Eureka Street

Keywords: Fina

ECONOMICS

Climate change trillions
- David James
- 08 November 2021
4 Comments
The Glasgow United Nations Climate Change Conference has been advertised as an effort to focus on sustainable environmental solutions. What got much less attention, if any, is that it is probably at least as much about having a sustainable financial system. Many noted that China, did not send its leader: Xi Jinping, president of the world’s greatest CO2 emitter. There was also another significant absence: the financiers who are hoping to profit from the trillions allocated into climate change projects.
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ENVIRONMENT

Scott Morrison’s climate PFFT
- Greg Foyster
- 27 October 2021
8 Comments
After an excruciating few weeks of negotiations with the Nationals — and far too many hours subjected to Barnaby Joyce’s ramblings — the Morrison government has finally announced their predictably underwhelming plan to reach net zero emissions by 2050.
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ECONOMICS

A strange financial circus
- David James
- 12 October 2021
4 Comments
Over the last two years, money printing has created the illusion of strength in savings. But when reality resurfaces, and actual returns are required from actual economic and business activity, the global financial system will come under extreme stress.
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RELIGION

Is it time to re-think seminaries?
- Gideon Goosen
- 23 September 2021
60 Comments
The Final Report of the Royal Commission into Institutional Responses to Child Sexual Abuse identified clericalism as a significant contributor to abuse across religious institutions Australia-wide. Clericalism is rooted in a theological belief that the clergy are different to the laity, having undergone an ‘ontological change’ at ordination, and feeds the notion that the clergy may not be challenged. And according to the report, the culture of clericalism is on the rise in seminaries in Australia.
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ECONOMICS

The battle for the future of money
- David James
- 07 September 2021
4 Comments
There is a three-way battle looming over the future of money and the stakes could scarcely be higher. Conventional money, mainly debt created by banks — the ‘folding stuff’ is only a tiny proportion of the total — is in trouble. Total global debt is now so large relative to the world economy it cannot be serviced, which is why monetary authorities have resorted to dropping interest rates. When they almost hit zero, the next step was quantitative easing (QE): printing money by getting the central bank to buy back government and corporate bonds and putting them on its ‘balance sheet’.
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RELIGION

The challenge of Church leadership
- Andrew Hamilton
- 12 August 2021
67 Comments
Among Australian Catholics the Plenary Council and the preparations for the Synod in Rome on Synodality have aroused hope and stirred scepticism. It is clear that a Church diminishing in numbers of participants in its public life and in its financial resources, and discouraged by the extent of child abuse by its officers, must find new ways. But that the processes of the Council and the Synod will spark fresh energy for change is not a given.
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ECONOMICS

Why inflation isn't higher
- David James
- 12 August 2021
4 Comments
The biggest mystery of the financial markets is why, when the monetary authorities have been printing money with their ears pinned back, is inflation for the most part not a problem? What happens with inflation is crucial to the short-term survival of the whole system. Global debt, which is running at well over 300 per cent of global GDP, is only sustainable because interest rates are exceptionally low (the base rate in Australia is only 0.1 per cent). And interest rates are low because inflation is not a problem.
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ARTS AND CULTURE

Dancer
- Diane Fahey
- 02 August 2021
2 Comments
I'm standing before the portrait of a woman with closed eyes, her hands delicately cupping, almost, her tilted head. In her face, in her composure, a flower-like serenity that speaks of care, reverence.
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ECONOMICS

Teetering on the financial brink
- David James
- 08 June 2021
4 Comments
An often overlooked fact about the financial system is that it entirely depends on trust. When trust starts to evaporate, especially between the big players such as banks and insurance companies, the whole artifice is put into peril. Trust in the system is now at an extreme low and that points to extreme danger.
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ECONOMICS

The economy is never as good as it looks and never as bad as it seems
- David James
- 04 May 2021
2 Comments
But although the Coalition will never admit it, it looks suspiciously like there has been some bipartisan institutional learning about how to manage financial crises. If you want to stimulate an economy in times of crisis put the money directly into the economy, either into people’s pockets or to businesses who then pass it on to workers.
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AUSTRALIA

Are we finally seeing action on Aboriginal water justice?
- Cristy Clark
- 15 April 2021
4 Comments
Recent research has documented some of the historical causes of the ongoing absence of water justice. When the land rights agenda emerged towards the end of the 20th century, deliberate decisions were made to restrict access mostly to land without water rights.
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ECONOMICS

When economic policy transcends political division
- David James
- 08 April 2021
5 Comments
It is one of the ironies of Australian political history that a policy that has profoundly benefited this country’s version of capitalism came, not from the right, but from the Labor party and unions. The mandating of superannuation payments in 1992 under the Keating government has profoundly changed Australia’s financial system.
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Keywords: Fina