Ross Gittins argues that the Reserve Bank of Australia’s (RBA) “blunt” war on inflation has been borne primarily by households with mortgages, who have been sacrificed on behalf of the economy: As research by Associate Professor Ben Phillips of the Australian National University has confirmed, the much-lamented cost-of-living crisis has been imposed on households with
A pox on both your houses. Newspoll today: At least the LNP has some support: Yeh. Nah: How to lose in a two-horse race: double faceplant.
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Centre for Independent Studies (CIS) chief economist, Peter Tulip, was at it again, spreading propaganda about Australia’s fantastical $48 billion of education exports: “Education is our fourth-largest export market; it’s how we pay for our imported TVs and cars and clothes. If you stifle our export markets, our quality of living goes down and we
The Market Ear on the crash that was. What a week! SPX is basically flat from last Friday’s close. Refinitiv THE hammer SPX putting in a massive hammer candle on the weekly chart. Refinitiv Sentiment and SPX Chart shows SPX vs the AAII bull-bear spread. The spread has plummeted lately, which historically has led to
If you thought Paul Keating’s China grovelling was bad, spare a thought for the Albanese government, which is now so infected with ‘Xi Jinping thought’ that it is willing to wreck the entire economy to protect China. I am talking about gas. Australia needs to keep 5% of its current gas exports to put its
Never trust the media. It has no idea. Late last week, it declared Chinese deflation was over after a tony rise in the CPI/ Yeh, na. Goldman has a more reliable take: China’s headline CPI inflation increased to +0.5% yoy in July from +0.2% yoy in June, while headline PPI inflation was flat at -0.8%
Wall Street continued its bounce again on Friday night but with more modest returns as risk markets finally settled down after a week of epic volatility. Currency markets were also sanguine due to the lack of economic releases while bond markets too pulled back from the brink. USD was largely unchanged but some selling pressure
Melbourne’s population has ballooned by around 1.8 million people this century. The city’s population is also officially projected to grow by another 3.7 million to 9.0 million by 2056: It took Melbourne around 170 years to reach a population of around 3.5 million at the turn of the century. If these projections come to fruition,
Young Australians have been sacrificed at the economic altar. Home ownership rates among young Australians have collapsed, extinguishing the Australian dream: The growing share of young Australians stuck in the rental market have then been hit by extreme rental inflation, driving up their cost of living: Young Australians who attend university are paying more than
Senior Labor minister Clare O’Neil once proclaimed that “truckloads” of immigration is the solution to many of Australia’s challenges: “Immigration has been the special sauce in our national history”. “We have never, in post-colonial Australia, met any national challenge or done anything economically viable without truckloads of it”. O’Neil delivered on this belief as Home Affairs