Australia is the last redoubt of the globalists. All we do is fret over other people’s problems while our living standards and values are slaughtered. This is not coincidental. It is the evolution of a system of mind control, many years in the making, much worse in Australia than anywhere else I can think of.
No bad surprises were contained within the US CPI print released overnight although the core inflation figures continue to lift higher, it still gave most market respondents and sycophants alike the opportunity to push for a September rate cut from the US Federal Reserve which has sent Wall Street flying higher and pushed the USD
DXY fell last night. AUD bounced but it’s not exactly tearing the roof off. Lead boots are stuck fast. Gold was disappointed. Base metals are king dollar playthings. Big miners are having another crack at the big bear. EM at the highs. Junk breaking out. Bullish. Yields muted after US CPI. Stocks certain of Fed
The Albanese government’s National Housing Accord target of building 1.2 million homes over five years was always a delusional pipe dream detached from reality. The record single year for Australian dwelling completions was around 223,500 in 2017, when the nation was building huge volumes of defective high-rise apartments. However, economic conditions were far more favourable
Asian share markets are seeing a strong bid led by Japanese markets as they return from their long weekend with traders all waiting in anticipation of tonight’s US CPI print that is now becoming as important as the jobs print on the economic calendar. Not much movement in currency-land with the RBA cutting rates 25bps
As expected, the Reserve Bank of Australia (RBA) cut the official cash rate by 0.25% to 3.60%. The decision was unanimous among board members. In its media release accompanying its decision, the RBA noted that “inflation has continued to moderate”, down “substantially since the peak in 2022”. It also signalled further “gradual” rate cuts ahead.
Economist Ross Gittins from the SMH has pilloried the Productivity Commission’s (PC) proposal to cut Australia’s company tax rate to 20% for all but the largest 500 firms with annual turnovers of $1 billion, alongside introducing a 5% tax on the annual net cash flow of all companies. The two sets of general equilibrium models
The mind control underway in the Australian government today is something to behold. I have repeatedly drawn attention to the RBA’s systematic erasure of the word “immigration,” which has completely trashed its credibility because it can’t forecast anything accurately if it does not make reference to the number one input into Australian macro. Now, the
The Market Ear on the great AI inflation. “Lagom” – not too hot, not too cold Here’s the must-see flow & positioning data from the weekend — a continuation of the “Lagom” theme: not too hot, not too cold. Continued hedge funds de-risking and strange record Russell shorts meets continued systematic and retail buying. De-grossed
Bloomberg sees an endless Chinese property crash. Developer China South City Holdings Ltd. was ordered to liquidate by Hong Kong’s High Court, making it the biggest Chinese builder by assets to be wound up since China Evergrande Group. Always hopeful, Bloomberg also sees another bottom for Chinese property. Authorities are mulling more intervention. They have been considering