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Via UBS: Q3 domestic demand also hit a 2-year low 0.3% q/q, & down to 2.7% y/y – as Victoria slowed (0.2% q/q, 4.3% y/y), & WA eased (0.4%, -0.6%), but NSW bounced (1.1%, 3.7%). Domestic demand was driven by booming public demand (1.5%, 4.5%); adding 0.4%pts to GDP (& a large 1.0%pts y/y) –

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South Australia's energy transition is shrouded in myths created by those who want to slow or stop the switch to renewables. It is actually a model of success. Here's why.

By David Ayliffe  Children at a remote Victorian Christian School have been forbidden to watch, play or discuss football by the conservative Principal of the school, Phil Upright, who calls the game “Satanic”. Pastor Phil Upright, who leads the “Discriminate a right and a Privilege Independent Thinking Political Party” also heads Liberty Christian Church and is…

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By Leith van Onselen The 2018 Household Income and Labour Dynamics in Australia (HILDA) survey revealed that ‘housing stress’ – defined as when “housing costs are more than 30% of income and household income places the household in the bottom 40% of the income distribution” – is particularly high for renters: Whereas the proportion of

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From Westpac’s Bill Evans: This result will come as a disappointment to the Reserve Bank. Note that the forecast for GDP growth in 2018 for which appeared in the November Statement on Monetary Policy was 3.5%. With the first three quarters of the year totalling 2.2% the December quarter would have to print growth of

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Because I agree with Janet on nothing but this: …last week former Treasury boss, now National Australia Bank chairman, Ken Henry delivered a pretentious and prolix lecture, pointing the finger for corporate misdeeds at “the state of capitalism”. “The capitalist model is that businesses have no responsibility other than to maximise profits to shareholders,” he

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Can Australia’s gas catastrophe get any more stupid? Yes, it can: Australia’s fifth LNG import terminal has been proposed by a South Korean developer, striking a preliminary deal with the Port of Newcastle to boost gas supplies to the nation’s east coast as part of a $US430 million ($586m) facility. EPIK, described as a Seoul-based LNG

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Weeoo, weeoo, weeoo. The Pascometer has sifted through the bearish data until he’s finally found  tidbit with which to call the house price bottom: …here’s a little indicator worm that’s turned: The Sydney/Brisbane house price ratio has returned to normal. As previously reported, Sydney house prices tend to be 1.7 times more expensive than Brisbane

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Bravo, via Domain: South Australian Centre Alliance senator Rex Patrick is seeking to overturn a decades-long convention in Australia that ministers, assistant ministers and parliamentary secretaries – unlike their staff and public servants – are exempt from security checks before accessing classified government material. …Importantly, the security services would not be able to veto ministerial

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A few days ago, LVO penned a piece exposing the extraordinary rent-seeking economy of NSW: One of the biggest structural changes to have occurred to the Australian economy over the past 35-years has been the explosive growth in the FIRE economy – Finance, Insurance and Rental, Hiring & Real Estate Services – which has roughly doubled

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Herbert Smith Freehills has advised MUFG Bank, Ltd., (MUFG) on the A$140 million ‘Samurai’ refinancing of the Waterloo Wind Farm.

By Leith van Onselen Former Fair Work Ombudsman (FWO), Natalie James, has admitted that wages theft is rife across the Australian economy, especially in migrant-heavy sectors. From The AFR: …by the end of her five-year term as the Fair Work Ombudsman she had come to the conclusion underpayments were not only part of a culture in

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By Leith van Onselen With new NSW Labor leader, Michael Daley, vowing to make the issue of over-development a key plank of his election platform, Premier Gladys Berejiklian has ordered an urgent review into development in Ryde, where more than 13,000 extra people have been sardine packed in recent years. From The Daily Telegraph: The under-pressure Premier

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