Looking at all this angst and pointless pontificating about causes, effects and gloom ahead, I can’t help but think the issues are much more simple than the commentators dare to suggest.
Businesses almost choreographed inflationary pressures driven by flagrant price gouging as soon as the Coalition lost the last election. This hasn’t stopped and threatens us with recession. Deliberate economic vandalism by big business to undermine wage rises and rising standards of living.
Excuses for price gouging, especially about supply chains and war in the Ukraine are pathetically weak: do they really mean to tell us that the entire crop of overpaid and underworked board members and executives in Australia failed to conduct and act on any risk management whatsoever? Pretty basic business management stuff.
And if external factors really stretched businesses, particularly big businesses, how come their profit margins have soared?
The answer is glaringly obvious: they’re lying. That’s what any rational observer would call market manipulation, and manipulation like this is one of the soundest reasons for state intervention in markets.
It’s just fatuous for commentators to use ambiguous jargon and tortured excuses based on discredited economic theory in their desperate effort to avoid pointing to the elephant in the room, and cowardice for the Albanese government not to state categorically that taxes on profits will rise if price gouging doesn’t stop.
Any talk that the issues are more complex is just utter bullshit.
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