You wouldn’t know it from reading the MSM but Australia is in the middle of its second largest coal boom in history:
The causes are many: China rationalisation and stimulus, supply side accidents etc. Both will ease from here most likely but not crash. And that means this, via the AFR:
The federal government could return the budget to balance this financial year, 12 months earlier than forecast, but that would require spending restraint ahead of the federal election, leading budget economist Chris Richardson said.
