Economy

By Ralph Nader Once again, government socialism – ultimately backed by taxpayers – is saving reckless midsized banks and their depositors. Silicon Valley Bank (S.V.B) and Signature Bank in New York greedily mismanaged their risk levels and had to be closed down. The Federal Deposit Insurance Corporation (FDIC), in return, to avoid a bank panic […]

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Recently, Australia’s Defence Minister, Richard Marles said “Our alliance with the United States is completely central to our national security and to our worldview”. This raises three questions: 1. Does our relationship with the US enhance Australia’s sovereignty? 2. Does Australia share US values? 3. Does Australia face a “China threat”? The Australian government gives Continue reading »

Since 1901, the often-self-appointed gatekeepers of Australia’s defence and diplomacy have had the greatest difficulty with the idea of accountability. So much so, they always seem to operate as if it is an absurdity for their own actions and decisions to be exposed to the light. When their dishonesty and opportunism etc. is occasionally exposed, Continue reading »

Dear Labor MPs, I write to convey my deep disappointment in the Labor Government, of which you are part, specifically in relation to the AuKUS submarine deal but more generally in relation to military strategy and foreign policy. The United States’ China containment strategy is designed to shore up US economic hegemony but being sold Continue reading »

Many a joke telling session starts with “Have you heard the one about …?” The latest joke in the ASEAN region is ‘….the one about AUKUS?” The punch line is ’2050” because that’s how long it’s estimated it will take for Australia to actually acquire the proposed nuclear powered submarines from either the US or Continue reading »

The Federal Reserve is not working for the people but for wealthy individuals and corporations that can afford to have a say in the rules.

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By Ellen Brown / Original to ScheerPost On CNN March 14, Roger Altman, a former deputy Treasury secretary in the Clinton administration, said that American banks were on the verge of being nationalized: What the authorities did over the weekend was absolutely profound. They guaranteed the deposits, all of them, at Silicon Valley Bank. What […]

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The $368 billion AUKUS deal raises many more questions than we have had answered to date. The Labor Government has followed the Morrison Government as if the plan unveiled by Mr Morrison was a fait accompli. On September 15th 2021, following a two hour briefing from the then-government in which no documentation was presented, key Continue reading »

The nexus between war and capitalism has been extensively explored by historians, particularly those on the political left such as Gabriel Kolko. It is one of the reasons why the term state capitalism, rather than market capitalism, is a more accurate description of the economic structures of advanced industrial societies. War, or more often the Continue reading »

Defence Minister Richard Marles has now told us why we need nuclear submarines – not to defend Taiwan or attack China, but to defend our merchant shipping. Sounds credible until one does the maths. There are 26,000 ship port calls involving over 3,000 different ships at 70 Australian ports each year to exchange 580 million Continue reading »