Keywords: 2008 Recession

  • ECONOMICS

    The economy is never as good as it looks and never as bad as it seems

    • David James
    • 04 May 2021
    2 Comments

    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.

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  • INTERNATIONAL

    Food insecurity, health privilege and COVID-19

    • Maddison Moore
    • 01 September 2020
    2 Comments

    The global impact of COVID-19 has further increased inequality in food security, with nations already facing widespread famine, malnutrition and food insecurity being hit the hardest.

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  • ECONOMICS

    The great economic rethink?

    • David James
    • 20 August 2020
    6 Comments

    There will be Great Reset in finance and economics. It is inevitable because the shock has been so great. The first problem is what to do with global debt, which was already at unsustainable levels before the virus hit: over 320 per cent of global GDP. The only way to prevent system-wide failure has been to lower interest rates to near zero levels.

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  • ECONOMICS

    Inside US and China's dodgy economies

    • David James
    • 07 September 2019
    6 Comments

    One of the ironies of the intensifying tariff war between America and China is that that neither of the two giants seems to have a viable economic model. Both countries' systems are based on dodgy financial engineering and printing money, or just inventing new types of money out of thin air.

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  • AUSTRALIA

    A common good frame for economic stimulus

    • Joe Zabar
    • 26 August 2019
    3 Comments

    While the current economic climate is cause for concern, it is not the time to panic. A more sensible alternative to austerity is for governments, business, unions and charities to look for ways we can together soften the impact of any global downturn. This will require bipartisan agreement to sacrifice some or all of the budget surplus.

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  • ECONOMICS

    Lehman Brothers and the next GFC

    • Binoy Kampmark
    • 13 September 2018
    2 Comments

    It has been a decade since the banking aristocracy Lehman Brothers filed for bankruptcy in what would be the chant of doom that became the Global Financial Crisis. Today, the legacy of Lehman Brothers and the crisis it helped precipitate supply warnings of the next shock.

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  • ECONOMICS

    Economic doom looms in Oz's game of homes

    • David James
    • 12 December 2017
    1 Comment

    It is not difficult to imagine a scenario where the game of musical chairs in Australia will come to a shuddering end, imperilling the banks and dragging the economy into a deep recession. As we saw in the GFC in America and Europe, government money will be thrown at the banks to rescue them at the expense of ordinary citizens.

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  • ECONOMICS

    Consequences loom for global debt binge

    • David James
    • 19 January 2016
    11 Comments

    Low interest rates tend to change the understanding of risk; having high debt seems to be less of a problem because the cost of servicing it is lower. This cavalier attitude has been especially evident in Australian households, which have racked up more debt relative to the size of the economy than any other country in the world. The massive appetite for debt has been replicated across the globe. The world may have survived the era of casino money - just - but it is now facing another crisis.

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  • AUSTRALIA

    Unskilled immigration is good for Australia

    • Gabriela D'Souza
    • 09 November 2015
    10 Comments

    George Megalogenis describes a protest rally in 1849 organised by residents of Sydney against arrivals of more convict boats. Workers who 'wanted to maintain their high-wage society' made 'the first of countless calls that would be made against migrants who threatened to undercut their standard of living'. It is a familiar refrain today. In a world where three-fifths of a person's income is determined by their place of birth, it defies logic that we place restrictions on people's movement to preserve our standard living.

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  • AUSTRALIA

    The financial crisis the Government wants us to have

    • Colin Long
    • 09 February 2015
    19 Comments

    The Coalition Government falsely claims that Medicare co-payments and cuts to welfare and publicly funded institutions such as the CSIRO and the ABC are necessary to 'fix Labor's mess'. There are indeed structural problems with the economy, but essentially the plan is to strip the public sector by cutting universal access to a range of services that also includes tertiary education, to create a dominant free market that marginalises Australians on low incomes.

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  • ECONOMICS

    Australia's delayed GFC

    • David James
    • 08 September 2014
    7 Comments

    What is only now starting to come into focus is the extent to which the whole economy is in hock to house prices. A sharp fall in the housing market will put intense pressure on our major lending institutions, leading to a deeply depressing effect on all parts of the economy. The regulators, as ever, are taking a hands-off approach.

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  • ECONOMICS

    Commbank plunder part of new world economic order

    • David James
    • 07 July 2014
    7 Comments

    As the Pope and economist Thomas Pikkety have observed in recent times, the inequity created by capitalism is a growing concern. But the problem with this argument is that 'capitalism' is too broad a term. The attack would be far better directed against the financialisation of developed economies. A new type of sovereign has emerged, and like all rulers they are cheerfully engaging in acts of plunder.

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