Unconventional Economist

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also Chief Economist and co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.

Weekend reading and MB media appearances

International Reading: Gen Z would rather cut Social Security benefits for current retirees than pay higher taxes to save the program – Market Watch Trump says tariffs have brought in $18 trillion.

Online behemoths crush brick and mortar retailers

ABC News reported that Australians are flocking to cheap retailers like Temu, Shein, and Amazon, which combine ultra-cheap products with fast delivery.

This Christmas, Consider a “Government Inaction Figure” for Your Children

Below is an excellent satire post from MB reader Erin Rolandsen, CEO of Angelassist and author of beyondtheragemachine.substack.com: With Christmas approaching, many parents are once again facing the annual dilemma: What gift best prepares my child for the world they are inheriting?

Make no mistake, Australia’s immigration is extreme

Queensland right to walk away from ‘net zero’

Two months ago, the Queensland government signalled a major retreat from net zero, announcing it would extend the life of coal-fired power stations until the mid-2040s and expand gas generation capacity under its new five-year energy roadmap.

Feds bailout Victoria’s SRL train to nowhere

Bears growl at “cracking” iron ore market

The iron ore price has risen by about 7% so far in 2025, but CBA head of commodities Vivek Dhar warns that oversupply concerns could soon see the price of the steel input fall below $US$100 per tonne.

Semiconductor index breaks at worst possible time

From the Market Ear: SOX – from sexy to soggy Over the weekend we flagged the risk of a massive SOX double top.

China and India drive record global coal consumption

China (31.8% share in 2024) and India (8.3% share in 2024) have driven the increase in global carbon emissions this century.

US unemployment rate hits four-year high

The US unemployment rate rose to a four-year high of 4.6% in November (survey: 4.5%).

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