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Despite a post-pandemic bull-run, both the national and international economy are now stalling. Interest rates are going up. Markets are going down. Inflation seems unstoppable. While many factors are to blame for the rising cost of living, a catalysing force continues to be our response to the war in Ukraine.
Journalist and author Elle Hardy spent 15 months researching and writing her 2021 work Beyond Belief: How Pentecostal Christianity is Taking Over the World. She notes the estimation that by 2050, one billion people around the world (one in 10 humans) will be a Pentecostal follower of Jesus (and their pastor).
With $1 trillion of debt accumulating over the last seven years in attempts to establish a National Radioactive Waste Management Facility, the new Labor Government is facing mounting pressure to rethink the nuclear waste storage plan for Kimba.
Two months into a 10-month prison sentence, I was placed in solitary confinement after having a nervous breakdown. I’d originally made a fruitless attempt to keep my breakdown to myself, because I’d been told what would happen if Corrective Services found out I was having mental health issues. One of the first friends I made in prison, like many of the inmates, was suicidal. ‘The best advice I can give you if you’re struggling with your mental health’, he told me, ‘is to do everything you can to keep it from the officers.’
Monetary authorities are caught in an impossible situation. Inflation is rising: it is over 5 per cent in Australia and over 9 per cent in the United States. Inflation is often seen as a way out of excessive debt because it erodes the real value of money and therefore the real value of the debt. But what is increasingly being discussed are ways to cancel the debt.
The question that should be posed is how effective has the Reserve Bank been at ‘managing’ the economy and financial system? ‘Not very’, has to be the answer. Not that the RBA is alone. The same pattern has been seen across the developed world. Central banks have one weapon at their disposal, the cost of money (the interest rate), and there is not much evidence they have used this tool to make their systems sustainable. Mostly, they have made matters worse.
In the context of mass school shootings in the United States, the latest of which took place at Robb Elementary School in Uvalde, Texas, a crude form of deterrence has made an appearance. To be safer, you do not remove guns, but spread them through a policy of mutually assured terror. Any gun toting individual entering the school grounds will think twice before encountering the hail of bullets from a protective teacher. Gun control, accordingly, becomes anathema.
In Australia’s treatment of refugees and asylum seekers, notably those arriving by boat, compassion and fairness have rarely threatened a policy deemed cruel, costly and ineffective. The fate of the Muragappan family has been a continuous, scandalising flashpoint about the nature of Australia’s border protection policies.
The case of the Murugappan family illustrates the punitive and puritanical approach of the previous government towards human beings arriving in Australia by boat and then seeking asylum. The tone of each message clearly reflects totally different attitudes towards the people affected, with special note of the fact that Minister Chalmers rang the family to tell them, and then rang people in Biloela to pass on the news.
The centre of the political system did not so much hold as desert. The vote was a furious, determined and tenacious shout from the estranged centre, a shivering of the timbers. The calibre of individuals elected — many from professions, many with public service outside the traditional party hierarchy of patronage and promotion, and most, women — has not been previously seen in this country’s politics.
Governments lose elections, but Oppositions still must demonstrate that they are a capable alternative. Both the Morrison Coalition government and the Albanese Labor Opposition played their part last Saturday. There were many sub-plots in the pattern of voting, but this election was primarily lost and won in the four biggest mainland cities.
Next week we officially enter winter. The associations of winter are largely negative. They mourn the loss of the summer that has passed. For that reason it may seem incongruous that winter should begin immediately after a Federal Election campaign that ended with the excitement of the people’s choice of a new Government. The potential for a new beginning might fit better with spring.
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