Latest posts

85

Morrison Government vaccine rollout all but collapses

God, what a schmozzle. After PM Morrison yesterday reassured Australians that there was no reason to suspend the Astra Zeneca vaccine, the Australian Technical Advisory Group on Immunisation (ATAGI) has come down with recommendations of the complete opposite: 4-6 people per million will suffer thrombosis triggered by the AZ vaccine. ATAGI has recommended that the

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Links 9 April 2021

Global Macro / Markets / Investing: IMF raises world economic growth forecast, says way out of crisis ‘increasingly visible’ – RT Janet Yellen says this week’s IMF and World Bank meetings will be a ‘Bretton Woods’ moment – Fortune Dollar to its lowest level in two weeks as US bond yields fall – Guardian Mag

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Macro Afternoon: 8 April 2021

Prime Minister letting us know that vaccine his government has been lining up for nation should probably not be given to those under 50 Aussie Scholar   ASX 200   Gold   Hang Seng   S&P 500   Brent Crude   Nikkei   Footsie   AstraZeneca vaccine blood clot incidents spark Pfizer recommendation for under

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Property for sale inventory crunched again

SQM Research has released its Stock on Market data for March, which has recorded a heavy 16.7% year-on-year decline in the number of listings, with every market except Melbourne recording falls: The decline in total listings came despite a solid 10.7% year-on-year increase in new listings (i.e. advertised for less than 30 days): According to

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What are the Biden tax proposals?

Goldman has a crack: The Treasury has released a new more detailed description of its corporate tax proposals. They are in line with the outline from the White House last week, but include a few new details related to the treatment of foreign income and the minimum tax on book income. Overall, Treasury estimates the

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The only way is DOWN for commodity prices

I do enjoy a good stink with a commodity supercycle fanboi. Today’s example is Tom Stevenson at Fidelity International who writes under the title “the only way is up for commodity prices” that: Inflation is everywhere and always a fiscal phenomenon. The Biden administration has embarked on a war against inequality and this will be

4

Australia’s retail boom sputters

Via Westpac credit card tracker: ― The Westpac Card Tracker Index fell 4.1pts to 98.8 over the week ended Apr 4 – the first sub-100 national read in just over six months. While this adds to accumulating evidence of a moderation in consumer demand, the latest figures should be treated with extra caution due to

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Morrison Government orders safety review of its only vaccine

Thanks to Morrison Government procurement policy, Australia finds itself overly reliant upon the Astra Zeneca vaccine which has had both supply and health issues. Now, after the UK banned the use of the Astra Zeneca vaccine for under-30s, Australia’s entire vaccine strategy is at risk. At News: The Australian Technical Advisory Group on Immunisation (ATAGI)

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It’s offical: Australia sets course for China divorce

Precisely as forecast at MB, China’s trade war on Australia is really upon itself. Commodities are fungible and will always be shipped no matter what China does. It can preference its suppliers but cannot withdraw its demand from global markets so we will fill the supply gaps created by it shifting procurement elsewhere. New charts

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Why paying workers higher wages improves productivity

For years we have questioned Australian businesses’ extreme reliance on cheap, exploitable migrant workers, explaining that it has contributed to the nation’s chronically low wage growth, in addition to stifling our productivity by discouraging firms from adopting labour-saving technologies and automation. Without easy access to low-paid migrants, firms would be forced to lift wages to

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Links 8 April 2021

Global Macro / Markets / Investing: Collect Taxes More Effectively to Avoid ‘Debt Trap’ Chaos, Warns IMF – More Effective Please, no more questions about how we are going to pay off the COVID debt – The Conversation IMF upgrades forecast for 2021 global growth to a record 6% – AP News Sanctions are destroying

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Which model of financial adviser fees is right for me?

The question of financial adviser fees and the method charged has long been deliberated over, both internally in the industry, and from a client perspective. Like many professional services, the immediate ‘return on investment’ from financial advice can be challenging to quantify and validate. But having a good understanding of how you are charged can

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Eslake: Mass immigration collapse to drive wages growth

God bless COVID-19. After years of battling a kind of corporate wokism that was designed to destroy Australian wages via immigration (cheered on by an idiot fake left) the reality of life without mass immigration is forcing everybody to shift. Saul Eslake was certainly far from the worst on these topics over the years, mostly

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Household mortgage stress still very high

Courtesy of Martin North: The latest results from our household surveys confirms that there are more households in financial stress than before the pandemic hit. As the various Government support mechanisms are ratcheted back, we will see the true impact on the community. Household debt is also turning higher again. We have 41.1% of mortgaged

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Labor to roll out community batteries

Readers will know that the MB view of the uptake of battery power to supplant traditional baseload output reliant on fossil fuels is inevitable.  Now, Labor has seen the light with an actual policy from Albo today: Labor will spend $200m on community batteries. Each is about the size of a four-wheel drive. They will be

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US travel continues resurgence

This is what happens when you have a competent government. Vaccines unleash pent-up demand. The US is entering a rude travel boom. Mobility is surging: Credit card spending on travel is surging: Boosted by stimulus: TSA numbers are climbing fast: My base case is that US travel overshoots this year and next as family, recreational