Warm up by watching the above, then read the latest from Michael Hudson, who is writing up a storm on the inside motivations to banksters bailouts world-wide. Michael Hudson as published on Global Research Banking shares began to plunge Friday morning after Senator Dodd, the Connecticut Democrat who is chairman of the banking committee, said in an interview with Bloomberg … Read More
photo credit: sparr0 Inventors or Speculators An interview with James Murray (Centre for Policy Development) skates thru the GFC, highlighting the trillions in goodwill on the books. Also covered is a touch on Obama radiance and how local rents are jacked up pre-uni year to extort the market. What’s the solution – join our podcasters! Show Notes Workers must restrain … Read More
Following our recent visit to Vanuatu, a colleague put this together, reflecting the heartfelt concern ni-Van’s have for their rapidly dwindling land ownership. Just 29 years since independence, only 11% of land in Villa is locally owned. As Morris Kaloran states: “No matter what factory they use, they cant make any more dirt.” We will be announcing a number of … Read More
photo credit: James Willamor Michael Hudson explores the analogous nature of Ponzi schemes and the property bubble. How is wealth created in the modern era? Through hard word, through who you know or what you ‘flip’? December 23, 2008 Last week the Good Lord evidently realized that not enough people had been reading Hyman Minsky’s explanation of how financial cycles … Read More
IR Reform: Unmentionable Barriers to Job Creation
The Howard government’s industrial relations agenda is supposedly about job-creation, as if the cost of labour — including wages and salaries, penalty rates and other perks, and the difficulty of reversing bad hiring decisions — were the last remaining barrier to full employment.
Sorry that we have to state the bleeding obvious, but:
* Jobs cannot be created unless the employer can pay the rent or mortgage on the business premises out of the proceeds of the business; and
* Jobs cannot be created unless the workers can pay the rent or mortgage on housing within commuting distance of those jobs, out of wages that the employer can pay out of the proceeds of the business.