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Search Results: banking

  • AUSTRALIA

    Turnbull friendly fire is mostly undeserved

    • John Warhurst
    • 05 December 2017
    8 Comments

    As Barnaby Joyce, standing beside the Prime Minister last Saturday night after his by-election win, proclaimed: 'Running a country is a little harder than running sheep through a gate.' Similarly, Turnbull must find running a party, much less a Coalition of parties, like herding cats.

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  • ECONOMICS

    World trade is now America versus China (and Russia)

    • David James
    • 23 August 2017
    4 Comments

    The anti-Russian frenzy in the United States amounts to little more than a great deal of evidence that the intelligence community suspects there might be a great deal of evidence that the Russians have been meddling. It has to rank as one of the biggest, and most orchestrated, blind alleys of modern media coverage. When a journalist says an anonymous ‘respected source’ thinks the Russians are up to something, this writer is always left wondering: respected by whom? His dog?

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  • ECONOMICS

    Where is money headed?

    • David James
    • 30 July 2017
    2 Comments

    The daily fluctuations of financial markets and the fractious debates over economic policy are concealing something deeper and much more disturbing. The future of money itself is in question. A decade after world banking almost collapsed in the global financial crisis, the questions raised have not been answered.

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  • MEDIA

    Encryption and liberties on the 'ungovernable' internet

    • Binoy Kampmark
    • 14 July 2017
    6 Comments

    Turnbull's attitude echoes the fear all autocracies have: that control is slipping away, and that citizens cannot be trusted to behave in a modern communications environment without government intrusions. Arguments are repeatedly made that such enlarged powers are never abused - a charmingly naive assumption - and that law enforcement authorities merely need the 'capacity' to have them. These can either abate, or be extended, after a review. The reality tends to be different.

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  • ECONOMICS

    Bitcoin revolution is a matter of trust

    • David James
    • 30 June 2017
    2 Comments

    One of the more interesting recent developments in finance has been the creation of Bitcoin and other crypto-currencies. They are being touted as a revolution in how we think and use money. Alternately, there are many who want to go in the opposite direction, back to the gold standard. Both sides have a common enemy: money whose value is determined by government dictate. Allowing governments to dictate in this way, they argue, is the core of the problem. To a significant extent, they are wrong.

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  • ECONOMICS

    Trump's pro-globalisation critics miss the key questions

    • David James
    • 07 February 2017
    10 Comments

    Many defenders of globalisation express frustration at the rise of Trump and what they see as an ignorant and self-defeating backlash against its virtues. But they have no answer to the most pressing question: Is the global system there to serve people, or are people there to serve the global system? They also never address a central contradiction of globalisation: that capital is free to move, but for the most part people are not, unless they belong to the elite ranks.

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  • ECONOMICS

    It will take more than a royal commission to tame the banks

    • David James
    • 10 October 2016
    2 Comments

    The strategy of the Big Four banks' appearance in parliament was clear enough. Blame the whole thing on a need to improve impersonal 'processes', imply that there have been a few bad apples but overall things are fine, and promise to do better in the future. The greatest challenge was probably to hide the smirks. A royal commission is being held up as an alternative, and no doubt it would be more effective. But a royal commission would not address the main issue.

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  • AUSTRALIA

    Identity politics and the market

    • Andrew Hamilton
    • 05 October 2016
    5 Comments

    In political commentary liberal politics and identity politics are often presented as polar opposites. For supporters of liberal politics the relationship between the two is one between virtue and vice, rationality and emotion, the wise against the mob. I believe that the relationship is more complex, that identity politics shares the same stunted assumptions about personal and national identity as liberal politics, sees the self-interest of the latter, and wants to despoil it.

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  • AUSTRALIA

    What matters after the election is decided

    • Andrew Hamilton
    • 04 July 2016
    17 Comments

    After a plodding election race the stewards have called for a photo. But it looks more likely that Turnbull will be able to form a government. If so, he will need to address the interlocking challenges that we face in order to leave our children a world of possibility. The hope will be muted because both major parties promised little or nothing to address them. But we can take heart that there is certain to be an independently minded senate that can consequently strike down bad policies, and keep asking what kind of an Australia we want.

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  • AUSTRALIA

    Banking royal commission is popular, not populist

    • Andrew Hamilton
    • 26 May 2016
    7 Comments

    The evidence of misbehaviour by banks has become public at a time when the underlying ideology has also been criticised. The inherent unlikelihood that an economy based on individual greed will benefit the whole of society is now patent. It is seen as much more likely that unregulated competition for material gain will lead to the concentration of wealth in the hands of the wealthy and powerful. Evidence now suggests that inequality hinders the economic growth it was presumed to nurture.

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  • ECONOMICS

    Serfs sucked dry in the kingdom of banks

    • David James
    • 18 April 2016
    11 Comments

    Three finance-related events are currently gaining great attention in the media. One is the so-called Panama Papers. Another is the proposal to have a royal commission into the banks. And a third is the furore over the unaffordability of homes and the debate over negative gearing. On the surface they would seem to be quite separate issues. But all three issues demonstrate yet again that banks are, if not the most malign organisations on the planet, then certainly among the most dangerous.

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  • AUSTRALIA

    Budget for a post trickle down theory world

    • Fatima Measham
    • 18 April 2016
    10 Comments

    People are sensitised to government-enabled corporate excess and doubt elected officials are capable and willing to serve their interests. The lesson from the 2014 federal budget is that there are non-negotiables around the function of government: to provide the conditions that ensure the flourishing of all citizens. Yet in terms of future-proofing living standards, the Coalition has so far presided over an ideas bust rather than boom, unless boom is the sound of something spontaneously combusting.

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