August 3 links: Stall speed

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Latest posts by David Llewellyn-Smith (see all)


  1. Some rather unusual claims from Liu Han but at the end of the day the SDL project won’t go ahead without Chinese money.

    200 million tonnes a year! Based on public information it is nowhere near that.

  2. Read more:

    The great mystery of last week’s June quarter consumer price index was how furniture prices could have risen by 6 per cent in the quarter and clothing and footwear by 2.5 per cent when the nation’s retailers have been complaining that shoppers are on strike, a situation that the shopkeepers have been meeting with constant discounting – anything you want is on sale and if it’s not, wait a week and it will be. Or buy it online for less or pick it up on your next overseas holiday.

    Something doesn’t quite add up about parts of the latest CPI and Australian retailing. When the consumer is proving particularly coy, retailers tend to not increase prices. That’s how monetary policy is supposed to work – bash consumers with higher interest rates so that they won’t go shopping and shops therefore won’t put up prices.

    I didn’t know where else to put this but I think it is important. Pascoe is an idiot but that is not the point!

    Clothing and footwear as well as most furniture is imported these days. I have been banging on in here, and other places, without much success about inflation coming down the pipeline out of China. As soon as the dollar stops even going up, let alone falling, this inflation will hit and hard. Maybe this was the beginning as the dollar hasn’t moved much recently.
    Retailers are already selling at rock-bottom margins. So to me it doesn’t matter much what the RBA does with interest rates as far as pricing goes. Interest rates will affect the sales numbers not not the price very much. The price now will be most determined by the cost of buying the product. It’s going up, up, up!