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UBS: Buy Aussie banks with both hands

October 21, 2020 - 13:20 -- Admin

Via the excellent Jonathon Mott at UBS: What to expect with the 2H20E bank results starting Thursday 29th October The 2H20E reporting season (to September) will be unusual, with the banks operating in a false economy, given: almost half the labour force was on wage subsidies, unemployment benefits or employed by the government; mortgage &

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Weak financial confidence another question for whacky Westpac boom

October 21, 2020 - 13:00 -- Admin

Via Martin North: There was a slight recovery, but nothing which takes our index out of the “gloom” zone. The latest reading is 78.07 still well below the neutral setting. By our affluence segmentation, those mortgage free, and holding market investments improved as markets improved, while those with mortgages and those renting saw little change.

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It’s not a blokey budget. Unless all blokes are insane

October 21, 2020 - 12:40 -- Admin

Via Ross Gittins today, one of the few doing a good job on the Depressionberg Unstimulus: I’m sorry to have to agree, but Grattan Institute boss Danielle Wood is right to say this is a “blokey” budget. As are those who add it’s a blokey budget from a blokey government. …The first place a bias

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Retail sales retraced in September

October 21, 2020 - 12:20 -- Admin

From the ABS comes preliminary retail sales for September: Sales have fallen for two consecutive months: Here’s the breakdown: There were falls in turnover in Food retailing, Household goods retailing, and Other retailing, in September. Despite the month-on-month falls, these industries continue to trade at levels above September 2019. Every state and territory, except the

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Gotti: Submarine stuff-up as bad as Victoria’s COVID fail

October 21, 2020 - 12:20 -- Admin

According to Robert Gottliebsen (‘Gotti’), an external inquiry is desperately needed to determine the likely real cost of what Australia’s submarine project is going to be. Conflicting information has been given by members of the federal government about the cost of the French bid to build the submarines. And Gotti says there has been a

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COVID-19 infections remain well under control

October 21, 2020 - 12:06 -- Admin

Australia recorded 14 new COVID-19 infections overnight, only 5 of which were locally acquired: Victoria recorded only 3 new infections with the 7-day average falling to just 2.9: Melbourne’s 14-day average has fallen to just 6.2, almost at the 5 average target required to ease draconian lockdowns: NSW recorded only 2 new locally acquired cases,

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Damn right we should boycott China’s Winter Olympics

October 21, 2020 - 12:00 -- Admin

Via The Fake Left: Under a plan to get the population excited about the event, at least 2,000 schools have been instructed to include winter sports in their curriculum by the end of the year and a giant clock in Beijing counts down the time left before the Games begin. The official slogan is: “Joyful

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Broken visa system keeps delivering wrong skills

October 21, 2020 - 11:40 -- Admin

The total permanent Migration Program outcome for 2019–20 was 140,366 places, of which 95,843 places were delivered in the Skill stream. According to analysis of visa data by SBS News, accountants, registered nurses, cooks, chefs and restaurant workers were the main occupations to receive permanent residency visas last financial year: A quick glance at the

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Hotel quarantine scandal grows

October 21, 2020 - 11:20 -- Admin

Yesterday, the Hotel Quarantine Inquiry held an extraordinary meeting to discuss contradictory and omitted evidence that has come to light after witness testimony finished earlier this month. You can watch short videos of the extraordinary meeting here and here. Following the meeting, Daniel Andrews’ former right hand man, DPC secretary Chris Eccles, Victoria’s ex-top cop

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