Articles from MacroBusiness

Labor admits superannuation is a Ponzi scheme

Labor’s shadow Treasurer, Jim Chalmers, has penned a letter calling on the Reserve Bank of Australia (RBA) to provide a liquidity backstop for cash-strapped superannuation funds so that they can meet member’s redemption requests. Chalmers’ request has arisen following the Morrison Government’s announcement that it would permit Australians to access up to $20,000 in savings

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CoreLogic Weekly house price update: still rising

In the week ended 9 April 2020, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, rose another 0.19%: The rise in values was broad based: Quarterly dwelling values continue to rise, driven by Sydney followed by Melbourne: The rebound across Sydney and Melbourne has driven strong annual gains

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Stimulus delivers adrenaline shot for Aussie economy

Economic consultants, AlphaBeta have released interesting research showing that the Morrison Government’s stimulus is working to buttress the Australian economy from the coronavirus shutdown: Let nobody tell you stimulus doesn’t work. AlphaBeta & illion have teamed up to deliver Australia’s fastest tracker of economic activity through COVID19. The weekly real time tracker shows a dramatic

Easter Long Weekend Links: 10-13 April 2020

Global Macro / Markets / Investing: How COVID-19 Has Impacted Media Consumption, by Generation – Visual Capitalist COVID-19 and the Failures of Capitalism – Canadian Dimension Coronavirus putting world on track for new Great Depression, says WTO – The Guardian The Coronavirus pandemic’s damage to the global economy could last decades – NY Times Banking

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North: Capital city forced property sales to boom

Vai Martin North: Nine News asked me to run some analysis on potential forced property sales, which they ran in Perth, Melbourne and Sydney yesterday. Today I wanted to add some extra detail from our analysis and explain how we established the baseline and share some heat maps for some of the major urban centres.

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MB Fund Podcast: Is it time to re-enter the world stock market?

Is it time to re-enter the world stock market? In today’s webinar MB Fund’s Head of Investments Damien Klassen, Chief Strategist David Llewellyn-Smith and Tim Fuller investigate Topics on the agenda include a summary of the current issues facing worldwide economies and markets, Coronavirus just being the pin popping the bubble, China’s recovery, dealing with

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Supermarkets boom as everything else busts

Statistics New Zealand has released retail sales data for March, which shows that supermarket sales have boomed while virtually every other category of spending collapsed: Groceries had record-high sales in March, but retail card spending fell across the board during the month from clothes to fuel. Total retail sales fell $231 million (3.9 percent) in

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ACTU backs temporary visa migrants over local workers

Virtue signalling ACTU secretary, Sally McManus, has lambasted the Morrison Government for not providing JobKeeper and JobSeeker subsidies to migrant workers on temporary visas: “If people are stuck in our country, we can’t let them starve”. Many visa workers can’t leave the country and the borders are closed. The union won #JobKeeper wage subsidy must

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RBA does the balance sheets at risk

RBA FSR: Household and Business Finances in Australia Australian businesses and households are mostly well placed to face the large contraction in economic activity associated with the COVID-19 pandemic although it will test their financial resilience. As a result of the shock, many businesses have limited or no income, and many workers have been stood down,

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Melbourne ratepayers slugged international student tax

Melbourne City Council has pledged to use ratepayers money to provide financial support to international students: Although a figure has not been set, councillors have asked staff to develop ways to financially support overseas students, many of whom have lost casual jobs in retail and hospitality as a result of the COVID-19 pandemic… “On Tuesday

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