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Gas will kill this winter

Via The Australian today: Craig Kelly has doubled down on his comments suggesting renewable energy will cause deaths this winter, saying dozens more people could die if power prices aren’t brought down. Mr Kelly, whose claims were described as “ridiculous” by some of his backbench colleagues, said the cost of electricity is the “number one issue”

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Thousands of high-rise apartments at risk of towering inferno

By Leith van Onselen The extent that Australia’s high-rise apartments are exposed to combustible cladding similar to that which engulfed London’s Grenfell, killing more than 50 people, is beginning to come to light. Yesterday, the second day of the Senate’s inquiry heard that thousands of apartments in Sydney and Melbourne are potentially at risk. From

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Why property is such a compelling investment in an SMSF

There is sometimes confusion about the returns available on property in a self-managed super fund (SMSF) – especially as the mathematics starts to get confusing with relative rates of return, real vs nominal and opportunity cost vs risk, before tax and after tax returns. But I have a much easier way to explain why it

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Western Sydney to bear brunt of property downturn

By Leith van Onselen ABC Lateline last night ran an interesting segment on the Western Sydney housing market, which is the most vulnerable to a correction. The segment profiles a new housing estate 50 kilometres north-west of the city, called the Hills of Carmel, whereby a typical house and land packages are on sale for

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Labor to push for an inheritance tax?

By Leith van Onselen The Australian Labor Party’s national conference will be held in late July, and it is rumoured that the left faction is seeking the re-implementation of an inheritance tax. From The Australian: Several left-aligned branches support the introduction of a national­ inheritance tax to address­ the growing divide between rich and poor:

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Population ponzi overruns ambulances, surgery, hospitals…

By Leith van Onselen Last October, The Age ran a detailed report on how Melbourne’s hospitals are being overrun by the ongoing population influx caused by Australia’s mass immigration program: …leaked data indicates there has been no improvement in ambulance “ramping” and that this month hundreds of patients waited longer than an hour to get

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APRA hikes bank capital

As expected: This Information Paper sets out the Australian Prudential Regulation Authority’s (APRA’s) conclusions with respect to the quantum of additional capital that might reasonably be expected to be required for the Australian banking sector to have capital ratios that are considered ‘unquestionably strong’. Reflecting the social and economic cost of the global financial crisis,

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Leith van Onselen headlines News.com on population ponzi

Another stellar effort from LVO yesterday at News.com: IT’S the debate we were never allowed to have. Until relatively recently, Australia’s population grew at a stately pace. There was an influx of European immigration in the mid-1940s, and pause from the mid-1970s, but in the 100 years after Federation in 1901, net overseas migration averaged

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A ‘Big Australia’ means cripplingly expensive infrastructure projects

By Leith van Onselen I have noted previously that one of the key reasons why Australia’s high population growth (immigration) is lowering the living standards of existing residents is because of the strain that it places on infrastructure, which inevitably leads to more congestion on roads, public transport, as well as more expensive housing. Basic

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Oligarchs bicker over Australian plunder

The AFR has a nice story today illustrating the death of Australia: The Turnbull government’s strained relationship with corporate Australia has come under more duress following some heated exchanges between the Prime Minister and the nation’s leading chief executives at a private dinner in Sydney on Monday night. …The dinner was attended by board members

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Australia’s household debt quagmire

By Martin North, cross-posted from the Digital Finance Analytics Blog: We know that household debt has never been higher in Australia, but I do not think the true impact of this, especially in a rising interest, low income growth environment is truly understood.  We have to look beyond mortgage debt. The latest RBA E2 –

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Greens disaster: Another senator resigns over dual citizenship

Immigration and globalism is suddenly killing the Greens: The Greens have lost their second co-deputy leader in less than a week, with Queensland senator Larissa Waters announcing her resignation as a result of holding dual citizenship. At a press conference in Brisbane, an emotional Senator Waters apologised to the Australian people saying she had discovered

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SMH readers tell Jessica Irvine’s Big Australia where to go

By Leith van Onselen Jessica Irvine’s latest spruik “Why I love a Big Australia, and you should too” (debunked earlier today), has been given short-thrift by SMH readers. Not only did most of the 200-plus comments disagree with Irvine’s position, but today’s Letters to the Editor have been overwhelmingly hostile: It’s disappointing that Jessica Irvine

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Why aren’t the unions at war with the great immigration scam?

Yesterday Domainfax reported: Four out of five businesses advertising Australian jobs on Chinese, Korean and Spanish language websites are offering illegal pay rates as low as $4.20 per hour, a new audit has found. Two separate audits conducted this year and last year found 78 per cent of 200 job advertisements examined were offering pay rates below minimum award rates.

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The Business does the Australian property “powder keg”

By Leith van Onselen In the wake of Deloitte Access Economics’ report yesterday claiming that the RBA sitting on housing “powder keg”, ABC’s The Business last night ran a segment examining the issue, featuring SQM Research’s Louis Christopher and the REA Group’s chief economist, Nerida Conisbee. As expected, Ms Conisbee played down the prospects of

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Another day, another doomsday poll for Malcolm

Via The Guardian: Australian voters are resoundingly sick of their bitterly polarised politics and a sizeable group says they would consider voting for a new centrist political party, according to the latest Guardian Essential poll. The new survey of 1,830 voters found 71% agreement with the statement “I wish both sides of politics would try to

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Ironically, Perth’s housing bubble is getting larger

By Leith van Onselen LF Economics has released a new report, entitled “An Illustrated Guide to the Latest Trends in the Perth Housing Market”,  which reveals a sinking market, yet ironically the ‘bubble’ is getting larger because rents are falling faster than prices. Below are some key extracts: The Perth housing market looks to have

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More exploitation of foreign workers uncovered

By Leith van Onselen Ever since the 7-Eleven migrant worker scandal broke in 2015, there has been a regular flow of stories emerging about the systemic abuse of Australia’s various migrant worker programs. The issue was highlighted in all of its hideous glory when the Senate Education and Employment References Committee released a scathing report

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Terry McCrann: Mass immigration is not working for Australia

By Leith van Onselen The Australian’s business columnist, Terry McCrann, is the latest high profile figure to question the efficacy of Australia’s turbo-charged immigration program, penning the following over the weekend after recently returning from a holiday in Japan: In Japan ‘‘things’’ worked and worked well. Drawing on the old saying, in Japan the trains

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The truth behind electricity price increases

By Leith van Onselen The Australian Institute (TAI) has released a great paper by renowned energy analyst Dr Hugh Saddler, entitled National Energy Emissions Audit – Electricity Update, which reveals a strong correlation between domestic electricity prices and gas prices, despite gas making up only 10% of electricity generation. Below are the key extracts from