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Australia Needs To Ensure Its Sovereignty

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In: economics, featured, Government, latest post, politics, power

The European Union and Canada are both reducing their reliance on US financial systems like the Visa and Mastercard credit card sector. This has controlled upward of 90% of their digital payment arrangements and the realisation has sunk in just how vulnerable they could be to having the plug pulled on this. Obviously these moves are in reaction to President Donald Trump and his regime’s threatening stance on everything from tariffs to NATO. Australia is in the same boat on this score and is it time to take control of our own digital money sector. In Brazil they have PIX which is a feeless digital payment system not dependent upon American multinationals. Australia needs to ensure its sovereignty around its financial sector and stop being so dependent upon American corporations.Continue Reading

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Break Up These Big Companies & Bust Their Monopolies

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In: corruption, democracy, economics, featured, Government, latest post, politics, power

We need to break up these big companies and bust their monopolies and oligopolies. Capitalism only works effectively for all when there is real competition in the marketplaces. Right now, this doesn’t exist in Australia and in most countries around the globe. There are too many sectors where only 2 or 3 corporations control markets. This prevents consumers having buying power and employees having any wage bargaining power. The chips are all in the corner of the bosses and the shareholders. Think about Coles and Woolworths dominating the supermarket and the liquor sectors. Think about the 4 big banks and the 4 big accountancy consulting firms. The insurance business is, likewise, dominated by a small number of giant companies. The telco business is Telstra, Optus and not much else. Big Tech is even worse, with most of them holding monopolies. Microsoft, Google, Amazon, Apple, Meta and their ilk control their markets monopolistically. Consumers are screwed when multinationals have such domination over markets and sectors. Capitalism does not work when competition does not exist.Continue Reading

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Albanese Backs Gas Industry Over Ordinary Australians

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In: corruption, democracy, economics, featured, Government, latest post, politics, power

Labor is in the pocket of the Gas Giants, obviously, why else would they rather kick off 160, 000 disabled Australians from the NDIS than properly tax the gas industry to improve the budget bottom line. The facts are that the LNG export sector is worth tens of billions of dollars annually but the majority of the companies involved have not paid corporate tax for years and years. Most of the gas is sold royalty free and the PRRT fails to derive tax from LNG sales, according to the current rules in place. The whole thing is a scam. Why do our governments  support this ripping off of the Australian people in favour of foreign multinational companies? It is a combination of politics over good policy, revolving door corruption and stupidity. Albanese backs gas industry over ordinary Australians.Continue Reading

Why Has It Taken So Long For The RBA To Act On Digital Surcharges?

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In: economics, featured, Government, latest post, power

Many would welcome the announcement that the RBA is going to remove surcharges on debit and credit cards in Australia. I would ask why has it taken so long for the RBA to act on digital surcharges? The number $1.8 billion in imposts from these surcharges annually has been revealed by the research. These fees are the largely hidden hands reaching in to take unwarranted funds from every transaction utilising these digital tools. Is it any wonder that banks make billions and the rest of us are doing it tough in our economy? Those with the inside running reap rewards for doing bugger all, whilst most of us struggle to make ends meet these days.Continue Reading

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American Lies Ruining Lives

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In: corruption, democracy, economics, featured, Government, latest post, media, politics, power

We live in a time of technological wonders. Technology, however, is not something just of itself, rather it comes loaded with revenue making deals for the vehicles that promote it. Think about the great choice of digital entertainment now available through all these streaming services. In the old days, we only had free to air TV offering limited content via broadcasting networks. Televised ads paid for these networks and programmes. Cable TV changed that and consumers paid a subscription fee and watched content ad free. Now, we get to pay those subscription fees and watch ads as well – how great is that! This is the progress running through Big Tech operations these days. The bean counters and CEOs are demanding ever greater ROIs to boost the share price. We were all promised better futures from these technological advances but instead we are saddled with higher fees and charges making our lives unaffordable. In reality, we have less now and are asked to pay more. American lies ruining lives, as ruthless business models exploit the citizenry.Continue Reading

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Trump Illegally Collected Some $170 Billion In Tariffs

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In: democracy, economics, featured, Government, latest post, politics, power

The US Supreme Court has struck down the Trump IEEMA tariffs on the grounds of unconstitutionality. SCOTUS has ruled that only Congress has the authority to set these types of tariffs. President Trump illegally collected some $170 billion in tariffs over the period in question. This money will have to be repaid and that creates a whole host of new challenges. This dysfunctional government continues to go from bad to worse. In reality, tariffs act as a consumption tax, as prices rise to cover the added impost of the tariff. The American people have been taxed by the Trump regime via these illegal and unconstitutional tariffs. My guess is that ordinary folk will not see a dime from this crooked administration.Continue Reading

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America Was Slow To Take Action Around Climate Change

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In: corruption, crime, democracy, economics, featured, Government, latest post, politics, power

The Trump regime is rolling back regulation designed to protect public health and limit the warming of the planetary atmosphere. America was slow to take action around climate change in the first place and this reversal is a dangerous and irresponsible action. This backward thinking by Donald Trump is further evidence of his unsuitability for leadership in the 21C. Scientific consensus regarding climate change is unanimous and has been for decades. This wilful disregard for the reality is a crime against humanity. To do this in a bid to prolong a US car industry which has been outmanoeuvred by China tells the world a lot about America.Continue Reading

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The RBA Funded Right Wing Think Tanks For Decades

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In: economics, featured, Government, latest post, media, politics, power

We hear a lot about the independence of our central bank, but not so much of their political bias. The RBA funded right wing think tanks for decades. These are the intellectual influencers dedicated to promulgating neoliberalism and anti-unionism downunder. If you want to know why the gap between rich and poor has widened so immensely in Australia look no further than  these institutions and their influence upon the Aussie economy over the last 30 years.Continue Reading

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A World Chock Full Of Corporate Concentration

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In: economics, featured, Government, latest post, politics, power, social media

For many decades, America has been the cultural Capitol of the world. The super power led the way via popular culture – movies, music and celebrities pumped out an influential message across the globe. Corporations quickly cashed in and expanded the merchandising opportunities. Now, we live in a world chock full of corporate concentration. Just 5 companies control more than 90% of the major media platforms in the United States. That means that a few individuals are holding the reins of power when it comes to what we watch on screens. Most folk spend more than 10 hours per day watching screens.Continue Reading

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Is It OK For Private Individuals To Accumulate Billions?

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In: corruption, crime, democracy, economics, featured, Government, latest post, morality, politics, power

The rise of the billionaire class presents our societies with new challenging questions. Is it OK for private individuals to accumulate billions? Everyday people may think to themselves, I want to be able to accrue as much wealth as I can through my life, unhindered by governments. Unfortunately, the unfetteredContinue Reading