Australian Economy

By Leith van Onselen The Morrison Government is pulling out all stops to conclude a ‘free trade agreement’ (FTA) with Indonesia, sending Malcolm Turnbull to schmooze Indonesian President Joko Widodo.

By Leith van Onselen MB has argued ad nauseum that Australia’s education system has become an integral part of the immigration industry and Australia’s population ponzi – effectively a way for foreigners to buy backdoor permanent residency into Australia.

The Economist has no idea what it is talking about regarding Australia and that has led it to issue a dire Australian magazine cover indicator this week.

By Leith van Onselen It seems even Queen Lucy Turnbull’s Greater Sydney Commission (GSC) is having second thoughts about the endless destruction of the living standards as migrants are force-fed into the city.

Via the AFR: …Snigdha Sharma, a consultant who has helped master planning of food and beverage spaces for the likes of Frasers, Dexus and AMP Capital, estimated that F&B now accounted for 20 per cent of space in shopping malls up from about 7 per cent to 8 per cent five years ago.

By Leith van Onselen Paul Kerin – Adjunct Professor, School of Economics, University of Adelaide – is another mass immigration ‘Big Australia’ booster.

The ride share safety net that has crashed the unemployment rate while doing nothing for the underemployed is swiftly being shredded, via Domainfax: When Emmett D’Urso started working as a ride-share driver four years ago, he was earning up to $45 per hour.

Consumer buckling?

Via Bloxo today: On two of the broadest metrics, the economy appears to be in its best shape in six years.

Via CBA: The Australian private sector continued to see output rise during October, but the rate of growth was only slight.

By Leith van Onselen Slowly but surely, the consensus around the mass immigration ‘Big Australia’ policy continues to unravel.

From Greg Jericho today: The simple explanation for our current high level of underemployment is that we have a lot more people working part-time than in the past, and therefore it only serves to reason that we would have more underemployed.

By Leith van Onselen On Friday, Australia’s immigration minister, David Coleman, gave a speech to Migration Institute of Australia – the lobby group for Australian migration service providers – which presented a whole bunch of misleading cherry-picked facts to support Australia’s mass immigration intake.

I don’t usually report the weekly given the volatility but such a large break is significant: Consumer sentiment plunges  ANZ-Roy Morgan Australian Consumer Confidence plunged 6% last week, closing just below its long term average and at its lowest level for more than a year.