Aussies apparently owe a 70 billion dollars in personal debt. Many are now using their credit cards to help survive as well. Not a good outlook for our nation.

My share dividends just keep going up and up. Great.

The deputy governor of the reserve bank of Australia has said that we need to create higher unemployment to get interest rates down. Create higher unemployment? This woman should be removed from her job for saying that. What sort of moron would advocate for higher unemployment? Is she saying people should leave their jobs just to lower interest rates? How do these fwits ever get these jobs? Idiots like her should have their IQ tested. They don't know how to help run an economy.Edited 22-Jun-23 02:03am

The Victorian government (Australia) have just provided themselves a huge pay rise yet they are telling all Victorians we are now going to need to tighten our belts and pay for the pandemic (which they enforced). Where is the fairness in that?

I'm not really a liberal supporter, but they are still much better than labour, as they are not like the labour that my parents used to vote for... when I was a kid. They have turned very left.

I work in retail i can only work 20 hours a week thats what i am contracted for and i have bad knees so can't work for long hours or even get a second job. I also have dyslexia so i really can't change jobs and i am not able to read or write good etc. Hubby works his main job 6am to 4pm 5 days a week then after work he tries to pick up shifts with delivery company's like uber eats, doordash,meunlog, and uber drive etc. On the weekends he delivers for amazon flex. Some days hes gone 14 to 15 hours and it makes me feel sick because it never use to be like this. Its horrible. But as a minimum wage person my wage use to cover our house loan with money left over each week for bills. Now my wage just covers the house loan by itself nothing left over its crazy.

Stop smell the roses it's free. Going out paying ex sorbant prices for meals that taste better cooked at home. Vote with your feet don't go out. People spending money they don't have oo haven't earned yet is what's causing the inflation. I'm one of those people that was paying interest of 4.5% in 2009 and child support not being able to do a shop, my statement stands .Edited 23-Jun-23 05:25am

We can change governments. Labor governments are known for over spending and under delivering. We can stop this ridiculous drive to renewable energy. Make cheap electricity through our vast nuclear and coal resources. We can stop buying foreign made products and make them here. We can lower government employee benefits especially the Labor leaders who are currently in office..... probably voted in by YOU!!! We can ask elon Musk to build cars in Australia. We can stop ploughing fruit and veg back into the ground when it's unaffordable for farmers to pick. We can do a lot of things. One thing we can't do is wait for someone to do something. We must act as one. When you build an economy on infrastructure projects and selling off assets to foreigners you are looking at the further erosion of living standards. All you're doing us kicking the can down the road. It doesn't solve sh.. Edited 20-Jun-23 06:12am

Very true Tavi, least make this government a one term government and vote them out in a few years time. Spread the message along to people you know. It was working fine under the liberals, but I think people blamed them for the covid virus and they got botted out. It won't be easy under lying albenese!

This is what you get with the Labor Party...since the election they have lied about the $275 energy reduction and now have exorbitant energy prices. Albanese also said that his government would lower the cost of living... What a joke...they are not be trusted!!!

Cut out the middle management wherever possible. They devour a lot of the company profits which could be used to pay hard working employees who are trying to bring home a humble paycheck at the end of the week. This will make the cost of the product more affordable and as a result keep inflation down.

Vote Labor for BOTH HOUSES OF PARLIAMENT for real social, fair changes

Where is the proof to defend either of these positions. As a lay person I would expect a raise for the minimum wage, which increases the employers cost which increases the prices of products, to impact the rate of inflation. How can it not? Rather than increase the minimum wage maybe the government needs to look at minimum income support. That is the government would give anyone, and everyone, an amount of money to get them above the level of poverty.

I'm do for a raise the in of this month!

I'm beginning to agree with John ... l think? !

The people who voted this useless labour government into power should be ashamed also. I read that it was mostly women and many were under 35 years. These idiots don't have a clue what constitutes a decent government. We were doing very well under the liberals and there was no reason to change government after just one term. I well remember how bad the last labour government was under Rudd/ Gilliard. They ran up debt and wasted so much money. They will do the same again no doubt.Edited 19-Jun-23 23:55pm

We are trapped in a system that slowly erodes. If the government and banks change anything they will just adopt one of the other systems that we have been taught to fear. The whole thing is a joke. We aren't free.

I get really angry when you see idiots like the reserve bank saying people should spend less and work more, from the people who held a $25,000 dinner at the taxpayers expense on the same day. also we have a man worth millions in Victoria refusing to pay his employees a decent wage, and then we read that 66 millionaires paid no tax last year, and what is the government and tax offfice doing - nothing. These people shoule be named and shamed.

It's a vicious circle. Wage rises go up so prices have to go up and then everybody needs another wage rise. What about the poor people on fixed incomes?

it seems wage growth is designed to be part of inflation. Overall it doesn't help those in need of more money on the long term. Every one gets in a worse position continually over time. And the way to change that may be to destroy the banks. watch something like this to get an idea https://www.youtube.com/watch?v=PHe0bXAIuk0

I wish I knew!

It is fine to increase the basic wage if you increase productivity at the same time because that offsets the increased pay, but if you only increase wages and not productivity prices have to be increased to make up for the loss. Australia's productivity is the lowest it has ever been but pay increases are the highest they have ever been and on top of that there is also an increase in the super contribution. So a business has to pay it's staff more, plus super then the cost of power has increased as well as the cost of fuel and there is now a tax on trucks, and everything comes by truck so what does the business do other than close it's doors? Increase prices of course and so the cycle begins again with your pay rise not helping at all, and you might even be worse off.

During inflationary situation, it is common that the prices to go up to catch up with the inflationary rates. However, it creates a volatility in the general markets because the wages cannot keep up with the inflationary rates. In this situation the best thing is, consumers are to Tighten their Belts and hold on, until Reserve Bank brings the inflation down. However, how much we try to analyse this inflationary factor, it's effects are mostly felt by the common people and sadly the government can't do anything except handing out monetary rewards to the so called low income earners. Some economists say this act of giving free money ultimately, further adding to the inflation. It's like a vicious circle.

My Dad reckoned that the cost of groceries and other things went up, he got a small pay rise and soon after prices went up again, supposedly to cover the cost of more wages being paid.

I don't know what the answer is, but we live on the superannuation, and once all the bills are paid which includes a $150,000 remedial rebuild loan payable over 10 years (we are just starting our 3rd year), we have $87 a month each to live on. How do you do that I hear you ask. We don't. Slowly our savings which aren't huge, are being eroded. We do everything we can to have what we need, at a cost that is real to us. We know others are worse off, but where will we all end up. I try to be positive and believe that it will all get better. Doing surveys which I enjoy, helps and I am glad to be able to do these, as I always get a Countdown voucher for our groceries.

Living alone on $735 a month Social Security isn't easy at times, but I have all I need, and want nothing more. I depend on the only one in the universe who loves me and takes care of me better than anyone else ever did, including myself. I rely on God, and the promises recorded in His Word, the Bible. As long as I follow His requirements, and remain separate from the World, all I have to do is stay calm and trust in Him. What can man do to me that Jehovah can't undo, even death? Nothing! ;-D

It’s a viscous circle, if they raise the minimum wage inflation follows and usually by more. Yes it is very difficult at the moment but we all need to live within our means.

Nothing really changes, 50 years ago I had a full time job and 2 part time jobs. I also had a wife who worked, 2 little children and a house to pay off. We needed the extra money to make ends meet.

Minimum wage is not enough it needs to go up

Inflation and minimum wage generally raise in unison, at the same rate.

Cheaper vegetables at the supermarket

Living within means .Shopping & cooking economically.No takeaways

Everyone should have access to housing, food, healthcare and education at minimum. Unfortunately there is no place for this under Capitalism. If you want changes people are going to have to vote differently. But we do need more parties that don't pander to the fat cats at the top.

Stop wanting and needing so much money to live on. Every one wants every thing now that is why the buy now and pay later companies are making a fortune. They are simply pricing them selves out of jobs because no one can afford them. Some thing has to give and when it does it is going to be huge and more than likely worldwide. I was brought up not to live on borrowed money as some day you have to pay it back and with all that interest. You have to ask was that coffee I had worth the $50 it is worth now because I put on my credit card and never paid it in full. To me it has never added up and we don't owe any bank any money any more and we will stay that way. Banks need to stop lending money out to people who can ill afford to pay the loan back. Just because some thing looks good on paper doesn't necessarily mean it is a good thing to have and I would be double checking before agreeing to it. So many people get them selves into such bad situations and it is rather scary.

The minimum wage is not the problem the pay rises for CEO's is the problem

It's all made up BS for whatever the hell the stock market is. We need to stop doing everything like power, food, housing etc "for profit".

Minimum wage has needed increase for yonks but it shouldn't push prices up n CEOs etc wages need a decrease

It seems strange that a small increase in the minimum wage is inflationary' but obscene increases for CEO's and senior management is not.

die

WE need to stop the Price Gouging, the Profiteering by all Commercial interests be they Banks, Fuel Companies, Supermarkets and any others you can think of. Banks have been raking in massive Windfall Profits for Decades but it is never enough. When the price of a barrel of Crude Oil was $US200 we were paying less for fuel than we are now when the price has dropped to around $US80 per barrel! As soon as Covid19 arrived and stupid people went on a Panic Buying Spree the Supermarketeers claimed their Warehouses and Distribution Centres were Full-to-Overflowing but due to so many people getting sick they were unable to get the stock into their stores. We accepted that. Then when things settled down a bit and that SAME Stock, which they had told us they had, started returning to the shops the Supermarketeers Raised Prices by a minimum average of 20%. Other Rteailers and Businesses followed suit. They had very excuse under the sun for doing so. Naturally Inflation started to rise. The root cause has been just one thing. GREED. Sheer, blatant GREED. Whilst Business Leaders have been claiming they cannot carry Increases in the Minimum Wage in line with the Inflation Rate they have been Increasing their own already very high Salaries by an Average of 15%! Work it out for yourselves. A 7% Pay Rise for those on around $25 per hour, thats around $52,000 per year and then look at a 15% Pay Rise for those already on Base Salaries of anything between $2 MILLION and $15 Million per year to which, of course, must be added their Multi-MIllion Dollar Bonuses, Bonuses for simply doing the job they are already being paid multi-millions to do! As a result of the increases in the Inflation Rate the Reserve bank of Australia and similar organisations around the World have all Increased the Cash Rate to the Commercial Banks who, despite making Windfall Profits when Interest rates to Borrowers were around 3 or 4 per cent, then passed those increases on to Borrowers IN FULL. BUT they Refuse to increase the Interest they Pay Depositors! Just wait until the Next Reporting Season and see how much bigger those Winfall Profits will be. Those massive new Profits will see the CEOs and Senior Management giving themselves even bigger Bonuses! GREED RULES. And just who are the people who suffer the most, whom those Bankers, on their multi million doall salaries, in such organisations as the Reserve Bank of Australia, The US Federal, the Bank of England and all the others, then Punish those on, relatively low salaries of under $300,000 per year!Edited 19-Jun-23 13:36pm

Nothing that comes to mind on this topic

No comment

Guaranteed annual income and 100% on CEO bonuses and any profit over 1 billion dollars a year profit.

I don't think that raising the minimum wage will have much of an impact on inflation. The wage just went up this month here by $1.10/hr. We'll see what effect that has on inflation in the coming months.

Need to lower fuel prices for a start and gas and electricity they all work hand in hand

Cut out the fat cats who are earning more than the pollies. Get rid of the states governors as already got 1 in Canberra who can do same job. Cut out the excessive pays to CEO’s.

Giving lower income earners, pensioners vouchers towards food might help those on lower incomes.

I don't know. I just frustrated working for a company where I pay union dues but get minimum wage and get no discount but students do. And prices keep going up.

Why can't lower earner receive vochers for food fuel will free up there money not enough employers give in centives for lower wage people

It was hard for my folks when I was a kid, interest rates were at 14-15% and they held two and three jobs each just to pay the bills. Really, I don't think anything can be done.

I'm a firm believer in Trickle Up Economics where the government takes all the money off the rich people who have billions and pay no tax at all and give it in 1 million dollar chunks to the poor who then go and spend it on what they need and stimulate the economy. Any other way just warps the economy and makes the rich richer and the poor less likely to be able to live.

Try making your coffee @ home & stop buying it when your out

I think to unemployment benefit is too high, which takes the incentive away to get employment. Why work when you get paid for not working and reap all the benefits too?

I noticed the other day the abc ran a story on how executives and ceo's of companies averaged a 15% pay increase over the last year while howling about the under the inflation rate given to workers was going to send inflation through the roof,the Australia institute said that 69% of these inflation rises are due to companies raising prices because they can,no reason behind it apart from greed,there isnt much you can do,about the only thing is stop buying,only the absolute things essentials,but this needs to be a population wide thing,not just a few people,the other thing is to just stop,stop paying bills,stop going to work,just stay home,again it needs to be a population wide thing,they are the only things that will really make a difference,anything else is pretty meaningless

Things do need to change for sure, but when who knows. It's getting very hard for a lot of people in these times.

Socialist government!

So many fell into the trap of buying houses on small deposits when interest rates had been continually lowered. There's an old saying"What goes up must come down. Getting the magic margin between these two is a lot harder than our economists thought.

I think nothing could be done about minimum wage and inflation that is going on right now.

Stricter taxation regulation and a UBI funded by these proceeds It will not happen though because the middle class still think they can join the top echelon through hard work and determination .Only those who control the means of production and are responsible for spreading this false gospel of just reward for effort will prosper. Sorry about that.

What can we keep the same is the question. Just raise minimum wage and keep everything else the same.

Lower min wage. When u hike employee wages, especially in the min wage service type jobs, like fast food, cashiers, retail, and hostesses like jobs, those businesses pass A LOT of the costs they now have to the consumer, causing inflation. If you want a higher paying job, don't pass a law for it, go to school, take trade and certificate programs that are shorter and great for older people wanting to be more valuable in the workplace so they can make a higher hourly wage that wasn't passed into law, but earned by working for it. Then businesses don't have to charge more because they are forced by law to PAY more.Edited 19-Jun-23 10:44am

Unless people make the Government accountable it will get worse, we have no say in what happens in our own Country while they forget that they are there to represent us not rule us.

I too am on a pension and once our idiot Prime Minister puts on the second carbon tax, I don't know how most middle and lower income families will get by. Someone should make him eat nothing but pork + beans and no name macaroni for 2 months and then see how he feels.

Its all out of control and I dont know what can be done to make things better I am on a pension and am only just getting by sometimes I have nothing left after paying all my bills

We need a guaranteed Livable income for all people

Hope that people can find a way to improve their finances without inflation getting higher but I do t really think it will ever get easier for those who start at minimum wage and can't really get ahead

Minimum wage is supposed to be the minimum amount a person can earn to be able to afford housing and food. That has not been the case for many years. The cost of housing and the cost of food and the cost of everything else needs to go down

Well moron, companies do make extra profits as well, so therefore pay rises are sometimes justified. Inflation is the reason why it's needed. If no one got pay rises then their money would shrink overtime. You don't even know how the economy works. But some dummies in NZ no doubt.

When super annuitants get an increase of 5 %, it may be enough to buy a friend lunch. When politicians get 5%, They could buy dinner for all of Parliament.

Employees are one of the most expensive costs in a company. If they can't get money out of thin air then if anyone gets a pay rise and people keep getting pay rises (like annual pay rises for example) then it's not sustainable and it's clear something's gotta give. Either shrinkflation or inflation is going to result otherwise people lose their jobs or shareholders are impacted. Also, even if one company decides not to increase prices, if everyone else increases their prices due to increased wages then that company's profits are going to dwindle because of cost of resources etc (supplied from other companies). No company wants to dwindle into non existence or even go bankrupt. So where does that leave us? Times are tough and could possibly get tougher so perhaps follow in the footsteps of people who survived the great depression.

If we learn to live within our means, not rely on putting everything on credit cards, that might be a good starting point?? I have never owned a credit card, if i couldn't afford an item, i would either put it on Lay-Buy at the store and pay it off (taking it home once it was fully paid for), or save up for it or hope it goes on sale in the future. I have never even had a loan for my vehicle purchases over the years, i simply saved up and bought something that i could afford. I do not know what it is like to have a lot of money, but i have never really gone without either. I have always had food to eat, clothes on my back, shoes on my feet and since having a licence, i have had a vehicle to drive. There are many people in my community who are complaining that it is so hard to live, yet they still go out to socialise, eat out whenever they want, have the latest technology, multiple devices, etc in the home rather than share, always have the air conditioning cooling or heating the house. As for what can we do? I'm not sure if raising the minimum wage will help everyone, but i think for those who use their money wisely, it will help those people. Others will see the extra money as a reason to spend more rather than pay off bills and debts. Maybe it should start with kids and school? If adults no longer know how to carefully use their money, maybe we need to teach our kids, tomorrow's workers how to be financially stable and responsible? Then maybe the kids can help to educate their parents?

Before and after wages go up they always put prices up on food, bills and etc. So is it's real wage up or just make us think that will help us?. But end up as before. By the way take out year tax as no one win in this.Edited 19-Jun-23 09:26am

just raise the minimum wage salary

Maybe a change in tax brackets would help. Mostly when minimum wage goes up it puts them up in tax bracket hence pointless other than adding to costs for all.

Not enough wages increase but inflation is going too fast

It is Rubbish to claim a rise to minimum wage will increase inflation. Minimum wage has barely had any rises in over a decade and when it last did (12 months ago) it was barely over the current rate of inflation and it has not gone up since but inflation has increased yet again. CEO and executive wages have increased in the last decade AND most companies have recently given these overpaid gluttons a 12-15% payrise to counter for inflation which is a big joke since they, historically have always had their salaries rise and it is also sick since these companies have cried foul at increasing the wage of ordinary workers as unfair and unaffordable and many companies tried to not give them a rise at all or have it at well below inflation rates. How can these companies cry poor for their ordinary workers yet they roll out the pork barrel for their executives? This has a bigger impact on inflation than any poor underpaid minimum wage worker.Edited 19-Jun-23 09:03am

Ensure an increase in productivity.

Support financially when required following guidelines.

Chicken Little might have been on to something...

thank god for food banks & churches apparently religion is making a come back socialism? But not communism

Now is the time, BEFORE prices for goods and services, food especially, becomes increasingly costly, to stock up every inch of your home with supplies! I would STRONGLY advise that people begin putting aside preps including "beans, bullets and bandaids"! If you're NOT in the US and don't have access to a gun then you can skip the "bullets" part and stock up more on the other 2 items. The world is going to begin spiralling out of control with another pandemic in the pipeline, a full on World War, economic crashes throughout the globe and ALL of these planned and intended. It won't be simply the question of "will increasing the minimum wage lead to further increases in inflation" but more seriously "how am I going to afford to have a roof over my head, feed myself and my kids if I have any and how will I afford energy" to the extent that its available, as all these basic necessities of life WILL continue to rise in price because that's the way it's SUPPOSED to go. I know that I am the voice of doom and gloom but ONLY if you don't do something to try and shore yourself up BEFORE things get worse. The coming digital currency not only in the US but globally will impact EVERYONE'S ability to purchase what they want or need by setting limits on how much carbon you've used over the preceding period and what you bought. So for example you purchased meat and tobacco, both no-no's from the point of view of the climate tzars who have decided that these things are poisoning the planet by using too much nitrogen, methane and carbon, and put contaminants into the air as far as tobacco is concerned. Your social credit score will go down and this also reduces whether you can travel within your 15 minute city or whether you get home detention until you have made restitution in some way for your "bad actions". People in China, so around 1 in 8 humans on the planet, already live in a technocratic state where they are surveilled constantly and all consumer actions are monitored and, unfortunately for us those running the countries in the West think that China's model is how they wish that THEIR countries are run and EVERYONE should be terrified at that prospect. Use cash while you can to buy whatever you can now while you can still shop anonymously and put aside whatever is important for you and your family. A UBI or "Universal Basic Income" will be the end result of an intentional global economic crash that will make the Great Depression look like a Sunday School picnic so get your supplies while they are available! Thanks for reading.

Do it All Here in NZ as we once did- INNOVATION on power. STOP IMPORTING PLASTIC CRAP AND exporting WASTE

Labour all the way🥰

Vote for a change in November!

we changed the way we live, and we are gradually, slowly moving to self-sufficiency, our veggie garden is getting bigger, and we share our excess with our neighbors, they, in turn, share their excesses with us and others we do a lot of up cycling for gifts and recycle toys where possible the kids get a buzz out of fixing toys as well as earning a little bitta cash to buy stuff at op shops, we have lessened the impact that's for sure, we save all our coins and it's amazing how much you can save in a short time the fire pit has replaced movie night, we are lucky with wood there is always wood on the streets around here,all I gotta figure out is how to brew bourbon

What can we do? Get a good education = then get a good job. Live a minimalist existence. Educate yourself on finances and investing - Invest your excess dollars - USE THE SYSTEM!! - the system is there, it consistently works - everybody knows it - few are willing to use it. Don't placate your ego with trips to Bali and HD TV screens - until your investments can pay for them. I know people who have consistently done this and live very well. I know people who haven't consistently done this, and they complain about wages and inflation.... go figure...

Dear Shelley, if all the economists in the world were laid end to end they would not reach a conclusion. Their profession is as fraught as weather forecasting. Believe what works for you.

I’ve read all of your opinions, and have to say everyone has a legitimate opinion, however from a personal point of view, there is very little we can do about how bank’s and governance is playing out, except take care of yourself, your family and community the best you can, ie put needs before want’s, be frugal, car pool or use public transport, only eat out on special occasions, grow vegetables, etc etc we’ve all experienced time’s like these in the past, and we will experience them again! Above all else always be grateful for what you do have!

Put the people of Australia first before emptying the coffers, filled with our hard money collected via taxes and levies, to foreign bottomless pit war mongering, which only prolongs the suffering of innocent people while the so called "patted on the backs" of their leaders squander and line their pockets from our hard earned money ... our leaders should fix up the poverty and needs of the people which is overflowing in this so called "Lucky Country".

Pray for the Wizards to see the real truth and light

Needs to break the cycle. All states to release land to start building. Friends with China to ensure supply keep floating in the country where we don’t manufacture here.

In NZ remove GST on all basic food items, would be a start.

Hard work, in order to achieve what we want - doesn't kill anyone, as most of us over 70's have all experienced....

The Reserve Bank of Australia wants people to spend LESS money to bring inflation under control by forcing everyone to GIVE more of thier money to the 4 big banks and other lenders to increase THIER profit above the 10 to 12 billion $ per year they already make .When taking spending into consideration the RBA also considers the price of rents as well as the price of goods and servicesThe monthly increases in interest rates increase the rents on homes and business properties as landlords have to pass on thier costs. These higher rents for businesses naturally mean higher prices for goods and services. Add to that the higher costs of electricity and gas which forces manufacturers and retailers to also increase prices to cover those increasing costs,These things are causing everyone to continue spending more and more on rent, goods, and services plus mortgages if you own the home you live in.This, therefore, leads the RBA to continue increasing interest rates every month BECAUSE they are NOT taking these factors into account.In order to get inflation under control and lower prices for goods and services is for the RBA to STOP increasing interest rates and start rapidly lowering interest rates.These monthly increases by the RBA are very quickly taking us toward a very long-lasting recession while making the Big 4 banks and other lenders MUCH richerIt comes down to the old way of life .. The rich get richer and the poor get poorer ,,,, The rich get richer off the sheer suffering of everyone else

Start electing different people who actually care about someoen other than their political party and making money for themselves

It only gets worse, if you get injured, disability is half of whet you earned when you worked, very hard to make things work. Social security is the same. They want us yo work until we drop so they don’t have to pay. The politicians have raided the social security fund for years. It would be nice to have honest politicians in office.I took political science when i first got out of the Marines but quickly realized I didn’t want to be around those kind of people all day.

In America the unemployment is rising. Biden is out next year, wether the democrats get back in or not, that old man has memory problems. He's helping to sink the American economy.

I AGREE WITH HELEN, GET RID OF THE RADICALLY LEFT POLITICIANS,ETC, ALL THEY ARE DOING IS LINING THEIR POCKETS . AT THE EXPENSE OF PEOPLE

Get rid of these corrupt politicians and economists, especially that guy who keeps raising the mortgage rates.

I worked two jobs for six years and three jobs for two years in the early 80s then two jobs for five years in the late 80s. Interest rates were around the 18% mark. Like then as I am now, I am happy to live in a country that allows me to work hard. The 90s onwards I have invariably worked two jobs or more. Retirement came two years ago and you know what happened then.