Greg Jericho
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grogsgamut.bsky.social
Greg Jericho
@grogsgamut.bsky.social
31K followers 2.1K following 6.5K posts
Chief Economist at @australiainstitute.org.au
Columnist on economics and politics for Guardian Australia.
Dollars & Sense podcast https://australiainstitute.org.au/news/category/podcasts/dollars-sense/
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grogsgamut.bsky.social
Gough raised unemployment benefits to their highest level relative to poverty - then Fraser (and his treasurer John Howard) fucked it up as soon as they could.

Hawke/Keating repaired some of the damage... then Howard fucked it up for good
thepoint.com.au/opinions/251...
Graph showing unemployment benefits relative to poverty
November 11, 2025 at 12:45 AM
grogsgamut.bsky.social
For some context, here's a log scale graph for those who love them (who doesn't!)
Each line on the Y axis is a doubling of the price.

13 months after his election the world oil price was 7 times higher than in Dec 1972.

The world oil price is now only 5 times higher than it was in Jan 1974
World oil price: 1960-2025 log scale.
November 11, 2025 at 12:32 AM
grogsgamut.bsky.social
The increase in oil prices in 1973 was like nothing ever seen before or since
Chart showing annual oil price growth - it hit 525% in Jan 1974. The next highest during 1979 was 218%
November 11, 2025 at 12:01 AM
grogsgamut.bsky.social
A lot of people when talking about Gough's economic record seriously underplay how beyond comprehension the 1973 Oil Crisis was.

thepoint.com.au/opinions/251...
Chart showing the world oil price Jan 1960 - US$1.63bbl Dec 1972 - US$1.87bbl Jan 1974 - US$13.00bbl
November 10, 2025 at 11:41 PM
grogsgamut.bsky.social
A reminder - governments *can* do things.
A progressive government *should* do things.
A better country is possible.
Governments *choose* what they do (or do not do).
#ThePoint #Gough
thepoint.com.au/opinions/251...
Why not have a racial discrimination act that put the final stake through the heart of the White Australia policy, why not have no-fault divorce, why not end conscription, why not recognise China, why not ban sporting teams from apartheid South Africa, why not abolish the death penalty, why not introduce free healthcare, why not ratify the World Heritage Convention, why not have equal pay for women and welfare assistance for single mothers and maternity leave for Commonwealth employees, why not have free tertiary education, why not have a Law Reform Commission, a National Gallery, and a National Council for the Arts, why not recognise Indigenous land rights, why not lower the voting age to 18, why not ditch Imperial Honors and why not have a national anthem?
November 10, 2025 at 10:37 PM
grogsgamut.bsky.social
On #ThePoint today we look back 50 years to The Dismissal of Gough - from those who knew him, worked with him, and those like @amyremeikis.bsky.social and me who see a path to follow
thepoint.com.au
Screenshot of The Point
November 10, 2025 at 10:33 PM
grogsgamut.bsky.social
Pretty sure @willdalrymple.bsky.social would say because it is also Anita Anand's podcast!
The Age's weird link to a story about William Dalrymple: Why best-selling author William Dalrymple’s history podcast is such an enormous hit
November 10, 2025 at 12:06 AM
grogsgamut.bsky.social
"*warns* of intense competition"

Your regular reminder that those who cheer capitalism actually hate a free market, and want a rigged one.
AFR headline: AMZ's cash profit slumps 14pc to $5.8b, warns of intense competition
November 9, 2025 at 9:54 PM
grogsgamut.bsky.social
Lol at the mods
My Bluesky post saying "Out Cheney; In Mamdani A Good Day" Was tagged as "rude"
November 6, 2025 at 5:03 AM
grogsgamut.bsky.social
The RBA keeps saying there is excess demand and the pick-up in household spending suggests a rick from cutting rates. I suggest, nope.
www.theguardian.com/business/gro...
Chart showing that total household spending remains below pre-pandemic trend levels and also isn't growing any faster than it did back then
November 5, 2025 at 10:17 PM
grogsgamut.bsky.social
The RBA's estimates for wages and inflation growth suggest were are going to have to wait a very, very long time till real wages recover
www.theguardian.com/business/gro...
Chart showing that the RBA estimates that by the end of 2027 real wages will only be at the value they were in Dec 2011
November 5, 2025 at 10:14 PM
grogsgamut.bsky.social
The LNP front bench not exactly paying Ley much attention. Cracker of a shot by @mikepbowers.bsky.social #PointLive

live.thepoint.com.au
Opposition Leader Sussan Ley during question time in the house of representatives in Parliament House, Canberra this afternoon
November 4, 2025 at 4:54 AM
grogsgamut.bsky.social
10 year anniversary to this shining moment of Australian journalism.
Article form the Herald Sun 4 Nov 2015: "Melbourne Cup 2015: Overheard in the women’s toilets WHAT goes on tour stays on tour right? Well it did until now. These are the top 10 things we overheard in the toilets at the Melbourne Cup."
November 4, 2025 at 2:17 AM
grogsgamut.bsky.social
Me on #PointLive
- The RBA is more scared by higher inflation than higher unemployment
live.thepoint.com.au
Charts showing how market expectation for a rate cut rose when unemployment hit 4.5% but completely disappeared when CPI hit 3.2%
November 3, 2025 at 11:18 PM
grogsgamut.bsky.social
He scored from here #NFL
November 2, 2025 at 10:14 PM
grogsgamut.bsky.social
November 2, 2025 at 10:13 PM
grogsgamut.bsky.social
So the richest under 40 list shows that the richest couple saw their wealth increase 32%.

Of course, that is all unrealised capital gains, but apparently that doesn't really exist and that's why we could not tax it in superannuation accounts.
A list of people who should all be taxed much more than they are Melanie Perkins & Cliff Obrecht YoY change 32% Wealth $18.46b chevron_right 2 Ed Craven YoY change -3% Wealth $4.61b chevron_right 3 James Ferguson & Robbie Ferguson YoY change -1% Wealth $1.69b chevron_right 4 Adrian Portelli YoY change 8% Wealth $1.41b chevron_right 5 Jack Zhang YoY change -2% Wealth $1.31b chevron_right 6 Nick Molnar YoY change 4% Wealth $1.19b chevron_right 7 Andrew Tulloch YoY change N/A Wealth $953m chevron_right 8 Paul Stovell YoY change 35% Wealth $637m chevron_right 9 Jessica Sepel & Dean Steingold YoY change 6% Wealth $486m chevron_right 10 Nik Mirkovic YoY change 1% Wealth $470m
October 30, 2025 at 11:12 PM
grogsgamut.bsky.social
I pity the UNSW students who have to put up with drivel like this.

(My favourite was his assertion that Australia is on the wrong side of the Laffer curve, which he "proves" by linking to an AFR article showing Australia is bang in the middle of the OECD for taxing personal income)
Sorry kids, there are 2 reasons death taxes will backfire Taxing the dead will hurt hard work, productivity and investment among the living and won’t raise as much money as expected, instead encouraging people to change their affairs while alive. Mark Humphery-JennerFinance academic
October 30, 2025 at 10:44 PM
grogsgamut.bsky.social
Bridget McKenzie subtly conveying her disagreement with statements made by the acting Leader of the Government in the Senate.
live.thepoint.com.au
October 30, 2025 at 3:32 AM
grogsgamut.bsky.social
After lunch, Saul Eslake gets things going by talking about tax reform #RevenueSummit
October 29, 2025 at 1:33 AM
grogsgamut.bsky.social
The ACTU’s Liam O’Brien talking about the rort that is the PRRT #RevenueSummit
October 28, 2025 at 11:47 PM
grogsgamut.bsky.social
She points out to meet our carbon reduction targets we need it basically double the cuts we’re currently doing
October 28, 2025 at 11:25 PM
grogsgamut.bsky.social
Now Dr Ingrid Burford talking on “Carbon Tax: The Price of Doing Nothing” #RevenueSummit
October 28, 2025 at 11:22 PM
grogsgamut.bsky.social
. @richarddenniss.bsky.social and Prof Dixon talking about how the media and other love to talk up the benefits of a tax cut but not so much the benefits of investing in free child care
October 28, 2025 at 11:07 PM
grogsgamut.bsky.social
Now Prof Janine Dixon talking about research the Productivity Commission commissioned that showed cutting company tax does not fuel economic growth (or more revenue!) (oops!) #RevenueSummit
October 28, 2025 at 10:45 PM