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Articles from MacroBusiness

Virtue signalling won’t solve Australia’s housing crisis

June 1, 2023 - 11:40 -- Admin

I like Greg Jericho from The Guardian and The Australia Institute. I agree with his position on most issues. But one area where we vehemently disagree is immigration. Jericho almost never mentions the negative impacts of high immigration on the economy. And when he does mention immigration, it is usually to besmirch opponents to high

Minack: Australia on verge of recession

June 1, 2023 - 10:20 -- Admin

The excellent Gerard Minack with the note. Recession risks rise as Australian income collapses Australian household disposable income is now falling at the fastest rate ever, outside of recessions. While households have a buffer of unspent pandemic benefits, debt service payments are rising as fixed-rate mortgages expire, and renters are being squeezed in a tight

The great aged care visa farce

June 1, 2023 - 10:00 -- Admin

The minimum salary for temporary ‘skilled’ migrants who are sponsored by an employer will rise from $53,900 to $70,000 from 1 July, which is still $15,000 below the current median full-time income of $85,000. Aged-care providers have urged the government to exempt the sector from the new rules, contending that it will affect their ability

Big trouble for iron ore

June 1, 2023 - 09:40 -- Admin

Iron ore futures rose yesterday and overnight on the Dalian exchange, presumably on the hope of fresh Chinese stimulus. There probably is some targeted version coming but it is not going to help steel, which is collapsing: The China Steel PMI was a complete write0ff: Judging from the steel industry PMI surveyed and released by

RBA to fall for inflation headfake

June 1, 2023 - 09:00 -- Admin

Westpac has the details. In finer detail the index rose 0.8% in April compared to our 0.5% forecast; we assume the market median would have been around 0.4% given the 6.4%yr forecast. We had observed a moderation in the average monthly increase from 0.9%mth through the last three months of 2022 to 0.1%mth through the