By Janine Perrett

So as any good economist would say - actually that is tautology - do you want the good news or the bad news?

The US congress and the White House have reached a tentative agreement on raising the debt ceiling.

Gotta be good news that the world's biggest economy avoids default.

Of course they always threaten it and go right up to the last minute but manage to avoid it each time, but the leadup is terribly debilitating with threats of a government shutdown and market mayhem.

Incoming speaker Paul Ryan managed to sign off on a measure which even raises spending slightly, but standby for more chaos with the hard right further down the track.

The bad news is that the US military is sending patrol ships to the South China Sea with a sabre rattling to China over sea navigation near the disputed islands. Let's hope they make their point without it escalating, which would mean Australia would have to do their bit to back up their ally (yes, that would be and still is the US - thankfully).

Good news: the ANZ's latest survey shows consumer confidence edges up higher despite those interest rate hikes by the banks last week.

Bad news: the banks will think they're safe to keep gouging customers and the RBA will just bail out the poor suffering mortgage holders.

More bad news with a story yesterday that Chinese buyers of Australian property are being offered zero deposit home loans back home. Good news for them but bad news for the local buyers they are squeezing out of the market.

The article even pondered whether this speculation will fuel our property bubble and be rather risky.

You reckon?

Good news of the day, a new chief scientist announced, and one with commercial experience, and one lauded by a Prime Minister genuinely excited by the announcement.

There is no bad news there.

But my favourite headline today, which covers both categories, is in the Guardian, a "US dog named trigger accidentally shoots owner during hunt".