If the economy grows as slowly as the IMF predicts it will for the next 2 years, Australia will be lucky to avoid a recession.
Increases in the prices of commodities like oil and gas are not a reason for the RBA to raise interest rates next week
This week Professor Allan Fels, the former head of the Australian Competition and Consumer Commission (ACCC), has begun an inquiry into price gouging across a range of industries, including banks, insurance companies, supermarkets, and energy providers. The inquiry commissioned by the ACTU comes off the back of the highest inflation in 30 years and the biggest falls in real wages on record.
We have now had two consecutive quarters of GDP per capita falling – hardly the soft landing the RBA wants.
The latest quarterly greenhouse gas emissions survey shows that Australia is heading in the wrong direction – and that needs calling out.
While overall wages grew in line with inflation in the June quarter for workers in most industries real wages are still going backwards.
Inflation is coming down fast so we should now shift our attention to making sure unemployment does not rise
When workers are united, and able to collectively bargain, they can win good outcomes
The RBA is currently targeting a 4.5% unemployment rate, and that is going to hurt young, low skilled and low paid workers,
As interest rates rise, the gains from negative gearing increase.
A slowing economy and households closing their wallets is bad news with a Reserve Bank determined to keep raising rates
Australia needs more housing, and we definitely need more public housing
You can’t sustain household spending while real wages continue to fall, and households are starting to let everyone know
Wages are growing the best they have for 11 years, but real wages are now back at the level they were 14 years ago
Rather than be a budget that will fuel inflation, the budget is actually closer to austerity than stimulation
Wages growth is rising slowly and inflation is falling faster than expected, and yet the RBA decided to hit the economy again with another rate rise.
Inflation is falling steadily but hitting low-income households the most.
The Stage 3 tax cuts were always bad, but with the removal of the low-middle income tax offset, they become a terrible political strategy as well
Millennials are not becoming more conservative as they age – and the rigged housing market is just one reason why
Perhaps as much as a third of the rate rises since April have yet to fully hit the economy
The whole point of public-sector wage caps is to keep all wages down
House prices are falling but housing unaffordability remains high
Superannuation is too important for retirement to be allowed to be a tax dodge scheme for the wealthy. It is time to review the scheme and stop the abuses
The Reserve Bank now forecasts real household incomes will take longer to recover than they did during the 1990s recession and is also projecting economic growth at historical lows. Australian consumers are right to feel worried about the future.
The signs are already evident that household consumption is falling despite most mortgage holders yet to feel the full effects of the rate rises. The Reserve Bank however believes more pain is needed.