Keywords: Debt

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  • ARTS AND CULTURE

    Our hopes and fears for 2022

    • Barry Gittins
    • 14 January 2022
    1 Comment

    We’ve been in a pressure cooker, these past two years. More than a score of historians had memorably described 2020 as the sixth-most ‘stressful year ever’. Predictions and speculations look ahead; I looked at the past trends of the past two years and make these humble observations. With the stage set for dire times, here are six trends to look for in 2022. Here’s hoping.

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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

    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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  • 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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  • ARTS AND CULTURE

    LinkedInglese

    • Michael McGirr
    • 02 September 2021
    15 Comments

    There is a curious world called LinkedIn, a social media site for people trying to nurture their careers. The problem with it is that the participants are expected to take themselves more seriously than they might in what we used to call real life. LinkedIn has a culture of self-importance that cracks me up every time. There is nothing quite as funny as utter humourlessness. 

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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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  • ARTS AND CULTURE

    The plight of the sandwich generation

    • Kate Moriarty
    • 02 August 2021
    5 Comments

    Once stereotyped as the MTV generation, a gang of apathetic, disaffected ‘latchkey kids’, Gen X has grown to middle age. We are now the sandwich generation. Many of us care for young children at home. Many care for our ageing parents. Many do both at the same time.

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  • ECONOMICS

    Why corporatism, not capitalism, is the root of social harm

    • David James
    • 06 July 2021
    16 Comments

    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.

    READ MORE
  • AUSTRALIA

    The inhumane logic of Australia’s refugee deterrence policy

    • Andrew Hamilton
    • 24 June 2021
    32 Comments

    Deterrence has an inner logic that we can see in Australian treatment of people who seek protection. In the first place it tends to become increasingly brutal. Each breach of policy must be met with a more effective deterrent.

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