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Labor’s elderly parent visas will bankrupt Australia’s welfare state

May 13, 2019 - 00:20 -- Admin

By Leith van Onselen In the wake of Dr Bob Birrell’s startling report on Labor’s proposed uncapped visa for parents of existing migrants, it is worth considering what the long-term costs could be to Australian taxpayers and whether Labor’s policy is affordable. Before considering these issues, below is Labor’s policy as per its website: The

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Is Australia’s housing correction “nearing its end”?

May 13, 2019 - 00:15 -- Admin

By Leith van Onselen So says The SMH, which featured a bunch of commentators over the weekend claiming that Australia’s housing market will likely bottom in the second half of 2019: “We expect the housing market to stabilise by the second half of 2019,” [HSBC’s Paul] Bloxham said in a note to clients… “Auction clearance

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It’s time Labor let go of the Chinese Communist Party

May 13, 2019 - 00:15 -- Admin

I know it’s hard for them to let go with their history of Goff Whitlam’s leadership and all but it’s time the ALP gave up on the Chinese Communist Party (CCP). There are a few very simple reasons why. First, the US has done so. It started with the Obama Administration’s “pivot to Asia” which was

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Betting markets hose Scummo

May 13, 2019 - 00:11 -- Admin

Via Mark the Ballot: The past 12 days have seen a sustained decline for the Coalition’s mean win probability on betting markets, from a campaign high of 29.2 per cent to a record low of 17.2 per cent this morning. Date Mean Coalition Win Probability (%) 2019-04-11 19.30 2019-04-12 20.75 2019-04-13 21.65 2019-04-14 21.96 2019-04-15

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Aussie universities defend international student rorting

May 13, 2019 - 00:10 -- Admin

Last week’s Four Corners special on Australia’s international student trade featured Murdoch University, which was accused of badly lowering its standards in order to lift its international students numbers by 92% between 2017 and 2018, resulting in increased incidences of plagiarism, academic misconduct, and rising failure rates. Following the report’s airing, domestic students responded angrily,

Auction market remains soft

May 13, 2019 - 00:05 -- Admin

CoreLogic has released its preliminary auction report, which reported another soft auction clearance rate on very weak volumes. The preliminary national auction clearance rate was 58.1%, below last week’s preliminary clearance rate of 58.8% and slightly below the 58.2% final clearance rate recorded in the same weekend of last year: Auction volumes nationally were just

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Links 13 May 2019

May 13, 2019 - 00:01 -- Admin

Global Macro / Markets / Investing: Stocks Show It Hasn’t Paid to Be Long on Donald Trump – Bloomberg Restraining the power of the rich with a 10 percent surtax on top 0.1 percent incomes – EPI A Subtle Message from Powell to Markets – More Than News Dow futures fall 150 points after Trump

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Weekend Reading: 11-12 May 2019

May 11, 2019 - 00:01 -- Admin

Global Macro / Markets / Investing: It’s Time to Break Up Facebook – NY Times Buffet’s Berkshire Takes Tax Hit as Victim of ‘Ponzi-Type’ Solar Scheme – Bloomberg Stocks Slump Again As Trump Rekindles China Trade Worries – Stock Market News China detonated its tentative trade deal with the US by abruptly deleting swathes of

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Macro Afternoon

May 10, 2019 - 17:30 -- Admin

The tide may be changing with Chinese stocks rebounding to finish the week on a sweeter rather than sour note as optimism around the trade talks with the US climbs. The Australian dollar is inching its way back to the 70 cent level while Yen and other safe havens remain stable. The Shanghai Composite has

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Bill Evans: SoMP brings rate cut risk forward

May 10, 2019 - 14:31 -- Admin

Via Bill Evans at Westpac: The Reserve Bank’s May Statement on Monetary Policy (SMP) shows substantial reductions in the growth and inflation forecasts. GDP growth (to one decimal point) is now forecast at 2.6% for 2019 and 2.7% for 2020. That compares with 3.0% and 2.7% in the February Statement on Monetary Policy. The main

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