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Articles from MacroBusiness

Aussie credit growth screams deleveraging

May 29, 2020 - 15:55 -- Admin

Via the excellent Damien Boey at Credit Suisse: Credit growth surprises materially to the downside. Bank credit was unchanged in April, compared with the Consensus forecast for 0.6% monthly growth. Year-ended growth slowed to 3.6% from an upwardly revised 3.7%, versus expectations for a pick up to 4% . Compositionally, business and housing credit rose moderately, while personal credit fell. Arguably the

Carmageddon awaits unless work from home continues

May 29, 2020 - 15:00 -- Admin

With social distancing likely to be the norm over the next two years, the notion of sardine-packing residents into trains, buses and trams is obviously no longer viable if Australia is to contain outbreaks of COVID-19. Indeed, a new Roy Morgan survey suggests Australia faces a dilemma: “continue working from home or return to work

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Keen versus Gurner to distract Switzer investors

May 29, 2020 - 14:30 -- Admin

Bloody Switzer won’t leave poor Steven Keen alone: WATCH | SWITZER TV PROPERTY: “Dr Doom” Steve Keen and Tim Gurner join @PeterSwitzer on our latest property show.@ProfSteveKeen#Investing #Property #Economy #Money #Finance #HousePrices #RBA #COVID19 — Switzer (@Switzercomau) May 29, 2020 Roll out the housing bear to distract investors from this underperforming ETF:

Mortgage repayment cliff beckons

May 29, 2020 - 14:00 -- Admin

A Senate committee has been told that businesses and households have now deferred around $250 billion worth of loan repayments due to the coronavirus pandemic. However, Australian Prudential Regulation Authority (APRA) chairman Wayne Byres conceded that some customers will not be able to repay their loans when they are required to resume repayments: Australian Prudential

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ANU: Job and income losses halted, confidence rising

May 29, 2020 - 13:30 -- Admin

Average hours worked increased from 32.3 per week in April to 32.8 per week in May, according to a study by the Australian National University’s (ANU) Centre for Social Research and Methods. The increase followed the easing of COVID-19 restrictions and improved health results, with the study also finding that employment has levelled out at

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Shrinking COVID-19 cases mock Qld border closures

May 29, 2020 - 13:00 -- Admin

New data makes a mockery of the Queensland Government’s border closures. While there have now been 7,150 confirmed cases of the coronavirus in Australia, and the nation’s death toll stands at 103, the number of active cases has fallen to just 466, after falling by one-third over the past fortnight. This includes only 378 active

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Vale Hong Kong as CCP overlords take control

May 29, 2020 - 12:30 -- Admin

China’s National People’s Congress has approved a draft resolution that paves the way for anti-sedition laws to be enacted in Hong Kong. The laws will end Hong Kong’s autonomy by banning “acts and activities” considered to be a threat to China’s national security, and will permit “national security agencies” to operate in Hong Kong. The

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Twitter should fact check Kouk

May 29, 2020 - 12:15 -- Admin

All day, every day he demands more stimulus: A lesson from England for the RBA and government in managing economic policy in the deepest recession since the 1930s — Stephen Koukoulas (@TheKouk) May 29, 2020 While berating government debt: Government debt just hit a fresh record high: $658.3 billion. Up from a tiny $273

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Australia’s CCP apologists burn

May 29, 2020 - 12:00 -- Admin

“Australia” has had a near-death experience, at The Australian: Australia’s current ambassador to China gave the green light to Victoria to sign on to President Xi Jinping’s signature Belt and Road Initiative, which has been criticised by Scott Morrison. The Australian can reveal that Graham Fletcher, then a senior Foreign Affairs official, told the Victorian

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CBA: Huge fiscal stimulus props up household income

May 29, 2020 - 11:30 -- Admin

Gareth Aird, head of Australian economics at CBA, has published research on the extent to which household impacts have been supported by the federal government’s stimulus: Key Points Growth in government benefit payments has accelerated due to both the number of people receiving JobSeeker as well as the doubling in the fortnightly JobSeeker payment. Growth

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