Politics – Page 5 – Digital Finance Analytics (DFA) Blog

Opening The Housing Affordability Can Of Worms….

This is a show about housing affordability and specifically lobbying from certain banks to reduce mortgage lending buffers in which we look at evidence provided to the Senate Economics Reference Committee inquiry into the Financial Regulatory Framework And Home Ownership which was chaired by NSW Senator Andrew Bragg, with Jess Walsh the ALP Senator for Victoria and Greens Senator for South Australia.Barbara Pocock.

We look at key evidence from Chris Taylor of the Australian Banking Association, Martin Green and Paul Deall from Westpac, Andy Kerr and Ben Nicholls from National Australia Bank and from the Commonwealth Bank Angus Sullivan and Kylie Rickson.

We also look at compelling evidence from Consumer Advocates including Nadia Harrison from Mortgage Stress Victoria, Erin Turner from The Consumer Policy Research Centre, Dr Domenique Meyrick from Financial Counselling Australia and Julia Davis from the Financial Rights Legal Centre.

David Locke, June Smith and Natilee Cameron from AFCA, the Ombudsman, and APRA (Therese McCarthy Hocky, Dr Sean Carmody, Chris Gower and Marian Kohler) made the case that credit is flowing and available.

The inquiry also heard from Kylie Davis Proptech Association of Australia and Lynda Coker, Frank Austin and Liz Rochaix Co-operty.

Alexander Hordern Insurance Council Australia and Pauline Blight -Johnston Helia discussed LMI

And finally, Professor John Quiglan, Saul Eslake and Ben Spics-Butcher each in their individual private capacity argued that decades of evidence in supply constrained environments shows people spend more on housing driving prices higher rather than expanding ownership rates (which is why using super for housing is a bad idea.

The Greens focused in on investor demand, while Ben argued the Government was really concerned about property price falls, as shown through the GFC. Tenure security, and a rise in public housing are most important, shared equity and housing future fund does not help.

All up, it revealed how complex the can of works is, and that simply increasing leaning of offering other incentives is counter productive!

http://www.martinnorth.com/

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Inflation Fears Still Haunt (Especially Australia)…

The Washington-based IMF just published In its biannual world economic outlook, which said that central banks had scored a major achievement to return inflation to the pre-pandemic average without inflicting a global recession.

They go one to say that economic developments over the past four years have had a lot to do with how individual countries have deployed fiscal and monetary policies since the pandemic.

Australia’s choice to hold rates lower, whilst lifting government debt (across states and federally) with most new jobs created in the public sector, thus crimping productivity. This plus high migration has kept inflation well above band, and with little prospect of cuts any time soon, but so far have avoided a technical recession, although many households still are feeling the pinch.

New Zealand lifted rate faster and higher, and hit a recession, but is now cutting, has cut migration, and did not pump-up jobs in the public sector as Australia did. It will be interesting to see which strategy provides the better long-term outcomes.

But for now, the fear of entrenched inflation and higher interest rates for longer suggests that the inflation battle in Australia has yet to be won. And with an election due by May next year, this could well spell trouble for the current Government, though I am not sure the other mob are any better!

http://www.martinnorth.com/

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DFA Live Q&A HD Replay: Can Property “Save” The Australian Economy? With Leith van Onselen

This is an edited version of a live discussion with Chief Economist at Nucleus Wealth, Leith van Onselen, who is also the co-founder of Macrobusiness. Given the raft of property related announceables from the politicians, will it make any difference, or are we set for a slow-down, or worse?

Original stream with live chat here: https://youtube.com/live/zRxdM8_o8JE

http://www.martinnorth.com/

Go to the Walk The World Universe at https://walktheworld.com.au/

https://digitalfinanceanalytics.com/blog/dfa-one-to-one/ for our One to One Service.

There Is NO BASIS For This “MAD” Legislation!

This is an edited version of a post John Adams and I made on In The Interests Of The People, doing a deep dive into the arguments around the proposed Combatting Misinformation and Disinformation) Bill 2024 which on the 19 September 2024, the Senate referred to the Environment and Communications Legislation Committee for report by 25 November 2024.

You have JUST ONE Day! as submissions close on the 30 September 2024.

This bill would severely curtain unfettered free speech by putting onerous responsibilities on social media platforms across issues as wide as electoral, health, social and economic. In practice the Government will define “truth” and will essential silence alternative voices.

You have a limited opportunity to make your views know before 1984 type conditions arrive!

IOTP Edition here: https://youtu.be/R-m0ZITOVhQ

https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Environment_and_Communications/MisandDisinfobill

Contact details:

Committee Secretary
Senate Standing Committees on Environment and Communications
PO Box 6100
Parliament House
Canberra ACT 2600

Phone: +61 2 6277 3526
ec.sen@aph.gov.au

https://citizensparty.org.au/media-releases/say-no-albaneses-orwellian-disapproved-information-censorship-bill

About this inquiry: The bill proposes to amend the Broadcasting Services Act 1992 and would make consequential amendments to other Acts to establish a new framework to safeguard against serious harms caused by misinformation or disinformation.

The bill would provide the Australian Communications and Media Authority (ACMA) with new regulatory powers to require digital communications platform providers to take steps to manage the risk that misinformation and disinformation on digital communications platforms poses in Australia. These would include obligations on providers to assess and report on risks relating to misinformation and disinformation, to publish their policy in relation to managing misinformation and disinformation, and develop and publish a media literacy plan.

The bill would also provide ACMA with new information gathering, record keeping, code registration and standard making powers to oversee digital communications platform providers.

http://www.martinnorth.com/

Go to the Walk The World Universe at https://walktheworld.com.au/