Search Results: GFC

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  • ECONOMICS

    Lehman Brothers and the next GFC

    • Binoy Kampmark
    • 12 September 2018
    2 Comments

    It has been a decade since the banking aristocracy Lehman Brothers filed for bankruptcy in what would be the chant of doom that became the Global Financial Crisis. Today, the legacy of Lehman Brothers and the crisis it helped precipitate supply warnings of the next shock.

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  • ECONOMICS

    Australia's deadly game of mates

    • David James
    • 13 August 2018
    6 Comments

    Murray and Frijters detail what they call Australia's 'grey corruption': the grubby nexus between 'James' (corrupt business people) and governments or regulators. The Jameses thrive at the expense of the 'Bruces': ordinary working people. The games of the corrupt elite now cost the 'Bruces' about half their wages.

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  • ECONOMICS

    Japan could lead the way in forgiving debt

    • David James
    • 13 May 2018
    4 Comments

    As the world economy groans under soaring levels of debt, the place to look is Japan, whose current government debt-to-GDP ratio is an eye watering 253 per cent. It is Japan, which led the developed world into this mess, that is likely to lead the world out of it by cancelling debt. The consequences of such a move would be far reaching.

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  • ARTS AND CULTURE

    Lady Bird's riposte to Hollywood sexism

    • Tim Kroenert
    • 27 February 2018
    8 Comments

    That Hollywood has a gender equality problem is not in doubt. The conversations around what constitutes assault and harassment, and about how Hollywood culture reflects and reinforces equality in society at large, is vital, and sophisticated. The standard of what we should expect is being constantly raised. It should be.

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  • ECONOMICS

    No economy of exclusion and inequality

    • Joe Zabar
    • 26 February 2018

    'Francis' statement is not one merely for theological or academic contemplation. It is in effect Francis' call to establish a new benchmark for our economy, one where exclusion and inequality are no longer a natural and accepted consequence of its operation.' Director of Economic Policy for Catholic Social Services Australia addresses the CSSA annual conference in Melbourne, February 2018.

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  • ECONOMICS

    Economic doom looms in Oz's game of homes

    • David James
    • 11 December 2017
    1 Comment

    It is not difficult to imagine a scenario where the game of musical chairs in Australia will come to a shuddering end, imperilling the banks and dragging the economy into a deep recession. As we saw in the GFC in America and Europe, government money will be thrown at the banks to rescue them at the expense of ordinary citizens.

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  • PODCAST

    ChatterSquare: Osmond Chiu on navigating post-GFC polarisation

    • Podcast
    • 17 July 2017

    When UK Labor leader Jeremy Corbyn appeared to some acclaim at Glastonbury Festival, it triggered some amount of pining in Australia. Why do we not have someone like that? With Osmond Chiu, the Secretary of the NSW Fabians and Deputy Editor of Challenge magazine, we unpack what this sentiment is about and whether it gets to the heart of what is wrong with our current politics.

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  • AUSTRALIA

    We are all neoliberals now

    • Tim Robertson
    • 19 April 2017
    13 Comments

    One of the challenges for progressive parties is to look beyond the existing neoliberal framework for solutions to the current malaise. Labor is so steeped in neoliberal orthodoxy that, even if it was willing to evolve, it's likely incapable of doing so. And while much of the intellectual heavy lifting in forming a picture of what a post-neoliberal future may look like will be done outside organised politics, Labor remains completely unengaged with almost all of these debates.

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  • ECONOMICS

    Deconstructing the privatisation scam

    • David James
    • 03 April 2017
    12 Comments

    It is increasingly evident how pernicious the privatisation myth is. Two recent examples have underlined it: the failings in Australia's privatised energy grid and the usurious pricing in airport car parks. Both demonstrated that it is folly to expect a public benefit to inevitably emerge from private profit seeking. The purpose of government funded public infrastructure is not to make profits but to lower the cost of doing business, sometimes called the socialisation of the means of production.

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  • INTERNATIONAL

    Bread and circuses in modern Australia and America

    • Julie Davies
    • 23 January 2017
    11 Comments

    I can understand the Trump phenomenon. Hard-working Americans and many Australians are blaming various minorities as responsible for their decline. They are being blinded to the real culprits: our own governments and their wealthy backers. Juvenal's 'bread and circuses', designed to keep the people docile and distracted in Ancient Rome, have been updated to Maccas and manufactured news. And hatred. Are we so easily manipulated? Is the American model the future Australia wants for itself?

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  • ECONOMICS

    Hollowed out labour market stymies equal opportunity

    • Veronica Sheen
    • 12 December 2016
    5 Comments

    Over the last two decades we have seen a process of job polarisation. There has been growth in high end jobs, but mostly in low end jobs, the outcome of which has been the hollowing out of middle level jobs. This hollowing out of the middle also relates to greater wealth polarisation, as French economist Thomas Piketty has brought to light. The labour market is under a lot of pressure from many angles, so what does this mean for the project of women's equal opportunity in employment?

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  • INTERNATIONAL

    The merits of Trump's economic agenda

    • David James
    • 08 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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