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.
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.
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.
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).
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.
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
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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Feature Story
Obama touts 'strong alliance' after Japan revolution
All House Harris News Articles are individually selected by The Editor
Main Feature Story
Australian economy outperforms rest of world
By Colin Brinsden, Economics Correspondent
Wed Sep 2 22:39:13 EST 2009
CANBERRA, Sept 2 AAP - The Australian economy grew at its fastest pace in more than a year in the three months to June, buoyed by the federal government's stimulus measures and near record-low interest rates.
Australia is in better shape than other major advanced economies which have suffered at the hands of the global recession, but economists say this means the Reserve Bank of Australia (RBA) is likely to lift interest rates sooner rather than later.
While obviously relieved that growth was positive for a second consecutive quarter, after one negative quarter late last year, the government was cautious about being too optimistic.
"The global economy is not out of the woods yet by a long stretch and this economy, Australia's, is an integral part of the global economy, that's why we have implemented this nation building for recovery plan," Prime Minister Kevin Rudd told reporters in Perth.
"With the stimulus ... Australia is now the only advanced economy in the world to have produced positive growth over the last 12 months, which is why, generally, our unemployment rate is better than most other economies."
The June quarter national accounts released on Wednesday showed gross domestic product (GDP) grew by a solid 0.6 per cent, three times larger than the 0.2 per cent economists had forecast after this week's dour economic readings.
It also outpaced the 0.4 per cent growth seen in the March quarter, although it still left annual growth at a slim 0.6 per cent.
Regularly Updated News As It Arrives From The Editor
House Harris News
EUR: Oopsie! Police slash research hemp instead of pot
THE HAGUE, Sept 3 AP - Dutch police who mowed down what they thought were illicit marijuana plants were red-faced on Thursday when it emerged they'd ruined a research group's giant, officially sanctioned field of harmless hemp. More...
UK: Swan warns against early withdrawal of economic stimulus
Australian Treasurer WAYNE SWAN is warning premature withdrawal of economic stimulus could derail a global recovery .. on the eve of the G20 finance ministers' meeting in London. More...
US: Spacewalk still on despite approaching space junk
CAPE CANAVERAL, Florida, Sept 3 Agencies - A large piece of space debris drifted toward the International Space Station on Thursday, but NASA said it would not affect the second of three spacewalks outside the orbiter. More...
EUR: Swiss, Chinese unveil breakthrough swine flu vaccines
BASEL, Switzerland, Sept 3 AFP - Swiss pharmaceutical giant Novartis says it has tested a new swine flu vaccine that may require only one dose while China has also unveiled a one-dose drug designed to curb the pandemic. More...
EUR: World heading for climate 'abyss': UN chief
GENEVA, Sept 3 AFP - The world is accelerating towards a climate catastrophe, UN chief Ban Ki-moon has warned, urging rapid progress in talks to cut emissions and tackle global warming. More...
EUR: OECD predicts earlier recovery than forecast
PARIS, Sept 3 AP - The world economy is headed for an earlier recovery than previously forecast, although the pace of the rebound will likely remain modest for some time to come, the OECD says. More...
CAMFidel Castro says he and Oliver Stone spoke of Bush "horrors"
HAVANA, Sept 3 AFP - Fidel Castro discussed the political "errors and horrors" of former US president George W Bush with filmmaker Oliver Stone, the Cuban leader wrote on Thursday. More...
US: Finger bitten off during California health protest
THOUSAND OAKS, California, Sept 3 AP - California authorities say a clash between opponents and supporters of health care reform ended with one man biting off another man's finger. More...
US: Finger bitten off during California health protest
THOUSAND OAKS, California, Sept 3 AP - California authorities say a clash between opponents and supporters of health care reform ended with one man biting off another man's finger. More...
Fed: Stimulus school signs to get disclaimer sticker
CANBERRA, Sept 3 AAP - The federal government will place disclaimer stickers on signs outside schools advertising its stimulus measures after criticisms they could influence voters on election day. More...
AFR: Lockerbie bomber taken to intensive care
TRIPOLI, Sept 2 AP - The only man convicted in the 1988 Lockerbie bombing was taken to intensive care on Wednesday after his illness from terminal prostate cancer worsened, family members said. More...
US: Pfizer to pay record $2.3B penalty over promotions
WASHINGTON, Sept 2 AP - Pfizer Inc, the world's largest drug maker, will pay a record $US2.3 billion ($A2.78 billion) civil and criminal penalty over unlawful prescription drug promotions, the Justice Department announced on Wednesday. More...
MID: Israeli archaeologists find ancient fortification
JERUSALEM, Sept 2 AP - Archaeologists digging in Jerusalem have uncovered a 3,700-year-old wall that is the oldest example of massive fortifications ever found in the city, the Israel Antiquities Authority said Wednesday. More...
AFR: Lockerbie bomber in intensive care: Libyan official
TRIPOLI, Sept 2 AFP - The convicted Lockerbie bomber, released from a Scottish jail last month on compassionate grounds because of terminal cancer, has been admitted to hospital intensive care in Tripoli, a Libyan official said on Wednesday. More...
ASIA: Freed reporters describe North Korea ordeal
SEOUL, South Korea, Sept 2 AP - Two female US journalists imprisoned in North Korea for months say communist soldiers "violently dragged" them back when they returned to Chinese soil after briefly crossing into the reclusive country. More...
ASIA: 23 dead in Indonesia quake: official
JAKARTA, Sept 2 AFP - At least 23 people were killed when a powerful 7.0-magnitude earthquake struck off Indonesia's Java island on Wednesday, an official said. More...
ASIA: 'Spiderman' fined over Malaysia Twin Towers climb
KUALA LUMPUR, Sept 2 AP - A French climber nicknamed "Spiderman" has been fined 2,000 ringgit (about $A700) for climbing Malaysia's 88-story Petronas Twin Towers. More...
Economic growth all about "stimulus"
CANBERRA, Sept 2 AAP - The ability of the Australian economy to grow while the rest of the world is in recession is all down to the federal government's economic stimulus. More...
Aust economy outperforms rest of world
CANBERRA, Sept 2 AAP - The Australian economy grew at its fastest pace in more than a year in the three months to June, buoyed by the federal government's stimulus measures and near record-low interest rates. More...
ASIA: Dalai Lama in Taipei as nephew says 'gag order' imposed
Eds; replaces earlier copy transmitted in error More...
FED: Dementia on the rise, experts warn
SYDNEY, Sept 1 AAP - The number of Australians living with dementia will top one million within 40 years, as a wave of baby boomers hits the nation's nursing homes. More...
UK: UK police to review Rolling Stones guitarist death
LONDON, Aug 31 AP - British police say they will review the death of Rolling Stones guitarist Brian Jones, whose 1969 drowning was ruled an accident but sparked decades of speculation that he was murdered. More...
CIS: Putin blames WWII on West's deal with Hitler
WARSAW, Poland, Aug 31 AP - Russia's prime minister on Monday condemned Moscow's 1939 treaty with Berlin that carved up Europe, as well as a British and French pact with the Nazis, in remarks published before the 70th anniversary of the start of World War II. More...
JPN: Obama touts 'strong alliance' after Japan revolution
WASHINGTON, Aug 31 AFP - US President Barack Obama has called on Tokyo to maintain a strong alliance with Washington, while Asia-Pacific leaders have sought closer ties out of the historic shift in power after Japan's general election. More...
UK: UK police to review Rolling Stones guitarist death
LONDON, Aug 31 AP - British police say they will review the 1969 death of Rolling Stones guitarist Brian Jones. More...
LONDON, Aug 31 AP - The decision to release the only person convicted in the Lockerbie bombing was based on justice rather than commercial decisions, a senior Scottish politician said on Monday. More...
US: US stocks tumble after China sell-off rocks markets
NEW YORK, Aug 31 AFP - US stocks opened lower on Monday as a sharp Chinese sell-off weighed on sentiment amid jitters over whether the global economy has enough momentum to pull out of recession. More...
UK: Swine flu fears factor in possible school closures
LONDON, Aug 31 AP - As schools around the world reopen, health authorities are bracing for a major spike in swine flu. More...
ASIA: Australian among 5,000 prisoners released in Vietnam amnesty
HANOI, Aug 31 AP - An Australian is among more than 5000 prisoners Vietnam will release as part of an annual prison amnesty. More...
US: California wildfire threatens up to 12,000 homes
LOS ANGELES, Aug 21 AP - A bushfire in California threatened up to 12,000 homes on Monday, a day after two firefighters were killed when their vehicle was overrun by fast-moving flames and rolled down a mountainside. More...
US: Obama touts 'strong alliance' after Japan revolution
Vic: Megafire warning, more clearing part of bushfire defences
MELBOURNE, Aug 31 AAP - The Victorian government is set to announce a new "megafire" fire danger warning as part of a raft of policy changes in response to the bushfire royal commission's interim report. More...
Fed: Small earthquake strikes Snowy Mountains
CANBERRA, Aug 30 AAP - A small earthquake has struck the Snowy Mountains. More...
US: Firefighters battle fierce California wildfires
LOS ANGELES, Aug 30 AFP - Raging southern California wildfires showed no signs of abating early on Sunday, injuring three people and prompting evacuation of 4,000 homes a day after Governor Arnold Schwarzenegger declared a state of emergency. More...
US: US wildfire surges in size, threatens thousands
LOS ANGELES, Aug 30 AP - A wildfire in the mountains above Los Angeles has surged in every direction, going in a single day from a modest threat to a danger to some 10,000 homes. More...
UK: Mandela backs Lockerbie bomber release: Scottish official
LONDON, Aug 30 AFP - Nelson Mandela has written to the Scottish government to express his support for its decision to release the Lockerbie bomber on compassionate grounds, officials say. More...
US: US shuttle Discovery closes in on space station
CAPE CANAVERAL, Florida, Aug 30 AFP - The US shuttle Discovery chased the International Space Station (ISS) on Sunday to deliver a treadmill, food and a laboratory freezer to the orbiting outpost. More...
NSW: Bushfires set to burn for several days
SYDNEY, Aug 30 AAP - Bushfires on the NSW south coast will remain a threat to life and property for at least several days, says the Rural Fire Service (RFS), while firefighters also battle fires on the Central Coast. More...
ASIA: India suffers blow to space ambitions
BANGALORE, India, Aug 29 AFP - India's first moon mission, launched amid much fanfare last year, came to an abrupt end after controllers lost contact with the country's lunar craft, the national space agency said. More...
US: Fierce wildfires force evacuations in California
LOS ANGELES, Aug 29 AP - A growing wildfire in the mountains north of Los Angeles has spread over nearly 23 square kilometres of bone-dry forest, forcing evacuations and sending up massive billows of smoke that are hampering air operations, officials say. More...
QLD: More hot weather after day of grass fires
Queensland will swelter again in unseasonably high temperatures .. with concerns more fires could be sparked after yesterday's blazes in the state's north kept firefighters busy. More...
New South Wales police say motorists continue to ignore road safety messages .. after nine people died within 24 hours late last week on the state's roads. More...
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