Australians are locked in the most prolonged recession on record following six consecutive quarterly declines in real GDP per capita. Australia’s prolonged per capita recession has arisen despite unprecedented government spending. Public demand hit a record-high 27.3% share of GDP in Q2 after growing by 1.5% over the quarter. Government spending is also projected to
We’ve seen an uproar since it’s become apparent that the US has given Ukraine permission to launch long-range strikes deep inside Russia. There are several reasons for this.
Firstly, Moscow’s unequivocal warnings that such a move would be seen as NATO’s direct entry into the war. And secondly the fallout from the dramatic change in the political situation in the US.
You don’t get to be PM without making a few “friends” along the way. Paul Kelly is a deep state quisling. The campaign to remove Rudd as “a ritual sacrifice before Trump has even said anything” is “part of Trump Appeasement Syndrome”. “This shows a contempt for Australian sovereignty and a craven weakness before Trump,”
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From atop Mount Olympus, Zeus peers in perplexity through fumes of fire, dust and vehicle exhaust, toxic chemicals, roiling tempests and raging floods, idly wondering what those darned mortals are up to now…
This is priceless. Mainland Australia’s last wind tower manufacturer will be forced to mothball its plant in a major embarrassment for the Albanese government after cheap imports using heavy-polluting Chinese steel have destroyed the local industry and cast a shadow over Labor’s domestic renewables policy. Keppel Prince has blasted the federal and Victorian governments after
Two years ago, I attacked then-immigration minister Andrew Giles for headlining a private Victorian Labor Party fundraising dinner organised by controversial Labor figure Jasvinder Sidhu. It was alleged that Indian migration agents paid $1,000 to attend the dinner to “buy” access to Giles and raised concerns with him about visa policies and other immigration-related issues.
We have repeatedly warned that Victoria’s state debt trajectory is concerning. Victoria has the highest per capita debt in the nation and the lowest credit rating. The world’s two largest credit rating agencies, S&P and Moody’s, recently warned that the state risks further rating downgrades if it does not bring its debt situation under control.
The Market Ear on macro market moves. The golden bounce Gold’s bounce on the trend line and the 100 day moving average was just perfect. Note we are trading above the short term trend line as of writing. The bounce has been aggressive, so we would need the shiny metal to catch some breath. $2700
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Last month, the Australian Bureau of Statistics (ABS) released the annual national accounts for 2023-24, which included extensive land value data. Land values underpinning the Australian housing market increased by 8.8% during 2023-24. In 2023-24, Australia’s land was valued at $9.2 trillion, with residential land accounting for 84% ($7.7 trillion). The chart below displays Australia’s
U.S. closes embassy in Kyiv amid warnings of "significant" Russian air attack
The U.S. Embassy in Kyiv shut its doors Wednesday as Ukraine braced amid warnings of retaliation from Moscow for Ukrainian strikes on Russian territory with American-made missiles. CBS News senior foreign correspondent Holly Williams has more.
Right where the sadistic RBA wants it. Flash Australia PMI Composite Output Index(1): 49.4 (Oct: 50.2). 10-month low. Flash Australia Services PMI Business Activity Index(2): 49.6 (Oct: 51.0). 10-month low. Flash Australia Manufacturing Output Index(3): 47.9 (Oct:44.7). 6-month high. Backlogs of work depleted again in November to suggest a lack of pressure on business capacity.