The US has blatantly left Australia with a choice between inflation and an uncompetitive export sector. What to do? Well, we should put our high dollar to good long-term use.
As many commentators expected, the Reserve Bank of Australia (RBA) Board has decided to reduce the cash rate by 25 basis points to 3.0 per cent.
With the exception of May-June, the Reserve Bank has been behind the eight ball all year. Our hollowed out economy is paying the price and, with a timid cut expected today, will continue to do so well into 2013.
The US elections have returned the status quo: Barack Obama remains as President; the Democrats retain their majority in the Senate and the Republicans still control the House.
If you have ever though the traffic seems heavier every year you’re not mistaken. It’s a simple fact that there are more cars registered each year than are decommissioned. And the numbers are alarming.
There may be up to 100,000 people living and working in Australia illegally. And it is an issue that is much greater than just students working outside their visa conditions.
The WA government is to announce that a Chinese government controlled company will be granted an exclusive 50-year lease over 15,200 hectares of prime WA agricultural land.
With both parties now promising to maintain impossible surpluses, the next election campaign will be as dismal as it will be ridiculous.
The RBA holds the official cash rate at 3.25 per cent against expectations. This marks the first time the RBA has not passed on a rate cut on Melbourne Cup day since 2005.
Our public service is becoming increasingly inefficient, with productivity falling every year over the last decade. If we don't fix it now, we will soon face a massive cost burden.
Try our budget calculator to see where all the money goes.