The Dismal Science

Stephen and Ivan talk about the 'terrible' August retail sales and the better than expected FY17 budget position.

In this catch-up episode recorded in September, Stephen and Ivan talk about June quarter GDP and the August jobs report. Then AICD policy adviser Matt McGirr comes in to explain the newly passed safe harbour reforms.

Stephen and Ivan talk inequality.

Stephen and Ivan discuss the recent spike in the Australian dollar, what it means for the RBA's growth forecasts and whether you should be buying foreign currency for that overseas holiday now.

Stephen and Ivan do a close reading of RBA governor Philip Lowe's latest speech on the labour market.

Stephen and Ivan take look at why the minutes from the RBA board's July meeting moved markets, as well as the June jobs numbers.

For this comeback episode, we catch up on the latest economic data, Ivan asks for a pay rise and we dive into the census.

In this bonus episode of The Dismal Science, Ivan interviews Jeff Gramm, hedge fund manager and author of Dear Chairman: Boardroom Battles and the Rise of Shareholder Activism.

The book, which was on the AICD's summer reading list, traces the history of shareholder activism through eight famous shareholder letters and touches on many themes relevant to directors, including the relationship between board and management, director independence, the role of proxy advisers and the perils of groupthink.

It's our bumper Budget episode: axes are out, taxes are in. RIP 2014.

[1:01] May RBA decision

[1:14] Copy-and-paste March decision

[1:40] April RBA decision

[1:45] April RBA minutes

[2:53] AICD Director Sentiment Index

[3:35] 2H16 Director Sentiment Index

[5:31] NAB March Business Survey

[6:03] Consumer confidence still subdued

[6:32] Treasurer's good/bad debt speech

[6:37] Badgerys Creek airport

[6:41] Inland rail

[6:52] Company tax cut

[6:59] Stephen on tax reform

[7:52] South Australia renewables debate

[8:35] Budget countdown

[8:58] Treasurer's flags housing package

[9:29] Negative gearing changes ruled out

[9:52] Retiree incentives to downsize

[10:06] Salary sacrificing a deposit

[10:21] Barbecue stoppers

[10:53] AICD's negative gearing position

[11:43] Health and education good debt?

[12:17] $50bn infra package

[12:20] 2014 $50bn promise

[12:48] Stephen on infrastructure debt

[13:18] Snowy hydro plan

[13:38] Sydney second airport history

[14:15] 2014 proposed university cuts

[14:26] Abbott's Gonski unity ticket

[14:33] Gonski double backflip

[14:36] Turnbull questions Gonski

[14:45] Gonski Company Director profile

[14:57] Gonski 2.0

[15:47] Higher education cuts

[16:07] Gonski 1.0

[16:23] Gonski and the forward estimates

[16:28] More or less funding for schools?

[16:51] 2.0 changes to status quo

[17:10] Greens support

[17:17] Private school cuts

[17:38] Gonski 2.0 Labor strategy

[18:29] 'Overfunded' cuts consensus

[19:10] i give a gonski campaign

[19:34] Gonski and Turnbull schoolmates

[21:14] Labor's Mediscare campaign

[21:31] PBS generics push

[22:21] Medicare rebate freeze to be lifted?

[22:48] Fairfax strike

[23:33] Government bonds on issue

[24:02] OECD government debt-to-gdb

[24:45] Net operating vs net cash balance

[25:07] Register for Stephen's budget webinar

Tweet at us @aicdirectors or message us on Facebook with feedback on the show or suggestions for upcoming topics.