The soaring price of petrol is now starting to pose a major threat to the Australian economy.

Corporate Australia is firmly behind the wheel of the Australian economy, while consumers have taken on the role of passengers in the current environment.

If the rise in petrol prices in the producer-price data is reflected in the CPI data, there is a risk the inflation rate could be 2.2 percent.

What we are starting to see are the motors running. Momentum is very important in any recovery and that is what we are starting to see in Japan at the moment.

He's a good inside runner. He's a good outside runner. He's going to pose a threat. We're just going to try to contain him. That's all you can really do. He's going to make plays. We know that. We've just got to try to minimize that as best we can.

In any insurgency there will be people who are irreconcilable and who pose a clear and present threat to the U.S. and our allies.