When the big Goaf outlawed common sense the quality of manufacturing went with it.
I work with 40 year olds who have no idea how to hold a saw or drill a hole or hammer in a nail, work about 3 hrs/day & get paid a full fortnight.

Indy..when the system makes money out of children....what have we got?

Planet3

My last post....its your planet.....don't waste your time on me..

Hello
A country with all resources is not able to manufacture goods for the export and own demand?
How can Europe achieve that.Not many resources over there!
Changes should happen here 25 years ago,may we would be alright by now.
Are we the clever country?
It looks to me that the politician than and today did not have the brain to make the right decision .
Yes,they have sorry . Pay rise to be the best paid in the world.
What's left from this great country , where you have to struggle to make a living.
Very sad!

Kibo,
As I have stated so many times here, it's a matter of mentality.

Planet3, talking dollars, cents and currency can get confusing for some, so a simple excercise is to convert dollars and cents into apples.

Now let's say you earn 1000 apples each week and it costs you 250 apples per week to buy your new car. That's 25% of your apples.

So, if you reduce everyone's pay by half to 500 apples and, you reduce the price of the car which now means yo pay 125 apples per week for your car, it's still 25% of your income, so you're no better off.

Of cause the investor from a different, higher, currency can get doublenthe value of their money BUT, to do this we must find a way to tax them, and a true transaction tax would do just that, as it would tax their money as it enters their onshore accounts (working account) and, it would also tax their money as they transferred it off shore.

So in principle it would work, but not under our current tax system.