Former federal Labor MP Craig Emerson has written an article in The New Daily slamming those arguing for lower, more sustainable levels of immigration. Emerson’s main argument is that a strong immigration program is necessary to prevent Australia’s population from ageing: Apart from pointing out the obvious that, other than First Nations people we are
The Greens are right about gas. On Monday, the Greens signalled they would use that leverage to block any mechanism that “financially incentivises” gas production, and declared a levy on LNG exporters the only viable approach to rebalance the market without underwriting new development. Greens resources spokeswoman Steph Hodgins-May said Australia had ample supply and
We have warned repeatedly that the state of Victoria is on the path to financial ruin. Victoria has the highest per capita debt in the nation and the lowest credit rating. The Victorian Auditor‑General cautioned last month that debt, deficits, and infrastructure blowouts pose serious long‑term risks to the state’s financial sustainability. Victoria’s liabilities now
Overnight saw what could be the beginnings of a risk off mood as Wall Street was unable to get moving after the weekend, helped along by a dumping of crypto as Bitcoin made new lows. All eyes are still on the Fed’s December meeting where a rate cut is a given, but overnight saw some
Just when you think it’s safe to dip back into forex markets, the Japanese bond shock returns. At least this time, it is yields, not currency. Helped by the dovish Fed. AUD can’t rise while Japan threatens bond meltdown. CNY remains supportive. Gold senses something is amiss. Metals mania continues. Miners firmed. EM is stalled.
IEEFA wants Albo to waste another $1bn on green iron. As Australia pours $1 billion into its Green Iron Investment Fund, it can learn important lessons from the US and EU, where several low-emissions steel projects backed by capital grants were subsequently cancelled or delayed. Projects with a “gas first, green hydrogen later” approach struggled,
China printed a bit of inflation in October, but it was pretty obviously seasonal. There is bugger all momentum in prices. The PPI was worse, though it also fell over the line in the month. Anti-involution has dented deflation but it is temporary. Bloomberg has some great charts on the great deflation. Rise of
It is time to shutter the ABC. Flag burning should be criminalised, immigration should be capped based on housing supply, and the ABC and SBS should be sold and replaced by a taxpayer-funded broadcaster only for regional and outback Australia, according to resolutions to be debated at the Liberal National Party’s state council this weekend.
Last week, I reported an AFR analysis of 16 financial reports from federal agencies, which revealed that 14 had unbudgeted increases in staff expenses totaling $841 million. Budget watcher Chris Richardson warned that the wage blowout could threaten the federal budget’s March forecast of a $42 billion deficit for this financial year, as could the billions
With the election of Zohran Mamdani to the office of Mayor of New York, an event thought practically impossible just a few decades ago has come to pass: the most populous city in the United States and the centre of the financial world has an avowed socialist as its mayor. His victory speech possessed themes