Evidence from the US and New Zealand is that even at very low levels of unemployment, wages will continue to stagnate.
A torrent of economic data emerged yesterday to suggest the stagnating economy is at risk of turning into something worse.
The Reserve Bank has suggested monetary policy has done most of what it can for a stagnating economy — and that it's time for the government to step up.
Despite the government's claims that wages growth is picking up, it fell in the December quarter. Scott Morrison's 'quiet Australians' face years of minimal pay increases.
The Reserve Bank has revised its economic forecasts down and now says there'll be no noticeable growth until Christmas 2021.
No matter what Australian workers do, business demands an ever more comprehensive victory over them.
Australia's stagnation will continue unless governments take clear steps to address it. At the moment neither the government nor Labor are facing it.
From energy policy to Indigenous recognition, the government's lazy approach has left the country to stagnate.
Stagnation has become the defining characteristic of the nation under a government determined to maintain the status quo — to lock Australia firmly in place, incapable of progressing.
When Frydenberg forced the question of why businesses aren't investing in Australia, a convenient amnesia seemed to take over.
