Economic growth
Are Obama’s policies burying the US economy?
Gerard Jackson Monday 28 March 2011
When Obama ran for president I warned that the man is a dogmatic leftist and Americans — those with any sense, that is — would rue the day he sat in the Oval Office. Since then I, along with many others, also pointed out that if unchecked his policies would result in economic stagnation and inflation. Well, this now seems to be the case. Read the rest of this entry »
A carbon tax will devastate Australian manufacturing
Gerard Jackson Monday 28 March 2011
Mark Dreyfus, Federal Labor Member for Isaacs, is another lying Labor Politician who cannot get his story straight. A recent article of his (Shades of Goebbels in ‘truth campaign’, The Age, March 11, 2011) was riddled with so many lies and distortions in defence of the Government’s destructive carbon tax that it would take a very long article to refute them all. I’ll therefore focus on the one lie the refutation of which explains why the carbon tax would savage the standard of living. Read the rest of this entry »
Will Japan’s disaster deepen the US recession?
Gerard Jackson Monday 28 March 2011
Japan’s tragedy has led some economic commentators to ponder the possibility that she might try to fund a recovery by selling masses of US treasuries which would raise interest rates and therefore deepen the depression. The thinking behind this view is based on the assumption that in buying huge amounts of treasuries Japan — and China — helped drive down interest rates by raising bond prices. Read the rest of this entry »
American jobs, factories and investment: the picture is grim
Gerard Jackson Monday 21 March 2011
The Washington Post recently published a story revealing that if the hidden jobless were included in the unemployment rate it would jump to 10.5 per cent. (Hidden workforce challenges domestic economic recovery) This is a damning indictment of Obama’s economic policies and Bernanke’s monetary mismanagement. Even more damning is the fact that Obama appears completely unfazed by the situation. Read the rest of this entry »
Garnaut and Gillard’s carbon tax plan is an impending disaster
Gerard Jackson Monday 21 March 2011
Professor Ross Garnaut’s call to cut income taxes by $5.75 billion for low and middle income earners is an indirect admission of the ghastly costs of Julia Gillard’s destructive carbon tax. It is also an admission of Garnaut’s commitment to the tax that should raise serious questions about his economic competence. Read the rest of this entry »
Green economic policies would devastate living standards
Gerard Jackson Monday 21 March 2011
The theory of a steady state economy (stationary economy) is not only central to green thinking, something that Senator Bob Brown admitted, it is in fact the green fanatics’ ultimate goal. It would also be a totalitarian nightmare. I think it best to begin with description of a steady state economy followed by the greens’ main criticisms of economic growth and ending with an explanation of why their green utopia would be a vicious tyranny. Read the rest of this entry »
Why Gillard and Combet’s carbon tax will be a disaster
Gerard Jackson Monday 14 March 2011
A carbon tax is an insidious and destructive tax the aim of which is to slash the standard of living. Those who sincerely believe otherwise have been gravely misled. Fortunately the mass of Australians smell a rat. Irrespective of what greens and Labor politicians assert, you do not raise the standard of living by reducing real incomes, which is exactly what a carbon tax is supposed to do. Read the rest of this entry »
We will pay a heavy price for Julia Gillard’s technology fantasy
Gerard Jackson 14 March 2011
Listening to Julia Gillard and Greg Combet talk promote a carbon tax while lecturing us on the nature of technical progress reveals just how much Australian have to fear from the Labour Government and their green collaborators. Gillard is not only delusional she is — along with Combet — an arrogant ignoramus. Only someone totally ignorant of economic history and the history technology could utter their drivel. Read the rest of this entry »
The failure of Roosevelt’s New Deal proves why Obamanomics cannot work
Gerard Jackson Monday 8 November 2010
Americans are still regaled with tales that Obama’s spending binge and massive deficits are vital to an economic recovery. As evidence many of his supporters are citing Roosevelt’s New Deal as proof that deficits work. In fact, the New Deal was an economic disaster that kept the US in depression until WW II restored full employment.
Bernanke’s snake oil and Obama’s leftism will be the undoing of America
Gerard Jackson Monday 1 November 2010
What is truly remarkableis that any Democrats at all will survive the mid-term elections given that there probably has never been a more incompetent and dogmatic administration than Obama’s White House carnival. What passes for economic policy is a complete shambles, and Bernanke’s crude Keynesianism is only aggravating the country’s pain.
Deflation is not the enemy — bad economics is
Gerard Jackson Monday 1 November 2010
According to Alan Blinder “the present danger is not inflation but deflation”. His pal Bernanke has driven the Fed’s funds rate down to zero while giving the US economy an unprecedented increase in its monetary base. Not satisfied with that he is now apparently preparing an astonishing $2 trillion monetary expansion — and Blinder worries about deflation!
Deficits, taxes and the Democrats’ hypocrisy
Gerard Jackson Monday 18 October 2010
Raising taxes to eliminate the Obama’s deficit would be thoroughly destructive. But when it comes to taxes the Americans have been there before, along with everyone else. A look at the 2004 election tells us that the Democrats have learnt nothing from history, nor do they want to.
Posted in deficits, Democratic Party, Democrats, Economic growth, Gerard Jackson, Investment, Obama, taxes, US economy
Will ‘technological unemployment’ be Obama and the Democrats latest defense?
Gerard Jackson Monday 11 October 2010
The news is out: things ain’t getting better, which means America’s phony media will have to start digging up more excuses for the Democrats’ failed economic policies. Alana Semuels, Harvard graduate and a ‘reporter” for the Los Angeles Times has come up with a real old chestnut: technological unemployment. (She gets an A for effort and an F minus for lack of imagination.)
Posted in Economic growth, Gerard Jackson, Investment, Recession, Unemployment, US economy, US unemployment
The Reserve Bank puts a hold on rates as manufacturing declines
Gerard Jackson Monday 11 October 2010
While a number of commentators thought it likely that the mining boom would force Glenn Stevens, governor of the Reserve Bank of Australian, to raise interest rates I took the opposite view. So far I have been proved right. I reasoned that one would have to be an idiot to focus entirely on the mining boom at the expense of other factors. And Glenn Stevens is no idiot, even though his economic reasoning is deeply flawed.
Greens v. the car and people’s wants
Gerard Jackson Monday 4 October 2010
Now that the fanatical green Senator Senator Bob Brown is in a position to influence government decision-making perhaps we should take another look at the greens’ hatred of the humble car and ask ourselves why this boon causes social engineers, would-planners and environmentalist fanatics such anguish? After all, the car has been a great liberator for the masses, giving them the kind of freedom that was once the exclusive preserve of the wealthier classes.
Is the Reserve Bank Governor Glenn Stevens about to sink the Australian economy?
Gerard Jackson 27 Sept. – 3 Oct. 2010
One could not be blamed for concluding that Glenn Stevens is an excellent reason why the Reserve Bank of Australia should be abolished. Like all the bank’s bureaucrats (the Australian Treasury is every bit as bad) he has no genuine grasp of monetary theory and is utterly ignorant of the vital importance of capital theory. To be fair, Australia’s economic commentariat are not any better. And that includes the denizens of our so-called think tanks, particularly those who think insults and smart-aleck comments are preferable to a genuine economic debate.
Australia’s GDP figures hiding a dangerous trend
Gerard Jackson 27 Sept. – 3 Oct. 2010
For sometime I have been warning that the Australian economy is far from healthy. Now the Bureau of Statistics reported early this month that the economy expanded by 1.2 per cent in the June quarter with household spending jumping by 1.6 per cent and personal saving falling from 3.4 per cent to 1.5 per cent. Naturally, this led members of the economic commentariat to announce a strengthening in consumer confidence which in turn will encourage further growth.
Posted in Australia, Australian economy, Australian manufacturing, Economic growth, Housing, Investment, RBA
Corporate Quislings cave to greens on a carbon tax while the right wave feather dusters
Gerard Jackson 27 Sept. – 3 Oct. 2010
Despite outlandish propaganda by socialists entrepreneurs succeed in a free market by not only producing better and cheaper goods but lower-priced higher quality goods as well as producing entirely new goods. Those entrepreneurs who fail the consumer test fall by the wayside while those who succeed in satisfying consumer wants go on to even greater success. But when government intervention expands genuine entrepreneurs are squeezed out in favour of predatory hustlers whose skills are not found in producing for the market place but in lobbying politicians for privileges that result in the exploitation of the public.