A sharp fall in confidence and rising fuel prices point to a potential downturn, but traditional policy responses risk making the situation worse.

After a gradual recovery from the substantial fall in real incomes and the rapid increases in interest rates during the three years following the end of the COVID-19 pandemic, the Australian economy now appears to be in the early stages of another, potentially significant downturn.

 

Saul Eslake

Another interest rate rise will tip Australia into a recession we don’t have to have

 

On the menu today: President Trump is adding his signature to the U.S. dollar. Also, a long, numbers-heavy look at the assertion going viral that the state government of California is “functionally bankrupt.” In what probably counts for optimism, I would argue the outlook for California’s budget in the coming years is bad — really bad — but not quite apocalyptic this-will-tear-apart-the-country bad. Read on.

When We Said, ‘Trump Should Sign the Bill,’ We Meant Something Different

Look at it this way; at least President Trump isn’t putting his face on American currency:

Passage for all commercial vessels through the Strait of Hormuz is now completely open, Iranian Foreign Minister Seyed Abbas Araghchi declared on Friday. He added that the waterway will remain open for the remainder of the ceasefire in Lebanon.

Araghchi’s announcement came shortly after a 10-day truce came into force between the Israel Defense Forces (IDF) and the Hezbollah militant group in Lebanon, which has been one of the major obstacles to a peace deal between Iran and the US.

Writing on X, the Iranian minister stated that “in line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire.”

Even by Donald Trump standards, Sunday night in the White House was quite something. Amid war in the Middle East and fears of a global economic implosion, the US president was having a meltdown of his own, furiously posting to his Truth Social account between 9.49pm and the ungodly hour of 4.10am.

 

THE ABC ARTICLE THAT FOLLOWS IS A ONE-SIDED VIEW OF THE UKRAINE CONFLICT. OF COURSE MOST WESTERN NEWS OUTLET, INCLUDING THE ABC HAVE TO APPEAR TO SUPPORT THE NAZI KIEV REGIME AGAINST THE RUSSIANS... THE RUSSIANS HAVE BEEN VERY CLEAR ON THEIR OBJECTIVE FROM THE BEGINNING, BUT THE NATO ORGANISATION AND ITS FASCIST COUNTRIES HAVE BEEN EXPEDIENT IN DISMISSING THE RUSSIAN CLAIMS...

YET NO MATTER HOW MUCH SUPPORT TO UKRAINE NATO/EU/USA/UK CAN PROVIDE, THE RUSSIANS WILL PREVAIL... AND THIS ISN'T JUST GUS's VIEW, BUT MANY EXPERTS — FORMER CIA ANALYSTS AND CLUEY MILITARY BRASS — THAT THE WESTERN MEDIA DO NOT WANT TO INTERVIEW BECAUSE BLAH BLAH BLAH... AH YES THE WESTERN MEDIA PREFER THE OPINION OF A LOSER, LIKE GENERAL BEN HODGES....

Hungary’s incoming prime minister, Peter Magyar, has pledged to suspend the news operations of the state broadcaster following two tense interviews he gave on Wednesday.

Magyar’s Tisza party secured a decisive victory in Sunday’s parliamentary election, effectively ensuring he will form the next government. He has indicated that action against MTVA will be among his first steps in office.

 

Incoming Hungarian PM pledges crackdown on critical media

Peter Magyar claims his party’s election win has “liberated” the state broadcaster from airing “propaganda”

 

Magyar has accused the broadcaster of bias against his movement and of disseminating “propaganda” in support of outgoing Prime Minister Viktor Orban, whose 16-year tenure ended with Tisza’s win.

The Liberal Party, battling an extreme version of itself — One Nation — has again fallen back to its default political policy: racism.

Angus Taylor, announcing a policy at primary odds with an immigrant nation, says a Liberal government under his leadership will adopt Trump ICE-style policies to weed and ‘boot out’ people who fail to adhere to ‘national values’ and who are responsible for the erosion of national culture including the Balkanisation of communities.

 

Paul Keating

Angus Taylor and the Liberal Party’s moral decline

 

The pro-Israel special interest group is the most powerful interest group on behalf of a foreign country in the United States. In fact, it may be the the most significant and pervasive special interest group in the country.

 

Israel Lobby Organizations & Individuals: The List

 

It consists of numerous institutions and individuals that work to influence Congress, the president, academia, the media, religious institutions, and American public opinion on behalf of Israel. It has been active in the U.S. for many decades. See detailed information on Israel Lobby donations to political candidates here.

Former “top gun” pilot, Dan Duggan, wanted by the US for having provided training to Chinese fighter pilots, was today told his extradition can go ahead. Robert Barwick with the story.

Six months after hearing former US Marine pilot Dan Duggan’s appeal against the Attorney General’s decision to approve his extradition to the United States, Justice Stelios denied his appeal today in the federal court in Canberra.

Justice Stelios also awarded costs against Duggan.

Dan Duggan was not present for the ruling, but on behalf of the family, his wife, Saffrine Duggan, said the family will continue to fight.

“We are very disappointed by this ruling, and we will consider our options carefully”, Mrs Duggan said. “But make no mistake – we will not give up.”

(DEFENCE SECURITY ASIA) — The loss of 24 MQ-9 Reaper drones worth approximately US$720 million (RM2.74 billion) in only six weeks marks the most severe American unmanned aircraft attrition event since large-scale drone warfare emerged.

The accelerated losses, including eight additional Reapers destroyed since April 1 according to CBS, indicate that the U.S.-Israel campaign against Iran is encountering an unexpectedly resilient and technologically adaptive defensive environment.

 

Iran Shoots Down 24 U.S. MQ-9 Reapers: US$720 Million Loss Exposes Collapse of America’s Drone Dominance

Iran’s integrated air-defence and electronic warfare network has destroyed 24 American MQ-9 Reaper drones in six weeks, inflicting US$720 million (RM2.74 billion) in losses and exposing growing vulnerabilities in U.S. surveillance operations.

 

Following the talks that took place in Islamabad between Iran and the United States, several experts and commentators were quick to declare the negotiations a failure. However, such assessments are rather unfounded and overlook the complexities of multi-layered diplomatic processes. In such situations, a lack of immediate agreements doesn’t necessarily mean failure.

 

What everyone got wrong about the Iran-US talks in Islamabad

Despite no immediate deal, the first round signaled something more important

BY Farhad Ibragimov

 

If you set aside your logic and rational thought and listen instead to what Donald Trump and his media echo chamber is saying about the war with Iran you are hearing this:

The US has wiped out Iran’s military capabilities.

The nuclear program is obliterated.

Iran’s economy is shattered and it is looking for a way to be reintegrated into the global economy.

The current US blockade of Iranian ports from outside the Strait of Hormuz is a smashing success and has bankrupted the Iranian economy.

 

Is Donald Trump Trying to Create a Nuclear Narrative as his Escape ramp from the War with Iran?

by Larry C. Johnson

 

 

Dave O'Brien is straightforward about how the Trump administration's policies are affecting farmers.

"They're choking us. We are getting choked out here," he said. "This is not going to end well."

O'Brien has been growing corn and soybeans for 50 years in northern Illinois. He has voted for Republicans and Democrats in the past, but he's frustrated with the Republican Party in the Trump era.

 

Trump delivers farmers another financial blow with Iran war

BY Danielle Kurtzleben

 

US Vice President JD Vance has landed in Budapest to bolster support for Hungarian Prime Minister Viktor Orban, whose Fidesz Party faces its most difficult election in more than 10 years.