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
As the reality of the biggest economic and job crisis experienced since the Great Depression hits home, and the failure of economic policy to address the underlying problems over decades becomes increasingly obvious, interest in alternative approaches to economic policy has grown. Continue reading A critical view of Modern Monetary Theory
While delivering this year’s budget, Treasurer Josh Frydenberg put a lot of effort towards trying to convince Australia that everyone is going to be made better off.
It wasn’t hard to work out that this was spin, to counter public hostility, and at the same time, push through the government’s political and economic agenda. Continue reading Budget will give to a few and impose a burden on the rest of us
Forty-nine eminent economists have called for a budget that provides stimulus to the economy and for the tax cuts, mainly going to the richest Australians, to not go ahead. Continue reading Economy needs stimulus and attention to the underlying problems
We know it now. Scott Morrison is forging ahead and bringing forward the intended tax cuts for the wealthiest Australians, and this is being sold, via a manipulative campaign against “taking money out of people’s pockets.” Continue reading Morrison’s tax cuts will hurt people and damage economy
Crony capitalism is alive and well in Australia. You can say crony capitalism exists when those who are administrating political power are for sale and hand out political favours in exchange. Continue reading Scott Morrison and the escalation of crony capitalism in Australia
Scott Morrison and his government are persisting with their plan to cut income tax. They are even talking about bringing the next stage forward. Continue reading Morrison tax cuts will hurt economy and leave most worse off
The inadequacies of JobKeeper are becoming more obvious the longer it continues. At first it was that many of those who were left without an income due to Covid-19 missed out. Continue reading End the transformation of JobKeeper into welfare for corporations and the rich
Yesterday, Treasurer Josh Frydenberg set the scene for a massive cut in government spending. The cornerstone of his presentation was the deficit blowout of $184 billion. The essence is that the money must come from somewhere. Continue reading Frydenberg signals intention to rely on old fallacies instead of a proper plan for the economy
The Australia Institute has released the outline of a plan to build a better economy as Australia moves out of the Covid-19 induced damage. This will undoubtedly attract both supporters and critics. Continue reading The Australia Institute puts forward its economic Reconstruction Plan
