Treasurer Chalmers lies as wages growth bombs

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This is the biggest lie I have seen spoken in Australian politics. It puts every lie by ScoMo to shame.

It is Treasurer Jim Chalmers claiming he has delivered on wages growth:

Here is the truth:

Or, try this CBA chart:

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As you can see, Chicken Chalmers has wiped out all real wage growth since 2009 delivered by both ALP and LNP governments.

And he’s not done yet.

Wage growth has topped out and will fall swiftly as the Chicken’s importation of mass Third World unemployed rips away local labour pricing power.

It already is, which is why wage growth has undershot market expectations all year:

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As well, inflation will remain sticky owing to quantitative peopling driving the rental shock, as well as the Chicken’s gas cartel energy calamity:

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That the Chicken can lie so directly into the faces of working Australians tells us everything we need to know about this bloke.

He is the biggest grub in the Parliament.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.