Author Archives: Gene Tunny

RBA panics over European debt crisis

Posted on December 7, 2011 by Gene Tunny

Yesterday’s interest rate cut shows the official family in the RBA and Treasury are panicking over the European debt crisis, and are risking the Bank’s inflation-fighting credentials. On the issue of whether the banks will pass on the rate cut … Continue reading →

Posted in Macroeconomy | 1 Comment

People’s Question Time on education and skills

Posted on December 5, 2011 by Gene Tunny

Premier Anna Bligh, Education Minister Cameron Dick and Employment Minister Stirling Hinchliffe are taking part in a People’s Question Time event tomorrow night at the State Library in Brisbane that I am attending. While registrations to attend are closed, you … Continue reading →

Posted in Education | Leave a comment

Budget turnaround looks implausible in Treasurer’s chart

Posted on December 4, 2011 by Gene Tunny

I’m surprised Deputy PM and Treasurer Wayne Swan included this chart of budget balances in his economic note today, because it shows just how big (and implausible) the improvement in the Commonwealth Budget needs to be (i.e. around 2.6% of … Continue reading →

Posted in Budget | 2 Comments

Alcohol restrictions may help, but Gold Coast really needs more police

Posted on December 3, 2011 by Gene Tunny

Ever since I was punched in the back of the head by a drunken idiot at Canberra’s Uni Pub the weekend prior to Easter in 2008, I’ve believed that alcohol-related violence is a major issue in Australia and demands a … Continue reading →

Posted in Crime, Gold Coast | Leave a comment

Latest building approvals data disappointing

Posted on December 1, 2011 by Gene Tunny

The new ABS building approvals figures are disappointing, suggesting the non-resources part of the economy is sluggish:

Posted in Macroeconomy | Leave a comment

Resources sector accounts for half of GDP growth

Posted on November 30, 2011 by Gene Tunny

The following chart in yesterday’s Mid-Year Economic and Fiscal Outlook (MYEFO) nicely illustrates the two-speed economy: Given the resources and resources-related sectors are around 15% of the economy, this chart suggests around half of Australia’s economic growth in the next … Continue reading →

Posted in Budget, Mining | Leave a comment

OECD optimistic that European policy makers will prevent crisis

Posted on November 29, 2011 by Gene Tunny

In its latest Economic Outlook, the OECD runs the risk of being subject to the old joke about the economist stranded on a desert island with some tinned food who assumes he has a can opener.  While I agree with … Continue reading →

Posted in Macroeconomy | Leave a comment

Townsville CC knocks back Nuns’ plans to rebuild convent

Posted on November 27, 2011 by Gene Tunny

An article in yesterday’s Townsville Bulletin (Fire danger forces Strand nuns out) confirmed the over-zealous stance of the Townsville City Council on heritage, which I’ve noted in a previous post. The Bulletin reports: NUNS have had to leave a 100-year-old … Continue reading →

Posted in North Queensland, Townsville | 1 Comment

Commonwealth may need to guarantee State borrowings again

Posted on November 26, 2011 by Gene Tunny

Obviously, if the euro zone breaks up, as many commentators including the Economist (Is this really the end?) see as reasonably likely, the global economy will suffer a massive negative shock and we may need to revisit forecasts of a … Continue reading →

Posted in Uncategorized | Leave a comment

Don’t tie up money in Education Trust, cut taxes instead

Posted on November 24, 2011 by Gene Tunny

The proposed Queensland Education Trust has the look of a policy born out of a focus group, and Treasury must have been asleep when the policy was under development, because the proposed policy fails on basic public finance and economic … Continue reading →

Posted in Education | Leave a comment