Incoming Feed Items

It also questions the RBA’s apparent obsession with keeping wages low.

The research by Chief Economist Greg Jericho has found that using the Reserve Bank’s own predictions, it will take workers until 2037 to get back to where they were at the end of the COVID pandemic.

The analysis highlights the RBA’s repeated warnings about the dangers of wage growth, even though wages are stagnant, yet prices and corporate profits are soaring.

It also reiterates that it’s profits to blame for surging inflation, not consumer spending, even though consumers have been punished for inflation with repeated interest rate rises.

The analysis reveals that governments are also to blame for stalling wages, with many imposing unfair and unnecessary caps on public service wages, blatantly offering pay rises below inflation.

“People understand that, in very broad terms, the Reserve Bank has put up interest rates in response to high inflation,” said Greg Jericho, Chief Economist at The Australia Institute.

“But what many don’t realise is that the RBA seems to be obsessed with keeping wages down.

“In a recent meeting, Michele Bullock warned of ‘higher wage increases that will feed through into business’.

“What makes that comment even more extraordinary, is that it came immediately after the worst quarter of wage growth in four and a half years.

On this episode of What’s the Point?, Richard Denniss explains how the crossbench works and the politics of deal-making in federal parliament.

This episode was recorded on Friday 21 August.

More Fool Me: How the gas industry tricked Australia by Richard Denniss, the latest Vantage Point essay from Australia Institute Press, is available now.

Use the code ‘FOOLME’ on a four-edition Vantage Point subscription to receive a free copy of Richard’s book, Econobabble.

Read more on The Point.

Host: Richard Denniss, co-Chief Executive Officer, the Australia Institute // @richarddenniss

Host: Anna Chang, Managing Editor, The Point // @annachang

Show notes:

Climate Integrity Summit 2026, the Australia Institute

National Gambling Toll, the Australia Institute

Australian renters are giving up weeks of their working year to cover rising rents, with lower paid workers losing the equivalent of their entire annual leave entitlement. 

Everybody’s Home’s 2026 Priced Out report analysed rental affordability for Australians earning between $40,000 and $130,000 per year across capital cities and regional areas.

The report shows:

Consider a simple question. The Biden Administration imported somewhere between six and ten million immigrants into the United States illegally. Do you think President AOC or President Newsom, if given the chance starting in January 2029, would let in fewer than Biden or more?

The American people don’t need a detailed policy briefing to answer that question. Amnesty and mass immigration are key features of expanding the Democratic Party coalition. Its ideology and electoral math, along with a vast government-contractor apparatus that supports the party, entrench a quasi-legal parallel rights regime.

Meanwhile, in the wake of Minneapolis, conventional GOP analysis holds that a combination of unsurvivable headlines and business interests demanding labor flexibility will pull the Republican Party back toward accommodation. That calculation may hold for another few months in Washington, or even survive until the midterms. It will not survive beyond then.

The accommodationist wing of the Republican Party sees immigration as the kind of disagreement that can be settled with a clever compromise, new labels, or a schedule of fines and penalties offered to voters who were promised the opposite in 2024, and who will bear the consequences of continued wage stagnation.

On October 23, 1956, students gathered at the foot of Sandor Petofi’s statue in Budapest and read his poem “Rise, Magyar!” made famous in the democratic revolution of 1848. Workers, and even soldiers, soon joined the students. The demonstrators took over the state-run radio station and the Communist Party offices and toppled a huge statue of Stalin, dragging it through the streets. Rebellion spread throughout the country. The demonstrators—now Freedom Fighters—held Soviet occupation forces at bay for several days.

On November 1, the Hungarian Prime Minister announced that Hungary would withdraw from the Warsaw Pact. At dawn, November 4, the Soviets launched a major invasion of Hungary, in an offensive involving tens of thousands of additional troops, air and artillery assaults, and 6,000 tanks. A heroic resistance was crushed in less than a week.

The last free Hungarian radio broadcast spent its final hours repeating the Gettysburg Address in seven languages, followed by an S.O.S. Over 20,000 Hungarians were tried and sentenced for participation in the uprising, hundreds receiving the death sentence. An estimated 200,000 Hungarians—of a population of nine million—became refugees. Forty-seven thousand came to the United States. Hungary became a member of NATO on March 12, 1999.

Call for Papers: The 17^th AIPEN Workshop: Political Economy in a World of Transitions: Is Another World Possible?

Monash University, 4-5 February 2027

Widespread use of the word “meritocracy” may only be possible in the world it describes. British sociologist and former Labour Party official Michael Young coined the term in a 1958 satire as a sly alternative to aristocracy, clumsily mixing Latin (mereo: to deserve) with Greek (kratos: power, rule). Young’s friend, a classicist, warned he would be “laughed to scorn” for employing such a barbarism. Her caution was, sadly, optimistic.

Nonetheless, meritocracy’s advocates have attempted to supply it with a noble lineage. Vivek Ramaswamy, the Republican nominee for governor of Ohio and former presidential candidate, is convinced the 20th-century term is central to the American experiment going back to 1776. Palantir’s Jordan Chandler Hirsch likewise argues that America was “born meritorious,” defining meritocracy as when government and society operate through objective measures of “quality and talent, open competition based on fair play, and ruthless disinterest in any other factor.”

On this episode of Dollars & Sense, Greg and Elinor discuss another quarter of no “wage-price spiral”, plus the passage of massive NDIS cuts and gambling legislation through parliament.

This discussion was recorded on Thursday 20 August 2026.

If this episode raised issues for you, you can call the National Gambling Helpline on 1800 858 858 for free, professional and confidential support 24 hours a day, 7 days a week. Or visit Gambling Help Online at www.gamblinghelponline.org.au.

If you or anyone you know needs help, you can contact Lifeline on 13 11 14 or online at www.lifeline.org.au.

More Fool Me: How the gas industry tricked Australia by Richard Denniss, the latest Vantage Point essay from Australia Institute Press, is available now. Use the code ‘FOOLME’ on a four-edition Vantage Point subscription to receive a free copy of Richard’s book, Econobabble.

Host: Greg Jericho, Chief Economist, the Australia Institute // @grogsgamut

This interview is also available on podcast platforms and Rumble.

The bipartisan US-backed genocide in Gaza exposed the corruption of the political system in the United States and the hypocrisy of the Democratic Party, which claims to represent working people. Rather than recognizing this fact and shifting its stances to better represent its voting base, the Democratic Party establishment is attacking candidates who run on progressive platforms and is setting the stage for another Republican victory.

Everybody’s Home is calling on politicians to stop amplifying misleading claims that changes to investor tax breaks will push up rents, warning that the scare campaign risks becoming a self-fulfilling prophecy.

The national housing campaign said changes to negative gearing arrangements, which will not change for existing landlords, should not be used to justify higher rents. Repeated claims that rents will inevitably rise are creating a permission structure for landlords to charge renters more.

The campaign was responding to cherry-picked figures and quotes from the National Australia Bank and Ray White property, which were both walked back.

Everybody’s Home spokesperson Maiy Azize said: “Politicians should not be misleading landlords and renters about these reforms.

“Existing landlords shouldn’t use investor tax break reform as an excuse to put up the rent. But every time politicians repeat the claim that rents will rise, or it gets reported as an inevitable consequence of reform, it creates an expectation that renters can be charged more.

“Rents were rising long before these reforms. They rose while negative gearing and the capital gains tax discount were fully in place. Renters have been told rents must rise when interest rates go up, and when they go down. Now they are being told rents must rise because tax breaks are being wound back.

Thirty-two Cubans died when American forces entered Caracas on January 3, 2026, to capture Nicolás Maduro. Cuba and Venezuela are more than a thousand miles apart. Why were Cubans dying in defense of Maduro? How did a small Caribbean island become so deeply invested in the survival of another country’s dictatorship?

To answer those questions, we have to go back nearly seven decades to a revolution that promised liberation but spent a lifetime exporting authoritarianism and reshaping the politics of an entire hemisphere.

From the moment he seized power in 1959, Fidel Castro knew that the survival of his revolution depended on its spreading throughout South America. In the years that followed, Havana trained Marxist guerrillas across Latin America, dispatched troops to fight Soviet proxy wars in Africa, supported Syria in its war against Israel, and embedded intelligence officers inside allied dictatorships. Today, it’s widely reported that Cuban nationals are fighting alongside Russian forces in Ukraine.

Introduction

Because we use it every day, most people assume that they know how money works. The truth is that money is a strange invention: the way it works today is neither natural nor inevitable, but the product of particular choices that could have been made differently. Like other complex technical systems, the design of our monetary system has profound consequences for our politics and collective well-being.

In Against Money (2026, Chicago University Press), economists Josh W. Mason and Arjun Jayadev unpack misleading depictions of money, often found in the business press and introductory economics courses, which collapse the complex and deeply political story of money, credit, and debt into a simple narrative that obscures the laws and institutions that make up modern monetary systems. They argue that money is not a neutral ledger of real exchange values, but a powerful and malleable technology for coordinating the activities of market actors, making possible the complex economic coordination on which modern economies depend.

The American Mind Podcast is a weekly conversation with Ryan Williams, Spencer Klavan, and Mike Sabo devoted to uncovering the ideas and principles that drive American political life. Stream here or download from your favorite podcast host.

Groypers, Grifters, and the GOP: Florida’s Primary Election | The American Mind Podcast

Florida is conducting a primary election to pick Governor Ron DeSantis’s conservative successor. President Trump’s choice, Representative Byron Donalds, leads in the polls. Opposing him, political newcomer James Fishback leads a young, online centric and anti-Israel platform. Meanwhile, the Left coalition continues its reckoning with Woke, reordering to capture populist, pro-Gaza, and anticapitalist energy. Plus, backlash against Big Tech: data centers, Flock cameras, and more!

Dr Richard Denniss, Australia Institute co-CEO and author of More Fool Me: How the gas industry tricked Australia, joins Ebony Bennett to discuss why Australia gives away gas to multinational corporations and why similarly dud deals could happen with Big Tech and other industries if we don’t learn lessons from the past.

This episode was recorded on Tuesday 18 August.

More Fool Me: How the gas industry tricked Australia by Richard Denniss, the latest edition in the Vantage Point series, is available now.

Use the code ‘FOOLME’ on a four-edition Vantage Point subscription to receive a free copy of Richard’s book, Econobabble.

Guest: Richard Denniss, co-Chief Executive Officer, the Australia Institute // @richarddenniss

Host: Ebony Bennett, Deputy Director, the Australia Institute // @ebonybennett

Show notes:

This article is read by Eunice Wong. You can find her work at www.eunicewong.actor.

Text originally published August 17, 2026.

The Dead

 — Author: Chris Hedges — Monday 17th August 2026

More…

Here's Some Random Stuff Banned in 19th-Century Nashville

 — Author: Betsy Phillips — Monday 17th August 2026

Throwing long bullets, flying kites and other things the Nashville government didn't want us to do in 1850

More…

What’s the point of gambling reform?

 — Organisation: The Australia Institute — Monday 17th August 2026

On this episode of What’s the Point?, Richard Denniss explains the lack of strong gambling reform, and why gambling losses continue to climb despite widespread calls for change.

Host: Richard Denniss, co-Chief Executive Officer, the Australia Institute // @richarddenniss

Host: Anna Chang, Managing Editor, The Point // @annachang

Climate Integrity Summit 2026 tickets.

Order More Fool Me: How the gas industry tricked Australia by Richard Denniss, the latest Vantage Point essay from Australia Institute Press.

Show notes:

National Gambling Toll

Online wagering companies and company tax in Australia

Sarah Hanson-Young on The Point

More…

Forget the age of enlightenment. This is the age of ‘enshittification’

 — Organisation: The Australia Institute — Monday 17th August 2026

Jetstar recently announced it will begin charging fees for passengers who use overhead cabin baggage. You’re probably seeing ads on the streaming platform you subscribe to, when there used to be none. Self-checkouts have largely replaced people at Coles and Woolies. And does it feel to you like we’re being forced to subscribe to absolutely everything now?

I get enraged that I am now forced to watch ads on Netflix and Prime, when the whole point of streaming was to avoid ads in the first place. I am fortunate enough to afford multiple streaming services, but I flat out refuse to pay more for an ad-free experience.

I used to get as part of my basic subscription. It’s infuriating. But let’s face it; I’ll probably pay for overhead baggage on Jetstar because it’s convenient.

It feels like no matter where consumers turn now, they are paying the same or more and getting less product or worse service. In recent years, particularly during COVID-19, many companies engaged in what’s known as ‘shrinkflation’, where the size of the product, like a bar of chocolate, shrinks but the price stays the same.

Excessive corporate profits have been the major driver behind the rise in inflation we’ve all been experiencing in recent years, according to Australia Institute research and the OECD. The Reserve Bank has been punishing households with interest rate rises to combat inflation they didn’t cause.

More…

Online gambling giants win billions, pay no company tax

 — Organisation: The Australia Institute — Sunday 16th August 2026

Three major gambling companies — Tabcorp, bet365 (Hillside), and Pointsbet — won $1.3 billion dollars from Australian gamblers in 2023-24, yet paid zero company tax.

bet365 (Hillside) and Pointsbet have never paid company tax in Australia despite winning over $2 billion. bet365 lists numerous subsidiaries in secrecy jurisdictions such as Delaware, Malta and Alderney in the English Channel.
These findings underscore the Murphy Review’s call for a federal levy on online wagering revenues to fund gambling harm reduction measures.

Key points:

• The five largest online wagering companies won $5.4 billion in 2023-24, but reported just $0.4 billion in profit (taxable income) and paid $0.1 billion in company tax, just 2% of their winnings.
• The big five spent at least $600 million on advertising and promotion in this period, six times more than they paid in company tax.
• These companies paid at most $700 million in state gambling taxes, some of which is earmarked for horse racing industry bodies that “invest” in promoting further wagering.
• These companies spent around $720 million on fees to sporting organisations, the vast majority of which goes to the horse racing industry. Media reports suggest the AFL and NRL collect just $50 million each per year.

“The Murphy Review recommended a federal levy on online betting and now we know why,” said Rod Campbell, Research Director at The Australia Institute.

More…

How Trump’s Iran War Is Bringing Down the American Empire

 — Author: Chris Hedges — Sunday 16th August 2026

---

The Chris Hedges Report is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

More…

The Assault on Public Health and the Self-Sabotage of a Nation

 — Author: Thomas Zimmer — Sunday 16th August 2026

More…

America’s Winning Playbook Against China

 — Organisation: The Claremont Institute — Friday 14th August 2026

On foreign policy, Washington agrees on almost nothing. How much or whether to arm Ukraine, how hard to push Israel, what to do about Iran—these questions split both parties. But one issue cuts across the partisan divide with something close to consensus: China is the greatest strategic challenge of our era, and America must prevail.

That consensus is both practical and ideological. Unlike when our competition with the Soviet Union during the Cold War was mostly measured in missiles, ships, semiconductors, and satellites, our competition today with China is mostly measured in economic growth, minerals, manufacturing, and supply chain security. In both cases, the ultimate competition is between a nation built on freedom and limited government and one built on command and control.

The parallel runs deeper than most people appreciate. When America competed against the Soviet Union, we did not try to out-Soviet the Soviets. We did not build a command economy to match theirs. We built a freer one, trusted it to outperform, and won. The technologies that defined American victory—GPS, the microchip, the internet—were byproducts of a freedom-driven competition that unleashed American ingenuity at a scale no command economy could match.

And yet the temptation to abandon this system is growing stronger.

More…

Spreading Jesus Through the OMB: The Final Levers OMB Has Over Agencies are “Management Initiatives”

 — Author: Nathan Tankus — Publication: Notes on the Crisis — Friday 14th August 2026

This is a free piece of Notes on the Crises. All pieces in our OMB coverage will be free. Please take out a paid subscription to support this work. Or leave a tip. 

Joshua Lawrence is a research fellow at Notes on the Crises and graduate of Sarah Lawrence College. Find him on Bluesky here.

Juan Hanes is a research fellow at Notes on the Crises and a Journalism student at NYU. Find him on Bluesky here.

More…

Appointment to the Monetary Policy Board

 — Organisation: Reserve Bank of Australia (RBA) — Friday 14th August 2026

Media Release Number 2026-20: The Reserve Bank of Australia welcomes the announcement by the Treasurer appointing Melinda Cilento to the Monetary Policy Board.

More…

Woke 2.0 Will Be Worse

 — Organisation: The Claremont Institute — Thursday 13th August 2026

Readers familiar with Dr. Seuss’s classic, The Cat in the Hat, will remember the twin chaos agents Thing 1 and Thing 2. “‘These Things are good Things,’” the Cat reassures the children whose mother has inexplicably left them under the supervision of a fish. “‘They are tame. Oh, so tame! / They have come here to play.’” The Things briefly feign innocence, then quickly reveal themselves to be marauding imps, knocking over nightstands and ruining the linens. “I do not like the way that they play!” says the son of the house.

Now here comes Woke 1 and Woke 2. “Woke 1 was crazy,” said U.S. Representative Alexandria Ocasio-Cortez, quoting an unnamed city councilman in a viral interview for ABC. The congresswoman sheepishly acknowledged that Americans did not like the way Woke 1 played out, while also implicitly announcing that there will soon be, or already is, a Woke 2. And it will be tame. Oh, so tame!

There is, in fact, a new version of wokeness in the making. But just as Thing 2 was fundamentally identical to Thing 1, Woke 2 will not be any different in essence from Woke 1. They are both here to upend the furniture. Wokeness in all its forms is grievance politics. Its central idea is that an injustice lies at the heart of America and must be corrected to atone for the historical misery inflicted on groups of innocents.

More…

“Deep and brutal” NDIS cuts: A poor reflection of our national character

 — Organisation: The Australia Institute — Thursday 13th August 2026

The report reveals there is little evidence to support claims of fraud within the NDIS by organised crime.

It also found the overriding premise of cuts being required to ensure the ongoing sustainability of the NDIS is false, given a 25% tax on gas exports would, over the next four years, raise $31.8 billion more than the cuts to the NDIS.

That is more than enough to cover the cuts, while the level of fuel tax credits to be provided to mining companies over the next four years is equivalent to 61% of the proposed cuts.

Findings include:

• Over the next four years a 25% tax on gas exports would raise $31.8 billion more than the total of the cuts to the NDIS.
• Over the next four years the budget projects to spend $46 billion on providing fuel tax credits, which is $10.8 billion more than the NDIS cuts.
• $22bn of the fuel tax credits are expected to go to the mining industry.

“The cuts to the NDIS are deep and brutal, revealing in a truly stark fashion what happens when a government chooses the profits of gas companies over the lives of Australians” said Greg Jericho, Chief Economist at The Australia Institute.

“Treasury modelling suggests the cuts will lead to a net 160,000 fewer people on the scheme – due to 240,000 people leaving the scheme and 80,000 new people coming into the scheme.

More…

Should superannuation be used to control inflation?

 — Organisation: The Australia Institute — Thursday 13th August 2026

On this episode of Dollars & Sense, Greg and Elinor discuss why superannuation could be a better way to control inflation than interest rates, the continued hand-wringing about house prices falling a tiny bit after skyrocketing for years, and why Andrew Bragg has communism on the brain.

This discussion was recorded on Wednesday 12 August 2026.

Pre-order More Fool Me: How the gas industry tricked Australia by Richard Denniss, the latest Vantage Point essay from Australia Institute Press. Use the code ‘FOOLME’ on a four-edition Vantage Point subscription to receive a free copy of Richard’s book, Econobabble.

Host: Greg Jericho, Chief Economist, the Australia Institute // @grogsgamut

Host: Elinor Johnston-Leek, Senior Content Producer, the Australia Institute // @elinorjohnstonleek

Show notes:

Isn’t it amazing what a policy that actually tackles the cause of outrageous house prices can do? by Greg Jericho, Guardian Australia (August 2026)

More…

Fireside Chat The Restrictive Stance of Monetary Policy

 — Organisation: Reserve Bank of Australia (RBA) — Thursday 13th August 2026

Speech by Christopher Kent, Assistant Governor (Financial Markets), to the Reuters NEXT Newsmaker Interview: LSEG Insight Series

More…

Everybody’s Home statement on National Construction Code

 — Organisation: Everybody's Home — Thursday 13th August 2026

Please attribute the following to Everybody’s Home spokesperson Maiy Azize regarding Opposition housing spokesperson Andrew Bragg’s proposal to strip back the NCC: 

“Everyone deserves a safe, decent and affordable home. It’s where people sleep, study, raise their families and build their lives.

“Let’s call this what it is. Stripping back the National Construction Code is about helping developers make even more money from the housing crisis by making it easier to build unliveable homes.

“Accessibility, energy efficiency and basic liveability are not luxuries. They are the minimum standards people should be able to expect from their homes.

“Renters already make up around a third of Australians, and too many are being asked to pay enormous rents for poor-quality homes. The answer is to lift standards, not tear them down so developers and landlords can cut more corners.

“Too many renters are already living in homes that are freezing in winter, stifling in summer, riddled with mould and damp, and expensive to heat and cool. Older people and people with disability already struggle to find homes they can safely and comfortably live in.

More…

AOC Goes from Woke 1 to Woke 2: A New Left Coalition Forms | The American Mind Podcast

 — Organisation: The Claremont Institute — Wednesday 12th August 2026

The American Mind Podcast is a weekly conversation with Ryan Williams, Spencer Klavan, and Mike Sabo devoted to uncovering the ideas and principles that drive American political life. Stream here or download from your favorite podcast host.

AOC Goes from Woke 1 to Woke 2: A New Left Coalition Forms | The American Mind Podcast

“Woke One was crazy.” Alexandria Ocasio-Cortez, questioned this week on ABC about a fellow Democratic Socialist’s call to cancel Thanksgiving in 2020, rolled out a new messaging strategy for the Left. Woke 2 will try to distance itself from COVID-era messaging while still demanding that America be transformed to suit its latest grievance coalition. Plus: inflation of the racial oppression narrative, and the purge of liberal arts colleges.

More…