Hi all, A quick note to offer guidance on the new website. As well as the layout changes that make it easier to access content for new readers, it comes with a dramatically improved sign-up and resubscription process, greatly enhanced speed, and a much better mobile experience (since 95% of traffic is now phone!). The
Education exports have long been touted as Australia’s fourth-largest export earner—used by governments and universities alike to defend generous post-study work rights and lobby for larger visa quotas. The federal government’s 2023 Review into the Migration System stated that “international education is Australia’s fourth largest export, growing at 10% between 2010 and 2019 – more
In this week’s podcast, Nucleus Wealth’s Chief Investment Officer, Damien Klassen, is joined by Dr. Andrew Barton to examine whether SpaceX can continue to defy both gravity and valuation. We unpack the implications of the recent SpaceX IPO, what investors are really paying for in the world’s most closely watched private space company, and whether
According to ship tracking data from Kpler, shipments from the project’s Morebaya port reached 2.2 million tonnes during the month, far more than the record of 1.3 million tonnes set in April. In contrast, each of the first three months of the year saw only 0.6 million tonnes or less. According to Alexandre Claude, founder
I reported this week how the Reserve Bank of Australia (RBA) disagrees with the federal budget’s forecast of new housing investment, suggesting that the government may be overestimating housing supply by more than 10,000 homes over two years. The RBA expects dwelling investment to fall from late 2027 due to construction constraints. By contrast, the
TME with the charts. Markets Priced For Perfection Markets continue to reward perfection. The AI trade remains relentless, valuations are expanding at a remarkable pace, and investors show little interest in downside protection. At the same time, Treasury yields are attempting to move higher again, creating a backdrop that looks increasingly stretched. For now, momentum
The Fringe Benefits Tax (FBT) exemption for electric vehicles (EVs) is proving to be both very costly to the federal budget and highly inequitable. Taxpayers spent $1.35 billion on the subsidy in 2025-26, and the Treasury estimates that the entire cost of the FBT exemption for battery EVs will be $9.7 billion between 2026-27 and
Are we now cookie-cutting morons in our political parties? Energy Minister Chris Bowen has left the door open to an audacious union proposal to create cheap subsidised power for Australia’s struggling manufacturing and metals smelting businesses by nationalising a large chunk of the electricity grid. The multibillion-dollar proposal by the Electrical Trades Union is designed
By Jennie George Waiting for the Budget to provide information about Labor’s Capacity Investment Scheme (CIS) left you none the wiser. Investment in large-scale renewable energy and storage projects is underwritten by taxpayers in contracts “not for publication due to commercial sensitivities”. Using the defence of “commercial in confidence” prevents scrutiny of the scheme’s costs
Check out these two charts from yesterday’s National Accounts. They tell you a lot about the economy. First, note the left side, which clearly indicates that Labor’s relentless splurge on public servants has annihilated productivity. I put it to you that this is a function of an immigration-led economy under different political management. When the
It’s a laugh a minute as the real estate developer, golfer, son-in-law, and bigot try to disentangle themselves from the most destructive war on US power in history, which is, in truth, run by their boss, the Israeli President of the United States, IPOTUS Benjamin Netanyahu. The US A-Team is doing a bang-up job for
In the hundreds and hundreds of pages of documents accompanying the Albanese government’s federal budget, there are two tables that arguably illustrate the nature of the challenges the budget and the nation face on the road ahead. On the revenue side, the budget projects that in 2029-30, the changes to negative gearing and capital gains
Australian housing affordability continues to deteriorate amid rising mortgage rates and rents. However, the polar opposite is occurring in Canada, where home prices and rents are declining, and mortgage rates remain below their recent peak. Canadian purchase affordability continues to improve: The following chart from Justin Fabo at Antipodean Macro shows that Canadian home prices
KOGAS is having a good old whinge at LNG robber baron HQ. State-owned Korea Gas Corporation has contradicted the Albanese government’s claim that Labor’s proposed domestic gas reservation scheme would not impact long-term LNG sales contracts, saying it imposes “a direct obligation” on the world’s largest LNG buyer. KOGAS Australia, a 15 per cent owner
The US bombed Queshm Island and attacked an Iranian oil tanker overnight. In retalian, Iran attacked a US ship. And is bombing Kuwait and Bahrain (probably US bases). It is also bombing Irbil in Iraq. Anothe US centre. Israel jets seen over Beiruit. Ship attacked off UAE. Unconfirmed bombardment of UAE and Saudi. Iran has
This time, it is the YouGov Sky News Pulse survey that joins RedBridge Group and DemoAU in showing a primary vote lead for One Nation. It has risen four points to 29% in the second poll since the budget, while Labour has dropped two points to 26% for the second consecutive fortnight. The Coalition is
According to the Australian Bureau of Statistics (ABS) Population Clock, the nation’s population has passed 28 million, with the latest million added in less than 2.5 years – equivalent to adding two Canberras. The driver of Australia’s extreme population growth has obviously been the federal government’s mass migration, which was more than doubled from the
The Australian Bureau of Statistics (ABS) has released national accounts data for the March quarter of 2026. Following a batch of positive results, headline GDP was 0.3% over the March quarter, with per capita GDP falling back into negative territory (-0.1%). As illustrated in the next chart, per capita GDP has declined in 10 of
Having engulfed your anus, the great bubble of our time takes in Neptune. More AI, No Protection The AI chase continues to broaden. Software is squeezing, China tech is waking up, Korea remains in full mania mode, and investors continue to abandon protection in favor of upside. The trend remains powerful, but the market is
Across multiple inquiries, reports, and economic analyses, the CFMEU’s conduct on Victoria’s Big Build is consistently linked to higher construction costs, lower productivity, and systemic rorting that added billions to project budgets. The most authoritative estimate comes from the Watson Review, which found the CFMEU’s behaviour imposed at least $15 billion in excess costs on Victorian
Never mind competitiveness! Almost three million workers will get pay rises of 4.75 per cent after the annual wage review, but those at the very bottom will get an even higher increase of 6 per cent. The Fair Work Commission on Tuesday ruled that the minimum wage of $24.95 an hour should increase to $26.44
Every month, the Albanese government’s target of constructing 1.2 million homes over five years, or 240,000 dwellings per year, slides further into fantasy land. The Australian Bureau of Statistics (ABS) released housing approvals for April, which showed another 3.4% decline in approvals during the month in seasonally adjusted terms and zero growth in trend terms:
The latest Gulf headlines are a rolling joke. Prices climbed Tuesday on headlines from Iranian news agencies that cast doubt on progress in the talks, as well as an AFP report that Hezbollah won’t accept a partial ceasefire with Israel. A truce in Lebanon had been cited by Iranian officials as a condition for a broader
In his years as Shadow Treasurer, Jim Chalmers would often examine claims made by then Treasurer Josh Frydenberg and Prime Minister Scott Morrison through an analytical lens, placing a heavy emphasis on per capita figures and metrics that more closely relate to real-world outcomes than headline numbers. At the time, he brought to the forefront
The 25-year boom in Australian house prices looks to have come to an end amid a ‘perfect storm’ of headwinds. According to Cotality, the largest peak-to-trough decline in Australian dwelling values was 8.2%, recorded between 2017-19 amid the banking royal commission and an APRA-induced tightening of credit standards for property investors. Cotality research director Tim
First home buyers (FHBs) who entered the market recently with very small deposits under Labor’s 5% deposit scheme are now the group most exposed to rising interest rates and falling home prices, especially if they purchased in Sydney or Melbourne. Three RBA rate hikes in six months have pushed FHB mortgage delinquencies to a seven‑month
