In my scenario, I expect a 'Germany 1923' to unfold, for much the same reasons. Australia will pass rapidly through the 102% range and head north into the many 100s and then 1000s of %. Much like Venezuela today. The government will announce the inflation rate is about half of the REAL rate, and announce to workers and pensioners that the COL adjustment will be paid from next week. That will reverse all the Social Security budget problems, and wipe out the national Debt. Pensioners etc will be eating dog food and porridge. JMO OC
'Old Codger' is definitely right about government inflation measurement. They've been underreporting for years, re: Australian Bureau of Statistics 'adjustment' methods. Not only can they underpay on COL adjustment, they can kick the can on funding costs by lowering the inflation outlook to improve government bond prices.
The govt is about ensuring dependency and control through do this or we cut you off, ie family tax benefit & vaccinations. It will not be wholly done like as you say 1973 govt proclamation style lifting wages, though independent businesses may do some catch up on wages independent of govt, and there may be adjustments to awards. Rather It would more likely be done with a 'safety net' universal income welfare payment. Same effect, but with massive control over the masses for future compliance.
Leaving aside the massive boost to counter deflation, that goes far beyond their intention of course.
Why? There are plenty of jobs out there where travel is an integral or common part of it. Great for a young person without ties who wants to see the world on someone else's dime.
Army has a veto over destinations and so on. They can and have zapped a proposed trip for grandson. OC
so give us some examples of jobs that pay a "dime" . "someone else's dime" your such a waster, stop the wanking mate, no no keep up the wanking you have given me a good laugh, I'm just surprised you didn't use the other beauty "I'm taking a gap year".
What are these services we are going to provide the rest of the world In a multicultural country you can appreciate all the foreign culture you like, except maybe Australian but that will not bother you and your kind who seem hate the Aussie way of life
The interest rates in the 80s made it a bit harder for some, many people lost houses, and a lot of businesses went broke
An old anecdote from Germany 1923. A rich couple financed a family friend into a nice new home shortly before the disaster. Knocked on their door one day with a few notes with LOTS of zeros, and paid off the loan. Moral, buy a HUGE mansion just as the hyperinflation hits. OC
As I understand it the banks rescheduled the loans from pre-hyperinflation value to rentenmark. Jim Sinclair explained this mechanism a while back but I can't find the link - it's out there somewhere if you're inclined to consider options the banks have with their loan books. correction: Here's what he said (GOTS - Get Out of The System Aha - a work in progress:
WTF? Surely you know what I mean. There are many jobs that involve travel, and that travel is paid for by the company. So if you enjoy travel it might be worthwhile looking for a job that involves some travel. "on someone else's dime" is a common expression that means someone else pays for it.
