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Probably a combination of: 1) Timing - we're in sub trend growth period, with rising unemployment and fiscal consolidation. Non interest rate sensitive sectors are likely to be feeling the pinch. 2) Behavioural elements.

Bayview, i'm pretty sure that most folk wont ever claim that life has gotten easier. There are behavioural elements at play. For example, the public screaming murder at some very basic and legitimate 2014 budget changes is an example of the behavioural mindset. The FACTS are, we have grown...

"In the medium to long run, the growth of real income depends largely on productivity growth." This. Most of the other variables that come into income growth equation are quite static or cyclical (if they increase, will come back down at some point). Cheers, Redom

Hmm i tend to agree with your expectations Deltaberry...i dont think this will be nearly as bleak as it sounds for some (the people with money/assets). It probably does affect the lower income earners more so than others. Their ability to negotaite wage increases is lower, etc.

Real wages have definitely increased. The component breakdown in Martins speech is there over the last 4 odd decades. The mining boom helped boost real wage growth in noughties. Now the different componenets that make up real wage growth are now working against us (labour utilisation, terms...

Playing this all back to the housing market, i think the key risk is that Australians (and Governments) do not adjust their expectations for income growth over the next decade. If we know that the key long run drivers of growth are working against us - then we need to lower our expectation of...

Hmm, 'Costello taking advantage of the good times' is a great myth. It was easy to pay down the debt and that should never have been the benchmark given the environment he was playing in. I'm not sure why people assume government = economy. This is about the economic drivers at play in...

Todays news is reporting that living standards are set to fall over the medium run without significant productivity improvements, with some high profile economists/ex political leaders talking at some forum. Pretty consistent message coming out of Canberra over the last 12 months trying to...