ONA Coffee House Fishwyck Canberra

Seated just outside ONA, five of us.   it was a comfortable morning for inland Canberra.   The road was just down this parking ramp and the shops are rather light industrial, but what a difference how one well run place can make.....especially a world competitive winner in the coffee stakes - some examples are the 2016 win by barista Hugh Kelly of ONA at the Australian Barista Championships and ONA founder Sasa Sestic winning both the Australian Barista Championship and the World Barista Champion in 2015.




Pulled slow roast beef in a croquet?  Wait, there was more....Salsa Verde, a Latin twist on fried egg and sprinkled with Cheddar Cheese.  It is as if the son from the ranch had brought home a pretty woman with a Spanish background. 
  

I wanted something lighter, particularly after the wholesome dinner the evening before.  And there it was, saying to me, "Take me, take me!".   White Anchovies on sourdough - they sound simplistic, but that morning it combined fulfilling my hopes of and  my missing the garnish from Southern Europe and adopted in south-east Asia.   What did it taste like, this potentially savoury saltish spread on hipster bread?


To me, it was texture on the palate.  The soft cushion of poached egg, enhanced by the anchovies, rested on dough with an air and a bite.   Instinctively I harked for the chilli Sambal to be part of this experience, but it was only a passing - but delightful -  thought. Never mind. 


Whilst most cafes have the Aussie Big Breakfast, here you can try the ONA Big Roll.    A pair of fried eggs and double rashers lay the foundation, with rocket, Aioli, tomato chutney and smoky BBQ sauce adding to the outcome.    We were on the cusp of lunch time but not quite - late breakky but not yet brunch!   If you are there later, try the Barramundi Larb, a salad like dish with Nuoc Mam dressing, peanuts and mixed greens; or the confit Chicken leg.   Nuoc Mam Cham is made from fish sauce, sugar, vinegar, cloves, chilli and lime juice).

And don't forget the cuppa.  If you are feeling adventurous, do check out the Ginga Ninja, which despite the name does have high levels of  cafeinne furtively waiting for you, in this combination of ginger and Cascara ( or tea from the dried skins of coffee cherry).

Ona Coffee House visited is located at  the Roastery sited at 68 Wollongong Street, Fishwyck, Canberra Australian Capital Territory.  Barista courses are conducted here as well.
Opening hours are from 730am to 230pm every day.
Contact +61 2 6162 
Ona has other ACT outlets in the Cupping Room in New Acton and on the Lawns in Manuka. 
Ona coffee is from the green bean trading company, Project Origin.



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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.