When most people think about the ‘Australian Economy’, the first thing that’ll often come to mind is mining and banking. Two industries that dominate our total productive output both locally and abroad.
It is, however, a little more intricate than that...
Australia is a prime exporter of many commodities. Many of which are mined, but some of which aren't. And while iron ore has certainly been our forte for a number of years now, we have quite the unique mix of materials across our vast country.
The world is still the same…humans haven’t changed; we are as dumb and as credulous as ever. But new market conditions require a new anthem. So, we introduce: YODO — you only die once. Today, we explain why this is a YODO market, not a YOLO market.
The speed at which the global economy is declining is such that there’s little room for the central planners to fiddle around and try to distract the masses from what’s at hand. In steps the United Nations, who’s urging central banks to stop raising rates to fight inflation. Their suggestion? Price control.
The Australian Competition & Consumer Commission wants to canvass further views on the proposed network deal between telco giants Telstra [ASX:TLS] and TPG.
We are at a moment of extreme fear — sentiment is at lows. Which begs the question: Is this as bad as it gets? At least for now?
The randomly selected 2% is the Holy Grail our (clueless) inflation warriors so covet…and slavishly pursue. Belief in this target is now so absolute, no one in the economics profession or financial industry asks the question ‘why do we have this target?’.
It’s quite simple, really: when we compare things over time, the comparison ceases to be accurate. That’s because apples become oranges.
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