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Whats The Current National Minimum Wage? (Read 1507 times)
aquascoot
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Re: Whats The Current National Minimum Wage?
Reply #30 - Nov 8th, 2019 at 1:40pm
 
Croc I thought you were smarter than that.

You should brush up on " one belt one road "

China is building 3 super fast rail networks to Northern Europe.
Central Europe thru turkey and thru Pakistan to the sea.

They are the biggest infrastructure players in Ethiopia, Kenya and Nigeria. The Sudan and Pakistan.
They recently opened 52 factories in Kenya.
They just completed their 10,000 rail trip to London.

Though of a similar population to India, they are building infrastructure at 12x the rate.

They are constructing a city the size of Perth every fortnight as they urbanise.
They are building a super grid to power all if Asia and Africa.

It would appear the USA is in deep trouble.
It's school system is falling apart.

China has more engineers at university then the USA had engineers.

It connects 50000 people to the power grid every day.
It connects 50000 people to running water every day.

With the use of CRISPA gene splicing, it will soon be able to produce enhanced humans with higher IQ and other skills.


There is NO REASON whatsoever for Aussie workers to tell themselves a BS story that their labour is worth 5 x that of a Chinese worker.

If Aussies want iPhones made in china, then we accept global markets and we MUST accept global benchmarking for wages.

Accept it or it will be enforced upon you eventually.

The current crop of entitled fools like gweg and knight think they can live 5x above their value because, because,..... Well just because.

Guess what, that is a game that is coming to an end very soon my friend.
And you as an economist need to recognise that and the population needs to prepare.
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juliar
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Re: Whats The Current National Minimum Wage?
Reply #31 - Nov 8th, 2019 at 2:06pm
 
What a trashy thread about nothing - but then that is the crotchety old BlackDay to a tee - much ado about nothing.

Wonder when the silly old coot will start raving about Penalty Rates again ? He used to be obsessed with them.

Probably waiting for the unions or GetUp! to provide a prepared thingo for him to parrot as another waste of space.
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aquascoot
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Re: Whats The Current National Minimum Wage?
Reply #32 - Nov 8th, 2019 at 2:29pm
 
they need to go read my china thread and stop pretending they can live beyond their means
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juliar
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Re: Whats The Current National Minimum Wage?
Reply #33 - Nov 8th, 2019 at 2:44pm
 
About crockery is it ?
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aquascoot
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Re: Whats The Current National Minimum Wage?
Reply #34 - Nov 8th, 2019 at 3:02pm
 
juliar wrote on Nov 8th, 2019 at 2:44pm:
About crockery is it ?



ah juliar,  maintaining a sense of humour.
the noble rightard can always have a joke whilst the PC leftie is stifled and frustrated

kudos
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Valkie
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Re: Whats The Current National Minimum Wage?
Reply #35 - Nov 9th, 2019 at 6:10am
 
aquascoot wrote on Nov 8th, 2019 at 6:22am:
Highest national minimum wage in the world

Businesses have a duty to their shareholders to maximize profits
This is a legal duty
Why cannot have businesses breaking the law by employing overpaid workers in Australia

It is a moral and indeed legal obligation of businesses to shift as much work as possible too grateful efficient and more economic foreign workers
It is also a moral obligation of business leaders to push for as many 457 visa holders can be given work

As Greg constantly points out we must not break the law


Perhaps.

But we pay more than twice as much for everything we buy.
So when that little gem is factored in, it's not all tgat great is it ?
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aquascoot
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Re: Whats The Current National Minimum Wage?
Reply #36 - Nov 9th, 2019 at 6:37am
 
Valkie wrote on Nov 9th, 2019 at 6:10am:
aquascoot wrote on Nov 8th, 2019 at 6:22am:
Highest national minimum wage in the world

Businesses have a duty to their shareholders to maximize profits
This is a legal duty
Why cannot have businesses breaking the law by employing overpaid workers in Australia

It is a moral and indeed legal obligation of businesses to shift as much work as possible too grateful efficient and more economic foreign workers
It is also a moral obligation of business leaders to push for as many 457 visa holders can be given work

As Greg constantly points out we must not break the law


Perhaps.

But we pay more than twice as much for everything we buy.
So when that little gem is factored in, it's not all tgat great is it ?



but white knight and greg dont seem to realise that if you keep raising wages, you are just going to keep raising costs.

if you give that barrista 50 an hr on sunday , a coffee might be 7 bucks.
pay him 15 an hr and it might be  2.

then more tourists come.


then you can fleece those chinese tourists of their cash rather then have them say "nope, we'll save our cash up and buy all your farms"
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whiteknight
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Re: Whats The Current National Minimum Wage?
Reply #37 - Nov 9th, 2019 at 6:44am
 
Stop trying to cut low income workers wages.  Also restore the penalty rates, back to what they were.   Sad   
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Sir Spot of Borg
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Re: Whats The Current National Minimum Wage?
Reply #38 - Nov 9th, 2019 at 7:53am
 
aquascoot wrote on Nov 9th, 2019 at 6:37am:
Valkie wrote on Nov 9th, 2019 at 6:10am:
aquascoot wrote on Nov 8th, 2019 at 6:22am:
Highest national minimum wage in the world

Businesses have a duty to their shareholders to maximize profits
This is a legal duty
Why cannot have businesses breaking the law by employing overpaid workers in Australia

It is a moral and indeed legal obligation of businesses to shift as much work as possible too grateful efficient and more economic foreign workers
It is also a moral obligation of business leaders to push for as many 457 visa holders can be given work

As Greg constantly points out we must not break the law


Perhaps.

But we pay more than twice as much for everything we buy.
So when that little gem is factored in, it's not all tgat great is it ?



but white knight and greg dont seem to realise that if you keep raising wages, you are just going to keep raising costs.

if you give that barrista 50 an hr on sunday , a coffee might be 7 bucks.
pay him 15 an hr and it might be  2.

then more tourists come.


then you can fleece those chinese tourists of their cash rather then have them say "nope, we'll save our cash up and buy all your farms"


Prices never go down. The bosses would just pocket the savings

Spot
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Dnarever
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Re: Whats The Current National Minimum Wage?
Reply #39 - Nov 9th, 2019 at 12:56pm
 
whiteknight wrote on Nov 8th, 2019 at 6:00am:
$19.49 per hour   Huh
What is the current national minimum wage? The national minimum wage is currently $19.49 per hour or $740.80 per 38 hour week (before tax). Casual employees covered by the national minimum wage also get at least a 25% casual loading.



Min wage is $8.95

How can $19 be the minimum when it is legal to pay much less ?

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juliar
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Re: Whats The Current National Minimum Wage?
Reply #40 - Nov 10th, 2019 at 1:56pm
 
Not enough??  Too much???   Depends on which side you are on and if you have ASIAN companies breathing down your neck.

But if you are on Newstart then who cares ?
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Dnarever
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Re: Whats The Current National Minimum Wage?
Reply #41 - Nov 10th, 2019 at 5:19pm
 
The argument that we need to compete with third world pay rates holds no water.

I do not see these companies that compete with the third world mirroring third world management wages ?
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Dnarever
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Re: Whats The Current National Minimum Wage?
Reply #42 - Nov 10th, 2019 at 5:21pm
 
juliar wrote on Nov 10th, 2019 at 1:56pm:
Not enough??  Too much???   Depends on which side you are on and if you have ASIAN companies breathing down your neck.

But if you are on Newstart then who cares ?


Newstart about $5 an hour ? People should care.
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crocodile
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Re: Whats The Current National Minimum Wage?
Reply #43 - Nov 10th, 2019 at 5:29pm
 
aquascoot wrote on Nov 8th, 2019 at 1:40pm:
Croc I thought you were smarter than that.

You should brush up on " one belt one road "

It's not about being smart, dumb or otherwise. Just plain ol' observation. China is a low productivity country. The mean annual production of one worker being US$7,318 and the world average of US$18,487 while advanced countries like the US, Europe and Aussie are US$98,990. Chinese productivity is around 7.8% of ours and that reflects their low GDP per capita and hence the remark "enjoy the awesomeness"

http://simecons.com/labor-productivity-in-china/

The belt and road initiative requires no brushing up. The strategy is more about maintaining Chinese hegemony in the region than it about economic output. Regional Chinese infrastructure is years behind so the project has benefits but is also costly with a price tag in today's money of US$1.2 trillion. That needs a lot of extra GDP growth to pay for it. A geopolitical problem isn't easily solved by throwing cash at it.


China is building 3 super fast rail networks to Northern Europe.
Central Europe thru turkey and thru Pakistan to the sea.

They are the biggest infrastructure players in Ethiopia, Kenya and Nigeria. The Sudan and Pakistan.
They recently opened 52 factories in Kenya.
They just completed their 10,000 rail trip to London.

Though of a similar population to India, they are building infrastructure at 12x the rate.

They are constructing a city the size of Perth every fortnight as they urbanise.
They are building a super grid to power all if Asia and Africa.

It would appear the USA is in deep trouble.
It's school system is falling apart.

China has more engineers at university then the USA had engineers.

Yes, I know. I get the odd Chinese engineer for work experience. I often can't fault their theoretical knowledge but they tend to be short on problem solving ability. Unfortunately, China are good copiers but short on innovation. How many patent applications have they made ?


It connects 50000 people to the power grid every day.
It connects 50000 people to running water every day.

They have to start somewhere. It would be difficult to even find 50,000 people without power and water in the US not by choice.


With the use of CRISPA gene splicing, it will soon be able to produce enhanced humans with higher IQ and other skills.

Works both ways. Just as much chance of producing a dud as well.


There is NO REASON whatsoever for Aussie workers to tell themselves a BS story that their labour is worth 5 x that of a Chinese worker.

That isn't true. Maybe in jobs where productivity is low but not otherwise. High wages are perfectly sustainable as long as they match productivity. Chinese wages are low due to low productivity and not much else.


If Aussies want iPhones made in china, then we accept global markets and we MUST accept global benchmarking for wages.

Accept it or it will be enforced upon you eventually.

All jobs with low productivity and limited skill. Jobs being lost to China are all low productivity and lower skills. There is nothing wrong with this. It is not the absolute cost of production that determines whether or not a new location is sought. This decision will be based not on absolute cost but on opportunity cost. There is a world of difference.


The current crop of entitled fools like gweg and knight think they can live 5x above their value because, because,..... Well just because.

We both get that Peccerhead, Nails and co are fools living in a world where gimme might mean something. They haven't quite made the connection between productivity, skills acquisition, capital deepening and wages growth. Their hero, Super Sally is even more clueless.


Guess what, that is a game that is coming to an end very soon my friend.
And you as an economist need to recognise that and the population needs to prepare.

It is always in a state of flux. China has a long way to go yet. Their problems of low capacity utilisation and low productivity will act as a handbrake as worker skills gradually grow. High labour inputs and low productivity don't compete with low labour input and high productivity in the long term.



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Very funny Scotty, now beam down my clothes.
 
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