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The Australian economy rests on a decades-long property gamble that has disenfranchised younger generations. It is why the differing policies of the two major parties at the federal election take on an unusual significance. The voters' choice will go a long way towards determining if that generational split will get better or worse.
Ecuadoreans have a popular expression, hacer la casita — roughly, 'they deceived us by promising something that was not going to be fulfilled'. This is what most Ecuadoreans are feeling now about president Lenín Moreno following his economic shift to the right, and the withdrawal of the asylum granted to Julian Assange by his predecessor.
Natalie Brennan, general manager of Muffin Break, accused 'millennials' of no longer seeing the value in 'experience', and of having an 'inflated view of their self-importance'. Ironically, she has an inflated view of her company's importance if she believes 'millennials' should jump at the opportunity to work for her in an unpaid internship.
On the flight out of Manila / clouds sculpt prancing herds / & then the long drive south / to a home as we know it / back to a sound of almost rain.
This week the presidents of bishops conferences and representatives of religious congregations around the world will meet in Rome to reflect on responses to the sexual abuse of children To understand and evaluate the meeting, we should keep in mind its background and the different groups that have a particular interest in it.
Valentine's Day is built on some fairly shaky historical ground. Rather than honouring a prelate offering bridal trysts, or hoping for a good harvest, I'm inclined to spare a thought for the Greek philosophers and poets who set up shop well before Romulus and Remus; I like to muse over their various efforts to pin down love.
Hayne's report brings into play ideas surrounding collective humanistic values and goals, and natural law principles based on commonly understood ethics and moral standards. What is striking is how the financial services industry has dehumanised consumers, and those within the industry providing the services at the frontline.
If you wish to peer into the heart of darkness, the nexus between big oil and big money is a good place to start. Those who control the energy market and the financial markets control the world. The latest victim of this brutal intersection is Venezuela, a country that has made the mistake of having the biggest oil reserves in the world.
Transitioning to a networked world replete with data is a challenging task. Our parliamentarians have a duty to appraise themselves of the basics of human rights, data ethics, and the technological frameworks that will deliver good governance. Until then, we will be left lurching from one technology omnishambles to the next.
The opening of the finance sector to scrutiny provides an opportunity to examine its position in the structure of the Australian political-economy, and, most importantly, to make the changes necessary to place it at the service of the people, rather than allowing it to continue to prey on us.
One of the most basic distinctions in finance, with which any stockbroker or fund manager is familiar, is that between equity and debt. As the global economy teeters on the edge of a debt and banking crisis, with global debt more than 300 per cent of global GDP, the merits of equity is something that needs to be better understood.
The problem goes much deeper than a few crooked operatives and it will not be fixed by changing the corporate 'culture'. The fundamental evil is the arithmetic of compound interest. Interest on debt rises exponentially, while economic activity is linear. That means that sooner or later those in a weaker position are unable to pay.
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