New data highlights the two-tier nature of Australia’s construction sector at present, with the number of cranes deployed on residential building sites falling to a two-year low of 493 in the September quarter, compared with 535 six months earlier. In contrast, the data from quantity surveying firm RLB shows that the number of cranes on
Most stock markets were up today here in Asia today in response to the record high on Wall Street helped by a new slush fund created by the PBOC to keep Chinese equities elevated. The USD remains firm going into tonight’s US CPI print with the Australian dollar steady just above the 67 cent level.
China fanboys come in all shapes and sizes. Some are smarter that others. University of Queensland Vice Chancellor Peter Varghese is a more subtle and dangerous version than the likes of foghorns like Geoff Raby and Paul Keating. Varghese wrote this week: The central strategic axis of the Indo-Pacific region is – and for the
The Reserve Bank of New Zealand has slashed the official cash rate by 0.5% to 4.75%. In arriving at its decision, the Reserve Bank noted that “business investment and consumer spending have been weak, and employment conditions continue to soften. Low productivity growth is also constraining activity”. “High-frequency indicators point to continued subdued growth in
Honestly, Australians are the most media gaslit people on earth. Yes, even worse than the US. This is because, unlike the US, our mainstream press is a desperate vested interest attached to a dying housing bubble economic model that it will never let go. To wit, we get propaganda like this: Australians are open to
Analysis of budget data by The Australian shows that the number of full-time workers in Queensland’s public service has risen by 57,000 to 266,999 since the state government took office in early 2015. The wage bill for full-time public service workers has blown out by around 75%, from $19.96 billion in 2015-16 to $35.22 billion
Government Debt is rising, Personal debt is up, corporate debt is up. Insolvencies are suddenly rising, China is not riding to the rescue. What is the likelihood of a debt crisis in the near future? What are the signs to look for? Join us in this week’s podcast as Nucleus Wealth’s Chief Investment Officer Damien
Gottiboff has some ideas, all them bad: Alternative 1 Victoria has the best undeveloped gas deposits in Australia. They are on shore and are dissolved in very deep water, so don’t require fracking. Alternative 2 The giant Beetaloo gas field in the Northern Territory. It probably would take between two and three years to construct
In 2006, Australia agreed to implement global “Tranche 2” anti-money laundering (AML) rules aimed at non-financial assets (especially property). Ever since, vested interests in the real estate, legal, and accounting professions have lobbied against this AML legislation, causing its implementation to be postponed. Stakeholder discussions in 2008, 2010, 2012, 2014, and 2017 resulted in the
The latest election polling from Roy Morgan shows that Labor and the Coalition are tied 50%-50% on a two-party preferred basis. This week’s polling continues a run of close results stretching back 17 weeks since mid-June, nearly four months ago. Roy Morgan says that if the federal election were held now, the result would be