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Via The Australian: The Australian economy will need to produce 13 million extra jobs in the next half century just to accommodate population growth, according to Liberal senator Dean Smith, who has urged Malcolm Turnbull to put further curbs on immigration levels to protect the nation’s standard of living. With a Lowy Institute poll last
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From pathological liar, Josh Frydenberg today: When the Coalition came to government in 2013, it was bequeathed an energy mess. Retail prices had doubled, having increased each and every year, the renewable energy target had ballooned to 45,000 gigawatt hours and we were saddled with the destructive carbon tax. Since then we abolished the carbon
The post Why the states should trash the NEG appeared first on MacroBusiness.
Via the always good value Tim Duy at Fed Watch: Headlines blared the latest recession warning today, this time from David Rosenberg of Gluskin Sheff & Associates. The culprit will be the Fed: “Cycles die, and you know how they die?” Rosenberg told the Inside ETFs Canada conference in Montreal on Thursday. “Because the Fed puts
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BISOxford is out with its latest outlook: The slowdown in house prices is expected to continue until 2021, with Sydney emerging as the capital city with the worst prospects while Brisbane surprises as the city with the most upside, economic forecaster BIS Oxford Economics says. …It says Sydney’s median house price is forecast to bottom
The post BIS Oxford: House prices to fall until 2021 appeared first on MacroBusiness.
I must be mad, via the AFR: The Andrew Forrest-backed NSW gas import terminal proposed for Port Kembla will have its regulatory approval period fast-tracked by six to eight months, after the state government declared it a critical infrastructure project because of its importance for energy security. The decision is “a powerful demonstration of the
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Lordy, another backflip: One Nation leader Pauline Hanson has talked down any prospect of a deal with the government on company tax cuts this week, insisting she won’t support the bill unless multinational corporations are “reined in”, including their use of overseas call centres. “People are fed up with talking to people from call centres
The post Pauline backs away from Coalition tax cuts appeared first on MacroBusiness.
Via Banking Day: After months of holding out against an ‘out of cycle’ lift in variable rate mortgages, an industry-wide round of rate hikes looks imminent as funding costs push steadily higher. One of the four oligopoly banks in Australia must be set to brave the media storm in a week where the banking news
The post Brace for unilateral bank mortgage interest rate hikes appeared first on MacroBusiness.
By Chris Becker Another memorable week on risk markets as we count down to the end of the financial year, with the growing trade war turning into outright corrections on major stock markets. The USD reigns supreme against the majors as only the BOE looks set to pull the rate rise trigger – and not
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Via the AFR: AxiTrader chief market strategist Greg McKenna said he sees a continuation of the “economic and policy divergence theme…My base case is for the [Aussie to head into the [US71¢] region through time, on the back of desynchronisation of growth, a China slowdown, a domestic economy challenged by household caution, low wages growth,
The post Australian dollar bears rip into rebound appeared first on MacroBusiness.