Economics writer for The Guardian and policy director at the Centre for Future Work, Greg Jericho, is right to counter the Reserve Bank of Australia (RBA) deputy governor assertion that the economy is over heated and needs slowing. Andrew Hauser made this comment in during speech last week at an event of the Economic Society of Australia. Greg Jericho was also right to back Australian Treasurer Jim Chalmer’s retort that the economy doesn’t need slowing. Continue reading High cost of living and inflation the result of bad debt and stagnant wages→
It appears that Australia’s prime minister is shifting towards greater interventionism to repair Australia’s economy. Does this mean neoliberalism has ended for Labor? Or does it mean something else?
Labor’s proposed Future Made in Australia Act it is claimed, is a package to do just this, and it even boasts that a part that will see significant government investment to rebuild Australian manufacturing, which will create thousands of new jobs and provide an opportunity to move towards a sustainable low carbon economy. Continue reading Albanese promises a new manufacturing economy for Australia→
Anger against big price rises by the Coles and Woolworths supermarket duopoly has been on the rise in recent times. The Australian community believes that the extent of these price rises is unjust and that it amounts to robbing their customers. This makes perfect sense when you look into it. Continue reading Public anger results in promise to curb supermarket monopolies→
Some of the agencies that tell us how the Australian economy is going seem to be exhibiting a bit of honesty. The reason for saying this is that analysis and predictions are routinely conditioned by business needs. Institutions like banks and financial advisers, and others profiting from providing good news to their clients, have an incentive to mould their reports in this direction, Government agencies have their own incentive to take account of the political agenda of the government that that employs them.
Anthony Albanese faced a great deal of opposition to his promise to keep Scott Morrison’s promise for big tax cuts for the very rich since the day of the election that made him Prime Minister. In fact, it threatened to Cause instability within the Labor Party. The angst was just contained in last year’s national party conference in Brisbane last year. Continue reading Albo’s tax cuts change more public relations than substance→
In the wake of the fiasco of the voice referendum and a response to Israel’s attack on Israel that pleases no-one, the Essential Poll commissioned by the Guardian newspaper has revealed that more people disapprove than approve of Anthony Albanese’s performance as Prime Minister of Australia and the direction in which the country is going. Continue reading Australia demands a change in direction according to the latest Essential Poll→
The amazing ability of our politicians, whether we’re talking about the government or opposition, to admit that the vast majority of Australians are becoming progressively worse off, and that this has its genesis in fundamental structural weaknesses in the economy, speaks volumes. Continue reading Australia’s economy still crying out for a change in direction→
The latest Essential Poll reveals that the majority of Australians, that is 53 percent, are struggling financially. Many of the respondents said that rising interest rates are the biggest burden. This has added to the cost of buying a home and imposed significant increases in mortgage payments. And the increasing price of homes pushes up rents. Continue reading The interest is going up and not for the reasons they tell us→
The banks and other institutions are saying that the Reserve Bank will most likely put up the interest rate in November. The reason they give is that Australians are earning too much money, because unemployment is so low. This means that too much money is chasing too few goods and services and causing inflation. Their solution is a few more unemployed and keeping wages down, ad tools to dampen excessive their clam that there is excessive demand for goods and services. Continue reading Interest rates will go up for reasons that are other than those they tell us→
