The Reserve Bank has just cut the interest rate by 0.2 percent. While this might please mortgage holders and others paying oof debt, the question whether and by how much will the banks transfer this to their customers. Regardless of this, the government will not resist the temptation to talk this up as a testament to its good management of the economy. As for the banks. The small ones say they are passing the cut on. The big four have said no such thing. All they have committed to so far is that there will be a cut. They haven’t said by how much. Continue reading The Reserve Bank’s interest cut and the growing indebtedness of Australia→
A new financial year has just begun, and this is as good a time as any to consider the state of the Australian economy. The news we are getting from the official numbers is that it is looking good. Why? Because the official interest rate is down. The implication, it is suggested by some commentators, is that the rise in the cost of living is down. Continue reading Australia’s economy is still far from having been fixed→
In the lead up to Anthony Albanese’s trip to China to talk to his counterpart there, Premier Xi Jinping, the China threat to Australia claim raised its ugly head once again. It was lapped up by the usual media hacks. We’ve heard stories about a ship cruising the Indian or Pacific Ocean perhaps veering a little closer to Australia posing a tangible threat. What about the one that the Chinese might send spies into Australia? Then there is the repeating story about the Chinese acting aggressively, when they object to an Australian battleship cruising within sight of their coast in the South China Sea.
Image from AP/ABC: Anthony Albanese’s is meeting with Xi Jinping
The BRICS summit came and went last week in Brazil’s Rio de Janeiro. Western media aligned with United States economic and political global leadership largely ignored the event. This is despite the participation of the 10 full members (Brazil Russia India China. South Africa, Egypt, Ethiopia, Iran, United Arab Emirates, and Indonesia) and 10 0ther Associate Members (Belarus, Bolivia, Cuba Kazakhstan, Malaysia, Nigeria, Thailand, Uganda, Uzbekistan, and Vietnam). More than 100 other nations are showing a keen interest, with many of them seeking to join the alliance. Continue reading The BRICS Summit 2025 was incredibly important and will have a lasting impact on the global order→
The threatened closure of South Australia’s Whyalla steelworks must be prevented for two reasons. The ability to produce steel products is a key strategic industry because these products are essential ingredients for many of the products we use. A healthy steel industry is essential to the rebuilding of Australia’s manufacturing base, and this is essential for the nation’s future economic prosperity. Continue reading Whyalla steelworks must not be allowed to close→
Morgan Stanley, one of the biggest American multinational investment banks and financial services company, revealed that at the end of 2024, reported that United States corporate profits were on a high. Predictions so far this year are almost as rosy. How can such a well-resourced institution like this see a different reality to just about everyone else? This is an important question. Continue reading Morgan Stanley’s analysis unintentionally reveals rise of parasitic capitalism→
Donald Trump entered to the applause of his inner circle of supporters on 1 April, to announce his Liberation Day. This is where he announced a new wall of tariffs against impots from the rest of the world. Choosing April Fool’s Day will prove to be ironic. Trump and his backers have chosen to inflict serious wounds on their own nation and hurt most of the rest of the world as well. Continue reading It is up to us to stop Trump’s tariffs from hurting Australia→
Peter Dutton’s own budget alternatives released last night (27 February 22025) was marked by one overwhelming fact. There was almost nothing in it. H does not want to announce what would happen if his party became the government. This is ominous. Continue reading Peter Dutton’s budget speech was marked by dishonest evasion→
Despite the absence of an official election date, campaign activities are currently underway. The West Australia Ballot is over Labor lost 18 percent of the primary vote, but the Liberals failed to convert this to change their position as a non-event. The federal election will now be in May. The Albanese government has run out of time to do otherwise. Continue reading Dissatisfaction with the state of Australia will characterise the coming federal election→
Official site of the May Day Committee (Malbourne)
