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The global financial crisis had its origins in the US when interest rates fell from 6% in January 2001 to 1% in mid-2003. This led to banks and other financial institutions awash with cheap money to conclude that lending to home buyers at obvious risk of defaulting their repayments was a safe bet.
Australia is at risk of becoming a scientific backwater due to the federal government’s budget cuts to the CSIRO. The government has proposed a $111 million cut to CSIRO funding in the May budget — about 20% of its total funding — and at least 1000 full-time staff will lose their jobs over the next four years. Eight CSIRO sites around the country will close. Many are in regional country towns, which rely on the sites for employment.
Over 100 people rallied in Sydney on the anniversary of Eddie Murray’s death in police custody in a northwestern New South Wales town of Wee Waa 33 years ago. Murray's murder was one of the black deaths in custody that led to the historic Royal Commission into Aboriginal Deaths in Custody.
“At the end of the day,” Bella Bropho of the Swan Valley Nyungah Community told Green Left Weekly, “we want that land returned to us.” She was referring to the Lockridge camp site which was home to the community until it was closed by the Western Australian government in 2003. Despite the closure, the community has maintained a continuous connection with the site and still meets there every week. At 5pm on June 10, government contractors moved in to remove fences and “desecrate” vegetation that was planted by community members.
Indian feminist and socialist Kavita Krishnan was the keynote speaker at the People's Power in the “Asian Century” seminar in Sydney on June 7. The seminar was held as part of the Socialist Alliance’s 10th national conference over the weekend of June 7-9. Around 250 people attended the conference to hear Krishnan speak on the anti-capitalist struggle in India, and on capitalism, misogyny and sexual violence.
Sham contracting — when a company lists employees as contractors to avoid having to pay tax and benefits — and charging workers illegal fines are widespread practices in the sex industry.
It is understandable that Brazil's President Dilma Rousseff has come out swinging. Given that strikes, land occupations and protests are ripping out across the country in advance of the World Cup; given that a Pew Research Poll found 67% of the country is dissatisfied with her handling of the tournament organising; and given that Rousseff faces an election later this year, she is fed up and ready to play the conspiracy card about the turmoil gripping the country.
The NSW Independent Commission Against Corruption (ICAC) has again found former Labor powerbroker Eddie Obeid guilty of corruption. On June 5, he was found corrupt over the non-disclosure of the ownership of cafes at Circular Quay and attempts to renew the leases without them going to tender.
Refugee Action Coalition Sydney released this statement on June 5. *** Eye-witness accounts of the riot squad attack on peaceful protests on Christmas Island on June 2 have revealed more of the brutality of the attack and disproportionate force used by the Serco Emergency Response Team. One of the asylum seekers injured remains in hospital with a broken hand/wrist after the riot squad re-broke his hand with such severity that a surgical pin from a previous operation was broken through the bone.
There is one city in the world the indigenous people, who make up a third of the population, are officially classified by the authorities as having permanent residency, a legal status normally granted to migrants. As non-citizens, Palestinians legal status in East Jerusalem is legally inferior to that of Jewish residents. East Jerusalem, which was occupied by the Israeli army in the 1967 war and still contains refugee camps of survivors of the 1948 ethnic cleansing of large parts of Palestine, known as Al Nakba, bears the marks of an apartheid regime.
''This move by Australia Post management to cut 900 jobs is outrageous, coming without any proper consultation with staff and unions,” Joan Doyle, Victorian state secretary of the Communication Workers Union (CWU) told Green Left Weekly on June 10. ''Australia Post CEO Ahmed Fahour is sensationalising supposed losses to attack workers' conditions.
Social services minister Kevin Andrews has defended the Coalition government's attacks on welfare — including proposals to deny jobless under-30s any payment at all for six months — on the grounds that “too much intervention” denies citizens the opportunity to achieve something for themselves.