It is time for the Australian citizenry and First Nations to resume their rightful ownership and custodianship of the land’s eco-geology. The present inequity between the country’s wealthiest yet internally feuding family and the nation’s struggling working and homeless poor is obscene. As judged by the Gini coefficient, inequity is increasing in Australia and is Continue reading »
Economy
Monetary policy operates with a lag. The pain from increased interest rates is only now starting to really bite. However, the substantial increase in interest rates is reducing demand and thus bringing inflation down. While on the other hand, further interest rate increases add to the risk of a recession. It is time therefore to Continue reading »
Prescription co-payments are imposed by the Federal Government for subsidised drugs. Australians pay $1.6 billion a year in co-payments. Why do we continue to have financial barriers to accessing these drugs? Co-payments are $7.30 or $30 per prescription for Pensioners and Health Care Card Holders, or the remainder respectively. Scotland, Wales, and Northern Ireland abolished Continue reading »
An attempt by a branch of the ACT Labor Party to protest the tripartite AUKUS security pact was blocked over the weekend in what members believe is a consequence of Anthony Albanese wanting to quell dissent on the issue, writes Phillip Coorey in the Australian Financial Review Amid significant unrest among rank-and-file members – primarily Continue reading »
Australia’s first wellbeing framework, announced by the Treasurer under the Measuring What Matters banner, is important and can play a vital part in setting national direction and navigating significant challenges for Australia in the years to come. The framework uses larger and more diverse data to bring depth and resolution to the picture drawn by Continue reading »
Accountancies have bolted on non-accounting services in the same way pharmacists dispensers bolted on front-of-house sales of cosmetics and liquorice. Like tinkers of old they knocked on the doors of organisations: ‘Any jobs we can do for you?’ Craftsman: Definition. One proficient in a craft or trade. (One who knows how to fix their stuff Continue reading »
Peter Dutton incessantly declaims about the cost of living crisis, blaming the government. But what would he do instead? First, we need to remember that the Albanese Government inherited the cost of living crisis. Indeed, like Dutton does now, Labor similarly complained about the cost of living crisis when they were in Opposition. The difference Continue reading »
Increasing interest rates hasn’t quite done the job; now we are told we need to increase unemployment to curtail inflation! Roll on the lunacy of conventional central banking and treasury inflation policy. Can some lessons never be learned? In 1989, I was a junior member of the Hawke Government Caucus Economic Policy Committee. We regularly Continue reading »
The ground has been shifting under the feet of the world’s central bankers, including our own Dr Philip Lowe, the outgoing chief of the Reserve Bank. This has weakened the power of higher interest rates to get inflation down. Like all economists, central bankers believe their theory – their ‘‘model’’ – gives them great understanding Continue reading »
Australia is now at a key point in our Defence major project acquisitions planning. We are looking at a very dodgy AUKUS scam which will be the driver of our largest ever Defence expenditure. Brian Toohey in this publication recently pointed out some of the serious problems of buying obsolete 2nd hand nuclear submarines from Continue reading »