Neither side of Australian politics is offering a sustainable program to cope with the international financial crisis that is pushing Australia towards an economic precipice. Patrick J. Byrne reports. Prime Minister Kevin Rudd has produced a $42 billion stimulus package and published a long essay, “The global financial crisis” (The Monthly, February, 2009), which accurately…
Australia escaped the financial crises of recent years; but minimising the impact of the current world-wide meltdown will be a tight balancing act, made more difficult by the nation’s huge foreign debt, writes Patrick J. Byrne. Recently, the consultancy Access Economics warned that Australia cannot avoid the recession engulfing the major economies — and the…
Although the US will remain the world’s single largest power in 2025, China, India and Russia may supplant the West as leaders of the world, diminishing the role of the US, writes Patrick J. Byrne. The weakened role of the US will raise fundamental issues for Australia, which has been heavily dependent on the US…
As US President-elect Barack Obama prepares for the White House, policies are being aired on how to fix the world financial system and US economy. Patrick J. Byrne reports. As US President-elect Barak Obama prepares for the White House, policies are being aired on how to fix the world financial system and US economy. The…