Australia is suffering from a chronic housing shortage because, for two decades, population demand via excessive immigration has run ahead of housing supply. The following chart from AMP chief economist Shane Oliver illustrates that after immigration more than doubled and annual population growth surged by 150,000, Australian housing became structurally undersupplied: Oliver estimated that Australia’s
In the years since the pandemic first arrived on Australia’s shores in early 2020, the government has taken on a greater and greater role as a driver of economic activity. In the past five and a half years, day-to-day government spending as a proportion of GDP has risen by 4.2 percentage points above the pre-Covid
The post The hangover comes for the Aussie economy appeared first on MacroBusiness.
This speaks for itself about Labor. Former Labor premiers Daniel Andrews and Bob Carr have accepted invitations to a Chinese military parade where Russian President Vladimir Putin and North Korean dictator Kim Jong-un are also guests of honour. Andrews and Carr were included in a list of names released by the Chinese foreign ministry of
Couch potatoes are usually white... white TATTERS*.... They hate the news outlet called BogNews** because it ranks of extreme right wing views which they hate... But the Whitetatters need to feel good about themselves AND BogNews always deliver the ingredients: the Chinese are bad, the Russians are nasty, Israel is good and Labor (Australian Political Party) is presently leading Australia to perdition. America is TOPS...
The Australia Institute (TAI) used to talk sense on immigration. In 2015, TAI published an excellent research paper calling for a national debate on Australia’s future population: Since the Sydney Olympics in the year 2000 the population of Australia has grown by 25 per cent. In fact, since the Sydney Olympics, Australia’s population has grown
Sometimes, markets really are stupid. The last time steel was at these prices, iron ore was $10 lower. Traders are so busy buying iron ore on the basis of anti-involution policies that they have forgotten reality. Reuters. China will push to cut steel production between 2025 and 2026, according to an official document reviewed by
The post Iron ore surges as steel collapses appeared first on MacroBusiness.
Victoria disease is the malady of endless Labor government leading to a mass immigration led economic model that destroys living standards via private sector crowding out, onerous public debt, industrial hollowing out and capital shallowing. Rinse and repeat. It is a national affliction but Victoria is it’s progenitor and the case most metastasised. What you
Friday night saw a selloff dominate on risk markets as the end of week and month double twitching and fund flows amid the steepening yield curve on US Treasuries, now at a three year high. Wall Street pulled back the sharpest with European shares still in hesitation mode. The USD was broadly unchanged but finishes
The post Macro Morning appeared first on MacroBusiness.
Australians have been trapped in a long, drawn-out per capita recession. As the following chart illustrates, Australia’s per capita GDP has recorded nine declines in the past 11 quarters. While the cumulative 1.7% decline in real per capita GDP is rather shallow compared to the early-1980s and 1990s recessions, it is the longest-running slump in
Looking at the facts, there’s no reasonable conclusion except that US democracy is done for. But rather than face facts, I’m turning to fiction. So, here’s a story about the collapse of Trumpism, crony capitalism and the AI/crypto bubble. Fiction is a relatively unfamilar mode of writing for me, so critique (on style and structure rather than plausibility) is most welcome.
The crash of 2026
Yet another major bank is on board. Credit Agricole. After years of resistance, the RBA has lowered its productivity growth assumption. This has not led to higher inflation forecasts or the risk of tighter monetary policy. The RBA is assuming lower productivity growth will not only weaken supply but also demand via lower income growth.
The post Everybody wants Australian dollars appeared first on MacroBusiness.
European Commission President Ursula von der Leyen has escalated her anti-Russia rhetoric, calling President Vladimir Putin a “predator”and reciting NATO’s talking point about a looming Russian threat to justify the EU’s push for accelerated militarization.
Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please.
I’m now using Substack as a blogging platform, and for my monthly email newsletter. For the moment, I’ll post both at this blog and on Substack. You can also follow me on Mastodon here.