Mike Treen
![migrant workers NZ](/sites/default/files/styles/thumbnail_medium/public/2023-11/1561512003538.jpg?itok=G8-z_RPr)
'Being treated like slaves': Migrant labour exploitation as an essential feature of late capitalism
For a Green New Deal with people’s power
![](https://thedailyblog.co.nz/wp-content/uploads/2019/12/79097047_10218376413374366_2770240857809354752_n.jpg)
By Mike Tr
The coming economic crisis, “unorthodox” monetary policy, and Donald Trump
![](https://thedailyblog.co.nz/wp-content/uploads/2019/08/2902443145_9da4e9770e.jpg)
By Mike Treen
September 7,2019 — Links International Journal of Socialist Renewal reposted from The Daily Blog NZ — What is behind the “unorthodox” monetary policies of the US and other Central Banks?
There is much discussion today around how effective monetary policies are in regulating the ups and downs of the business cycle.
Monetary policies are run by the Central Banks of the respective countries with the US Federal Reserve operating like the world’s central bank. Their principal tools are the setting of certain interest rates they can control or influence and creating or reducing the supply of token money.
The US Federal Reserve resumed monetary creation policies earlier than expected at its July 30/31 meeting including a cut in what is known as the federal funds rate from 2.5% to 2.25%. They also halted the repurchase of the massive amounts of token money issued between October 2008 and October 2015 in response to the global financial and economic crisis of that time.
To understand what is happening we need to understand the interaction of three types of money in existence today.
Why did New Zealand suffer the worst casualty rate in World War I?
![](https://thedailyblog.co.nz/wp-content/uploads/2018/11/unnamed-4-600x400.jpg)
As a participant in this lie of the “war to end all wars” New Zealand had achieved the unique result of suffering the highest military casualty rate of any nation involved in that war.
Confronting racism is key to realising working class unity and power
![](http://thedailyblog.co.nz/wp-content/uploads/2017/01/images.png)
February 9, 2017 — Links International Journal of Socialist Renewal — Working people need to confront racism, sexism and anti-immigrant prejudice if we are to be successful in uniting our class sufficiently to take on the huge power of the one percent – the super-rich owners of most productive wealth in society.
Mike Treen: SYRIZA victory in Greece a blow to austerity
![](/files/SYRIZAViv.jpg)
Crowd at SYRIZA leader Alexis Tsipras' victory speech, January 25, 2015.