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Keywords: Debt

  • ECONOMICS

    Japan could lead the way in forgiving debt

    • David James
    • 14 May 2018
    4 Comments

    As the world economy groans under soaring levels of debt, the place to look is Japan, whose current government debt-to-GDP ratio is an eye watering 253 per cent. It is Japan, which led the developed world into this mess, that is likely to lead the world out of it by cancelling debt. The consequences of such a move would be far reaching.

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  • INTERNATIONAL

    Our flailing aid created a Pacific problem

    • Eliza Berlage
    • 19 April 2018

    China and India are rising global powers, thanks to a burgeoning middle class, huge export markets and military might. So why wouldn't they take the western retreat from the Pacific as an invitation to dance? But their support comes with a crippling debt levels and the potential for a favour to be called in down the line.

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  • ECONOMICS

    In the end, debts cannot be paid

    • David James
    • 08 November 2017
    3 Comments

    Once upon a time, usury was considered a sin and lending was subject to strict controls. Now, the world is in the grip of usury. It cannot continue. At some point it will have to be retired, or swapped to equity. A good place to start is third world debt, which is the most immoral variant.

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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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  • PODCAST

    ChatterSquare S01E07: Good or bad debt, the first 100 days of Trump, and Pope Francis talks TED

    • Podcast
    • 02 May 2017

    Is there such a thing as bad debt when it comes to national budgets? Is infrastructure spending a great idea by default? We also take a glance at the first 100 days of the Trump presidency. As an antidote, we finish with a quick reflection on the latest moves by Pope Francis.

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  • AUSTRALIA

    Not such a super way to buy your first home

    • Francine Crimmins
    • 14 April 2017
    15 Comments

    As a millennial, I frequently find myself being told to stop complaining about housing affordability. It's all about working harder, saving more and, for goodness' sake, keeping off the avocado. As a young person, I'm concerned about using super, a system which was put aside for our economic welfare in retirement, as a savings account for instant gratification. The government is trying to solve the housing crisis not through direct action, but by encouraging young people into lifelong debt.

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  • AUSTRALIA

    The rule of law applies to government too

    • Kate Galloway
    • 20 March 2017
    17 Comments

    ACTU secretary Sally McManus' comments about the rule of law have sparked a lot of chatter on news and social media. While the rule of law arguably does assume citizens will obey the law, it also assumes government will behave lawfully. Further, it might be argued that the rule of law encompasses the principled application of government power. In this respect, the Australian government is itself falling well below adhering to the rule of law. I offer Centrelink #notmydebt as a case study.

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  • ARTS AND CULTURE

    We will never be free of all our debts

    • Sandra Renew
    • 20 February 2017
    4 Comments

    Observing the decades long incident is unbearable - although they have fallen beautifully time is not on their side, their ideals are consigned to fire. But do we care so little that when the fates convene and humans fail sumo-sized jelly fish and yellow crazy ants and ubiquitous spiders will be all that's left? Do we care so little and think we are free of all our debts? Did we think we were never so needy as to sell our dreams?

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  • AUSTRALIA

    Alternative facts in the Centrelink debacle

    • Kasy Chambers
    • 03 February 2017
    12 Comments

    Centrelink's new policy of automated online debt collection has been subject to conflicting reports. The Minister and the department head are sticking to the assertion that everything is working fine. Yet there is another version of the truth, seen in the growing list of people talking publicly about the distress caused to them by being falsely tageted. One difficulty with the process is that the adversarial manner that it set up is unlikely to allow Centrelink to learn from the cases it reviews.

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  • AUSTRALIA

    Pope Francis and the age of automation

    • Michael McVeigh
    • 20 January 2017
    7 Comments

    Many have called for the automated Centrelink debt collection system to be scrapped, but the government is standing by it. One of the reasons for this may be that the system is doing just what it's designed to do - trying to force people away from welfare reliance by making it more onerous. Pope Francis argues that far from a 'neutral' tool, technology creates a framework which conditions people and limits their possible options along lines dictated by the most economically and politically powerful.

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  • ECONOMICS

    Labor's negative gearing heroics alone won't save us

    • David James
    • 26 February 2016
    8 Comments

    It is not often that federal political parties exhibit courage. Labor's decision to change the rules on negative gearing is a rare instance. It targets what is most dangerous and unfair in our financial system. Expect howls of protests from powerful lobby groups if it ever looks like becoming policy. But these changes alone won't be enough to deal with the ills of the financial system. While they are designed to target the bias away from productive investment, they won't remove the attraction towards property.

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  • ECONOMICS

    Consequences loom for global debt binge

    • David James
    • 19 January 2016
    11 Comments

    Low interest rates tend to change the understanding of risk; having high debt seems to be less of a problem because the cost of servicing it is lower. This cavalier attitude has been especially evident in Australian households, which have racked up more debt relative to the size of the economy than any other country in the world. The massive appetite for debt has been replicated across the globe. The world may have survived the era of casino money - just - but it is now facing another crisis.

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