Articles from Peter Martin
There’s one graph that sums up both the good and not-yet-as-good detailed by Treasurer Josh Frydenberg at Wednesday’s national accounts press conference.
It’s a graph of the level of Australia’s gross domestic product – how much is produced and earned each three months in Australia – adjusted for inflation.
Josh Frydenberg has the opportunity to become a transformational Australian treasurer. He has been bequeathed a set of circumstances that comes along rarely.
He has already shown himself able to shift the debate on important topics in order to achieve the previously unthinkable.
Most recently he did it with Google and Facebook, getting them to pay news providers for content using legislation that led the world in its breadth and force.
If I offered you money for something, an offer you didn’t have to accept, would you call it a grab?
What if I actually owned the thing I offered you money for, and the offer was more of a gentle inquiry?
There’s something odd about those television and internet advertisements telling us we are getting more super.
The money seems to come from nowhere.
“Pretty soon,” explains the woman getting onto an escalator, “the amount of super paid on top of our wages will go up”.
Reserve Bank governor Philip Lowe’s message to the nation today through the National Press Club is that he means it.
He isn’t intending to push up interest rates – he most probably isn’t intending to even think about pushing up interest rates – until 2024, at the earliest.
Suddenly, economic forecasters are optimistic.
Six months ago the forecasting team assembled by The Conversation was expecting Australia’s recession to continue into 2021, sending the economy backwards a further 4.6% throughout the year.