Letter to The Age October 10th, 2017 How ironic that boss Ian Narev is concerned that global wage growth has been "relatively weak" ('CBA boss says sorry over ATM scandal', The Age, 7/10). Adam Smith noted in Wealth of Nations that privatised land rent adds one-third...
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Boom-bust and the Australian banks
Australia experienced an increasingly gigantic bubble in land prices during the 1880s and the beginning of the 1890s, and the city of Melbourne became bubble-central. Michael Cannon provides an excellent account of the period in The Land Boomers. Henry George's...
The bank cartel has a new enemy
The federal Treasurer Scott Morrison used parliament yesterday to fire an extraordinary broadside at Australia’s banking cartel. Conservative governments rarely indulge in the public thrashing of such major supporters of the status quo. Morrison and the Turnbull...
Challenging the banks
The Bernie Sanders-Hillary Clinton contest in the debates for Democratic Party presidential nominee is paring back to whether Main Street should challenge the Big End of Town. Sanders has questioned Clinton's judgment at least, in accepting $225,000 to speak...
Dear Australia, the world is watching, waiting for our bubble to burst
photo credit: robertivanc The great property speculation game is over in America and Europe. The music has stopped. Forty years of steadily increasing pressure has been released. Houses are worth a fraction of what people paid in better times, while the giant...