Search Results: debt

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  • AUSTRALIA

    Bond notes bode ill for Zimbabwe's currency calamity

    • Tariro Ndoro
    • 06 December 2016
    2 Comments

    Last week, the much dreaded bond notes were released into the economy, in a move hoped to alleviate the cash crisis. Most citizens are negative about the move, with good reason - the last time Zimbabwe had its own currency was 2009, when inflation was so high the currency had to be dropped to salvage the economy. Most Zimbabweans remember that time well: every other month citizens had to drive to Botswana to put food on the table because the country's own shops were empty.

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  • INTERNATIONAL

    Left doesn't own the fight against racism

    • Irfan Yusuf
    • 14 November 2016
    8 Comments

    Cultural totalitarianism, embodied in Trump in the US and Hanson in Australia, is a major injustice of our age. To fight it effectively, we have to enter into coalitions with those whose opinions we otherwise find distasteful. An anti-racism rally with only leftwing speakers is not going to make as big an impact as one with speakers across the spectrum. To insist the fight against racism is necessarily a leftwing issue is in some ways its own form of cultural bigotry.

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  • AUSTRALIA

    Solidarity and self-interest in the future of unionism

    • Tim Lyons
    • 13 November 2016
    7 Comments

    Just as the 'wealth management' industry is based on the lie that anyone can be wealthy if they are prepared to take enough individual risk, the modern lie about work is that your place depends on vicious competition with those around you. This sort of sociopathic individualism denies the collective project, where even the team resembles more a gangster faction than a collective. Success is said to be a function of your own efforts, rendering solidarity not just foreign but inimical to your interests.

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  • INTERNATIONAL

    An ode to speechless Bob Dylan

    • Philip Harvey
    • 03 November 2016
    10 Comments

    Initial silence from Dylan after the announcement of his Nobel Prize led one of the Scandinavian officials to complain he was being 'impolite and arrogant'. This prompted even more vitriolic opinion online on all sides, from fans, litterateurs, Dylanologists, and other armchair grenadiers. Just as things were getting completely tangled up in blue Dylan himself broke the silence to explain that news of the award had left him speechless. We shouldn't be surprised. Speechless is a normal state for a poet.

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  • AUSTRALIA

    Left shares blame for the rise of the rogues

    • Fatima Measham
    • 15 October 2016
    12 Comments

    Much has been made about how Republicans benefited from the 'birther' campaign and the Tea Party. It suited them to have proxies undermine the executive branch. In other words, the political right only has itself to blame for the nihilism which now engulfs it - and potentially, the nation. But the failures of the left also bear examination. While Clinton's current lead cannot be attributed entirely to her virtues, the polling gap between her and Trump should have been much wider, earlier.

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  • ECONOMICS

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

    • David James
    • 09 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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  • ECONOMICS

    The bad business of privatisation

    • David James
    • 12 September 2016
    18 Comments

    The argument that putting government operations into private hands ensures that things will run better and society will benefit is not merely a stretch; it is in many respects patently false. The argument is based on the claim that the market always produces superior price signals. Yet one area where private enterprise definitely fails is long term stability. If there is an expectation that a privatised service should last in the long term, and usually there is, then selling it to business is a bad choice.

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  • AUSTRALIA

    The holy sacrament of coffee communion

    • Barry Gittins
    • 14 August 2016
    12 Comments

    Within the first 20 minutes of my morning, I pay homage to life by partaking in that glorious gift to humanity, coffee. As well as the contested space around coffee's possible physical health benefits and purported dodgy effects, going for a coffee is good for the soul. Humans are social creatures, and coffee lubricates our communing. Over a cuppa I have shared hardships, counselled and been counselled, listened to tales of brokenness and celebrated the wins that punctuate our travails.

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  • INTERNATIONAL

    Frank Brennan on John Molony's Don Luigi Sturzo: The Father of Social Democracy

    • Frank Brennan
    • 25 July 2016
    3 Comments

    John traces the political ascent and descent of Sturzo whose first public office was as mayor of his own town. The chapter headings mark each step up and down the Everest of Italy's experiment with democracy and fascism: the emergence of political Catholicism in Italy; the dream takes shape; democracy without direction; democracy in decline; the search for a leader; the stick and the carrot; the voice of the watchman; and enter the night. Sturzo goes into exile; Mussolini takes over; and the Vatican is well pleased because the Roman Question is finally resolved in 1929 with the Lateran Treaties negotiated by Mussolini and Pope Pius XI, each of whom got what they were looking for.

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  • AUSTRALIA

    The changing face of the law across generations

    • Frank Brennan
    • 24 July 2016
    7 Comments

    Next year marks the 50th anniversary of the amendment to the Constitution which took out the adverse references to Aborigines. Following our recent election, we are assured at least six, and possibly seven, members of our national parliament who proudly claim an Aboriginal or Torres Strait Islander heritage. They are represented in all parties and none. How good it would be if our elected Aboriginal politicians could come together across party lines and propose an amendment to the Constitution which recognises them.

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  • AUSTRALIA

    Youth are speaking, we're just not listening

    • Katie Miller and Caitlin Meyer
    • 28 June 2016
    4 Comments

    'I'm doing it for my kids.' This is how some supporters of Brexit explained their position before the referendum. Yet 75 per cent of voters aged 18 to 24 voted to Remain. It seems the message from 'the kids' to older voters was 'thanks, but no thanks'. The same can be seen in domestic politics here in Australia. We often hear politicians and voters talk about the effects of a policy on future generations. Yet the issues of concern to young people themselves simply don't get much attention.

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  • ECONOMICS

    Beyond Brexit doomsday myths

    • David James
    • 27 June 2016
    15 Comments

    Had Greece decided to exit the EU last year the consequences would have been far greater than Brexit, because Greece uses the euro, whereas Britain has the pound. British interest rates are not set in Brussels, they are set by the Bank of England. And it has an independent fiscal and budgetary system, to the extent that it is possible. The British government has been imposing 'austerity' measures because it subscribes to neoliberal orthodoxy, not because it is being told to do so by Brussels or Germany.

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