International Reads:
- Pepsi and 7up canned from supermarket shelves over ‘unacceptable’ price rises – Yahoo
- Mortgage rates are plummeting. Should homebuyers jump into the market? – ABC
- Where the Republican presidential candidates stand on the economy – NPR
- Citing Misinformation, Florida Health Official Calls for Halt to Covid Vaccines – NY Times
- Factory construction spending booms under Biden – Axios
- Trump Received Millions From Foreign Governments as President – NY Times
- Latin America’s Fertility Decline is Accelerating. No One’s Certain Why. – America’s Quality
- The Federal Reserve is done talking about recession – Business Insider
- Some Gen Zers can’t believe a $74,000 salary is considered ‘middle class’ – Business Insider
- Ford ICE sales dip in November as hybrids, EVs shine – CBT News
- Online holiday spending jumps nearly 5% to new record, Adobe Analytics says – CNBC
- US new vehicle sales rise 12% y/y as buyers shake off high prices, interest rates, and auto strikes – AP News
- Job openings nudged down in November, down to lowest in more than two years – CNBC
- Has America really escaped inflation? – The Economist
Local Reads:
- Victoria left without 24-hour pharmacies after state government cuts funding – ABC
- An Australian woman used her BYD electric car to power her son’s dialysis machine during a blackout – Business Insider
- One in eight households spending a month’s wage on home and contents insurance as premiums skyrocket, experts say – ABC
- More Australians are making the transition to EVs as sales double during the past year – ABC
- Peter Dutton backs release of Iraq war papers after Morrison government failure – The Guardian
- Aged care: Wealthy boomers to be asked to pay more – The Age
- Growing interest from east coast investors fuels Perth property boom, pushing prices up – ABC
- Australia struggles to ditch SUV habit even as electric vehicle sales hit record – Reuters
- Murphy Report on gambling reform delayed by sports bet lobby – Michael West
- Time to make 2024 predictions – Interest.co.nz
MB Media Appearances:
A Boxing Day interview with Sky News talking about the economic outlook in 2024 following the “smashing” of Australian households in 2023.
While interest rates are unlikely to go higher, Aussie households should brace for another dour year in 2024.
New Year’s Day interview with Sky News on the outlook for Australia’s economy and interest rates in 2024.
In the interview, I explained how falling goods prices have lowered inflation globally, which should mean that central banks (including the RBA) are done raising interest rates and could in fact cut later this year.
However, the key risk to this outlook is the attacks on shipping routes by Islamic militants, which risks disrupting global goods supply and driving up prices and inflation, keeping rates higher for longer.
A detailed interview with Radio 2GB’s Clinton Maynard discussing Australian universities’ greedy over-reliance on international students, which resembles a ‘ponzi scheme’.
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