I have argued from the outset that this week’s productivity summit in Canberra will fail because it won’t address the two most important factors that are wrecking the nation’s productivity: excessive immigration and expensive energy. Australia’s immigration program is simply far too large, poorly targeted, and of low quality to deliver positive outcomes for productivity
RBA interest rates have so far delivered roughly $500 per month in relief to the average mortgage. This is great, but it is not going to move the consumer needle. Why? Two words for you. Gas cartel. The average household pays $3,000 in utility bills, and they are about to rise by about 40%. That’s
Asian share markets are mainly down across the board as risk sentiment continues to shift further into negative space as we all await the Jackson Hole conference on Friday with Fed Chair Powell expected to make some comments regarding the actual trajectory of the US economy before he likely gets fired. The RBNZ cut rates
As predictable as the sun. Daily Mail. Supporters of an anti-immigration rally are being warned not to attend the massive protest, with politicians branding the movement as having ‘no place’ in Australia. March for Australia is organising the protests that will take place on August 31 in several capital cities, including Sydney, Melbourne, Canberra, Perth
Market Forces is some kind of green money lobbyist. It has produced a cracking report on Aussie gas, inadvertently illustrating that market reforms are vital to stabilise Aussie gas usage. First, the report shows that it is gas that most uses gas. Next, it shows where industrial gas usage goes. Finally, it illustrates that 10%
The second day of the Canberra productivity roundtable will reportedly debate how to reduce the backlog of development projects awaiting environmental approval. Danielle Wood, chair of the Productivity Commission (PC), will address roundtable attendees in the morning in her session titled “Better Regulations and Approvals”. Her speech is likely to illustrate how environmental approvals slow
The ferrous complex is looking rather weak suddenly. Part of it is the greatest housing crash in the history of the cosmos is getting worse, not better. Goldman. Hmmm… Inventory rising again. Completions are better, but no cigar. Prices, oh dear, as folks abandon property portfolios. No end in sight.
I suppose you can only ignore the number one input into the immigration-led economy for so long. Even if the Productivity Commission can produce five enormous reports (which are going to be roundly ignored) without mentioning it. The Australian. Business and unions have brawled on the first day of the economic reform roundtable over a
Big. The Market Ear. CAPEX boom and… Will this time be different? Source: BCA Source: BCA This time really different In a very extreme way. Authers: “It’s unheard of for 2% of the index’s companies to account for virtually 40% of its value”. Source: Bloomberg/Authers But they are magnificent The big ones making the big bucks.
Australian home prices hit a fresh record high in July, with more growth expected following the latest interest rate cut from the Reserve Bank of Australia (RBA). The Westpac Consumer Sentiment Index, released on Tuesday, suggested that Australians have become extremely bullish on house prices, expecting significant increases in the months ahead. As illustrated below