Now only one AAA borrower – but so what?
In a world gone mad, as far as the old rules of fiscal prudence and investment are concerned, these downgrades matter not a jot.
Terry McCrann
Why Victoria’s lower credit rating is no big deal
If there was ever a good time to lose a AAA credit rating it’s now, writes Terry McCrann.
Future of economy’s stimulus depends on a vaccine
If a COVID vaccine does come quickly, pervasively and effectively, it will act like a massive multi-trillion dollar global stimulus to the world’s economy.
Iron ore is nation’s A-bomb in trade war
Australia has just one weapon in its armoury in any trade war with China – but any use of it should be measured and limited and clever.
Dan the villain is now nation’s hero
Victoria is now supercharging growth for the whole country as the state has emerged progressively from “Chairman Dan’s” near total lockdown.
Why Westpac needs to take same memo as CBA
Westpac getting pinged by prudential regulator APRA was much more than an embarrassment — given it could cost both the bank and its shareholders real money.
JobKeeper sets economy up for blast-off
Australia conquered the coronavirus, kept the economy ticking over and is kicking into 2021 in far, far better shape than just about everyone else.
Why dipping into super to buy a home should be allowed
Many have conerns about people dipping into their super to pay for their first home, but there are some good reasons why we should allow it.
Bega buys a future for all of us
Buying Lion Dairy and Drinks was literally make or break for Bega Cheese. Now, Barry Irvin must ensure it’s the making of the company.
A market boom made by central banks
Sure as day follows night, share and property prices keep rising. But are we all being led up the garden path, asks Terry McCrann.
The big risk with Victoria’s record spending
Who knew you could ring up a net debt of $155bn and people would barely blink an eye, writes Terry McCrann.
Skyrocketing debt is free for now
It makes sense for governments to borrow big, but they should move to lock in interest rates, writes Terry McCrann.
What happens when JobKeeper runs out?
JobKeeper has kept workers in their jobs and boosted the broader economy. But what happens when it stops, asks Terry McCrann.
Superannuation surplus is too much
Will an increased “superannuation guarantee” cost jobs? Or would a failure to increase it cost jobs and wages, asks Terry McCrann.
What NSW tax changes mean for the rest of us
NSW is moving to abolish property stamp duty in Tuesday’s budget, but the change is unlikely to impact the rest of the country, writes Terry McCrann.
ASIC needs a new leader and new direction
Scott Morrison was quick to demand Christine Holgate stand down over four watches, but where was his same fury for ASIC boss James Shipton who billed almost $119,000 for personal tax advice to the body, writes Terry McCrann.
Debt, debt, debt as far as the eye can see
It’s official. Australia’s three biggest states will all soon be wallowing in more than $100bn of debt each – on top of $1 trillion in federal debt. But does it matter? Terry McCrann answers.
The PM’s crazy free-trade fantasy
What can the PM expect our shiny new international trade deal to get us when China ignores the free-trade deal we already have, asks Terry McCrann.
World’s risky one-way bet
The people who govern us – both the politicians and the central bankers – are making a universal one-way bet. Here’s why it’s disturbing and very dangerous.
Costello is our 99 per cent man
In corporate life, former federal treasurer Peter Costello is notching up a remarkable record that is probably unrivalled in the developed world, says Terry McCrann.
Why the NBN must not be sold off
Any suggestion the NBN should be privatised is simply madness. It must stay in public hands, and to do otherwise would be vandalism on a national scale, writes Terry McCrann.
Why CPI inflation figures are a nonsense
Official figures tell us inflation is all-but non-existent, but in the real world — especially for one big group of Australians — nothing could be further from the truth, says Terry McCrann.
Why vaccine-induced market surge is premature
Sure, there may well be a coronavirus vaccine in the pipeline, but let’s not get ahead of ourselves. The benefit, at least economically, will take months to play out, writes Terry McCrann.
Politics not driving Wall Street bullishness this time
Global share markets are on the march but its expectations of further central bank stimulus, rather than the US election result, which is the key driver, writes Terry McCrann.
Big week brings closest thing to free money
After an extraordinary week, home loan borrowers and investors have to decide if they should grab the closest thing to “free money” they are ever going to see and lock it in for four years, writes Terry McCrann.
Big banks had a pretty good year
The big profit plunges reported by the big four banks do not give an accurate guide to how they actually performed through the year — they’ve come through the pandemic pretty well, writes Terry McCrann.
Packer’s Barangaroo dream becomes a nightmare
If the NSW casino inquiry’ final report concludes that Crown is not a suitable holder of the Barangaroo licence, either the licence or Crown will have to go. Either way, it’s complicated and ugly for James Packer, writes Terry McCrann.
The great disruptor exits
In the 1990s John Symond took on the big banks — and won. Since then he has delivered tens of billions of dollars in savings to bank customers and around a billion to himself, writes Terry McCrann.
Why Reserve Bank went zero-point-one
With the most widely anticipated Reserve Bank decision in years, and a strong rise overnight on a Wall St, our market has risen strongly — but it is headed for both immediate and longer-term volatility, writes Terry McCrann.
Holgate’s gone… Now the chairman must follow her
The departure of Christine Holgate as Australia Post chief casts a long shadow over the chairman of the postal service, who must now tender his own resignation, writes Terry McCrann.
No, the recession is not over
Despite the headlines you may have read this week, the whole country will still be in – yes, a milder – recession as we move into 2021. Terry McCrann explains why.
Australia Post chair digs his grave deeper
The chairman of Australia Post has zero understanding of the role and responsibilities of a board chairman, he has betrayed the corporation and its management and staff, and acted against the best interests of all Australians. So now he must go, writes Terry McCrann.
Prime Minister’s outrage over Aus Post chief proves selective
If Scott Morrison did not call for the sacking of ASIC chairman James Shipton or deputy chairman Daniel Crennan but still demanded Christine Holgate be sacked, he has revealed himself as a very small person, writes Terry McCrann.
Australia Post chairman must go after giant fail
In allowing Scott Morrison to suspend Australia Post chief executive Christine Holgate, chairman Lucio Di Bartolomeo has failed his most fundamental responsibilities. Now he must go, writes Terry McCrann.
How zero interest rates reset takeover offers
Dozy company boards need to wake up and realise zero global interest rates and multi-trillion dollar money printing have reset how takeover offers need to be valued, writes Terry McCrann.
What you can expect from the RBA on Cup Day
Melbourne Cup Day used to be a popular day for the Reserve Bank to change interest rates and more often than not to raise them. But come this Cup Day it seems all-but certain to be trimmed — or slashed, Terry McCrann explains why.
PM goes peak stupid over Aust Post boss
Scott Morrison’s attack on Australia Post’s chief executive Christine Holgate was not only hysteria on steroids, he also announced he is so disconnected that he does not understand how businesses work, writes Terry McCrann.
Why Myer must have its King to rule
Shareholders in the Myer department store group should be asking if this is really be a good time to be throwing the whole management and leadership of the battered company into chaos by voting to sack the chairman, asks Terry McCrann.
Victoria is the dead-weight state for recovery
Victoria is dragging down the rest of the country’s jobs recovery from the pandemic. But when we are back on track Australia can’t return to the old way of doing things, writes Terry McCrann.
Austrac follows the money in Crown Resorts probe
The nation’s financial crimes watchdog has worked out where the money is. But AUSTRAC’s case against Crown Resorts is unlikely to generate CBA or Westpac type fines, write Terry McCrann.
RBA governor’s message for Frydenberg
Philip Lowe’s announcement about interest rates was not only bad news for savers, but unintentionally sent a strong message to federal treasurer Josh Frydenberg, writes Terry McCrann.
Pressure on Andrews as JobSeeker end in sight
The race is on, with the JobKeeper end date rapidly approaching yet no end to lockdown in sight. Unless Daniel Andrews loosens his stranglehold on the economy, more Victorians will become officially unemployed, writes Terry McCrann.
Virgin’s tough new pilot
The honeymoon is over for Virgin and its new buyer, with the harsh reality of its new union setting in and some tough decisions looming in the near future, writes Terry McCrann.
Premiers take note: Aussies busting to go
Josh Frydenberg’s industrial strength hosing of money to just about everyone in the budget has raised consumer confidence in Australia, and yes, even in Melbourne, writes Terry McCrann.
Understanding our big China game
When China makes decision that affect us, all sorts of games could be in play that have absolutely nothing to do specifically with Australia; then again, they could be very precisely aimed at us, writes Terry McCrann.
Just another opening gambit
The $2.8bn bid for the Link investment services group is an entirely opportunistic and completely predictable undervalue opening gambit by the always avaricious private equity bottom feeders, writes Terry McCrann.
It’s decision time in a weird 2020
The idea that the coronavirus crisis is a choice between saving lives and saving the economy is false. Tough decisions can no longer be put off, writes Terry McCrann.
Frydenberg’s ‘dangerous’ budget proves fiscal restraint abandoned
Anthony Albanese’s team must have been burning the midnight oil – or running those Labor Party windmills at warp-speed – to find something that Frydenberg missed in the budget, because our treasurer sure spent money like there was no tomorrow.
Packer and Crown’s long-awaited divorce now inevitable
After an appearance at the NSW probity inquiry, it’s now finally clear James Packer and the Crown casino group’s relationship is locked into a journey that has only one destination — total and irreversible divorce, writes Terry McCrann.
Budget surpluses have gone forever
No government (or opposition) will ever again be able to claim they will deliver a surplus without the risk of being laughed into utter ridiculousness, writes Terry McCrann.
Original URL: https://www.dailytelegraph.com.au/business/terry-mccrann/page/15