The rich poor gap in modern society isn’t just related to income. In fact, recent statistics in the UK point to a narrowing of the income gap since the financial crisis. The bigger issue is the inheritance of wealth, giving some a head start and inflating house prices beyond the reach of many. In this edition Phil Dobbie asks Prof. Steve Keen whether a heftier inheritance tax is the answer. There’s discussion of the problems with that approach, how land tax is similarly distortionary, and a suggestion of a better way of narrowing the gap – but we’d better do something about it, before civil unrest reaches fever pitch.
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Easing off the pedal, Aussie takes a hit
Equity rally stalls I the US. A bit of profit taking, says NAB’s Tapas Strickland, plus caution over the risk of another wave of the virus.
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The Wonderful World of iPros
Research shows that independent consultants generally have a better life. Perhaps it’s time to go it alone.
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Now, a word from your central bank
US equity markets continue to slide. NAB’s Rodrigo wonders whether it is uncertainty over the Fed’s ability to stimulate the economy. Jerome Powell has a chance to do a sell-job when he faces two days of grilling by the US Senate and Congress this week.
