If the shock of the Brexit bombshell – which led to the downfall of a prime minister – wasn't enough, the extraordinary US election campaign has left jaws permanently dropped across the planet. And in between Australia had its own marathon poll, where Malcolm Turnbull returned a diminished leader with a diminished majority, Labor returned replenished and Pauline Hanson re-emerged with a vengeance.

This will also become known as the year of the expose with Unaoil, the Panama Papers and the Comminsure scandal. And political reality caught up with Mike Baird, who junked his moral stand on banning greyhound racing. There was no bigger sporting event than the Rio Games, but not far behind was the "Hollywood could not have scripted it better" victory by the Cronulla Sharks to win their maiden NRL title.

Here, the Herald's senior writers share their take on the year that was for the SMH live subscriber event.

Peter Hartcher: The most uncertain times since the fall of the Berlin Wall

This is the year that proved that anything is possible. Worldwide, Australia included, the forces of populist nationalism have stirred, angrily.

Many of the great questions of world order that seemed settled have now been thrown open. There is more uncertainty about politics and the world than at any time since the fall of the Berlin Wall a generation ago.

A year ago it was unthinkable that Malcolm Turnbull could lose 14 seats and cling to power by a single seat, and that One Nation and the National Party could thrive and prosper. It's now a reality.

A year ago it was unthinkable that Britain would leave the European Union. It's now reality.

A year ago it was unthinkable that Angela Merkel would have to admit she was wrong to throw open Germany's borders to Syrian refugees. It's now a reality.

A year ago it was unthinkable that a celebrity demagogue could arise in the US, defeat both great dynasties of American politics, the Bushes and Clintons, and take the White House. It's now a reality.

The man who said that the fall of the Berlin Wall marked the "End of History" as the world converged on free-market democracy, Francis Fukuyama, now says the world is entering "a new era of populist nationalism". As the liberal international order descends into confusion, China and Russia stand ready to take advantage.

Kate McClymont: The year the wheels of justice caught up with Eddie Obeid.

It has not been a good year for He Who Must Obeid.

The year started with the airing of the new TV sitcom Here Come the Habibs, but it could have just as easily be titled There Go the Obeids.

It must have been galling for former MP Eddie Obeid to see his dream home featuring in an Aussie remake of the The Beverley Hillbillies.

While the fictional Habibs had bought their waterfront Vaucluse mansion with a lottery win, Obeid's deposit for the real house – in Woolwich – was funded by a mysterious coal deal.

Eddie Obeid arriving at the ICAC hearing flanked by his lawyers in 2013. Photo: Michele Mossop

The house slipped out of Obeid's grasp several years back when the Herald revealed that new purchaser was one Eddie Obeid. The bank was not pleased, especially since Obeid appeared to have picked up a bargain from the bankrupt owner, whom he knew. The deal was called off and the house put back on the market.

But it was back looking splendid for the hit TV series.

In June, a jury found Obeid guilty of misconduct in public office over Circular Quay Cafe leases but unfortunately he suffered a mild stroke just days before his August sentencing hearing.

In September, Obeid lost his lawsuit against ICAC and a string of ICAC executives and investigators. He is facing a costs order of millions of dollars, but he has appealed.

In October a "constellation of medical conditions" meant that his sentencing hearing over the misconduct in public office was delayed yet again.

Obeid's sentencing hearing has been rescheduled for 1 December. Four days later his committal hearing over the Mt Penny mine deal will kick off.

No doubt 2017 can't come soon enough.

Sean Nicholls: A dog of a year for Premier Mike Baird

What should have been 12 months of building towards his government's re-election in early 2019 has turned into a dog of a year for Premier Mike Baird.

In fact, Mr Baird's 2016 is defined by two types of dogs: the living, breathing, racing greyhound kind; and the metaphorical NSW corruption watchdog.

In July, Mr Baird tried to put the former out of business, but got bitten instead.

The bungle was in part blamed for the result at the November Orange byelection, where the Shooters party put the Nationals out of their misery, prompting deputy premier Troy Grant to fall on his sword.

Premier Mike Baird was forced to reverse a ban on greyhound racing in NSW. Photo: Wolter Peeters

This month, Mr Baird was accused of defanging the corruption watchdog when he unveiled legislation that forced Independent Commission Against Corruption chief Megan Latham to reapply for her job.

She resigned, becoming the first ICAC commissioner in the agency's 28-year history to be forced out of the job.

Mr Baird was left denying accusations it was all about political payback for Latham's oversight of corruption inquiries that ended the political careers of ten of his Liberal colleagues, including former premier Barry O'Farrell.

As the Christmas break approaches, Mr Baird is looking a shadow of his former self.

A politician once so popular he was being touted as prime minister material, questions are now being asked about whether he might pull the pin before the next state election rolls around.

Ross Gittins: This economic life

A lot of people thought Britain would be instantly plunged into recession after Brexit, but it hasn't happened. The main thing that has happened is a big fall in the pound – which is probably helping to keep the economy growing, even if it's also pushing up inflation a bit.

That's not to say the Brits won't pay a price for leaving the EU. They will. It's an act of economic self-harm which will make it harder for them to sell their exports. But it's a price they'll pay though a slower improvement in their standard of living over coming years.

By now it's clear Brexit will be a big deal for Britain and a reasonable deal for the EU, but the effect on the rest of us won't be big enough to notice. I don't doubt that the reasons a narrow majority voted for Brexit are similar to the reasons people in the Rust Belt voted for Trump and people voted for the resurrected One Nation.

Growing numbers of Australians are jumping out of home ownership and giving renting another whirl. Illustration: Michael Mucci

They don't like the way the world has changed, they're starting to feel like outsiders in their own country and, rightly or wrongly, they blame a lot of their discomfort on immigrants, particularly those who aren't white.

In Australia, not a lot's happened in the economy this year. We're still adjusting to life after the resources boom. The economy's kept chugging along at about its normal speed, not too fast, not too slow. Unemployment is pretty steady, but it would be nice to see it lower. Inflation is very low but the flipside of that is low wage rises.

Meanwhile, the Turnbull government is making no progress in getting the budget back to surplus. That's partly because it's not trying very hard, partly because it has trouble getting co-operation from the Senate, and partly because tax collections haven recovered the way Treasury expected.

Some people worry a lot about this, but I only worry a bit. The budget isn't the economy. And though there must be a limit to the government borrowing to fund recurrent spending – the money needed to keep the government doing what it does for another year – borrowing to build worthwhile infrastructure that we'll be leaving to our children is no cause for concern.

Home ownership has become hard for young people to afford, and they're right to complain about it. The rate of home ownership has been falling and will go on falling. The government should be acting to curb negative gearing and if it did this would help, especially over time, but it wouldn't make a big difference.

High house prices are partly an inter-generational thing. That's why parents have to help their kids afford the high prices. It's a form of recycling. But here's the trick: the fact that so many parents do help their kids afford the present high prices is one of main factors keeping them high.

Andrew Meares: How a sleeping Senator woke up the Senate and ended censorship

Of all the photos I have taken in 2016, an image of a sleeping senator was the most significant.

Unlike the House of Representatives, where photographers can freely report proceedings, the Senate only allowed photos of the senator "with the call" – that is statue-like, on their feet and speaking. This form of parliamentary privilege meant no voting or seated senators could be seen on the public record.

Public accountability requires public scrutiny. The good, the bad and the ugly. The chilling effect of censorship meant the Senate went under-reported.

Senator Derryn Hinch is nudged by Kevin Hogan during the opening of the 45th Parliament at Parliament House in August. Photo: Andrew Meares

In meeting with media executives last week, President-elect Donald Trump complained about the un-flattering photos they chose to publish. He will soon be sworn in to "preserve, protect and defend the constitution" but perhaps he intends to use his powers to preserve his image, protect his double chin and defend how he is photographed.

Our Senate held a similar view of press regulation giving senators the power to control how they were photographed and therefore perceived by those who elect them. The Sydney Morning Herald has been fighting that censorship for 25 years and was on the verge of a High Court challenge.

During the ceremonial opening of Parliament, Senator Derryn Hinch nodded off – the one day of the parliamentary term senators can be seen without the call. He used his embarrassment to campaign to allow such a photo to be taken at any time.

A wide awake Senator Hinch successfully repealed Procedural Order With Continuing Effect No.26 in November, and I will now have to keep a close eye on the Senate – and on Donald Trump's double chin.