A mild selloff across Asian share markets today following the mixed action overnight due to the lack of direction from closed US markets. Focus on the Canadian imbroglio over the Huawei CFO court case brought the Yen buyers to the fore and saw risk currencies like Aussie and Kiwi to falter. The latest IMF growth
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By Leith van Onselen Oxfam has released a new report, entitled “Public good or private wealth”, which claims that inequality in Australia has worsened, with the top 1% of Australians owning more wealth than the bottom 70%, as well as 2018 recording another record number of billionaires, from 33 to 43: The number of Australian
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By Leith van Onselen Yesterday I argued that Labor had little to fear from the incessant scare campaign against its negative gearing and capital gains tax (CGT) reforms, noting that it took the very same policy to the 2016 Federal Election and performed better than anyone expected. Today, The Guardian’s Greg Jericho has come to
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by Chris Becker The PBOC are back on the weakening bent today with no news about the US/China trade talks or Trump’s shutdown not pushing currency markets around. The Australian dollar is flat lining at the mid 71s against USD, ready to make a new daily low as it moves to breakdown before Thursday’s unemployment
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By Leith van Onselen Acadata has released its latest house price results for the UK, which shows that house price growth has fallen to its slowest level since April 2012, falling in real terms: Prices rose again in December – for the fifth month in a row – up 0.3%, or £875. Annual price growth
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By Leith van Onselen Domainfax has posted a wishful article speculating that Chinese buyers will come to the rescue of Australia’s sinking housing market: “Because few other appealing investment opportunities exist, Chinese have put 53 per cent of their wealth into real estate. In a 2018 survey, Chinese overseas investors named residential property their favourite
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By Leith van Onselen Yesterday, it was revealed that the Australian Treasury had sounded the property alarm, warning the federal government that negatively geared investors could start dumping properties, exacerbating the bust: “Where around two-thirds of housing investors are negatively geared, these investments are implicitly predicated on expectations of capital gain in the future”… “Should
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By Leith van Onselen As house prices fall, and the economy begins grinding to a halt, we are witnessing the start of the housing bust blame game. In recent weeks, we’ve witnessed L-Plate Treasurer, Josh Frydenberg, urge the banks to lend: “My message to the banks is still very clear – keep the books open.
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by Chris Becker The Bitcoin boosters are back! HODL! Russia is still going to save the day and Bitcoin is going to $2 million! From Mickey: The economic analyst who claims Russia is about to buy more than $10 Billion worth of Bitcoin has responded to doubts about his credibility. Speaking exclusively to Micky News, Vladislav
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By Leith van Onselen The Australian’s Judith Sloan has done a terrific job tearing apart the theme of the 2019 World Economic Forum (WEF) in Davos: “Globalisation 4.0: Shaping a Global Architecture in the Age of the Fourth Industrial Revolution”. The annual WEF forum in Davos is attended by the ‘who’s who’ of global elites,
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