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There is a three-way battle looming over the future of money and the stakes could scarcely be higher. Conventional money, mainly debt created by banks — the ‘folding stuff’ is only a tiny proportion of the total — is in trouble. Total global debt is now so large relative to the world economy it cannot be serviced, which is why monetary authorities have resorted to dropping interest rates. When they almost hit zero, the next step was quantitative easing (QE): printing money by getting the central bank to buy back government and corporate bonds and putting them on its ‘balance sheet’.
As restrictions drag on and the number of infections rises, more Australians are asking when lockdowns can cease. Federal politicians and business leaders have argued the case for a quick ending while claiming the authority of scientists. Science being science, the relevant questions have been tied to numbers. They have asked: how few cases should there be in the community before leaving lockdown? What percentage of the community must be vaccinated before the lifting of restrictions? What number of deaths should be tolerated for the gains of opening the economy? And when precisely should the opening of Australia take place?
In July, Anthony Albanese announced a significant change of stance on Labor tax policy which was disappointing, if not surprising. An elected Labor government, Albanese promised, would keep the coming high income tax cuts he previously opposed. This decision to not oppose the government proposal to restructure the income tax system through reduced marginal rates is supporting a government policy that will lead to a significant redistribution of wealth towards high income earners.
Most early commentary on the swift coming to power of the Taliban in Afghanistan has focused on how it happened and who was to blame for it. Much of the blame has been focused on United States President Biden and former President Trump. Increasingly attention has turned to the plight of people in Afghanistan, particularly women and those who helped the occupation forces and women.
Whatever one thinks of the Census21 campaign, I agree with the implicit aim: all people should be honest in answering the Census questions. It doesn’t matter whether one is affiliated to a major religion, no religion, or has another spirituality not listed, it is crucial that we give compete answers that reflect our real lives.
When you put rising housing costs alongside stagnating wages, an alarming trend in normalising insecure work, persistent unemployment and underemployment, and statutory incomes that are going backwards in real terms, there’s good reason to be deeply worried about an increase in homelessness.
Critical Race Theory, which has recently been banned ineffectively by the Australian Senate from the National Curriculum, has everything going for it as a lightning rod. It has an acronym (CRT), opacity and an air of self-importance. It is also associated with a controversial social movement: Black Lives Matter. The theory does not need to be understood before generating heat.
The despair induced by daily infection and death tallies would be, in normal times, ameliorated to some extent by one’s workaday routine. And the crisis would be borne in togetherness — an impossible response, since the pandemic calls on us to withdraw into ourselves rather than draw together.
The question of reconciliation in the Church is particularly pressing, given 2021 marks the 250th anniversary of the arrival of Christianity in Australia, and the 150th anniversary of the arrival of Christianity to the Torres Strait. Yet many First Australians recognise that the Spirit of God was poured out onto the original inhabitants of this great Southern Land many, many thousands of years prior.
Looking from outside at the debates among American Catholics about whether President Biden should be refused communion has been a little like watching the crowd in a Rangers v Celtic game in Glasgow. Much that was said and done fervently in the name of faith showed little familiarity with it. To understand the issue we must enter the Catholic imaginative world in which the Eucharist is central.
But it is possible the members of the Plenary could begin to hear a deeper voice speaking in their hearts. There may arise a new courage to start a process of truth and reconciliation, reporting the process of this journey to the second Plenary Council planned for Sydney, July 2022. We can only begin that journey if members of the Plenary Council come and are open to listening to that deep inner voice.
We should resist the pressure to regard China as our enemy. The pressure to do so is powerful, given the cycle of retaliatory words on both sides that further poison relationships. The impetus to enmity, however, damages both sides. To treat people as enemies means that they become enemies, with the result that both sides will spurn the mutual exchanges that can help each.
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