It’s the last working day before
Christmas gentle readers and the start of the holiday period for many
Australians. However we are entering the Happy Season with some troubling
economic news.

The trade deficit has blown out and
inflation is on the rise. With good reason Aussies aren’t very hopeful for the
New Year. Henry, on the road to Sydney, reminds you all to watch the
catastrophic trade deficit as reported in The Age.

“A surge in imports has prompted
warnings that Australia could face a $1 billion
blow-out in its trade deficit. New figures from the Bureau of Statistics show a
13.5 per cent surge in merchandise imports, which hit $15.2 billion last month.”

Also the Roy Morgan Unemployment
released today reveals that employment has risen to 7.8%, up 0.7% since
September. The participation rate has risen slightly, but the increase in
unemployment is due chiefly to the loss of jobs, specifically full time jobs.
This is worrying dear readers, and a good enough reason to back the John
Howard’s removal of the minimum wage.

We had hoped to bring you more
Christmas cheer but Henry can’t help but feel a little concerned given the
latest economic news.

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