Is Labor or the Coalition a better bet for the economy?

Is Labor or the Coalition a better bet for the economy? Fundamentally, the two major political parties share an outlook on the Australian economy. Both prefer a mass immigration-driven economy to the traditional model of advancing productivity. This economic model delivers headline GDP growth, which politicians love to claim is their doing. However, under the bonnet


How These 5 Industries Are Utilizing Blockchain Technology

For the past three decades, the application of blockchain technology has been quickly gaining popularity and adoption in economic systems. And it’s quickly transforming various services in most industries after causing a revolution in the financial segment with cryptocurrency systems development. As a decentralized database system, blockchain technology has become an attractive option for data


Does Labor want to govern or not?

The Australian Labor Party has a unique opportunity to seize government. The Morrison Government has locked itself into a high immigration future by declaring open war on Australian workers via: Abolishing labour market testing requirements. Lowering costs and speeding up approval times for importing foreign workers. Expanding the skilled occupation list to include almost any


MB Christmas Special Report: The bell tolls for Australia

As 2019 comes to a close, the Australian economy is giving mixed messages. On the one hand, the domestic economy is slowing fast, with the private sector in recession and the economy held up largely by government spending. Household incomes continue to stagnate. In response consumers are closing their wallets with retail sales volumes and


MB Q3 Subscribers’ Report: Is Australia’s housing recovery a bull trap?

In MB’s Half-Year special report, entitled “Can ScoMo’s miracle save housing and the economy?”, we forecast a modest house price recovery for Australia into 2020. Over the past quarter, however, the housing market has strengthened more quickly than we anticipated, with some commentators even declaring “the great Aussie housing boom is back”. This report reassesses Australia’s


MB Half-Year Report: Can ScoMo’s miracle save housing and the economy?

In MB’s 2018 Christmas special report, entitled “The Great Australian Housing Crash”, we anticipated a “strong probability” of a housing “crash” for Sydney and Melbourne, loosely defined as a peak-to-trough decline in values equal to or greater than 20%. However, we noted that this outcome would “hinge on Labor following through with its commitment to


Queen Lucy: ‘Let them eat apartments’

Queen Lucy Turnbull of Sydney recently launched the “three cities” vision for her kingdom which has gotten certain financial sector interests excited. From Westpac [our emphasis]: Designing Sydney around three economic hubs presents a substantial urban planning challenge, but the future benefits in productivity gains and liveability are predicted to be profound. Sydney is renowned


MB over the Christmas break

Merry Christmas MB readers and thank you for another interesting year. Here’s our schedule over the Christmas break and January 2018: Mon 25th Dec – 2nd January links only. Tues 3rd January to 5th January full posting by Chris Becker with support from Damien Klassen. Mon 8th January to 12th January full posting by Leith


MB over the Xmas break

Merry Christmas MB readers. Here’s our schedule over the break: 24th Dec – 1st January links only with Chris Becker 2nd Jan – 15th Jan full posting by Chris Becker with support from Damien Klassen 16th Jan – 29th full posting with Leith van Onselen and CB with support from DK 30th Jan normal transmission resumes


MYEFO stinks it up, again

The Mid-Year Economic and Fiscal Outlook (MYEFO) has been released, and as expected it stinks. The key Budget outcomes are shown in the below table, which shows the aggregates against the May Budget. As you can see, there has been a sharp deterioration in the Budget over the forward estimates: As shown above, the forecast


Weekend Musing: Not all opinions are equal

Cross-posted from The Conversation: Why we need to listen to the real experts in science by Michael Clarke, Professor of Zoology at La Trobe University and Susan Lawler, Head of Department, Department of Environmental Management & Ecology at La Trobe University If we want to use scientific thinking to solve problems, we need people to appreciate


Happy New Year!

Dear readers, all of us here at MacroBusiness wish you a prosperous and exciting 2015! We would like to thank you again for a successful 2014. As is customary at this time of year, MB’s two main bloggers – David Llewellyn-Smith and Leith van Onselen – will be taking a much needed break, and MB


Holiday housekeeping

Dear readers Thank you for a successful 2014. As is customary at this time of year, MB’s two main bloggers – David Llewellyn-Smith and Leith van Onselen – will be taking a much needed break, and MB will operate on a reduced timetable. The timetable for the coming month is as follows: Daily links and


Gerard Minack on why in 2015, Australia runs out of luck

By Gerard Minack, founder of Minack Advisors Australia’s once in a century commodity boom is (unsurprisingly) reversing. There is a serious risk – say, a 40% chance – that Australia has a recession in 2015. Recession would become my base case if leading indicators of employment deteriorate. Under almost any scenario the outlook is for


Happy New Year

From all the team at Macro Associates, Happy New Year ! 2013 was a huge year for Macro Business with amazing growth and , with our reader’s support, we hope to do more of the same in 2014. Thank you again to everyone who continues support us, particularly our subscribing members. We have some big


Weekend Links July 13-14

Global Macro/Markets: Energy prices shouldn’t be rising, but traders keep pushing them higher – Quartz Explaining the bond market selloff: Traders versus economists – The Economist A Peek at Trucking Data, and Then the Stock Surged – WSJ Bernanke: Still day trading the economy and stocks love it – Upside Trader Avoiding the Resource Curse: How


Weekend Links July 6-7

Global Macro/Markets: Warren Mosler, a Deficit Lover With a Following – NYT , and further reading Government debt, inflation and money – Mainly macro More on long term returns – Buttonwood Basel plans to toughen up ‘shadow bank’ capital rule – Reuters Basel says how banks add up risks may need reform – Reuters,  our own Deep