Albo’s idiots are butchering energy again. The local gas spot price remains glued to Albo’s $12Gj price cap: As a result, summer stresses on the grid use more gas: And the price of power soars: If Albo’s idiots lower the cap to $8Gj (even better would be an export levy above $8Gj) they will flood
The Middle Income Trap is well understood: According to the concept, a country in the middle-income trap has lost its competitive edge in the export of manufactured goods due to rising wages, but is unable to keep up with more developed economies in the high-value-added market. As a result, newly industrialized economies such as South Africa and Brazil have not, for decades, left
The independence of the Reserve Bank of Australia (RBA) was thrown into question last week when Labor state premiers ganged up demanding interest rate cuts. Queensland Premier Steven Miles took to social media on Thursday urging the RBA to begin reducing the cash rate immediately to take the pressure off households. “The Reserve Bank needs
This weekend was shaping up as a major test of Australia’s housing market. Auction clearance rates ended 2023 in the gutter, leading house price growth lower: Moreover, 1,706 homes were scheduled for auction across the combined capitals over the weekend, the second busiest start to February since CoreLogic auction records commenced in 2008. Yet, the
Market expectations are elevated to say the least with a super strong US jobs report on Friday night followed by strikes in the Middle East, with Wall Street hitting a new record high due to very impressive earnings in the tech sector. European shares were mildly positive, but all the action was again in currency
How does a government blow an enormous polling lead without achieving anything? It misreads its job description, re-election strategy, economy and the world. To wit, the latest Newspoll offers Albo no bounce: Where did Albo go wrong? Everywhere. Excessive fiscal spending, inflation, taxes and interest rates have crushed the Australian consumer. Was there a national
The real person at fault is Jim “Chicken” Chalmers, who has forced through half-arsed RBA reform at the worst possible moment. Still, when you get your chance, you’ve got to grab it, and the new governor Michelle “Blundering” Bullock ain’t done that. Terry McRann is rightly incensed: Just like the Fed, in December, our RBA
We are into a bubble blowoff now. The Market Ear has more. Room to run Looks like Magnificent 7 and AI have room to inflate more. And maybe they are not even bubbles. Flow Show Bombastic day Mega Tech had the largest 1-day move since Nov 2022. Mega Tech and AI are the only two
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Iron ore is in a bit of trouble as rebar futures break down: MySteel indexes are OK but beware seasonality: Property sales remain a disaster: Property funding likewise: Deflation in everything is driving up financial conditions: LGSB funding has started slowly: But Goldman reckons a better quota is coming: 31 provincial-level local governments just held
The latest dwelling results from PropTrack showed that Australian median home values retraced slightly from their record high to $823,000 across the combined capital cities and $760,000 nationally: As shown in the next chart, quarterly dwelling value growth has fallen since the Reserve Bank of Australia (RBA) hiked the official cash rate (OCR) another 0.25%