The numbers are almost incomprehensible – last month US debt hit 40 trillion dollars. With an interest bill of more than three billion dollars a day.

And that’s before Donald Trump’s trillion dollar promise to hand every adult in America a cheque for five thousand bucks!

Now, as global debt levels rise to record highs, and the cost of paying that debt rises too – experts are sounding the alarm – warning the economic storm that’s brewing is starting to look an awful lot like the 2007 global financial crisis.

Today, Senior Economics Correspondent at the Age and SMH, Shane Wright on the chance of another GFC and what it means for Australia.

 

If you enjoy 7am, the best way you can support us is by making a contribution at 7ampodcast.com.au/support.

 

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Guest: Senior Economics Correspondent at the Age & SMH Shane Wright

Photo: AP Photo/Richard Drew

The numbers are almost incomprehensible &ndash; last month US debt hit 40 trillion dollars. With an interest bill of more than three billion dollars a day.
And that&rsquo;s before Donald Trump&rsquo;s trillion dollar promise to hand every adult in America a cheque for five thousand bucks!
Now, as global debt levels rise to record highs, and the cost of paying that debt rises too &ndash; experts are sounding the alarm &ndash; warning the economic storm that&rsquo;s brewing is starting to look an awful lot like the 2007 global financial crisis.
Today, Senior Economics Correspondent at the Age and SMH, Shane Wright on the chance of another GFC and what it means for Australia.
&nbsp;
If you enjoy 7am, the best way you can support us is by making a contribution at <a href="http://7ampodcast.com.au/support">7ampodcast.com.au/support</a>.
&nbsp;
Socials: Stay in touch with us on <a href="http://www.instagram.com/7ampodcast">Instagram</a>
Guest: Senior Economics Correspondent at the Age &amp; SMH Shane Wright
Photo:&nbsp;AP Photo/Richard Drew

An independent daily news show. We feature the country’s best reporters, covering the news as it affects Australia. This is news with narrative, every weekday.

An independent daily news show. We feature the country&rsquo;s best reporters, covering the news as it affects Australia. This is news with narrative, every weekday.

Is another GFC brewing?

https://api.omny.fm/orgs/2fb3740d-3436-44af-8cc0-a91900716aa5/clips/ec093911-2e3d-4fa3-b5b1-b4c50055176e/transcript

One by one, the Aboriginal leaders, organisations and watchdogs the Northern Territory government is supposed to work with are walking away.

The Children’s Commissioner has resigned. An Indigenous MP has left parliament after more than a decade. And now almost the entire Aboriginal side of the Territory’s Justice Policy Partnership has suspended its involvement.

They’re all making a remarkably similar complaint – that the government isn’t listening, and that the structures supposedly designed to give Aboriginal people a say have become meaningless.

Today, National Indigenous Times journalist Dechlan Brennan, on how relations got this bad – and whether a government can tackle the Territory’s enormous problems if the people most affected no longer believe there’s any point in sitting at the table.

 

If you enjoy 7am, the best way you can support us is by making a contribution at 7ampodcast.com.au/support.

 

Socials:Stay in touch with us on Instagram

Guest: National Indigenous Times journalist, Dechlan Brennan

Photo: AAP Image/Supplied by (A)manda Parkinson

One by one, the Aboriginal leaders, organisations and watchdogs the Northern Territory government is supposed to work with are walking away.
The Children&rsquo;s Commissioner has resigned. An Indigenous MP has left parliament after more than a decade. And now almost the entire Aboriginal side of the Territory&rsquo;s Justice Policy Partnership has suspended its involvement.
They&rsquo;re all making a remarkably similar complaint &ndash; that the government isn&rsquo;t listening, and that the structures supposedly designed to give Aboriginal people a say have become meaningless.
Today, National Indigenous Times journalist Dechlan Brennan, on how relations got this bad &ndash; and whether a government can tackle the Territory&rsquo;s enormous problems if the people most affected no longer believe there&rsquo;s any point in sitting at the table.
&nbsp;
If you enjoy 7am, the best way you can support us is by making a contribution at <a href="http://7ampodcast.com.au/support">7ampodcast.com.au/support</a>.
&nbsp;
Socials: Stay in touch with us on <a href="http://www.instagram.com/7ampodcast">Instagram</a>
Guest: National Indigenous Times journalist, Dechlan Brennan
Photo:&nbsp;AAP Image/Supplied by (A)manda Parkinson

Something is seriously wrong in the Northern Territory

https://api.omny.fm/orgs/2fb3740d-3436-44af-8cc0-a91900716aa5/clips/ecfd9bfe-6cdd-4657-a83d-b4c20057f89a/transcript

From afar, Alice Springs is a whirlpool of myth and truth. A town with competing interests and few solutions, marked by chaos and decades of government overreach.

In cities and towns across Australia, we read about a “crisis” about “rampages”. One newspaper described the children of Alice Springs as “tiny menaces stuck on a turnstile of trouble”.

In this first episode of our three part series This is Alice Springs, Daniel James visits the town at the heart of our nation, to find out how all the interventions, big and small, by governments of all persuasions have led to this chaos. What he finds is that almost all of it leads back to one thing.

This series was originally published in October 2024.

 

If you enjoy 7am, the best way you can support us is by making a contribution at 7ampodcast.com.au/support.

 

Socials:Stay in touch with us on Instagram

Guest: Hosted and reported by Daniel James

From afar, Alice Springs is a whirlpool of myth and truth. A town with competing interests and few solutions, marked by chaos and decades of government overreach.
In cities and towns across Australia, we read about a &ldquo;crisis&rdquo; about &ldquo;rampages&rdquo;. One newspaper described the children of Alice Springs as &ldquo;tiny menaces stuck on a turnstile of trouble&rdquo;.
In this first episode of our three part series&nbsp;This is Alice Springs, Daniel James visits the town at the heart of our nation, to find out how all the interventions, big and small, by governments of all persuasions have led to this chaos. What he finds is that almost all of it leads back to one thing.
This series was originally published in October 2024.
&nbsp;
If you enjoy 7am, the best way you can support us is by making a contribution at <a href="http://7ampodcast.com.au/support">7ampodcast.com.au/support</a>.
&nbsp;
Socials: Stay in touch with us on <a href="http://www.instagram.com/7ampodcast">Instagram</a>
Guest: Hosted and reported by Daniel James

This is Alice Springs: Children of the Intervention

https://api.omny.fm/orgs/2fb3740d-3436-44af-8cc0-a91900716aa5/clips/8d10045c-4da2-40e9-8e51-b4c200518494/transcript

In 2020 Anthony Albanese called for the sacking of then-sports minister Bridget McKenzie over her involvement in the infamous sports rorts – which he labelled a farce. Not long after, she resigned.

But now that similar pork barrelling claims have been levelled at the Prime Minister, he’s come out swinging – refusing to admit any wrong-doing over his failure to declare membership at a golf club which received a six million dollar grant.

Also coming out swinging this week was Andrew Hastie. The Liberal MP delivered a masterclass in how to take on One Nation as he labelled Pauline Hanson and Barnaby Joyce lying cowards over a party-backed cartoon calling him a traitor.

Today, press gallery veteran Paul Bongiorno on a fiery week in parliament, and who came off second best.

 

If you enjoy 7am, the best way you can support us is by making a contribution at 7ampodcast.com.au/support.

 

Socials:Stay in touch with us on Instagram

Guest: Press gallery veteran Paul Bongiorno

Photo: AAP Image/Mick Tsikas

In 2020 Anthony Albanese called for the sacking of then-sports minister Bridget McKenzie over her involvement in the infamous sports rorts &ndash; which he labelled a farce. Not long after, she resigned.
But now that similar pork barrelling claims have been levelled at the Prime Minister, he&rsquo;s come out swinging &ndash; refusing to admit any wrong-doing over his failure to declare membership at a golf club which received a six million dollar grant.
Also coming out swinging this week was Andrew Hastie. The Liberal MP delivered a masterclass in how to take on One Nation as he labelled Pauline Hanson and Barnaby Joyce lying cowards over a party-backed cartoon calling him a traitor.
Today, press gallery veteran Paul Bongiorno on a fiery week in parliament, and who came off second best.
&nbsp;
If you enjoy 7am, the best way you can support us is by making a contribution at <a href="http://7ampodcast.com.au/support">7ampodcast.com.au/support</a>.
&nbsp;
Socials: Stay in touch with us on <a href="http://www.instagram.com/7ampodcast">Instagram</a>
Guest: Press gallery veteran Paul Bongiorno
Photo:&nbsp;AAP Image/Mick Tsikas

Did the PM dabble in pork barrelling?

https://api.omny.fm/orgs/2fb3740d-3436-44af-8cc0-a91900716aa5/clips/474dd8a0-4065-48e2-aecd-b4c2005056f5/transcript

Is another GFC brewing?

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