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Articles from MacroBusiness

Gotti sheds crocodile tears for Millennials

April 8, 2019 - 12:30 -- Admin

By Leith van Onselen Baby boomer wolf, Robert Gottliebsen, has donned sheep’s clothing in his latest negative gearing attack, claiming that Labor’s policy will actually hurt millennials: We have just been through a residential property boom partly created by negative gearing, but the main force was loose bank credit often using inflated borrower incomes and

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ANZ job ads continue to roll over

April 8, 2019 - 12:04 -- Admin

The ANZ job ads series has recorded a further 1.7% decline in March to be down 6% year-on-year: Despite the poor result, ANZ’s head of Australian Economics, David Plank, has chosen to ignore the data and instead put lipstick on a pig: “Job ads are not showing any signs of reversing the weakness seen for

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CoreLogic: Sydney rents plummeting

April 8, 2019 - 11:45 -- Admin

From CoreLogic’s Quarterly Rental Report: In March 2019, rental rates nationally increased by 0.3% which matched the increase over the previous month. The first three months of the year have bucked the trend seen late last year whereby rents were falling. It is important to understand that rental markets are seasonal and the first quarter

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Hysterical Terry McCrann has Labor meltdown

April 8, 2019 - 11:30 -- Admin

By Leith van Onselen NewsCorp’s Terry McCrann has spent years penning ludicrous attacks on Labor’s negative gearing reforms. Over the weekend, he branched out even further claiming that a vote for Bill Shorten and Chris Bowen would be a vote for the “end of the world”. From The Australian: Bill Shorten and Chris Bowen have

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Roy Morgan: Q1 business confidence lowest since 2011

April 8, 2019 - 11:00 -- Admin

By Leith van Onselen Last week’s NAB Business Survey revealed crashing business confidence and conditions, with broad weakness across the sub-indices: Now Roy Morgan Research has released its Business Confidence Survey for March, which reveals that confidence over the March quarter was the lowest since 2011: Business Confidence in March 2019 is now a significant

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How corrupt regulators helped banks capture the Hayne RC

April 8, 2019 - 10:45 -- Admin

Via The Australian: O’Sullivan’s commission could do irreparable damage to the financial system. Everybody’s job, everybody’s mortgage, every loan to every business in the country was dependent on the strength and credibility of the financial system, they said, and O’Sullivan was about to lift the lid on a Pandora’s box. With the help of a

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Teacher’s Mutual calls for negative gearing for all

April 8, 2019 - 10:30 -- Admin

Via Banking Day: Drastic measures are called for by one of Australia’s largest mutual banks, in new research on the deep-rooted barriers to housing affordability, and most of all those workers in this mutual bank’s newest target market. Taking a fresh approach to the topic, Teachers Mutual Bank commissioned analysis centred on the consequences for

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International students drive university cheating boom

April 8, 2019 - 10:15 -- Admin

By Leith van Onselen For years a multitude of reports have emerged highlighting that the boom in international students is badly degrading Australia’s higher education system. Several years ago, both Fairfax and the ABC reported that international student colleges had taken cash kickbacks in return for helping overseas workers and students win Australian visas using fake

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There’s a boom in negative gearing stupidity

April 8, 2019 - 10:00 -- Admin

By Leith van Onselen One of my favourite things to do on a Sunday morning is to search the term “negative gearing” and then read the various special pleadings and scare campaigns. This weekend delivered the goods in spades, with a veritable smorgasbord of stupidity served up. First, we got Realestate.com.au claiming that first home

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Chinese yuan topples Australian dollar empire!

April 8, 2019 - 09:45 -- Admin

IMF COFER data was released last week and led to some amusing analysis, via FTAlphaville: It was only a matter of time until Holger Zschaepitz, Managing Economic Editor at the German daily Welt, found himself in hot water with Alphaville’s chart-crime panel. The man is the Leonardo da Vinci of the genre. Such is his genius, he’s able to conflate

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