Economy
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Sydney transport: formidable task ahead for NSW Labor?
In NSW, Labor is favoured to end the Coalition’s 12 years in office at the forthcoming election. If it wins it faces a formidable task. Continue reading »
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Josh Wilson’s welcome concern: AUKUS will cost the earth
Comment by Hon. Melissa Parke on AUKUS 22 March 2023. I welcome the speech given by Josh Wilson MP, my successor in the federal seat of Fremantle, in the Australian parliament on 20 March in which he raised concerns regarding the AUKUS agreement. I also welcome the contributions from former Prime Minister Paul Keating last Continue reading »
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The shipping lie
Defence Minister Richard Marles has now told us why we need nuclear submarines – not to defend Taiwan or attack China, but to defend our merchant shipping. Sounds credible until one does the maths. Continue reading »
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AUKUS and Military Keynesianism
The nexus between war and capitalism has been extensively explored by historians, particularly those on the political left such as Gabriel Kolko. It is one of the reasons why the term state capitalism, rather than market capitalism, is a more accurate description of the economic structures of advanced industrial societies. War, or more often the Continue reading »
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The global banking crisis and world economy
The banking crisis that hit Silicon Valley Bank (SVB) last week has spread. We recall with a shudder two recent financial contagions: the 1997 Asian Financial Crisis, which led to a deep Asian recession, and the 2008 Great Recession, which led to a global downturn. The new banking crisis hits a world economy already disrupted Continue reading »
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Marles… At least get the spin on the subs right!
As the Government seeks to respond to an increasing number of questions about what it extolls as the game-changing decision to purchase nuclear powered submarines (SSN’s) it has been tweaking the spin about the reasons it has taken for this budget shaking decision. Continue reading »
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Submarine sovereignty? The devil is in the detail…
Our Defence Minister said that Australia has not given any guarantees to the USA about what we would do with our submarines in the case of war but would take our own decisions at the time. This is welcome but what are the implications? Does it only apply to the submarines? As always, the devil Continue reading »
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To justify nuclear submarines as protecting trade routes is nonsense
We just need to look at the facts to see how foolish the assertion is that SSNs have the capacity to prevent disruption to our trade in the event of a war. Forty percent of our exports are to, and 20% of our imports are from, China. Throwing money at submarines weakens the national economy. Continue reading »
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Guaranteed protection of home and hearth for next to nothing?
There is a simple, relatively costless government move that should give about half a million Australians confidence in homeland security. Continue reading »
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Empire-funded think tanks are not valid sources: notes from The Edge Of The Narrative Matrix
ATTENTION JOURNALISTS: It is never, ever acceptable, under any circumstances, to cite think tanks funded by governments and the military industrial complex as sources of information or expertise on matters of national security or foreign affairs. Continue reading »
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Nuclear safety agency silent on disposal of AUKUS radioactive waste
At this stage there is little interest in how to dispose of the high level uranium waste from AUKUS SSNs, let alone put First Nations voices to the fore. This is unlikely to change while the nation’s most prominent journalists see it as their job to promote the dominant military doctrine and boost the demonisation Continue reading »
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Two decades on, history should condemn the real ‘butchers of Baghdad’
The warmongers in the Anglophone countries of Britain, the USA and Australia today cause great concern with their AUKUS treaty and the not very subtle stirring of frenzy against China. It was similar in 2003 except that Iraq was the country being demonised. Continue reading »
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To all who care about humanity’s and the planet’s future
Humanity has reached a tipping point. It is time for governments, international institutions and people everywhere to take stock and act with renewed urgency. Continue reading »
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When a war economy became an industry policy
Anthony Albanese’s photo opportunity with president Biden and prime minister Sunak in San Diego must rank as one of the more grotesque and expensive the world has seen. The submarine deal, glowingly described as his ‘moon shot’ with its $368 billion price-tag is an act of pillage of public money. It might allow him to Continue reading »
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“Billion-dollar coffins”: detection tech to render AUKUS submarines useless
Speaking at a summit in San Diego on Monday, Prime Minister Anthony Albanese has announced a decades-long strategy to deliver the most costly defence project in Australia’s history. Continue reading »
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The fiscal fallout of AUKUS
What are the budgetary implications of the AUKUS nuclear-powered submarine deal? Continue reading »
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International Best Practice? Australia could do better
A couple of decades ago the phrase international best practice seemed to be on the lips of just about every business leader, business and economics journalists and the odd politician. Continue reading »
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What does a “good” employment service look like?
This week, the House Select Committee on Workforce Australia Employment Services held one of its public hearings. During the opening remarks, the Committee chair, Julian Hill remarked that he had asked the Department of Employment what a good service model looks like, and they couldn’t answer. He said they looked like a bunch of “well-paid, Continue reading »
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Keating exposes ministerial incompetence in Albanese Government
Speaking out strongly against AUKUS at the Press Club yesterday, Paul Keating’s concern is that Australia’s security has been laid limp upon the altar of small target politics by the two key Ministers – Foreign Minister Penny Wong and Defence Minister Richard Marles. Continue reading »
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“China threat” a distraction from climate change, economic inequity
Whilst much has been made of the extremely intemperate attempt by the Channel Nine newspapers to stir up fear against China, and their lauding of the AUKUS agreements and the massive amounts to be spent on nuclear submarines, little has been said about how this has been a distraction from fundamental issues the country is Continue reading »
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Canberra has a revenue problem – with no obvious solutions
Before the election I wrote our leaders were dancing on the edge of calamity shutting their eyes to the obvious gap between the Commonwealth’s revenue stream and its growing spending commitments. Decades of giving long term tax reductions funded by short term spurts of revenue, usually from mining, had come home to roost. Albanese, spooked Continue reading »
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Opportunities foregone in AUKUS submarine decision
Rex Patrick’s analysis of the government’s AUKUS nuclear-powered submarine decision (Michael West Media 14 March 2023) illustrates the one-sidedness of this insane deal. Patrick also sets out a rational and cost-effective alternative to the expensive and inappropriate nuclear subs which serves to highlight some of the significant opportunities lost by the wasteful and ill-considered over-spend. Continue reading »
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What happens when our nuclear subs retire?
Among the breathless press announcements coming out of San Diego on 14 March was that the spent nuclear fuel reactor cells for our submarines would have to be stored in Australia. This on top of the unexplained escalating costs of the subs, estimated delivery not until 2042, and three hand-me-down stop-gap Virginias possibly available around Continue reading »
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China: decoupling from the West and winning the long game
With the re-opening of China and with the ending of Covid restrictions, a new confidence seems to be surging through the country. While the next two years are seen to be a particularly dangerous time, with the real prospect of armed conflict with the US, beyond that it is felt that China’s time will have Continue reading »
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The SMH and Age Red Alert is unwarranted and dangerous
The articles published last week by the SMH and Age under the heading, Red Alert, are deeply flawed. The intent seems to panic us into war. But the many assertions are not supported by evidence or credible argument. Continue reading »
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We don’t need subs or war with China
The pussies in Labor are reluctant to differ by a millimetre from the coalition on defence, foreign affairs and national security lest they be accused of treason. Continue reading »
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Australian public universities: for society or for profit?
The Guardian of 3 March 2023 carries a story entitled “Australian university sector makes record $5.3bn surplus while cutting costs for Covid”. The sub-heading states “Department of Education figures reveal all but three universities reporting a surplus, including $1bn for the University of Sydney”. Continue reading »
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Environment and the South Seas Bubble: “nature will demand payment”
Three hundred years ago, Britain narrowly escaped a disaster. Trapped inside a bubble, they needed radical changes to escape. There are parallels to our world today, where the logic of failure is woven into the very fabric of civilisation. We too, are trapped inside a bubble, but one is of far greater significance. The question Continue reading »
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Postwar Ukraine will pose the hardest problems
Hopefully, behind the scenes, policymakers are well into postwar preparations for Ukraine. The conduct of the fighting naturally absorbs most attention in a war, but conflicts come to an end one way or another and often that’s when the hard issues emerge. Another Afghanistan or Iraq debacle must be avoided. Continue reading »
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Why China has passed the United States in science and technology
In recent weeks there have been a multitude of news items and reports emanating from various quarters indicting China has passed the United States in science and technology and this is likely an irreversible trend. Continue reading »
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