For the second time in the space of ten days, it appears that betting markets and pollsters have got it wrong. First, despite odds showing a 90% likelihood of “Remain” winning, the UK voted to “Leave” the European Union in its June 23 referendum.

Now, a mammoth federal election campaign has resulted in political stalemate in...

I have been analysing and forecasting economies since I worked in our Treasury in the late 1960s. Over that time, I have fortunately been able to predict most of the key economic developments and events in the global and in our domestic economy – stagflation, recessions, stock and property market crashes, the Asian crisis, the tech-wreck,...

“Australians voted for instability, and they’ve got it in spades.” Nikki Savva’s post-election remark on the ABC’s Insiders is the kind of statement political commentators frequently make.

It is, of course, rubbish. No Australian walked into a voting booth on Saturday resolved to...