Search Results: financial crisis

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  • ECONOMICS

    Welcome to the Matrix of materialism

    • David James
    • 26 January 2018
    7 Comments

    A visitor from an earlier time would be stunned to see how much we understand the world using monetary measures. Finance has come to be considered the first reality, not defined by, or reflecting, reality. To see how this creates distortions, consider GDP, which is taken to be a reliable measure of national wellbeing, but in fact is anything but.

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  • ECONOMICS

    Economic doom looms in Oz's game of homes

    • David James
    • 11 December 2017
    1 Comment

    It is not difficult to imagine a scenario where the game of musical chairs in Australia will come to a shuddering end, imperilling the banks and dragging the economy into a deep recession. As we saw in the GFC in America and Europe, government money will be thrown at the banks to rescue them at the expense of ordinary citizens.

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  • INTERNATIONAL

    Undermining NZ: Dutton's refugee ploy

    • Binoy Kampmark
    • 19 November 2017
    9 Comments

    These sprinklings of poison through the press, with occasional mentions in New Zealand, serve two purposes: to show Australian refugee policy as sound, and offshore detention and resettlement in an unsuitable third country as appropriate; and to deflect attention from the discharge of obligations under the UN Refugee Convention.

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  • ECONOMICS

    In the end, debts cannot be paid

    • David James
    • 07 November 2017
    3 Comments

    Once upon a time, usury was considered a sin and lending was subject to strict controls. Now, the world is in the grip of usury. It cannot continue. At some point it will have to be retired, or swapped to equity. A good place to start is third world debt, which is the most immoral variant.

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  • ECONOMICS

    World trade is now America versus China (and Russia)

    • David James
    • 22 August 2017
    4 Comments

    The anti-Russian frenzy in the United States amounts to little more than a great deal of evidence that the intelligence community suspects there might be a great deal of evidence that the Russians have been meddling. It has to rank as one of the biggest, and most orchestrated, blind alleys of modern media coverage. When a journalist says an anonymous ‘respected source’ thinks the Russians are up to something, this writer is always left wondering: respected by whom? His dog?

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  • ENVIRONMENT

    The renewables debate is won, but we may still lose the war

    • Greg Foyster
    • 16 August 2017
    9 Comments

    In the last few years, vested interests have changed their strategy for opposing action on climate change. Where they once focused on denying the problem, they’re now putting their efforts into sabotaging the solutions. Instead of funding fake experts to say the ‘science isn’t settled’, fossil fuel companies and their political backers have been running a smear campaign against renewable energy technologies like wind turbines, solar panels and batteries.

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  • ECONOMICS

    Where is money headed?

    • David James
    • 29 July 2017
    2 Comments

    The daily fluctuations of financial markets and the fractious debates over economic policy are concealing something deeper and much more disturbing. The future of money itself is in question. A decade after world banking almost collapsed in the global financial crisis, the questions raised have not been answered.

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  • AUSTRALIA

    The manor and the workhouse in modern Australia

    • Andrew Hamilton
    • 04 July 2017
    17 Comments

    A regular feature in Australian politics is the attempt to save money by penalising people who are struggling with life. It is usually accompanied by disparagement of the groups who are targeted. The strategy has a long history that provides a context. In 19th century England, a system was established that would encourage people to seek work by deterring them from seeking help. Central to this was the establishment of workhouses where the conditions would be more unpleasant than in any form of work.

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  • ECONOMICS

    What lies beneath the finance industry's water words

    • David James
    • 04 June 2017
    10 Comments

    One thing that is rarely done is a literary-style analysis of the language used in finance and business. It can quickly reveal the sleight-of-hand, even outright deception, that plague these powerful sectors. To take one example, finance language heavily relies on water metaphors, which are deeply misleading. It is unlikely that this is done deliberately; it is more probably reification (making the intangible appear to be concrete). But its consequences have been, and remain, devastating.

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  • RELIGION

    Finding meaning in a chaotic/changing world

    • Frank Brennan
    • 07 May 2017
    1 Comment

    Our Church is presently a strained, outdated social institution with an exclusively male hierarchy and clergy. But it is also the privileged locus for us to be called to the banquet of the Lord sharing theology and sacrament which have sustained the hearts and minds of similar pilgrims for two millennia. Thank God for Pope Francis who is showing us the way, helping us to find meaning in our changing and chaotic world, putting a fresh spring in the step of all those Catholics holding in tension the prophetic and the practical, the theological and the humanist, the tradition and the contemporary reality.

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  • AUSTRALIA

    Seeking a fair go on budget night

    • Frank Brennan
    • 06 May 2017
    7 Comments

    Part of the cost of the double dissolution election last July has been the creation of a Senate with the largest, most diverse group of crossbenchers ever. This will make the passage of any new contested Budget measures difficult, particularly given the Prime Minister’s vulnerability on his right flank, and the Labor Party's propensity to mimic the Opposition tactics adopted previously by Tony Abbott. The government needs to create a clear narrative as to how it will achieve equitable and sustainable growth through this Budget.

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  • AUSTRALIA

    Not such a super way to buy your first home

    • Francine Crimmins
    • 13 April 2017
    15 Comments

    As a millennial, I frequently find myself being told to stop complaining about housing affordability. It's all about working harder, saving more and, for goodness' sake, keeping off the avocado. As a young person, I'm concerned about using super, a system which was put aside for our economic welfare in retirement, as a savings account for instant gratification. The government is trying to solve the housing crisis not through direct action, but by encouraging young people into lifelong debt.

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