Dave Donovan Profile picture
May 7 14 tweets 4 min read
I think the economy is in terrible shape. Sure, ask Albanese about what the RBA cash rate is - and as a former banker, I can assure you it is largely ignored by the banks - but what about asking Morrison what the inflation rate is?
The CPI usually ticks along at between 2 and 3%.
At present, the annualised cost price index increase is 5.17%. It's high!
Meanwhile, wage growth averages around 2%. (Not for people like Morrison or the CEOs, though. Corporate profits are booming.
It means we are all, on average, 3% poorer every year under this Government.
Which adds an added sense of irony to the Coalitions "won't be easy under Albanese" pitch. The real value of our money is diminishing by 3% every year under the Coalition, wages are stagnant, and more and more people are in insecure jobs all the time. Housing prices are absurd.
But, I am a qualified accountant and a former investment banker (finance analyst). I grasp this shit almost unconsciously. But how many other journalists understand this stuff? I'd say very few. So instead they're asking Albo about dot points on pg47 of the ALP policy manifesto.
It angers me, because the nonsense these underqualified hair products with a body attached ask and repeat and focus on, relentlessly, aggressively, inevitably becomes what the average person picks up as their pointer towards who is the better bet. Who they should vote for.
It's called the Fourth Estate, because historically democracy has been seen as having four intrinsic elements.
First Estate: the executive; Second Estate: the legislature; Third Estate: the judiciary; Fourth Estate: the media.
Media is vital to keep the other estates honest.
To cut to the chase, on what I've seen - and I have been in the Press Gallery - Australia's political journalists are mostly too young and inexperienced, and more have done nothing much else but wave a microphone in people's faces and develop a grandiose sense of self-importance.
When you have a weak Fourth Estate or one that has become subverted by one or all the others - as Australia's has - democracy suffers. This is why voters have become increasingly disenchanted with it here. Politics, as it's reported, is tribal, adversarial and seen as irrelevant.
How to strengthen our 4th Estate and thus our democracy? Some ideas.
1. Deconcentrate media ownership.
2. Bring in an ACMA-type authority to regulate all the media, not just broadcasting.
3. Make media a profession you can only enter with some other credentials, like medicine.
Only by a Fourth Estate staffed by people who know the larger context before they ask questions and do their hair swirly piece-to-cameras, can we hope to have a public informed enough to make considered decisions as they approach the ballot box.
Otherwise, it's not a democracy.
That's pretty much it.
I'll just add, I retired at 40 and start @independentaus in 2010.
After 11 years without earning an income, but giving lots of other people some, I've tapped out my savings.
The smart thing for me to do would be to close down IA. Or sell it to Murdoch.
But I don't want to do that. I think @independentaus is one of the few parts of our 4th Estate that does indeed inform.
I'm proud of it. It's a work of art IMHO. I'm sure no-one else sees it that way.
If you want IA to stay and to keep employing journos, writers and editors...
Consider donating just 5 bucks to IA right now.
If every one of my 37,000 or so Twitter followers did that, or even a fraction of them, well, I wouldn't need to humble myself before you all, asking for help.
I do it because Australia needs IA more than me.
Thank you so much for hearing me out.
If you really want to become part of the @independentaus family, consider subscribing. You even get cool merch!

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More from @davrosz

Jan 20, 2021
The new @independentaus weekly newsletter is going to drop in the next hour or so - and trendsetters! - it's even better than our usual superb level.
It features an editorial by @vmp9 on how to make $$$$ under the Morrison gang.
Spoiler! Here's a clue: independentaustralia.net/politics/polit…
You need to be a subscriber to @independentaus to receive our weekly newsletter, but that's because without this money we couldn't publish.
But since Xmas, our subs have gone from 2450 to 2400, almost all blaming financial pressure.
Times are tough! :( independentaustralia.net/about-ia/subsc…
Course, receiving the weekly newsletter is just one of the benefits you receive from subscribing to @independentaus.
You also receive free stuff, including stickers, books, t-shirts, cool bags and access to the members only area. (Although we don't paywall our articles. Crikey!)
Read 18 tweets
Dec 11, 2020
The passing of Mungo MacCallum means we have lost a enigmatic truthteller. An @independentaus columnist towards the end, his razor sharp wit, wisdom and huge intellect helped us make sense of the world.
The loss of such giants makes us reflect on what counts, hence this thread.
It's clear there aren’t enough truthtellers like Mungo left in Australian media. At @independentaus though, we hunt them out and publish them. We know the importance of facts and truth to democracy, which is at grave risk when false narratives are presented as the whole picture.
Truthtelling is not for the fainthearted and Mungo was a fearless progressive amongst a sea of conservatives - even in his own family. But if you care about democracy, you will speak the truth to power, even when it is uncomfortable, awkward, risky or even frightening.
Read 10 tweets
Dec 9, 2020
Very sad to hear that Mungo MacCallum has died. An @independentaus contributor for years I've known Mungo since my time as a director of the Republican Movement, a decade and some ago. A charming man, incredibly astute, brilliantly eloquent and utterly his own. Such a loss. RIP.
Mungo has two stories in our top nine over the last week and only announced his retirement on Monday. He kept writing right until the end. What a professional he was.
Mungo was part of the Bunyip aristocracy, as his family were offshoots of British aristocracy. His great-great-grandfather ,William Charles Wentworth, came to the NSW colony in the early 1800s and stamped his mark as an explorer and politician, and as a father of the nation.
Read 6 tweets
Sep 16, 2020
Great editorial coming for @independentaus subscribers in today's weekly newsletter.
Editor @vmp9 is on fire more than NSW in January, as she explains who is the koala's biggest enemy. (Spoiler: there's a twist!)
Make sure you're a subscriber. Yes you!
Of course, @independentaus is one of Australia's most ardent koala champions. Indeed, I have just paid our lawyers $10,000 as someone has taken umbrage at one of the many brilliant, fair and painstakingly researched articles on IA by @koalacrisis about this growing calamity.
In just over 10 years of speaking truth to power, @independentaus has been almost constantly threatened by people with deep pockets - who are almost always the powerful - to try to shut us up.
This is called #lawfare and is a pernicious and costly part of our flawed legal system.
Read 10 tweets
Sep 3, 2020
You've probably been following the dispute between Google and Facebook and the Murdoch media's official proxy. the Morrison Gov't
As the publisher of a popular independent news website, I have developed some well-considered views on this deeply corrupt farce.
So here's a thread.
The first thing to understand is that old Uncle Rupert, the repitilian relic, doesn't like the internet. He likes more tangible things, like paper, ink and the entrails of his foes. He also doesn't really understand the internet, but knows what he doesn't like most: aggregators.
He has been railing against these so-called aggregators, by which he means social media platforms and search engines, both personally and through his vast and sinister media conglomerate, for at least a decade. His argument is they are stealing News Corp content by posting links.
Read 14 tweets
Aug 28, 2020
I would say that the difference between me and virtually every other relatively successful journalist or publisher is that I don't regard other journalists or VIPs as any more important than the people we write for. In fact, my sympathies are very much more towards the outsiders.
Many people probably say that, but my record speaks for itself.
Of course, not pandering to egos does make IA a target and I have, regrettably, I must inform you received rather severe and harrowing bouts of sustained intimidation. But enough about my family...
Read 8 tweets

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