Judging by the PMIs, the notion that China is growing at 5% is preposterous. Industry is still shrinking. New orders managed to flop into the positive locally, but are exports are dropping. Services are slightly better but barely moving. With new orders going backwards. Construction is doing a bit better, but is not convincing, either.
On Monday, former Realestate.com.au Director of Economic Research and now independent property analyst Cameron Kusher posted on X (Twitter) that in his view the family home should be included in the pension assets test and that rather than older demographics being provided with additional incentives to downsize, “it’s time for the sticks rather than carrots”.
In a recent article in ‘The Economist’ it was argued that the rise in unemployment and decreasing wage growth was the result of cuts to immigration in nations such as Canada, Britain and the United States. “Having won elections promising to cut migration, politicians across the rich world will now have to deal with the
This is the worst government of my lifetime, and that is saying something. AFR. The Albanese government will consider establishing an east coast gas reservation but has ruled out imposing domestic supply conditions on existing projects. Energy and Climate Change Minister Chris Bowen on Monday confirmed a government review of the east coast gas market
For a while there, wage theft disappeared or diminished. Thanks to the demand for labour with the immigration scam shut down during COVID, workers were too scarce to treat them badly. But with the return of the mass-immigration-led economic model, wage theft is back. Fair Work is investigating Merivale following fresh claims the hospitality giant
DXY is falling, while Chinese PMIs are improving, but iron ore is moribund. Steel demand and production are both falling at the expected 2-3% rate. Canberra has finally discovered the Pilbara killer, via the Office of the Chief Economist: And downgraded prices accordingly. The outlook for world steel production has softened due to increased trade
Spaztralia is not a country; it is a domain of stupidity. It is run by the Prime Spaz, a spaz so hollow, he can go full spaz. Spaztralia has no strategic plan to protect its freedom. On the contrary, the Prime Spaz is dedicated to a humiliating grovel to Beijing, the world’s most egregious autocracy,
DXY is breaking down. The unusually subdued AUD rally continues. Lead boots plodding along. Gold shaky, signalling DXY last leg down? Metals flamed out. The big bear rolls on. EM yawn. Junk leading the rally is bullish. Yields still easing. Stocks only go up. In my view, this is the last leg down for DXY,
Last night saw the end of the financial year and maybe the ending of the USD dominance in global finance as it had the worst yearly start since 1973, despite multiple undollar central banks cutting rates as safe havens like Swiss Franc, Yen and increasingly Euro and Yuan takeover from King Dollar. Speaking of made
With the end of the month, so too comes the release of the latest housing price data from Cotality (the artist formerly known as Corelogic) and PropTrack. Amidst recent rate cuts in February and May, and the expectation of significantly more to follow, both data providers noted that conditions were increasingly favourable for housing sentiment.