Articles from MacroBusiness

Attack of the mass immigration boosters

The Australian’s Stephen Lunn has penned an article calling for the Morrison Government to quickly resume the mass immigration ‘Big Australia’ policy at the earliest opportunity. The article features immigration extremist Chris Richardson from Deloitte Access Economics, an economist who has previously called for Australia to lift its already turbo-charged immigration intake. Let’s examine the

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Flying Circus: Housing bears “shitting themselves”

From the Flying Circus today: New home buyers to get cash grants – housing bears shitting themselves https://t.co/dtZDY1uEyi — christopher joye (@cjoye) May 31, 2020 Guess who’s long bank hybrids then? I note that the housing package will be jobs supportive so that’s good for housing in a general sense. A few renos will do

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Shell has a good laugh at manufactruing rennaisance

At least it’s honest about gutting the economy, via The Australian: The National COVID-19 Co-ordination Commission, chaired by former Dow Chemicals boss Andrew Liveris, recommended the federal government take immediate action to create an gas market that could deliver globally competitive results similar to the US with gas available at just $4 a gigajoule, more

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Australian dollar hits 0.67

A new post-COVID high for the AUD this morning: Bonds are stable: XJO is soft with S&P futures: Big Iron is up and away: Big Gas is struggling to believe: As is Big Gold: Big Banks are undoing the surge: A Big Chunt struggles: Westpac’s fair value model has lifted a little but remains well

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CoreLogic: Both property prices and rents are falling

Following on from MB’s preliminary report at the 5-City level, CoreLogic has released its full dwelling value results for May, which reports that Australian dwelling values declined by 0.4% over the month, with capital city dwelling values declining more sharply by 0.5%: As shown above, the smaller capitals experienced mixed conditions in May, with rises

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Report: Go8 universities shaft domestic students for international

Dr Bob Birrell and Dr Katharine Betts from the Australian Population Research Institute (APRI) have released another terrific research paper, entitled “The Crisis in the Overseas Student Industry: How should Government respond?” which highlights how Australia’s Group of Eight (Go8) Universities have shafted domestic students in the greedy pursuit of international student riches, especially from

Massive new home owner’s grant launches this week

It was well telegraphed last week. But after intense lobbying from the Property Council of Australia (PCA) and the Master Builders Australia (MBA), and a warning from the Housing Industry Association (HIA) that dwelling commencements would collapse to around half of peak levels: The Morrison Government will reportedly announce this week a new $50,000 grant

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COVID-19 puts final nail in consumer coffin

If Friday’s private sector credit data from the Reserve Bank of Australia (RBA) showed one thing it was that COVID-19 has put a final nail in the Australian consumer’s coffin. According to the RBA, the stock of personal credit was already in terminal decline. However, COVID-19 has sent it crashing through the floor, collapsing by

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Gladys Liu condemns Manchurian Dan

What a world this is, via Domain: Federal Parliament’s first Chinese-born MP says the Andrews government’s deal with Beijing on the trillion-dollar Belt and Road Initiative has been shrouded in secrecy, and called on the state to release full details of the scheme’s benefit to Victoria. Gladys Liu said although Australia was open to entering

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Macro Morning

By Chris Becker Action on markets on Friday night was centered around the US reaction to the Chinese boot on the neck on Hong Kong, with Trump unable to enact anything but hot air in response which calmed stocks on Wall Street somewhat even though the headline Dow fell slightly. The weekend race riots across

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