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On average, high-income economies have run government deficits every year since at least 1990. This is what is normal. Government surpluses are abnormal, and require deficits somewhere else in the money system, as you know. Their red ink is our black ink.

Is the fight against tax havens starting to pay off? The BEA stats on US multinationals are out—and in 2022 haven profits dropped There is still a long way to go—more than 40% of foreign profits are still booked in havens!—but the trend break is notable Start of a new era?

Another day another warning of a gas shortage. Remember - Australia does NOT have a gas shortage. As Matt Saunders writes, Australia exports around 35 times more gas than any projected "shortage" #OffTheCharts australiainstitute.org.au/post/forget-ev…

A child at 10: Loses 4 baby teeth a year  Knows the complete date Can name the months of the year in order Can read and understand a paragraph of complex sentences Has developed skills in addition, subtraction Has some  skills in multiplying and division,  And, in Australia,

After all the scandals we've seen with consultants, rebuilding the capability of our public service has never been more important It's deeply concerning to see these reports of the Coalition's plans to slash some 36,000 APS jobs not to mention axing key measures to boost housing

Annual electricity inflation goes from 7.5% in June to minus 5.1% in July.

And worries that the Stage 3 cuts would set off inflation were dumb

There are different ways to think about an interview in a presidential race. One way is to think of it as an opportunity to inform voters of the stakes of the election & the kinds of things someone might do if elected. That's what *voters* want -- see any town hall event. OR ...

The @SMH has republished this deranged op ed from a right wing British commentator. The premise of which is entirely false, and isn’t backed up by reality.

AUGUST 2024 was more than 3°C above Australia's long-term average, and by far our hottest winter month on record. Stats, graphs, explanation & more in my story weatherzone.com.au/news/australia…

The RBA forecast in early August that household consumption would grow 1.1% - result was 0.5%. Household savings forecast 1.2%. Was 0.6%. Real household disposable income forecast to grow 1.1%. It fell 0.3%. Terms of trade forecast to fall 0.9%. Result minus 3.8%

"To see the media now talking about the housing crisis is to be reminded of the toxic role played by the media in attacking Shorten’s sensible proposal to limit negative gearing to new residential construction." Sharp piece from Bernard Keane crikey.com.au/2024/09/05/bil…

"Are we mugs? Absolute mugs?" Gary Adshead 6PR Perth can't believe the gas industry are calling to import more gas into Australia when 80% of our gas is exported overseas, largely royalty-free. Roderick Campbell dismantles the gas shortage myth #auspol #climate

The RBA and all those economist who have have done everything they can to ignore price gouging need a huge wake up call. People are right to be angry at the RBA for smashing them with interest rate rises. ⁦Ross Gittins⁩ smh.com.au/business/the-e…

The very rich are different to you and I… They make their money through capital gains that can get a 50% tax discount. theguardian.com/business/grogo…

There was plenty of racism on the internet during Trump’s first and second campaigns, but on Elon Musk’s X, “the racism has now become so relentless and self-confident that it amounts to a genuine qualitative difference,” Thomas Chatterton Williams writes. theatlantic.com/ideas/archive/…

'The UK in 2024 demonstrates to the world what living with high inequality means in a once affluent country.' From declining heights to more children going hungry, Prof Danny Dorling News explains how kids are becoming poorer in the UK – more so than in other countries ➡️

The scare campaign on -ve gearing and CGT has kicked off already. Vested interests and anonymous tweets wailing about how disastrous this would be for “ ordinary mum and dad investors”. The reality is that the wealthy are making a killing at the expense of battlers.

Greg explains the problem with negative gearing in 60 seconds: "It is a tax minimisation scheme disguised as a housing policy, most of the benefits go to the wealthiest and it massively distorts housing prices." Greg Jericho on The Project #auspol

Reduce the Capital Gains Discount from 50%?!! Why do that?? I mean when John Howard introduced it in 1999 nothing chang... oh wait, I am being handed a graph