Peter Costello's 1995 comment about a weak Australian dollar needs one small but important revision: devaluation impoverishes every working-class person in Australia. For owners of capital, especially those who own assets in foreign
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The military dictatorship of General Pervaiz Musharraf has launched a fierce crackdown against its opponents, arresting 20 leaders of political parties belonging to the Alliance for the Restoration of Democracy, including the
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The Argentinian government of President Fernando de la Rua is in crisis and its economic plans are in tatters, after protesters took to the streets in anger at a new austerity package which included savage cuts in government
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When it happened to the Brazilian real or the Turkish lira or the Thai baht, they labeled it a "currency crisis" and called in the International Monetary Fund but, this being Australia, the dollar's downward plummet to below 48 US
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S11 DocoWritten, produced and directed by Charlie Hill-Smith, Cindy Elliot & Pat Stirling$8Order a copy by email at <charlie@cobweb.com.au> StruggleKineticDistributed by MGM RecordsI've spent most of the last six months
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The two letters — M1 — are certainly getting around: they're on flyers, on lamp posts, stencilled onto footpaths, they've even started to get into the mainstream media. The idea is getting around too: "we're going to blockade the
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The Australian Stock Exchange will cop a pasting on May 1, when thousands of anti-corporate protesters blockade its offices and surrounding streets. The major reason for protesters' choice of target is obvious — the stock exchange
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"An absolutely classic emerging market panic" was one Western investment banker's cold-blooded diagnosis, but for 65 million citizens of Turkey the February 22 collapse of their currency, the lira, was a disaster which may rival in
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Australia's aid contribution to poor countries is among the most miserly of any industrialised nation, according to a new report from the Organisation for Economic Cooperation and Development. The OECD report, released on February
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International money traders have subjected the Turkish lira to sustained attack, forcing it to plunge 28% against the US dollar on February 22, sparking fears of a deep economic crisis in the country. The lira's collapse was the
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Support for the May 1 blockades of stock exchanges and financial districts continues to grow, including amongst trade unions. Progress is most advanced in Victoria where a number of militant unions are growing increasingly keen on
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Under concerted attack from increasingly vocal protest movements on its left flank, the International Monetary Fund may now face a new threat from its right flank — in the form of the new US administration of President George W.