Category Archives: Australia

We Live in a World With Very Rich Multinational Mining Companies, and Very Poor Miners

The Porgera Joint Venture – a gold mining operation in Paupa New Guinea, sucks gold out of a mountaintop, providing little benefit to miners or the people who live near the mine. Activist groups, and a lawsuit recently filed in Australia, seek to change that, as well as correct horrific human rights abuses.


Wolf Richter: “Severe Collapse” of Home Prices Might Trigger a “Financial-Institution Crisis” in Australia: OECD Frets about the Banks

Australia looks to be on the verge of a nasty unwind of its housing bubble. A plunge would damage not only its banks but also retirement funds, since banks play an outsized role in the Australian stock market.