Over the decades of America’s post-war history, few sectors have been as strongly protected as car manufacturers, with everything from bailouts to favourable regulations helping them survive in an increasingly competitive automotive landscape. Over the years, a well-trodden path for manufacturers seeking access to the American market with minimal to no trade barriers has been
The media release accompanying the Reserve Bank of Australia’s (RBA) recent interest rate decision noted that “growth in private demand has strengthened substantially more than expected, driven by both household spending and investment”. The RBA’s Statement of Monetary Policy (SoMP) also noted that “the pick-up in consumer durables inflation was stronger than expected in the
There is an immigration cult in Canberra. It has nothing to do with national interest and everything to do with self-interest. Because population growth adds to GDP, pollies don’t need to pursue reform to drive growth. And it lifts their property portfolios. Too easy! They can just lie that the economy is growing for you,
The Reserve Bank of New Zealand has reduced the official cash rate (OCR) by 3.25% since mid-2024, which has driven a sharp decline in mortgage rates to around pre-pandemic levels and a significant improvement in mortgage affordability: Normally, such a sharp reduction in mortgage rates would deliver a strong rebound in home values. However, no
My friend and colleague, LVO, has done an excellent job of outlining how China and India have been commissioning large amounts of coal power. What he has not done, however, is examine the underpinnings of multilateral agreements to cut emissions over time. International agreements on carbon emissions acknowledge the historical right of poorer countries to
Earlier this month, I reported on China’s insatiable appetite for coal-powered electricity. China is by far the world’s largest carbon emitter, which has been driven by its insatiable appetite for coal: China has a significant number of new coal mines in development: More than 50 large coal units—individual boiler and turbine sets with generating capacity
Commentators like Greg Jericho from The Australia Institute argue that the Howard Government’s decision to halve the rate of capital gains tax (CGT) in 1999 was the primary driver of Australia’s house price boom and affordability crisis: While there are good reasons to reduce the CGT discount on equity and budget sustainability grounds (explained here),
Société Générale uses options markets to read psychological pivots for precious metals. Gold:Fast up, fast down.As we wrote last week, we remain bullish on gold as we believe the fundamental rationale for precious upside remains despite one area of uncertainty being removed–namely lower Fed institutional chaos. We always believe a correction can be very healthy.
We have repeatedly warned that Victoria is headed toward financial ruin. Victoria has the highest per capita debt and the lowest credit rating among the states. In November, the Victorian Auditor-General warned that debt, deficits, and infrastructure cost blowouts pose long-term dangers to the state’s financial viability. Victoria’s liabilities currently surpass $150 billion, with debt
Bondi was horrific, but it was not this. Naveed Akram has appeared in court for the first time since allegedly committing Australia’s worst terror attack. “Australia’s worst terror attack” was the Bali bombings, which took 88 Australian lives and 202 lives altogether. It clearly targeted Australians. This is deliberate misinformation. It’s wrong, politicised, and disrespectful