Digital Finance Analytics (DFA) Blog
"Intelligent Insight"
We had new data from the ABS today on employment and wages growth, the latter so far off what the RBA was projecting and to nearly be funny. But the trends are telling a very different story. Tell me again why we really need to lift inward migration?
Go to the Walk The World Universe at https://walktheworld.com.au/
What has become of our country?
We have learnt that Australia for the past two years have had a secret government behind our backs and even behind the backs of the Ministers of the Crown. Adams was beyond gobsmacked to learn that Scott Morrison had secretly appointed himself the Minister in 5 portfolios behind the backs of his ministers including the Ministry of Health; Ministry of Finance; Ministry of industry; and Ministry of Resources.
This was somehow done without the Governor-General in some cases and in other cases with the Governor-General! The Governor-General participated in a conspiracy of appointing ministers in secret without evening informing the substantive ministers or the Palace!
It is essential that Australians remember that we have a dual constitutional system: A written constitution (influence from America); and Convention (influence from Britain). Convention is an essential part of how our parliamentary system actually works.
Parliamentary practice has been developed over the course of centuries and people have literally died and gone to civil war to develop our conventions and to ensure that the rights of Parliament and the Parliamentary system remains intact.
Between the Governor-General, Morrison, Porter and some official inside the Department of the Prime Minister and Cabinet, Parliament, conventions and have been trashed.
We all know interest rates are rising, and this is having a significant impact on mortgage underwriting, and so home prices and listing are rising.
But never fear, as the Government has a plan to save the market. Because now we know Labor will use the upcoming Jobs & Skills Summit as cover to launch Australia’s biggest ever immigration program.
So in today’s show we look at what they say, and also discuss the latest negative indicators on listings and auction clearances.
Go to the Walk The World Universe at https://walktheworld.com.au/
Today’s post is brought to you by Ribbon Property Consultants. If you are buying your home in Sydney’s contentious market, you do not need to stand alone. This is the time you need to have Edwin from Ribbon Property Consultants standing along side you. Buying property, is both challenging and adversarial. The vendor has a professional on their side. Emotions run high – price discovery and price transparency are hard to find – then there is the wasted time and financial investment you make. Edwin understands your needs. So why not engage a licensed professional to stand alongside you. With RPC you know you have: experience, knowledge, and master negotiators, looking after your best interest.
Shoot Ribbon an email on info@ribbonproperty.com.au & use promo code: DFA-WTW/MARTIN to receive your 10% DISCOUNT OFFER.
This week Australia’s living God made international headlines by declaring a research project into crypto currencies.
The Digital Finance Cooperative Research Centre (DFCRC) on a research project to explore use cases for a central bank digital currency (CBDC) in Australia.
https://www.rba.gov.au/media-releases/2022/mr-22-23.html
The RBA announce coincides with the announcement by the Senate Select Committee on Australia as a Technology and Financial Centre.
Australians need to ensure that the RBA and the Federal Parliament does not impose totalitarian control through the Central Bank Digital Currency. Australia is headed down a path with little democratic consent and there is a lot of uncertainty were public policy is going in Australia.
There is a possibility that CBDCs will improve economic life in Australia, but there is also a possibility that it may not. The RBA cannot be allowed to alter economic life in Australia without a democratic mandate.
The Prime Minister and Treasurer need to explain why CBDCs are being developed in Australia and what is the public policy case.
The Australian people must ensure that physical cash is never eliminated and that freedom and privacy remains the corner stone of Australia’s payment system and economic life.
Go to the Walk The World Universe at https://walktheworld.com.au/
Thanks to Cookie Boy, we look at more price cuts on listed property across the country.
Today’s post is brought to you by Ribbon Property Consultants. If you are buying your home in Sydney’s contentious market, you do not need to stand alone. This is the time you need to have Edwin from Ribbon Property Consultants standing along side you. Buying property, is both challenging and adversarial. The vendor has a professional on their side. Emotions run high – price discovery and price transparency are hard to find – then there is the wasted time and financial investment you make. Edwin understands your needs. So why not engage a licensed professional to stand alongside you. With RPC you know you have: experience, knowledge, and master negotiators, looking after your best interest. Shoot Ribbon an email on info@ribbonproperty.com.au & use promo code: DFA-WTW/MARTIN to receive your 10% DISCOUNT OFFER.
Join us for a live discussion about the current state of property with Veronica Morgan. You can ask a question live.
Veronica Morgan is principal of Good Deeds Property Buyers and co-host of Location Location Location Australia & Relocation Relocation Australia on the Lifestyle Channel. She also co-hosts The Elephant In The Room Podcast, and First Time Buyers Academy. https://veronicamorgan.com.au/
Go to the Walk The World Universe at https://walktheworld.com.au/
I caught up with Financial Sector veteran Roger Brown to discuss the rise and fall of Australian property, and the agencies responsible for the mess we are in.
Roger sheets much of the blame on APRA, plus poor policy from the RBA and Treasury. The net effect is the disenfranchisement of younger households, and the creation of spurious “wealth”.
The truth is, many are going to find the next few years very tough, and there are risks to financial stability.
Roger is on Twitter as @bankcustomers
Go to the Walk The World Universe at https://walktheworld.com.au/
Latest from Edwin our property insider. This tip of the week today is gold. https://www.ribbonproperty.com.au/ Go to the Walk The World Universe at https://walktheworld.com.au/
I caught up with Peter Marshall from Mozo as we discussed the fall out from the RBA rate rise last week, and how it is playing out for mortgage holders and savers. Are we at another inflection point?
Peter Marshall has been working in the Australian banking and finance industry for over 20 years and oversees Mozo’s extensive product database. He is regularly sought out for his expert commentary and analysis on banking and interest rates trends by print, radio and TV media. https://mozo.com.au/
Go to the Walk The World Universe at https://walktheworld.com.au/
A deep dive into rental stress across Australia, as more households wrestle with costs of living and rising rents. There is simply not enough focus on the 2 million households struggling with meeting rental payments, as real incomes are eroded by higher inflation. Go to the Walk The World Universe at https://walktheworld.com.au/