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Melbourne property prices hit new high

Melbourne property values were hardest hit by the COVID-19 downturn. According to CoreLogic’s daily dwelling values index, Melbourne property values declined 5.9% between mid-March and 18 October 2020, but have since rebounded strongly, gaining 6.7% since then (see next chart). As at Sunday 28 March 2021, Melbourne’s dwelling value index was 158.66, which is 30


Bernie Sanders chases higher wages

Via The Guardian: Leftwing senator tells Guardian the chances of raising the federal minimum are better than ever with new president in White House Senator Bernie Sanders says the widespread suffering caused by the pandemic-induced economic crisis has made it “morally imperative” to increase the US’s minimum wage to $15 an hour. And in an


Scrap superannuation for a universal basic pension

National Seniors Australia (NSA) has called on the federal government to implement a universal pension scheme that isn’t means tested: National Seniors Australia chief advocate Ian Henschke wants a universal pension scheme that isn’t means tested. “Review after review complains about older people failing to spend down their capital; they don’t blame the system, they


Australia’s COVID derangement syndrome intensifies

Earlier this month I claimed Australia had caught “COVID derangement syndrome” after multiple states and territories abruptly closed their borders to Brisbane and imposed draconian isolation requirements after only one local COVID-19 case was recorded, in turn plunging the travel plans of thousands into disarray: These knee jerk lockdowns make a mockery of the change


Australia exposes China’s Davos drivel

From Albo last week: ALBANESE: I wrote to the Prime Minister last week suggesting that he engage with former Prime Ministers Rudd and Howard, both of whom have significant relationships with China and as well, of course, Kevin Rudd has significant relationships with the incoming Biden Administration as well. It’s very clear that when Australian jobs


Bidencare to lift US worker living standards

Via Goldman: We assess the macroeconomic implications of President-elect Biden’s campaign proposal to modify and expand the Affordable Care Act (ACA), which we believe has a good chance of enactment through the reconciliation process. Because many of the effects of the original ACA would likely recur on a smaller scale, we review the research literature


Dan Andrews backflips on international students return

With thousands of Victorians stranded interstate and abroad amid border closures, and Victoria’s overseas arrivals capped at a measly 160 a day, the Victorian Government last week hatched the idiotic plan to bring thousands of international students into the state to be housed in student accommodation: On Friday, a spokeswoman for the premier, Daniel Andrews,


Aussie property looks cheap compared to New Zealand

The housing affordability situation in New Zealand has gone from bad to worse, with new data released by the RBNZ showing that the value of New Zealand’s housing stock hit $1.28 trillion in the September 2020 quarter, up 10.7% year on year. When compared against the size of the economy – currently $321 billion –


Gotti advises Xi on how to occupy Australia

Via Gottiboff: First, Australia needs to recognise that it is not all China’s fault. In past years we have behaved badly and contributed to the current situation. At the same time China is now a different country and is ruled by a strongarmed dictator plus the Communist Party. Not surprisingly “The Art of War” offers


Morrison Government has failed stranded Australians

Pressure is building on the Morrison Government to rescue tens-of-thousands of Australians stranded abroad and unable to come home due to strict quarantine caps and limited (as well as costly) flight availability. The situation worsened after Emirates suspended all flights from Dubai to Sydney, Melbourne and Brisbane owing to National Cabinet’s decision to reduce hotel


India rises for Australia

God help me, I agree with Innes Willox for once: A leader of a powerful business group has called for a better alignment of the nat­ion’s economic and strategic interests, urging Australian companies to resist bullying from China and for diplomats to get “their hands dirty’’ by helping to find alternative export markets. Australian Industry


Suddenly irresponsible mortgage lending is a problem!

Freedom of Information (FOI) documents released on Friday by the Reserve Bank of Australia (RBA) reveals that it saw risks in its decision to cut the cash rate to 0.10%, alongside introducing the Term Funding Facility (TFF) for banks and buying government bonds. In particular, the RBA noted that “a permanent (temporary) 100 basis point


ScoMo’s dodgy vaccine doesn’t stop virus spread

As we know, ScoMo’s vaccine choice is a little bit dodgy: Goodness. The Director of Government Affairs at Scott Morrison’s suddenly favourite new drug company AstraZeneca is former federal govt lobbyist Kieran Schneemann. He’s also a former Chief of Staff in the Liberal party. Not that there’s anything wrong with that at all. ▫️ pic.twitter.com/wRIIj4IDIj


Fake Greens demand crushed wages, ruined environment

For 15 years, Australia’s left stood by silently or cheered while Australia’s immigration program was more than doubled: This mass immigration experiment was an unmitigated disaster for Australia’s working class – crushing their wages, pushing up their cost of living, and degrading their quality of life. However, it was a boon for the wealthy owners


Treasonous ABC should be shut

More treasonous coverage of the Chinese attack on Australia today at the ABC. First up, we get the whinging beef lobby: China’s ban on beef imports from several Australian abattoirs has cost the industry hundreds of millions of dollars while eight meatworks wait to resume trade. Last year, exports of red meat to China were


Beijing’s final gift: No more students

This is the big one. Via The Australian: In 2019, universities earned more than $7bn in student fees from China, and they fear that if Australia-China relations continue to deteriorate this revenue could be lost permanently. There would also be major losses to the broader economy if Chinese students do not return. In the 2018-19