Australian business media

Australian business media is the world’s dumbest and one of the most corrupt. It exists in a frozen duopolostic structure between Fairfax Media and News Corporation. These two focus one another rather than innovation or service delivery, poaching each other’s staff, copying businesses and generally overpaying for any assets that pop up to threaten the cosy relationship.

Business coverage in Australia is much more akin to a “boys club” of back-slapping private school alumni than it is any investigative or analytical force. It pretends to endorse private markets as a philosophy but in actuality largely exists to defend vested interests. Both halves of the duopoly are addicted to bank and real estate advertising, with Fairfax especially prepared to sell out its editorial in pursuit of higher house prices (and more ads). It’s real estate classifieds business, Domain, has slowly but surely turned its business news coverage from reporting and investigation to press-release recycling and property price cheer-leading.

MacroBusiness covers these foibles daily.


Your ABC can’t wait to sell you to China

Come on, ABC, lift your game: He-Ling Shi, an associate professor of economics at Monash University, said while some goods could be sold in other markets, industries like international education would have a harder time shifting towards countries other than China. “In the long run, Australia can find alternative sources to export our education services,


How FriendlyJordies turned incredibly creepy

Via Domain: Former prime minister Kevin Rudd says controversial Labor YouTuber FriendlyJordies should be treated as a serious journalist and has defended working with the satirist, as NSW Labor leader Jodi McKay appeared to distance herself from him after a week of stunts and off-colour remarks. …Shanks’ remarks on his podcast a fortnight ago about


Fox News not fake enough for El Trumpo

This is a classic for the Murdoch haters out there. The Fox News Frankenstein has come back to eat it: [email protected] daytime ratings have completely collapsed. Weekend daytime even WORSE. Very sad to watch this happen, but they forgot what made them successful, what got them there. They forgot the Golden Goose. The biggest difference


The Strayan Weekly: Geoff Raby launches “Golden Rain” consulting

Sir Fomo McSpruikerson is an expatriate billionaire and proud proprietor of The Strayan, a vanity media project designed to boost his assets.  SBS launches new “SBS Migration” network as part of rebranding The Special Broadcasting Service has announced that it’s launching a new network entitled “SBS Migration” as part of an overhaul of the government


Fake Greens push for Murdoch inquiry

Via The Guardian: Greens senator Sarah Hanson-Young will move to establish a Senate inquiry into media diversity on Wednesday following the popularity of Kevin Rudd’s petition for a royal commission into Murdoch media. Last week the former Labor prime minister’s petition for a royal commission into the need for a strong, diverse media was supported


AFR coralled by CCP agent of influence

Via the AFR today: A Chinese government adviser has urged the Morrison government to try and repair ties with Beijing by expressing interest in President Xi Jinping’s new five-year economic plan and offering to send ministers to Beijing as a sign of goodwill. Mei Xinyu, a research fellow at the Ministry of Commerce’s Chinese Academy


Why is your ABC pushing China agent of influence, Geoff Raby?

Former ambassador to China, Geoff Raby, is a registered agent of foreign influence for Yancoal, a Chinese state-owned enterprise: Yet, this morning, Dr Raby appeared at the ABC without reference to this compromising fact as he told Fran Kelly that: we are inextricably bound to China; China is no existential threat to Australia, and ironically…


I’ve signed Kevin07’s media royal commission petition

Kevin07 has his problems but I can’t see how having a media diversity RC can do anything but good: Reason: Our democracy depends on diverse sources of reliable, accurate and independent news. But media ownership is becoming more concentrated alongside new business models that encourage deliberately polarising and politically manipulated news. We are especially concerned that


Australia’s fake left press contracts Murdoch Derangement Syndrome

It is a long-held tradition in independent media to despise the Murdoch Press. I have, myself, pioneered several mastheads at The Diplomat and MB in part designed to attack Murdoch’s legacy. It is true across other independent outfits as well. At Crikey and The Conversation, Murdoch hatred is a religion, for instance. But it is


The AFR is completely lost on macroeconomics

Last week I offered a few suggestions to Australia’s league of failing economists in the hope that some might escape the mediocrity of debate that is holding the nation back. Paramount was that they should avoid the Australian Financial Review because, frankly, it has no idea what it is talking about when it comes to


The Strayan Weekly: The mysterious disapperance of Drew Pavlou

Sir Fomo McSpruikerson is an expatriate billionaire and proud proprietor of The Strayan, a vanity media project designed to boost his assets.  NSW to introduce law precluding political candidates from standing for office if they haven’t already been to ICAC NSW is set to introduce tough new laws to enhance candidate screening for future state


Royal commission for Murdoch PLUS Guardian, ABC, SBS…

Earlier this week from Kevin07: The former Australian prime minister Kevin Rudd has launched a petition calling for a royal commission into NewsCorp’s dominance of Australia media, arguing Rupert Murdoch’s media company employs tactics that “chill free speech and undermine public debate”. The petition, launched on the Australian Parliament website on Saturday, had gained more than 38,000 signatures


Social media to make benefit glorious nation of Azerbaijan (and China)

Cross-posted from FTAlphaville: Morale-boosting military messaging intended to recruit and galvanise troops, while prompting patriotic goodwill with the public, is nothing new. Such techniques have been in play since war itself was invented. In the 20th century, the military took advantage of the media of its day: broadcast radio, video and celluloid film. In 2020,


The Strayan Weekly

Sir Fomo McSpruikerson is a local billionaire and proud proprietor of The Strayan, a vanity media project designed to boost his assets.  Frydenberg orders Parliament House to replace toilet paper with copies of Hayne Royal Commission Treasurer Josh Frydenberg has ordered all Parliament House bathrooms to replace their standard toilet paper with copies of the


MB Radio: Irresponsibility becomes the new black

Ahead of the anticipated announcement of the Federal Governments trashing of responsible lending laws by moving oversight of financial lending from ASIC to APRA, Gunnamatta spoke with David Llewellyn-Smith and Leith van Onselen about the implications of the move, and how this positions the Australian economy.  The sound is a touch raw, and the discussion


The Strayan Weekly

Sir Fomo McSpruikerson is a local billionaire and proud proprietor of The Strayan, a vanity media project designed to boost his assets.  Victorian Liberal Party remain confident they can still lose next state election Victorian Liberal Party leader Michael O’Brien insists the party is on track to lose the next Victorian state election in 2022,


RBA’s cockroach army crawls back into the light

Paul Keating scattered them briefly but you can’t keep a good cockroach down. Patrick Commins is one: In an extraordinary attack on the country’s most revered econo­mic institution, the former prime minister damned the ­central bank’s “indolence­” through the COVID-19 crisis, accusin­g it in a statement of being “way behind­ the curve in supporting the government


The Strayan Weekly

Sir Fomo McSpruikerson is a local billionaire and proud proprietor of The Strayan, a vanity media project designed to boost his assets.  ABC issues apology for allowing critic of Big Australia on Q+A The ABC has issued a public apology, after inadvertently allowing a critic of Big Australia on it’s Q&A program last week. Economist


The Strayan Weekly

Welcome to a new Friday feature from Sir Fomo McSpruikerson, a local billionaire, who has launched a new weekly vanity media project entirely to benefit his own assets. Take it away Sir Fomo! International students given security jobs at SA quarantine hotel to cover costs of hotel quarantine International students slated to begin studying in


Gottiboff: Bow to China or it will crash your house price

Gottiboff has joined some dribble stains on his bib today: Australia must brace itself for the next round of the war of words and actions with China – an attack on the price of iron ore and the nation’s key revenue base. My China contacts tell me that the anger China is currently displaying over


Massive infrastructure simulus planned? Or just made up

So says Domain: Australia could build its way out of the deepest recession since the 1930s through a $220 billion pipeline of infrastructure projects that would transform the nation, deliver jobs and sharply increase the nation’s long-term productivity. The projects, on top of the government’s existing $100 billion infrastructure plan over 10 years, could be


AFR and ABC pull “unsafe” journos from China

Sensible enough: #BREAKING Two Australian journalists have just landed in Sydney after being pulled out of China by their news organisations, on fears they were no longer safe. The two are Bill Birtles from the ABC and Michael Smith from the Australian Financial Review. @9NewsAUS #auspol — Chris Uhlmann (@CUhlmann) September 7, 2020 Hostage diplomacy