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Indian FTA ushers low-wage visa flood

November 25, 2022 - 10:30 -- Admin

One of the Morrison Government’s final treasonous acts before leaving office was the signing of the interim India-Australia Free Trade Agreement (FTA), which greatly increases access for Indian workers and students to stay in Australia long-term: A “side letter” accompanying the trade deal, which was signed over the weekend, also includes post-study work rights that

Labor’s super-housing plan is more ‘game of mates’

November 25, 2022 - 10:00 -- Admin

Last month’s federal budget announced a “new housing accord” that would aspire to “build one million new, well-located homes over five years from 2024”. This scheme immediately reminded of the New Zealand Ardern Government’s failed “Kiwibuild” scheme, which promised to build 100,000 ‘affordable’ homes, but after four years has only delivered 1,366. The main reason

Macro Morning

November 25, 2022 - 09:30 -- Admin

Wall Street was closed overnight, while the USD remained weak against the major currencies on firming expectations of a slower pace of Fed rate rises. Euro remained at a monthly high above the 1.04 level as the Australian dollar advanced but is still shy of the recent weekly high. The action on bond markets was

As Albo dithers, energy shock mounts

November 25, 2022 - 09:00 -- Admin

Here is the truth about not having enough gas to use as your decarbonisation transitional fuel: South Australian households and businesses will foot a $20 million bill to prevent AGL Energy from closing part of the state’s biggest power station next year, and instead run it for another three years to stave off electricity shortages.

Giles gaslights as he throws immigration floodgates wide open

November 25, 2022 - 00:10 -- Admin

In question time on Wednesday, Immigration Minister Andrew Giles boasted how the Albanese Government was remedying “a decade of cruelty and a decade of neglect” from the former Coalition Government and had processed 3.4 million visa applications since June. Giles also promised that the contrived “one million visa backlog” would be reduced to 600,000 by

Aussie house prices “close to the bottom”

November 25, 2022 - 00:05 -- Admin

CoreLogic’s daily dwelling values index, which measures home price changes across the five major capital city markets, declined by 0.23% in the week ended 24 November. This was the 29th consecutive weekly decline in dwelling values. The decline in dwelling values was again led by Brisbane (-0.54%), Sydney (-0.24%) and Melbourne (-0.14%), whereas Adelaide and

Links 25 November 2022

November 25, 2022 - 00:01 -- Admin

Global Macro / Markets / Investing: Jeff Bezos’s Charitable Giving Is Another Billionaire Scam – Jacobin Theranos Case — Elizabeth Holmes Sentenced to 135 Months in Prison for Fraud – Medium Credit Suisse forecasts $1.6bn loss as wealthy clients withdraw funds – FT Top economist Mohamed El-Erian says we’re not just headed for another recession,

Macro Afternoon

November 24, 2022 - 17:00 -- Admin

Asian stock markets are broadly positive in response to the continued bounceback on Wall Street overnight with traders trying to look through the US Thanksgiving and Black Friday shenanigans.  The USD remains weak against the currency majors from overnight where a softer than expected PMI print saw Euro and others surge against King Dollar, the

Kiwi home buyers “scared off” by soaring mortgage rates

November 24, 2022 - 14:00 -- Admin

Independent economist Tony Alexander believes Wednesday’s 0.75% official cash rate increase by the Reserve Bank of New Zealand (RBNZ) will further “scare off” home buyers and will “exert some extra downward pressure on house prices”. Alexander, therefore, believes the “turning point” for New Zealand’s housing market has been pushed back from Autumn to Winter 2023. ___________________________________________________________________________________________

Dan Andrews poised to win Vic election with loss of 8-10 seats

November 24, 2022 - 13:30 -- Admin

The latest polling from Roy Morgan Research suggests the Andrews Victorian Government will win a third term on Saturday, but with a reduced majority. The ALP on 55% (down 2% points since early November) has an election-winning lead over the L-NP Coalition on 45% (up 2% points), on a two-party preferred basis: The polling suggests