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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.
Religious authorities may not spend a lot of time pondering the nature of global financial systems, but the Pope's recent comment that 'money has to serve, not rule' suggests it can be useful when they do. Given scope to become rule makers, rather than just people who know how to exploit the rules, financiers have moved themselves to a position of mastery.
Even after the most dangerous financial crises ever seen, finance industry lobbyists still argue that the sector should not be too heavily regulated as that would be counterproductive. This is nonsense. Money is rules. It is a question of who sets the rules and what kind of rules they should should be.
London is burning. Throughout the rest of the world, stock markets are tumbling at a rate not seen since the 2008 global financial crisis. Unemployment in the US and parts of Europe is high and refuses to come down. What we are seeing in Britain could be just the beginning.
In May 2019, Adani Ports entered into an agreement to construct, operate and transfer land held by the Myanmar Economic Corporation (MEC) military conglomerate for 50 years in an investment valued at US$290 million. Such corporate conduct has broader implications. Investing in Adani is not only environmentally unsound but imperilling of human rights.
At the beginning of the Covid-19 pandemic, the government reassured Australia ‘We’re all in this together’ but the truth is that the end of JobKeeper and the Coronavirus supplement payments will leave more than 2.6 million people in poverty.
Right now, there is a fight on for the future of the NDIS. On one side is the Federal Government, determined to have total control over the Scheme, and to change its very fundamentals. On the other side are disabled people across Australia, disability advocacy organisations, allied health workers and disability service providers, urgently telling them to stop.
The controversy over the shares of US video game company GameStop has again exposed what has long been obvious: there is something seriously rotten in the state of the world’s financial markets. It was a battle between a hedge fund, Melvin Capital, which manages $US13 billion, and a small group of ‘amateur’ investors who communicated with each other on a Reddit forum called WallStreetBets.
Come the next set of lights, you won't remember what I look like. You'll all go back to your lives thinking about your wives, girlfriends, kids, parents, brothers, sisters, lovers, friends, husbands, boyfriends, whoever, not me. But I needed a night out in the city and the city spoke back to me when I had no one else to spend the night with.
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