Paul Keating seized on a huge jump in productivity in this week’s horrific GDP release but the effect of the pandemic will profoundly change the structure of Australia’s economy for good. Michael West reports.
Latest Economy & Markets Stories
Worst on Ground: retirees lose as major parties reject ‘Best in Show’ for super funds
A key recommendation of the Productivity Commission was for a Best in Show list of the top super funds. The sector hated the idea because it threatened their gravy train. MPs duly fell into line and instead last week passed legislation that, on its own, could worsen the problem of fund underperformance. Harry Chemay investigates.
Economic stagnation unlikely to improve under current Government policy vacuum
Wednesday’s release of the national accounts for the September quarter confirmed what we already knew — economic stagnation continues. Michael Keating steps into the policy vacuum with solutions.
Hardly Normal: appalling insults by Gerry mar Harvey Norman meeting amid activist revolt
“Are you are sexual predator?” asked Gerry Harvey of a dissident shareholder who was politely though persistently questioning him in front of a packed house at the Harvey Norman annual meeting. This was the crowning insult
Stephen Mayne on Gerry Harvey’s fans in the Murdoch media as fiery shareholder showdown looms
The culture wars have engulfed the stock market. As a fiery shareholder showdown looms at the Harvey Norman annual general meeting this week over poor governance at the retail juggernaut, Sky News host Peta Credlin lashed out at “hard left” proxy advisors and the “epidemic of politically correct box ticking”
MWI: Economic Recovery or The New Ordinary?
Australia’s economy looks like it has bottomed out, or perhaps this is the beginning of The New Ordinary. This is according to our MWI index which has this year shown predictive qualities.
Love Island Australia: Nine Entertainment chairman Peter Costello dunks Hugh Marks
It was the Nine Entertainment Company annual general meeting yesterday and Peter Costello, federal treasurer turned company chairman rose to take questions from the floor. Michael West reports.
Franking Credits: Government wins as bank payouts fall, but Labor …?
If Labor hoists the white flag and dumps its franking credits policy, it endorses a bizarre regime of cash hand-outs for wealthy share market investors. Michael West reports on the bank profit season, welfare for the wealthy and the winner from plunging bank payouts – Government
Tax Cut Flop: 1080 fails to revive torpid retail sector
Alan Austin unpacks September’s miserable retail sales data as the economy staggers from one record low to another.
Reserve Bank condemns Coalition mismanagement … not in so many words
Monetary policy can be helpful but fiscal stimulus is also clearly needed to halt Australia’s flagging economy. Such was the latest message from the Reserve Bank Governor Philip Lowe as the Coalition stubbornly clings to its budget surplus. Alan Austin reports.
Australia falls to stone cold last in Credit Suisse wealth report
An influential global wealth survey has highlighted the world’s greatest loser in economic outcomes this year — Australia. Alan Austin reports.
True Lies: Mathias Cormann caught by his own department for economic fairy tales
Mathias Cormann has been exposed for gilding the lily by a report from his own government department, or maybe he just got the facts wildly wrong. The report proved Australia’s Finance Minister wrong on Australia’s gross debt, net worth, taxation levels, infrastructure, government spending and the surplus
Homes Alone: despite record rates, Australia lags world as housing crisis grips
Thinking of building a new house? Well, you are among millions worldwide doing exactly that right now. But you are probably not an Australian. Alan Austin reports.
Trump’s war on Huawei about control of global computer-chip industry
Trump’s war on Huawei is to choke off the supply of semiconductors and technology to manufacture same to Huawei, thereby limiting China’s ability to compete with the US. Clinton Fernandes reports.
Whither the Economy? the MWI measures the Government on its own priorities
Where is the Australian economy heading? The new MW Index rates the Government according to the things which it says are important. What does the RBA say is going on? Governor of the RBA Philip Lowe said on September 24: “After having been through a soft patch, a...
TPG and Vodafone: curious case of a telco merger thwarted
On one side of the courtroom is TPG, a consumer-oriented telco grown large on acquisitions and minimalist customer service, run by a reclusive billionaire. Next to them is Vodafone, a mobile carrier with a global brand
Budget repair well under way? Not so fast Josh Frydenberg
The federal Government is desperate to depict the 2018-19 budget finalised on Thursday as evidence of a sound economy and budget repair well underway. It proves the opposite. Alan Austin reports.
Australia a classic study in how not to build a productive economy
Productivity has tanked under this Government and Treasurer, Josh Frydenberg, is floundering. Result? Australia is providing a class study in what not to do to build a productive economy. Alan Austin reports.
Smoke and Mirrors: how the ABS tarted up the numbers for Josh Frydenberg
Someone is not getting their funding cut. It’s the Australian Bureau of Statistics, the Quiet Australians! It has been a week, and nobody seems to have noticed, but the front page of the GDP release has been doctored
Worried about agents of foreign influence? Just look at who owns Australia’s biggest companies
The attention being given to possible covert influence being exercised by China in Australia shouldn’t distract us from recognising that very overt foreign influence now occurs through investment. Clinton Fernandes reports.
Corporate profits and government spending boom while wages and economy languish
The supreme irony of the latest, listless GDP data is that private demand has been propped up by “brisk” government spending. There are serious questions over the Government’s competence to run the economy, reports Alan Austin.
Australia’s monopsonistic relationship with Beijing could tip it into recession
With China wielding its big stick over Australia, our monopsonistic relationship could tip it into recession, warns Michael Sainsbury.
Australia backs wrong horse as IP rights loom large in US-China trade war
Intellectual property rights are shaping up to be the key battleground as the trade war between the United States and China escalates. And Australia’s position favours the US, writes Clinton Fernandes, even though it is patently against Australia’s interests
Qantas and the Man with the Dragon Tattoo … and his “Uncle”
Qantas inked a freight deal with alleged associates of Chinese Triads in 2017. The airline clearly didn’t check the bona fides of its business partners, which they could have googled in one-minute flat. Michael Sainsbury and Michael West report on Reuben Milne, the man behind the deal.
Propaganda Prescription: how Australia can get its economic mojo back
The Liberal Party, its ideological ally the IPA and Rupert Murdoch’s News Corp have done a remarkable job of pushing the false narrative of superior Liberal economic management. The Labor Party has invited submissions to its 2019 campaign review. Alan Austin, who offers a solution.
Green shoots? When inflation is good news, maybe
Have things finally turned for Treasurer Josh Frydenberg? Is the latest CPI a spike in a downtrend or first signs the Australian economy is bottoming?
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