Talk about claptrap. ABC. Peter Dutton has defended waiting till now to promise to bring Darwin Port back under Australian control, rather than acting when the Coalition was in government, because the national security advice has changed since he was defence minister. Both major parties have vowed to end Landbridge’s 99-year lease on the port,
The Fed was nasty on Friday. Jerome Powell. While uncertainty remains elevated, it is now becoming clear that the tariff increases will be significantly larger than expected. The same is likely to be true of the economic effects, which will include higher inflation and slower growth. The size and duration of these effects remain uncertain.
God save me from the ABC + Grattan Institute corruption nexus. I have written extensively about how the ABC quotes former gas executive Tony Wood without ever mentioning the Grattan Institute’s huge conflict of interest in its sponsorship from Origin Energy. This has turned the ABC into a near cypher of gas cartel propaganda. But
Watch credit for the bottom. It will tell you when we are getting to the kind of economic accident that the Trump administration seems to want. Morgan Stanley. This week’s tariff announcements were more hawkish than expectations and raise recession risks, unless met by negotiations in the very near term. We expect no cuts from
Of all the commodities, iron ore has so far held up the best post-tariffs. This appears to be a function of the long-established Pavlovian response that economic shocks equal more construction stimulus and iron ore demand in China. But is that the case this time? China has never successfully weathered a recessionary economic shock without
Albo has gone for household batteries. The Australian. Taxpayers will contribute $4000 for an average household battery installation under a $2.3 billion election commitment by Anthony Albanese, with Labor promising the policy will push electricity prices down for “everyone”. The Prime Minister will on Sunday make a speech in the Brisbane electorate of Griffith and
Last week, the ABC published the following table showing Australia’s most valuable goods exports: Since Australia doesn’t manufacture much anymore, mining, energy, and agricultural goods comprise virtually all of Australia’s goods exports. All of these exports are produced in regional Australia, not the capital cities. The only services exports of note are education and tourism-related.
The panic is on. “Economists” are backflipping on interest rates. Hoocoodanode? The poll found 29 out of 40 economists forecast the cash rate to fall by a quarter of a percentage point to 3.85 per cent in May. ANZ, Barrenjoey, and HSBC brought forward their timing after the US president unveiled aggressive tariffs on trading
Blood in the streets. The Market Ear. $5 trillion gone The S&P 500 saw its worst two-day plunge since March 2020 in a sellof that slashed over $5 trillion in value. Source: Econovis 2nd worst ever The Nasdaq Composite is now down 19% year-to-date for its 2nd worst start to a year (through 64 trading
The bath of blood on risk markets continues to spill over with Wall Street falling 6% across the board on Friday night with more carnage expected here on the open of the new trading week in Asia. The latest US jobs figures came in better than expected but were roundly ignored as everything but the