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Most early commentary on the swift coming to power of the Taliban in Afghanistan has focused on how it happened and who was to blame for it. Much of the blame has been focused on United States President Biden and former President Trump. Increasingly attention has turned to the plight of people in Afghanistan, particularly women and those who helped the occupation forces and women.
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.
The souring of relations with China is driven not just by prime ministers, foreign and defence ministers, or even by Cabinet. It is the product of converging interests with immense reach and influence.
It is axiomatic that all intelligent people consider polls on political intentions to be unreliable. That no doubt says something about the mental acuity of those of us who duly glance at the news poll every month or so. The breakdown of the figures of this and similar polls, however, was interesting. It showed that support for the Prime Minister had declined substantially among women, but had remained steady or increased among men.
Pope Francis is the first Pope to ever visit Iraq. Although Pope Francis only spent three days in Iraq, his visit received much attention and support from the Iraqi Government and was of major interest to Iraqis both in Iraq and here in Australia. I spoke with several Iraqis in Australia in order to hear their thoughts on this historic visit.
Social media companies are adopting a strategy that may go down in history as among the worst corporate mistakes ever. Google and Facebook are now monopolies and, like all monopolies, they no longer see their main interest as serving customers but rather to capture governments in order to protect their market dominance.
Last Thursday, Facebook blocked news content in Australia. Many of us had been expecting this in response to the News Media and Digital Platforms Mandatory Bargaining Code. But the breadth and severity of what occurred was brutal. The content blocked was not only that of large media companies. Public interest, not-for-profit, and religious media — many of whom rely heavily on Facebook to share messages with their readers — were blocked as well.
3 December has a couple of interesting resonances for this blind Jesuit. It is the feast day of St Francis Xavier — Jesuit missionary extraordinaire. It is also the International Day of Persons with a Disability. It seems to me that the two anniversaries have more than a little in common — both in what they tell us about the limits and the promise of human life in the image of God.
One of the minor annoyances of the United States election was how unreliable the polls turned out to be, particularly in some key swing states. Unsurprising, but still annoying for those hoping for a massive repudiation of the Trump presidency. In the large scheme of affairs the failure of the polls to predict is insignificant, but it does raise interesting questions about its implications for public life in the United States and in Australia.
There will be Great Reset in finance and economics. It is inevitable because the shock has been so great. The first problem is what to do with global debt, which was already at unsustainable levels before the virus hit: over 320 per cent of global GDP. The only way to prevent system-wide failure has been to lower interest rates to near zero levels.
Most restaurants don’t grow all their own food. Of course, they can and may grow some produce, but their expertise is on the preparation, cooking and plating of the dish. They look to farmers to supply the raw ingredients. This is a pretty good analogy for the role of the national newswire, Australian Associated Press (AAP), which will be closing mid 2020.
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