@gusseting
You might well be. You don’t have to defend yourself, It’s no my wish to put you in that position. I merely pointed out that useful discussions are those where there is a single and clear topic and that divergences are distracting and can be misconstrued, that’s all.
And yes, you were alleging @johnquiggin is bought by the #FossilFuelLobby. He is an academic of good reputation and does have #economic insights that are worth considering no matter which side of politics one supports IMHO. As for the #AustralianInstitute, I like what #RichardDenniss and #GregJericho have to say almost without excception (Neither of them are bought by #Fortesque or the fossil lobby BTW).
I don’t really want to argue with you. Thruth be known I abhor confrontations, physical or otherwise. Let there be peace between us dear tooter.
#AusPol
Australian workers have been hard done by and tax reforms in the budget only begin to return some fairness | Greg Jericho
By Greg Jericho
The CGT discount not only increased the benefit to non-wage earners, it did so in a way that incentivised investing in rental properties rather than shares
#Australianbudget2026 #Housing #Australianeconomy #Australianpolitics #GregJericho
#GregJericho ‘s take on the #MayBudget26
The RBA is responsible for any increase in unemplyment in the near term and inflation is well and truly in #tRump ‘s hand, dear god… “A false narrative from conservative media and politicians is that government spending is driving inflation. 6It is not. Just last week the governor of the Reserve Bank, Michele Bullock, told us that the three interest rate rises this year would not “do anything for inflation over the next six months”. That makes it clear that inflation at the moment is driven by international factors – ie, the conflict in the Middle East.”
Greg laments current policies: “The thing is, voters like government services. They consistently vote for them; they consistently hate privatisations. Maybe the government could think about that fact, rather than worry about what media organisations that hate government spending think.”
But he rightly lauds the “vital move to shift away from treating housing as something to speculate on and back to it being about having a place to live.” That is not a big surprise given the ‘press leaks’ but it has been a long time coming.
With some long-awaited sanity on housing and taxes, including CGT and negative gearing changes, it’s one of the most important for good – but will still leave some out in the cold
As expected, #GregJericho does not mince his words in his latest criticism of the #RBA. In fact, he shows the RBA for what it truly is, a proxy for the #BCA (Business Council of Australia), the all powerful #NeoLiberal #Lobby.
“the RBA really does not give one damn about inflation or even “inflationary expectations”. Truly – Michele Bullock has belled the cat on this now that she has admitted raising interest rates has nothing to do with inflation.
All the RBA cares about is wages growth – they do not, under any circumstances, want workers to think they should be getting a decent wage rise.
Company profits? Oh gosh, well, those need to remain strong. Bullock told reporters that companies should raise their prices to cover costs, because otherwise, in her words, “they would go bust”.
Read more: https://thepoint.com.au/opinions/260506-rbas-decision-to-raise-rates-hurts-australians-for-no-reason
#TaxTheRich #AusPol #JoinYourUnion #WorkersUnite #NoMoreBillionaires #RegulateTheMarkets #DisempowerTheBanks #ProgressiveLegislationNow #TaxReformNow
The Reserve Bank of Australia’s (RBA) decision to raise the cash rate to 4.35% was bad enough, but RBA Governor Michele Bullock’s explanation in her press conference on Tuesday afternoon saw her abdicate the RBA’s position as a useful economic institution.
In this budget, all eyes are on CGT. But Labor’s rumoured family trust tweaks might also help fight tax inequality | Greg Jericho
By Greg Jericho
If Albanese’s newest budget can tame discretionary trust tax dodging, it will be a good step in ensuring the rich are treated the same as the rest of us
#Australianeconomy #Tax #Inequality #Australianews #Australianbudget2026 #Laborparty #Australianpolitics #GregJericho
In this budget, all eyes are on CGT. But Labor’s rumoured family trust tweaks might also help fight tax inequality | Greg Jericho
By Greg Jericho
If Albanese’s newest budget can tame discretionary trust tax dodging, it will be a good step in ensuring the rich are treated the same as the rest of us
#Australianeconomy #Tax #Inequality #Australianews #Australianbudget2026 #Laborparty #Australianpolitics #GregJericho
It sounds like #GregJericho is about to throw in the towel and give up any hope that the #RBA will mend its ways and hence forecasts a #Recession… eventually.
“At least the impact is not as large as it was in 2022 and 2023 when profits soared after Russia invaded Ukraine, causing oil, gas and fertiliser prices to spike.
Good thing nothing like that has happened recently … oh wait, I am being handed a note.
And so, we wait to see the damage in the March figures and know that, regardless of the cause of inflation, the RBA is likely to blame workers – and they will hold to that view even if it means a recession.”
Read the article here:
https://www.theguardian.com/business/grogonomics/2026/mar/26/australia-inflation-profit-margins-fuel-crisis-supply-chain-shock
#AusPol #Economy #Inflation #NeoClassicalEconomics
[edited for typos]
#GregJericho lays into the #RBA ‘s latest gaffe.
[The RBA said] “in addition, the conflict in the Middle East has resulted in sharply higher fuel prices, which, if sustained, will add to inflation. Short-term measures of inflation expectations have already risen. As a result, the Board judged that there is a material risk that inflation will remain above target for longer than previously anticipated.” This is a total failure of basic economics, and suggestive of a panicked RBA board.
The impact on oil prices is due to the attacks on Iran and the blockage of cargo through the Strait of Hormuz. Nothing the RBA does will affect that.”
Read that again: “NOTHING the RBA does” will mitigate fuel cost increases due to the crisis in the MIddel East.
It couldn’t be clearer. An Economics 101 student would not even need the clarification. What is the RBA doing FFS? It seems clueless at times.
Labor must stop juicing house prices and make buying a home the Australian dream – not negatively gearing one | Greg Jericho
By Greg Jericho
The rumours of action on the capital gains tax discount and negative gearing are louder than before any budget this century. But is the PM up to the task?
#Housing #Laborparty #Australianews #Australianpolitics #Tax #Australianeconomy #GregJericho
I never get tired of tooting #GregJericho ‘s articles, because what he says, most of the time, is not just informative, it’s a booster shot against the #FakeNews and #EconomicMisInformation the #msm spews out — unfortunately with that much misinformation being the main narrative of all but a few news outlets and the #FifthEstate, a lot of it is bound to be believed as truth: like the furphy about increasing wages driving up inflation — everyone should know by now the inflationary dragon is #GreedFlation.
“There hasn’t been a wage breakout since I was in primary school but do not worry – the RBA is still on the watch, ever on alert to raise interest rates in an effort to increase unemployment and lower wage growth.”
Read more:
https://www.theguardian.com/business/grogonomics/2026/feb/18/real-wages-fall-australia-workers-economy
But the RBA is not about to let a debuked economic theory go to waste. So Greg is warning us of another rate rise likely to come if the RBA stays true to form — and why shouldn’t it?
Read more:
https://thepoint.com.au/opinions/260220-dont-panic-rba-low-unemployment-is-a-good-thing
#RBA #NeoClassicalEconomics #NeoLiberalEconomics #AusPol #CashRate #Inflation #WageGrowth
RaymondPierreL3
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