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The National Party has called for every Australian under 35 on a parenting payment or Newstart should receive a cashless welfare card. Continue reading Promoters of cashless welfare card really want to cut benefits
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
Big finance and big media are behind the new rise of fascism
By Joe Montero
The way big commercial media reports on what is happening has narrowed down considerably in recent times. This is evident across most developed countries, and in Australia, this is even more true than in most.
Continue reading Big finance and big media are behind the new rise of fascism
Australia cannot afford to be fooled by new bank code of conduct
By Joe Montero
It’s just not good enough. The proposed changes to the Australian Banking Association (ABA) code of conduct won’t fix what is wrong with the banks. Continue reading Australia cannot afford to be fooled by new bank code of conduct
Australia’s debt crisis is real and needs to be dealt with
By Joe Montero
The proof is in. A personal debt bomb is ticking, and it has the potential to pull the Australian economy down the drain, if something is not done about it. Continue reading Australia’s debt crisis is real and needs to be dealt with
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
Average income is much less than we are being told
By Joe Montero
According to the government and reported by much of the media, the average adult in Australia has an income of $84,600. The so how does this match up with the reality that most seem to find themselves on the other side of this line? Continue reading Average income is much less than we are being told
Casualisation of work is rooted in the economic system
By Joe Montero
According to the Australia Institute’s Centre for Future Work, ABS data from 2012 to 2017, shows that full time work with leave entitlements has fallen to 49.97 percent and just 38.9 percent for those under 30. Part time work is the highest ever, Taking up 31.7 percent of the workforce. Continue reading Casualisation of work is rooted in the economic system
Video: This is what really happens when you give corporations a tax cut
Video: This is what really happens when you give corporations a tax cut
Watch this video clip for an easy to understand explanation that debunks the fallacy that allowing corporations to pay less tax results in more investment in the economy and more jobs. This applies to Australia too.
Video by Trae Crowder