The recent dismal news on the economy and the enormous blowout in budget deficits represents a Rubicon of sorts.
I find it alarming that the astute Niki Savva sees Peter Dutton as electable despite his failure to produce a single,costed economic policy. Albanese,for all his faults,does stand for something other than himself.
The Reserve Bank and governments pumped hundreds of billions of dollars into the economy to deal with Covid. We are still counting the cost.
The RBA has a job to do,but let’s never forget it’s a bunch of unelected people wielding what amount to extraordinary powers. It’s not infallible,and it should not be verboten for an elected parliamentarian to note the effects of the RBA’s choices.
The reliance on interest rates to reduce demand is hugely unfair – and it is lacking in effectiveness.
Philip Lowe says the current tax system is hurting Australia’s productivity,with the GST rate too low and income tax too high.
The former Reserve Bank governor has joined the chorus of voices warning that interest rates may have to stay higher for longer.
For more than 25 years I taught with pictures of famous economists above the black/whiteboard to inspire my students. They were:Adam Smith,David Ricardo,Karl Marx,John Maynard Keynes and Milton Friedman. Guess who completed the row?
The Reserve Bank has,like clock-work,met on the first Tuesday of the month to set interest rates. That is about to end as it embarks on major reform.
A US court has voided billionaire Elon Musk’s $80 billion pay package,while the judge took a swipe at chair Robyn Denholm and board member James Murdoch.
Michele Bullock had been in a honeymoon period with Australia’s mortgage borrowers since she took the RBA’s governor role in mid-September. That’s over now.