![\"Australia](\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2017\/2017-06-07-aus-wageindex.png?w=525&ssl=1\" "\\"Australia")
<\/p>\nFalling wage rate growth suggests that we are headed for a period of low growth in employment and personal consumption.<\/p>\n
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The impact is already evident in the Retail sector.<\/p>\n
![\"ASX](\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2017\/2017-06-07-xtrk.png?w=525&ssl=1\" "\\"ASX")
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The RBA would normally intervene to stimulate investment and employment but its hands are tied. Lowering interest rates would aggravate the housing bubble. Household debt is already precariously high in relation to disposable income.<\/p>\n
![\"Australia:](\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2017\/2017-06-07-aus-hhdebt.png?w=525&ssl=1\" "\\"Australia:")
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Like Mister Micawber in David Copperfield, we are waiting in the hope that something turns up to rescue us from our predicament. It’s not a good situation to be in. If something bad turns up and the RBA is low on ammunition.<\/p>\n
\nAnnual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery. The blossom is blighted, the leaf is withered, the god of day goes down upon the dreary scene, and — and in short you are for ever floored….\n<\/p>\n
\n~ Mr. Micawber in Charles Dickens’ David Copperfield\n<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"
Falling wage rate growth suggests that we are headed for a period of low growth in employment and personal consumption. The impact is already evident in the Retail sector. The RBA would normally intervene to stimulate investment and employment but its hands are tied. Lowering interest rates would aggravate the housing bubble. Household debt is … <\/p>\n