Search Results: global financial crisis

There are more than 200 results, only the first 200 are displayed here.

  • ECONOMICS

    It will take more than a royal commission to tame the banks

    • David James
    • 10 October 2016
    2 Comments

    The strategy of the Big Four banks' appearance in parliament was clear enough. Blame the whole thing on a need to improve impersonal 'processes', imply that there have been a few bad apples but overall things are fine, and promise to do better in the future. The greatest challenge was probably to hide the smirks. A royal commission is being held up as an alternative, and no doubt it would be more effective. But a royal commission would not address the main issue.

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  • ENVIRONMENT

    Australian churches off the pace on clean energy switch

    • Thea Ormerod
    • 09 September 2016
    10 Comments

    With the grip of climate change tightening, few seem to understand the urgency of the crisis. This is why the announcement of over 3500 churches in the UK switching to clean power is so significant. At last, a solution presented by religious communities that matches the scale of the problem. They are providing the kind of leadership for the needed transition to an ecologically sustainable future. Unfortunately, one reason why it is so exciting is that we're nowhere near this in Australia.

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  • ARTS AND CULTURE

    Antiheroes of the Bush-Cheney arms boom

    • Tim Kroenert
    • 25 August 2016

    War Dogs is the latest in a string of films from the past few years that are custom made for our cynical times; deeply ironic black comedies and dramas featuring antiheroes who profit to the point of excess off the misery of others. Where those films dealt with the finance industry and gained relevance from the backdrop of the Global Financial Crisis, this one shifts focus to the grimier world of arms dealing, in the context of Bush era conflict in Iraq and Afghanistan.

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  • INTERNATIONAL

    The merits of Trump's economic agenda

    • David James
    • 09 August 2016
    15 Comments

    The main legislative catalyst for the GFC was the repeal, in 1999 by Bill Clinton, of the Glass Steagall Act, which had prohibited commercial banks from engaging in the investment business. This allowed the investment banks to indulge in the debauch of financial invention that almost destroyed the world's monetary system. Trump has made the reinstatement of Glass Steagall official policy. Should that happen, it could be the most beneficial development in the global financial system for decades.

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  • ENVIRONMENT

    Environmentalists' potential allies on the populist right

    • Greg Foyster
    • 03 August 2016
    6 Comments

    The neoliberal right is losing political power to the populist right, which isn't filled with the same ideological zeal for free-market capitalism. Suddenly debates can expand beyond the narrow confines of economic growth. Moral and social arguments won't be relegated to the intellectual fringes anymore. Mainstream parties of the left and right, both of which bought into the neoliberal agenda, will have to break their bipartisan dismissal of discontent with the side effects of globalisation.

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  • ENVIRONMENT

    Is your super doing dirty work?

    • Thea Ormerod
    • 21 June 2016
    4 Comments

    An accelerating number of institutions and individuals are moving their money out of planet-heating fossil fuels and into climate solutions. The total assets guided by some form of divestment policy was $3.4 trillion at 2 December last year, 50 times more than what was up for divestment 12 months earlier. It sounds like a lot, but it's a small amount compared to the $100 trillion-plus invested in the usual way. That's our money, in banks and super funds, managed funds and insurance companies.

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  • AUSTRALIA

    Australia's little sepia book of dead political tricks

    • Bronwyn Lay
    • 06 June 2016
    26 Comments

    Living within the United Nations community I've witnessed Australia fall from a well-respected international citizen, to becoming the spoilt, sneaky brat of international relations. Even the most blasé glance at the geo political currents moving through the planet reveal complexities this election pretends don't exist. Australians fighting about jobs and growth in the corner comes across as deeply deluded isolationism. The Great Barrier Reef is dying. The world is watching. Hello Australia? Anybody home?

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  • ECONOMICS

    Serfs sucked dry in the kingdom of banks

    • David James
    • 18 April 2016
    11 Comments

    Three finance-related events are currently gaining great attention in the media. One is the so-called Panama Papers. Another is the proposal to have a royal commission into the banks. And a third is the furore over the unaffordability of homes and the debate over negative gearing. On the surface they would seem to be quite separate issues. But all three issues demonstrate yet again that banks are, if not the most malign organisations on the planet, then certainly among the most dangerous.

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  • ECONOMICS

    Labor's negative gearing heroics alone won't save us

    • David James
    • 26 February 2016
    8 Comments

    It is not often that federal political parties exhibit courage. Labor's decision to change the rules on negative gearing is a rare instance. It targets what is most dangerous and unfair in our financial system. Expect howls of protests from powerful lobby groups if it ever looks like becoming policy. But these changes alone won't be enough to deal with the ills of the financial system. While they are designed to target the bias away from productive investment, they won't remove the attraction towards property.

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  • INTERNATIONAL

    Why Australia is missing the revolution

    • J. R. Hennessy
    • 19 February 2016
    23 Comments

    The aftershocks of the late-century push for liberalisation and the GFC have bred generations of dislocated voters who seek answers outside of the limited solutions of centrist governance. This provides ample opportunity for true progressive change, as seen in Europe and Latin America, and now the US and UK. Where's Australia? Nowhere to be seen. It is hard to imagine a truly progressive candidate emerging from our ossified political structures. There are a few reasons for this.

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  • ECONOMICS

    Consequences loom for global debt binge

    • David James
    • 19 January 2016
    11 Comments

    Low interest rates tend to change the understanding of risk; having high debt seems to be less of a problem because the cost of servicing it is lower. This cavalier attitude has been especially evident in Australian households, which have racked up more debt relative to the size of the economy than any other country in the world. The massive appetite for debt has been replicated across the globe. The world may have survived the era of casino money - just - but it is now facing another crisis.

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  • AUSTRALIA

    Are corrupt bankers terrorists?

    • Justin Glyn
    • 14 December 2015
    4 Comments

    There is a new proposal from Prime Minister Malcolm Turnbull that those convicted of terrorism offences are to be remanded in jail even after they finish serving their sentences. Given that the pressing of terrorism charges has already proven to be a highly subjective practice, there is good reason to fear that any new powers to detain people beyond the expiration of their sentences for terrorism offences will, like the offences themselves, be applied in a politically selective manner.

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