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Property Council demands migrant meat for grinder

The mask has slipped and the reason Australia has had such high immigration rates has been revealed: The Property Council has called on the Federal Government to extend its successful HomeBuilder stimulus program for new housing construction for a further six months to July 2021. The Property Council has also recommended a ‘Welcome to Australia’

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Banks brace for tidal wave of mortgage defaults

According to Richard Gluyas at The Australian, Australia’s major banks have deployed more staff to their financial hardship units as loan deferral periods for mortgage and small business customers begin to wind down. The banks are also anticipating a sharp rise in loan defaults as government stimulus measures begin to be scaled back. National Australia

36

Coalition to launch new ProfitKeeper program

Earlier this month, we reported how the Morrison Government’s JobKeeper subsidy has been an absolute boon for Australian business owners, juicing company dividends and profits. This was reflected in the latest national accounts for the June quarter, which showed that employee wages & salaries fell by 3.3% over the quarter while company profits soared by

42

Let international student sector burn!

Burn you bastard. Burn! At the ABC: A government program to bring international university students back to Australia is yet to get off the ground, as businesses reliant on overseas students warn the market will take years to recover, even in the unlikely event borders reopened for next year’s semester one intake. The Federal Education

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HK scientist: COVID-19 was “created in a lab”

This information is not new: The arguments put forward by the “whistleblower” have been around for six months: Some respectable virologists support this thesis. Others do not. My own view is it is likely the right explanation. The dubious process by which RatG13 suddenly appeared as an intellectual figment without samples, which were supposedly lost,

40

Federal government passes buck on repatriating Aussies

With up to 100,000 Aussies stranded abroad, Deputy Prime Minister Michael McCormack has written to state governments demanding they lift their hotel quarantine capacity so that the arrival cap on returning Aussies can be lifted from 4,000 a week to 6,000 a week: New South Wales, Queensland and Western Australia have each been asked to

51

Permanent migration falls to 15-year low

The Department of Home Affairs yesterday released permanent migration outcomes for 2019-20: The permanent migration intake was 140,366 in 2019-20. Seventy per cent of the visas were granted through the skilled stream (95,843 in total), including 4,109 places under the highly skilled Global Talent – Independent program, launched in November 2019. There were 23,372 regional

33

Labor greybeard: We must kow tow to “appalling” China

Craig Emerson massively over-egging impacts of deteriorating relations with China by telling us that iron ore is at risk. Sure, by 2030. Of course, there’ll be an adjustment as other exports fall way but we’ll be fine as the AUD craters and boosts exports to other nations. Commodities are fungible. The only thing “stupid” here

35

Australia’s mortgage market goes boom!

Today’s new mortgage data from the Australian Bureau of Statistics (ABS) recorded a strong rebound in July as COVID-19 restrictions were eased: The next chart plots the time series: Total new mortgage commitments (excluding refinancings) rose by 8.9% in July, with owner-occupied mortgages surging 10.7% and investor mortgages rising 3.5%. Year-on-year, total new mortgage commitments

42

CBA: Aussie property prices to rebound in 2021

CBA’s head of Australian economics has revised down its forecast for peak-to-trough property price falls and now believes that values will rebound strongly in 2021: Key Points The COVID-19 pandemic has had a negative impact on Australian residential property prices, but outcomes vary significantly by capital city. We expect dwelling prices to continue to decline

45

Drew Pavlou smokes fat cigar

Suspended student @DrewPavlou lights a “victory cigar” outside the University of Queensland’s campus, after the federal government announced an inquiry into foreign interference at universities in Australia. https://t.co/VZ3A1cpmr5 #auspol #7NEWS pic.twitter.com/qiDPKiAEbA — 7NEWS Brisbane (@7NewsBrisbane) August 31, 2020 Sack UQ management. Reinstate Pavlou with compensation.

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Sub prime mortgages green-lit by ASIC

I noted last week how the Australian Prudential Regulatory Authority (APRA) had abandoned its responsible mortgage lending case against Westpac amid pressure from the heads of the RBA and Treasury, who warned that continuing would cripple Australia’s economic recovery post COVID-19. Today, ASIC chairman James Shipton has confirmed that the regulator does not want to

40

Border-loving Aussies club Morrison Newspoll

Hoocoodanode that most Aussies would put the lives of loved ones above a few fallacious silver pieces? Via The Australian: An exclusive Newspoll conducted for The Australians shows the federal political contest tightening between the two major parties, with Labor recovering ground to post its highest primary vote since April and levelling the political playing

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Morrison scatters the China roaches. Now what?

Via Paul Kelly: The new law will give the Foreign Minister discretion similar to that enjoyed by the Treasurer on foreign investment decisions. In relation to agreements between Australian states and other governments, Foreign Minister approval will be required at two points — before negotiations begin and when the agreement is finalised. The minister can

39

CBA to begin “encouraged” property sales

Via the AFR: Commonwealth Bank says its most over-leveraged borrowers – those whose prospects for returning to work after the coronavirus look the bleakest – could be encouraged to downsize the family home or sell multiple investment properties. Angus Sullivan, head of CBA’s retail bank, reassured all struggling borrowers that it won’t move too quickly

48

Master Parasites: Let first home buyers raid their super

Master Builders Chief Executive Denita Wawn is pushing to allow first home buyers (FHB) early access to up to $50,000 of their superannuation funds to build or purchase their first homes, alongside a $5 billion construction stimulus in the October budget: Ms Wawn said Mr Frydenberg should allow compulsory super to be used “to help

50

Virus psychos yell into echo chamber

This is editorialism run wild at the AFR: The reality dawning on doctors that hundreds more cancer and chronic disease sufferers will probably die as a result of Melbourne’s stage four lockdown scaring people from taking medical tests could prove to be a tipping point to scrutinise the trade-offs of the policy responses to COVID-19.

35

Beijing empties wine spittoon all over Morrison Doctrine

Let’s rewind a week or so to AUSMIN: Australia and the US have established a top-secret defence co-operation framework to counter Chinese military aggression, and put Darwin at the centre of future military plans with a new strategic fuel reserve for the city. The classified defence framework, agreed at high-level talks in Washington, creates a

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Why Trump will win again

Via Thomas Greene at Medium: The Bronx of my childhood was a paradise. My street ran parallel to a section of the old Croton Aqueduct, by then long disused, which we kids called the Ackey. Along its banks grew trees and bushes and wild flowers forming a ribbon of thicket in which we played, and

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Roll up for non-existent vaccine that might kill you, free!

Via News: Prime Minister Scott Morrison says he intends to make a COVID-19 vaccine “as mandatory as possible” for all Australians once it becomes available. News.com.au revealed today that the Morrison Government has confirmed a landmark agreement with drug giant AstraZeneca to manufacture one of the world’s most promising coronavirus vaccines currently being developed by