It’s Thursday the 10th of April. Global tariffs are now officially in place, Donald Trump has mocked world leaders, and the sharemarket has been hammered again. An island is coming up for sale off the Queensland coast, and the world's most senior banker is sick of poor meeting etiquette.
Global tariffs imposed by the US are now in place, including an extra 50pc tariff on China, and Donald Trump is unapologetic. In a 90 minute speech yesterday he mocked critics as well as other countries, saying: "I’m telling you, these countries are calling us up, kissing my ass. They are. They’re dying to make a deal." The local sharemarket lost almost another two per cent in response to the tariffs.
On the campaign trail, Peter Dutton is pushing law and order issues. He has promised to toughen bail laws and deport non-citizens guilty of crimes. Anthony Albanese was in inner Sydney at Paddy's Markets, saying that he believes Australia will avoid a tariff-inspired recession.
There’s an island coming up for sale off the coast of Queensland, as part of the state government’s efforts to rehabilitate some of the region's abandoned islands. Double Island, off Palm Cove, was bought for $5.68m in 2013 by a Chinese billionaire but has been left vacant and dilapidated.
The world’s most senior banker, JP Morgan's CEO Jamie Dimon, has had enough of people in meetings checking their phones and wants to ban the practice in his organisation. He's labelled the acts as disrespectful. He also took aim at corporate lingo saying people should "talk like you speak".
Normally friendly sea lions in southern California have started attacking surfers and beachgoers, affected by a neurological disorder brought on by algae. Scientists say the animals are suffering from domoic acid toxicosis- a neurological condition caused by the algae. Sea lions are not naturally aggressive creatures and attacks on human are rare. But there’s been several in recent months.
Fear-o-meter
There are social media videos aplenty showing relatively young people checking their tumbling superannuation balances. In one, a 29-year-old is noticeably distressed about how much his account balance has diminished. But that individual can’t actually access his account for at least another 31 years, and more likely 36 years.
So how much should people worry about their super balance? Not much, unless you’re planning to retire in the next five years. And even then, you don’t have to take all the money out at once.
Taking the 29-year-old as a base. Over the next 31 years his annual return is likely to be just under eight per cent per annum, compound. That’s based on the performance of the median growth fund in Australia over the last 31 years. As the funds tell us, the past isn’t an indicator of the future, but it’s a pretty good guess.
In the last 31 years, according to superguide.com.au, there have been five years of negative returns and 27 years of positive returns. It includes a 9.9pc rise in 2023 and 11.4pc in 2024. Super is a long term investment. It is one of the few investments people shouldn’t worry about amid the current turmoil.
Who's talking today?
On why she disagrees vehemently with Donald Trump's rejection of DEI (Diversity, Equity & Inclusion) measures - but thinks it might just trigger a necessary conversation:
"We're trying to achieve gender diversity or cultural diversity, but we're still looking for people who think the same way. We're still looking for people who have ticked the same experience box, the same background, the same university. So if we broaden actually what we're expecting for any role, we will attract a broader spectrum of the population.
But that's not enough. That's only just starting. It's only bringing diversity to the table.
For diversity to stick, for diversity to flourish, for everyone to be really considered as equal in their pursuit to top leadership positions, we need to transform the way that we make decisions. We need to really explain what inclusion means. Inclusion doesn't mean consensus. Inclusion doesn't mean being nice."
Home values in Australia have surged over the last five years, with the post-COVID boom adding approximately $230,000 to the median dwelling value. That's one of the market's largest-ever jumps in dollar terms - but as a percentage, it's nowhere near the biggest housing boom in Australian history.
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