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The COVID-19 pandemic is starting to ease, but the economic and financial fall out has just begun. It is not as if the world economy was in good shape before economic activity was slashed and entire industries were shut down. Those fault lines are only going to worsen, and the consequences might be very dark.
This year the celebration of Anzac Day will be muted. No marches, no large reunions, few speeches at war memorials. The soldiers and others who lost their lives in war will be remembered, however, as they should be. Indeed, the celebration will perhaps speak more eloquently because of its simplicity.
The world-wide chaos caused by the outbreak of the coronavirus has underlined a lesson that was only partly learned in the Global Financial Crisis of 2008. In a more interconnected world the understanding of system-wide risk needs to be much better than it is.
To think of life after COVID-19 is daunting. The changes that it has brought to our daily lives have been vertiginous. Our awareness of its potential harm is still limited. We are only beginning to catch sight of the grim beast that slouches towards us threatening death and devastation in coming months.
This behaviour did not come out of nowhere. It has been carefully cultivated through over 40 years of neoliberal economic policies that have made it blatantly clear to people that they are on their own and will absolutely be left to fall if they don’t scramble their way to the top of the heap — supported, if necessary, by their own accumulated rolls of toilet paper.
We live in an era of hyper-transactionalism, whereby most of what we do is subject to the exchange of money and market pricing. Whereas in the past much of humanity was bound to a political system, now most of us are bound to a globalised monetary system.
Pope Francis’ 'Querida Amazonia' (Beloved Amazonia) has been warmly received by many members of the Aboriginal and Torres Strait Islander Catholic community. The tone of the exhortation is reflective of the position that underpins our vision for the Church in Australia — a Church that is open to the gifts of First Nations Catholics, honest to the past and embracing of a new way of thinking that utilizes the principle of subsidiarity.
Growing up I cringed at Asian representation in film and television. More often than not we were cast as nerds, martial artists or second to the plot. We had little depth to our characters, which continuously perpetuated racial stereotypes — stereotypes that still exist today.
A shift is afoot in the west's financial markets that represents the most important economic change since the emergence of the new financial instruments in the 1990s that ultimately led to the global financial crisis. It is likely to result in a new way of thinking about money, which will change the substructure of developed economies.
Dance and music are as innate as breathing. Babies dance while in the womb, and the Yuletide can be prime time for 'playing music, singing and dancing [as a] healthy outlet for their emotions'. As William Stafford observed, kids dance 'before they learn there is anything that isn't music'.
The uncertainties are not ended by last week's announcement. The statement only vaguely signals that the Department will 'work' with recipients to identify 'further proof points'. What constitutes a 'proof point'? The government needs to disavow its past conduct in a much deeper, detailed and clear way. Instead, it has gone silent.
At the next global financial crisis, when questions about what we want our monetary system to do for us become a matter of survival, why not devise a transactional system that is not just geared towards the consumption of goods and services, but involves monetary exchanges for social goods, such as sustainable production, or civic benefit?
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