http://www.smh.com.au/politics/federal/a-recession-may-be-inevitable-even-desirable-20190605-p51urg.html
I think the author of this was one of those who would have become PM if he did not try to do what John Howard later did
Introduce the GST, Labor first mentioned doing it but fought it?
As for recession we need to have?
Great deal of harm and pain in that,but if it leads to improvements who can say

reward effort, for that reason socialism is a non starter
Belly,
True, that's Putin's success for pulling the USSR out of the bad old days & making it the success story it is now ! The way they're going they'll soon be THE success Nation of the world.

It indy would then be a nation built on crime Putin is no demi God he is a criminal at the head of a nation of criminals
China, Indea, and maybe other Asian countries will be the ones that over take America

Hi Individual,

I agree with Belly on Putin - Russia's image is huge and scary, but its economy is no bigger than ours or Italy's, hardly world powers. It's hemmed in by too many other powers, which contend for its heartland of Central Asia. Yes, I think that China will curry favour with the EU, India, etc., and build up its economic and political links vis-a-vis the US in the next decade or so. It has limited time before its population starts to level off around 2050, and then decline sharply.

Joe

IF pundits views are right, if we are headed for a GFC China,while wounded by it, may emerge better after it
Right now America is playing to Trump's tune, dangerous at best
At some future time Trumps victims may get the upper hand, a very real loss for that country

Another reason I call Aussies morons, is this.
With all the doom and gloom befalling us day by day, I still hear the cries of wage increases.
Now I have admitted repeatedly that I am no economist, but it seems neither is anyone else, including those who profess to be economists.
I have watched for decades while the unions have blackmailed and threatened their way across the industrial and workplace landscape to force industries and govts to increase wages.
This has proven again and again to be the worst decision of all.
WHY?
Because increasing wages only increases the cost of living and the cost of exports.
Ever wonder why items seem more expensive or just harder to buy as the years went on, even though you are (seemingly) getting more income?
Well, every time your wages go up, so does the goods or services you are involved in.
The company just doesn't increase the price of the product or service at the extra amount they have to pay out each week.
No, they add an amount to help their internal bottom line, so they up the ante' just that little bit more.
So it goes that the only good, (if that's what it is) that comes of it is that imports become more affordable, and there-in lies the final nail in our economic coffin.
We buy more imported foreign goods, thereby depleting our economy and help to bolster other countries and their economy.
Another real winner is the fact that no-one, (except me) challenges Local, State or Federal govt charges.
Whilst our incomes and the economy are either stagnant or receding, why are these mongrel govt departments still increasing fees and charges?
Their reasoning is unjustified and I say let's attack these issues before we are distracted by the bigger ones, which we will find almost impossible to affect any real change without the co-operation of those within the various levels of govt.