Canada's borrowed wealth
Canada might be getting a sovereign wealth fund. Whether Canadians ever get any wealth out of it is a different question.
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Australia's coming inflation
The Strait of Hormuz delivered the price shock. Whether it becomes inflation is up to Canberra and Martin Place.
Gas, taxes, and wishful thinking
Comparing Australia's gas tax to Norway's is a masterclass in false equivalence that ignores physical and economic reality.
Low debt buys you optionality
Australia has been burning its fiscal buffers in the good times, leaving it with little in the tank for the next real crisis.
Australia's two fuel crises
How Canberra's response to the first is making the second worse.
The housing wealth illusion
Australia's $12.3 trillion housing stock isn't a pool of misallocated capital, but a mark-to-market valuation of a policy-induced supply constraint.
The economists who cried wolf
Argentina under Milei is a case study in how easily economists' politics can override the lessons of their own discipline.
Just another TACO Tuesday
Trump chickened out, markets rallied, and global consumers are left footing the bill for a new toll in the Strait of Hormuz.
Free public transport and a puppy
If you wanted to ease pressure on fuel prices, free public transport would be near the bottom of the list.
Albanese's convenient crisis
Albanese is framing a foundational principle of prosperity as a policy failure because it makes a convenient origin story for the intervention he already wanted.
The GST windfall that isn't
State Premiers are performing generosity with a GST windfall that doesn't exist, adding to debt and stoking inflation at the worst possible time.
How much fuel does Australia really have?
Australia's fuel reserves are thin, but they aren't the reason you're paying more at the pump.
Energy
There's no shortage of bad ideas in Australia
Almost every proposed response to Australia's fuel crisis would make it worse.
Inflation
The RBA is losing the war on credibility
The RBA spent 2025 fuelling a fire it now lacks the credibility to extinguish.
Politics
The economics of a Liberal bloodbath
When your political strategy relies on a version of the economy that hasn't existed since 1960, a historic bloodbath is the only logical outcome.
Energy
Oil is already being rationed
The biggest risk for Australia isn't the oil shock itself but that the urge to "do something" worsens the situation before the crisis is resolved.
Energy
The oil shock in context
Australia's current oil crisis is a race between a rapid global supply response and the domestic urge to 'do something' that inevitably makes the situation worse.
Tax
The capital gains tax discount is a red herring
The CGT debate is a distraction from a much harder truth: Australia's tax and transfer system is no longer fit for an aging population.
Inflation
Australia's inflation problem is home-grown
Australia's underlying inflation problem was made in Canberra and Martin Place, not Tehran.
Artificial Intelligence
Paul O'Malley's misunderstandings about AI and trade
The risk to Australia isn't using AI built elsewhere but letting domestic incumbents like CBA use 'sovereignty' as a shield for protectionism.
Productivity
Australia's labour market is becoming like its housing market
By treating labour like a durable capital stock, Australia is legislating its workforce into the same rigid corner as its housing market.
Commodities
How not to respond to a supply shock
Allegra Spender's windfall tax idea would blunt price signals at exactly the moment you need them the most.
Inflation
Oil shocks don't cause inflation
The Iran war won't cause inflation unless central banks let it.
Inflation
Australia's cockroach problem
Domestic inflation never came close to target during the RBA's easing cycle, and just like cockroaches, it's back again.