Category Archives: Macroeconomy

Mining sector dominates investment spending

Posted on May 10, 2011 by Gene Tunny

At the RBA briefing on its monetary policy statement in Melbourne yesterday, the RBA’s head of economic analysis, Dr Tony Richards, stunned some audience members when he mentioned that mining sector investment would increase to around 6% of GDP in … Continue reading →

Posted in Budget, Macroeconomy, Mining | Leave a comment

OECD admits it stuffed up in lead up to crisis, and blames IMF, too

Posted on May 6, 2011 by Gene Tunny

Her Majesty the Queen was not impressed with the failure of economists to foresee the 2008 financial crisis, as noted in this just released OECD working paper on Surveillance by International Institutions. The paper contains some interesting self-criticism from the OECD … Continue reading →

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Positive signs for Queensland economy

Posted on April 25, 2011 by Gene Tunny

The extended Easter break has seen a boost in tourism and retail spending, reinforcing expectations that Queensland’s economy will rebound after recent sluggishness: Tourists returning to Queensland after floods Easter Saturday trading boom Tourism rebound in Fraser Coast

Posted in Macroeconomy, Retail trade, Tourism | Leave a comment

Dr Doom forecasts China crash

Posted on April 17, 2011 by Gene Tunny

Nouriel Roubini, the New York economics professor who predicted the financial crisis –  and who is also known as Dr Doom – is forecasting a sharp slowdown in China in a few years’ time, because it is currently over-investing in … Continue reading →

Posted in Budget, Industry policy, Macroeconomy | Leave a comment

OECD upbeat about global economy

Posted on April 5, 2011 by Gene Tunny

Despite the economic uncertainty arising from the tragedy in Japan, the OECD is optimistic about the strength of the global economic recovery. From the OECD newsroom today: Growth in the G7 economies outside Japan appears to be stronger than previously … Continue reading →

Posted in Industry policy, Macroeconomy, Mining | Leave a comment

Winners and losers from Aussie dollar at 103 US cents – is Ford the next Mitsubishi?

Posted on March 28, 2011 by Gene Tunny

The Aussie dollar at 103 US cents (Dollar sets new post-float high) will be welcomed by Australians shopping online and holidaying overseas but, by making Australia a more expensive holiday destination for international visitors, it’s likely to prolong the slump in … Continue reading →

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Risks to Queensland economy from tragedy in Japan

Posted on March 14, 2011 by Gene Tunny

With the terrible disaster in Japan still unfolding, it is too early to forecast the impacts on the Queensland and broader Australian economies (See e.g. Impact is ‘unknowable’). The Queensland economy is clearly vulnerable, however, as Japan is our largest trading … Continue reading →

Posted in Macroeconomy, Mining | Leave a comment

Don’t be surprised if your removalist chats about Proust

Posted on March 10, 2011 by Gene Tunny

In another sign there is a large over-supply of university graduates in Australia, the commuters’ afternoon newspaper, mX, reports today: University graduates struggling to find jobs in their field are knocking down the doors at blue-collar workplaces. The February jobs … Continue reading →

Posted in Education, Macroeconomy | Leave a comment

Despite growth numbers, we should be positive about economy

Posted on March 3, 2011 by Gene Tunny

Yesterday’s National Accounts data confirmed Queensland’s economy was sluggish in 2010, as reported in this morning’s Courier-Mail (Queensland’s slowing economy further affected by Summer disasters): QUEENSLAND was the nation’s slowest growing state last year, even before the worst of the … Continue reading →

Posted in Agriculture, Macroeconomy, Mining | Leave a comment