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News & Views by Terry Bell
Browsing All posts tagged under »economics«
No golden path to stability
January 7, 2012
Ever since Europe slid into crisis there has been talk that gold might be a way out. Why? Because of gold reserves held by various central banks. Italy, for example, could pay off a substantial part of its burdensome debt by unloading it gold stocks at current prices. And here is the rub: at current […]
When the mainstream meets Marx
December 2, 2011
When the well-known mainstream economist Nourial Roubini, a former adviser to the International Monetary Fund, quoted Karl Marx as perhaps being right about an inherent fault in the economic system, he caused a minor stir, but no real criticism. Because the inherent fault is one that is now generally acknowledged and is at the centre of the present — and ongoing — global economic crisis.
Aurora’s golden greed and liability hopes
December 2, 2011
Arrogance, incompetence and greed may have demolished the protection of limited liability for the politically well connected directors of South Africa’s controversial Aurora Empowerment Systems. They may now have to pay out of their personal fortunes for the heavy debts and losses incurred in a controversial gold mining venture.
Humbug, festivities and financial education
December 2, 2011
Given te dehpth of indebtedness into which many working class people seem certain to be be cast in the new year, it is tempting to emulate Dickers' Scrooge and say, "Bah! Humbug" about the looming season of supposed togetherness and happiness. But then there are developments that that are certainly not humbug and that illustrate something better.
Xmas bells ring in profit — and deeper debt
November 26, 2011
The measures taken to to get the tills of the towns of South Africa ringing for a profitable Xmas season, are similar to those that led, via the sub-prime mortgage debacle in the United States, to the current and ongoing global crisis. This is based on short-term thinking and the extension of unsustainable credit.
A tangled web of race classification
October 30, 2011
South Africa’s 2011 census, bar the tallying, the number crunching and a few follow-ups, is over. And there were remarkably few difficulties encountered although, being South Africa, the question of race was once again raised — and it highlighted some peculiarly South African problems.
Labour thumbs down for SA medium-term budget
October 27, 2011
Overall, the South Africa's medium term budget policy statement has been given a fairly resounding thumbs down by the labour movement. And not just by trade union federations, officials, shop stewards and rank and file members; among the army of the recently retrenched are workers who gave a similar verdict as details of the statement became known.
Terry Bell Writes 
Holistic change that is needed — globally
January 10, 2012
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This was first posted in January 2012, and has been edited slightly to bring some references up to date. Attention is being drawn to it again because the arguments raised seem even more pertinent now, especially in South Africa, a country that possesses a Bill of Rights that provides a potential — truly democratic — […]