I have always described the higher education industry as the “middleman” of Australia’s immigration ponzi, effectively ‘clipping the ticket’ and privatising the gains from high numbers of foreign students while socialising the costs on the broader economy. In a similar vein, Alan Kohler noted last week that “most of Australia’s migrant intake has been outsourced
Recall that failed Home Affairs Minister Clare O’Neil, who drove the rental crisis by overseeing the largest immigration spike in the nation’s history, was appointed Australia’s Housing Minister because she excels at spin. She [O’Neil] remains in cabinet and has now moved to minister for housing and homelessness — a portfolio that needed a stronger
Mike Cannon-Brookes, the do-gooder billionaire, who would send Aussie sunshine to Singapore, is becoming a laughing stock. Bloomberg: You can’t fault the scale of Cannon-Brookes’s ambitions. SunCable could generate about four times more electricity than the Northern Territory currently consumes. Excess power would flow 4,300 kilometers (2,700 miles) through the world’s longest and deepest undersea
Independent Tertiary Education Council Australia (ITECA) Media Release Australia’s independent Registered Training Organisations (RTOs) that deliver high-quality training to international students face an existential threat due to the Australian Government’s failure to provide clear and consistent guidance concerning the international education sector’s future. The Independent Tertiary Education Council Australia (ITECA) is warning that business closures…
Westpac with the note. Capex Spending Plans Today’s release also provided an update on expected capex spending over the 2024-25 FY. Estimate 3 for the 2024-25 FY came in at $170.7bn, around 8.2% higher than the same estimate last year. When considering how plans translate into actual capex spending, we need to adjust by measures
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Australia is already experiencing a prolonged per capita recession. As illustrated in the following chart, Australia’s per capita GDP has fallen for five consecutive quarters and six times in the last seven quarters: Next week, the Australian Bureau of Statistics (ABS) will release the Q2 national accounts, which will show that per capita GDP fell
The Market Ear on scary seasonality. The upcoming buyback fade In markets it is always about the “change”…and this bid is going to fade soon. There is $6.62B worth of daily purchasing power until the closed window (where it normally gets cut in half or even more). Blackout starts on the 13th, which is only
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Anybody with half a brain would recognise that lowering international student numbers (and migration generally) will alleviate the rental crisis. The correlation between the surge in international students and temporary migration is obvious. Temporary visa numbers in Australia have surged by around 400,000 higher than the pre-pandemic peak, as illustrated in the next chart from
SHFE and SGX fuutres are opening a new set of jaws: Given steel mills are already losing money, this only increases the likelihood of further shut-ins and reduced iron ore demand. Dalian is looking toppy and coking coal has rolled: The Angry Dragon is not happy: “The current rise in iron ore prices lacks fundamental
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There’s a great piece at Bloomberg today on how Japan is destroying Australia using our own gas against us: Every six hours, somewhere in the world, a shipment of liquefied natural gas controlled by a Japanese company leaves a port. The vessels — giant, floating thermoses that keep the fuel super-chilled — cross the globe,
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The USD saw a surge overnight due to a better than expected initial jobless print but also a revision in US 2nd quarter GDP but it didn’t stick completely against all the majors as it faded towards the end of the session. This kept Wall Street on edge while European markets took benefit from the
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The Australian Energy Market Operator has released new forecasts regarding electricity supply and demand over the next decade. AEMO says that a slower uptake of battery-electric vehicles is set to reduce pressure on the electricity grid. In December, AEMO forecast that seven million electric vehicles would be sold over the next ten years, but it