Its policy rate is well below the Fed’s. That can’t last: the RBA can’t indefinitely fight and must ultimately follow the Fed. In a recent wire, I substantiated my doubts that central banks in Australia and the U.S. will be able to return the genie of consumer price inflation to its bottle (their targets) as easily or quickly as many people suppose (see Farewell low … [Read more...] about The Risk of Higher Rates the RBA’s Overlooking
Archives for March 2023
Why Australia won’t become a “renewable energy export superpower”
To sustain their grids, world leaders of “renewables” import power. Australia can’t, so it’s either fossil-fuelled backup or blackouts. In a joint media release with Victoria’s Minister for Climate Change and Energy (note the order of the words, which seems to reflect their order of importance to the state government) on 19 December, Chris Bowen, the federal Minister for … [Read more...] about Why Australia won’t become a “renewable energy export superpower”