Author Archives: Gene Tunny

Markets over-react as usual

Posted on August 3, 2011 by Gene Tunny

The 2008 financial crisis shattered any illusions I had about the rationality of financial markets, which appear to consistently over-react to new information, even if it is trivial compared with the long-run trends that are at play. Hence I am … Continue reading →

Posted in Macroeconomy, Mining | Leave a comment

High speed rail to cost $100 billion (meaning proposal is DOA)

Posted on August 2, 2011 by Gene Tunny

At a cost of $30-40 billion, the National Broadband Network (NBN) appears cheap compared with the latest high speed rail proposal (High-speed eastern rail link to cost $100 billion): A FEDERAL government report into high-speed rail along Australia’s eastern seaboard … Continue reading →

Posted in Transport | Leave a comment

Mining multiplier effect in Rocky

Posted on August 1, 2011 by Gene Tunny

With tens of billions of dollars of investment projects on their way, the Queensland resources boom is set to transform our State over the coming years, and the wealth is sure to spread to many of our regional cities and … Continue reading →

Posted in Floods, Mining, Rockhampton | Leave a comment

20% of Queensland youth not fully engaged (i.e. in full-time work or study)

Posted on July 30, 2011 by Gene Tunny

The slowdown in Queensland’s economy since the financial crisis has disproportionately affected young people (aged 15-19), many of whom are obviously waiting for the good times to return rather than go to TAFE or university. The chart below is from … Continue reading →

Posted in Education, Labour market, Macroeconomy | Leave a comment

Gold Coast and Cairns becoming FIFO hubs

Posted on July 29, 2011 by Gene Tunny

Possibly in response to slowdowns in their local building industries, and a need for construction workers to look elsewhere for work, the Gold Coast and Cairns are emerging as hubs for fly-in, fly-out (FIFO) mine workers: Terminal deal cut for … Continue reading →

Posted in Cairns, Gold Coast, Mining | Leave a comment

Fitch’s negative outlook for Qld is bizarre

Posted on July 27, 2011 by Gene Tunny

Fitch Ratings’s negative outlook for the Queensland economy would only make sense if the US really does have an economic armageddon following the possible (though unlikely) failure to lift the US Government’s debt ceiling and this depresses the global economy. … Continue reading →

Posted in Cairns, Gold Coast, Macroeconomy, Mining | 4 Comments

Milton Friedman was right, but that doesn’t excuse a lack of ethics

Posted on July 25, 2011 by Gene Tunny

In a New York Times article in 1970, Milton Friedman – second only to Keynes in the ranking of 20th century economists  – declared that the social responsibility of business is to increase its profits (article reproduced here). This was … Continue reading →

Posted in Uncategorized | Leave a comment

ABS Census history – Aboriginals originally not counted to deny Qld seats in parliament

Posted on July 25, 2011 by Gene Tunny

In the lead up to the 2011 Census on Tuesday 9 August, the ABS has released a fascinating set of notes on the history of Australia’s Census (Reflecting a Nation). The notes reveal that a possible motivation for our founding … Continue reading →

Posted in Uncategorized | Leave a comment

North Qld has the most public servants per capita

Posted on July 24, 2011 by Gene Tunny

If Townsville truly does become the second (or vice) capital of Queensland, the disparity in public servants by region in the chart below (based on figures in the Qld Regionalisation Strategy) will increase:

Posted in Townsville | Leave a comment

QR should aim for value for money in train purchases and ignore pro-Maryborough lobbying

Posted on July 23, 2011 by Gene Tunny

Train manufacturer Bombardier Transportation is a major contributor to Maryborough’s economy, employing around 300 people or 3% of Maryborough’s workforce. Hence there is a lot of interest in the outcome of a recent request for tenders to build 200 trains … Continue reading →

Posted in Queensland Rail | Leave a comment