By Andrew Mackinnon
Assets – Loans receivable – As at 30th June, 2022
Commonwealth Bank of Australia – $878.9 billion AUD
Westpac Banking Corporation – $739.6 billion AUD
National Australia Bank – $680.4 billion AUD
Tag Archives: interest
How to create jobs in Australia…
By Andrew Mackinnon
Last updated: 24th November, 2021
The way to create jobs in Australia is not for the Australian government to predominantly spend billions of dollars on infrastructure projects, thereby creating a disproportionately small number of constructions jobs and associated administration, accounting, management and other jobs, while delivering excessive and undeserved super profits to the entities which deliver the infrastructure projects, such as Australian companies, all at the expense of taxpaying Australian citizens.
This is why the Australian economy is not working…
By Andrew Mackinnon
Last updated: 1st July, 2022
The economy in Australia was going very badly last year before the bushfires started that the government lit to distract attention away from the failing economy and before the latest Coronavirus hysteria to provide a scapegoat onto which to project the blame for the failing economies all around the world. In Australia, the banks create money when they lend and then charge interest on it. This is the same in most countries around the world. However, the citizenry is waking up to this scam and is therefore reluctant to borrow from the banks. This has caused the size of the money supply in Australia to decrease since money is created when the banks lend and since money is destroyed when principal lent by the banks is repaid. As a result, there is insufficient money in circulation to support economic activity in Australia. This is why the economy is languishing.