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
Belief in Australian ‘elites’ has left the building In contemporary Australia, almost everyone can identify a festering economic grievance. House prices are certainly insane and need to come down. But those who own them or hold them in fief for a bank and bought them on the way up are terrified of house prices going
International Reading: Poll: 81% of young Americans say economy is bad – MS.now A Boomer Is Astonished That Younger Generations Spend Half Their Income On Rent And Housing. ‘We Would Be Up In Arms!’ – Yahoo Deadly Screwworm Parasite Found in US Threatens Cattle Herd – Bloomberg US restaurants add mandatory tips to bills before
Cotality’s dwelling values results for May confirmed that Sydney and Melbourne are experiencing price corrections, with values declining by more than 2% over the quarter: The latest auction results were abysmal for both markets, with Sydney’s average monthly clearance rate plunging to 49% in May to its lowest level since April 2020: Melbourne’s auction clearance
The March quarter national accounts, released on Wednesday, showed that investment in data centres is booming and driving economic activity. Data centre investment rocketed by $6 billion in the March quarter of 2026, offsetting a small decline in other business investment. Treasurer “Spin” Jim Chalmers was quick to claim credit, even though the federal government
The problem with a vibrant immigration-led economy is that the bourgeoisie constantly mistakes their tasty Pad Thai for a fair and equitable labour market. This is a complete misrepresentation of the truth. Australia has a rich and glorious history of slavery. From the early days of convicts and ‘coolies’, to the near ceaseless exploitation of
The latest Australian interest rate futures pricing suggests that the Reserve Bank of Australia (RBA) will increase the official cash rate once more this year, taking it to a terminal peak of 3.60%. However, Australia’s largest bank and mortgage lender, CBA, differs from this view, now forecasting that the RBA will remain on hold at
You’re right, Michelle, for once. But Ms Bullock said she was not concerned about “stagflation” occurring in Australia at this point. Stagflation is a situation where economic activity is stagnating and you’re dealing with high inflation (stagnation + inflation). It is a damaging phenomenon that can be accompanied by rising unemployment and recession and a
May 2026 marked a new low-water mark for Australia’s auction market, with the national clearance rate plunging to an average of 52%, the lowest result since the depths of the COVID-19 pandemic in April 2020. The decline in the national clearance rate has been driven by Sydney, which recorded an average rate of just 49%,
As we know, the Pilbara killer (Simandou) is pumping iron ore faster than anyone expected, to 2.2mt in May, suggesting that by year-end it could be in the 30-40mt annual range as locomotives arrive en masse. The panic is palpable in big miners. Not much iron ore supply gets replaced above $80. We’ve dropped $10
JPM has had the best oil coverage of the Iran war coverage that I have followed. As the conflict enters its fourth month, one development stands out: prices have become remarkably calm. Brent futures have stabilized near $100 per barrel. Dated Brent—the physical benchmark for prompt delivery—has also eased materially, and its premium to the
At the heart of every federal budget are a series of assumptions made by the federal Treasury on everything from population growth to consumer spending, all of which are combined in an attempt to form a credible view of what the future of the economy and the budget bottom line could look like in 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
