September 22nd 2018


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Articles from this issue:

COVER STORY Water, water everywhere, but not for the farmers

EDITORIAL Power companies in clover after closures

CANBERRA OBSERVED Liberals in need of an internal peacemaker

ENERGY Solar, wind dependence will add $1300 to power bills, engineers, scientists warn

LIFE ISSUES Queensland life march busts media stereotypes

ENVIRONMENTAL POLITICS Unmask activists disguised as nature lovers

FOREIGN AFFAIRS China takes up challenge to imitate and overtake America

CHINA AND AUSTRALIA Paul Monk thunders at kowtowing former pollies

FOREIGN AFFAIRS Hawaii: Pearl of the Pacific

BOOK EXCERPT From Patrick J. Byrne's book, Transgender: One Shade of Grey

FREE SPEECH University of Western Australia blinks again

LIFE ISSUES Queensland law will open floodgates to sex-selective abortion

HUMOUR

MUSIC Pop and singing: A certain antagonism

CINEMA Christopher Robin: The best something comes from nothing

BOOK REVIEW A so-called industry with only a dark side

BOOK REVIEW Population see-saw changes direction

LETTERS

POETRY

Books promotion page

CREDIT CODE RED:
How Financial Deregulation and World Instability Are Exposing Australia to Economic Catastrophe

by Peter Brain and Ian Manning

$29.99


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About the book

Australia has been the lucky country for a long time. But is Australia’s luck about to run out?

Brain and Manning, two of the country’s highly experienced economic analysts, argue that Australia’s prosperity has been bought by borrowing from its future – specifically, by borrowing too much, for the wrong assets, and from the wrong lenders. Using international and local indicators to measure economic danger signs, they warn that, if current policies are not altered, the country will be at extreme risk of an economic calamity.

Due to Australia’s high and increasing levels of household debt, foreign debt, and low foreign-exchange reserves, the country will enter what they call a Code Red zone. Once that happens, it is highly unlikely that Australia will be able to avoid, at best, a severe and prolonged recession, or, at worst, an economic catastrophe.

Credit Code Red proposes alternative courses of action for the authorities to take, which involve reducing disposable incomes and imports, re-regulating the financial sector, and abandoning neo-liberal economic theory. It is a timely warning that what is politically unrealistic today may soon become too little, too late.

“A terrific book that provides the big-picture economic alternative we have been searching for.” – Brian Howe, former deputy prime minister

About the authors

Peter Brain was formerly head of the Econometric Forecasting Project at Melbourne University. In 1984 he founded the National Institute of Economic and Industry Research (NIEIR). Ian Manning has worked for the National Inquiry into Poverty and at the Melbourne Institute. He joined Brain at NIEIR in 1985. For over 30 years, they have worked on projects covering all aspects of the Australian economy, its industries, regions, and people.


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