Speaking of Tory's Maggie Thatcher is incredibly rational and poised under attack by members of the public in this interview by Thames TV.

http://www.youtube.com/watch?v=qhLRtUUdDsY

Interesting article GY.

Anthony Albanese's style is totally different from that
of Whitlam's or Bob Hawke's. Mr Albanese is not as flamboyant
and tries to keep under the radar. However he does seem to
be inclusive and not only asks but listens to advice. He consults
with others.

No matter
who would be in charge in this country today - there are so many
problems and challenges that they would face from the housing
shortages, high prices, energy and renewable, China, climate change,
the Indigenous Voice to Parliament, and so on. The
country has gone through pandemics and survived. Hopefully this
will continue with the right decisions being made. Which I am
sure will be made as policies are a feature of this government as
opposed to the previous one which was running on words not actions.
And definitely wasn't listening.

Instead of asking "Will Albanese walk in the footsteps of Whitlam?"
Perhaps what we should be asking is - "Will Peter Dutton walk
in the footsteps of Scott Morrison, who was running on empty?"
And thus far for the Coalition things are not looking good.

Aiden

Increasing profits could be a cause of inflation, but in the present case I don’t think they are the main cause. It’s true that profits have increased hugely in recent years, but that is almost all in the mining sector. For the rest of the economy, profit growth has been pretty much in line with sales growth (though wages growth has been slower).

(From this week’s ABS business indicators data - https://www.abs.gov.au/statistics/economy/business-indicators/business-indicators-australia/latest-release#data-downloads)

If Coles or McDonald’s increases profits by increasing prices in Australia, it could cause inflation here. If BHP increases profit by increasing prices charged for iron ore to Chinese steel mills, it probably won’t (though some of the increase in mining profits reflects high oil and gas prices which are affecting Australian domestic prices, especially on the East Coast).

Almost all developed economies have seen steep growth in inflation in the past year, and unless there has been a global outbreak of rampant profiteering it’s likely that other factors are the main cause both here and overseas – the Ukraine war, supply chain snarl-ups post covid, and massive fiscal stimulus in recent years.

That why respected economists like Saul Eslake dispute the Australia Institute’s assertion that profits are driving inflation.

https://thenewdaily.com.au/finance/finance-news/2022/07/18/inflation-profits-wages/

The cost of energy, driven by the ridiculous love affair with wind & solar is driving inflation, & it & shortages are only doing to get worse while we continue with these stupid daydreams that they can power our civilisation.

Hassy,

As a 1960's petrol head are you suggesting a return to those good old gas guzzlers you liked to fly around Mount Panorama in? How is it Old Cock up there on your own personal "Saharan Sand Hill".