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Why ordinary Aussie workers will shoulder a higher tax burden

July 19, 2018 - 00:14 -- Admin

By Leith van Onselen The Parliamentary Budget Office (PBO) has released a new report examining the future of tax revenue in Australia, which has projected that federal budget will become even more reliant on personal income tax revenue as other sources dwindle and no action is taken to better tax resources: …since 2001–02, the most significant

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More banks abandon SMSF mortgages

July 19, 2018 - 00:14 -- Admin

Pants pooing has become a common pastime for specufestors: Over the past week, four separate lenders have announced their exit from the SMSF lending space, with a further two banks saying loans will no longer be offered to SMSFs. Westpac announced that effective 31 July 2018 it would no longer offer property loans to SMSFs for both

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Why emerging markets suck the big one

July 19, 2018 - 00:10 -- Admin

Via Bloomberg: Emerging markets are poised to rally after more than $7 trillion in stocks slid into bear territory, according to three of the world’s largest money managers. Strategists and investors from Goldman Sachs Group Inc., Franklin Templeton Investments and BlackRock Inc. say cheap prices, rising corporate profits and strong fundamentals will outweigh risks from

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How damaging is a trade war to Australia?

July 19, 2018 - 00:10 -- Admin

Via UBS: US-China trade tensions materially escalate The announcement last week by the US administration to impose tariffs on an additional $200bn in Chinese imports, marks a material escalation of trade tensions. While we are still not facing an all-out trade war, it can no longer be dismissed & we are certainly moving towards an

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ANZ: High house prices, immigration, a ‘productivity killer’

July 19, 2018 - 00:10 -- Admin

By Leith van Onselen ANZ’s latest Property Focus claims that claims that unaffordable housing and excessive immigration is killing productivity in New Zealand. From Interest.co.nz: “High house prices make it more difficult for younger households to invest in businesses, limiting the entrepreneurial endeavours of younger people. They also create barriers to labour mobility and social

Another view on a slowing China

July 19, 2018 - 00:04 -- Admin

Via Barclays: Credit crunch, escalating tariffs, more easing Moderating April-May data suggest the rise of a “credit crunch” due to various government bodies’ sustained policy tightening, which has started to have a visible effect on the economy. With our theme of moderating growth, tightening regulations and escalating trade tension continuing to play out into H2,

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Links 19 July 2018

July 19, 2018 - 00:01 -- Admin

Global Macro / Markets / Investing: The economics of blockchains – VOX The Most Important Asset – Of Dollars & Data An Open Letter to Elon Musk – Loup Ventures Goldman Sachs Ushers In New Era as Solomon Takes CEO Reins – Bloomberg Value is Dead, Long Live Value, with Modest Proposal – The Investor’s

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Macro Afternoon

July 18, 2018 - 16:42 -- Admin

Outside China, Asian stocks extended gains after last night’s rally on Wall Street pushed on by comments from the new Fed Chair. The USD continues to power ahead versus the major currency pairs with the Aussie dollar pushed to a two week low, gold at a nearly yearly low while the Yuan remains very weak.

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Pascometer redlines on Australia boom!

July 18, 2018 - 14:22 -- Admin

Weeo, weeoo, weeoo. After a month or so of dead battery commentary, the Pascometer has plugged itself back in with a surge of 240 volt headlines: Economic commentary is as prone to fashion as haircuts and skirt lengths, but there’s one Australian look that’s always popular – ‘We’ll all be rooned’, to quote the poem

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LVO talks Coalition immigration lies on Radio 2GB

July 18, 2018 - 12:30 -- Admin

This morning I was interviewed by Luke Grant on Sydney Radio 2GB, where we discussed the Coalition’s illusionary cuts to the permanent migrant intake, the call for a Senate review into population policy, among other immigration-related issues. Enjoy!

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