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June 30, 2017

US Fed's policies, June 2017

John Maudlin reports from America in a long essay: ‘Right now we have a Fed that is arguably letting its own parochial political concerns seep into its policy decisions. By raising rates when inflation is nowhere near problematic, they risk tipping the economy into recession. We’re overdue for a recession anyway, and I get that they want to have room to cut rates if necessary. But that will be cold...

April 30, 2017

President Trump's first 100 days, 30 April.

Henry can recall no more divisive US politics. Around 40 % of voters seem warmly supporting President Trump, and a small number previous 'establishment' dwellers seem unable to recognise his legitimacy.  Compare the rally in Pennsylvania - a previously long-standing Democratic state - with anti-Trump demonstrations in Washington.

The new President is 'all over the place' according to m...

February 19, 2017

When robots take our jobs, 17 January

Adam Creighton is on loan from The Oz to the Wall Street Journal.  Today he writes about the long mooted subject of what happens when many current jobs are replaced by machines. This was written about at least from the time of the Luddites, and most engagingly by Keynes when he discussed the economic issues for his contemporaries' grandchildren

Creighton mentions make-work jobs in governme...

December 18, 2016

Dear Treasurer Morrison. Despite your brave efforts to convince people that this is a great time to be alive and they should spend up big to boost a struggling economy, the people are smarter that the average pollie or Treasury official.  Consumer confidence has taken a beating and a subdued Christmas spending season may help create a technical recession, supporting the income recession that has been in place for all of the Tu...

December 4, 2016

Well shiver me timbers, comrades, summer has come and the Turnbull government has had some wins. So far at least 'summer' in Melbourne is more like autumn elsewhere in the land girt by sea. Anyone with any knowledge of economics will shiver even during the summer heatwaves to come  when he or she thinks about the severe lack of progress in fixing Australia's budget deficit.

The AFR, a Fairfax organ, has hit the mark with yester...

November 27, 2016

Was Marx correct, 5 November

Australia's five PMs in a few years is a sign that there are intractable problems that fail to be understood by political elites. Brexit is one bit of evidence. The election of Mr Trump in the USA stunningly underpins the theory.

Another feature of the modern capitalist world is the significant part played by the unhappiness of the masses due to increasing inequality of rewards.  This was of cou...

October 28, 2016

The coming crisis - domestic, Banana Republic #2. 10 October

The Oz reports today: 'Australia’s foreign debt has hit “extreme” levels that match the worst in the world, according to a startling warning from ratings agency Standard & Poor’s that will intensify the dispute over budget repair after years of political deadlock on major savings.

'The global S&P executive who signs off on Australia’s ­credit rating has rung the alarm...

September 30, 2016

Superannuation Expose, 1 September

The wonderful expose by Judith Sloan in this week's Oz should make pollies and senior public officials hang their heads in shame.

The 'fairness' test that justifies incomes from Henry's self-managed and self-funded superannuation fund being taxed should be properly assessed against the myriad pollie and public servants' pensions, allowing for the fact that those privileged folk are not at risk...

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