Keywords: Banks
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AUSTRALIA
- Ann Deslandes
- 26 May 2017
4 Comments
Wealth inequality in Australia is flourishing. The top one per cent of household wealth in Australia is moving toward being 20 per cent of total wealth, and the country is a preferred destination for millionaires. With a government that prefers to impoverish and vilify the disadvantaged and spend big on coal mines, this does not look likely to shift. But there are always other paths to social justice, and in Australia one may be through the millionaires - or at least the companies on which their fortunes are built.
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CARTOON
- Fiona Katauskas
- 16 May 2017
3 Comments
This week's offering from Eureka Street's award winning political cartoonist.
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ECONOMICS
The $6.2 billion the government will raise through a levy on bank liabilities not only shows how out of favour banks have become, it is also, in effect, a de facto tax on property lending - a counterbalance to negative gearing and capital gains tax breaks. It is a tax on property lending because nearly all the banks' loans are mortgages for housing, or business loans secured with property. Of course the banks will pass the extra cost on to their customers, so it becomes a tax on borrowers.
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ECONOMICS
- David James
- 04 April 2017
13 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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AUSTRALIA
- Pepi Ronalds
- 06 March 2017
3 Comments
This week marks the anniversary of the triple disaster (earthquake, tsunami and nuclear meltdown) that hit northern Japan on 11 March 2011. The event took over 18,000 lives, and initially displaced 470,000 people. Six years on, 127,000 are still without a permanent home. Delays have been caused by the sheer physical scope, pre-existing regulations and other restrictions. These are all understandable. What is less easy to accept are the disruptions caused by the 2020 Olympics in Tokyo.
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INTERNATIONAL
- Julie Davies
- 24 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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ARTS AND CULTURE
- Tim Kroenert
- 14 December 2016
3 Comments
Amid the noise of Batman battling Superman, the Avengers turning against each other, and middle aged fanboys whingeing about the Ghostbusters franchise being revitalised with an all-female lead cast, 2016 has actually been a pretty solid year for movies, both in and outside of Hollywood. We haven't had time to see them all (we have a magazine to publish, after all) but nonetheless here is a list of our ten favourite films reviewed in Eureka Street this year.
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AUSTRALIA
- Tariro Ndoro
- 07 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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ARTS AND CULTURE
- Tim Kroenert
- 15 November 2016
1 Comment
In science fiction, stories of first contact typically have as much to say about humanity as they do about the extra-terrestrial creations of the author's imagination. Mary Doria Russell's 1998 novel The Sparrow explores the consequences of a Jesuit-led mission to a planet near Alpha Centauri, which are profound for the planet's sentient inhabitants and devastating for the human travellers. As in The Sparrow, language is central to Quebecois filmmaker Denis Villeneuve's philosophically piquant first contact story Arrival.
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INTERNATIONAL
- David James
- 10 November 2016
17 Comments
The first step for a business person is to make the sale, usually by over-promising and tapping into the emotional triggers of the customer. That is what Trump did. Over and over, he assured everyone that electing him would be 'fantastic'; he would deliver; customer-value is in the bag. The next step, once the sale is made, is for a hard financial logic to be applied. Trump's hype will be, at the very least, toned down. Once the customer has coughed up, business people typically become extremely pragmatic.
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ECONOMICS
- David James
- 10 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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CARTOON
- Fiona Katauskas
- 05 October 2016
3 Comments
This week's offering from Eureka Street's award winning political cartoonist.
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