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Unless something changes, wage rises are history

August 16, 2018 - 00:20 -- Admin

It’s like trying draw blood from a stone. Some charts from Westpac on the wage price index: Anyone looking at that little lot and seeing ANY chance of reaching RBA and Treasury goals needs to take the red pill. We’ve chronicled many times why it’s happening: terms of trade falls which although paused are still

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Real private sector wages stuck in the donut zone

August 16, 2018 - 00:15 -- Admin

By Leith van Onselen Yesterday’s wages price index released by the ABS revealed a softening of annual wages growth to just 2.1%: When adjusted for underlying inflation, real wages increased by a measly 0.2% in the year to June: However, there is a big disconnect between the private and public sectors. The private sector –

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Population ponzi to drive up household water bills

August 16, 2018 - 00:15 -- Admin

By Leith van Onselen Around this time last year, it was reported that Melbourne’s water storages could dry-up as the combination of climate change meets rapid immigration-fuelled population growth: Melbourne could begin to experience chronic water shortages within about a decade, even if the desalination plant is cranked up to its full capacity, as climate

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Kouk: Get set for early Budget

August 16, 2018 - 00:15 -- Admin

Via Kouk: Get ready for a February budget An early budget is the likely scenario given the Federal election is set to be held in May 2019. The budget, which in modern times is usually delivered by the government on the second Tuesday in May, cannot be handed down during the election campaign which will

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Spruikers tire of sagging Brisbane property

August 16, 2018 - 00:10 -- Admin

By Leith van Onselen It seems Australia’s housing spruikers are growing tired of waiting for Brisbane’s housing boom. From Mortgage Parasite Magazine Australia: Brisbane is no longer the leading property investment choice as it used to be, according to property market research firm Propertyology. The latest market data shows that despite being the top choice

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Aussie rents are being crushed

August 16, 2018 - 00:10 -- Admin

By Leith van Onselen The June quarter rental data from the ABS painted a sorry picture for Australia’s army of negatively geared landlords (but an improving picture for renters). According to the ABS, rents nationally registered zero growth in the June quarter and grew by just 0.6% over the year: And when adjusted for inflation,

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How much longer can China keep building ghost cities?

August 16, 2018 - 00:04 -- Admin

With the news yesterday confirming that Chinese property markets are again off to the races: Let’s ask the trillion dollar question: how long can they keep building ghosts cities? The answer comes in two parts. The first might upset a few readers because the answer is “forever”. Or, at least as long as they want

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Links 16 August 2018

August 16, 2018 - 00:01 -- Admin

Global Macro / Markets / Investing: Tesla Directors Do Damage Control After Elon Musk Tweets – NY Times Goldman Sachs Had No Mandate When Musk Tweeted – Bloomberg ‘Mega-Round’ Investors Shower Start-Ups With Millions – NY Times Cryptocurrency Market Plumbs New Depths in 2018 – WSJ The biggest policy mistake of the last decade –

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Macro Afternoon

August 15, 2018 - 17:12 -- Admin

The reversal in mood has been short lived with a big selloff in Chinese stocks leading the region down, with only Australian shares not joining in. Although the Turkish Lira is firming, with a positive Wall Street lead overnight and European stocks looking positive going into the open, the negative mood couldn’t be forestalled here

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Ministers for sale

August 15, 2018 - 15:30 -- Admin

By Leith van Onselen If you want a textbook example of everything that is wrong with Australian politics, look no further than this, via The AFR: Big four accounting and consulting firm PwC Australia is hosting a full-day, $12,500 a head, fundraising event for the Liberal Party at its Sydney offices where guests can “nominate

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