Wednesday, March 2
Media File #4
Please click here to see article
Talk of carbon tax already pushing up electricity prices
1 March 2011, SMH
This article is talking about the carbon tax plan. Australia's biggest electricity users are complaining about the fact that electricity prices have risen by up to 4% since the announcement. The carbon tax hasn't even been implemented yet. This will also soon affect households and in turn slow spending and economic growth. Hopefully that will be balanced out by what the government spends future taxes on. (if the scheme gets through parliament) In the mean time I guess people will have to put up with the extra price rise in electricity. It seems that nothing good can come of the Carbon Tax and the majority of the Australian public disagrees with it. The question in my mind is that if nobody agrees with the Carbon Tax then why implement it, it is not a good thing to do if they want to with the next election. In commerce we have been talking about the economic cycle and this Carbon Tax is putting a strain on the taxation sector.
Talk of carbon tax already pushing up electricity prices
1 March 2011, SMH
This article is talking about the carbon tax plan. Australia's biggest electricity users are complaining about the fact that electricity prices have risen by up to 4% since the announcement. The carbon tax hasn't even been implemented yet. This will also soon affect households and in turn slow spending and economic growth. Hopefully that will be balanced out by what the government spends future taxes on. (if the scheme gets through parliament) In the mean time I guess people will have to put up with the extra price rise in electricity. It seems that nothing good can come of the Carbon Tax and the majority of the Australian public disagrees with it. The question in my mind is that if nobody agrees with the Carbon Tax then why implement it, it is not a good thing to do if they want to with the next election. In commerce we have been talking about the economic cycle and this Carbon Tax is putting a strain on the taxation sector.
Media File #3
Please click here to see the article
This article is touching on the elaborate price tag for the recent Queensland floods; at least 5billion dollars. To help reduce this huge deficit the Gillard government has devised a temporary tax rise and budget cuts. This will slow the economy because there will be less spending by consumers with more taxes and economic leakages like government taxation. On top of all that basic fruit item costs will rise as a result of damaged crops which will also slow economic growth. This shows that a natural disaster can damage the economy in some cases as much as a dramatic interest rate rise. The insurance companies will suffer the most from all this because they are billions of dollars to pay off to all the suffering holders; as a result premiums will also go up for unaffected insurance holders. This is more money for consumers to have to pay and further economic decline.
Queensland estimates flood bill to top $5b
28 Jan 2011, SMH
This article is touching on the elaborate price tag for the recent Queensland floods; at least 5billion dollars. To help reduce this huge deficit the Gillard government has devised a temporary tax rise and budget cuts. This will slow the economy because there will be less spending by consumers with more taxes and economic leakages like government taxation. On top of all that basic fruit item costs will rise as a result of damaged crops which will also slow economic growth. This shows that a natural disaster can damage the economy in some cases as much as a dramatic interest rate rise. The insurance companies will suffer the most from all this because they are billions of dollars to pay off to all the suffering holders; as a result premiums will also go up for unaffected insurance holders. This is more money for consumers to have to pay and further economic decline.
Media File #2
Feb 21, 2011 Sydney Morning Herald
This article is talking about the fact that Egypt has closed its Stock Stock market due to the government issues in their country. This will mean that any publicly listed companies will not be trading and billions of dollars will be lost as a direct result. I believe that anger among the companies will spark and this may cause more problems than there already are. This relates to what we have been working on in commerce because it is talking about the economic cycle; and a part of it is dysfunctional at the moment. When part of the economic cycle is dysfunctional it cripples other parts, it shows that everything is linked and it almost causes a domino effect. If this goes on for too long and even now; Egypt has a long road to recovery, if they do. Investors are in doubt and the economy has been put on hold; it will be a slow and steady process to a recovery.
Tuesday, March 1
Media File #1
Please click here to view the article
This article relates to what we have been learning about the economic cycle. The article is explaining how crude metal and oil prices have risen as a result of the revolt in Libya. They have stopped oil productions causing the economy to contract because of falling levels of production (output). This is a bad thing because it means that no money is being injected into the economy and as a result it is not growing. Oil is one of the biggest industries in Libya and now it's production has been put on hold. This also affects other countries indirectly because less oil will be sold to them and fuel prices especially will increase, making the public quite unhappy. Saudi Arabia, said that it would increase oil production to make up for the lost production in Libya, if necessary. Saudi Arabia currently produces about 8.5 million barrels of oil a day and have the capacity to produce more than 12 million barrels a day. I find it interesting that the stopped production in Libya has pushed up the prices of so many raw materials like gold, silver and oil and affected so many other economies
Oil prices rise on news from Libya
25 Feb 2011, Sydney Morning HeraldThis article relates to what we have been learning about the economic cycle. The article is explaining how crude metal and oil prices have risen as a result of the revolt in Libya. They have stopped oil productions causing the economy to contract because of falling levels of production (output). This is a bad thing because it means that no money is being injected into the economy and as a result it is not growing. Oil is one of the biggest industries in Libya and now it's production has been put on hold. This also affects other countries indirectly because less oil will be sold to them and fuel prices especially will increase, making the public quite unhappy. Saudi Arabia, said that it would increase oil production to make up for the lost production in Libya, if necessary. Saudi Arabia currently produces about 8.5 million barrels of oil a day and have the capacity to produce more than 12 million barrels a day. I find it interesting that the stopped production in Libya has pushed up the prices of so many raw materials like gold, silver and oil and affected so many other economies
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