Last week’s survey of 49 “leading” economists blamed a lack of supply for Australia’s housing crisis while denying that two decades of excessive demand via record immigration have played a material role. Note from the above graphic that only 6% of surveyed economists picked “restrain immigration” as a solution to Australia’s housing mess, while 14%
There are two major features of the gas cartel in Australia. First, it is unimaginably destructive economically. Second, it is unimaginably invisible in public discussion. Chris Joye gives us a nice glimpse of both: With inflation temporarily falling into the Reserve Bank of Australia’s target 2 to 3 per cent band, and the US Federal
DXY is at critical support and does not look strong: AUD is melting up: Positioning is very short for a new Fed cycle: North Asia too: All commods have entered reflation: Not miners owing to iron ore: Risk is bullishly led by junk credit: Yields were bid but did not break: Stocks poured higher: The
International Reads: Ghost jobs: What the rise in fake job listings says about the current job market – CNBC Trump’s Promise Of Cheap Gas Would Likely Crash The Economy – Huff Post Starbucks is so desperate for sales it’s pulling out the big guns—the pumpkin spice latte—earlier than ever before – Fortune Massachusetts raised taxes
A mixed session for Asian share markets as they react to the overnight retracement on Wall Street and other risk markets as traders await the latest speech by Fed Chair Powell at the Jackson Hole symposium/central banker extravagance. The USD returned to strength overnight but that seems to have dissipated with bond markets leading the
Back in June, 7News reported that a ‘graveyard’ of unsold Tesla cars had piled up in Port Melbourne: “All of a sudden we’ve got a huge backlog of Teslas that aren’t moving”, Peter Anderson from the Victorian Transport Association told 7News. “Teslas usually come into this country pre-sold. These ones aren’t, they’re sitting here”. The
Of yes: Commonwealth Bank has sliced variable interest rates for most new home loan customers, in a sign competition in the mortgage market is heating up again. The country’s largest lender said on Friday it had cut the variable mortgage rate it is offering new owner-occupier borrowers by 0.25 of a percentage point – to
Credit Agricole wraps it up. The Fed’s annual Jackson Hole Economic Symposium takes place later this week, with this year’s gathering entitled “Reassessing the Effectiveness and Transmission of Monetary Policy”. The focus will be on Chair Jerome Powell’s speech on the economic outlook, which he will deliver on Friday at 10:00EDT. With the July FOMC
Honestly, how confused are these kiddies? A few days after ABC presenter Josh Szeps abruptly departed his Sydney radio afternoons show in December 2023 – following disagreements with management over the direction of his program – the same station sacked mornings fill-in presenter Antoinette Lattouf after sharing a Human Rights Watch post on Instagram. On
I wrote on Thursday how young Australians aged 15-24 had suffered a larger increase in unemployment than the broader population: Young Australians’ unemployment rate has risen 2.7% from the 2022 low, compared to only a 0.6% rise across the rest of the labour market. Justin Fabo at Antipodean Macro has compiled data from the ABS