Posts by artsrc@aus.social
 (DIR) Post #ATItsAkz5zjGwgXz96 by artsrc@aus.social
       2023-03-05T11:24:30Z
       
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       @johnquiggin My recollection is that the market was given a veto over democracy, and it's irrational hissy fit led to the abandoning of the policy, and the removal of it's authors.I don't think that is a failure of the policy.  I think it is a failure to implement the policy.What would I read to disabuse me of this misconception?
       
 (DIR) Post #ATLsqyLIPdiKnsTWHA by artsrc@aus.social
       2023-03-06T21:57:12Z
       
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       @johnquiggin For proposals more popular in a majority of smaller states, a majority of states can be a lower bar, than an overall majority.Tasmania and Western Australia are much stronger supporters of the voice than the nation overall:https://www.roymorgan.com/findings/53-of-australians-would-vote-yes-to-establish-an-aboriginal-and-torres-strait-islander-voice-to-parliamentThe easiest path to victory is probably to add South Australia and Victoria to Tasmania and Western Australia.I don't know how much recent data there is on referendums.  The internet age is newer than the most recent referendum.
       
 (DIR) Post #ATPn9CWObz6OtmodFo by artsrc@aus.social
       2023-03-08T19:12:04Z
       
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       @johnquiggin I agree completely.And feel that same logic should apply elsewhere.Required home loans principal payments should be real.  So required principal payments should be negative (nominal), removing the pressure from home buyers.Increases in national debt are also usually quoted in nominal terms.National debt and changes in national debt should be quoted relative to GDP.Welfare payments should be quoted relative to GDP per capita.  When GDP per capita rises this should be described as a cut in welfare payments.
       
 (DIR) Post #ATPsyZeuqXZnCK7Icy by artsrc@aus.social
       2023-03-08T20:17:26Z
       
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       @johnquiggin Recent experience shows the costs of monetary policy.  Low rates increase leverage and amplify financial risks.  Rapid increases in rates cause highly concentrated financial stress for new borrowers.We also the weakness of conventional monetary policy pre-covid.  Rates were low over the decade around the world.  Economies were stagnant, with low growth, low inflation, low wage growth, and stagnant labour under utilization.By contrast we say the power of fiscal policy.  We had a rapid recovery but, also inflationary pressures.Rather than focusing on the tool that does not work, monetary policy, strengthening the tool that does, fiscal policy, makes much more sense.
       
 (DIR) Post #ATbOEo3QKLglnMML1U by artsrc@aus.social
       2023-03-14T09:29:34Z
       
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       @johnquiggin They should announce an AUKUS 2% surcharge on the GST, to take it to 12%.
       
 (DIR) Post #ATcEaYCFA5eabIAsKW by artsrc@aus.social
       2023-03-14T19:16:09Z
       
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       @johnquiggin Green voters support the voice more strongly than any other parties voters.Labor strategy, on climate and other policy as well, is more about politics that outcomes.  I suspect they want to divide the Liberal party.
       
 (DIR) Post #ATl1BP4xHALUDm7i0e by artsrc@aus.social
       2023-03-19T00:58:21Z
       
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       @johnquiggin On #insiders they mentioned that there was an every 5 year, 1,000 page report, with ideas, from the Productivity Commission that has just been released.Is there an analysis of that report by you, or someone with similar skills and knowledge?
       
 (DIR) Post #ATqzWSiLv89gcMDz3Q by artsrc@aus.social
       2023-03-21T22:08:01Z
       
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       @johnquiggin The obvious solution is to set permanent rate of tax at a high / contractionary level, and have fiscal stimulus in place most of the time.Macroeconomics solved, next.