Economy

From the standpoint of conventional political analysis, Julia Gillard has had a spectacular start to her reign as prime minister. She wrested the position from Kevin Rudd with minimal bloodshed, announced she was going to neutralise the mining tax controversy by negotiating with the mining billionaires and was rewarded with a dramatic turnaround in the opinion polls.
The June 26-27 Toronto summit of the exclusive Group of 20 club, to which the world’s richest countries invited the heads of state of the major emerging countries, raised great expectations — but it ended as empty as previous meetings As in London in 2008 and Pittsburgh in 2009, the Toronto G20 discussions focused on a way out of the economic crisis. But a capitalist way out — favouring creditors and great powers. For the past two years, global financial regulation has been an elusive sea serpent, unsurprisingly resulting in no concrete measures.
The statement below was released on July 2 by the International Union of Food, Agricultural, Hotel, Restaurant, Catering, Tobacco and Allied Workers’ Association (IUF), a global trade union federation. Visit IUF website for more information and to send the Coca Cola Company a message that violence, dismissals and pressure on workers to prevent trade union rights and recognition are criminal acts. * * *
The ongoing disaster in the Gulf of Mexico caused by the April 20 explosion at the Deepwater Horizon oil rig has exposed the obscene behaviour of the world’s fourth-largest corporation, British Petroleum (BP). Evidence has come from many sources revealing BP was aware of safety concerns, but did nothing about them.
Prime Minister Julia Gillard is enjoying a honeymoon in the polls since taking Kevin Rudd’s place. A July 2 Reuters Trend poll confirmed a series of polls since Gillard became PM on June 24, giving Labor the lead over the right-wing Coalition. The June 26 Sydney Morning Herald said a Herald/Nielson poll found Greens support since Gillard took over had fallen from 15% to 8%. But another crucial poll indicated the true nature of Gillard’s rise to power. As soon as she was installed as prime minister, the share price of the large mining corporations rose.
While G20 leaders barely made mention of the climate crisis at the June 26-27 G20 summit in Toronto, Pablo Solon, Bolivia’s United Nations ambassador, was in town to encourage action on the “Cochabamba protocols”. It is no surprise that Solon, also Bolivia’s chief climate negotiator, was not on the list of special invitees to G20 meetings. In April, Solon and the Bolivian government he represents organised the World People’s Conference on Climate Change and the Rights of Mother Earth in Cochabamba.
On June 5, New South Wales Teachers Federation state council voted to initiate a “Stop the Privatisation” forum to organise against the state government’s privatisation plans for the public sector. The forum will invite participation from the Public Sector Association (PSA), Fire Brigade Employees Union (FBEU) and other public sector unions. After the forum, the federation will initiate a public sector delegates meeting to discuss and organise a public sector-wide response to the privatisation agenda.
In July, Socialist Alliance election candidates will be taking a trip to the Northern Territory to personally witness conditions under the federal government's intervention into Aboriginal communities. SA youth candidates — and Resistance members — Jess Moore, Zane Alcorn and Ewan Saunders will join Indigenous activists, students, community groups and campaigners from across the country in Alice Springs for an important gathering of intervention-affected Aboriginal communities.
Our children are still being fed racist messages by toy manufacturers and stockists. A recent browse through Northlands K-Mart toy department led me to wonder: If all Baby-Borns are white, where did Wrestler Action Man come from? Despite catering to one of the most multicultural parts of Melbourne, Northlands K-Mart does not have a single non-white baby doll in its massive display.
The world’s worst ever oil spill is also the biggest methane leak in human history, US government scientists have said. The US Geological Survey’s “flow team” has estimated between 4.5 billion to 9 billion cubic feet of natural gas have escaped from BP’s Deepwater Horizon rig since it exploded in April, Associated Press said on June 19. John Kessler, an oceanographer at the Texas A&M University, told AP the leak was “the most vigorous methane eruption in modern human history”. Scientists think methane makes up 40% to 70% of what is spilling from the damaged BP rig.

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