Wry & Dry #23-25 Red the new black. Musk loses it. Falling governments.
In a blend of Keystone Cops and Yes, Minister, the government of we the Australian people is going to spend another $1 billion to employ more people to help cap the growth of the NDIS at 8% p.a. The extra spending will wipe out most of the $1.4 billion budgeted saving on the scheme over the next four years.
2024: The year in review and looking ahead
As we expected at the beginning of the year 2024, it has been a good year for investing in markets around the world. Global equities, especially in the US, were the standout performers, but other markets, including Gold and Technology, had strong years.
The Australian economy held up reasonably well despite the sources of growth being driven by the government rather than business, households or investment. Inflation was more contained, but inflation remained higher than some economists and Reserve Banks are comfortable with.
We are excited about how the market is set up for calendar 2025; for the first time since 2019, we can see large and straightforward sector dispersion. Some sectors are more expensive than ever and others are relatively cheap, this provides us with an opportunity to profit from the inevitable rebalance.