Carol Nader reports in the Age that HUNDREDS of children are spending 60 hours or more a week in child care, a Federal Government report has revealed. The article then critiques the Federal Government’s policy of encouraging as many mothers as possible into the workforce. What are the underlying economic forces encouraging such workforce participation? We know that home owners … Read More
Will Higher Handouts Help Uni Students?
Is marrying your housemate the way to survive uni? That’s the question Farrah Tomazin puts forward in today’s blockbuster edition of the Age as she discusses recomendations for higher Austudy payments. This will see a short term benefit for students being able to afford more food. However, those versed in economics will understand that in the near future landlords will … Read More
Recessionary forces building fast – $5K US homes
A home bought for $110,000 in Flint, Michigan (2005) was recently foreclosed and can’t be sold for even $5,000. In an ominous sign of financial troubles; Fannie Mae acquired twice as many homes through foreclosure in the first quarter as it sold, regulatory filings show. The oversupply of homes is now coming home to hurt the US and increasingly the … Read More
The Subprime Primer – Stickman style
With more banks reporting massive write downs this week (Bank of America reported a 41% drop in quarterly earnings), we thought it timely to publish this funny take on how the subprime banking model was supposed to work. Flick through this humorous powerpoint, complete with lively stickman descriptions on how this financial quagmire makes sense/ cents for some. Please Note: … Read More
The True Cost of Food
A kilogram of beef contains between 15,000 and 100,000 litres of embodied water. For every kilogram of wheat grown in Australia, seven kilograms of topsoil are lost. We give lip service to concerns about peak oil and greenhouse gases, yet our agricultural industry is utterly dependent on unsustainable quantities of polluting petrochemicals. There’s no reason why this insanity can’t be … Read More