Belluci's Italian Woden Canberra

Having being around for 20 years, operating in the political and academic capital of Australia,  Belucci's has been a main stay of southern European dining.    It opened its second restaurant in Woden several years ago and I had the privilege of being taken there.


It was a Saturday evening and the suburbs of Canberra are not the noisy hubs of night life that one encounters elsewhere in other capital cities like Melbourne and Sydney.   I rather enjoyed the quiet charm outside as an alternative, with easier vehicle parking but with a rather boisterous atmosphere once we stepped inside the place.   We were given a relatively private table on the side.


Immediately I loved the building that house the restaurant, standing tall over the darkness of the evening.   The lay out inside had a centrepiece of a welcoming counter and yet had a more captivating kitchen space at the back.    The staff took initiative to make suggestions, that was a good sign.  

For starters, my eye caught the listing of the crispy skinned pork belly garnished by Vincotto and apple slaw.   The slow brew and reduction of non-fermented grape in making VIncotto  results in caramelised sugars and a cooked wine with more concentrated flavours.


The mushroom Arancini has cauliflower puree and Parmesan shavings to help enhance the overall bite.   This snack of a Risotto had moved through the years from humble beginnings in Italy to be an elegant, grown up speciality.

A combination starter platter.

Meat roast and potatoes.

Staff service was attentive and friendly , even if it was a busy night with tables spread out over a rather large dining area.    I enjoyed the mains of the Marinara, provided with luscious chilli garlic, more than hints of the ocean and well stirred with al dente pasta.


It had been a wonderful catch up with new and known friends, who had come from far and near to gather at our table.    We opted out of a cheese platter but covered seafood, produce from the range, dessert, breads and a selection from the vineyards.   

Spaghetti Alla Marinara.

Zabaglione is whisked up from Sicilian Marsala,  castor sugar, white wine  and egg yolks.   The custard like outcome added a special touch to the Tiramisu served, together with the Mascarpone , trifle,  liquor and coffee, the serving brought to us was topped with chocolate shards.    My other fav to wind up dining for the night is the French vanilla bean creme Brulee served with almond Biscotti.

Belluci's Italian visited is  located at the corner of Launceston and Irving Streets in Woden, Canberra.  There is another restaurant outlet in Manuka.
Opening hours are from12noon to 230pm for lunch every day; for dinner on Saturdays from 530pm till late; and from Sundays to Fridays from 6pm till late.
Contact  +612 6282 1700

Beijing's Forbidden City

Nine Dragons of Beijing - Forbidden City

The Danger of Excessive Debt Levels

When an economy overly depends on consumption to power growth, it leads to problems, in contrast to utilising investment in infrastructure, spending on education and creating actual value.   Consumer, corporate and government driven expenditures are increasingly powered by debt instead of the real ability to pay for them. 

Ireland has reportedly a national debt of 179 per cent of its GDP. This is an economy where foreign companies can borrow via their Irish subsidiaries.   China's national debt is fuelled by real estate purchases and shadow banking credit.    Debt was used as a tool to fund government stimulus in recent years in the USA.    In stark contrast, Saudi still has zero national debt, despite low petroleum prices.

Increasingly, corporate debt from high tax nations have moved to places like Singapore, the Cayman Islands, the Netherlands and Ireland. Emerging markets do offer higher returns than mature economies as well. 

Corporates have also increased their debts in a very low interest cost environment.    Many borrow from the unregulated shadow banking sector, including the plethora of money market funds, hedge vehicles and asset managers.    The resulting borrowed money is kept more in investor pockets than used in Research and Development or other productive purposes.    It is reported the borrowed funds are also significantly used in share buybacks to sustain higher share prices and executive performance bonuses. 

The result is that the wealthy get richer, employees do not see much wage rises and higher corporate debt heightens the corporate financial risk profile. The mom and pop investor together with pension or superannuation funds end up with more risky debt markets and share counters. 

Baby boomers now live longer than before are at an age that require higher health care and pension costs . This can add to national debt blowouts, especially in nations with a generous social security structure and having an entitlement mentality for beneficiaries. 

When high debt levels and inability to service debt on a timely basis undermine a country's credit standing, currency devaluation and further declines in ability to borrow more just to cover interest obligations can result.    However, currencies can be manipulated as there is nothing solid standing behind the so called value of a currency than the promise and reputation of a government.

Excessive debt levels can be the dark force in the fate of many countries in an increasing unstable world. 

Yarnsy's Cafe - Tarrawarna NSW

Jarris Shead and Thomas Bailey got their act together and in this new year have come up with an ambient and hipster venue for coffee and brunch.    Village like, inviting even from passing by and with a useful outdoor space in front, one feels like dropping by a mate's in a quiet suburb north of Wollongong city centre.   The local bus does drop by as well along meadow Street and you can do your chores near by after or before your cuppa - the post office, Criniti's veg and fruits, etc.   Yarnsy's is not far from the roundabout in Tarrawarna, where you may be familiar with the Dusk Cafe already.

I observe the extra effort with use of carefully thought of ingredients -  that captivating pomegranate, the whole sliced in half;  the colour of the beetroot smash, contrasting with the avocado wholesome green;  crushed nuts with texture on your palate;  marinade of meats;  the way the garnish is presented and comes on your plate; and the robust, daring cuppa from Toby Estate's blends.   Watercress, Papetas, art pieces, flower petals....they all add to a comfy blur of a good feeling.   



Mates and regulars gather on bigger tables outside, behind or in front of the counter.    People dropping by seem to know each other and feel relaxed coming in.    It can be compared to a house party, but a rather well behaved one.    If you come by your two spokes, there is so much choice in parking your transport wheels.