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Uhlmann: Straya a China pussy

Via Chris Uhlmann comes a rare voice of sanity: What is it that terrifies the people of Hong Kong about the Chinese Communist Party that eludes so many pliant Australian academics, business leaders and ex-politicians? In the same breath, some local cognoscenti lament the Australian government’s weakness in barely mentioning the troubles in the Chinese


Universities waste international student billions on administration

Earlier this month, Auditor-Generals from Australia’s three largest states warned that Australia’s universities have become dangerously reliant on fees from international students, which have ballooned on the back of the massive rise in international student numbers, as shown below: As you can see, the number of international students studying in Australia has nearly doubled to


China fires up the housing bubble

Trade war? No problem. Housing bubble is the answer. Monthly house price data for May had new house prices up an accelerating 0.7% and 10.7% year on year: The breadth is now nearly complete with 68 of 70 markets rising: Including some formerly constrained first tier markets: The raw data: Expect this to continue because,


Australian dollar hits new lows as RBA minutes lets doves fly

Via the Lunatic just now: International Economic Conditions Members commenced their discussion by noting that the data on the global economy released since the previous meeting had been mixed. GDP growth outcomes for the March quarter in some economies had been slightly stronger than the second half of 2018, while labour markets had remained tight.


ScoMo takes huge dump with “tiny homes” push

Nothing makes my blood boil more than “tiny homes”. Whether it is the buyers or sellers of the sardine cans, acceptance of their existence represents a gigantic failure of the Australian political economy. Those Millennials that Domain so loves to quote as they gasp out a few words from diaphragms crushed between kitchen cabinet and bed,


Is Bitcoin back?

Bitcoin is back: I won’t even pretend that this is sustainable. Nothing has changed for crypto in my book. It is as worthless and useless as ever. With the same inbuilt contradiction: that if it succeeds it can only fail, given it’s only purpose is subvert a fiat currency system that it does not control.


Australia’s skilled migrant visa sham

Australian employer groups frequently claim that a strong ‘skilled’ migration program is required to overcome perceived labour shortages – a view that is shared by Australia’s state and federal governments. However, the available data does not support their assertions. First, while Australia’s is said to run a ‘skilled’ migration program, the Productivity Commission’s (PC) 2016


It pays to be a crooked developer in Melbourne

By Leith van Onselen In September 2016, Developers Raman Shaqiri and Stefce Kutlesovski illegally demolished the two-story 1859 Corkman Irish Hotel in inner-city Carlton. The building was under heritage protection, and yet these cowboy developers bulldozed the hotel under the cover of darkness without planning permission. Last year, the same developers pleaded guilty to dumping asbestos


International students ground zero of gig economy wage crush

By Leith van Onselen Another report has emerged warning that Australia’s migrant slave economy is putting downward pressure on wages: Wages and working conditions could take a hit if ‘gig economy’ jobs such as takeaway delivery continue to expand, researchers of a new study have warned. In 2017 the researchers spoke to 58 Uber Eats


Labor screwed as ScoMo occupies immigration centre

I have underestimated Mr ScoMo, via Domain: In his first interview since being elevated to cabinet, the Minister for Population, Alan Tudge, said immigration had played a key part in the May 18 federal election result – with outer suburban areas in Melbourne, Sydney and Brisbane backing the Coalition to deliver fewer migrants and increased


Attacks on Chinese international students put entire industry at risk

Earlier this week, the Herald-Sun reported that gangs have been targetting Chinese international students near Monash University, with 13 separate violent attacks at knifepoint reported over the past 18 days. The assaults have prompted Federal Education Minister, Dan Tehan, to ask his Department to examine ways to ensure student safety in order to protect Australia’s


AFP raids journo after Chinese spy expose

Via Herald Sun: Federal police officers are raiding the home of News Corp Australia journalist Annika Smethurst over a story about a secret government plan to spy on Australians. …“The matter relates to an investigation into the alleged unauthorised disclosure of national security information that was referred to the AFP. “Police will allege the unauthorised


Wolf: US and China entering 100 year war

Via Martin Wolf at the FT: Across-the-board rivalry with China is becoming an organising principle of US economic, foreign and security policies. …A framing of relations with China as one of zero-sum conflict is emerging. Recent remarks by Kiron Skinner, the US state department’s policy planning director (a job once held by cold war strategist


ANZ passes on 18bps of rate cut, CBA and NAB 25bps, WBC 20bps

ANZ has held onto 7 basis points from today’s 0.25% rate cut by the RBA: “In making this decision we have weighed up a number of factors, such as business performance, market conditions and the impact on our customers, including our depositors. “While we recognise some home loan customers will be disappointed, in making this