Sen. Andrew Bragg interrogates Labor's housing ministers in "Why can’t Australia have an effective housing supply policy?"

"Do you think that Blackrock and Vanguard and foreign governments should be our major investors in housing?" asks Senator Bragg of Senator Katy Gallagher. This is a revealing and informative video, especially on the issue of how Labor is trying to attract funding for 'rent-to-build' housing from bad overseas corporations, which will likely create a new level of debt enslavement in Australia

BlackRock and Vanguard in Australia

BlackRock and Vanguard are among the top three investors in Australia's big four banks, according to the findings. They also own large stakes in insurers QBE, Suncorp and Insurance Australia Group, and in fuel retailers Woolworths and Caltex, which now trades on the sharemarket as Ampol.  Under cover of war, these giant investment companies have bought up huge parts of Ukraine and they are probably doing the same to Australia. Not only do they invest in weapons, they use war to steal.  Australia's mass immigration is being used as a similar excuse to sell off our land and indebt our people.[1]

Richard Anderson, in "Andrew Leigh takes on BlackRock, Vanguard over ownership," (Australian Financial Review, June 8, 2021) "reports: 

'The Labor Party’s Andrew Leigh has published new research suggesting the world’s largest asset managers, such as BlackRock and Vanguard, and local super fund giants may be inhibiting competition in Australia by owning large stakes in rival businesses.

The former shadow assistant minister for Treasury and economics professor has found big shareholders in nearly one in three large listed Australian companies also hold sizeable chunks in a competitor, which can dampen incentives to compete and act as a drag on the economy.

'Common ownership “reduces economic dynamism by blunting the incentives for managers to win market share from rival firms”, the authors write.'

“Just as monopolies can harm consumers without breaking the law, common ownership does not require foul play for consumers to be left worse off.”'

NOTES

[1] On the land-grab in Ukraine. [23] Frédéric Mousseau and Eve Devillers, War and Theft: The Takeover of Ukraine's Agricultural Land, The Oakland Institute, 2023, p.15. https://www.oaklandinstitute.org/sites/oaklandinstitute.org/files/takeover-ukraine-agricultural-land.pdf. Note that Mousseau and Deviller have tracked what has happened to Ukraine in depth and over a long period of time. They published their first report in 2014. https://www.oaklandinstitute.org/walking-west-side-world-bank-and-imf-ukraine-conflicthttps://www.aljazeera.com/podcasts/2023/4/7/ukraines-other-land-grab; More on Ukraine land-grab and land-tenure situation at https://candobetter.net/sheila-newman/blog/6856/australian-senate-inquiry-australian-support-ukraine-submission