Glass houses and all of that: China’s newest nuclear-powered attack submarine sank in the spring, a major setback for one of the country’s priority weapons programs, US officials said. The episode, which Chinese authorities scrambled to cover up and hasn’t previously been disclosed, occurred at a shipyard near Wuhan in late May or early June.
Albert Edwards on the US economy. I must apologise for falling asleep on the job. I hadn’t spotted that the US personal saving ratio (SR) had slid all the way back to what I would describe as crisis levels. July’s decline below 3% should be sounding a very loud warning claxon in the ears of
Aldi is one of the most significant disruptors to the Australian economy in the last two decades, having single-handedly broken the Woolworths/Coles supermarket duopoly. Aldi now has 594 stores nationally, accounting for 10% of the market by sales. Aldi has also expanded its reach beyond Australia’s east coast to all states and territories except Tasmania
The four-plus years since the beginning of the pandemic have seen Sydney’s house prices race away from Melbourne’s. Sydney dwelling values have risen by 39% since March 2020, according to PropTrack, easily outpacing the 15% increase recorded in Melbourne: Property pundit Michael Yardney posted the following chart from PropTrack on Twitter (X) showing that Melbourne’s
The Albanese government released the Australian Universities Accord Final Report in February, which announced the following higher education attainment targets: By 2050, Australia’s tertiary education attainment rate is expected to reach at least 80% of the workforce, up from 60% today. The proportion of Australians aged 25 to 34 having tertiary education is expected to
According to new analysis from the Committee for Economic Development of Australia (CEDA), Australians are living through the most protracted period of economic misery since 2011: Rising inflation has driven around half the rise in the misery index, followed by rising interest rates. “Inflation remains stubbornly high, despite having moderated since its peaks. It continues
Do they screen for low IQs to work at the AFR? But out-of-pocket household electricity expenses could increase by 47 per cent on average nationally between October 2024 and September 2025 as state and federal government assistance expires, according to analysis by The Australian Financial Review of Westpac electricity price forecasts. The Albanese government is
SHFE hasn’t risen much but SGX iron ore has: Mad Dalian even more: Coking coal: Destroyed steel mill margins have just been re-destroyed. Not bullish. Mid-September CISA output lifted a bit: But that little rise was enough to reverse the steel inventory draw with stocks up 4.5%. The FE market is sick with little prospect
Let’s try and unpack the terrible reporting of Bloomberg on the new China yawnulus: China’s top leaders ramped up efforts to revive growth with pledges to support fiscal spending and stabilize the beleaguered property sector, giving new momentum to stimulus measures aimed at arresting a slowdown in the world’s second-largest economy. President Xi Jinping’s huddle
The USD pulled back again as stock markets across the complex launched higher in the wake of another round of announced Chinese stimulus, with European shares advancing the most overnight. Wall Street was able to put in another record high, as the latest initial jobless claims came in a little weaker than expected. The USD