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Keywords: Banks

There are more than 200 results, only the first 200 are displayed here.

  • ECONOMICS

    Out-of-control house prices requires a different approach

    • David James
    • 11 May 2022
    3 Comments

    In purely economic terms, the upcoming Federal election is extremely unusual. The shut down of the Australian economy for almost two years because of health measures really has no precedent in our history. Only war can produce that type of shock. The Federal government’s financial response was as extreme as the state of emergency measures, including a sharp increase in Australian government debt. It remains to be seen, however, if the government gets much credit for injecting so much free money into the economy. It is unlikely.

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  • ECONOMICS

    What will rising interest rates mean for wealth inequality?

    • David James
    • 01 March 2022
    3 Comments

    Australia’s Reserve Bank mainly concentrates on keeping inflation within an acceptable range and maintaining a high level of employment. Social equity has never been considered to be part of its mandate. It should be. Interest rates have been the biggest cause of economic and social division in Australia, not just between rich and poor, but also between older and younger generations. 

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  • AUSTRALIA

    Juvenile injustice

    • Julian Butler
    • 22 February 2022
    4 Comments

    Having previously spent time as lawyer working predominantly in the Children’s Court of Victoria, there isn’t too much about the State’s treatment of young people that shocks me. That is, until a few weeks ago when I was drawn to the final item of The Weekend Australian’s editorial column. Under the heading, ‘Hurt boy’s inhuman treatment’, was set out the details of a 15-year-old West Australian boy who had been ‘locked alone in a glass-walled observation cell of a juvenile detention centre in the southern suburbs of Perth for 79 days.’    

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  • ECONOMICS

    Best of 2021: Why corporatism, not capitalism, is the root of social harm

    • David James
    • 04 January 2022

    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.

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  • ECONOMICS

    Why Australia’s rural sector is ripe for financial reform

    • David James
    • 06 December 2021
    1 Comment

    If Australia does draw back from globalisation — as opposed to trade, which will continue — then there should be more focus on our primary sector and how it could be better financed. Australia’s long history as a primary producer constitutes what economists call a ‘comparative advantage’: an economic area in which a country does best while giving up the least.

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  • ECONOMICS

    Climate change trillions

    • David James
    • 08 November 2021
    1 Comment

    The Glasgow United Nations Climate Change Conference has been advertised as an effort to focus on sustainable environmental solutions. What got much less attention, if any, is that it is probably at least as much about having a sustainable financial system. Many noted that China, did not send its leader: Xi Jinping, president of the world’s greatest CO2 emitter. There was also another significant absence: the financiers who are hoping to profit from the trillions allocated into climate change projects.

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  • ARTS AND CULTURE

    Climactic events in Royal Park

    • Andrew Hamilton
    • 26 October 2021
    2 Comments

    These weekday mornings all is quiet. / I stroll across the highway, / a piddle of cars in the outbound lane, / a puddle at the distant lights. / Along the parkland trail / cowled figures walk alone, / measuring their distance. / From the rise above the railway cutting / Macedon stands burly in the smoke-free air.

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  • ECONOMICS

    A strange financial circus

    • David James
    • 12 October 2021
    3 Comments

    Over the last two years, money printing has created the illusion of strength in savings. But when reality resurfaces, and actual returns are required from actual economic and business activity, the global financial system will come under extreme stress. 

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  • RELIGION

    The Plenary Council: Restoring the Third Rite

    • Bill Uren
    • 05 October 2021
    14 Comments

    As a result of the pandemic, like other religious observances, the availability of the Sacrament of Penance has been drastically curtailed, and it is unlikely that recourse to the sacrament will be as frequent as previously even when the restrictions are lifted. Further, the confidence of the laity in the inviolability of the seal has, understandably, been undermined, a consequence of which may again be that recourse to the sacrament will be in decline. 

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  • ECONOMICS

    The battle for the future of money

    • David James
    • 07 September 2021
    4 Comments

    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’. 

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  • INTERNATIONAL

    Why Afghanistan matters

    • Andrew Hamilton
    • 24 August 2021
    14 Comments

    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. 

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  • ECONOMICS

    Why inflation isn't higher

    • David James
    • 12 August 2021
    4 Comments

    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.

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