I have remarked many times how strange liquidity-fed markets have become. Iron ore is no exception. The anti-involution rally appears to have topped out with the opposite outcome of that intended. Steel prices have fallen while input prices have risen, killing profitability. That will only produce more deflation over the stretch as squashed margins meet
From the Market Ear: Comfortably numb The S&P 500 officially hits 6,600 for the first time in history, now up +36% since its April 2025 bottom. Nasdaq is up ~50% off the April lows. This marks one of the best 5-month stock market rallies in US history. At the same time the exuberant sentiment that
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THE ASSASSINATION OF CHARLIE KIRK MAY NOT CHANGE THE COURSE OF HISTORY, BUT UNLIKE THE MURDERS OF JFK, MLK AND OTHER POLITICIANS VYING FOR POWER, IT HAS IMPACTED THE WHOLE OF AMERICA, WITH A SINGLE BULLET TO AN AVERAGE SPRUIKER.
This month’s Australian Financial Review property summit contained the usual bluster on the need to lift Australia’s housing supply to meet demand. NSW planning minister Paul Scully accused anti-development residents in wealthy suburbs of NIMBYism and trying to lock future generations out of housing. Mike Zorbas, chief executive of the Property Council of Australia, heaped
It seems likely that our prime minister will meet Donald Trump at the United Nations General Assembly later this month.
AUKUS submarines will cost five times the entire annual defence budget. We can’t fund both AUKUS and a self reliant defence capability. We must choose self reliance.
The president of the UN General Assembly, Annalena Baerbock, has said she could imagine UN peacekeeping forces being deployed to Ukraine to secure a ceasefire and postwar peace if supported by the majority of UN states.
Killing the Hamas leaders in Qatar would clear the way to ending the Gaza conflict and the return of Israeli hostages, Prime Minister Benjamin Netanyahu said on Saturday, just days after the Jewish state bombed the militant group’s top members in Doha.
When the Morrison government handed down the 2022-23 federal budget in late March 2022, shortly before that year’s federal election campaign kicked off, it was projected that net overseas migration for the full 2021-22 financial year would be 41,000. With only a little over 3 months remaining in that financial year at the time, it
The Government has just announced a spend of $1.7B on new ‘Ghost Shark’ underwater drones. But there appears to be more stealth in the budget than there is in the capability. Former submariner Rex Patrick reports.
Pete Quinn must be pretty happy.
Ghost Shark drones – “music to Trump’s ears”
by Rex Patrick
In June, I wrote a piece which suggested that when Trump sent in the National Guard to Los Angeles, he was hoping that violence would flare up, so that he could use it much as the nazis used the Reichstag Fire in February, 1933. The Nazis used this as an excuse to issue the Reichstag Fire Decree to suspend the right to assembly, freedom of speech, freedom of the press, and other constitutional protections, including all restraints on police investigations.
By Lucinda Jerogin, Associate Economist at CBA The CommBank Household Spending Insights index recorded its sixth consecutive month of gains, lifting by 0.3% in August to be 5.0% higher annually. Business survey data reinforced our view that the Australian economy is recovering. Consumer sentiment was weaker in September after a strong result in August. Offshore,
Leading Sydney auctioneer and agent Tom Panos has issued a warning for Australian home buyers. Panos believes that Australia’s property market is the hottest it has been since the Covid boom and will only get worse once the Albanese government’s 5% deposit scheme for first home buyers comes into effect next month. In his weekly