The Dismal Science

The Australian Institute of Company Directors•www.aicd.com.au

Join the AICD’s Chief Economist Mark Thirlwell GAICD for this weekly deep dive into the latest economic news from Australia and around the world. From interest rates to trade wars and everything in between, we have you covered.

Follow on

Episodes

10 - BONUS EPISODE: Jeff Gramm talks shareholder activism

In this bonus episode of The Dismal Science, Ivan interviews Jeff Gramm , hedge fund manager and author of Dear Chairman: Boardroom Battles and the Rise of Shareholder Activism . The book, which was on the AICD's summer reading list , traces the history of shareholder activism through eight famous shareholder letters and touches on many themes relevant to directors, including the relationship between board and management, director independence, the role of proxy advisers and the perils of groupt...

Jul 03, 2017•53 min

9 - Taxes, not axes

It's our bumper Budget episode: axes are out, taxes are in. RIP 2014.

May 14, 2017•28 min

8 - Of budgets and birthdays

It’s Stephen’s birthday and it’s the budget! What a time to be the AICD Chief Economist. Discussed in this episode: [1:01] May RBA decision [1:14] Copy-and-paste March decision [1:40] April RBA decision [1:45] April RBA minutes [2:53] AICD Director Sentiment Index [3:35] 2H16 Director Sentiment Index [5:31] NAB March Business Survey [6:03] Consumer confidence still subdued [6:32] Treasurer’s good/bad debt speech [6:37] Badgerys Creek airport [6:41] Inland rail [6:52] Company tax cut [6:59] Steph...

May 05, 2017•26 min

7 - On target

This week Stephen and Ivan take credit for the Treasurer getting religion on debt and discuss inflation coming back within the Reserve Bank’s target range. Discussed in this episode: [0:42] Treasurer’s good/bad debt speech [1:00] Stephen on infrastructure debt [2:16] Morrison’s 2016 position [3:43] Net operating vs net cash balance [3:55] Jim Chalmers' Better Budgeting [5:23] Operational vs capital budgets [6:13] Stephen on 1Q17 CPI data [6:24] RBA’s inflation target [9:12] RBA early adopter of ...

Apr 30, 2017•26 min

6 - Talk infra to me

This week Stephen and Ivan talk about making infrastructure sexy again, as well as the latest labour market data and the ongoing jobs/housing dilemma of the RBA. Discussed in this episode: [0:59] February jobs disaster [1:11] Stephen on the March jobs numbers [1:48] Jobs report sceptics [2:35] 2014 ABS error [3:42] April RBA minutes [5:42] ANZ's job ads data [5:54] NAB business survey [7:03] Polling is getting harder [9:08] Blueprint for Growth [11:30] Snowy Mountains Scheme [12:14] PM’s Snowy r...

Apr 22, 2017•26 min

5 - The Blueprint

This week Stephen and Ivan talk about the regulator crackdown on interest-only loans and the AICD's Blueprint for Growth , which outlines our national reform agenda. Discussed in this episode: [0:46] APRA interest-only loan crackdown [0:57] RBA Governor's property warning [1:14] Bank executive comments [1:33] APRA’s original 2014 restrictions [3:44] RBA’s April interest rate decision [4:05] Council of Financial Regulators [4:41] Glenn Stevens on ‘crazy’ house prices [5:17] RBA turns downbeat [5:...

Apr 08, 2017•25 min

4 - Safe harbour

On this episode of The Dismal Science, Stephen and Ivan talk Brexit and welcome their first guest, AICD Senior Policy Adviser Lysarne Pelling, who came in to discuss proposed safe harbour laws that could save companies from painful insolvencies. Discussed in this episode: [0:59] UK triggers article 50 [1:15] Stephen's reaction the day of the Brexit vote [1:35] Maastricht Treaty [2:09] >50% of UK trade is with the EU [2:24] Gloomy forecasts for UK economy [3:58] Requirement EU 27 unanimity [4:11]...

Mar 31, 2017•22 min

3 - Is it a bubble?

In this special episode of The Dismal Science, Stephen and Ivan discuss the housing market. Is it a bubble? Should regulators be concerned? And what can we do to make housing more affordable? Discussed in this episode: [0:48] Avocado toast [0:57] Housing affordability in the budget [4:49] Australian household debt [6:29] APRA concerns (paragraph 5) [6:55] RBA's subtle shift on housing [9:28] NINJA loans [11:20] "Get a good job that pays good money." [15:19] Superannuation housing plan under cons...

Mar 24, 2017•22 min

2 - Jobs disaster

In the second episode of the AICD’s new weekly economics podcast, Stephen and Ivan discuss the ‘disaster’ that was the February jobs numbers, Western Australia’s economy post mining boom and the AICD’s number of the week.

Mar 17, 2017•19 min

1 - RBA's ctrl+c

In the first episode of the AICD’s new weekly economics podcast, Stephen and Ivan discuss the Reserve Bank’s copy-and-paste interest rate decision, society’s anxieties about the robot revolution and the AICD’s number of the week.

Mar 10, 2017•24 min

← Prev