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Articles from MacroBusiness

Labor admits superannuation is a Ponzi scheme

April 11, 2020 - 00:10 -- Admin

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

April 11, 2020 - 00:05 -- Admin

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

April 10, 2020 - 00:10 -- Admin

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

April 10, 2020 - 00:05 -- Admin

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

April 9, 2020 - 17:23 -- Admin

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?

April 9, 2020 - 16:10 -- Admin

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

April 9, 2020 - 15:20 -- Admin

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

April 9, 2020 - 15:00 -- Admin

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

April 9, 2020 - 14:20 -- Admin

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

April 9, 2020 - 14:20 -- Admin

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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