July 2024
Australian workers’ living standards have been destroyed – and there is little good news ahead
Over the next few weeks, the Reserve Bank will ponder just how strong the economy is.
June 2024
Wages are clearly not driving inflation as new data shows wage growth is falling
With wage growth already falling, further interest rate rises would only serve to punish workers who are already suffering.
A nuclear nothingburger
The faux-debate over nuclear energy is a distraction from the main game – reducing our emissions to address the climate crisis, says Greg Jericho.
As the Coalition goes nuclear, Labor is free to ensure fossil fuels are burned with abandon and little scrutiny
The sham of Australia’s climate change policy has been made clear in the past two weeks.
The narrow path
At a time of major uncertainty in the economy, Reserve Bank Governor Michele Bullock’s honesty is refreshing, says Greg Jericho.
Households are hurting. Savings are weak. The future’s uncertain. Is a rate cut near?
The Reserve Bank’s decision to keep rates steady reinforced that the economy at this moment remains one with both good and bad signs, and the RBA governor, Michele Bullock, is refreshingly upfront about the difficulties.
“Sticky inflation” is not Australian workers fault and higher interest rates and lower wages won’t solve it
Australia’s inflation is rising and falling in line with the experience in Canada and the USA despite the RBA not raising rates by as much as did the central banks in those two countries.
Pick your poison
The government is trying to strike a delicate balance in the economy, getting inflation down without sending the country into recession, says Greg Jericho.
Obsessing over the inflation rate misses one key point: the economy is more than just how fast prices are rising
Over the past few weeks some economists and commentators have become rather obsessed and unhinged about Australia’s inflation rate.
“Shocking” near-zero growth a sign that rates are hurting the economy – Jericho
High interest rates have dramatically slowed the economy, pushing many households to their limits, says Greg Jericho.
As wages struggle to keep pace with inflation the numbers of secondary jobs rise
More than 1.1m jobs are now being done by someone who has another job
Why our GDP is going nowhere
Near-zero economic growth is a good sign of how bad things are, says Greg Jericho.
Australia is on the brink of recession. So why does the RBA think we are spending too much?
The latest GDP figures reveal that the RBA has got its wish of an economy growing so slowly that it teeters on the edge of a recession.
No need for panic over ‘sticky’ inflation: Jericho
Inflation has stopped falling, but there’s no need for a further rate hike, says Greg Jericho.
May 2024
Walking the inflation tightrope
Inflation isn’t falling as fast as most economists want, but a rate rise now would do more harm than good, says Greg Jericho.
‘Sticky’ inflation is not falling – but it’s not rising, either. Why should that mean another RBA rate hike?
The latest inflation figures released on Wednesday showed that inflation is “sticky” and is no longer falling at the pace it was earlier this year.
Poverty is a policy choice
According to the Productivity Commission, wealth inequality declined during the COVID years due to boosted government support payments. And when those payments finished, predictably inequality went back up. The overwhelming majority of gains from economic growth since the GFC have gone to the wealthiest people. On this episode, Greg Jericho discusses inequality, poverty, and government
Raising jobseeker is not ‘fiscally sustainable’? Sorry, but that is flat out wrong
On Monday the Productivity Commission released its snapshot of inequality report.
The budget and why your wages are lagging 14 years behind
The pandemic and runaway inflation reversed more than a decade of progress on living standards in just two years – and it’s going to be a long wait for them to inch back, says Greg Jericho.
Australians have lost 14 years of progress on living standards. A wages breakout? Please. If only
Remember all that talk about wage-price spirals? About wages driving inflation? All that worry about a wages breakout causing interest rates to rise? Ahh yes, good times.
No, the budget is not inflationary
For a budget to be inflationary there needs to be actual evidence of surging demand. In this budget we have the opposite
.Australia budget 2024: the six graphs you need to see
A bigger surplus this year and a bit bigger deficit next year! Does it matter?
Calls for massive rate hikes and recession are cavalier: Jericho
Inflation will remain higher for longer, but a recession is not the solution, says Greg Jericho.
“Sticky” inflation does not mean more rate rises are needed
The majority of items driving inflation now are not responsive to further rate rises
.We. Do. Not. Need. A. Recession.
Calling for a ‘short recession’ as an economist is like calling for a ‘small war’ knowing you’ll never be on the frontlines, says Greg Jericho.
Those calling for higher interest rates in Australia should be careful of what they wish for
It seems that some people really want a recession.
Increasing JobSeeker is possible, it’s just a question of priorities
The government has the power to make significant and long-awaited improvements to the JobSeeker scheme in this federal budget, but it has to make it a priority, says Greg Jericho.
JobSeeker drags people into poverty, but the government could fix this today
Budgets are about choices – and successive governments have chosen to punish jobseekers, says Greg Jericho.
Poverty is a policy choice – it is time for the government to choose better
If the government decided to make raising Jobseeker a priority in the Budget it would not talk about not being able to afford it, writes Greg Jericho.
.April 2024
The government shouldn’t boast about Australia’s latest CPI figures, but it shouldn’t panic either
Despite what the fearmongers would have you believe, the latest inflation figures showed that inflation remains well under control.
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