China’s National People’s Congress has approved a draft resolution that paves the way for anti-sedition laws to be enacted in Hong Kong. The laws will end Hong Kong’s autonomy by banning “acts and activities” considered to be a threat to China’s national security, and will permit “national security agencies” to operate in Hong Kong. The
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All day, every day he demands more stimulus: A lesson from England for the RBA and government in managing economic policy in the deepest recession since the 1930s https://t.co/vKqeqg8k9X — Stephen Koukoulas (@TheKouk) May 29, 2020 While berating government debt: Government debt just hit a fresh record high: $658.3 billion. Up from a tiny $273
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“Australia” has had a near-death experience, at The Australian: Australia’s current ambassador to China gave the green light to Victoria to sign on to President Xi Jinping’s signature Belt and Road Initiative, which has been criticised by Scott Morrison. The Australian can reveal that Graham Fletcher, then a senior Foreign Affairs official, told the Victorian
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Gareth Aird, head of Australian economics at CBA, has published research on the extent to which household impacts have been supported by the federal government’s stimulus: Key Points Growth in government benefit payments has accelerated due to both the number of people receiving JobSeeker as well as the doubling in the fortnightly JobSeeker payment. Growth
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At the AFR the bogus debate rolls on: The controversial proposals from the Andrew Liveris-led manufacturing taskforce would take government involvement in the gas supply sector to a new level in Australia and have set the scene for a renewed clash between manufacturers and gas producers over prices. …Engendering most debate in the draft report
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The Australian dollar is hovering at the highs this morning even as S&P futures fall: Bonds are firm: XJO has gapped lower at the open: Big Iron is up: Big Gas down with oil’s struggles: Big Gold is warm as DXY softens: The Big Bank bid has run into a big reversal. The whole value
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History doesn’t repeat but it sure does rhyme. In 2011, the Gillard Government agreed to pay Telstra $9 billion in instalments for its fixed line customers to migrate to the National Broadband Network (NBN). This decision was made, in part, to remedy the structural mess made by the Howard Government when it privatised Telstra in
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The education lobby has been caught out exaggerating the collapse in international students, which according to Department of Education data, is actually not that large: Only about 121,000, or 20 per cent, of some 606,000 primary student visa holders were stranded outside Australia on 17 May… The figures, which have not been released publicly, show
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Via Captial Economics: Growth for empty apartments and that’s all.
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By Chris Becker The risk edifice continues to push higher, helped along by a reduction in continuing jobless claims in the US even though all the other economic markers show the world’s biggest economy in a deepening recession. Wall Street stumbled at the finish due to some Trump remarks with US Treasury yields rising slightly,
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