Via Goldman: …as Goldman points out, amid the lingering trade tensions and continued depreciation of CNY in the first half of June, the bank’s preferred gauge of FX flows showed a dramatic jump in June outflows to the tune of $20 billion compared to an inflow of $13 billion in May, while the exporters’ trade repatriation ratio
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In the September 2017 general election, the New Zealand Labour Party launched a plan to reduce immigration by 20,000 to 30,000 in a bid to relieve chronic housing and infrastructure pressures (especially around Auckland): …in recent years our population has been growing rapidly as record numbers of migrants arrive here. This has happened without the
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Above is an interesting graphical summary of Australia’s housing market by ABC News. Here’s the excerpt accompanying the video presentation: Australia has experienced one of the world’s biggest home price booms, driven by near world record levels of household debt. This house of cards looked to be teetering, with double-digit price falls in Australia’s two
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Farewell Chinese soft power. Hello Angry China, via The Guardian: Australian writer Yang Hengjun is expected to be formally charged with endangering national security, according to his lawyer. Yang, a Chinese public intellectual who has long advocated for democratic reforms in China, has been detained for the last six months in an unknown location in China.
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When it comes to cruelty against the unemployed, it’s hard to top the Morrison Government. Listen to lousy ScoMo today on a Newstart rise: “The government has no plans to do that,” he said. “We will continue to increase Newstart every six months as has always been the practice. “More importantly, for those who are
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From CoreLogic’s Cameron Kusher: CoreLogic estimates of monthly settled sales data points to a levelling in housing market activity, following several years of falling home sales according to research by analyst Cameron Kusher. Despite signs that market activity is leveling out, annual transaction numbers remain lower year on year across every capital city region of
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The latest Roy Morgan Research (RMR) unemployment estimate for June fell 1.1% to 9.2%, but was up 0.5% year-on-year: Labour underutilisation also fell to 18.6%, down 0.3% year-on-year: Below are the key points from the release: In June 1.25 million Australians were unemployed (9.2% of the workforce) with an additional 1.28 million (9.4%) now under-employed.
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Contemporary Australian governance is all about diffused responsibility. Rule one in this new public disorder is to pretend to reform by instructing the demonstrably failed to do it right. It’s virtue signalling writ large that changes nothing while protecting your arse. To wit. Josh Recessionberg, who stupidly reappointed APRA chairman Wayne Byers before he got
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As noted yesterday, Australian imports have stalled over the past year or so as domestic demand crashed: Now the job losses are here, via the AFR: DP World has cut 200 jobs as a new wave of industrial action hit its terminals, sparking outrage from the maritime union. The stevedore announced on Thursday it would
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Via The Australian: If we want more affordable gas and cheaper, more predictable electricity generation then we need to increase the gas supply. This is also the view of the Australian Competition & Consumer Commission. If we want to receive billions of dollars in royalties and unleash resource-driven jobs and prosperity, we need to force
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