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Standing Wager
Merchant of gloom makes a bet

29 Nov 2008 2:30 AM

An academic who expects zero interest rates within two years and a 40 per cent drop in house prices has promised to walk from Canberra to the top of Australia's highest mountain if he's wrong.

University of Western Sydney associate professor of economics and finance STEVE KEEN made the bet with Macquarie Group interest rate strategist RORY ROBERTSON.


High Scores Longest Chase
Police chase stolen car 250km from Wagga to Canberra

20 Jan 2009 12:21 PM

CANBERRA, Jan 20 AAP - Police have arrested a 26-year-old man in Canberra following a 250km high-speed car chase that started in south-western NSW.

NSW police started pursuing the stolen car in Wagga Wagga on Tuesday morning and ACT Policing took up the chase when the driver crossed the border into the territory.


High Scores
Police dissappointed by young drivers

14 Dec 2008 4:28 PM

Police have arrested a man for driving at 237 kilometres-an-hour on Sydney's Hume Highway.

And .. they say they are extremely disappointed with instances of irresponsible driving by young and inexperienced motorists overnight.


High Scores Possible New Blow
Man blows six times legal limit

31 Dec 2008 2:16 PM

BRISBANE, Dec 31 AAP - Queensland police have caught a man with an alleged blood alcohol reading more than six times the legal limit.

A 28-year-old man from Peak Crossing was stopped overnight for a random breath test in the nearby town of Boonah, south-west of Brisbane, and allegedly blew .303 per cent.


High Scores
P-plate driver returned blood alcohol reading of 0.265

06 Dec 2008 8:18 AM

SYDNEY, Dec 6 AAP - A P-plate driver has returned a blood alcohol reading of 0.265 after allegedly flagging down a police car in northern NSW.

Police said a 26-year-old woman had her licence confiscated after she returned a high-range PCA reading near Tamworth about 8pm (AEDT) on Friday.


Porsche vs Bikes
Porsche and motorcycles in 224km/h road race

20 Dec 2008 4:24 PM

SYDNEY, Dec 20 AAP - The drivers of a Porsche and two motorcycles have had their vehicles confiscated after reaching speeds of more than 220km/h in an alleged road race.

Police say the three men were racing along a 100km/h zone of the Pacific Highway on the far north NSW coast on Saturday about 10.40am (AEST).


Turbo Rice vs RX7
Two drivers to stand trial over passenger death

15 Dec 2008 5:38 PM

MELBOURNE, Dec 15 AAP - Two young men accused of drag racing before a crash that killed a 15-year-old boy will stand trial.

Mitchell Cairnduff, of Wheelers Hill, died when a turbo-charged Mitsubishi Lancer driven by Jarrod Rooke hit a taxi at 120km/h, the Melbourne Magistrates Court heard.


High Scores Oldest Hoon
I'm a skilled driver, says 78yo hoon

By Michelle Draper 06 Jan 2009 5:31 PM

MELBOURNE, Jan 6 AAP - A 78-year-old hoon caught speeding at 170km/h on a narrow country road on New Year's Day told police he was a skilled race driver.

Victorian Premier John Brumby, however, was not impressed with John Belfield's claims, labelling Australia's oldest hoon driver an "idiot", while police said he was toying with death.i


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A Very Normal News Publication
Heralding the arrival of a new publication from The Weird House, the first edition of House Harris, a news publication that should provide a window into current affairs in Australia with articles from the Australian Associated Press who should be credited and duly paid their royalties.
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This is the thing, I actually don't have any dosh and I'm trying to figure out a way to make House Harris work. At the moment the only thing I can do to make revenue is the Google Adsense Ads seen on the newsarticle pages. If you could see your way clear to visit the advertisers from time to time it would help support House Harris.
Feature Story Declining jobs trend to produce some surprisingly big falls

SYDNEY, May 4 AAP - The trend in employment will turn downward with "rogue" figures showing very steep monthly falls will grow more frequent.

At last measure in March the trend measure of the number of people with jobs estimated by the Australian Bureau of Statistics (ABS) was falling at 5,000 per month.


Feature Story US economy leads the way downhill with Aust close behind

SYDNEY, April 30 AAP - Now is a good time to remind yourself that the past two years, when economic growth in Australia outpaced growth in the United States, were out of the ordinary.

In the past decade Australia has shown tantalising signs of shrugging off its historical tendency to mimic the ups and downs in the US economy.


Feature Story Long-term jobless lessons of '90s recession

CANBERRA, April 24 AAP - Even as Australia sinks into recession for the first time in 18 years, one statistic is still overlooked by the daily news cycle - long-term unemployment.

The Australian Bureau of Statistics defines long-term unemployment as someone of working age who has been out of a job for 12 months or more.


Feature Story Global recession engulfs once booming economy

CANBERRA, April 21 AAP - The global recession - the consequence of many Americans being unable to pay their highly-complex home loans two years ago - has claimed another victim ... us.

Reserve Bank of Australia (RBA) governor Glenn Stevens confirmed most economists' suspicions on Tuesday that the Australian economy is already in recession, for the first time since the early 1990s.


Feature Story Long-term joblessness to persist long after economic recovers

SYDNEY, April 16 AAP - Long after the recession has ended, consumers have resumed spending and businesses are investing once again, one group will be left behind - the long-term unemployed.

It has long been known that demand for labour waxes and wanes in response to changes levels of production of goods and services.


Feature Story US captain's rescue raises stakes in piracy ops

KUALA LUMPUR, April 13 AP - The killing of three Somali pirates in the dramatic US Navy rescue of a cargo ship captain has sparked concern for other hostages and fears the stakes have been raised for future hijackings in the lucrative Indian Ocean shipping lane.

Sunday's rescue followed a raid at sea on Friday by French navy commandos, who stormed a pirate-held sailboat, the Tanit, killing two pirates and freeing four French hostages. The French owner of the vessel was killed in the assault.


Feature Story Jobless rate hits 5-year high and worse to come - economists

SYDNEY, April 9 AAP - Australia has posted the largest monthly jump in unemployment in 18 years, as the global downturn hits the local economy.

The nation's jobless rate rose 0.5 percentage points in March to 5.7 per cent, a five-and-a-half year high, Australian Bureau of Statistics (ABS) data on Thursday showed.


Feature Story Obama leads world condemnation of North Korea

PRAGUE, April 5 AFP - US President Barack Obama led global condemnation of North Korea's rocket launch on Sunday, calling it "a provocative act" for which Pyongyang must be punished.

South Korea said it was "reckless" and put its armed forces on heightened alert, as did Japan. China and Russia pleaded for restraint as the UN Security Council was summoned to an emergency session in New York later on Sunday.


Feature Story World stocks skyrocket after G20 summit boost

LONDON, April 2 AFP - Global stocks shot up on Thursday amid greater optimism following a G20 summit in London that boosted efforts to save the world economy and after an uptick in US manufacturing orders.

On Wall Street, the Dow Jones Industrial Average rose 3.45 per cent and the tech-heavy Nasdaq index was up 3.83 per cent at 1600 GMT.


Feature Story Rain too much, too soon, says Coffs mayor

SYDNEY, April 1 AAP - Too much, too quick and too soon after February's devastating floods - that's how Coffs Harbour mayor Keith Rhoades describes the latest deluge.

The regional hub on the NSW mid-north coast is mopping up after torrential rain completely isolated the town.


Feature Story NSW activity property market to increase, says industry

SYDNEY, March 25 AAP - Activity in the NSW property market is expected increase over the first half of 2009 as buyers return tempted by lower interest rates and government grants, an industry body says.

The Real Estate Institute of NSW (REINSW) says the return of first home buyers has "re-energised" the state's property market.


Feature Story Rudd's personal popularity at near record levels

SYDNEY, March 24 AAP - Prime Minister Kevin Rudd's personal popularity has returned to near record levels, while opposition leader Malcolm Turnbull has lost support, according to the latest Newspoll.

Mr Rudd's rating grew by four percentage points to 65 per cent in the past two weeks on the question of who would make the better prime minister, just one point short of his highest rating last December.


Feature Story Back to soul searching for LNP after election loss

BRISBANE, March 21 AAP - Queensland's Liberal National Party will look to a new leader as it laments an election result that by past standards was good, but not quite good enough.

Despite polls predicting a photo finish, and talk of a hung parliament or a minority LNP government, the newly merged conservative party managed only a 3.5 per cent swing.


Feature Story Labor, LNP set for photo-finish in Qld poll

BRISBANE, March 21 AAP - Queensland voters are set to make history when the polls open at 8am (AEST) on Saturday.

The latest opinion poll, a Newspoll to be published in The Australian on Saturday morning, shows Labor and the Liberal National Party (LNP) locked on 50 per cent of the vote, after the distribution of preferences.


All House Harris News Articles are individually selected by The Editor
Main Feature Story
Big budget deficit fault of government's of "both stripes"

By Colin Brinsden, Economics Correspondent 11 May 2009 12:01 AM

CANBERRA, May 11 AAP - Massive government spending in the boom times means the federal budget will be deep in deficit well after the global financial crisis has disappeared, an independent forecaster says.

Access Economics is forecasting a $58.9 billion deficit for Tuesday's 2009/10 budget, allowing for an extra $9 billion of infrastructure spending and $3.9 billion for pension reform.

In its Budget Monitor, it expects a $53.2 billion deficit in 2010/11.

For 2009/10, the deficit would represent 5.0 per cent of gross domestic product (GDP), trumping the deficits racked up during the early 1990s recession and the deficits of the Whitlam years, it says.

Access economist Chris Richardson says the damage to the budget bottom line was done well before the past year.

"The boom in the budget in recent years was brilliant. We then promptly spent most of it," Mr Richardson told AAP.

Continued .....

Regularly Updated News As It Arrives From The Editor
House Harris News

Pensioners and new mums to win amid budget slash and burn
CANBERRA, May 11 AAP - Single age pensioners and new parents will be among the few winners in a budget expected to inflict pain on Australians across the board.

Forecast jobless rate would be 10pc without stimulus - Rudd
CANBERRA, May 11 AAP - Australia's forecast jobless rate would be as high as 10 per cent without the stimulus measures the government has put in place according to Treasury advice, Prime Minister Kevin Rudd says.

Fed: States should be abolished, Barnaby Joyce says
Nationals Senate Leader BARNABY JOYCE says state governments are fast becoming irrelevant and could be abolished in the future.

FED: Govt set to crack down on middle class welfare
CANBERRA, May 11 AAP - The cash-strapped federal government is unlikely to deliver its multi-billion plan for widespread pension reform but has pledged to deliver paid parental leave from January 2011.

Fed: 'Green tinge' to budget?
CANBERRA, May 11 AAP - There could be a "green tinge" to the federal budget as the government tries to ramp up the fight against climate change.

Fed: Warships to be built with Aussie steel
CANBERRA, May 11 AAP - Three and maybe four advanced air warfare destroyers are to be built with Aussie steel.

Fed: Motorists to face rising petrol prices as oil jumps
CANBERRA, May 11 AAP - The past week has seen the biggest fall in petrol prices in five months, but motorists should brace for a sting at the bowser as global oil prices surge.

Fed: More than half of Aussie households haven't got digital
SYDNEY, May 11 AAP - More than half of Australian households are yet to embrace digital television, new figures from measurement company OzTAM show.

Fed: Nationals would oppose any ETS in any form: Joyce
The Nationals won't be budging from its opposition to an emissions trading scheme .. despite its coalition partner saying it's considering supporting the federal government's plan .. when it comes up in the Senate.

MID: Pope visit unites Israel's gays and far-right
JERUSALEM, May 10 AFP - Gays, Holocaust survivors and the far-right have all found an unlikely common cause in their opposition to Pope Benedict XVI's landmark visit to Israel.

US: Firefighters head for victory against California fire
Firefighters are headed for victory in their battle against a California bushfire .. as a cool weather front allowed crews to tighten their grip on the blaze.

CHI: China reports first suspected mainland swine flu case
BEIJING, May 10 AFP - China on Sunday announced the first suspected case of swine flu on the mainland -- a man in southwestern Sichuan province recently returned from the United States, state media reported.

EUR: France reports 13th case of swine flu
PARIS, May 10 AP - France is confirming one more new case of swine flu, bringing the country's total number of cases to 13.

Fed: Big budget deficit fault of government's of "both stripes"
CANBERRA, May 11 AAP - Massive government spending in the boom times means the federal budget will be deep in deficit well after the global financial crisis has disappeared, an independent forecaster says.

Fed:Nearly quarter of households suffering mortgage stress
CANBERRA, May 11 AAP - More than 1.3 million households are suffering mortgage stress despite low interest rates, a new survey has found.

UK: Britain reports 7 more cases of swine flu
LONDON, May 10 AP - British health officials have confirmed seven new cases of swine flu, bringing the national total to 55.

SAM: Fake Colombian nurse 'vaccinates' 197 people
BOGOTA, May 8 AFP - After a row with her lover, a woman sought revenge by administering fake flu vaccines to 197 people at a Colombian institute before being caught, health officials said on Friday.

NSW: Police arrest couple over 19-month-old murder
SYDNEY, May 9 AAP - Police have arrested a man and woman in connection with the 2007 murder of NSW Central Coast surfer Luke Hankey.

NSW: Bikies not linked to driveby shooting: police
Investigators have ruled out bikie gang involvement in Sydney's latest driveby shooting .. which narrowly missed two occupants of a house.

US: Hackers breach US air traffic control computers: audit
WASHINGTON, May 8 AFP - Hackers broke into US air traffic control computers on several occasions over the past few years and increased reliance on web applications and commercial software has made networks more vulnerable, according to a government audit.

Vic: Hunt found guilty of road rage attack
MELBOURNE, May 8 AAP - In 14 years as a policeman Rex Hunt learnt to defend himself with force.

NSW: Liati to serve the community for lying in police statement
SYDNEY, May 8 AAP - When she lied under oath, Angela Liati's intention was to "assist a fellow human", but she must now provide assistance of a different kind, with 200 hours of court-ordered community service.

Fed: Homes to get "green loans"
CANBERRA, May 7 AAP - Households will be given low-interest $10,000 loans to green up their homes under a federal government scheme to be detailed on Friday.

PAC: Ex-army gunman shooting at police in NZ siege
WELLINGTON, May 7 NZPA - A 51-year-old former territorial army member is firing a high-powered rifle sporadically at New Zealand police officers who have surrounded his central Napier home.

PAC: Armed man keeps police at bay after fatal NZ shooting
A 51-year-old man armed with a high-powered rifle remains inside a house in Napier after three police officers and a civilian were shot during a routine drug search this morning.

Fed: Australia must stay vigilant against swine flu - Roxon
MELBOURNE, May 7 AAP - Australia must remain vigilant against swine flu despite signs the threat is receding around the world, Federal Health Minister Nicola Roxon says.

NSW: Rewards doubled as police target ATM bandits with dye bombs
The New South Wales government has doubled the reward it's offering to anyone with information leading to a conviction over a spate of ATM explosions .. to 200-thousand dollars.

FED: Jobless fall not due to govt stimulus: Hockey
SYDNEY, May 7 AAP - A fall in the nation's jobless rate is good news but is not the result of the federal government's stimulus packages, the opposition says.

NSW: Double murder in Sydney's west, police say
SYDNEY, May 7 AAP - Two men found dead in a Sydney house may have been the victims of a double murder, police say.

IRE: Irish student's Wikipedia hoax fools newspapers
DUBLIN, May 6 AFP - An Irish student's fake quote on the Wikipedia online encyclopaedia has been used in newspaper obituaries around the world, the Irish Times reported on Wednesday.

Vic: Man charged over four deaths in West Gate crash
A man's been charged with culpable driving over a fiery car crash that killed four teenagers on the West Gate Freeway in December 2007.

NSW: Penalty for child sexual intercourse increases to life
SYDNEY, May 6 AAP - Life in prison is to be the penalty in NSW under new legislation for sexual intercourse with a child under 10 during a break in.

FED: Swine flu sparks bogus online drug sales
SYDNEY, May 6 AAP - Australians are being warned not to fall prey to internet scammers trying to cash in on fears about swine flu.

FED: Swine flu sparks bogus online drug sales
Australians are being warned not to fall prey to internet scammers trying to cash in on community concerns over swine flu.

Qld: Gas plant shows energy potential
ROMA, Qld, May 6 AAP - What oil is to the Middle East, coal seam gas could be to southwest Queensland as a $250 million project opened on Wednesday to tap the seemingly unlimited supplies of the clean, green fossil fuel.

Santos shrugs off recession fears, predicts growth
ADELAIDE, May 6 AAP - Australia's third biggest oil and gas producer Santos Ltd says it will defy a global recession and target further growth.

MID: Iran hangs drug traffickers in mass execution: reports
TEHRAN, May 6 AFP - Iran has hanged eight men convicted of drug trafficking and another man found guilty of murder, press reports said on Wednesday.

Australia more resilient to crisis than UK, US, says Westfield
SYDNEY, May 6 AAP - Westfield Group, the world's largest shopping centre owner, says its business remains resilient dpesite the global recession, with its Australian operations leading the way.

NT: Mandatory child sex reporting could result in pregnancies
A peak doctors group says laws requiring Northern Territory GPs to report all sexual activity by children could result in more teenage pregnancies and increased sexually transmitted diseases.

EUR: Famed Nefertiti bust a fake: expert
PARIS, May 5 AFP - The bust of Queen Nefertiti housed in a Berlin museum and believed to be 3,400 years old in fact is a copy dating from 1912 that was made to test pigments used by the ancient Egyptians, according to Swiss art historian Henri Stierlin.

Fed: People confused over govt's approach to economy: Turnbull
SYDNEY, May 5 AAP - Australians are worried the federal government's debt will stop the economy recovering from the downturn, Opposition Leader Malcolm Turnbull says.

Fed: Flu drug to be rationed in Australia
CANBERRA, May 5 AAP - The supply of Tamiflu, used to treat potentially deadly swine flu, will be rationed in Australia after a rush on the anti-viral drug.

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