This isn't really 'news' to YAL holders but shows what the more...

This isn't really 'news' to YAL holders but shows what the more sensible people in MSM are stating:

(from 'The Australian' - Judith Sloan column):

"...There are also clouds on the economic horizon in terms of what is happening in many countries. The prospect of inflation rising further, including via the effect of higher energy costs and potential wage-price spirals, has governments and central banks rifling through the economic manual for courses of action. Having endured two years of pandemic restrictions, even with government assistance, the public in many countries is irritated by slow wage growth and rising cost of living. The fact there are no easy solutions for governments points to persistent and possibly rising grumpiness on the part of voters and consumers.

In one sense Australia is better placed than many countries because of its abundance of commodities in strong demand, in part because of Russia’s invasion of Ukraine. The March budget contained pessimistic assumptions about movements in the price of iron ore and coal that already look wildly inaccurate.

According to Treasury, “key commodity prices are assumed to decline from current elevated levels by the end of the September quarter 2022”. So Treasury’s thinking was that in less than six months iron ore would be trading at $US55 a tonne; metallurgical coal would be down to $US130 a tonne and thermal coal would be $60 a tonne.

Precipitous declines of this magnitude were extremely unlikely. Those commodities are currently trading at two to three times those prices. In effect, we as a country are being awarded a pay rise by virtue of higher commodity prices, which is leading to higher government revenue (and royalty income for states)..."