The challenge facing the US is to operate in a world where there is not one single power, but multiple poles of power and influence. If you were Russia, or China, or Iran, would you believe that the American administration has any interest whatsoever in international law? Would you trust the US? Or would you be looking over your shoulder wondering if you were next?
The leak of the Trump-Turnbull conversation shows that the Australian PM not only doesn’t have a plan B for his government’s offshore detention system: he doesn’t have a plan A, writes Andrew P Street.
First home buyers face the highest price to income and deposit to income ratios, the lowest savings rates, runaway dwelling prices, weak wage growth, and a political establishment hell-bent on ensuring land prices keep rising, no matter the wider cost to the economy. Economists and co-founders of LF Economics, Phillip Soos and Lindsay David present best evidence the system is eating the young alive.
Treating federal budgets like that of a household has starved economies of precious resources and has facilitated unprecedented levels of private and household debt. Editor-in-chief Claire Connelly explores the consequence of this logical fallacy in an excerpt of her upcoming book, How The World Really Doesn’t Work.
Economist Dr Steven Hail on how Japan has managed to avoid another financial crisis without creating a major private debt problem, while America and Australia… have not.