Australia: adopting French labour market laws

Bit by bit, the Federal Labor Government is changing Australia’s labour market laws to be more like that of France. The latest attempt to rewrite the anti-discrimination law is another step in implementing French-style industrial relations legislation in Australia.

This is a recipe for a grievance industry, low productivity growth, high unemployment and a growing distrust between employers and employees. It will further cement the rights of insiders (those who already have a protected job)  against outsiders (the unemployed and those on the disability pension who are seeking jobs). It will encourage employees to stay in jobs that they hate, because of the inability to move to a more satisfactory position. It will discourage employers from giving a go to potential new employees for fear of an over-the-top discrimination case. Where previously an employer would think “I’d better get another employee”, instead the employer will try and muddle through. In other words, the Government’s policies promote hatred between employers and employees.

Unions and other employee advocates will be the winners. Employers and employees will be the losers – the former due to lower economic growth and fewer opportunities to make innovative change; the latter because of slow productivity growth and hence slow wages growth.

The Government seems committed to destroying every competitive advantage that Australia offers. Yes, our IR system will become more like France, but we do not have the accumulated infrastructure and other capital that France is presently running down so our pain will be more acute than that of France which can continue its present path for somewhat longer.

Nick Cater outlines the growth in the human rights industry in Canberra – a pathetic organisation which should cease to exist.

Australia and Argentina enjoyed the highest per capita living standards at the start of the 20th century. Both countries retreated rapidly from the top as they adopted supremely bad policies; in Australia’s case the dominance of protectionism. Finally economic reforms under the Hawke/Keating and Howard Governments, in conjunction with a dynamic and productive labour force, pushed Australia back up the ladder, while Argentina, unable to reform itself, remained stuck at the bottom.

It seems that the era of good economic and social policies ended about six years ago. Australia has entered a new era of protectionism; not tariffs on the imports of goods, but human rights and inflexible industrial relations laws. The bad policies may be different, but the result will be the same. An inexorable decline in relative living standards until the Australian population wakes up and demands sensible policies.

About J

J has an economics background and is a part-time consultant
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72 Responses to Australia: adopting French labour market laws

  1. Alfonso

    And anyone who opposes it will be “bringing back Work Choices”.
    Abbott is in another corner, all Julia needs are sound bites on tv news to tell the punters Tony wants to punish them by “attacking their conditions”.

    Nice work, easy yards for Labor. Nothing like setting up an CAGW believing welfare statist….he probably deserves it.

  2. faust

    I doubt it will be similar to the French labour laws… however, I have been involved in many corporate fundraising in Europe and labour laws are reviewed in minute detail by investors whenever I have dealt with firms that have operations/production in France

  3. Toiling Mass

    …pathetic organisation which should cease to exist.

    You just know that this will be understood by trolls and government ministers as:

    1) He/She is opposed to the Human Rights Commission

    2) Therefore he/she is opposed to Human Rights

    3) Therefore he/she wishes to create a Dickensian nightmare.

  4. Des Deskperson

    ‘the growth in the human rights industry in Canberra’

    ACT Human Rights Commissioner is one Helen Watchirs. She is the relict of a former ACT Government Labor Minister, one Terry Conolly. This gives her a chachet, in ACT Labor circles, that’s roughly equivalent to the combined auras of the late Queen Mother and the late Rose Kennedy. What she wants, she gets.

  5. Rabz

    “Drugs and syringes do inevitably find their way into the correctional facilities,” the commission’s submission to the ACT Health Directorate says breezily. “Harm minimisation is a rational response to the problem.”

    Unfriggingbelievable.

    Isn’t heroin illegal? Why is the abuse of illegal drugs being facilitated by the state in its’ own ‘correctional facilities’? How is allowing inmates to abuse drugs contributing to their rehabilitation?

    Seriously, people ought to be sacked and/or jailed over this inexcusable, criminal idiocy.

    FFS, what a bunch of useless pandering pansies.

    Fire. Them. All.

  6. Rabz

    Who watches the Watchirs?

  7. Token

    This is would be a joke if it wasn’t real:

    That is of little comfort to Helen Watchirs and her 23 colleagues at the ACT Human Rights Commission, who depend on locally produced injustice to fill their working day. It is, to put it mildly, a challenge in a jurisdiction of just 360,000 people where more than a quarter of employees work for the federal government and the average household weekly income is 55 per cent above the national average.

    Imagine being appointed Human Rights and Discrimination Commissioner in a jurisdiction when the five largest ethnic groups are Australian, English, Irish, Scottish and German, in that order. The difficulty for the human rights industry is that ethnic minorities form, by definition, a small market, especially in Canberra. They are growing a little: the 2011 census found more than 12,000 ACT residents were born in India or China but Canberra’s problem is that it is so infuriatingly open-minded.

    The stabbing of an Indian student in Melbourne three years ago appeared to open a door of opportunity; in November 2009, Watchirs issued a press release: “While the commission is yet to receive reports of any race-based violence or discrimination against international students, I would encourage any student concerned about such issues to also contact the commission.”

    Nothing doing.

    After reading the article by Caton, I’m coming to the view that the ACT should be shut down and put into receivership.

  8. Rabz

    I’m coming to the view that the ACT should be shut down and put into receivership.

    I demand the role of chief administrator.

    You know it makes sense.

  9. Ian

    I see the CFMEU is at it again – this time picking on someone much smaller than Grocon.

  10. James Bauer

    Gillard was installed by the unions. They literally control her. She’s a puppet. Rudd, idiot though he is, wasn’t crazy enough to go back to anything but what was around pre-WorkChoices. Gillard has gone back to pre-1993 reforms, and she’ll go further.

    Will the pussy Abbott call her out on it? I bet not.

  11. candy

    perhaps it will mean employers will prefer to employ only healthy, maybe white, youngish people, with no particular family demands, to keep risks at a minimum so thereby keeping poentially good employees out of a job?

  12. jupes

    In 1945 ‘Human Rights’ made sense. They were to stop the evil perpetuated by the Nazis and Imperial Japanese.

    Then came the UN.

    Now ‘Human Rights’ are both an industry and a scam. And they don’t advance the cause of humanity one iota.

  13. Rococo Liberal

    All anti-discrimination laws must be repealed.

  14. My dad must be rolling in his grave. As a policeman, he hated the criminality of the unions. I never thought I’d see it again, yet here we are. Labor are a party for cronyism, using workers as voting useful idiots.

    What I liked about 1974 was Lillee and Thommo, not union criminality and thuggery, yet here we are, without even the benefit of Lillee and Thommo!

  15. Uber

    Nice summary. This was enormously accelerated with Gillard’s posting as IR Minister under Rudd. Sadly I can’t see the LNP unfolding these issues – they don’t have the understanding or the will, or the ability.

  16. Uber

    Token, given my German descent I think I might move to Canberra and get myself some discriminatory rents from those Pommie/Irish/Scottish/Aussie bastards.

  17. Jannie

    After reading the article by Caton, I’m coming to the view that the ACT should be shut down and put into receivership

    Thats why importing boatloads of dysfunctional and oppressed minority groups is a good thing, it gives our grievance industry work and it keeps the ACT economically viable.

  18. thefrollickingmole

    Abbott only has to do one thing to destroy unions/labour when he obtains power.

    Royal commission into union rorts.

    Thats it, one thing.

    Why risk a “workchoices took my baby” campaign again?
    Within 2 years of a RC the unions will have expended a lot of capital, which cant be used to prop up the ALPs media ads for the next term of government.

    I choose to believe thats the game the Libs are playing, getting all their ducks in a row for that one thing…

  19. We can’t do much until the Australian voting population starts to realise that stupidity in government is a bad thing.
    Sorry everyone, but it’s got to get worse before it gets better. The wheel has to squeak before it gets greased.

  20. papachango

    Amazingly we’ve got a fair way to go before we approach French labour laws.

    Think forced 35-hour weeks for everyone, regardless of whether workers want more, mandatory worker engagement committees who must meet weekly, having to submit your downsizing plans to government for approval, and basically getting government approval whenever you need to fire someone. The approval won’t be forthcoming if you’re making a profit.

    All this and more in a 3,200 page rulebook that’s more than a century old and just keeps getting added to.

    Don’t tell Gillard / Shorten / Swan lest they get ideas….

  21. James

    As a small business owner – I would rather happily shrink my operations so that my family is at less risk of crazy, opportunistic HR claims.

    If too many GenX have the same idea, where will that put unemployment in a few years time. Combine that with retiring babyboomers. Good luck GenY!

    More compliance = less time with the kids = stuff that. Labor kills entrepreneurialism.

  22. Dr Faustus

    Royal commission into union rorts.

    Correct. But, one announced after the election, thank you.

  23. Pedro

    “I think actually many business groups will welcome this because instead of having to comply with five different laws at the commonwealth level, there will be one.”

    She said there would also be new processes where firms could ensure a defence against discrimination claims by having their human resources policies approved by the Human Rights Commission, and adhering to them.

    “It’s actually really a very good opportunity for people to enhance their processes but in a way that is very easy for people to understand,” Ms Roxon said.

    Businesses Rejoice! This is beyond parody.

  24. “She said there would also be new processes where firms could ensure a defence against discrimination claims by having their human resources policies approved by the Human Rights Commission, and adhering to them.”

    How long before this “option” becomes mandatory? No business would willingly nobble themselves with their employees empowered by the HRC by their own volition.

    What’s the bet there’s an interim change such as requiring govt tenders to have their HR policy endorsed by the HRC? There’s no way this is the end of this little wedge.

  25. thefrollickingmole

    The Beer Whisperer

    And how long before a union maaaate sets up the first union approved HRC approved mandatory training packages?

    Maybe they could get a catchy name for it, the “workplace reform association” or similar?

  26. handjive

    France stripped of prized ‘AAA’ credit rating by Moody’s

    The rating agency said France’s long-term economic growth had been hit by its inflexible labour market and low levels of innovation eroding its competitiveness and industrial base.

  27. .

    When Moodys loses faith in you (associated with the partisan Mark Zandi), you are simply too left wing to be competent.

  28. catnip

    If you want to work more than 35hpw start your own business or work in the private sector. Or get a second or third job. Public servants should not have to work more than 35 hours.

  29. .

    …nor should we pay them for more.

  30. Infidel Tiger

    Public servants should not have to work more than 35 hours.

    And they should be justly compensated for their lack of ability, drive and professional acumen.

  31. Scapula

    And Tory Britain is heading for a triple-dip recession.

  32. catnip

    And if a particular task can be done in less hours then the public servant should and often is paid for the full working week regardless of the actual hours spent working.

    The best bosses are not clock watchers or time keepers. Production to a satisfactory level is all that is required of staff. The timeframe is irrelevant for the purposes of pay. If the work can be completed short of the nominal paid weekly hours, so be it. This rewards fast, smart workers and in turn is attractive to people who want a full diverse life.

  33. Infidel Tiger

    This rewards fast, smart workers and in turn is attractive to people who want a full diverse life.

    These sorts of people are not in the public service. They are leading richly rewarding lives creating real value in the private sector. The public sectors role is to crush their dreams.

  34. blogstrop

    I seem to recall that the head of the Productivity Commission was to become persona non grata (or in French that would be l’homme sous bus) for suggesting that the Fair Work Act was having a negative impact on the nation’s productivity.

  35. Scapula

    I suppose the Orwellian-named Productivity Commission must house te biggest bludgers!

  36. .

    I suppose the Orwellian-named Productivity Commission must house te biggest bludgers!

    It must exist, constitutionally. It is in effect the Interstate Commission.

  37. papachango

    France stripped of prized ‘AAA’ credit rating by Moody’s

    I bet Hollande’s response was allong the lines of ‘je m’en fou’

  38. Scapula

    Hollande has been about as far right on domestic and foreign policy as one could expect from a putatively left of centre President.

    From the Telegraph:

    Company taxes will fall by €20bn a year equal to 1pc of GDP, to be phased in gradually by 2015 under a convoluted system of rebates.

    Premier Jean-Marc Ayrault said it amounted to a 6pc cut in unit labour costs, enough to close the gap with eurozone rivals. “France is not condemned to a spiral of decline, but we need a national jolt to regain control of our destiny,” he said.

    The mid-rate of VAT for restaurants and services will jump from 7pc to 10pc. The top rate will rise slightly to 20pc. Spending cuts will plug the revenue gap in order to meet the EU’s 3pc deficit target.

    Critics call it the most humiliating U-turn in French politics since François Mitterrand abandoned his disastrous experiment of “Socialism in one country” under a D-Mark currency peg in 1983.

    Mr Hollande came to office vowing lower VAT rates to protect the buying power of workers, and called business tax cuts a “gift to the rich”. He imposed €10bn of fresh taxes on firms just weeks ago in his 2013 budget, a move that set off a revolt by business leaders.

  39. .

    Hollande has been about as far right on domestic and foreign policy as one could expect from a putatively left of centre President.

    What a disgusting communist troll writing this.

  40. Carpe Jugulum

    “She said there would also be new processes where firms could ensure a defence against discrimination claims by having their human resources policies approved by the Human Rights Commission, and adhering to them.”

    How long before this “option” becomes mandatory

    Beer Whisperer – The following policy documents are required to be submitted with most State and Federal Government construction tenders;

    Corporate Conduct Policy
    Industrial Relations Policy
    Community Relations Policy
    Indiginous Relations Policy
    Health Safety & Environment Policies

    It is a friggin joke.

  41. Jannie

    Scapula, it takes some imagination to use the descriptor ‘Tory Britain’.

    It’s not Tory. It’s a postmodern Frankenstein. The dead body of th old declining classes animated by Botox and steroids from the left.

  42. Scapula

    And the Moody downgrade will have zero effect on France:

    With France’s 2 trillion euro economy teetering on the brink of recession, Hollande surprised many this month by unveiling measures to spur industrial competitiveness, chief among them the granting of 20 billion euros in annual tax relief to companies, equivalent to a 6 percent cut in labour costs.

    The government had already announced 30 billion euros in budget savings next year in an effort to meet its deficit goal and is working on reforms to labour laws to enable companies to hire and fire more easily with economic swings.

    French bond yields are close to record lows of just over 2 percent, nearly one percentage point lower than at the time of the S&P downgrade, allowing France to roll over its debt for free, in inflation-adjusted terms.


    Analysts expect a limit to any automatic selling by investors whose mandate only allows them to hold AAA bonds.

    “The amount of index-driven selling would be near zero. France is fair value relative to other euro-area sovereigns,”

  43. Dr Faustus

    And Tory Britain is heading for a triple-dip recession.

    Largely on the back of the eye-watering debt racked up by Blair/Brown during Labour’s time in office. Cool Britannia came at a cost.

  44. banz

    “What a disgusting communist troll writing this.”

    Yes, there will be more of them than us soon, sound familiar?

    In the end though, the left moves sooo far left it becomes the extreme right in many ways.

    Its just their cycle or turn if you prefer.

  45. .

    “Sovereign debt doesn’t matter”

    “France is an investment haven”

    “75% tax rates are so far right”

    I’m sorry but if I wasn’t outraged I’d be sedated.

  46. banz

    “Largely on the back of the eye-watering debt racked up by Blair/Brown during Labour’s time in office. Cool Britannia came at a cost.”

    You have a point Dr, but the inflection point has now been reached in many of these countries, they are now 1 party systems who take slightly different roads to the same outcome.

  47. Scapula

    The debt only blew up wildly due to the worldwide collapse of capitalism.

    Austerity as the remedy results in a greater contraction of economic growth which leads to more debt.

    The recent improvement is due to an uptick in economic activity that may prove transitory.

    In short, the graphs don’t show Labor to be too different from the Conservatives.

    Four out of the six surplus years are Labour years over a thirty year period.

  48. banz

    Relax dot, France is done, so is the UK, hell, you could put a fork in most of Europe, welfare states who cant pay pensions eventually, then the fun starts.

  49. Gab

    In short, the graphs don’t show Labor to be too different from the Conservatives.

    Wherever you got your little rant from, Scrappy, you forgot to copy da graphs.

  50. Jim Rose

    French and Australan employment protection laws are miles apart. It is illegal in France to lay workers off if the purpose is to increase profits

    Michelin decided to lay-off 451 workers. In February 2002, the French labor tribunal concluded that the layoffs were not justified. Michelin had to pay 10 million Euros to the 162 employees who contested the decision.

    The tribunal held that layoffs for economic reasons cannot be justified on the basis of improving the competitiveness or the profits of the firm, but only on the basis of maintaining its competitiveness. french laws are stricter now.

  51. Scapula

    They are the graphs cited by Dr Faustus, so you need to keep up Gaby.

  52. Gab

    In that case the graphs don’t support your narrative, Scrappy Boo Boo.

  53. banz

    “The debt only blew up wildly due to the worldwide collapse of capitalism.

    Austerity as the remedy results in a greater contraction of economic growth which leads to more debt.”

    No it wasnt true capitalism, it was casino capitalism, then the socialist bail outs began, let the taxpayers take care of it :)

    Austerity will reduce growth, would you prefer growth be funded by more debt? Wasnt it that debt that created these problems when that old bubble burst?

    Spending cuts are an absolute, its pretty simple sport, revenues are x, spending has to be x, you however would prefer spending to remain at x+y. That y is financed by debt, as it was pre burst.

    The infinite growth paradigm is BS, see what happens when it meets reality :) Ask the spaniards, the greeks, they were living a lie pre burst, that wasnt normal, what they are living now is closer to reality.

    They need to adjust.

  54. Dr Faustus

    In short, the graphs don’t show Labor to be too different from the Conservatives.

    Scapula: Couldn’t agree less. Under Thatcher the UK generally ran small deficits. Under Major, Lamont managed the inflation/recession/ERM crisis which caused the 1992/93 debt blowout – and Kenneth Clarke brought the budget back to surplus, just in time for Blair to enjoy the benefits.

    Labour on the other hand, took a surplus and steadily converted it to a whopping deficit by 2007/08 through increasing public spending on largely unproductive ‘nation building’ – the Cool Brittania spend.

    You are right in that the bailout response to the banking crisis (itself a reaction to ‘easy money’) in 2008/09 hit the deficit hard and the austerity contraction has not helped. But the net effect is not down to ‘Tory’ incompetence – just Labour’s propensity to spend other peoples’ wealth.

  55. papachango

    Can some lawyers please riddle me this – I’m genuinely puzzled.

    With the guy arrested on suspicion of the rape and murder of Jill Meagher here in Melbourne a few weeks ago, the media were at great pains not to show pictures of the accused, and there was a big campaign to stop facebook sites showing any detail about him like prior criminal history.

    Now they’ve arrested another person on suspicion of another murder, and the Age not only identifies him, it details his previous muderer conviction, and even has a screenshot of his Facebook correspondence with the victim. The screenshot even identifies other people posting to the guy’s wall without blanking out their names.

    This article came out shortly before the accused was arrested.

    How is this not severely compromisng the chance of a fair trial and a conviction if it was such an issue in the Meagher case?

  56. JC

    Hollande has been about as far right on domestic and foreign policy as one could expect from a putatively left of centre President.

    What a disgusting communist troll writing this.

    It’s Bob. He hasn’t taken his meds for a week.

  57. .

    Relax dot, France is done, so is the UK, hell, you could put a fork in most of Europe, welfare states who cant pay pensions eventually, then the fun starts.

    I dunno.

    The new Basel capital adequacy rules could force a sly verison of the gold standard on Governments.

    Such a move could see restrained spending.

    PS

    If you know there is a limit to growth, please specify what it is.

  58. .

    JC

    Answer some &^%$ing questions about Basel III on the main thread.

    GO!!!

  59. JC

    I’m off for dinner but I will as soon as I get back, Dot.

  60. Scapula

    So the Conservatives ran small and medium sized deficits and a tax dodgers’s paradise, but they don’t like to spend the middle class’s money, hey Faust ?

  61. banz

    “The new Basel capital adequacy rules could force a sly verison of the gold standard on Governments.
    Such a move could see restrained spending.
    PS
    If you know there is a limit to growth, please specify what it is.”

    Dot, heres the trick, dont listen to what they say, watch what they do. The people will DEMAND spending, thats all you need to know. The Euro was backed by 35% Gold in the day, you know, when it was trading at $300 or so. Would have a hell of a backstop in terms of gold, of course, that was before the ECB decided to buy 100′s of billions of junk sov debt.
    There is no out at this point, its QE to infinty, whatever is needed will be provided, all of em, the US, Japan and EU. It dont matter anymore, they will end up choking on it :)

    Limit to growth? Debt destruction, which is joined at the hip with our good friend currency, look at the graphs showing the relationship between debt and GDP, its tailing off now, we need more and more debt for smaller returns, diminishing returns blabla.

    Limit to growth? Hyperinflation, finite resources, deflation, energy costs, pick your poison, its all happening slowly.

    Does not matter anymore, it is what it is.

  62. Carpe Jugulum

    So the Conservatives ran small and medium sized deficits and a tax dodgers’s paradise

    Scrappy – please (and i am asking politely) stop wandering around the blog wearing your floppy clown shoes and wig.

    It is getting cringeworthy.

  63. banz

    “The new Basel capital adequacy rules could force a sly verison of the gold standard on Governments.
    Such a move could see restrained spending.”

    And if Gold explodes in price :) Are you thinking $1600 gold? try $5000, try $20,000? There can be no restraints for these people, the system is done its rotten to the core, go red team, go blue team, no difference at all.

  64. .

    Limit to growth? Hyperinflation, finite resources, deflation, energy costs, pick your poison, its all happening slowly.

    Can you explain how hyperinflation and deflation work together? Or how we’re running out of resources when reserves and mined supplies are at all time highs?

    Banks can’t lend out gold…not really in a commercial or retail sense. If Gold was Tier 1 then they’d take more on and the credit multipliers would fall. QE will be less effective and ordinary monetary policy will be less volatile.

    I don’t know what your point about diminishing marginal returns really exemplifies. DMR has been around since the classical economists. Since the end of the Cold War, even with the GFC, international growth rates and the global growth rate has accelerated. Are you saying it has plataued? Okay, but we’re not going to collapse.

    Demographics are probably more important than worrying about commodity prices alone.

  65. Jazza

    The IR laws(the Workplace Ombudsman etc) already are weighted against the small business owner–so this invitation to sue will just send more to the wall and quicker.
    My daughter is struggling badly in retail in the God,Coast area and had this experience:
    A young woman was employed casually for some five months,on an agreed variable roster,with the requisite breaks provided.When she left with her boyfriend to go to WA, she was farewelled and thanked and there was no dispute. A month later, the Qld Ombudsman wrote asking for all details of her employment as she had alleged she had been underpaid the whole time.
    It took about six months, numerous extra book keeping hors to make all details available, but my daughter didn’t state one fact she could have, that the lass had for the last month of working, taken an hour for lunch when the terms were half an hour–but she had not been docked pay.My S in Law actually rang her and asked why she had caused them this grief when she had not mentioned any claim when employed, She haltingly claimed her boyfriend was in a union and he told her she had been underpaid, as she had “worked as a manager” That was untrue but seemingly because on one shift she had a key to open the shop in the morning, she was claiming she managed the shop, which already had a manager designated to whom the lass had deferred,so she really was aware of how the business ran.
    The upshot was the Ombudsman found some minor addition discrepancy and awarded her the princely sum of $6.00

    My daughter paid in the stress this unnecessary trouble placed upon her and of course hundreds $ in accounting costs!
    I shudder to think of the “claims” that will emanate once Labor brings in this latest dire impost on employers!
    Someone should tell them the way to provide jobs is NOT to make live unbearable for entrepreneurs trying to make a quid!

  66. banz

    My first response was “debt/currency destruction”, or debasement if you prefer.

    The rest will be symptoms, explain what? We generally already have deflation in most asset classes whilst inflation in everything we need, think essentials.

    The only resource that matters is oil, the sweet, light, cheap, easy to get at stuff, you know, 1 barrel of energy gets you 100 more. Ghawar, Cantarell the supers, the supers we do not find anymore. Shale, Tar Sands, proof of peak oil, the stuff they left for last.

    The central banks own the gold dot, thats all you really need to know.

    Growth rates, you mean where they find new ways to calculate GDP, you know, that makes it go up..and new ways to calculate Inflation and unemployment, suprisingly, they go down, who would have thought.

    The entire system is broke, with all this growth over the last 100 years the system is broke, nations are broke, what books are you reading? Look at reality, charts…LOL, GDP numbers that are revised down 2 years later, unfunded pension schemes all over the world, ZIRP, LIRP, rescue funds, bond rates, direct debt monetization by the Fed and ECB, BOJ, BOE, what books are you reading? what growth rates or debt levels do you believe?

    You choose your poison, this has nothing to do with economics anymore, probably hasnt for a long time.

    Debt rules.

  67. .

    She haltingly claimed her boyfriend was in a union and he told her she had been underpaid, as she had “worked as a manager” That was untrue but seemingly because on one shift she had a key to open the shop in the morning, she was claiming she managed the shop, which already had a manager designated to whom the lass had deferred,so she really was aware of how the business ran.
    The upshot was the Ombudsman found some minor addition discrepancy and awarded her the princely sum of $6.00

    Boyfriend sounds like a real fucking blockhead. Yep she picked a real winner, lodging claims that are invalid and cleaning up $1.20 per month (maybe 1 cent per hour) in sundries/miscalculation.

  68. .

    banz – a recession will clear out the malinvestments. QE is keeping a dead patient alive in a state of undeadness.

    We didn’t run out of rocks in the stone age. Don’t worry.

  69. banz

    Dot, 700 trillion in ders, bankrupt nations, QE will not end, it cant, they had the chance to flush, they decided otherwise.

    Not worried at all, ready as I can be, next 3 years will tell the story.

    Lucky for us, there are plenty of rocks left :)

  70. banz

    There is plenty of oil..in tar sands..shale..below the artic shelf, problem is its not cheap oil the NREI drops markedly.

    Its a low growth/recession driven world and there sits Brent crude @ $110 a barrel. Amazing :)

    Demand has to be reduced, its already happening, carbon taxes, emissions trading..

    Yes there is plenty of oil, but its not cheap oil anymore.

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