The golden kool aid doesn't get me drunk. I have a high tolerance after all these years hehe.
Cash is still king.
- Thread starter heartastack
- Start date
Where's your data that proves there is no real wage growth or any of your other claims?
And it would be courteous of you to answer my question as to why the level of debt is unsustainable.
florincollector54
Well-Known Member
Surprised at the lack of awareness around the economic challenges facing an ever growing group of australians, particularly those under 35.
The two figures i have shared showcase this reality pretty clearly. The first showcases the massive increase in asking rents, which after remaining fairly stable for a decade sky-rocketed over the past two years. Whilst those who own their own home are not affected by this, or even benefit, those that don't are not in a good way.
Further to this, over the last year, the savings and disposable spending of those under 35 has been mashed as per the second figure.
Very few people in this age group are doing well in the current economy and have been priced out of houses their parents purchased easily on a single income. In fact, the income needed to even purchase the average house in an Australian city was well above the top 15% in almost every case.
The two figures i have shared showcase this reality pretty clearly. The first showcases the massive increase in asking rents, which after remaining fairly stable for a decade sky-rocketed over the past two years. Whilst those who own their own home are not affected by this, or even benefit, those that don't are not in a good way.
Further to this, over the last year, the savings and disposable spending of those under 35 has been mashed as per the second figure.
Very few people in this age group are doing well in the current economy and have been priced out of houses their parents purchased easily on a single income. In fact, the income needed to even purchase the average house in an Australian city was well above the top 15% in almost every case.
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Yeah it's like talking to one of my relatives about money haha. Not a clue!
My mom was telling me how great things are as we drove through the tent cities.
My mom was telling me how great things are as we drove through the tent cities.
florincollector54
Well-Known Member
The soviet level propaganda that the current government is running with that says things are going along nicely is believed by no one I know in my age bracket.
People know they have been screwed when they are priced out of buying the most basic homes on the outskirts of their city.
People know they have been screwed when they are priced out of buying the most basic homes on the outskirts of their city.
florincollector54
Well-Known Member
The household saving and spending chart might explain why this is. Some people are oblivious to the predicament facing others and just can't concieve of such a different situation to what they faced.
And if your kid wants to be a teacher, support him in his choice. Decent pay, great holidays, good superannuation scheme, job for life. That's advice from someone who regrets pushing his kid into a career he never really wanted to be in. Take it or leave it.
I have alot of teachers in my family and it isn't what it used to be.
Now they need multiple jobs and two incomes if they have kids.
Colorado is having big problems because wages don't pay for housing, much less anything else.
I think the fallacy in both arguments is that the generalisation that one size fits all.
“The people with their hands out rarely wear work boots!”
I, along with most stackers I know personally are doing okay. There is a percentage of the population that may be doing it tough, so be it. I would not choose to be them, so I endeavour not to be them.
Which side of the bell curve do you want reside on?
There are hundreds of anecdotes that prove either argument, the graphs smooth the situation out but in essence, you stand alone!
“The people with their hands out rarely wear work boots!”
I, along with most stackers I know personally are doing okay. There is a percentage of the population that may be doing it tough, so be it. I would not choose to be them, so I endeavour not to be them.
Which side of the bell curve do you want reside on?
There are hundreds of anecdotes that prove either argument, the graphs smooth the situation out but in essence, you stand alone!
It's too bad we can't watch the decline with enjoyment without so many suffering.
It's an epic time to be alive in this backwards clown world haha. I'm loving all the chaos going on here in the US but I don't like seeing people walking down the road with everything they own on their backs.
I guess they go hand in hand but I wouldn't wish that on anyone.
It's an epic time to be alive in this backwards clown world haha. I'm loving all the chaos going on here in the US but I don't like seeing people walking down the road with everything they own on their backs.
I guess they go hand in hand but I wouldn't wish that on anyone.
pmbug
Well-Known Member
What post are you referring to here?
pmbug
Well-Known Member
I referenced the thread because I asked about the previous discussion re:chartalism and you said that you deleted it.
I don't know about the newest crisis but I do know this Traxxas E Revo car is fun as hell.
My son got an rc car in an ebay buy so we played with it and I wondered why I didn't have one.
Now I can switch out batteries every so often and check on any new collapses!
I love toys!
They claim it can do 50 mph but I can barely control it in the 20s.
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No one who has posted here is unaware of those challenges as far as I can tell.
Brandolini's Law.
Apologies, there were a lot of of posts to respond to.
The post I was referring to was https://www.silverstackers.com/foru...cash-is-still-king.102191/page-4#post-1280046 but it wasn't you claiming that real wage growth had not occurred but another member. The point I was trying to make, which was in part misdirected at just one of your posts, was that by raising the concept of real wages in the debate you have effectively shut down those who argue that inflation has eaten all wage growth over the past few decades, this supports my argument.
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Agree, most people I know are doing well.
But I don't want to fall into the trap of letting my bias cloud my perspective because I live in a part of the world that while not entirely immune to the economic weight pressing down on most of us is largely vibrant and moving on with life in pretty much the same way as any other time. So I try to go through a verification process. What I do is observe, make judgments and then seek the justified opinions of respected experts together with data collected by others who have ventured more widely into society and history than I in order to confirm or refute my judgments. I'm afforded the luxury of time mind you to do this, something others may not be fortunate to have.
Dismissing data as just theory or as an example of government propaganda jeopardises that verification process and would leave me vulnerable to fallacious reasoning.
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pmbug
Well-Known Member
Per the linked article, in 2022 in Australia:
nominal wages grew by 3.3 %
inflation grew by 7.8 %
real wage "growth" was -4.5 % (that's negative)
My point was that nominal wage growth (not accounting for inflation) is not informative. Real wage growth (accounting for inflation) shows the violence inherent in the system.
It's always been shit pay in the US.
Remuneration is not as serious a problem in my state (but don't ask a teacher
), a beginning teacher will start on about $82000/year after 4 years of training. The average classroom teacher with experience after 7-10 years or so will be earning somewhere around $110 000 - $140 000/year, and then there are the Admin jobs such as HODS and Principals that pay much higher.
And your point backs my argument.
Michael Kay
Well-Known Member
Is this right? 140k? It makes my number of 100k sound incorrect, LoL. But as per articles I have read, it is true that 50% are thinking of leaving. As far as schoolteachers go, I only know ex-ones, and i used Seek for income stats https://www.seek.com.au/career-advice/role/teacher/salaryIt's always been shit pay in the US.
Remuneration is not as serious a problem in my state (but don't ask a teacher