Search Results: banking

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  • ECONOMICS

    Chinese economy a work in progress

    • David James
    • 13 September 2015
    1 Comment

    The recent ructions in the Chinese stock market set off great consternation in global financial markets, but for the most part this was a display of ignorance. One of the reasons China’s influence on global markets has been so beneficial, since at least 2007, is that its economy and financial markets are so different.

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  • EUREKA STREET TV

    Education needed to overcome media superficiality

    • Peter Kirkwood
    • 08 September 2015
    1 Comment

    Last week's image of Aylan Kurdi was emblematic of a range of current social crises: religious and ethnic conflict, discrimination and inequality, terrorism, the plight of migrants and refugees. Western Sydney University Humanities lecturer James Arvanitakis sees education as the key to grappling with them beyond the knee-jerk response to the disturbing images.

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  • ARTS AND CULTURE

    Two goats, a sheep and Grexit

    • Gillian Bouras
    • 30 June 2015
    4 Comments

    In the early hours of Saturday, Prime Minister Alexis Tsipras had announced a referendum for July 5. Whether the average Spiro and Soula has much idea of the macroeconomic issues seems doubtful. I certainly haven’t. And there is not much time for them or me to learn. Spiro and Soula and I are naturally concerned about the supply of ready cash.

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  • ECONOMICS

    The IMF has failed Greece

    • David James
    • 30 June 2015
    6 Comments

    International Monetary Fund prescriptions have a long history of failing, and countries that ignore them are often the ones that do surprisingly well. Few have been asked to be more servile than the Greeks. When the IMF came in with what is amusingly referred to as its austerity 'plan', the Greek economy was expected to grow at over 2 per cent. After the 'plan' had taken effect, the country’s economy had shrunk by a quarter.

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  • ECONOMICS

    Joe Hockey's crystal ball

    • David James
    • 05 March 2015
    8 Comments

    The 2015 Intergenerational Report is reminiscent of a comment by that great 20th century philosopher and baseball player Yogi Berra: 'It’s tough to make predictions – especially about the future.' Many economic commentators have pointed out, rightly enough, that Treasury cannot even get its one year predictions right. Nevertheless, it is worth looking at how the 40 year forecasts are constructed to see the kind of thinking involved.

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  • AUSTRALIA

    The financial crisis the Government wants us to have

    • Colin Long
    • 08 February 2015
    19 Comments

    The Coalition Government falsely claims that Medicare co-payments and cuts to welfare and publicly funded institutions such as the CSIRO and the ABC are necessary to 'fix Labor's mess'. There are indeed structural problems with the economy, but essentially the plan is to strip the public sector by cutting universal access to a range of services that also includes tertiary education, to create a dominant free market that marginalises Australians on low incomes.

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  • ECONOMICS

    Australia's delayed GFC

    • David James
    • 07 September 2014
    7 Comments

    What is only now starting to come into focus is the extent to which the whole economy is in hock to house prices. A sharp fall in the housing market will put intense pressure on our major lending institutions, leading to a deeply depressing effect on all parts of the economy. The regulators, as ever, are taking a hands-off approach.

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  • ECONOMICS

    Commbank plunder part of new world economic order

    • David James
    • 06 July 2014
    7 Comments

    As the Pope and economist Thomas Pikkety have observed in recent times, the inequity created by capitalism is a growing concern. But the problem with this argument is that 'capitalism' is too broad a term. The attack would be far better directed against the financialisation of developed economies. A new type of sovereign has emerged, and like all rulers they are cheerfully engaging in acts of plunder.

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  • ECONOMICS

    Deciphering capitalism's corrupt metaphors

    • David James
    • 06 February 2014
    15 Comments

    'All animals are equal, but some animals are more equal than others'. This was George Orwell's parody in Animal Farm of the vicious use of language in communist states. It was one of his memorable depictions of how the absurdities of language not only reflect evil, but also predicate it. Language was a tool of oppression in communist states. In capitalism it is no less vicious.

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  • ECONOMICS

    Dollar bulletproofs US economy

    • David James
    • 03 October 2013
    1 Comment

    America is fond of claiming exceptionalism, which is usually little more than an indication of its attitude to moral accountability. But in one area America definitely is exceptional: the global currency markets. There is no risk of the market for American dollars drying up, which means that a default by the American government is, while significant, not especially relevant to what happens with the global trade in US dollars.

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  • AUSTRALIA

    Abbott's night of the short knives

    • Tony Kevin
    • 19 September 2013
    6 Comments

    Under the US revolving door model, top public service jobs are held by staff who are openly politically affiliated. When government changes, they go back to their jobs as special interest Washington lobbyists. Australians have made clear we don't like that system. It is open to corruption, and when our governments flirt with it, they usually come to regret it.

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  • AUSTRALIA

    Turnbull's electronic voting pitch is on the right track

    • Edwina Byrne
    • 11 September 2013
    3 Comments

    Malcolm Turnbull's justification for calling for the introduction of electronic voting is that roughly six per cent of voters failed to correctly fill in their ballot papers on Saturday. Electronic voting would stop this senseless waste. Ignoring the fact that electronic voting would disenfranchise the roughly 5.9 per cent of voters whose democratic wish is to draw male appendages on their ballot, Turnbull has a point.

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