One constant during the present crisis has been a the downwards direction global share markets are travelling. On some days they fall more sharply than at others. The current plunge has been caused by a new spike downwards of the price of oil, which is now sitting at a negative $US35.20 to $-37.63 a barrel depending on United Kingdom or United States prices. Continue reading Why is the price of oil falling and what should be the response?
It hasn’t sunk in yet how serious the social and economic impact from the Covbid-19 outbreak will be. But it will. There is no way to escape it.
A concerted effort to mitigate the harm and protect the vulnerable is a necessity. Many have commented about the rise in poverty in recent times. As bad as its been, this is nothing compared with what’s coming around the corner. Just about every household will feel the effect. Continue reading The present crisis is pushing Australia to make a choice about which road we take from here
After a great deal of speculation, the Reserve Bank of Australia cut the interest rate from 0.75 to 0.5 percent on 3 March. The move has its fans and critics. The truth that many seem to miss the point. Whatever the intention, the power to arbitrarily effect the interest rate is seriously limited. Continue reading What does the Reserve Bank’s lowering of the interest rate again really mean?
Last week’s new ABS figures continue the gloomy outlook for the Australian economy, and especially for the prospects of an improvement in jobs and wages. Continue reading Wages not rising largely because of rising casual and insecure work
The 0.4 growth in Australia’s Gross Domestic Product (GDP) announced in Wednesday’s (4 November 2019) report from the Reserve Banks, is a miserable performance whichever way you look at it. Continue reading Latest news shows Australia’s economy is continuing to weaken
By Joe Montero
The American job creation fiction constantly presented is important for Australia for two reasons. One is that the Australian economy is significantly integrated into the American one, and what goes on there is going to have an impact here. The other, is that Australian governments have the habit of falling into line with American policy, and this includes economic policy. Continue reading The truth about American jobs and its replication here in Australia
By Joe Montero
The worrying rumbles threatening a storm within the American economy are getting louder, and we’d better all watch out. Continue reading The American economy really is in trouble
By Joe Montero
Just about everyone is talking about the dark economic clouds on the horizon. The numbers and politics don’t look good. The only certainty is that both the global and Australian economies are becoming increasingly unstable. Continue reading The truth about unemployment in Australia must be told
Australian Bureau of Statistics (ABS) retail sales figures released on 2 August confirm that the nation is entering the worst retail trade period ever recorded. In a nutshell, the Australian the economy is in real trouble. Continue reading Keeping on pretending the economy is good is self-defeating
