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They vastly outnumber journalists, their industry is far bigger than the shrinking media organisations, and the concentration of media ownership means that they can do deals with proprietors. Understanding that the trail with fake news leads to the spin doctors can be a useful way to detect what is, and is not, propaganda.
While money can be transacted for things that are bad — air pollution, road deaths, cigarette ads — as long as more transactions occur, it creates the illusion the economy is growing, which, ipso facto, is good. Thus, Japan's GDP rose sharply after the tsunami disaster. New Zealand's initiative will track better what is really happening in the country.
The globe is being split into two, with Australia nervously sitting between the two sides: America and China. At least we have a trade deficit with America so are not an immediate target. But we might want to consider becoming more self-sufficient and broadening our industrial base.
At 4am on a cold morning, my brother phoned from the hospital. My final conversation with my mother, while harrowing, was not unexpected. My attempts to thank her for who she was and what she had given to me did not suffice. Mother Merle was in a hurry to leave this life, and the cancer that had drained her strength. She was over it.
The Australian economy rests on a decades-long property gamble that has disenfranchised younger generations. It is why the differing policies of the two major parties at the federal election take on an unusual significance. The voters' choice will go a long way towards determining if that generational split will get better or worse.
The isolation is familiar — like the Mauritius I grew up in, but these swans also capture a different Australia to the one I have known until now. What appears spectacular to a tourist travelling in an air conditioned car remains brutal for the locals, as evidenced by the drought and near ghost towns forced to reinvent themselves through tourism.
Here's a suggestion. In order to halt the seemingly inexorable destruction of the humanities in our secondary schools, we should immediately sack any senior Education Department bureaucrat who has an MBA. Or perhaps they can be forced to reapply, unsuccessfully, for their old jobs. They like that kind of thing.
It has been postulated that there are three types of war: kinetic, informational and economic. America has been losing its kinetic conflicts in the Middle East and recently has escalated its informational war. The favoured weapon with economic warfare is sanctions, and Trump has started to use them to an extreme degree.
If you wish to peer into the heart of darkness, the nexus between big oil and big money is a good place to start. Those who control the energy market and the financial markets control the world. The latest victim of this brutal intersection is Venezuela, a country that has made the mistake of having the biggest oil reserves in the world.
One of the most basic distinctions in finance, with which any stockbroker or fund manager is familiar, is that between equity and debt. As the global economy teeters on the edge of a debt and banking crisis, with global debt more than 300 per cent of global GDP, the merits of equity is something that needs to be better understood.
In this season, I usually re-read A Christmas Carol, that timeless tour de force of the Dickensian imagination. The second spirit, the Ghost of Christmas Present, takes Scrooge to the shops, where the former restores good humour to squabbling delivery boys. For, they said, it was a shame to quarrel on Christmas Day.
The problem goes much deeper than a few crooked operatives and it will not be fixed by changing the corporate 'culture'. The fundamental evil is the arithmetic of compound interest. Interest on debt rises exponentially, while economic activity is linear. That means that sooner or later those in a weaker position are unable to pay.
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