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
IMF upgrades point to substantial budget revisions
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Main Feature Story
Two more rate rises likely this year as jobless rate falls
By Colin Brinsden, Economics Correspondent
Thu Oct 8 22:18:05 EST 2009
Thu Oct 8 11:18:05 UTC 2009
CANBERRA, Oct 8 AAP - An unexpected fall in the jobless rate to a four month low of 5.7 per cent has hardened expectations for another two interest rate rises before Christmas.
Economists say such strength in the labour market has also raised question marks as to whether the federal government should continue with its stimulus measures.
A surprising jobs report for September released on Thursday justified the Reserve Bank of Australia's (RBA) decision to raise the cash rate this week, while stunning both financial markets and economists.
Not only did the unemployment fall to 5.7 per cent after three months of holding at 5.8 per cent, employment grew by a hefty, seasonally adjusted 40,600, which was largely made up of 35,400 full-time workers.
This was in sharp contrast to the 10,000 fall in jobs and six per cent jobless rate economists were expecting.
"To suggest today's outcome was an impressive result is an understatement," RBC Capital Markets senior economist Su-Lin Ong said.
Regularly Updated News As It Arrives From The Editor
House Harris News
Blaze encroaching on northern NSW village
SYDNEY, Oct 14 AAP - Firefighters are battling to protect the northern NSW coastal township of Brooms Head from a blaze that broke out on Wednesday afternoon. More...
Australia's biggest telescope turns 35
CANBERRA, Oct 14 AAP - Australia's largest telescope will celebrate its 35th year capturing infrared images and exploring the southern sky. More...
Abu Ghraib guard appeals to US military high court
WASHINGTON, Oct 14 AP - A female soldier who was photographed at Abu Ghraib prison giving a smiling "thumbs-up" beside a pyramid of naked detainees is appealing her convictions to the US military's highest court. More...
Governor of Japan's Okinawa backs US airbase accord
TOKYO, Oct 14 AFP - The governor of Japan's Okinawa prefecture said a US military base could stay on the island, officials said on Wednesday -- the latest twist in a row weeks before President Barack Obama visits the country. More...
CIS: Russia must speak out on rights abuses: Clinton
MOSCOW, Oct 14 AFP - US Secretary of State Hillary Clinton on Wednesday urged Russia to take a stronger line on rights abuses, saying it was time for the government to speak out against killings and wrongful detentions. More...
Euro industry output rises 0.9 per cent in August
BRUSSELS, Oct 14 AP - Industrial output in the 16 nations that use the euro rose 0.9 per cent in August from a month earlier, the EU statistics agency said Wednesday, suggesting the region's economy is recovering gradually. More...
CIS: Russian gays ask Clinton for support
MOSCOW, Oct 14 AP - Russian gays called on US Secretary of State Hillary Rodham Clinton to support their rights as she unveiled a statute of American poet and gay pride symbol Walt Whitman in Moscow on Wednesday. More...
Obama to give $US1.4 million Nobel cheque to charity
WASHINGTON, Oct 9 AFP - US President Barack Obama will give his $US1.42 million ($A1.57 million) reward for winning the Nobel Peace Prize to charity, a US official says. More...
YouTube views over one billion a day: co-founder
WASHINGTON, Oct 9 AFP - The number of video views a day on YouTube has surpassed one billion, the co-founder of the wildly popular video-sharing site said on the third anniversary of its acquisition by Google. More...
NASA bombs moon's surface in search of water
WASHINGTON, Oct 9 AFP - NASA has blasted the surface of the moon with two spacecraft in a dramatic bid to find water on the lunar surface, an experiment that could be a stepping stone to a permanent moon base. More...
World leaders hail Obama's surprise Prize
PARIS, Oct 9 AFP - World leaders urged Barack Obama to seize on the award of the Nobel Peace Prize to intensify his diplomatic efforts to forge peace in the globe's trouble spots. More...
GM signs deal to sell Hummer brand
DETROIT, Oct 9 AP - Hummer, the off-road vehicle that was once a symbol of America's love for hulking trucks, is now in the hands of a Chinese heavy equipment maker. More...
CIS: New US missile plan raises 'questions': Russia
CHISINAU, Oct 9 AFP - The new missile plan from US President Barack Obama's administration raises questions and Moscow is waiting for Washington to explain its intentions, Russian Foreign Minister Sergei Lavrov said on Friday. More...
Republican party head says Obama Nobel win 'unfortunate'
The head of the US Republican Party says it's unfortunate President BARACK OBAMA has won the Nobel Peace Prize .. claiming he has celebrity status but no real achievements. More...
Obama's Kenyan family 'honoured' by Nobel Peace Prize
There's been mixed reaction around the world to US President BARACK OBAMA winning the Nobel Peace Prize More...
Obama embodies 'spirit of dialogue': UN chief
UNITED NATIONS, Oct 9 AFP - UN chief Ban Ki-moon has congratulated US President Barack Obama on winning the Nobel Peace Prize, saying he embodies "the new spirit of dialogue and engagement" in tackling world issues. More...
'Better than Bush' Obama deserves Nobel award: Iraqis
BAGHDAD, Oct 9 AFP - Iraqis have backed the decision to award Barack Obama the Nobel Peace Prize, crediting him with helping reduce violence in the country and saying he deserves it because he "is better than Bush". More...
Nobel Peace Prize for Obama "premature"
Sydney Peace Foundation Director Professor STUART REES says US President BARACK OBAMA has been given the Nobel Peace Prize prematurely. More...
Obama's Nobel win should spur climate commitment: UN
BANGKOK, Oct 9 AFP - US President Barack Obama's winning of the Nobel Peace prize should encourage him to commit to an international treaty on global warming, the UN climate chief says. More...
Tutu praises 'wonderful' choice of Obama for Nobel
Archbishop DESMOND TUTU has praised the decision to award US President BARACK OBAMA the Nobel Peace Prize. More...
Peace prizes for acting world leaders
This factbox corrects and updates one issued earlier More...
UK hacker's latest US extradition appeal fails
LONDON, Oct 9 AP - A British man accused of hacking into American military computers has failed in his latest bid to avoid extradition to the US, his lawyer say. More...
NASA to moon: Get ready, here we come
WASHINGTON, Oct 9 AP - Two NASA spacecraft are barrelling toward the moon at twice the speed of a bullet, about to crash into a lunar crater in a search for ice. More...
NASA probe hits moon south pole looking for water
WASHINGTON, Oct 9 AP - NASA has successfully bulldozed two spacecraft into the moon's south pole in a search for hidden ice, but without the promised live photos. More...
Obama Nobel marks US return to world's 'hearts': Sarkozy
PARIS, Oct 9 AFP - US President Barack Obama's Nobel Peace Prize marks "America's return to the hearts of the people of the world," French President Nicolas Sarkozy said on Friday. More...
Rudd apology inspired the world: will.i.am
MELBOURNE, Oct 8 AAP - Prime Minister Kevin Rudd's apology to the stolen generations inspired people around the world, Black Eyed Peas frontman will.i.am says. More...
Iodine follows folic acid as must-have addition to bread
SYDNEY, Oct 9 AAP - Bread sold in Australia must contain iodised rather than ordinary salt from Friday. More...
Iodine follows folic acid as must-have addition to bread
NASA's planning to slam a used up spacecraft into the moon's surface late tonight .. but it's all for the sake of scientific discovery. More...
New organic, biodynamic standards introduced
CANBERRA, Oct 9 AAP - Australians can be assured that organic means just that under a new national standard to be introduced on Friday. More...
ECB, BoE leave interest rates unchanged
FRANKFURT, Oct 8 AP - The European Central Bank (ECB) and the Bank of England (BoE) have left their key interest rates unchanged at record lows. More...
Two more rate rises likely this year as jobless rate falls
CANBERRA, Oct 8 AAP - An unexpected fall in the jobless rate to a four month low of 5.7 per cent has hardened expectations for another two interest rate rises before Christmas. More...
Huge quakes spark tsunami alert, panic in Pacific
PORT VILA, Oct 8 AFP - Huge earthquakes and a wide-ranging tsunami alert sent panicked Pacific islanders fleeing for the hills on Thursday fearing a repeat of deadly waves that smashed villages and killed 184 last week. More...
Survivors of deadly India floods return to wrecked homes
RAICHUR, India, Oct 8 AFP - Survivors of flash floods that killed more than 300 people in southern India began to return home Thursday to discover what was left of their houses and belongings. More...
Pacific islanders flee as huge quakes prompt tsunami alert
PORT VILA, Oct 8 AFP - A series of huge earthquakes triggered a tsunami alert over much of the South Pacific on Thursday, sending panicked residents fleeing just days after giant waves killed 184 in the region. More...
Tsunami warning renews panic in Samoa
APIA, Oct 7 AFP - Samoans relived the terror of last week's deadly tsunami on Wednesday, when three huge quakes in quick succession prompted a Pacific-wide tsunami warning. More...
Troop request on table as Obama weighs Afghan mission
SYDNEY, Oct 8 AAP - Australia is not a racist country but plenty of Australians exhibit racist behaviour. More...
Hey Hey skit sees Australia called backward and racist
SYDNEY, Oct 8 AAP - Hey Hey It's Saturday made a splash within a week of its return to Australian television - creating a wave of outrage around the world with a skit featuring men in blackface. More...
Libs to 'settle down' following disunity 'soap opera': Abbott
CANBERRA, Oct 8 AAP - Senior Liberal Tony Abbott says the party has to put the "soap opera" of the last few days behind it and prove it can "pick and stick" with one leader. More...
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