Alan Kohler went all MMT yesterday: The RBA’s bond holdings represent only about 11 per cent of the government debt, well short of what the Fed or the ECB and Bank of Japan are doing, but it’s also true that the RBA has effectively financed all of the JobKeeper program with new money. Is that
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With last week’s release of population data for the December quarter, alongside the estimated number of dwellings, it is once again time to examine how Australia’s dwelling supply is tracking against population growth. The below charts track the following, which are based on the latest available quarterly data: Dwelling approvals to March 2020; Dwelling commencements
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Global Macro / Markets / Investing: Favoring finance over the economy has a bad result – Economo The ruins of the global economy look even more tragic for the IMF – Economo Study shows that you’re more likely to be successful if you’re born dumb and rich than poor and smart – The Atlantic Why
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It’s a flat start to the trading week as risk markets continue to absorb a lot of hesitation and concern from weekend stats showing the coronavirus isn’t slowing down as expected, with emerging markets and the failed US response creating a lot of “second wave” risk. Gold has lifted strongly with a decent breakout, while
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With Australia’s youth hardest hit by the COVID-19 lockdown: Progressive think tank, Per Capita, has urged the government to introduce a jobs guarantee: Australian labour force data for May shows that, for the first time since the Great Depression, almost two in three young workers do not have enough work to meet their needs… Well
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Via the excellent Damien Boey at Credit Suisse: Extraordinary slack in the labour market. The unemployment rate has risen to 7.1% over the past few months, its highest level since October 2001. But the rate would have been much higher, closer to 10%, if not for a very sharp decline in the labour force participation rate. Our preferred cyclical measure
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God knows why the Morrison Government is so keen to support the gas cartel. It’s not grateful. Via The Australian: “When prices are being touted that are lower than the cost of getting it out of the ground, they are just not based in the reality of today,” Shell Australia chairman Tony Nunan told The
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By Michael Bayliss, communications manager for Sustainable Population Australia and Co-founder of Population, Permaculture and Planning. THE OUTER GROWTH SUBURBS of Australian capital cities are among the most rapidly growing areas of the OECD. Many growth corridors struggle with a lack of access to infrastructure and essential services as suburban sprawl relentlessly marches outwards. While we can all
The federal government’s university reforms aim to encourage students to enrol in high-priority courses such as nursing, maths and engineering by reducing the amount students pay to study them through the HECS-HELP loan scheme. At the same time, course fees for oversupplied courses like humanities, commerce and law will be lifted to discourage study in
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The CEO of Australia’s largest listed residential property developer, Mark Steinert, has urged the Morrison Government to extend its $25,000 HomeBuilder subsidy beyond six months: “I think HomeBuilder is great, I can’t knock that”. “Inquiries have more than doubled from last year’s average… Of course, it’s bringing demand forward, but at a critical time”… “So
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