Search Results: banks

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  • RELIGION

    Purifying language vital to renewing 'polluted' churches

    • Andrew Hamilton
    • 01 September 2016
    15 Comments

    Dowling, who was a victim of clerical abuse, offers a program of reflections that bring together scriptural themes and the effects of sexual abuse. Most striking is the extraordinary labour required to purify the language of a tradition that has become polluted. This is vital not simply as a therapeutic exercise but as a condition for renewal and reconciliation. It may also be pertinent to wider society, where Brexit and the Trump phenomenon have been characterised by a coarsening of public language.

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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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  • ECONOMICS

    Beyond Brexit doomsday myths

    • David James
    • 28 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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  • AUSTRALIA

    'War on business' rhetoric echoes '07 union bashing

    • Brendan Byrne
    • 27 June 2016
    15 Comments

    Whether or not the person in the now notorious 'fake tradie' ad is or isn't a 'real' tradie is irrelevant. What is relevant is that it is a primary example of the co-option of the language of class struggle and economic justice that has so thoroughly poisoned economic debate in the industrialised West. Implicit within it is a patronising view of the working class that dismisses them as gullible dupes who can be made to entrench the privilege of the few in return for the paltry crumbs of consumer hedonism.

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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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  • ARTS AND CULTURE

    War-room of a child's mind

    • Belinda Rule
    • 21 June 2016
    4 Comments

    I saw a younger girl, blonde hair in pink clips, spiral glitter sneaker laces - baubles of a treasured child that no-one ever bought for me. A girl in a parlour painting, and I the hairy spider hulking in the corner. In the war-room of the mind, I pierced my map with pins. How simple to trick her to some dirty culvert, hold her down, mar her white arms ... Civilisation was a hair draped on the head of a pin, each one of us poised, rigid, clutching our own pin still - I could see I would cramp with the effort all my life.

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  • ECONOMICS

    How financial markets are stymying climate action

    • David James
    • 15 June 2016
    7 Comments

    There is little doubt that the means to dramatically reduce the amount of pollution produced by developed economies is already theoretically available. It is perfectly possible to redesign industrial systems so that they do not pollute and do not consume finite resources at a rate that is unsustainable. But it requires a radical shift - and the biggest barrier to that shift occurring, the financial markets, is barely even mentioned in discussions of the challenge.

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  • INTERNATIONAL

    Calculated risks, incalculable rewards in India

    • Catherine Marshall
    • 27 May 2016
    3 Comments

    In 2013 I attended an event so exclusive, so unique, it wouldn't happen again for another 144 years. It was the Maha Kumbh Mela in Allahabad, Uttar Pradesh, where, over a six-week period, an estimated 120 million Hindu pilgrims converged on the banks of the Ganges, Yamuna and mythical Sarasweti Rivers in order to perform puja, or the cleansing of their sins. If we're open to what travel seeks to teach us, we'll gain from it the most superior of educations, and the most profound lessons in humility.

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  • AUSTRALIA

    Banking royal commission is popular, not populist

    • Andrew Hamilton
    • 26 May 2016
    7 Comments

    The evidence of misbehaviour by banks has become public at a time when the underlying ideology has also been criticised. The inherent unlikelihood that an economy based on individual greed will benefit the whole of society is now patent. It is seen as much more likely that unregulated competition for material gain will lead to the concentration of wealth in the hands of the wealthy and powerful. Evidence now suggests that inequality hinders the economic growth it was presumed to nurture.

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  • RELIGION

    Catholic bishops deliver election year ethical wedge

    • Andrew Hamilton
    • 19 May 2016
    13 Comments

    The bishops speak less trenchantly than Pope Francis, who criticises sharply the assumptions and practices of neoliberal economics. But in the context of this election, they add their voice to that of those who are concerned about economic assumptions that enrich the few and exempt corporations and business from social responsibility. Their statement will encourage those who see the now notorious behaviour of banks, finance business and corporations as symptomatic of a vicious economic ideology.

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  • AUSTRALIA

    Anna Burke: 'It's time for a rational debate about refugees'

    • Di Cousens
    • 10 May 2016
    26 Comments

    'We have now got a world wide refugee problem. We don't have one here but we do have one world wide. It is now time to start having a rational debate about what we do with these people as opposed to playing the race card.' Interview with Anna Burke, who has represented the seat of Chisholm in the House of Representatives for the ALP since 1998. Burke is the former Speaker of the House (2012–2013), and has been a consistent advocate for asylum seekers. She will retire at the next election.

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  • AUSTRALIA

    Being popular is not the same as leadership

    • Fatima Measham
    • 04 May 2016
    3 Comments

    In democracies, public sentiment is meant to be taken seriously. Describing something as populist is a refusal to engage with the sentiment, including its source and complications, usually because we find it disagreeable. The subtext is: people are wrong about the things they care about. They are not being rational or realistic. It is a brave thing to say these days about support for a royal commission into banks, or softening public attitudes toward detention-bound children.

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