Australian Economy

Via Mark Latham today: The NSW government boasts of “building a city the size of Adelaide” in outer Western Sydney – that is, 1.3 million people in the districts west of the M7 motorway.

Via HIA: “New home sales in May bounced back to their highest monthly level in over a year,” stated HIA’s Chief Economist, Tim Reardon.

Via The American Interest: The West needs to focus on these fundamentals to achieve its overarching strategic objective: preventing China’s domination of Eurasia.

Remarkable parallels are suddenly afoot.

Via Peter Martin at  The Conversation.

And the trend is not nice: Expect worse as building goes bust.

The Reserve Bank of Australia (RBA) has released its debt ratios for the March quarter, which revealed that Australian households’ debt loads have hit another all-time high.

According to the Australian Trucking Association (ATA), Australia is facing a serious shortage of truck drivers, which threatens the economy: An ageing workforce and preconceptions about the transport industry are helping create a nationwide truck driver shortage that has serious implications for Australia’s economy.

Because he is lying to himself in a speech today.

From Abul Rizvi, former Deputy Secretary in the Department of Immigration, at Inside Story: Morrison government’s $158 billion tax cuts.

Via the excellent Damien Boey at Credit Suisse: From the ABS’ engineering construction release, we learn that public work done fell by roughly 13% in the year-to-1Q.

The Australian Bureau of Statistics (ABS) has released its Finance & Wealth data for the March quarter, which reported further falls in household wealth: Chief Economist for the ABS, Bruce Hockman, said: “Residential real estate experienced its fifth consecutive quarter of real holding losses.

Via Domain: Trade representatives from more than a dozen countries have flown into Australia to conduct highly secretive negotiations on a mega deal that will sideline the United States amid the ongoing economic fall-out from the US-China trade war.

In 2017, the Fair Work Ombudsman (FWO) revealed that migrant workers were involved in more than 75% of legal actions launched against unscrupulous employers.

Above is an incredibly good interview between Sustainable Australia adviser, Kelvin Thomson, and 2GBs Michael McLaren, on the myriad of problems caused by the mass immigration ‘Big Australia’ policy.

Via Reuters: Australia’s share in India’s coking coal market fell to 71 per cent, or 36.91 million tonnes, during the year ended March 2019 from about 88 per cent three years ago, India coal ministry data reviewed by Reuters showed.

From Richard Denniss at the AFR: Imagine if the Reserve Bank of Australia (RBA) conducted monetary policy the way the Morrison government conducted fiscal policy.

Back into the oven for the pizza giant, via the Herald Sun: Pizza giant Domino’s will on Tuesday be hit with a class action by workers who claim to have been underpaid for almost five years.