I realise now what the disconnection was last night between #ABC730 host Sarah Ferguson and guest “nuclear” Ted O’Brien.

Sure it was the trench warfare of “I’m not going to announce our policy on your show.” A continuation of the Liberal Party avoidance of testable policy.

But it was also a refusal to acknowledge a factual change of circumstances.

Ferguson posed a question about a changed timescale - 3 years to the next election and a coal power phase out. Wouldn’t changed circumstances require a change of plan?

A simple “yes” would’ve worked. Or “yes, when the situation changes one must change one’s plan.” But O’Brien refused to engage and repeatedly used the excuse of the party needing to consider all their policies. He doggedly answered a question she didn’t ask.

By his own admission they have a lot of listening and learning to do - but he doesn’t seem to have started.

#auspol #nuclearTed #ausEcon

@liamvhogan #Canberra was pretty sparse and to me felt reasonably egalitarian in the 1970s/1980s. The cost and availability of housing now is a huge problem. Isn’t it nationwide - in fact international? #ausecon

BREAKING: Clancy confronting@JEChalmers post Cyclone budget speech in Brisbane: "Young people of this nation are going to suffer for the rest of their lives. When is labor going to stop funding and approving new coal and gas?" @australianlabor.bsky.social @albomp.bsky.social #auspol #ausecon

New survey reveals financial struggles for many Australians: 1 in 5 have less than $100 in savings, while 10.3% have no savings but are debt-free. 15.8% are in debt or seeing it grow, and 26.5% say their savings are declining or they’re saving less than usual. Only 4.2% saved more in the past year, with 16.6% managing to save consistently. #FinancialWellness #SavingsStruggles #ausecon #auseconomy #auspol

https://www.9news.com.au/national/nearly-one-in-five-australians-less-than-100-dollars-in-savings-research-reveals/36228757-5d7d-481c-b05e-5b533040b357

@Power @jhaue What a poor article. Much assertion, generalisation, almost no numbers and definitely no footnotes! And NO ANALYSIS. It looks to me like #ABCNewsAU was fed material by AIG’s Tennant Reed (he of the nice photo) and ABC then sought “balance” from ACF (and not CSIRO, ANSTO, AEMO). #ausecon #auspol

Let's Tax Carbon: And Other Ideas for a Better Australia
by Ross Garnaut (2024)

I got a lot out of Garnaut’s ideas and arguments. Australia as a future energy superpower is a compelling and convincing idea.

The book is a collection of talks and the first 2 or 3 were hard to read as a non-economist but well worth persisting with. This book is in demand at #LibrariesACT. #auspol #ausecon

An edited extract at Garnaut’s Superpower Institute: https://www.superpowerinstitute.com.au/news/let-s-tax-carbon-why-the-time-is-right-for-a-second-shot-at-carbon-pricing

How Australia’s economy was destroyed by stealth #auspol #ausecon

https://www.macrobusiness.com.au/2024/12/how-australias-economy-was-destroyed-by-stealth/

#ABC730 #auspol #ausecon Question for Ted O’Brien: how long will the contracts run for private security companies to guard nuclear waste?

#ff @katie_hill2 who just helped me understand some significant #auspol/#ausecon nuance. Thanks Katie!!

“The Coalition has committed to allowing withdrawals of $50,000 from super” by first home buyers.

This is in #ABCNewsAU this morning reporting on a Q+A poll. It’s accompanied by zero analysis. (Saving it for Alan Kohler tomorrow on #QAndA I guess, which prioritises eyeballs?)

So, first home buyers will have $50,000 more to spend on a house, further pushing up house prices.

#ausecon #auspol

More people are seeking help as Australia's economy slows down, #RBA governor acknowledges "Some may ultimately make the difficult decision to sell their homes"
#ausecon #auspol #LuckyCountry #BetterNotBigger #auseconomy
https://www.abc.net.au/news/2024-09-05/rba-michele-bullock-more-australians-seeking-help-cost-of-living/104313588

#CommonwealthBank CEO Matt Comyn says Australians should be taxed more heavily on #wealth rather than income.

Comyn today backed a "critical" tax reform that would increase the amount of tax charged on an individual's wealth in an effort to drive prosperity.

#taxreform #australianeconomy #wealthtax #taxtherich #ausecon

https://www.9news.com.au/national/commonwealth-bank-boss-matt-comyn-calls-for-wealth-not-income-to-be-taxed-more-inquiry/79633739-5158-42bd-a316-a7be152cd4d6

Canada and Australia rolled the dice on housing—and lost.

IFM Investors’ Chief Economist shared this chart highlighting the stark divergence in household debt between Australia, Canada, and the United States. It’s a telling comparison that speaks volumes about economic strategy. #housing #ausecon #auseconomy

https://www.macrobusiness.com.au/2024/08/canada-and-australia-bet-on-housing-and-lost/

Tsunami of financial distress: a sad indictment of society. Banks' lenient lending during record-low interest rates has led to today's #mortgagecrisis. They knew it was unsustainable once rates rose. #FinancialCrisis #MortgageCrisis #BankingReform #ausecon #auseconomy #auspol #bankingroyalcommission

https://www.smh.com.au/national/nsw/tsunami-of-financial-distress-a-sad-indictment-of-society-20240708-p5jruw.html

There are claims that international education is a $48 billion export industry funding public programs like the NDIS and Medicare. In reality, it's a people-importing migration industry that generates far less export income. Without generous work rights and pathways to permanent residency, the industry would collapse. The Australian Bureau of Statistics inflates the $48 billion figure by including all student spending, much of which is earned within Australia.
#ausecon #auseconomy #auspol

https://www.macrobusiness.com.au/2024/06/if-international-students-are-a-business-why-arent-universities-taxed/

Why Living in #Australia is Becoming Impossible

Australia boasts the 13th largest economy in the world, beautiful beaches, access to world-class education, universal #healthcare, and much more. However, skyrocketing #housing prices and rental rates have made Australia one of the most unaffordable places to live. What are the key causes of this affordability crisis? Factors include high immigration, bureaucratic red tape, tax incentives, declining investment, and more.

By examining these issues, we can uncover the real reasons behind Australia's housing market problems and suggest potential solutions.
#auspol #ausecon #auseconomy #housingcrisis #negativegearing

https://www.youtube.com/watch?v=_TUVXfM1nqo

A farmer from New South Wales recently visited Japan and discovered that Australian #meat was being sold in Tokyo for less than it costs in major Australian supermarkets. Analysts argue that direct comparisons can be "misleading" without accounting for factors such as global import competition, differences in meat cuts, and exchange rate fluctuations. Although #Coles and #Woolworths have denied allegations of price gouging, the #ACCC is set to release an interim report on its inquiry into supermarkets by August.
#ausecon #auseconomy #auspol
https://www.abc.net.au/news/2024-05-28/australian-beef-cheaper-tokyo-supermarket-than-coles-woolworths/103897144

“we've got a once-in-a-lifetime opportunity for Australia to create more well-paid, secure jobs.”

If “we build our own batteries” they’ll be assembled by robots, right?

Batchries or BadderRees. #auspol #ausecon

The global #economy is fragmenting, and a new era of protectionism has dawned. Dreams by free marketeers of a frictionless world in which goods and services moved seamlessly from country to country are dead. #ausecon #auspol

https://www.theguardian.com/business/article/2024/may/19/america-approach-china-rapid-growth-lessons-for-us-all

Rising rent? Mega mortgage? Cozzielivs? 'Hardship' help hard to get, as banks fail to help those who need it.

A recent #ASIC report reveals that lenders' hardship processes are so challenging that many struggling customers give up. Mortgage hardship notices surged by 54% in the last three months of 2023 compared to the same period in 2022.

ASIC criticises banks for not complying with legal obligations to assist customers, as rising interest rates, soaring rents, and living costs push more borrowers into financial trouble.

ASIC plans further legal action against non-compliant lenders. #FinancialHardship #ASIC #BankingReform #ausecon #auseconomy #banks
https://www.abc.net.au/news/2024-05-20/hardship-help-hard-to-get-as-banks-fail-to-help-those-in-need/103860130