YouTube video by Michael Moore SiCKO | A Film by Michael Moore | 2007 | Full Movie

SiCKO exposes the harsh reality of profit-driven healthcare under neoclassical economics. It’s a warning for Australia: don’t let markets dictate public services. A healthy society means putting people first—not profits. Public purpose must always drive policy.

youtu.be/YbEQ7acb0IE?...

“The fact that the government has been spending more lately is exactly because the private sector is spending less as a result of the RBA’s rogue monetary policy which is unnecessarily pushing the economy towards recession.”

YouTube video by Blockworks Macro Rethinking Rate Cuts: Are We Fueling Inflation Or Controlling It? | Warren Mosler

www.youtube.com/watch?v=tGTD...

The “wage-price spiral” of the 1970s is a myth. Workers traded labour for wages; they didn’t set prices. Businesses, protecting profits, raised prices when wages rose—a profit-price spiral. Inflation was driven by supply shocks like oil crises, not labour. Blaming workers misses the real story.

NAIRU assumes low unemployment causes inflation, but this is simply untrue. Inflation arises from factors like corporate pricing, supply shocks, and monopolistic power. There’s no empirical basis for the idea that full employment drives inflation, and the wage-price spiral has never been true.

No, the RBA is stacked with neoclassical-trained economists. Their education, theory, and models do not explain the real world. Perversely, they believe some members of the community must suffer for the sake of the “economy” TINA (there is no alternative) while entirely untrue that is their belief

People like @punterspolitics.bsky.social, @michaelwestbiz.bsky.social, and friendlyjordies are so close. If you could only dispel their lingering neoclassical misconceptions of how money and budgets work, we would be able to reach an even bigger audience.

Yes, Treasury Laws Amendment (Reserve Bank Reforms) Act 2024 - assented to 29 November 2024.

Luigi's Manifesto Exclusive: read Luigi Mangione's 262-word manifesto on the killing of UnitedHealthcare CEO

I got the Luigi Mangione manifesto. The real one, not the forgery circulating online. www.kenklippenstein.com/p/luigis-man...

The Treasurer will soon be able to appoint members to the new interest rate-setting board. This is a chance to bring in leaders like Bill Mitchell, Steve Keen, and Steven Hail, economists with bold ideas focused on equity, full employment, and sustainability. @williammitchell.bsky.social

This worldview dismisses alternative approaches and leads to policies that unintentionally undermine governments trying to address inequality and growth differently. The issue isn’t partisanship—it’s economic orthodoxy.

IMO the RBA board likely believes it’s acting a-politically, but its decisions are rooted in the narrow framework of neoclassical economics.

It sounds absurd because the entire theory—sacrificing others’ livelihoods for ‘economic stability’—is absurd. A just economy doesn’t rely on people suffering for others’ prosperity; it ensures shared progress for all.

The RBA’s statement confirms they want ‘other’ people to lose their jobs to curb inflation—ordinary workers, not those in positions of influence or power. Imagine proposing RBA board members’ families lose their jobs to stabilize prices.

The solution?
Demand fiscal-monetary coordination, revised inflation targets, and accountability for policies that exacerbate inequality. Australia needs policies that prioritise people’s economic wellbeing, not rigid monetary dogmas.

Democratic accountability matters:
The Treasurer has the power under the RBA Act to question the Board and recalibrate its priorities. It’s time for monetary policy to align with broader societal goals and support economic recovery, not austerity. #PeopleFirstEconomics

🎯 Rethink inflation targets:
Clinging to a 2.5% midpoint target ignores structural shifts like global trade changes and low productivity. A more flexible approach is needed to balance price stability with full employment and economic wellbeing.

Missed opportunity for fiscal-monetary coordination:
The RBA operates in isolation, neglecting how fiscal policy can alleviate supply constraints and boost productivity. Infrastructure spending and public investment could achieve better outcomes than rate hikes.

📉 Growth and consumption are weak:
The RBA acknowledges sluggish GDP growth (0.8% YoY) and declining household consumption, yet it sticks to policies that suppress demand. This risks pushing Australia closer to a recession while doing little to address inflation momentum.

🔍 Misdiagnosing inflation drivers:
The RBA attributes high inflation to demand pressures but ignores key factors like supply chain issues, corporate profit-taking, and geopolitical uncertainty. Higher rates can’t fix these and only worsen economic hardship. #EconomicJustice

The RBA’s decision to maintain a restrictive monetary stance, keeping rates high despite weak economic growth, raises critical concerns. Its singular focus on inflation targeting risks further harm to households already struggling with financial stress. #auspol #economy

The Right to Democratic Oversight
Strengthening democratic accountability in economic decision-making by involving communities, workers, and unions in shaping policies that impact their lives.

The Right to Public Infrastructure
Investing in accessible transport, communications, and energy systems designed to serve communities, not just profit motives. This includes a strong National Broadband Network (NBN) for equitable digital access.

The Right to Fair Markets
Ensure markets serve public needs through regulations that prevent monopolies, promote ethical business practices, and prioritise Australian-made goods where feasible.

The Right to a Sustainable Environment
Australians have the right to clean air, water, and land. Policies would focus on protecting natural resources, transitioning to renewable energy, and holding corporations accountable for environmental damage.

The Right to Basic Income Security
A robust social safety net would include unemployment benefits, pensions, and disability support at living-wage levels, enabling individuals to live with dignity while transitioning through life’s challenges.

The Right to Education
Guaranteeing free, high-quality education from early childhood to tertiary levels. Investment in vocational training and lifelong learning would ensure Australians can adapt to evolving industries and technologies.

The Right to Healthcare
Strengthening Medicare to ensure it remains universally accessible while expanding services to include mental health, dental care, and aged care without additional costs to individuals.

The Right to Housing
Housing should be treated as a human right, not a commodity. Policies would prioritise affordable public housing projects, regulations to curb speculation, and community-based initiatives to address homelessness.

The Right to Meaningful Work
All Australians should have access to a dignified, well-paying job with fair working conditions. This needs proactive public investment in industries like renewable energy healthcare infrastructure, reflecting Australia’s need for climate action and economic resilience.