Month: March 2025 AWST

Reported at www.rossgittins.com: Reserve Bank deputy governor Andrew Hauser highlights the complexities of the current economic environment, emphasizing the importance of human behaviour over formal economic models.

Ross Gittins argues that the recent inflation surge, attributed primarily to COVID-19 and geopolitical factors, also stems from psychological influences like herd behaviour among businesses in setting prices.

He suggests that businesses anticipated price increases and collectively raised prices once inflationary pressures emerged, creating a self-fulfilling prophecy, even as previous low inflation rates resulted from a fear of raising prices in a stable environment.

Reported at thepolitics.com.au: Cyclone Alfred, recently declared an “insurance catastrophe,” has intensified awareness of the financial burden stemming from climate change in Australia, especially regarding rising insurance premiums that exacerbate cost-of-living pressures.

This cyclone disrupted political timelines, postponed the upcoming federal election, and shifted focus back to climate issues as they relate to economic consequences.

Meanwhile, nearly one in five Australian households remain uninsured or underinsured, highlighting the growing vulnerability of citizens as insurance companies grapple with climate-related risks.

From michaelwest.com.au: Whistleblowers play a crucial role in exposing corruption and power abuse but often face severe retaliation, including humiliation, harassment, and job loss, which can lead to significant personal and societal costs.

A report by the UK Whistleblowing Charity Protect highlights that ignoring whistleblowers can result in substantial financial fallout, as seen in three major UK scandals, leading to millions in costs and tragic consequences.

Despite the challenges, there are signs of improvement in whistleblower protections and increased public awareness of their importance in safeguarding integrity within organizations.

Reported at www.abc.net.au: Russia has warned Australia of “grave consequences” if Australian troops participate in a proposed Western peacekeeping operation in Ukraine.

Prime Minister Anthony Albanese has left the option open for troops to join a “coalition of the willing,” while Opposition Leader Peter Dutton opposes sending Australian forces into the conflict.

The Russian embassy emphasized that the presence of Western military in Ukraine would undermine peace efforts and reiterated their stance against foreign troops in the region.

Reported at www.theguardian.com: Former Australian Prime Minister Malcolm Turnbull asserts that leaders must not capitulate to bullies after receiving criticism from Donald Trump, who called Turnbull weak and ineffective on social media.

The exchange followed an interview by Turnbull in which he described Trump’s leadership as chaotic and noted its potential benefits for China.

Turnbull asserts that yielding to such behaviour only encourages further bullying.

Reported at reneweconomy.com.au: Labor’s electoral victory in Western Australia enables a significant household battery rebate initiative, offering up to $7,500 per household while aiming to facilitate renewable energy storage and support the grid.

Despite the focus on these battery projects, progress in establishing new large-scale wind and solar farms remains lacking, with only a few projects initiated in the past five years.

The state and federal governments have set a target to deliver over 6 terawatt hours of new wind and solar by the decade’s end, but current developments indicate a substantial challenge ahead in transitioning away from coal-fired power.

From johnmenadue.com: Peter Kent argues that Australia’s participation in the AUKUS pact signifies a strategic failure due to the lack of a coherent national strategy to complement its defence posture.

Australia should critically evaluate whether support for the U.S.-dominated hegemonic model is the best path forward, suggesting the need for alternative governance frameworks that promote global well-being.

Until Australia addresses this fundamental question, its defence decisions and armament purchases risk perpetuating a flawed strategic approach.

From johnmenadue.com: The article discusses a controversial law pushed through by the Labor Party and the Liberal-National Coalition aimed at reinforcing the two-party system in Australia by limiting funding available to independents and minor parties while increasing resources for the major parties.

It raises concerns about the potential for constitutional challenges based on precedents affirming the right to political communication, suggesting the law could be invalidated. Voter trends indicate growing support for independents, which may undermine the effectiveness of this legislation, especially if it is perceived as undemocratic by the electorate.

Reported at www.theguardian.com: Labor has achieved a comfortable victory in the Western Australia election, securing 40 seats while the Liberals remain far behind at five.

Despite this win, there is an approximate 11% swing against Labor, particularly in the outer suburbs, indicating a tougher battle is expected in the upcoming federal election.

The new seat of Bullwinkel is anticipated to be the most fiercely contested, with Labor facing significant challenges as local voter priorities diverge from federal party support.

Reported at www.sbs.com.au: Peter Dutton, Australia’s Opposition Leader, holds the marginal Queensland seat of Dickson by just 1.7%, facing challenges from Labor’s Ali France and independent candidate Ellie Smith who have criticised his perceived neglect of local issues like cost-of-living pressures and infrastructure delays.

France, motivated by personal experiences with healthcare costs, gained traction in the previous election, while Smith highlights community dissatisfaction.

Despite concerns over Dutton’s policies, political analysts suggest he remains likely to retain the seat due to his profile as Opposition Leader.

Reported at michaelwest.com.au: Support for the coalition remains ahead of the Labor government, with the latest Newspoll showing a 51% to 49% lead for the coalition on a two-party-preferred basis.

Anthony Albanese has improved his standing as preferred prime minister, increasing his lead over opposition leader Peter Dutton, whose approval rating has dropped.

Reported at www.abc.net.au: The Northern Territory Police Association has raised concerns regarding the appointment of senior officers, including Acting Commissioner Martin Dole, following findings of “incompetence” and “negligence” against Police Commissioner Michael Murphy by the territory’s corruption watchdog.

Chief Minister Lia Finocchiaro has initiated the process to terminate Murphy’s position after it was revealed he mishandled a conflict of interest when appointing a close friend as Assistant Commissioner.

The integrity of other high-level appointments made during Murphy’s tenure has been called into question, prompting demands for independent assessments of those positions.

Reported at www.abc.net.au: WA Labor has been reelected and announced $3.4 billion in promises for its next term, focusing on key issues like housing, health, cost of living, energy, youth justice, and education.

The government plans to build 1,800 affordable homes, expand health services, implement cost-of-living supports, and introduce a residential battery scheme among other initiatives.

Additionally, Labor aims to enhance youth justice through early-intervention programs and invest significantly in transportation infrastructure and road safety improvements.

Reported at www.sbs.com.au: Welfare payments will increase for over five million Australians, including pensioners, renters, and job seekers, starting on March 20.

Single pensioners will receive an additional $3,913 annually, while JobSeeker recipients can expect between $3,374 and $5,038 more per year.

Social Services Minister Amanda Rishworth emphasized the government’s commitment to easing cost of living pressures through these indexation changes.

Reported at www.sbs.com.au: Police have determined that a caravan filled with explosives in Dural, NSW, was part of a “fake terror plot” orchestrated by organised criminals, aimed at instilling fear in the Jewish community.

The caravan contained powergel explosives and a note with antisemitic content; police initially treated it as a credible threat but quickly realized it was fabricated.

Despite the plot being fake, authorities acknowledged that its discovery had a chilling effect on Jewish Australians, leading to heightened community concerns.

Reported at www.theguardian.com: Australia’s Home Affairs Department warned in November 2023 that the government’s perceived one-sided support for Israel during the Gaza conflict led to significant anger and feelings of betrayal among Palestinian and Muslim communities, raising concerns about social cohesion.

A briefing document revealed plans for a $25 million funding package aimed at strengthening support for these communities, while also noting that some Jewish groups felt excluded from the funding.

Reported at www.theguardian.com: Elbridge Colby, nominated as undersecretary of defense for policy, expressed scepticism about the Aukus agreement to sell Virginia-class submarines to Australia, fearing it could leave US sailors vulnerable if tensions rise in Taiwan.

He emphasised the importance of maintaining sufficient US attack submarine numbers to defend Taiwan and cautioned against reducing the US fleet to accommodate Australia’s needs.

Despite supporting Australia’s submarine ambitions, Colby raised concerns about the US’s current production rates and the logistics of meeting both its own requirements and Australia’s requests under the Aukus pact.

Reported at www.theguardian.com: Labor has secured a third term in Western Australia, with the Liberal Party failing to gain the necessary swing to compete effectively against Premier Roger Cook.

Early voting results showed Labor maintaining key seats while the Liberals struggled to regain ground lost in previous elections.

Key issues for voters included cost of living and housing, with Labor emphasizing a stable government and the opposition arguing for a stronger counterbalance.

From johnmenadue.com: Australia’s education system increasingly prioritizes neoliberal principles, emphasizing standardised testing and efficiency, which risks undermining the holistic development of students.

Standardised assessments, such as the National Assessment Program – Literacy and Numeracy, create stress and perpetuate inequities, narrowing the curriculum and hindering the nurturing of empathetic, critical thinkers.

A call for transforming education advocates for holistic assessments, greater focus on the humanities, and collaborative learning environments to foster well-rounded graduates capable of contributing meaningfully to their communities.

From www.theguardian.com: Barrie Cassidy and Tony Barry discuss historical insights relevant to the upcoming 2025 Australian election in their podcast “Back to Back Barries.”

The lessons Australian Prime Minister Anthony Albanese can draw from former Prime Minister Bob Hawke’s experiences, and context and strategies for navigating election challenges amid economic concerns.