Category Archives: Economy

Real Unemployment accounts for over 18 percent of the workforce

By Joe Montero

According to the latest statistics from Roy Morgan, unemployment stood at `10 percent in July. The Morgan rate differs from the 5.4 stated by the Australian Bureau of Statistics (ABS) for June, because it considers all those who would work, if they had the opportunity, and does not consider one hour of work during the survey week as being employed. The Roy Morgan is therefore much more accurate. Continue reading Real Unemployment accounts for over 18 percent of the workforce

Misconduct by banks and other financial institutions will not be stopped by tinkering at the edges

By Jim Hayes

Founding chairman of the Australian Competition and Consumer Commission (ACCC), Professor Allan Fels, has slammed the Australian Securities and Investments Commission (ASIC), and accused it of being a toothless tiger, when it comes to dealing with the misconduct of the banks. Continue reading Misconduct by banks and other financial institutions will not be stopped by tinkering at the edges

Corporations invested their Trump tax cuts into failing stock buybacks

This article by Eric Levitz (New York Magazine 9 July 2018), is about the real effect of the Trump cut to company tax, just 6 months after it was put into effect. It has not led to a revival in positive investment. On the contrary. Bad investment has been the result and of squandering money that could have been alternately put, to better use making lives better for Americans, concludes the writer.

Continue reading Corporations invested their Trump tax cuts into failing stock buybacks