Independent economist Tarric Brooker posted the below analysis of the Australian Bureau of Statistics (ABS) Q2 2024 Labour Market Account, showing the extent to which the nation’s job growth is being driven by government roles: “Government-funded industry jobs are still being printed in huge numbers (268,000 YoY). There have only been 33,000 new market based
DXY is firm again: AUD is not: North Asia was mixed: Oil broke at last: Metals will follow if it continues: Miners are a slow-motion train wreck: EM is over: Junk is still fine: The US yield trapdoor opened: Which helped save stocks: Lots of cross-currents here: Trump polling rallying into tonight’s debate is DXY
Australian policymakers, think tanks, the media, and the property lobby want to force Australians to live in high-rise apartments to squeeze an additional 13.5 million people into the country over the next 39 years. For example, projections from the Urban Taskforce have Sydney’s dwelling composition transforming from a majority of detached houses in 2016 to
The Guardian reported last month on the widespread cheating at our universities, which was primarily due to the surge in international students: On Monday, Australia’s most international university, the University of Sydney, was embroiled in another cheating scandal involving hundreds of students: Hundreds of Sydney University students were accused of cheating before teachers received a
A quiet but generally positive day for Asian share markets which haven’t translated the overnight bounce from Wall Street into anything exciting locally with all eyes on tomorrow night’s US CPI print. European stock futures are in fact down heading into the London open so risk remains quiet uneasy. Currency markets are still seeing a
The July monthly inflation indicator from the ABS showed that the disinflationary impulse had broadened. The number of items in the CPI basket with annual inflation below 2% rose above the number of items with prices growing faster than the RBA’s inflation target of 3%: Last week, the Melbourne Institute inflation gauge recorded a sharp
Michael West is among the few commentators willing to call out the billions of dollars of laundered money ploughed into Australia’s property market, contributing to the current affordability crisis: As mainstream media, particularly Nine, is funded by property ads, we don’t see many stories about money laundering. But money-laundering – often wealthy foreign buyers parking
The local gas price has managed to ease slightly below Albo’s catastrophic $12Gj price floor: Only in war have we never seen spring average power prices like this: Meanwhile, the national discussion is consumed by irrelevance: Victorian households can continue cooking with gas after the Allan government moved to exclude gas stovetops from its net
After ten years of the worst central banking in the world, unable to forecast what time the sun was coming up, we will get bugger all reform: The Coalition will block Treasurer Jim Chalmers’ attempt to create a new specialist interest rate-setting board at the Reserve Bank over concerns the government could stack the committee
Why the mainstream needs to lie to itself about everything is some PhD investigation into the human condition that I do not have time for. In the case of China, the perpetual delusion is that it is exiting deflation. It is not. Yesterday’s CPI was weak despite a rebound to 0.6% year on year: But