Our current financial crisis of rising interest rates and overall cost of living increase demonstrates the way capitalism is out of control. Many statistics are revealing the rich are getting richer (and the super-rich are ruling the world) and large corporations, especially in mining, banking and food supply are making record profits.
How does the capitalist system try to rein-in inflation? Well, in Australia the Reserve Bank raises interest rates; that particularly affects the average person, be it through mortgages, rent, or living costs.
Wages, which have been stagnant for nine (Coalition government) years, no longer meet the workers’ needs.
If the Reserve Bank’s only hammer is to belt the general population with rate rises, why doesn’t our democratically elected government step in to charge the price gouging corporations who are taking advantage of the situation, and apply a ‘super profit’ tax?
Surely if we look at previous years’ profits of companies and can see a trend that indicates record profits year-on-year, then some equity should apply; so that not only shareholders, but the general community, either gets a share or at least aren’t ripped off.
Fuel at the bowser is a classic example. From December 2014 to April 2021 the barrel price was below $62, from January 2022 to December 2022 it sharply rose to $116 then quickly fell back to below the ten-year average of $78. The bowser price during those ten years has gone up and up, not at all indicative of the barrel market price. What a ripoff!
For four decades The Echo has printed the stories some people loved, some people hated, and some pretended not to read. If you want us to keep telling the truth, the real truth, not the sugar-coated version. We’ll need your support to keep the presses rolling. 
