Friday notes - mainly economics

A very short round-up this evening without links of things that I have noticed. I will follow up with links later.

New  Zealand giant Fonterra plans to cut the amount of product offered to customers as a continuing dry spell bites. In Australia, Dairy Australia said that Australia's diary exports in the year to November 2014 were up 1.1% in volume terms, down 10.9% in price terms.

Interesting continuing discussion on quantitative easing in comments on An economic meander - Greece, debt and economic adjustment in a QE world. Meantime, the currency wars continue, while the Chinese currency has jumped in front the Australian and Canadian dollars to number five in the world's most used global payments currencies. That's a trend I spoke of quite some time ago. 

Is the global glut in oil production coming to an end? Probably not, but the early signs of easing production may be there. Meantime, global forecasts for oil prices continue to be slashed. Actually, that's not a bad sign given forecasting track records. 

Queensland elections tomorrow. In a footnote on yesterday's posts I said: Based solely on the pattern of polls, my best guess remains that the LNP will be returned with a small majority, with the Premier losing his seat. Its all very volatile, but interesting for election tragics.

Finally, food, food, glorious food. That's where my historical mind continues to be for the present.