A warning for the Treasurer. A reminder at the weekend that Australia has a Coalition government. Appearing on the ABC's Insiders, the leader of the junior governing party, Warren Truss, ever so politely, warned Treasurer Joe Hockey that he would ignore the views of the National Party about foreign investment at the government's peril. At issue is the decision the Treasurer must make about the takeover of Graincorp by an American grain trader. For the Nationals that is a no-no.

The ever so slow recovery. Stock markets might be booming in the USA but the great recession lingers on when measured by unemployment. Job creation is far slower than in any other recession since World War II.