Author Archives: Jocelyn Pixley
The US Fed Chair Jerome Powell last week buried wage inflation targets. Always terrible, does this burial mean new hope?
The bag of Covid-19 policy responses bulges with inconsistencies. The first people to admit they knew the least about this virus strain were epidemiologists who knew the most. But how frustrating when politicians shift positions in pretence they know (anything).
As countries world-wide shut down, short-sellers scurry around like thieves in the night. Why are they dangerous and what could be done?
Australia’s tragedy has brought a scandal about hard issues: Morrison separated politics from government too publicly.
Was it surprising to hear AUSTRAC’s allegations that Westpac breached money-laundering laws 23 million times? When the LNP won government in May 2019, bankers cheered reinstalled Ministers, delighted that the Royal Commission’s February recommendations were unlikely to be fully implemented. … Continue reading
Central banks are rarely discussed until booms turn to busts. Like many others, politicians turn on central bankers in ignorant blame, particularly when central bank (CB) messages are unattractive. The LNP detests the Reserve Bank of Australia’s urging that it … Continue reading
Public benefits in restraining business-financiers (the modern incarnation of Robber Barons defined by US economist Thorstein Veblen) are rarely debated, despite corporate corruption and social injustices. ‘Politics of envy’ or ‘unfunded empathy’ spin, shouts down policies aiming to curb social-economic … Continue reading
Liberal UK Prime Minister Gladstone, 1868-94, grumbled that William III put the state in a position of ‘subservience’ to induce ‘monied men to be lenders’ in 1694. As Australia faces recession, the Government bows to every bank demand for low … Continue reading
When Morrison says, ‘Labor cannot manage money’, he must deny banks’ large-scale 2007-2011 crises – GFC – an outcome of Liberals’ mismanagement of money. Incoming Labor reversed looming depression in a brilliant world-first. The myth, john-menadue-the-myth-that-the-liberals-are-better-economic-managers/ P&I, relies on crucial cover–ups. Some are … Continue reading
The Coalition’s strategies for 2019’s election include reiterating Howard-Costello slogans. Australia’s 1996-2007 racist divisiveness is a factor while its economic policies copied decades of attacks (UK and USA) on social justice. But the sainted banks delivered the GFC just as … Continue reading
When Ken Henry (NAB Chair) tried to dismiss SC Rowena Orr’s questions about the NAB top management’s significant compliance breaches with “Well, we could have fired everybody, I suppose”, he was correct. Hayne did not call his bluff. Henry had … Continue reading
Times are dangerous for the ABC, at least to those who appreciate fair, independent journalism. My example is Emma Alberici’s report on corporate tax cuts, which was stating what is well-known across the OECD for years. In addition, taxes are … Continue reading
The Hayne Royal Commission has, so far, found not just “misconduct”, but a long list of dubious activities over previous money laundering and insider trading cases. Such tactics are common to the largest finance centres, Wall Street and the City … Continue reading