July 07, 2007
Rising house prices cause us to feel good --unless we have to take out a mortgage:

I'm not sure that the increase in the minimal wage announced by the Fair Pay Commission really makes that much of a difference. Of course, many neo-liberal economics would argue that the commonwealth government should do all it can to erode the minimum wage. Australia's minimum wages are too high by international standards--the second highest after France in the OECD countries.
And we all know that France is a basket case, don't we. Washington has said so. So it must be right.
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Well we're classic babyboomers caught in the middle - we want our own house to rise in value, we have an investment place courtesy of the benevolent CGT remission and we want to help our children into their own houses because it doesn't look like they'll make it on their own...