En Passant

So it appears MasterCard gets a lot of revenue from Australia and yet pays little tax here. It screws us with high credit card interest rates and screws us again by not paying much tax here. Shame on MasterCard and shame on our politicians for not addressing the high credit card interest rates or the tax avoidance.

One of the best ways to keep interest rates down would be to properly tax resource rents. Thanks for the forthcoming interest rate rises Julia and Tony and Markus, Tom, Twiggy and Clive.

We can begin a fight back against higher interest rates and prices by striking for more wages and so winning back a little of the profit we make for the bosses.

The actions of the Commonwealth Bank in raising interest rates and cutting employees’ wages show we are not all in this together.

Reuters reports that the National Union of Metalworkers of South Africa has threatened strike action unless the Central Bank of South Africa cuts interest rates further to stimulate the economy.  The peak union body COSATU ( a mainstay of the ANC Government) supports the call.  A little different to our peak union body the ACTU for […]

The Reserve Bank of Australia has kept interest rates unchanged. The cash rate remains 3.25 per cent.  As the economy tanks – unless the inflation bogey is scaring the Bank more than mass unemployment –  the RBA is likely, in my opinion, to slash this figure next month.