Australia's economy is a corporate oligarchy
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- Опубліковано 27 лип 2024
- In this detailed interview with Bill Woods at Radio 2GB, I discuss Treasurer Chalmers' shocking decision to approve ANZ's takeover of Suncorp Bank, alongside the federal government's failures on immigration and energy, which are contributing to Australia's sticky inflation problem.
Voting for the major parties is the very definition of insanity.
@@ayfj4572 vote One Nation.
Haven't voted for anyone but one nation for the past 20 years will never ever vote the 2 major parties.
It appears they are the same party trying to look different.....like different flavoured dogfood! 😂
In Australia ,we have 4 branches of the same political party and 1 bank with 4 different logo's.
@@briananderson7285 One nation are only for rich people not average people.
I’m sure it will make sense when you see where these politicians end up outside of politics..
I can already see a cushy 'Chief Economist's job for Chalmers at a big 4 bank when he gets kicked out at the next election.
Sinecures await...
A golden parachute and a golden handshake, we should all be politicians
Exactly.
Yeah I'm sure Dr Jim will have a nice plump salary from the banks or more likely their consultancies once his poor attempt at a Keating cosplay is over.
ACCC is a toothless tiger. Unfortunately Corporate interests take precedence over the interests of the people. Australian political class sold out the average Australian a long time ago.
No the accc is corrupt as well
Absolutely full of it , but where do they come from? They come from workplaces dedicates…it self serving industry now , there highly paid and everywhere, every industry
Double-edged sword .
They may think they have millions of dollars now, but if the economy collapses like Africa 99% of those millionaires will be just as poor as the poor are today .
Their children will suffer as well as their grandchildren and so on .
Those that may still be worth millions wouldn't want to live in Australia and would choose to live in another country, but what country in their right mind would grant citizenship to someone that has created an economic collapse of a whole country.
It's borderline of someone with serious mental illness/addiction to power in an extremely unhealthy way.
Anyone who shows these traits is not one to make any ethical decisions on how anything should be operated or run.
Screw being at the football on weekends, we should all be at Parliament houses around the nation demanding early elections and threatening to install a citizens initiated Referendum
Good luck with that now mate. After Covid, Aussies now are mindless believes whatever they're told by the govt and does whatever the govt tells em sheeple.
Give them beer and circuses ….. 🏉 🍻 🥴
You beat me to it. 😅@@J_L45
Agree 100%.
@@J_L45 Yep! Exactly!
Corruption on this scale is a snowball. It's self-perpetuating, it replicates until it destroys the system that enabled it.
Yep.
Don't vote for the uniparty
@@LucienCanon One Nation.
@@briananderson7285or libertarian or citizens party
@sonjakozman1699 The Citizens party are the behind the scenes legends of Australia politics.
Our politicians are honouring their political donations . Firstly shut down accc and anticorruption board. Get ready for real tough time's till we get good honest leadership. Unfortunately anyone honest will get dismissed by the high profiting politicians with criminal dealings behind the door.
It’s bigger than Ben-Her , insurance, law-firms, supper , all honouring contributions to labour in direct contradiction to what they stand for, follow the contributions and the answers are clear , there all in it together and have control and that includes big tech , main-stream .
Just like they did to B Browns sensible Royalties, all the same since 1983
@@mylimomelbourne4757 not just Labor, Liberals are not any better ...they are all corrupt
ScoMo ran off to USA to pocket his cut of $360bil AUKUS nuke subs? And, no refund if US don't deliver the subs? Aussies are robbed 3 lifetime of $$$. USA is Australia's biggest national security threat?
The big two parties are essentially not working in the interest of Australians. Mass media do not challenge these things because the ABC would not dare question Labor policies, and the remaining media companies are private companies that have vested interests. All policies by the big two parties support big business (immigration, reduced competition, etc.). In the end, Australian citizens suffer. Keep up the good work, Leith! Have you thought of becoming a politician (I would vote for you)? 😂
ABC is the ALP media wing. And with Albo, nothing more than Marxist agitators 🤷♂️
Australian's have to stop voting for the uniparty, vote One Nation an give Australia a fighting chance.
@@briananderson7285 If everyone who thought a vote for One Nation is a wasted vote actually did vote for One Nation, they'd have a fighting chance
@missinterpreted4923 Very true that, but Australian's treat politics as a team sport ,,,modern day bread and circus.
All the media that isn't ABC is owned by a single billionaire family.
If that isn't corruption at its highest point, what is?
What's more funny/sad is that Australians let this happen over the course of now nearly 80 years, and they wake up now and wonder why it's turning to shit.
Didn't matter when they were middle-class and earning enough for their wife to go out for coffee and to afford a friday-night beer, but now they cant have those luxuries it's a problem.
This is the nature of the average person, they dont give a shit until it affects them.
Don't forget, I believe Jim charmers is in wef
What’s the point of the ACCC if their recommendations are overruled,
Another waste of the tax payers money
It was set up as an illusion of power .
It investigates nothing and does nothing
Because the banks & gov't's wants Australia to go Cashless, ANZ have just closed katoomba branch, bank's closing, coercing Australians to use card, gouge Australians for fees & charges. Wake up Australia Duopoly on the move
Yes, one of the biggest scams with this cashless push is being charged a surcharge to use your card... You would think that cashless transactions have less admin time (counting, reconciling, time spent at counter...) $ucking people dry at every opportunity...
@@ponzitizen Thanks for your reply, this move to Cashless goes deeper than banks fees, there will come a time when gov't's have complete control esp. of the Welfare system & start scrutinising pensioners/unemployed etc accounts, 'no increase this year because...', no cash in hand to pay tradies, we all know that corruption/fraud starts in Canberra & corporations, politicians are after the people without power who cannot fight back
Australians are too lazy to care. They are happy to pay more for convenience.
I was charged $2.75 for using cash to pay $50 phone bill.
@@urszulavon9400 At the post office?
Its like that almost globally. Aussies are just starting to realise
Essentially, it shows how Western governments are controlled by a 'higher power' - all making the same unpopular decisions at the same time, all justifying their decisions based on esoteric concepts like diversity, inclusivity, 'climate change' etc.
Are they though?
You sound like youre trying to excuse it. There is no excuse for this shit.
@@Shadow1986 Most still cling to their illusions which they dont want destroyed. Unless they wake up it will be too late for the country and Aust will be fighting another Collective West war for the US Empire. While the US retreats to its own borders dont expect them to support Aust they run when things gets too hot. China is not Afganistan!
@@Johnnyrock-23245 They aren't. Tradies can afford a beer on a friday night and to fill the truck up for work.
Everyone else can get stuffed. That's just how the 'aussies' are.
Became a second/third class citizen in this country when I pointed out to the tradies who were in unions that their unions were sending their money to a politicial party and they shrugged and said that was fine.
That was the beginning of understanding that the tradies were captured so there was no hope, no one cares about the mums at home raising kids or the disabled people, only the money making tradies, multi-millionaire land owners/rate payers and billionaire companies seem to matter to any of the mentioned groups.
With American bases here we are part of a corporate empire.
Every elected person should wear the brown bag sponsorship logo
Cashless economy would end the brown bag donations 🤣.
@Eric-kn4yn Digital id, cashless is exactly what the banks an government want ,control over all payments.
sounds like the land and environment court....If you have the enough money and the right political influence, you could build a housing development or hotel in a Koala sanctuary.
The amountn of market concentration in Australia is depressing. It was highlighted with the supermarket senate enquiry and harsh punishment was touted while the heat was on. In the end all we got was a voluntary code of conduct.
No wonder small businesses are going bust..
Government nees to reduce immigration immediately to reduce the massive strain on the housing sector.
Who will the banks lend their Monopoly money too?
The next boomer I hear mention 17% is going to lose some teeth.
Yep, 17% for a few months. On a house that may have been 2.5 to 3X income.
Pitty people you never paid 17% actually think they have to right to comment. Most likely not even born Everything doubled in price if not tripped in the 1970s then we were hit with interest rates up to 22% it was not of several months it was years.in the 80s
Our government is a corporatocracy.
Well someone just secured their next job after being leaving government.
As a 30 year account holder of metway now Suncorp is walking away as I will not deal with the parasite who run anz.
What- your just realising this ??
This used to be one hell of a good country, hope one day we can get back to what we once had.
Pity the ACCC cant investigate the government for conflicts of interest , or incompetence, renewables appears to be an absolute farce in many ways , Mr Albanese tells us what a good job he`s doing , but take a walk through Melbourne and look at how many shops are either now closed or or closing , i have no doubt Sydney will be the same too , does anyone think a 250 dollar tax handout or 300 dollar electricity reduction will make any real diffence to the cost of living in most cases …… too little too late .
Talking to my next door neighbour a few days ago , he`s paying 660 dollars a week rent on a 60 year old 3 bedroom house in Melbourne north working mans suburb , good luck to anyone trying to buy a house on a working mans wage. .
If politicians claims are that these tiny band aid handouts are going to make any real difference , imo that would be worthy of an ACCC investigation.
People living in tents and cars and caravan parks because they cannot put a roof over their heads !
In the past years in Australia we have had political parties and politicians in their term do almost nothing , basically they where playing a caretaker role , and the country more or less ran itself .
But the lucky country in recent years seems to have become the not so lucky country , and one would have to ask , has Albo and his minions made us worse off ?
I`m just an average Aussie that worked , put bread and butter on the table , but i think these jokers we have now running the country have lost the plot.
Could the ACCC investigate the running of our country ?
Electricity will be cheaper in terms of renewables. Most if not all energy price hikes are due to fossil fuels. Canberra saw a reduction in electricity prices recently because it uses renewables mainly. Most of Australia is not like that.
Disgrace.
I totally agree with Leith's analysis on this decision and the total disregard from Jim Chalmers that it doesnt impact competition.
The treasurer has done some questionable actions during his time. Hiding the findings of ASIC
Biggest share holder of Australia’s Big 4 is the Criminal Cartel Investment Corporation Black Rock … Larry Fink … CEO Banks ter
I spell interference for profit of overseas interests 🤔 Backrock and vanguard
The fundamental reason we have deadheads running Australia is the political party system. Gone are the days when candidates are elected on technical ability and academic qualifications. Today, the only metric that matters is the ability to win the seat and the dedication to one of the various political factions. As such, this country is doomed to churn over the government after every election while the electors search in vain for any creditable leadership.
And everyone understands why we're losing faith in out leader
😢😢 yess Australia 🇦🇺 is like living nightmare 😮 there is now competition we delegated the banking sector in 80s still remember Paul Keating saying it would be good for every one. Think both parties are own buy the big end of town 🤔 lets be honest 😮 Australia should be the riches and best country in the world 🌎 why ant we its not bad policies its are courpt political party who are own buy the big end of twon 😅😅
So Leithvo , whats it called when gov and corporations act together against the people .
Australia
Tree-Son
Fascism
Corruption Incorporated, that's what Australia is now!😢
The biggest anti competitive organization in Australia is the Federal government. Take away income taxes and GST from the Federal govt and give to the State governments, then state governments compete with each other.
Corporate junta state so how do we get out of it
Dumbocracy
Cmon Leith, you only found this out now?
Australia may as well be renamed as the AuSSR, with the likes of Harry Trigouboff and John Setka having a tight leash on our politicians
Nah, but the WEF does.
You may also want to look at APRA’s long term policy of increasing regulations around prudential standards so apparently protect deposit holders whilst squeezing small credit unions force mergers, and hence less choice for the public. 10 years ago there were over 100 financial institutions now it’s less than 50 and heading lower. Regulatory bodies would rather supervise a few large ADI’s than many
Vote one Nation 🙏
I closed my Suncorp accounts on Friday. ANZ bank are a bunch of thieves.
We the people of Australia come first NOT AMERICAN'S.
Not a usual fan of 2GB , Yes more competition, great conversation. Might listen in more to such discussions
Higher Interest rates not only impact the 1/3 of Australians who have a mortgage but they also impact the cash flow of all businesses (big and small) who are leveraged. This means less demand for workers and more insolvencies. The economy is taking longer than normal to adjust to monetary policy due to demographics (record numbets of cashed up baby boomers retiring).
As an old Suncorp customer, it was evident to most many months ago!
I am 71 and had many business over the years government taxes small business into extinction…..
My experience also
The Commonwealth Bank of Australia ? Or the commonwealth of America.??????????????????? .
If it’s not planned they need to change what makes it look like it is.
Don’t forget the global financial crisis when the concentration of banks made them ‘too big to fail’. This is a as big a risk as the climate crisis yet the main parties do nothing. The ALP and LNP have been captured by the Banking Execs.
Lets go!As part of the protest establish a tent embassy Parliament House.There is room for our protest there too.Lets hope we don't have stay as long as the Aboriginal tent embassy - shouldn't if people vote right this time.
This is the situation world wide,some Governments theatre of smokes and mirrors better than others.The creator of Monopoly a true futurist.
Yep and the lobbyists contributed funds to them but who needs the funds more, they both want control but which ones more desperate ? Workplace delicates have the right to inform but don’t, Why ? They support the ones who keep them there, a.b.c support each other and labour and migration
How many Aussie parliamentarians can reconcile their credit card? Make it easier: just ask them what is credit card reconciliation!😂😂😂
Well, the pollies won’t put constants on negative gearing, because it would hurt themselves.
🙏👍😀hopefully I will get higher dividends 👍to pay all my out of control inflation bills 😢
SHINE BRIGHT GUYS!!💥🙌💪
While we have polypticians working for the COMMOMWEALTH OF AUSTRALIA Corporation, instead of the citizens. We have no hope.
What about the absolute political disaster and disgraceful handling of the Pep11 exploration approval for exploration for Natural Gas by the Albanese and Morrison since censured governments over the Pep11 exploration approval, what hope has Australia got when our companys are treated with such contempt by our so called leaders !!!!
I disagree that it's a corporate oligarchy. I think Kleptocracy is a more appropriate term to describe what we have today. Especially on the subject of competition, the media isn't really covering what the government just did to the vaping industry. They wiped out hundreds of medium and small businesses to hand over exclusive rights to Phillip Morris to distribute vapes only at Pharmacies.
It's also the reason for the housing crisis. More people = more revenue for corporations.
Tax revenue + economic "growth" via bus loads of smelly people instead of innovation, reducing regulation and new manufacturing.
We need to get the major parties out of power. This countrys economy is a joke.
This discussion is just another example of beating around the bush. Being university trained as an economist, he probably is aware of the following facts. The corporate entity named The Australian Government, was shoved onto Australia by the Whitlam government, using maritime law. He and his commo mates, all Maritime lawyers, connived to deny Australians of a Constitutional Monarchy and constitutional money. We now have a bureaucracy which can borrow paper money without restraint, to pay for their spending bills, underhandedly creating money out of thin air, destroying the purchasing power thereof. We've lost control of our government, set adrift without the protections of our Common Law Constitution of the Commonwealth of Australia. It was designed to protect us against government bureaucrats ruling over us. We are now subjected to the Australian Constitution, a copyrighted, near perfect facsimile of the original Constitution, the latest version being the constitution of the Australian Government, the business name of a corporation registered in the United States, on the United States Securities and Exchange Commission. We're voting for employees of that business and have been robbed of our resources such as gas, by that and other foreign corporations, using their scrip called the dollar. Unbelievable yet true
And Australians are so dumb and ignorant to the facts that a perfect explanation of the reality of our government as you just wrote gets no thumbs up or replies after a story like this.
God help us.
Sounds like the treasures job after politics is an ANZ consultant
It's exactly as outlined.
Albanese is a drunk too, in case you haven't noticed.
It’s actually worse than that. Way worse. I would rather a drunk prime minister than what we have
He's not drunk, he just misread the warnings on the pharmaceuticals
@@nottenvironmental6208albo a 💩 in a suit
Like Yeltsin XD
LEITHO are you descovering this now??
Who in government gets paid by the WEF is what I would like to know.
100% true!
A gas reservation with a locked price of $3 a gigajoule is needed; It is a an urgent matter of national security.
The banks need as much control as possible to mange the coming banking crisis their system will always create.
It's so true. The most offensive insult is the Energy Theft committed on the Australian population. I hope you will investigate into why in a Saudi-rich gas nation as Australia, Australians are enslaved by spine-breaking prices? Where exactly is that wealth and who is responsible of pissing it away into their own wallets? Have a close gander. It will put you in tears mate.
One nation
Thank you for speaking up
There needs to be a separation of powers of corporate Australia and politicians. Politicians are acting in their own self interests, now and for the future when they want to switch from politics to private.
Vanguard / blackrock is the largest shareholder in all our banks, supermarkets, insurance, media and pharmaceutical companies. It's all one big monopoly what's discussed here is small scale
The flow of power comes from Banks+Corporate Investment+Government = totally symbiotic, they have no option but to protect themselves. We witnessed this relationship in action with corporate supported Voice referendum.
Yes. becoming more like US run by big Corps
You need to educate others with this knowledge to all those you connect with , friends, family, and work colleagues .
The sooner we push for change, the better off we ALL are
The ACCC has recently been shown to be failing. Look up the recent inquiry and do your homework Luke 😒
The Labor Party needs to be Brutally Honest and not make everyone happy if they want to stay in Position.
The price of energy is killing business and manufacturing in Australia. Blame the labor party for bowing down to the greens.
Do you think this is a weakness of democracy? Corporate interests are more poised and incentivised to lobby government compared with individuals. I think the maturity of democracy, resulting in a 2 party system, evidenced in many democracies globally, means the parties stop representing the individuals and begin to represent larger interests. Should we admit this weakness and try to resolve it or will we let the system collapse before we act?
“Lobbying” is corruption but Americans sanitised the word and made corruption legal by calling it “Lobbying”!
there will only be the 4 Pillars left in 10yrs
Australia’s “wealth” Gini Coefficient is .61, signifying considerable asset inequality, which seems to support the existence of corporate socialism and concentrated power of elites.
All banks in Australia are American owned and controlled since 2010 when Julia Gillard got bailout loans for them from the US Federal Reserve Bank and had to give the US Treasury equity in the banks to the value of the loans.
Mate your content is fantastic
If you are genuinely Australian, then the main 'clauses' in our Nat'l Anthem are for you. Since its obvious you havent realised those clauses promises Us certain things, the big trouble (brewing like an underfoot caldera)is the Govt sector(military excluded) have and continue to make those certain things more uncertain by the day.
How is that consistent with making "this Commonwealth of Ours renown throughout all the lands"!
(2nd verse adv aust fair)
Dont forget that one member State of the C'wealth is absent of checks & balances entirely, as a result Our fellow C'Wealth Citizens face great disadvantage (highly discrminatory) every day since 1922!
National Anthem?
WTF 😳
@@billybloggs3214 Well Thats Fantastic!
Yes this true this should not have happened
I'll be buying more bank shares so I can partake of the profits. Pretty simple.
Government over regulation also stifles competition and innovation.
CBDC … CENTRAL BANK DIGITAL CURRENCY ON THE WAY BANKS WILL MAKE A FORTUNE OUT OF THE NEW MONETARY SYSTEM
Chalmers obviously needs to be investigated. And aussies need to move their funds to Aussie/peoples banks. There are a few around.
are there 2 ACCCs?
You could argue that but the ACCC is fairly insensitive to the struggling small business sector.The oligarchs have power.
I read that inflation all around the world has been caused by govt deficit spending all around the world. Increases the money supply or somethng like that.
I am curious about the amount sum of the donation that facilitated the further erosion of competitive balance
Your expert reckons that one bank buying another bank - which only has 2.4% market share is going to reduce competition and push-up interest rates. It ain’t exactly a major acquisition
how do you feel about being ruled by a corporate oligarchy? have you heard of 'democracy?'
Australians have loved having the worse airline monopoly in the world for years and moan about the fact there are four main plus say another six banks .
Most of western style democracy is oligarchs style government, where government practically works on behalf of the top rich people.
Albo works for foreign corporations, not Australians
Which party keeps bailing out banks??
I had a co worker tell me his rent went from 420 to 800 from 2021 till now