Australian economy

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Re: Australian economy

Postby HBS Guy » 15 Feb 2018, 17:50

The SMH editorial says that now is the time for Turnbull and Morrison to cut their losses, and, in doing so, reboot the whole discussion on tax reform. It explodes the use of the headline rate and explains how our effective tax rates are already competitive.

http://www.smh.com.au/comment/smh-editorial/time-for-turnbull-to-reboot-on-tax-20180214-h0w31q.html



Probably bump the effective rate UP a bit might be a good thing. And keep after the leaches who evade tax on billion dollar revenues!!!
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Re: Australian economy

Postby HBS Guy » 17 Feb 2018, 14:36

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Re: Australian economy

Postby HBS Guy » 21 Feb 2018, 18:45

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Re: Australian economy

Postby johnsmith » 21 Feb 2018, 19:36




interesting article .... lotta people gonna hurt if rates go up
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Re: Australian economy

Postby HBS Guy » 21 Feb 2018, 21:09

Wages flat, utilities increasing, something’s got to give.
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Re: Australian economy

Postby HBS Guy » 22 Feb 2018, 08:45

BCA and tax cuts:

https://www.theage.com.au/business/the-economy/australian-big-business-jumps-on-the-trump-tax-bandwagon-20180220-p4z0y6.html

BCA sounds like a collection of shysters and tax dodgers, not actual businesses.
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Re: Australian economy

Postby HBS Guy » 22 Feb 2018, 08:49

The new TPP.

Puny benefits + great risks from investor–state dispute settlements.

We know what is in the new, US-less TPP because Jacinda Ahern released the text.

http://www.smh.com.au/federal-politics/political-news/tpp-new-zealand-sheds-light-on-the-deal-australia-is-about-to-sign-20180221-p4z14b.html

I think we could do much better just running out the real NBN, sorting out tax and tax dodgers, encouraging real innovation, getting rid of a lot of so–called free trade deals that are very bad for us, etc.
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Re: Australian economy

Postby HBS Guy » 22 Feb 2018, 08:57

Working—but homeless.

Wages grow 2.1%, housing costs grow 4.2%. Something’s got to give!


https://www.theguardian.com/australia-news/2018/feb/22/cost-of-living-pushing-australian-workers-into-homelessness

What will the TPP do for this? Not a single fucking thing!
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Re: Australian economy

Postby HBS Guy » 02 Mar 2018, 12:39

Have to read this later, re wage stagnation, the Accord and John Useless Howard.


https://www.theguardian.com/australia-news/2018/mar/02/who-is-to-blame-for-australias-stalled-wages
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Re: Australian economy

Postby johnsmith » 02 Mar 2018, 14:09

even the business community disagrees with the proposed tax cuts as they stand

http://www.abc.net.au/news/2018-03-02/agree-to-disagree-corporate-tax-cut-business-council/9501890
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Re: Australian economy

Postby HBS Guy » 22 Mar 2018, 14:03

HBS Guy wrote:Wages flat, utilities increasing, something’s got to give.


Unemployment rate rises last reporting period and this reporting period. Bet GDP figures are less too.
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Re: Australian economy

Postby Vulcan » 22 Mar 2018, 23:09

Increase in people leaving Private Health.
As a former employee in Private Health ...it really was a racket!
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Re: Australian economy

Postby HBS Guy » 23 Mar 2018, 03:17

The Libs have given us: stagflation.
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Re: Australian economy

Postby johnsmith » 23 Mar 2018, 08:40

HBS Guy wrote:The Libs have given us: stagflation.



lucky for them the aussie dollar fell after they took office. If it was still at parity with the US we'd be well and truly screwed by now
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Re: Australian economy

Postby HBS Guy » 21 Apr 2018, 05:12

The Australian Bureau of Statistics released the latest – Labour Force, Australia, March 2018 – today which showed that the Australian labour market has weakened further in the first three months of 2018 and is decidely weaker when compared to 2017. Employment growth was virtually zero (4,900 net increase) in March 2018 and participation fell, suppressing the otherwise inevitable rise in unemployment, which would have accompanied the weak employment growth. Unemployment fell slightly but only because the participation rate fell. Had the participation rate been constant across the months, the unemployment rate would have been 5.7 per cent rather than the official rate for March 2017 of 5.5 per cent. Further, underemployment rose marginally as did the broad labour underutilisation rate, which stands at 14.3 per cent (nearly 1.9 million workers are either without work or do not have sufficient hours of work. The teenage labour market was slightly improved. Overall, my assessment is that the Australian labour market has weakened again in March and remains a considerable distance from full employment. There is a lot of slack remaining and defies the foolish calls in recent days from those demanding reductions in the fiscal deficit.

The summary ABS Labour Force (seasonally adjusted) estimates for March 2018 are:

Employment increased 4,900 (0.04 per cent) – Full-time employment decreased 19,900 and part-time employment increased 24,800.

Unemployment decreased 2,400 to 730,200.

The official unemployment rate was steady at 5.5 per cent.

The participation rate decreased by 0.1 points to 65.5 per cent, which is still below its previous peak (December 2010) of 65.8 per cent.

Aggregate monthly hours worked increased 4.5 million hours (0.26 per cent).

The estimates for the March 2018 show that underemployment rose by 11.3 thousand and was estimated to be 8.4 per cent of the labour force (up 0.1 points from February 2018). The total labour underutilisation rate (unemployment plus underemployment) was stable at 14.3 per cent. There were 1,136.6 thousand persons underemployed and a total of 1,891.9 thousand workers either unemployed or underemployed.


http://bilbo.economicoutlook.net/blog/?p=39145
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Re: Australian economy

Postby HBS Guy » 18 Oct 2018, 14:24

Unemployment rate drops to 5.0, lowest in many years, but drop is mainly due to less people looking for work.

https://www.abc.net.au/news/2018-10-18/unemployment-employment-figures-september-2018/10390256

Not much of a real result, 5000-odd jobs added.
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Re: Australian economy

Postby johnsmith » 18 Oct 2018, 14:39

HBS Guy wrote:Unemployment rate drops to 5.0, lowest in many years, but drop is mainly due to less people looking for work.

https://www.abc.net.au/news/2018-10-18/unemployment-employment-figures-september-2018/10390256

Not much of a real result, 5000-odd jobs added.



i'm unemployed ... I'm not on there. Neither is my wife.
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Re: Australian economy

Postby dissilymordentroge » 19 Oct 2018, 15:11

Well how have things changed since 2015? Given I’m only too aware post graduate degrees are handed out in how to lie with statistics, and if they can’t manage that to talk completely indecipherable M BA bullshit. How can we actually learn how the economy is functioning and what is it that’s actually being measured and more importantly , what’s not ?
First off I suggest we need to ask some serious questions about the accounting methods used by governments, both left right and in the middle. Instance ( without wanting to trigger and argument about gender roles etc) what is the real value of housework to the nation and what are the real savings to government having full time carers for the disabled and elderly paid at just over $110 per fortnight? What is the real cost to the nation of being stingy for the last several decades with infrastructure? The list could go on. Then we have that hoary old question, how do you balance the value of national happiness and security against raw GDP? Maybe that’s impossible until voters express their opinion at elections?
The Human Race is insane.
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Re: Australian economy

Postby dissilymordentroge » 22 Oct 2018, 08:20

HBS Guy wrote:Looks like the idiot RBA will cut rates AGAIN in May, despite knowing the Budget will be contractionary not stimulatory and knowing the cut will do stuff all to boost the economy:

http://www.smh.com.au/business/the-econ ... mwyeu.html

And savers get another kick in the teeth.

HM, That reads like HBS might stand for Harvard Business School?
As to budgests I’m skeptical they ever give a complete picture, just as I’m skeptical employment figures are often an exercise in how to lie with statistics.
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Re: Australian economy

Postby HBS Guy » 22 Oct 2018, 14:21

HBS = Home Brew Guy. I started ran the Jovial Monk Home Brew Shop in Duthy St, Unley for 8 years.

But call me Monk.
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Re: Australian economy

Postby dissilymordentroge » 22 Oct 2018, 14:47

HBS Guy wrote:HBS = Home Brew Guy. I started ran the Jovial Monk Home Brew Shop in Duthy St, Unley for 8 years.

But call me Monk.

There’s some fabulous small production apple cider made here in Tasmania but usually you have to go to the cellar door to get hold of any as most is exported and for some strange reason local bottle shops dont want to sell it. They stick with the big labels such as Mercury.
What’s really ineresting me of late are the world class Scotch and Vodkas coming out of Tassie. I wasn’t a keen Scotch drinker until I hit on this stuff mainly sticking with congnac if I really wanted to knock my head off. However, since tasting a few local drops I’m totally won over to Tasmanian Scotch. I’ve no idea why the stuff being produced here is so stunning but I’m told it’s scaring the hell out of producers in Scotand.
These people are making an absolute killing with Chinese and Japanese tourists buying up dozens at the cellar door, paying for shipment back home plus huge import duties.
https://hellyersroaddistillery.com.au/products/
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Re: Australian economy

Postby Aussie » 22 Oct 2018, 14:56

Get some McKay Whiskey produced at Shene Estate. Their gin also wins World Awards.
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Re: Australian economy

Postby HBS Guy » 22 Oct 2018, 15:04

You can keep your whiskey but don’t mind some gin.

What are some of the better cideries, real cider not Mercury etc?
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Re: Australian economy

Postby johnsmith » 22 Oct 2018, 21:57

dissilymordentroge wrote:I’m totally won over to Tasmanian Scotch.


Tassie distillerys are knocking of the Scotts and winning global awards
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