PAF
'Whilst people are willing to work as an airline F/O for 70K, 50K, 30K etc they will go down. It's not the airlines fault'.
I think you have hit the nail on the head. Until you have people willing to believe they are worth more than the pittance that the companies want to pay ,you will always be on a downward pay spiral.
People always believe that once they get into a job, the management will do the right thing and T & C's will improve over time. Unfortunately thats not going to happen in todays industrial climate.