Donald Trump does not like immigration to the USA from El Salvador, Haiti and African countries. “Why are we having all these people from shithole countries come here?” Trump asked at a meeting with congress members at the White House. Trump suggested the USA should instead focus its immigrant entry policy on countries such as […]
Did Dastyari have to go?
I recently had a disagreement with two well connected ALP friends over Sam Dastyari’s resignation/sacking. They thought Dastyari’s resignation was brought about by a media “witch-hunt” and that he had committed no breach that justified his removal or resignation from Parliament. I thought he had to go. First, let’s understand the South China Sea issue that Dastyari fell […]
The Banks and the Creation of Money
Most people believe that the bulk of money in the economy consists of notes and coins, that the government creates most if not all of the new money in the economy and that private banks only lend out money that has been deposited with the bank by the government or other depositors. But none of this is true. Only 3-7% of the money in […]
Marx- identity politics and economic inequality
Even ‘The Economist’ magazine has admitted Karl Marx was right about a good many things- globalization and international markets, the business cycle and the way economics shapes ideas, for example. But Marx’s most basic ideas also seem well founded- production is essential to survival and, in any system of production, human beings inevitably enter into […]
Trump Health ‘Reform’ Simply Explained
Twenty five years ago health expenditures in the USA consumed 5% of GDP. Today that figure is around 17%. No other country comes close to this level of expenditure. In 2015, for example, per capita spending on health in USA was $9451 compared to Australia $4420. The USA pays more per capita for healthcare than […]
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