When RBA kiss-arses like old Rossco turn, you know your central bank has lost its credibility. With the labour market so “tight”, surely wages could take off at any moment, halting the fall in inflation – or worse, sending it back up. What’s unnerving them is an old ’70s-model NAIRU machine in the corner, with
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Asian share markets are generally doing well after a big drop on Wall Street from Friday night, but have absorbed the volatility out of the German election result from the weekend. Local shares are still flopping around due to the latest rate cut that wasn’t really a rate cut from the RBA while the Australian
The post Macro Afternoon appeared first on MacroBusiness.
Late last week, I was interviewed by Tom Elliott from Radio 3AW Melbourne regarding the dire financial situation facing the state. Tom wanted to know what was driving Victoria’s ballooning debt. And, more importantly, the measures the state government could take to resolve the situation. Below is a summary of the themes discussed in the
Australian housing affordability has never been worse. The percentage of income required to meet repayments on the median-sized mortgage hit a record high of 50.6% at the end of 2024. Rental affordability also reached a new low, making it difficult for first-time buyers to save a deposit. Prior to last week’s 0.25% interest rate cut
Westpac’s credit card tracker for the two weeks prior to the rate cut. The Westpac-DataX Card Tracker Index* barely budged over the past fortnight, with the latest print coming in at 136.6, up a mere 0.1pts. After a rollercoaster few months, spending patterns appear to be normalising somewhat. So far, February’s reads have been on
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Another day, another energy superidiot. Opposition Leader Peter Dutton has insisted he is not a “zealot” for nuclear, but wants to ensure Australia can deliver “affordable energy” as he touted the Coalition’s plans during an address at The Advertiser’s Future SA. Speaking at the event on Friday, Mr Dutton highlighted the “core” issue of energy
As we know, the RBA is paid to lie about the immigration-led, labour market expansion economic model because if it didn’t, the model would collapse at the ballot box. It is always amusing, in the usual dark way, to watch as one of the world’s most corrupt central banks dances around the truth. I noted
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Prosper Australia today expressed deep disappointment at the Victorian Government’s continued failure to implement value capture mechanisms in its recent upzoning announcements. By allowing landowners to reap windfall gains without returning a fair share to the community, the government has missed a vital opportunity to fund essential infrastructure and public services.
Trump’s assaults on governance could trigger systemic collapse. Here’s how it might happen, and how we can prepare.
By George Monbiot, published in the Guardian 18th February 2025
This is how Labour’s war on regulations will stymie its own policies. It is irrational and self-destructive.
By George Monbiot, published in the Guardian 11th February 2025
This might sound astonishing, but the UK government’s core programme now appears to be the same as Donald Trump’s: dismantling the administrative state. There’s less theatre, but the results could prove harder to contest. Absurd? Consider the evidence.
What could $27 billion fund if Commonwealth-state transfers were adjusted to bring revenue and expenses for each level of government closer to balance?
Over the past century and a half, politics and economics have evolved significantly in how we manage society. Yet, the core principle remains: every person born on this earth has a right to a share of its bounty.