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The question that should be posed is how effective has the Reserve Bank been at ‘managing’ the economy and financial system? ‘Not very’, has to be the answer. Not that the RBA is alone. The same pattern has been seen across the developed world. Central banks have one weapon at their disposal, the cost of money (the interest rate), and there is not much evidence they have used this tool to make their systems sustainable. Mostly, they have made matters worse.
The week of the Plenary Council's Second Assembly, unlike the First Assembly, will largely be devoted to voting. My best guess is that there could be about 100 rounds of consultative votes (including amendments and then thirty amended motions) during the week. This will be followed by deliberative voting by the bishops and their proxies. Before voting there will be many short, sharp speeches from among the 280 members interspersed in the program. This will make for an extremely tight timetable.
Since the Federal Election one of the most refreshing features has been the new Prime Minister’s connection with people. Whether it is shown by riding a bamboo bicycle with the Indonesian President, expressing sympathy for the Nadesilingam family for their prolonged ordeal before returning to Biloela or agreeing with Jacinda Ardern, herself a model of public empathy, about the unreasonableness of expelling to New Zealand people who had never lived there, his actions displayed a readiness to listen and to enter the experience of other people.
Concern about political malfeasance in Australian politics was one of the issues that drove the influx of new members (mainly women) into the Australian Parliament on 21 May, and they are promising a raft of reforms. The astounding thing is that we managed to leverage the change of 21 May 2022 within the confines of a system that inherently favours the status quo, the preferential voting system tending to channel votes back to the major parties.
Despite last week’s decision by the Fair Work Commission to push up the national minimum wage by 5.2 percent, millions of Australians, in all parts of the country, will continue to live in poverty and on survival wages. The facts are that the Commission’s decision takes the minimum wage from $772 a week to $812, an increase of $5.70 a day, not a fortune but better than nothing.
In Australia’s treatment of refugees and asylum seekers, notably those arriving by boat, compassion and fairness have rarely threatened a policy deemed cruel, costly and ineffective. The fate of the Muragappan family has been a continuous, scandalising flashpoint about the nature of Australia’s border protection policies.
The Liberal wipeout in inner-city electorates is without precedent in Australian politics. For the Liberal Party, ‘existential crisis’ is not an overstatement. As the party founded by Robert Menzies finds itself in the hall of mirrors, climate policy should be a major focus of critical self-appraisal.
In his initial speech as leader of the Liberal Party Peter Dutton committed himself to care for the forgotten voters, echoing a foundation document of the Liberal Party: Robert Menzies’ speech after an electoral defeat in 1942 refers to forgotten people to point the way forward for the new party. The phrase was central to a re-imagining of Australian society.
193-200 out of 200 results.