Like much of the world, China’s growth miracle owes much of its magic to debt. Lots and lots of debt. Analysts have been warning about China’s ballooning debt for years.
US President Donald Trump, for one, isn’t happy with the high prices US voters are paying to fill up their cars. Not only does he want to appear to be doing something to help them. He wants to ensure petrol prices come down before the US mid-term elections in November.
If the future sees smart machines doing much of the work we do today, which looks inevitable for both white and blue-collar workers, then the decidedly socialist concept of a universal basic income comes into play.
Modern medicine has gifted Australians — on average — with more than 4,000 extra days of life compared to what we could expect 50 years ago. The work underway in gene specific medicines would look more at home in the pages of a science fiction novel than a science journal.
Now there’s no guarantee that having a taser or mace in your handbag will ensure your safety. But ask yourself this. If you were being stalked by a murdering rapist, wouldn’t you want every tool available to protect yourself?
With OPEC ministers meeting this Friday, 22 June, all eyes will be on Vienna to see how much more supply is likely to come online. By next week, we’ll know if the hedge funds were right to be optimistic on rising oil prices. But I wouldn’t invest alongside them.
Alice Springs Councillor Jacinta Nampijinpa Price gave a unique and personal insight into the difficult issues involved in really closing the gap for Aboriginal people.
OPECs 2017 output cuts have managed to successfully push oil prices higher. But the agreement only runs to the end of 2018. Already some members have said they might increase production before the end of the year. Like Russia.
The latest figures show federal government debt will be ‘only’ $558 billion in 10 years. That was forecast to be $684 billion less than six months ago. Even if you had a close review of the budget, there’s one expenditure you probably missed.
The fears that oil prices would rocket if US President Donald Trump canned the Iran nuclear accord have proven unfounded. Oil prices did nudge up on the news, but only around 2.5%. That limited price rise indicates Trump’s move had been widely anticipated.
As China’s wealth and power grow, so do its government’s demands on foreign companies and nations wishing to do business there. And when you’re talking about a totalitarian regime like China’s, caving in to these demands is a perilously slippery slope.
China has been busy wooing Taiwan’s friends away. And the Dominican Republic caved in to China’s ‘soft diplomacy’ this week. This came in the form of a US$3 billion (AU$4 billion) low interest loan to fund much needed infrastructure in the impoverished country.
The massive increase in US production caught the market flatfooted in late 2014. Oil prices fell off a cliff into 2016, when WTI traded below US$30 per barrel. And it looks like history might repeat.
Governments around the world are determined to do everything in their power to keep this house of cards standing. However, this extraordinary asset inflation and unparalleled income inequality won’t end well.
Enjoy the extra 0.5% of your money the government has decided not to take from you this year. Despite Scott Morrison’s optimistic outlook, the Medicare levy — plus all the new levies the government has yet to dream up — are likely to be back on the table soon enough.
Despite what his own ego might be telling him, Trump cannot dictate the global oil price with a few tweets. However, he does have a large number of levers he can pull to increase supply…
Kim Jong-un’s sudden openness to giving up his cherished nukes is the really powerful image here. This comes after many pundits insisted the only good outcome was for the world to simply accept a nuclear armed North Korea.
Here’s the most important takeaway. One you’re not going to read in the mainstream media: The poor, naïve customers are not without blame.
Saudi Arabia is pulling out of its plans to list their state-owned oil giant Aramco in the US in what would have been the world’s biggest initial public offering (IPO). Time will tell if the Saudis open their oil taps wider now that the IPO looks to be off the table.
In case you missed it, the US government is almost out of money…again. If a deal isn’t reached by midnight this Friday (US time), some government agencies will be shuttered…again.
Trump didn’t need Tillerson, a dovish Secretary of State at his side. He needs Pompeo, a fellow hawk, willing to stare down Jong-un. And to back tough words with action, if need be.
Trump’s plan will introduce a levy of a 25% on imported steel and 10% on aluminium. Analysts and investors have been doubting Trump’s resolve to follow through on his bluster since day one. That’s a mistake.
You would think the French police have enough to keep them occupied without enforcing politically correct behaviour. Now, five politicians submitted proposals to criminalise ‘comments, behaviour or pressure of a sexist or sexual character’.
If Australia continues on its current path, the population is expected to grow by 11.8 million people by 2046. Abbott is not pointing the finger at recent immigrants. He is sounding the alarm about the negative impacts of continued rapid population growth.
If the mountainous levels of debt accumulated by Aussie home owners is anything to go by, that Ponzi scheme may be alive and well right here in the housing market.
After a decade of central bank driven ‘cheap money’, the world is awash in debt. And the debt problem goes way beyond Australia and the US.
If you believe the mainstream media, Victoria is descending into crime-fuelled chaos. It makes for frightening headlines. There’s just one problem. It’s not true.
The global war on marijuana began in the US. And now, by virtue of its superpower status, the US is leading the way to end that war…one state at a time.
There’s a particular part of Victoria’s proposed Firearms Amendment Bill 2017 that should concern you. Regardless of how you feel about guns.
There’s nothing wrong with a little patriotism. If you watched Donald Trump’s State of the Union address, you may have noticed that Americans remain obsessed with three such symbols.