Torres,
Whilst some erroneously blame government for recent interest rate increases, the reason is inflation, fueled in part by significant increases
Must disagree with your statement here. In economics, inflation refers to an expansion of the money supply, more dollars chasing the same number of goods, which will then lead to price and wage inflation. So whilst you're correct in saying that the government did not raise interest rates, it's the government's policies of printing more money which leads to reason for rates being raised, as it's effectively the only tool it has available to fight inflation (referring here to price and wage inflation).
When I left Oz in '90, the apartment I sold then is worth about 3 times that now. My salary at the time in Airlines was about 2/3 about what it is now, that is to say, pilots these days are earning about 50% more for the same job. Other price increases in Oz reflect the increase in the property I mentioned.
So if you do the math, a pilot today is only earning about 50% what he was back in 1990, and even worse after tax. So, to say that inflation is caused by wage demands is misleading and disingenuous. The wage demands are coming about because of the reduced spending of fewer dollars earned by employees. Airlines are getting pilots much cheaper than previously and yet still claim they can't manage.
When are pilots and employees in general going to stop putting up with rubbish?