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Two of the most important issues to have been given scant attention in the election campaign are ageing and property. Even less noticed is the inter-relationship between the two. The effect of ageing on property prices will be arguably the most important financial challenge facing Australian governments over the coming decades.
As the China boom fades Australia is experiencing a delayed version of the GFC, without the banking crisis. Until now we've been reasonably well served by both sides of politics, in terms of macro-economic strategy. Now we require a way of dealing with more mundane economic issues like productivity and efficiency. Neither side has many good ideas about how to achieve the required structural shifts.
Religious authorities may not spend a lot of time pondering the nature of global financial systems, but the Pope's recent comment that 'money has to serve, not rule' suggests it can be useful when they do. Given scope to become rule makers, rather than just people who know how to exploit the rules, financiers have moved themselves to a position of mastery.
The Coalition's characterisation of the Gillard Government as a lame duck is a tactic to slow down decision-making over the next four months. A government has every right not just to keep the wheels turning but to continue to try to implement its program even if it is just trying to improve its chances of re-election.
Money is not like water, that 'flows' around the world, reaching 'equilibrium', or experiencing 'volatility'. It is transactions between people, based on trust. It enables the cooperation that forms the basis of social life. Human beings should be at the centre. Yet that is the opposite of what is happening. Monday 27 August
Even after the most dangerous financial crises ever seen, finance industry lobbyists still argue that the sector should not be too heavily regulated as that would be counterproductive. This is nonsense. Money is rules. It is a question of who sets the rules and what kind of rules they should should be.
'Though land rights and self-determination provide no utopia for the contemporary indigenous Australian community, they have belatedly put right an ancient wrong. The cost and inconvenience are unavoidable. Terra nullius is no longer an option.' Full text is from Fr Frank Brennan's keynote speech at the Central Queensland Law Association Conference, Mercure Capricorn Resort, Yeppoon, 27 October 2012.
The demise of Gunns, Tasmania's biggest paper and pulp mill, has been greeted as a triumph of environmentalists over business. The saga encompasses much more than that. It poses some deep questions about ownership and accountability in Australia's financial system which are yet to be answered persuasively.
'I had the pleasure of the company of Bob Katter at a series of meetings with Aboriginal Councillors before addressing a public meeting on Palm Island. Some say there has been little growth or change on these remote Aboriginal communities. In fact some of what we saw was unimaginable 30 years ago.
Money is not like water, that 'flows' around the world, reaching 'equilibrium', or experiencing 'volatility'. It is transactions between people, based on trust. It enables the cooperation that forms the basis of social life. Human beings should be at the centre. Yet that is the opposite of what is happening.
People often talk about the 'enormous wealth of the Vatican'. Some think the Vatican owns all the Church's worldwide real estate, others that all that art could be sold for the poor, others that the Vatican is corrupt and busy laundering vast sums of Mafia money through the 'Vatican Bank'. Now for the first time we have some hard facts.
Text from Fr Frank Brennan SJ's Lenten presentation 'Justice, the Church and the Ignatian tradition' at St Ignatius Parish, Norwood, 13 March 2012 and St Michael's, Clare, 14 March 2012.
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