Albo’s great grovel of China has reached the level of nauseating. From The Australian: After his big day in the Great Hall with Xi Jinping, Anthony Albanese spent most of Wednesday leading a Gough Whitlam tribute mission. The Chinese government was delighted to assist. A huge section of the Badaling section of the Great Wall – about 80km northwest
This is what happens when you drive a car through the rear vision mirror. You overcook everything. In seasonally adjusted terms, in June 2025: unemployment rate increased to 4.3%. participation rate increased to 67.1%. employment increased to 14,619,300. employment to population ratio remained at 64.2%. underemployment rate increased to 6.0%. monthly hours worked decreased to
China says its economy is growing at 5.2%, but falling prices and sluggish demand tell a very different story. Some are now calling it a “golden depression”—recession hidden by stimulus. Join us this week as Nucleus Wealth’s Chief Investment Officer, Damien Klassen, and Chief Strategist, David Llewellyn-Smith, unpack what’s really happening in China and what
For ye will lose. The Market Ear. NVDA monster While people are debating whether to be long the European bull story, GS points out: “NVDA is now closing in on 90% of the entire SX5E in terms of mkt cap (4.1tr vs 4.8tr)”. Bloomberg/GS Still far from real exuberance Net exposure is in the 68th
A recent report from CBA economist Harry Ottley illustrated the unprecedented rise in non-market sector jobs over the past decade. This sector includes the health care and social assistance, education and training, and public administration and safety industries. It includes both public and private service providers that rely on government funding. The non-market sector has
Nobody wants to talk about how bad it is because, you know, it’s China. It’s a shame because the greatest crash in the history of property is underway and has another five years to run yet. Property keeps getting cheaper in real terms with mortgages included. Yet nobody wants to buy it. In fact, everybody
The latest batch of housing construction data from the Australian Bureau of Statistics (ABS) shows that the Albanese government’s target of building 1.2 million homes over five years is nowhere close to being met. First, in the year to May 2025, only 182,900 dwellings were approved for construction, 57,100 (24%) below the 240,000 required to
Earlier this year, Matt Bell from The Australian posted an article based on the Hays 2025 Skills Report claiming that Australia was facing a skills crisis, with businesses unable to find workers with the right skills. The latest recruitment data from Jobs & Skills Australia shows that employers are now finding it considerably easier to
DXYT softened last night as the great narcissist resumed attacking the Fed. AUD firmed. Lead boots are rolling over. Oil liked the chaos, oill did not. Metlas no bueno. Big mining bear fully intact. EM tried. Junk too. As yields cooled on a softish PPI. Stocks meh. The PPI helped offset yesterday’s bad CPI (in
A busy night of data, geopolitics, plus absurd politics as the Trump regime looks to fire Fed Chair Powell because he won’t lower rates (even though he only has one vote and there’s clear evidence of an inflationary push from the tariffs). This kept Wall Street on its toes but eventually Trump TACO’d out again