When RBA kiss-arses like old Rossco turn, you know your central bank has lost its credibility. With the labour market so “tight”, surely wages could take off at any moment, halting the fall in inflation – or worse, sending it back up. What’s unnerving them is an old ’70s-model NAIRU machine in the corner, with
Asian share markets are generally doing well after a big drop on Wall Street from Friday night, but have absorbed the volatility out of the German election result from the weekend. Local shares are still flopping around due to the latest rate cut that wasn’t really a rate cut from the RBA while the Australian
Late last week, I was interviewed by Tom Elliott from Radio 3AW Melbourne regarding the dire financial situation facing the state. Tom wanted to know what was driving Victoria’s ballooning debt. And, more importantly, the measures the state government could take to resolve the situation. Below is a summary of the themes discussed in the
Australian housing affordability has never been worse. The percentage of income required to meet repayments on the median-sized mortgage hit a record high of 50.6% at the end of 2024. Rental affordability also reached a new low, making it difficult for first-time buyers to save a deposit. Prior to last week’s 0.25% interest rate cut
Westpac’s credit card tracker for the two weeks prior to the rate cut. The Westpac-DataX Card Tracker Index* barely budged over the past fortnight, with the latest print coming in at 136.6, up a mere 0.1pts. After a rollercoaster few months, spending patterns appear to be normalising somewhat. So far, February’s reads have been on
Another day, another energy superidiot. Opposition Leader Peter Dutton has insisted he is not a “zealot” for nuclear, but wants to ensure Australia can deliver “affordable energy” as he touted the Coalition’s plans during an address at The Advertiser’s Future SA. Speaking at the event on Friday, Mr Dutton highlighted the “core” issue of energy
As we know, the RBA is paid to lie about the immigration-led, labour market expansion economic model because if it didn’t, the model would collapse at the ballot box. It is always amusing, in the usual dark way, to watch as one of the world’s most corrupt central banks dances around the truth. I noted
A year ago, former Treasury Secretary Dr Ken Henry, who produced a 1,000-page review of Australia’s tax system in 2010, advocated for fundamental tax reform, claiming that the existing system is an “intergenerational tragedy”. Henry asserted that Australia’s tax structure has deteriorated compared to 15 years ago, with young people bearing the brunt of higher
I do love a Michale Hartnett sweeping generalisation but this one got my goat. The Price is Right: China house prices on rise, up in 24 of 70 big cities in Jan (Chart 5); if China retail sales accelerate>6%YoY =global investors go long China (not just BATX 2 stocks). Here is the latest Chinese housing
Via Judo Bank. Flash Australia PMI Composite Output Index(1): 51.2 (Jan: 51.1). 6-month high. Flash Australia Services PMI Business Activity Index(2): 51.4 (Jan: 51.2). 6-month high. Flash Australia Manufacturing Output Index(3): 50.1 (Jan: 50.5). 2-month low. Flash Australia Manufacturing PMI(4): 50.6 (Jan: 50.2). 27-month high. Business activity in Australia’s private sector expanded at a faster