Australian Economy Australian interest rates

Godzilla El Nino warning

David Llewellyn-Smith

Friday 7 August 2026

The daily SOI has not deteriorated any further

However, credible sources are issuing a steady stream of intensifying warnings.

Meteorologist Ryan Maue is no shrinking violet.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.