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The Liberal wipeout in inner-city electorates is without precedent in Australian politics. For the Liberal Party, ‘existential crisis’ is not an overstatement. As the party founded by Robert Menzies finds itself in the hall of mirrors, climate policy should be a major focus of critical self-appraisal.
As commodity prices and inflation soar in the ‘real’ world we may be witnessing a prelude to another 2008-style crisis triggered by the foreign exchange markets. The risks certainly look similar and can be described with a simple question. Can the fictions produced by out-of-control financial actors survive reality?
Election day. Mid-afternoon. 21 May 2022. I make my way to Canning Street, Carlton North. Stop by my childhood home, a single-fronted terrace, the neighbourhood of my youth. In the 1950s election day was a happy day in that rented house, conveniently close to the factories of Brunswick, and the Victoria Market where my father was a stallholder. My parents loved the three-block walk to the polling booths, located in Lee Street, our local primary school. They were elated at having the right to vote. From where they came, this right had been brutally taken from them.
In purely economic terms, the upcoming Federal election is extremely unusual. The shut down of the Australian economy for almost two years because of health measures really has no precedent in our history. Only war can produce that type of shock. The Federal government’s financial response was as extreme as the state of emergency measures, including a sharp increase in Australian government debt. It remains to be seen, however, if the government gets much credit for injecting so much free money into the economy. It is unlikely.
Elon Musk’s proposed hostile takeover of Twitter will be a fascinating battle that will have consequences far beyond the stock market. It is exposing just how financially strange social media and conventional media have become.
The country’s most recent conflict — ongoing skirmishes with Russian-backed separatists in Crimea, Luhansk and Donetsk, just 230km east of here — had been memorialised at an open-air exhibition: a latticework of bronze flowers had been superimposed upon an ambulance wrecked in battle; bullet-ridden place names from affected villages were lined up like a column of condemned POWs.
Like the aged care sector more broadly, home care is in the process of transition as the federal government implements a system designed around the principles of consumer choice and efficiency. The push is driven by expectations that the number of Australians accessing aged care services will more than triple by 2050.
Australia’s Reserve Bank mainly concentrates on keeping inflation within an acceptable range and maintaining a high level of employment. Social equity has never been considered to be part of its mandate. It should be. Interest rates have been the biggest cause of economic and social division in Australia, not just between rich and poor, but also between older and younger generations.
Did you make the annual obeisance to St Valentine’s Day traditions [read purchases] on the 14th? Last year, Australians were projected to spend $1.1 billion on Valentine’s Day gifts as St Valentine’s Day was lauded and backed by marketers, glamorising Romantic ardour and infatuation, glorious, all-consuming passion, and a thirst for intimacy and transcendence.
As if the Covid-19 pandemic has not been testing enough, modern life has never seemed more difficult than it does at present. We are bombarded on all sides by masses of information, misinformation, expert opinions, and the relentless, strident voices of social media browbeating us into accepting the dogmatic conclusions of leading influencers.
There is a great deal of commentary about the growing importance of artificial intelligence, or AI, especially in business circles. To some extent this is a self-fulfilling prophecy — if people think something will have a seminal effect then it probably will. But if the supposed commercial benefits are significant, the dangers are potentially enormous.
In recent years, Australia Day has been a holiday without title. It has been marketed as a day for all Australians, but is held on a date is seen increasingly as the beginning of the dispossession and humiliation of the First Australians. As a result it is generally received as an opportunity to laze around undisturbed by serious thoughts about Australia.