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.
22 March 2026
Archived posts
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.
20 March 2026
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.
18 March 2026
Australia's inflation problem is home-grown
Australia's underlying inflation problem was made in Canberra and Martin Place, not Tehran.
16 March 2026
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.
12 March 2026
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.
11 March 2026
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.
9 March 2026
Oil shocks don't cause inflation
The Iran war won't cause inflation unless central banks let it.
6 March 2026
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.
4 March 2026
Housing's favourite villain
Australia is obsessed with taxing the supposed villains of the housing market while ignoring the restrictive zoning laws that actually lock people out.
2 March 2026