The veteran investor says that’s because even more debt has accumulated in the global economy since the financial crisis, especially in the US.
With Australian incomes falling over the past two years and stagnant over the past five, who has the money any more?
State subsidies to promote home ownership is not always a good thing – it hikes public debt, cuts labour mobility and often boosts prices not ownership levels
Source: A few big firms | The Monthly
Consumer confidence in the Australian housing market has collapsed to its lowest level in 27 years, with the proportion of Australians believing real estate was the wisest place to put savings falling to below 12 per cent, the lowest level since 1974.
Joe Hockey infamously labelled us all as “lifters or leaners”, he just mixed the labels up. The conservative government has decided it is the poor who will do all the heavy lifting when it comes to budget repair and paying for their obscene defence spending and tax cuts to the wealthy. First up they got…
Research suggests cannabis legalisation linked to rise in drinking rather than users substituting Budweiser for bud-smoking
Since 1980, the economy has continued to grow impressively, but most of the benefits have migrated to the top. Why?, asks Bill Moyers
The Treasury’s Debt Management Office this morning sold debt at a new record low interest rate, underlining the massive appetite from investors for British Government bonds in the wake of the Brexit vote and sparking fresh calls for the Chancellor to take advantage by ramping up its infrastructure investment. The DMO sold £850m of an index-linked Gilt (or bond) that matures in 2036 at a yield of minus 1.72 per cent.
By Arthur Plottier This week we have in the news the ‘The Household, Income and Labour Dynamics in Australia Survey‘ (the HILDA report) and it does not paint a healthy picture. Despite our recent natural resources boom we are going backwards. Some of the findings in the report are: Households headed by a person aged…
New report found the average rate of tax paid was 16.2 per cent – or less than the income tax rate paid by a working nurse in Australia.
Report finds poorer Americans fall prey to tax preparers who deliberately target low-income areas and jack up prices ahead of 15 April filing deadline
It’s clear George Osborne intends to make austerity permanent. Those at the top will benefit, but hard times beckon for everyone else
One of Australia’s most respected public policy think-tanks says ‘negative gearing’ does not benefit everyday Australians in the way its proponents suggest.
Scott Morrison says Australia relies more on income tax than all other OECD countries except Denmark. Is this correct? ABC Fact Check investigates.
Ever wondered how much is spent annually to feed the poor ‘lazy’ Americans? Three main programs needy families depend upon — Temporary Assistance for Needy Families ($17.3 billion), Food Stamps ($74 billion), and Earned Income Tax Credit ($67.2 billion) — cost $158.5 billion a year. …
A predicted global meltdown passed without event. But there are enough warning signs to suggest we are sleepwalking into another disaster
What really should be Australia’s ambitions for its military?
Turns out throwing white-collar criminals in jail doesn’t kill your economy.
“Few ideas have more profoundly poisoned the minds of more people,” argues the former secretary of labor
When you scrape below the surface it’s not hard to see that ‘culture’ is the wrong answer to almost every question.
Technically, Australia isn’t in recession; but data shows we are effectively in a situation of negative growth.
Is there a causal link between how a government treats refugees and how many jobs are created in the economy?
The latest figures on the health of the Australian economy as shown in the June 2015 quarter National Accounts continues to paint a gloomy picture. Meanwhile, the spin that Treasurer Joe Hockey and Finance Minister Mathias Cormann offer, is priceless. It seems the thrust of their argument is that it doesn’t matter how bad the…
Research reveals a huge proportion of Australia’s richest people amass their wealth via political connections rather than via innovative businesses – which is helping them at the expense of everyone else.
The Truth is very, very slowly becoming clearer and clearer about the China FTA. It’s now been revealed that there are a number of side letters that were exchanged between the countries.
In one, the Abbott Government has sold out the jobs of tradies to the Chinese. Under the agreement there will be NO requirement for Chinese workers who come into Australia to have the necessary trade qualifications or accreditation that Australian workers have. So much for “Tony’s Tradies”.
100,000 more people have joined the jobs queue since Tony Abbott was elected and Australia’s unemployment rate has now had a six in front of it for over a year.
Under Tony Abbott and Joe Hockey’s Liberals we have the most people unemployed since 1994, and their only plan is to bring back WorkChoices.