A new direction
Why proprietary AI is losing its edge, local policy has hit a wall, and where this newsletter is heading next.
The next reform victim
The Albanese government has found its next target, don't bank on a rate cut in 2026, and no matter how bad it gets there's always the UK.
Labor's poison pill
The Greens got their concessions, Labor got its tax hike, and the rest of Australia got a revenue grab dressed as neutral reform.
Caveat emptor
Pauline's big day, Hormuz is open (or is it?), and the biggest meme stock of all-time.
A nation divided
The rise of One Nation, Oil and the Strait of Hormuz, and the SpaceX IPO.
Treasury's imaginary gift
Indexing for inflation isn't a concession, and deferring tax until you sell isn't a loan.
Is Australia a high-taxing nation?
No, but tax-to-GDP is a highly misleading measure of the true tax burden.
When is a recession a recession?
Canada's technical recession, Australia's non-technical recession, and the worst public policy error in recent history.
Killing with kindness
The minimum wage increases that are a boon for some may eventually lead to lost jobs for others.
There will be no AI jobpocalypse
The economy's built-in roadblocks are bad news for anyone expecting an AI productivity miracle or an employment bloodbath.
Efficiency or revenue?
Treasury defends the tax hikes; Australia's economy might be slowing down; and Budget fun across the ditch.
It's not about the water
The arguments against data centres are a classic Gish Gallop designed to rile up emotions and obstruct investment.