John Rainford

Michael Williamson, former national president of the Labor Party and the Health Services Union (HSU), was sentenced in the NSW District Court on March 28 to seven- and-a-half years in jail with a non-parole period of five years for defrauding union members. The sentencing judge described Williamson’s dishonesty as “a parasitic plundering of union funds for pure greed”.

NSW Premier Barry O’Farrell implemented a six-month freeze on processing new applications for coal seam gas (CSG) exploration licences on March 26. At the same time, the minister for resources and energy, Anthony Roberts, announced that the licence application fee would increase from $1000, set by the ALP state government in 2002, to $50,000. Roberts had earlier refused five CSG exploration licence applications sought by Grainger Energy which, covered 43,000 square kilometres of land in the Riverina.

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PRIME MINISTER TONY Abbott introduced a “red tape repeal day” on March 26. About 9500 regulations contained in more than 50,000 pages of legislation and related documents got the chop. One of the “red tape regulations” that will be scrapped is the Commonwealth Cleaning Services Guidelines, which apply to cleaners employed on government contracts.

The parade of ALP politicians before the latest NSW corruption inquiry has given way to a cross-party merry-go-round. As the Independent Commission Against Corruption calls the tune, Liberal Party luminaries are now on the carousel. Liberal Senator and Assistant Treasurer, Arthur Sinodinos, has stood down from his ministerial position after being called to give evidence before the NSW corruption watchdog.

As David Harvey reminds us, capital never solves its crisis tendencies, it merely moves them around. Since the turn to neoliberalism in the 1980s there has certainly been a lot of movement. Throughout the 1980s there were big recessions in all of the rich countries. Across Africa, Latin America and Western Asia at that time there was a depression, although it was not called this because of a self-imposed taboo on the word by mainstream economic commentators since 1929.

Jock Palfreeman is serving a 20-year sentence for murder in Sofia Central Prison, Bulgaria. His conviction followed a trumped-up trial in a dysfunctional state where the local gangsters known as mutri hold sway, and hatred of Roma is a national pastime for many. Palfreeman was alleged to have killed Andrei Monov in Sofia in December 2007 while trying to defend two Roma men. Monov was the son of a Bulgarian MP who wants Jock to spend the rest of his life in jail.

The Universal Declaration of Human Rights provides that “everyone has the right to work, to free choice of employment, to just and favourable conditions of work and to protection against unemployment.” Yet one of the defining features of latter-day capitalism is the extraordinary levels of youth unemployment. Across the eurozone, youth unemployment is about 25%. In Spain it is almost 58%.

Most of the first world is still feeling the effects of the global financial crisis (GFC), as economies remain either stagnant or in recession. The financial crisis can be traced back to the decision in the United States to lower interest rates, which fell from 6% in January 2001 to 1% in mid-2003. This led banks and other financial institutions, awash with cheap money, to conclude that lending to prospective home buyers at risk of being unable to afford their repayments was a safe bet. Between 2002 and 2007, sub-prime lending rose from 3% of US residential mortgages to 15%.

The ex-Labor Party federal president and former national president of the Health Services Union (HSU), Michael Williamson, is now in jail after pleading guilty in October last year to defrauding union members of $5 million. When he was granted bail after his conviction he immediately filed for bankruptcy. The bankruptcy documents declared he had almost no assets to his name. This is despite his annual salary at the union ranging from $290,000 to more than $500,000.

Shares in Qantas were traded at $1.25 on February 21, the highest price since October last year. Anyone with more than a passing interest in the stock exchange would know that the company has been in deep trouble for some years. In October 2011, it stranded thousands of its passengers after it grounded its entire worldwide fleet during a union dispute. When rumours began circulating throughout the media after its half-yearly report meeting that Qantas was preparing to shed thousands of jobs at, its share price began to rise. Sacking workers is a profitable sign for speculators.

One of the most important initiatives that can be taken to revitalise manufacturing in NSW is to implement policies that will encourage the rapid development of renewable energy products. The one thing we should not be doing is developing new coalmines.