https://www.abc.net.au/news/2026-02-23/reducing-inequality-means-taxing-capital-...

Reducing inequality means taxing capital more — including inheritances

By Alan Kohler, Feb 23rd.


....

Well....yes, Alan - if you insist currency-issuing governments must tax or borrow in order to spend.

Meanwhile Angus Taylor is insisting that "taxing housing reduces supply", while sneakily ignoring the intergenerational inequity issue, ie, cashed-up  tax-advantaged, rent-seeking investors who can out-compete first-home buyers in an overpriced housing market.

Prof. Steve Keen explains the new world order is already here.


"The 'new world order' phase begins"

https://www.youtube.com/watch?v=WH-yTE26kOE

........

Note the first two replies to the video:

1. “Behold. The festering carcass of American rot shoved into an ill-fitting suit: the sleaze of a conman, the cowardice of a draft dodger, the gluttony of a parasite, the racism of a Klansman, the sexism of a back-alley creep, the ignorance of a bar-stool drunk, and the greed of a hedge-fund ghoul - all spray-painted orange and paraded like a prize hog at a county fair. Not a president. Not even a man. Just the diseased distillation of everything this country swears it isn't but always has been - arrogance dressed up as exceptionalism, stupidity passed off as common sense, cruelty sold as toughness, greed exalted as ambition, and corruption worshipped like gospel. It is America's shadow made flesh, a rotting pumpkin idol proving that when a nation kneels before money, power, and spite, it doesn't just lose its soul - it runs out this bloated obscenity and calls it a leader.”
― Oliver Kornetzke

2. Remanufacturing seems a good thing for USA but today with AI and robots, it would not create a lot of good paying jobs.   You just have to look in China, they are the best at manufacturing electric cars because their factories are fully automated with robots.  There are almost no workers in those factories.   So if an occidental company really wants to compete against China factories then it will have no other choice than building a fully automated factory too.   Therefore it will never bring back all the millions jobs lost to China and other south asian countries. Be ready for a painful transition toward the new world.

.....
 
I googled 'Oliver Kornetzke'

Oliver Kornetzke is an American writer whose commentary of  US and global politics is known for its raw honesty. 

Ouch.....




 

thegreatdivide wrote on Feb 28^th, 2026 at 10:47am:



Yep - Labor is looking at your inheritance with greedy Marxist eyes.

Two articles following mainstream Neoclassical economics, one unaware of the other:

(GEN)

“We’ll pay it off fast”: Trump empty promise as debt hits $36 trillion

America’s national debt has exploded past $36 trillion — and it’s still growing fast. Donald Trump once promised to bring it under control, but like every administration before and after, the numbers only went up. This video breaks down why that keeps happening — and who actually profits from it. From Wall Street to government insiders, the system is designed to keep the debt growing. And you’re the one paying for it through inflation, interest, and lost purchasing power.

and

(Economics Explained)

Europe has more people than the US - so why is it stagnating?

Europe remains one of the richest regions in the world, but economists are warning that its long-term future is under threat. From weak innovation and high energy costs to immigration pressures and industrial decline, several major problems are dragging growth down. This video explores why Europe is falling behind the U.S. — and whether it can still turn things around.


Of course the currency-issuing US government is not constrained by money and debt; the US debt could balloon to $100 trillion without causing hyperinflation or higher unemployment.

Meanwhile the EU is surrerijg low growth  causedbby the ECB which is forcing EU states to 'balance their budgets'.....while the EU has higher unemployment and lower GDP growth than the US.

Apr 21, 2026        Peta Credlin


Former treasurer Peter Costello criticises the Labor government for plunging Australia into a trillion dollars of debt, describing the situation as “heartbreaking”.

“It’s heartbreaking to have worked so hard and to have got Australia into such a good position … Australia stood out, and we were admired around the world,” Mr Costello told Sky News host Peta Credlin.

“Rather than this being a gift to generations of future Australians, we’ve now borrowed a trillion dollars.”

Prof. Steve Keen nails it again:

Beating Inflation

Why central banks have no idea about handling an energy crisis.

Steve analyzes the 2026 return of double-digit inflation, characterizing it as a structural cost-push crisis rather than the result of excess consumer demand.

Keen argues that with Brent crude hitting $100 a barrel due to the Strait of Hormuz blockade, energy costs have become a fundamental driver of prices that central bank interest rate hikes are fundamentally powerless to resolve. He delivers a scathing critique of current monetary policy, suggesting that raising rates acts as a "debt tax" that exacerbates the real income shock for households while failing to address the underlying energy supply bottlenecks.

To truly "beat" this inflation, he advocates for moving beyond interest rate orthodoxy toward direct energy price interventions and an accelerated transition to energy sovereignty to decouple the economy from global fossil fuel volatility.