Eureka Street

Keywords: Fina

AUSTRALIA

Matters of interest
- David Halliday
- 14 November 2022
How much financial strain can a system tolerate? With families simultaneously staring down the four horsemen of wage stagnation, higher prices of goods, higher bills, and higher mortgage repayments, something’s got to give.
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ECONOMICS

Managestocracy
- David James
- 28 October 2022
Who wields the most power in the world? If one follows the money trail, it becomes clear that Western societies have become ruled by a new type of aristocracy: a management aristocracy.
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ECONOMICS

Real world problems can’t be solved by finance fictions
- David James
- 18 October 2022
3 Comments
The world is facing cross-currents: a collapsing financial system that is balanced by the benefits of massive, long term improvements in production efficiencies, mainly because of technological advances. It is a bad news/good news story that can only be seen accurately if the intractable errors of contemporary economics are jettisoned. We are in a battle between finance fictions and reality.
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ECONOMICS

Blowback to Russia sanctions in Europe as gas crisis looms
- David James
- 03 October 2022
5 Comments
For Europe, especially Germany, there should be enough gas in storage to limp through winter but by next spring there may be severe trouble. The leaders of Europe and the United States expected that they would win the economic war against Russia and force the invader to withdraw. Not only did that not happen, it is likely to lead to severe unintended economic consequences.
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ARTS AND CULTURE

Stray thoughts: Striving for solemnity
- Andrew Hamilton
- 03 October 2022
In the last few weeks, we have been drowned, smothered or mired in words that have striven for solemnity. Such occasions as the death of Queen Elizabeth II and the various Grand Finals are held to transcend the everyday and so to demand elegiac or epic words. It is easy to laugh at the manifest failures to reach those heights, whether by Poets Laureate who should have known better, or by excitable journalists. There is, however, something endearingly human in the attempt.
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ECONOMICS

Why we need new rules for money
- David James
- 23 August 2022
4 Comments
Now that it is becoming hard to avoid just how much trouble the global financial system is in, it is interesting to speculate about what should be done about it. The first thing to understand about the global financial system is that the assumptions that were used to shape it are demonstrably false.
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AUSTRALIA

Former detainee seeks compensation for unlawful detention
- Maeve Elrington
- 02 August 2022
3 Comments
Former detainee, Kurdish-Iranian refugee Mostafa ‘Moz’ Azimitabar, seeks compensation from the Federal Government for what he alleges was unlawful detention. Detained offshore in Papua New Guinea (PNG) and in Australia for almost eight years, Moz is seeking compensation in the Federal Court of Australia for the physical and emotional toll of his detention, particularly from the final 14 months of detention in two Melbourne based hotels.
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ECONOMICS

Why debt forgiveness may be inevitable
- David James
- 25 July 2022
3 Comments
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.
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ECONOMICS

Rising interest rates point to a larger problem
- David James
- 28 June 2022
3 Comments
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.
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RELIGION

Plenary Council fails to embrace Pope Francis’s wider social vision
- Bruce Duncan
- 21 June 2022
3 Comments
Some 278 Catholic bishops, clergy, religious personnel and lay people will meet as members of an unprecedented Plenary Council during 3-9 July to finalise the resolutions of their first assembly last year. However the May working document ‘Framework for Motions’, despite much worthy content, especially on Indigenous affairs, relies on a narrow notion of mission overly focused on inner-church issues at the expense of the wider social engagement that Francis emphasises.
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RELIGION

What can we expect from the Plenary Council? A Roundtable
- Geraldine Doogue, Greg Craven, John Warhurst, Julian Butler
- 17 June 2022
3 Comments
After four years, the Fifth Plenary Council of Australia is nearly at a close with the second and final assembly in July. So what has been the significance of the Plenary Council so far, and what can we expect from the final session? In this Roundtable, Geraldine Doogue, John Warhurst, Greg Craven and Julian Butler reveal their hopes and expectations for the process and discuss likely outcomes.
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AUSTRALIA

Deliver us from our necessities
- Andrew Hamilton
- 16 June 2022
After the Election media focus has now switched from the fresh personalities and style of the new Government to the difficulties that face it. These include the financial pressures created by heavy debt and inflation, the constraints imposed by pledges made before the election, an energy crisis, international conflicts and their effects on trade, and differences within the Party. Faced by such challenges the Government is unlikely to be able to fulfil its promises and its supporters’ hopes.
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Keywords: Fina