The problem with scam GDP growth models is that they always squeeze out through the cracks. Australia’s immigration-led growth model is a great example. Despite glowing headline results, per capita output is a disaster and, over time, households cotton on that their living standards are falling. This manifests in the kind of political chaos we
Shanghai rebar was belted yesterday and is well into the 3200-3400 critical support level. Any sustained break below here and we are on our way back to the 2015 lows. This is my base case. The huge descending triangle pattern is very bearish if it breaks: Mad Dalian and coking coal are similar: CISA output
Overnight saw the NASDAQ have its biggest one session fall in over two years, losing nearly 3% all on the back of chip tech companies as they suffered some political handwaving from President Biden. In currency land, Yen came under enormous pressure with some steep buying as the USD also wavered against Euro and other
DXY was belted and EUR took off last night: AUD was pounded anyway: Even as North Asia catapulted higher: Oil and gold are up: Metals smashed: Miners look like retesting lows: EM flamed out: Junk is fine: Treasuries are bid: Stocks are not: There are lots of cross-currents here: Fed’s Williams and Waller suggested a
Ahead of the Australian Bureau of Statistics (ABS) June labour force release later today, Jobs & Skills Australia published its internet vacancy index (IVI), which plunged by 4.2% in June to be down 18.1% year-on-year. It was the “strongest monthly decline since September 2022”, with online job advertisements 50,200 lower than June 2023. Recruitment activity
Let’s make stuff in Australia: Qenos’ last remaining manufacturing plant could be closed by as early as September as the company’s administrators prepare to hand over the site to property developers. The Australian understands final details of the closure are still to be negotiated, but industry sources say major buyers of Qenos’ products are making
On Wednesday, the Australian Bureau of Statistics (ABS) released data on dwelling approvals and completions for the March quarter of 2024. Only 39,715 dwellings were commenced in the March quarter, roughly one-third less than the 60,000 required to meet the Albanese government’s target of building 1.2 million homes over five years. Over the year to
Another mixed session on Asian markets with the surge on Wall Street overnight again not translating to further confidence in the region, with a much firmer USD not helping as European and US stock futures wobble into the London session. The USD is being pushed around by bullyboy Trump who doesn’t want a rate cut
A special Roy Morgan End of Financial Year (EOFY) webinar with Roy Morgan CEO Michele Levine and Nine Network Finance Editor Chris Kohler discussed Australian perspectives on corporate Australia, particularly the growing level of distrust across the economy. Distrust of any organisation or industry has skyrocketed since the pandemic began, when there was more trust
I keep warning that the Victorian Government’s moronic decision to proceed with the $200 billion Suburban Rail Loop (SRL) will starve the state’s residents of funding for vital infrastructure and services. Already, we are witnessing the impacts with the state government slashing funding to health clinics and hospitals. “Victoria’s priority primary care clinics are bracing