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people dont want shiney imports
people want value for money
australian industry doesnt offer that.
shiny imports offer better value for money than anything made in australia.
protectionism just leads to deadweight loss. no competition, no incentive to innovate.
quote If the protectionist route is followed, newer, more efficient industries will have less scope to expand, and overall output and economic welfare will suffer. end-quote.
Quote:
Originally Posted by Pickles2
What line of work are you in? or did before retirenment?
that routes working really well at the moment, whats it take for the penny to drop?Quote:
Originally Posted by Eevo
Hello sparksdisco.
I worked in a Bank for 39 years before I retired. Nothing special, just middle management....no big income or anything like that...just a worker, and I was a Union Member for the whole time.
Talking about wages/costs etc, being an ex-Banker, I'm used to people having a go at me about "Huge Bank Profits"etc etc......but they're not "Huge" really...it's just that the banks are very large organizations, so their "Profit" is, in number/dollar terms, are also large, but their return on equity is the same as any other successful business.
However, one aspect of Banks that I do find obscene, is the "Salary" of the C.E.O's...NO-ONE is worth $15M P/A.
Cheers, Pickles.
The trouble with this thread is that everyone is correct in what they are saying. Costs ARE too high, protectionism can lead to problems, losing manufacturing capability could lead to disaster. I can't see an easy solution to a very complex problem. Take away workers rights and benefits? Not likely, but it's happening by proxy anyway. We are using worker ants in places like China to replace our own workers who cost too much. A mate is getting a computer programming job done for his business. It's 28 days work full on and will cost him $800 all up in China. It would nearly cost him $800 a day here. Nothing will stabilise until we are all earning comparable wages and benefits. Another thing, this super for retirement thing doesn't seem logical. We can't have a very significant portion of the population sitting on a beach earning investment income. Someone has to be doing the work. Investment income is an illusion if there aren't a heap of worker ants slaving away to support it.
Well i think im a good judge with first hand experience on the matter after being made redundant (voluntary)by one of these American owned companys after 19 years service .Quote:
Originally Posted by Pickles2
The writing is on the wall The yanks dont like our ability to design engineer and manufacture :mad:
That is NOT good mate, & I am sorry to hear it. The same sort of thing happened whilst I was in the Bank to some of my long standing friends & Co-Workers...luckily, I "survived".Quote:
Originally Posted by rangieman
But really, I reckon, if you look at what's happening in Aus, I don't think it's the Yanks who are the problem.....all of our "industry" has gone to the likes of China, South Korea, Taiwan, & now Thailand & India are entering the picture. It's not good at all, and I do not have the answers, but Mikehzz makes some very good points
Cheers, Pickles.
and that is only the start of it.Quote:
Originally Posted by Pickles2
the proportion of profits going to middle and upper management has grown unchecked and out of all proportion to the rest to the point that it makes it nonviable to keep manufacturing here.
shareholders only seem to be waking up to it now
it isnt just the unions that have been greedy.
I would have to disagree with that.....having worked in a bank, for so long, I started in 1961, I know a fair bit (a bit more than I know about Landrovers!) about Bank "salaries' & the like. Salaries of "rank & file" are similar to what is available in other areas of the finance sector, manufacturing companies etc, and it is not the salaries of the higher ranked (CEO, Senior Managers etc) that comprise most of the wages cost....it is the tens of thousands of "ordinary workers", like I was.Quote:
Originally Posted by incisor
Shareholders?....Not too many of them would be unhappy....the Dividend yield of Bank Shares are amongst the best!
Cheers, Pickles.
how did i know that was coming :DQuote:
Originally Posted by Pickles2
the figures are out there for all to see, if i had time i would point you to them but alas today it aint going to happen. maybe tomorrow...
shocked me when i read it i have to say as i didnt realise just how much the % had increased.