Australia’s is not a capitalist economy as they would have us believe. It is extremely monopolised, and the biggest corporations are closely linked to government. Many of them depend on generous welfare handouts to them and the ordinary taxpayer has to foot the bill. This is not the fabled free market.
Category Archives: Economy
Morrison government is pretending to be serious about job creation
Contributed
Beware. Australia is facing a mayor public relations offensive to spread the lie that the Morrison government has a great record in creating jobs and shaping up to do even better. The aim is to throw sand in our eyes and stop us from seeing that the opposite is true. Continue reading Morrison government is pretending to be serious about job creation
The 2021 budget must prioritise real jobs and lifting all incomes
By Joe Montero
It is a good time to consider the future of the Australian economy in the post-Covid reality. We are also on the eve of this year’s federal budget, which could be an opportunity to take an important step forward. Continue reading The 2021 budget must prioritise real jobs and lifting all incomes
For a budget that builds an economy for all
By Joe Montero
In the lad up to the coming Federal 2021-22 budget, the Australian Council of Social Service (ACOSS) has called for funding for tens of thousands of care-sector jobs, , including in aged care, disability services and mental health and not to proceed with planned tax cuts. Continue reading For a budget that builds an economy for all
Australia must do much more to reduce carbon emissions
By Joe Montero
Australia faces one of the world’s highest rates of animal extinction. The climate crisis also threatens grave human suffering, in the firms of food and water crisis , economic and social breakdown. Continue reading Australia must do much more to reduce carbon emissions
Shell to be allowed to avoid resource tax obligations
Contributed
At a time when Australia’s addiction to fossil fuels should be wound back, fossil fuel extractors keep on enjoying perks that rank them at the top of no tax paying corporations operating in Australia. Continue reading Shell to be allowed to avoid resource tax obligations
Big business and Morrison government want the minimum wage frozen
By Joe Montero
In its submission to the current minimum wage case, Australian Chamber of Commerce (ACCI) and Industry has put that Australia cannot afford it. It wrongly suggests that Australia already has one of the highest minimum wages in the world and poses higher wages as counter to creating jobs. Continue reading Big business and Morrison government want the minimum wage frozen
Systemic failure is wrecking Australian economy not the pandemic
By Joe Montero
Greg Jericho wrote (The Guardian 28 January 2021), “Covid-19 has actually hidden the weakness of the economy”. He hit the nail on the head and adds that “Australia’s economy has been weak for many years now”. The problem is that policy makers are now hiding behind the Pandemic to avoid admitting the truth, and this stands to make the situation even worse. Continue reading Systemic failure is wrecking Australian economy not the pandemic
Global economy may be closer to the edge than many people think
By Joe Montero
The talked about economic recovery form Covid-19 is being exaggerated for political reasons and has little to do with the real situation. There must be some increase in activity after coming out of a lockdown. Comparison from such a low base is almost meaningless. Measuring the difference between now and before Covid-19 would be more useful. Continue reading Global economy may be closer to the edge than many people think
Australia now has almost zero interest and billions for the banks
By Joe Montero
We must look closely to the Reserve Bank’s cut of the interest rate to 0.1 percent, the buying of $100 worth of government bonds, to provide protection to the banks and other financial institutions. Continue reading Australia now has almost zero interest and billions for the banks