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Stopped at two stones, I languish beneath this vault tarnished with heaven. The tangle of these paths are in possession of my blindness. Nothing is more squalid than my monotony.
The biggest mystery of the financial markets is why, when the monetary authorities have been printing money with their ears pinned back, is inflation for the most part not a problem? What happens with inflation is crucial to the short-term survival of the whole system. Global debt, which is running at well over 300 per cent of global GDP, is only sustainable because interest rates are exceptionally low (the base rate in Australia is only 0.1 per cent). And interest rates are low because inflation is not a problem.
There really is no such thing as ‘capitalism’ — or rather there are so many capitalisms that the word is altogether too imprecise to be useful. A much better term to identify the problems, even evils, of modern developed economies is ‘corporatism’. This can be precisely identified and its transgressions and general harm are getting worse.
While we can’t conflate accusations against Roth’s biographer with his subject, this recent Blake Bailey scandal invites us to revisit, through a 21st century lens, the world of someone considered one of the definitive writers of the 20th century.
An often overlooked fact about the financial system is that it entirely depends on trust. When trust starts to evaporate, especially between the big players such as banks and insurance companies, the whole artifice is put into peril. Trust in the system is now at an extreme low and that points to extreme danger.
The case against euthanasia is much more difficult to promote, not because it is weak — it is not — but because it is much more complex.
No one on either side of the debate wants to see people suffer and the euthanasia debate is not about if we will die — we all will at some point. The debate is about how we will die and whether some ways of dying, namely euthanasia, are unethical and dangerous, especially to vulnerable and fragile people, and destructive of important shared values on which we base our societies.
Like the best religious poetry, Dylan’s works resists easy interpretation and remains open to endless meditation. Dylan’s overtly political songs — ‘Hurricane’, ‘Political World’ — and love songs — ‘Idiot Wind’, ‘Tangled up in Blue’ — have often been challenging. It’s the same with his religious output.
Over forty years ago I drew on the doctoral work of Bridget Puzon to produce The Second Journey and reflect on midlife journeys. Human history, as I realised then and later, throws up everywhere examples of such journeys: from Abraham and Sarah to Moses, from Paul of Tarsus to Mother Teresa of Calcutta, from Dante Alighieri to Eleanor Roosevelt, from John Wesley to Jimmy Carter, from John Henry Newman to Dietrich Bonhoeffer.
The debate about the future of work, and therefore UBI, was hijacked by a reductive media narrative around ‘the robot question’ and this has made it hard to recognise the complex nature of the changes underway.
But although the Coalition will never admit it, it looks suspiciously like there has been some bipartisan institutional learning about how to manage financial crises. If you want to stimulate an economy in times of crisis put the money directly into the economy, either into people’s pockets or to businesses who then pass it on to workers.
It is one of the ironies of Australian political history that a policy that has profoundly benefited this country’s version of capitalism came, not from the right, but from the Labor party and unions. The mandating of superannuation payments in 1992 under the Keating government has profoundly changed Australia’s financial system.
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