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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 … [Read more...] about The Risk of Higher Rates the RBA’s Overlooking

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 … [Read more...] about Why Australia won’t become a “renewable energy export superpower”

Investors are assuming the “Great Moderation” remains intact. But the tectonic plates are shifting – and bode ill for long-term returns. On 7 February, Jerome Powell, the Chairman of the Federal Reserve’s Board of Governors, summarised the challenge confronting central bankers … [Read more...] about Farewell low “inflation” and interest rates?

Most believe that it’s a fact, but they’re ignoring or denying data. An examination of these data demonstrates that it’s mostly fiction. “Energy transition,” said S&P Global in 2020, “refers to the global energy sector’s shift from fossil-based systems of energy production … [Read more...] about “Global Energy Transition” – Fact or Fiction?

Will 2023 be “beautiful” (as Ken Fisher asserts) or ugly (as Harvard professor and former IMF chief economist Kenneth Rogoff fears)? “After 2022’s woes,” says Ken Fisher (“Big Year for Stocks, Bonds,” The Australian, 16 January), this year “markets are primed for beautiful … [Read more...] about Will 2023 be beautiful or ugly?