March 23rd 2019


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Articles from this issue:

COVER STORY Federally, the pro-family voter is starved for choice

SPECIAL EDITORIAL Has Cardinal George Pell been wrongly convicted?

EDITORIAL For politicians: lessons from Europe's emerging pro-family parties

ENERGY Hundreds of years of oil and gas reserves; if we want to use them

THE CARDINAL AND THE MEDIA Four Corners: the third trial of Cardinal Pell

SOCIETY AND RELIGION The future belongs to those who possess the past

SCIENCE Are summer heatwaves caused by climate change?

CHILD SEXUAL ABUSE The roots of the breaking of a fundamental taboo

CARDINAL PELL CONVICTION Triumphalism over Pell verdict shows civilisation is just a veneer

INTERNATIONAL AFFAIRS President Donald Trump: an unlikely promise keeper Part 1

THE AUSTRALIAN CLIMATE Same old same old in our beloved sunburnt country

THE AUSTRALASIAN A three years' drought

ASIAN AFFAIRS Taiwan reaches out to its regional neighbours

INTERNATIONAL AFFAIRS Covington boys: left hoist on its bigots' petard

MUSIC Time's unfolding: One of music's raw materials

CINEMA Stan & Ollie: Past joys, past sorrows

BOOK REVIEW The three-part attack on the home

BOOK REVIEW What draining the DC swamp turns up

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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