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Circumstantial evidence suggests that during the past few weeks we have seen a massive manipulation of monetary policy to support US bank stocks. The manipulation has been played out in plain view, which, of course, is the best place to hide a secret.
This week's ABC TV Australian Story featured property magnate Bill McHarg, who walked away from his job to fight John Howard's inaction on climate change. Research suggests he is a rarity, with most white males with good education and high income downplaying the risk of climate change.
Both Government and Opposition seem committed to economic reform. But the fact that the Howard Government's fiscal policy is currently being steered by a drunken sailor is cause for alarm, as is Kevin Rudd's lack of experience and seeming inability to come up with his own economic policies.
Investors are buyers of financial products and services and this affords them a unique opportunity to shape the nature of markets and financial institutions. They should not be shy to use their power to promote sustainability.
Last week the Prime Minister’s Task Group on Emissions Trading released its report. Given that even Malcom Turnbull has described climate change as “the great economic challenge of our times”, the Report’s 200-plus pages are decidedly thin on substance.
Dr Les Coleman lectures in finance at the University of Melbourne. His principal research focus is on the nature and consequences of firm risks.
Opponents of nuclear power in Australia most often use environmental and economic arguments. The real problem with establishing a nuclear power industry is that it is a hugely complex and dangerous technology, and Australia has a poor record in safely managing even relatively simple technologies.