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Here's a story. A man who was a soldier in the American army in Iraq tells it to me. A friend of his, one of his best and closest friends, was nearly pierced through by a bullet fired by a sniper. American surgeons removed the bullet and discovered it was a 5.56mm cartridge manufactured in Lake City, Missouri. For profit.
Australia is very much the 'Noah's Ark' economy: two of everything. Consider the spate of industry sectors in which only two companies dominate: airlines (Virgin and Qantas); paper and packaging (Visy and Amcor); print media (News Corporation and Fairfax). The Federal Government's announcement that it will be launching a 'root and branch' review of Australia's competition law will, at the very least, make for a fascinating spectacle.
America is fond of claiming exceptionalism, which is usually little more than an indication of its attitude to moral accountability. But in one area America definitely is exceptional: the global currency markets. There is no risk of the market for American dollars drying up, which means that a default by the American government is, while significant, not especially relevant to what happens with the global trade in US dollars.
Author Kathy Lette recalls: 'We girls were little more than a life support system to a pair of breasts ... Once I realised Germaine Greer wasn't just rhyming slang for beer, I wanted to write down our story.' Puberty Blues is what you get when teenage girls with a grudge show the world what they're made of.
Recent events both aeronautical and financial have been enough to scare anyone off banks and aeroplanes forever. Global economic chaos is nothing compared with the trauma of being stuck next to a large person on a plane.
The tertiary level is designed to promote change and innovation. If there is no tertiary level, there is no growth in our understanding of global religious systems, and no emerging individuals who possess critical thinking skills and historical knowledge of these systems. Without these individuals, there’s a risk that religious institutions will become more insular, regressive, disconnected and, most disastrously, unchecked.
Our economy is 1.1 per cent larger than a year ago. Yet, as the situation in Victoria reminded us, none of us are safe unless all of us are safe. And we cannot be safe while work remains increasingly insecure, while social security payments are inadequate and while our public infrastructure is found wanting.
In Victoria the latest lockdown has prompted fresh questioning of the business-as-before approach to life after COVID-19. In particular it urges renewed reflection on the connection between the remuneration of work and its importance to society.
The fact is that money still buys a better service from the legal system, and to claim otherwise is to throw out the most basic principles of an economy. After all, if there were no benefit to be gained from backing up a truck full of money and tipping 30 or 40 grand a day into a team of silks, junior barristers and top tier solicitors, why would those with the means do it? To argue the contrary beggars belief. And if the observation is accepted, what does that tell us about the rule of law?
The emptiness is dispelled as I pull into Broome, a frontier city located on Western Australia’s Kimberley coast. The city centre, currently undergoing a major revamp, buzzes with pedestrians. Restaurants require booking. Down on Cable Beach, cameleers are lining up their charges for sunset rides and road-trippers are driving onto the wet sand and setting up camping chairs and cracking beers as they settle in for the show of a lifetime.
It is one of the ironies of Australian political history that a policy that has profoundly benefited this country’s version of capitalism came, not from the right, but from the Labor party and unions. The mandating of superannuation payments in 1992 under the Keating government has profoundly changed Australia’s financial system.
The health of the Great Barrier Reef is now in critical status. And with current efforts to limit global warming to 1.5 degrees far from sufficient, suffice it to say, things are not looking so great for the Great Barrier Reef. Restoration efforts are designed to help guide the Reef through the next few decades of locked-in warming but, they will only be effective if we combine them with a serious reduction in global emissions.
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