The economy must suffer, and workers in particular, because the Reserve Bank of Australia will not, under any circumstances, mention immigration. And so, it carries on like a pork chop about the risk of rising wages; when it is not fighting 620k unemployed, it is fighting 50 million unemployed in India, or 350% unemployment. There
In June, Australian property values reached a record high, as illustrated by PropTrack below. The Westpac Consumer Sentiment Index, released this week, confirmed that Australians had turned hyper-bullish on property prices, expecting large increases in the coming months. As illustrated below by AMP chief economist Shane Oliver, consumer expectations for house price growth have hit a
I have noted the pivot at Crikey to Wokey over the past few years. Gone are hard-hitting critiques based upon a push for political and national interest transparency. In their place now is a conga line of whingers seeking to cancel anybody who upsets a snowflake. This is its choice, and reducing its coverage to
Australia is experiencing a generational housing shortage, exacerbated by historically high immigration-driven population growth and a sluggish housing supply. A meeting of the national cabinet in August 2023 agreed on a National Housing Accord, which aims to build 1.2 million new homes between July 1, 2024, and July 1, 2029. This 1.2 million target requires
Net overseas migration into New Zealand has collapsed to a 2½-year low and is tracking around half the historical average. The slump in immigration has worked wonders for housing affordability, with home prices and rents declining amid weaker demand. Real house prices in New Zealand have crashed back to pre-pandemic levels, while mortgage rates have
The Australia-United States Free Trade Agreement (AUSFTA), which took effect in 2005, was a bad deal for Australia that favoured the United States at our expense. The Crawford School of Public Policy at the Australian National University (ANU) analysed AUSFTA and discovered that a decade later, the agreement had diverted more trade than it created.
Honestly, if everybody is happy to take this, then they deserve it. AFR. Prime Minister Anthony Albanese has ruled out watering down foreign investment rules despite criticism from Beijing but reassured Chinese gas companies that supply contracts won’t be cancelled should the government establish an east coast gas reservation. Chinese fears over a potential threat
This is fun. The rationales being proffered for this are silly. Steel production has rebounded in China, driven by accelerating accumulation of building materials, robust manufacturing demand and sustained strength in steel exports, broker Galaxy Futures said. Key steel producing regions Shanxi and Tangshan have started implementing output restrictions, Galaxy said. Although it is the
Victorians are suffering an acute case of Stockholm Syndrome regarding the state Labor government. Victoria’s nine-month lockdown during the Covid-19 pandemic was one of the longest and most severe in the world. It was also brought to us by the state government, whose incompetence with hotel quarantine and harsh enforcement should have scared voters away.
DXY is up and away. AUD appears to have locked in its double top. There may be a pop on Chinese yawnulus, but I expect disappointment. Sacking Powell is the only hope now. Lead boots are plodding downhill. Metals meh. Same same. Big mining bear locked in. EM is running against DXY. Junk funk. Long