Economy

Independent journalist and author Antony Loewenstein visited Papua New Guinea in January and February as part of his research for an upcoming book and documentary about disaster capitalism and privatisation. He spoke to Green Left Weekly's Ash Pemberton about the influence of the resource industry in PNG, its links with government and private security forces, the rising influence of China and PNG's domestic politics in light of upcoming elections. * * *

A large public forum was held in Victoria’s Goulburn Valley on May 16 to officially launch a community cooperative that local people hope will become an example for the rest of the country. The launch came almost a year since Heinz announced it would shut down its tomato processing plant in the nearby town of Girgarre. The closure left 146 workers without a job and affected about 600 people whose livelihoods depended on the factory.

Election pundit Peter "Mumble" Brent has accurately summed up Paul Howes as “not so much a person as an ever-evolving script”. He became chief of the right-wing run Australian Workers Union five years ago but clearly has much higher political ambitions.

In Occupy-style, they are pop-up and pop-out protesters on Montreal's streets. A jester threw juggling clubs high in the air, a masked face beamed — the sweat of the warm day glistening over her make-up — and the nose of a clown tilting up to figures on stilts, occasionally twisting round in a dance-trot. An impromptu band shook beans in glass bottles and beat drumsticks, while an accordion played old favourites. Whistles tried to organise the crowd. Dogs menaced one another, tying themselves up in their leashes as their owners passed by.

Greece's Coalition of the Radical Left (SYRIZA) sent a message of solidarity to the thousands of people who protested against the NATO summit in Chicago on May 20.

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Gina Rinehart — mining tycoon and Australia’s richest person — is now also the world’s richest woman. Last year, her wealth grew by $18.87 billion to $29.17 billion. Her wealth grew $52 million a day or $1 million every 30 minutes. It means that for every second that passed in 2011, Rinehart made more ($598) than a minimum wage earner made in a week ($589.30). Rinehart’s fortune is now so big, if she spent $1 million a year her money would last for 29,170 years. It would take a minimum wage earner about 950,000 years to reach Rinehart’s bank balance

Aboriginal leader Sam Watson discusses the brutal dawn eviction by 300 police of the peaceful embassy in Brisbane; the importance of the Tent Embassy movement; the need for unity to fight the LNP government which he compares to the infamous government of Joh Bjelke Petersen; and where to for the struggle for sovereignty.

The announcement by giant US bank JPMorgan Chase that it had lost US$2 billion in a shady deal shows the kinds of financial speculation that led to the 2007-2009 financial collapse continue to steam ahead. It also underscores that both Republican presidential candidate Mitt Romney and Democrat president Barack Obama are in Wall Street’s pocket. As the financial system was collapsing in the waning months of the George W Bush administration, it responded with huge bailouts of banks and other financial institutions.

The rulers of the world are panicking over the results of Greek democracy.

Economic collapse drives workers into hunger and destitution. Foreign powers extort huge payments, forcing the national economy toward bankruptcy. The government forces workers to pay the costs of capitalist crisis. This description of Greece in 2012 applies equally to Germany in 1921. How should a workers’ party respond? The German Communist Party (KPD) proposed a simple fiscal policy: tax those who own the country’s productive wealth.

The controversial Ramu nickel mine near Madang in Papua New Guinea has come under fire for new claims of environmental damage. The mine has been the subject of a long-running battle with locals over plans to pump 100 million tonnes of mine waste into Basamuk Bay over 20 years. The dumping threatens the pristine ecosystem of the area as well as the livelihoods of local people.