There is good news and bad news. Let's have the bad news first.
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Which bank? Umm, the whole lot of them, actually. But let’s start with “the bank”, the Commonwealth Bank, because its profit report came out last week.
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Having raised a total of $129,040 for the 2008 Green Left Weekly Fighting Fund, we are now more than half-way to our $250,000 target. Our supporters raised $5440 over the last week through donations and several successful fundraising events around the country.
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Remember the “wealth effect”? Rapidly rising housing and share prices made people feel wealthy and so they borrowed big-time and became big-time spenders, and this supposedly makes for an endless economic boom. Just about every capitalist economist was singing from that cheery song sheet — until recently.
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When federal environment minister Peter Garrett paid a visit to a Sydney public primary school last term he discovered that the school had installed enough solar panels to supply three-quarters of its electricity needs.
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We could see this disappointment coming a mile off. First, Professor Ross Garnauts report tells us the global warming problem is dire and demands immediate response, but then, he comes to the diabolical conclusion that we should leave the solution to a dodgy market mechanism: carbon pollution permit trading. Now, the Rudd Labor governments Carbon Pollution Reduction Scheme green paper on this all-important challenge offers to hand the biggest carbon polluting companies free permits to pollute.
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We live in precarious times. Consider these two announcements over the last week: 1. The Bank for International Settlements (the international organisation of the world's central banks) warned that a severe global economic downturn seems
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I declare a personal interest in this story. In 1976, I worked for a year in a James Hardie factory in Western Australia. We were producing asbestos cement sheets; at that time still a popular building material.
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On June 5, I joined a suburban World Environment Day campaigning stall organised by Resistance, a socialist youth group in Australia.
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They must think we are all idiots, said an exasperated Friend of Green Left last week in response to the parliamentary debate about rising petrol prices.
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“Macquarie Bank bosses’ pay cut after profit cut warning”, was the headline of an article by Michael Sainsbury and Katherine Jimenez, in the May 21 Australian.
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“Two things keep me sane”, wrote in a Green Left Weekly subscriber with her payment for renewal, “Green Left Weekly and Radio National”. She is just one of a large number of loyal readers and supporters of this important project for change.