I will Accept Lower Wages If....
The Cost of living in Australia falls.
The problem is Australians live in a Country bigger than mainland USA but with a population smaller than California.Oz may have a pop of 22million people but it only has 9 million people in the workforce.The tax regime is accordingly punative.The black market in Australia thrive because of this.The internet has been an absolute boon.For far too long Australians have been overcharged for white goods,clothing.technology,shoes and food.The Scottish CEO of Coles could not believe the margins grocery chains were achieving.
World retailers for example have discovered Australia as their traditional home markets have shrunk.
Deflation will bring lower wages.If it costs less to live you need less income to live.DXB and SIN are perfect examples of countries where population compared to total land area equals a lower cost of infrastructure,lower tranport costs,lower food costs and an oustanding public transport network which means less cars and less money spent on fuel.
Australia suffers from the tyranny of distance,large landmass and small population .
Idiot governments haven't helped the circumstances