Prominent economist Tony Alexander has released a new report arguing that “fear of overpaying” (FOOP) is behind the collapse in home sales and the ballooning in listings across New Zealand. Accordingly, “deep weakness” has permeated the housing market: Sales of properties are running around 40% down from a year ago, it is taking 13 days
When the National Disability Insurance Scheme (NDIS) began to be rolled out in 2016, we warned that it would attract an army of fraudsters middle-men seeking their slice of the multi-billion honey pot on offer. After all, witnessed similar rorting under the private vocational education and training (VET) and pink batts schemes, alongside the rorting
The Australia Institute’s chief economist and executive director, Richard Denniss, has published startling analysis showing that the Norwegian Government will this year collect $137 billion from their oil industry courtesy of their well designed super profits tax. In turn, Norway’s Sovereign Wealth Fund will soar to $1.8 trillion – shared among only 5.3 million people.
Despite mass ministerial resignations/retirements, Melbourne’s seven months of hard lockdowns, mass privatisations (despite promising otherwise), and a raft of corruption scandals, Daniel Andrews’ Victorian Government is headed for an even bigger majority at the upcoming Victorian election: The ALP on 60.5% (up 1% point from early July) has increased its election-winning lead in Victoria over the
The latest survey of “48 leading economists” by the Economic Society of Australia and The Conversation asked “what other actions could authorities take to bring the inflation rate down?”. The second and third most popular choices related to reining in the gas cartel via domestic reservation and super profits taxes on fossil fuel producers: It’s
Terry McCrann wrote a strange article in the Weekend Australian arguing that the Reserve Bank of Australia’s (RBA) interest rate hikes are actually “super stimulatory” because the real interest rate has fallen: In Australia, at the end of 2021, the RBA’s official cash rate was 0.1 per cent. Inflation for the year was 3.5 per
Morgan Stanley with the note. Global headline inflation climbed to 6.7%Y in June vs 6.3%Y in May. Food and energy prices are still main drivers. Global FX depreciation against the US dollar does not help, we analyze the FX pass-through to headline inflation and identify the most-exposed economies. Global inflation is still increasing, and recent
If case you haven’t seen it, Australian real income are in the process of crashing back to 2009 levels: This circumstance is driven by two main factors. Wage growth is weak and inflation is strong thanks largely to imported goods and the over-building of houses and infrastructure, and the energy shock. So, if you wanted
Australia’s auction results rallied for the third consecutive week, with the preliminary clearance rate lifting above 60% for the first time since early June after 61.5% of auctions returned a successful result (up 2.0% from last week): The rebound nationally was driven by Melbourne, whose preliminary clearance rate rebounded to 65.5%. This was the highest
Nordea sees it as slow and painful and not just in America. ——————————————————————————————————————————- The global economy continues to lose momentum, but central banks will concentrate on their efforts to rein in inflation. Long yields will rebound to higher levels, while the EUR/USD has more downside left. Many leading economic indicators have taken a beating, and