The UK general election is over. Boris Johnson and his party have had a massive win, Labor (without Jeremy Corben) look like two term losers. Now the real grunt matters are up for conclusion. BREXIT is going to happen. Will it be ‘hard’ or ‘soft’ BREXIT or ‘sorry chaps we’re out of the EU’.
Will Scotland apply to join the EU, will Ireland be unified as part of the EU, will the UK be freed from EU bureaucracy?
Australia’s struggling economy
John Durie of the Oz reports the latest NAB business survey. The main result is more than a bit worrying. ‘The latest NAB business survey is bad news for the economy with business conditions flat, confidence down and the outlook also worse.
‘In short, there is a desperate need for action from the federal government.
‘Sadly the Morrison government is the master of setting up inquiries, creating task forces, changing names of government departments, promising investment allowances but not until the next budget, and talking about stuff but doing nothing.’
But please note a Roy Morgan survey says that consumer optimism has improved. If this is accurate, Scomo and Phillip Lowe will take comfort for a shaft of light in the general gloom.
Vale Paul Volcker by Martin Wolf
‘Paul Volcker is the greatest man I have known. He is endowed to the highest degree with what the Romans called virtus (virtue): moral courage, integrity, sagacity, prudence and devotion to the service of country.”
‘Thus did I open my review of his memoir, 'Keeping At It: The Quest for Sound Money and Good Government', published last year. As Hamlet said of his father, “He was a man, take him for all in all. I shall not look upon his like again”.’
Visit to Malaysia