The Dollar Joins the Currency Wars — Roubini Nouriel
Roubini Nouriel explores how policymakers intend to boost the economy through export-led growth. Countries are attempting to depreciate their currencies in order to increase trade surplus and stimulate economic growth. Nouriel declares that the US have joined the “currency war” to prevent further growth in the US dollar, with the aim of encouraging capital spending and residential investment.
Vic Government Mulls East-West Link 2.0 — Leith van Onselen
Whilst tax payers are still reeling over the scrapped $339 million dollar project, the Labor Government is already devising plans for a new, $5.5 billion initiative to “connect the West Gate Freeway to CityLink via a tunnel”. Onselen accepts that there is a need for an East-West connection, but cautions the Government to be more diligent about decisions regarding the future of the Australian economy.
As the shift towards health and nutrition becomes increasingly significant, the prospects for Australian farming and agriculture should be thriving. However, Australia is experiencing an ‘acute shortage’ of trained labourers in addition to battling concerns for food security, climate change and competing with international rivals. Farmers are relying on biosecurity to protect the “green” image Australia currently purports to possess.
Australia’s AAA Rating Not In Danger, Joe Hockey Says — Matt Siegel and Paul Ingrassia
As Australia experiences the effects of the increasing budget deficit, Treasurer Joe Hockey is adamant that Australia is not at risk of losing its triple-A credit rating. Siegel and Ingrassia identify the plummeting price of iron ore as a significant contributor to debt. Hockey claims that the government is cracking down on illegal foreign buyers in the property market and reassessing the loopholes in the present taxation laws which are allowing multinational companies to evade taxes.
In light of Scott Morrison’s recent comments, labelling negative gearers as ‘battlers’, Peter Martin contests that negative gearing is merely a scheme to help the rich get richer. It is a flawed system which allows many to avoid paying taxes, whilst making substantial gains in capital. In this article, Martin challenges who the battlers really are, and furthermore, explains why negative gearing should be abolished.