US President Donald Trump, for one, isn’t happy with the high prices US voters are paying to fill up their cars. Not only does he want to appear to be doing something to help them. He wants to ensure petrol prices come down before the US mid-term elections in November.
Trump has been busy this year. He slapped 25% taxes on imported steel and aluminium — even from allies — and cited national security as his rationale. Could Trump’s move end up working for the US and even Australia?
If the future sees smart machines doing much of the work we do today, which looks inevitable for both white and blue-collar workers, then the decidedly socialist concept of a universal basic income comes into play.
Modern medicine has gifted Australians — on average — with more than 4,000 extra days of life compared to what we could expect 50 years ago. The work underway in gene specific medicines would look more at home in the pages of a science fiction novel than a science journal.
With OPEC ministers meeting this Friday, 22 June, all eyes will be on Vienna to see how much more supply is likely to come online. By next week, we’ll know if the hedge funds were right to be optimistic on rising oil prices. But I wouldn’t invest alongside them.
Automated machinery and artificial intelligence (AI) customer service have hit us with the harsh reality that computers are out for your job. Society simply isn’t ready for technology to evolve so rapidly.
The Fair Work Commission has announced a pay rise for the two million Aussies on minimum wage. That might seem like a good thing. But the reality behind this decision is bleak.
Australia’s GDP growth has been in the spotlight recently, with the federal government proposing a budget heavily reliant on rosy growth predictions. But are our assumptions about economic growth reliable?
With both the government and the opposition having put forward their proposed budgets, Monday seemed the perfect time to ask some questions and get some answers. But those answers, ultimately, lead to a lot more questions.
Australia has lost its fuel refining industry, with many shutting down in 2003 and 2011. Australia is no longer able to refine fuel from crude oil. Currently, we depend on imports for most of our fuel needs.
OPECs 2017 output cuts have managed to successfully push oil prices higher. But the agreement only runs to the end of 2018. Already some members have said they might increase production before the end of the year. Like Russia.
With more news surfacing about the unethical behaviour from AMP Limited this week, we have to ask ourselves the question: Are we are doing enough to ensure we’re not being taken advantage of?
The latest figures show federal government debt will be ‘only’ $558 billion in 10 years. That was forecast to be $684 billion less than six months ago. Even if you had a close review of the budget, there’s one expenditure you probably missed.
The fears that oil prices would rocket if US President Donald Trump canned the Iran nuclear accord have proven unfounded. Oil prices did nudge up on the news, but only around 2.5%. That limited price rise indicates Trump’s move had been widely anticipated.
Australian Treasurer Scott Morrison is expected to announce a plan to reduce income taxes when the Federal budget is released today. But the treasurer warns that Australians shouldn’t count on ‘mammoth tax cuts’.
For all the noise generated over our children being bad at spelling, maths and generally falling behind internationally, we are reminded — every so often — about how our kids are changing the world.
The massive increase in US production caught the market flatfooted in late 2014. Oil prices fell off a cliff into 2016, when WTI traded below US$30 per barrel. And it looks like history might repeat.
It was back in February when former Prime Minister Tony Abbott prompted a national debate over immigration. And it seems Former Prime Minister John Howard is not only listening but supporting his successor.
Governments around the world are determined to do everything in their power to keep this house of cards standing. However, this extraordinary asset inflation and unparalleled income inequality won’t end well.
Enjoy the extra 0.5% of your money the government has decided not to take from you this year. Despite Scott Morrison’s optimistic outlook, the Medicare levy — plus all the new levies the government has yet to dream up — are likely to be back on the table soon enough.
Despite what his own ego might be telling him, Trump cannot dictate the global oil price with a few tweets. However, he does have a large number of levers he can pull to increase supply…
The federal government is pressing to get corporate tax cuts passed this week, in the final Parliamentary sitting before the May Budget. The government is arguing that cutting company tax from 30% to 25% by the 2026–27 financial year, would trigger jobs and wage growth.
The war on drugs just isn’t working. We’ve already seen this happen with the prohibition of alcohol in America from 1920–1933. And now we are seeing in the prohibition of marijuana.
The ATO has been given the powers generally available only to government lackeys in a despotic state. A state where the ordinary expectations of a citizen to be treated fairly having access to an impartial process have been totally discarded.
Whistle-blowers have made shocking accusations of revenue-raising tactics within the Australian Taxation Office (ATO). Small businesses and contract workers have been among the victims of the ATO’s alleged exploitative practices. Several concerns from business owners were raised about the extent of the ATO’s powers.
Here’s the most important takeaway. One you’re not going to read in the mainstream media: The poor, naïve customers are not without blame.
Saudi Arabia is pulling out of its plans to list their state-owned oil giant Aramco in the US in what would have been the world’s biggest initial public offering (IPO). Time will tell if the Saudis open their oil taps wider now that the IPO looks to be off the table.
The political climate means that defence spending is on the rise. North Korea is one trigger. As is the ongoing threat of terrorism. The boost to Australia’s defence capabilities may well be timely, possibly even well overdue.
An abundance of Asian shoppers are buying baby formula in large quantities, to sell on to China for profit. Masses of Asian shoppers often go through checkouts and later return to buy more quantities of the product.
If the mountainous levels of debt accumulated by Aussie home owners is anything to go by, that Ponzi scheme may be alive and well right here in the housing market.