The Dismal Science

The RBA will now speak with multiple voices with all board members expected to speak to the public. Will this lead to greater transparency or muddy the waters further? Plus, more bumper jobs growth, the MYEFO reveals another jump in tax receipts, Milei takes his razor to Argentine spending and another COP climate conference goes by.

"Australia's economy hit the wall in the September quarter," according to Westpac economist Andrew Hanlan. Disposable incomes have declined steeply and consumer spending is weak. Have the rate cuts done their job now? Could the next move be down rather than up? Plus, Venezualan revanchism and Guyana's oil and gas boom.

Self-described anarcho-capitalist Javier Milei has won the Argentine presidential election. Do desperate times call for desperate measures as Argentina looks to escape hyperinflation? Plus, the RBA board worries about its credibility and the OpenAI board worries about the future of humanity. Ivan's had another audio fail this week. Apologies. We know you come for Mark anyway.

The third quarter saw wages rise at a record rate in Australia and despite a slight increase in headline unemployment, the labour market is still tight. What's a central bank to do? Plus, are we seeing a soft landing in the US? Apologies for the audio on this one, a few technical issues.

Debating the reasons behind Australia's recent interest rate hike and its implications for future growth. Examining the ongoing debate about the duration of higher interest rates and its impact on inflation and real rates. Discussing the effects of zero interest rates on the economy and the falling director sentiment index. Exploring insights from directors and the revised growth forecast for China. Analyzing the restoration of diplomatic relations between China and Australia and the challenges it presents for exports.

The podcast discusses the possibility of a rate rise next week, strong retail sales figures, and the IMF's call for governments to tighten their belts. Other topics include the importance of a research team, projected government spending, concerns about government spending and debt, structural problems in the Australian budget, and Australia's relationship with China.

With wars in Ukraine and the Middle East, the world has become a more dangerous place. How should boards be thinking through the fracturing global order and geopolitical risk? Plus, the RBA sounds a hawkish note and a mixed jobs report.

Claudia Goldin, Nobel Prize recipient for advancing our understanding of women’s labour market outcomes, discusses her research on women's labor market outcomes, including the gender wage gap, income inequality, technological change, education, and immigration. The podcast also explores the impact of blind auditions on female musicians, the race between education, technology, and inequality, and the concern that technology is outpacing our ability to educate people. Additionally, it discusses the recent decision of the RBA to leave the cash rate unchanged, analyzes global economic outlook, and examines the potential impact of the Israeli Palestinian conflict on the global economy.

A mixed bag this week: the government's jobs white paper, another inflation spike, wilting retail sales and a glut in red wine.

Fed Chair Jerome Powell has promised to proceed carefully with any future changes to interest rats in the US. Does this mean we're now in a "higher for longer" world? Plus, oil market dynamics and NZ emerges from recession or does it?