By Leith van Onselen The Australian Treasury has released briefing slamming the federal government’s ‘migrants to the bush’ policy and has called for a comprehensive population policy aimed at maximising living standards: There is a need for a population strategy that focuses migration on improving Australian living standards, while taking into account Australia’s capacity to
CoreLogic released its auction report yesterday, which reported another anaemic weekend of auctions. The preliminary national auction clearance rate was just 49.8% versus 50.7% last weekend (later revised down to 47.0%). The preliminary clearance rate was also way below the 64.7% recorded in the same weekend of last year: Auction volumes nationally were 2,119 –
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From Renegade Economist comes the fantastic Bruce Robertson (IEEFA) on how Australia destroyed its own energy markets: We discuss policies to reduce gas prices as per international best practice. In light of further consolidation in the industry, we discuss how gas sets the baseline price for energy production in the nation. How much could energy
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Good to see some straight shooting from Paul Kelly on the weekend: The decisions on Israel and Iran reveal a government operating on the edge of desperation and in danger of losing its way. The idea that it is in Australia’s interest to follow in Donald Trump’s footsteps is an illusion now contaminating much of the
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China completed its September data dump on the weekend with house prices that cooled a bit, up 0.9% on the month and 7.9% on the year: 62 of 70 cities had rising prices: The top tier remains cold but the lower 80% of the market is still on fire: Here’s the raw data: And the
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By Leith van Onselen Acadata has released its latest house price results for the UK, which shows that house price growth has fallen to its lowest level in 6.5 years: Most regions saw annual price rises although average month on month growth (apart from in August) continued to slow, with a 0.1% drop in September
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Global Macro / Markets / Investing: Notes on Global Convergence – NY Times Human capital formation during the first Industrial Revolution – VOX Major WTO Showdown Looks Harder to Avoid as U.S., China, EU Spar – Bloomberg Bitcoin’s White Paper Gave Us Liberty – Coin Desk The stock market is overdue for a one-day 5%
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Global Macro / Markets / Investing: Goldman and Morgan Stanley Want to Lend the Ultra-Rich More Money – Bloomberg Bezos Bucks the Bullies – WSJ The Worst Kind of Bear Market – A Wealth of Common Sense How Uber Quietly Raised $2 Billion – Bloomberg The Great Recession was awful. And we don’t have a
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Outside of China it’s been a poor finish to the week for Asian share markets, with the fallout from the US selloff and “bondcano” still being felt across the region. Chinese GDP data was slightly less than expected but did not translate into falls on the mainland or in Hong Kong, while a lower Yen
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Great work from Bill Evans at Westpac to round out a pretty bizarre week: We have recently read with interest a number of pieces from FOMC officials including Chairman Powell and Governor Brainard around the concept of neutral rates. Neutral rates are “the ideal” for central banks. At that neutral level inflation is stable around
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