Bill Kelty made a memorable speech last week. Addressing the ACTU Congress Dinner in Sydney, the legendary ACTU Secretary who helped shape the Accord in the 1980s and 1990s, explained why he became a unionist.
“It was the underdog you always sided with in our family,” he told a hushed audience that included former Prime Ministers Bob Hawke and Paul Keating.
“The Aboriginal on death row, the Gurindji people, women not getting equal pay. It was Australia of whom you were proud, but not the Australia who sang God Save the Queen.
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The US debt crisis has raised some very serious questions, and the answers floating around range from crazy to impenetrable. So we talked to Scott Pape, The Barefoot Investor, to shed some light on what’s going on.
Q. How the HELL did the US get into this mess?
A. Even though it’s the biggest economy on the planet, and it’s a really complex beast, they got to this point the same way that Tom from Townsville’s credit card got out of control – the US Government consistently spent more than they made.
And now they’re broke – and like Tom, that means they can’t pay for the basics.
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Tell-all interviews usually reek of sex. Mostly adulterous, always complicated, sometimes violent and just like an old-school western – with the “goodie” and “baddie” laid out plain for all to see.
Tragedy, celebrity, victory, great wealth or misfortunes get a look in too. Ditto multiple childbirth, homosexual offspring and gender transformation surgery.
They’re trashy, melodramatic, addictive and moving. They can be tragic. But the best tell-alls give us something else as well.
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EUROPE: the IMF asks for EU members to share in a 78 billion euro bailout of Portugal. EU Finance Ministers unanimously agree.
NEW YORK: Head of the IMF offers to have his wife post $1million bail to get him out of Harlem police Cell. Judge refuses.
The most minute details concerning the incident that lead to Dominique Strauss-Kahn missing his flight this weekend will no doubt become common knowledge over the next few weeks.
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A hotel worker’s allegations of sexual assault by International Monetary Fund chief and possible French presidential candidate Dominique Strauss-Kahn are disturbing. But also disturbing is the way the case is being reported in some sections of the media.
Strauss-Kahn has been arrested on charges of sexually assaulting a woman at his expensive hotel suite in New York. This is a summary of the story from the New York Times:
According to the law enforcement official, the woman entered Mr. Strauss-Kahn’s suite early Saturday afternoon by saying “housekeeping”. She heard no answer and believed that the suite was unoccupied. She left the door open behind her, as is hotel policy.
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YOU’D expect the World Bank to employ some pretty top-notch economists. The body and its 10,000 staff - including a fair smattering of economists - are charged with spending tens of billions of dollars donated by member countries to lift the developing world out of poverty.
And to do that effectively, I suspect, you would need to have a pretty good grasp on what the world economy is actually doing.
In reality, however, the bank doesn’t seem to have a clue. Earlier this week the World Bank ``revised’’ its forecast for global GDP this year from a fall of 1.7 per cent to a fall of 2.9 per cent. With global economy worth roughly $85 trillion, that’s a $1 trillion ``revision’‘. It’s the equivalent of forgetting to include Australia - the world’s 14th biggest economy.
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