"Intelligent Insight"
My latest chat with our Property Insider, Edwin Almeida. As listings rise, what is it doing to the market, and are people still looking at QLD as a safe harbour? And whats the story with high-rise?
https://www.ribbonproperty.com.au/
Go to the Walk The World Universe at https://walktheworld.com.au/
In today’s show we look at the latest property price forecast from some of the major banks, which signal potential easing momentum ahead, plus we look at the issue of reduced housing affordability with the prospect of higher mortgage rates. And the big unknown is how APRA and RBA will tune their macro-prudential measures ahead. And is negative gearing still under threat?
The latest edition of our finance and property news digest with a distinctively Australian flavour.
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.
We need to think ahead as to how Digital Identity, Central Bank Digital Currency and Programmable Money will interact, and ask the all-important question are we comfortable with these developments. Who is in control, and to what extent will we really be able to opt out?
CONTENTS
0:00 Start
00:15 Introduction
01:05 Should A CBDC Be Programmable?
03:55 We Already Have Directed Spending
05:09 BasicsCard and Cashless Debit Card
08:22 Tracking Transactions and Directing Payments
09:00 Digital Euro
09:45 Digital US Dollar
10:45 The Bitcoin Proxy
11:10 China CBDC Pilot and Social Score
19:10 Current Digital Identity Consultation
21:58 Current Issues
22:45 27th October Deadline
23:00 Summary and Conclusions
As I reported earlier in the week a Senate inquiry has recommended that Treasury should lead a policy review of the viability of a retail central bank digital currency in Australia. This is something the Reserve Bank of Australia has been reluctant to entertain given it could increase the likelihood of a run on commercial bank deposits in a crisis. In fact, the RBA has been focussing on Commercial orientated CBDC pilots. But the Senate committee has asked Treasury to study the case for creating a retail ‘central bank digital currency’ to compete with private currencies being created by tech companies.
But what are we really getting into here? Well, back in June The Bank of England called on ministers to decide whether a central bank digital currency should be “programmable”, ultimately giving the issuer control over how it is spent by the recipient.
I suspect many will be totally unaware of Australian Digital Identity Programme and the current inquiry which is running. You have until 27th October to make a submission.
But my point is, say the Government gave you an account at the Reserve Bank, for digital currency, but to access it you needed a Digital ID, and the funds were programmable. Not only would spending be tracked, but certain types of transactions could be encouraged or restricted. Combined the Governments tentacles of control would be extended, and our liberties further eroded.
My worry is that we may be heading for an Aldous Huxley’s, Brave New World which will be controlled by the central planners. Even as we speak, the components are being strung together. So time to have your say.
https://www.digitalidentity.gov.au/
Go to the Walk The World Universe at https://walktheworld.com.au/
In today’s show we look at the market action this week, as the tensions between strong if patchy corporate results, on one hand, while inflation risks and contagion risks from the China property sector are pulling the other way.
China Evergrande Group pulled back from the brink of default by paying a bond coupon before Saturday’s deadline, giving the property giant at least another week to come to grips with a debt crisis that has rattled investor confidence in the world’s second-largest economy.
But Investors are increasingly concerned higher cost pressures and global supply-chain bottlenecks will push the Fed to raise interest rates faster than expected. Yet a relatively solid start to the earnings season offset those fears with the benchmark S&P 500 topping a record on Thursday.
Then US equities fell on Friday in New York after the chairman of the Federal Reserve signalled some concern about inflation.
The latest edition of our finance and property news digest with a distinctively Australian flavour.
CONTENTS
0:00 Start
00:19 Introduction
01:15 US Markets
02:05 Powell Time To Taper…
03:05 Snap and Tech falls
04:30 GDP Falling
07:00 Inflation Expectations
08:00 Yields
08:45 Financials Up
10:00 Crude prices and supply
10:55 Europe
12:20 Evergrande Update
19:20 Asian Markets
19:50 Australian Markets
20:20 RBA Vs Markets
22:34 Market movements
25:13 Bitcoin, ATMs, Futures,
28:30 Summary and Close
Go to the Walk The World Universe at https://walktheworld.com.au/
In today’s show we look at the just released annual report from the RBA, with a surprising change in accounting to avoid a capital call, plus calls for a review of the RBA, and we touch on the question of whether rising rates will drive home prices lower. And we hear about the RBA’s view of the relationship between Government and the RBA.
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.
Leith van Onselen writes for MacroBusiness as the Unconventional Economist. Leith has previously worked as an economist at the Australian Treasury, Victorian Treasury and Goldman Sachs. He has a strong background in economic policy and financial sector regulation. Leith holds a Bachelor of Commerce (Honours) degree from Melbourne University and a Graduate Diploma of Applied Finance and Investment from the Securities Institute of Australia (now FINSIA).. Leith can also be found on twitter: twitter.com/leithvo.
https://www.macrobusiness.com.au/
Go to the Walk The World Universe at https://walktheworld.com.au/
Evergrande shares plunged on Thursday after saying it scrapped talks to offload a stake in its property-management arm and that real estate sales slumped during a peak home-buying season, worsening its liquidity crisis.
China Evergrande Group scrapped talks to offload a stake in its property-management arm and said real estate sales plunged about 97% during peak home-buying season, worsening its liquidity crisis on the eve of a dollar-bond deadline that could tip the company into default.
The latest edition of our finance and property news digest with a distinctively Australian flavour.
Go to the Walk The World Universe at https://walktheworld.com.au/
Those following this channel will know I am a believer in the future disruption of the financial system thanks to the emerging digital landscape, which is powered by the blockchain, and of which Bitcoin is merely the first faltering steps on the journey to a decentralised financial system, which may ultimately remove the need for banks, and perhaps even central banks. Yet I also highlight the risks in the system right now, it is the wild west, to quote the head of the SEC.
On that journey, Australia’s cryptocurrency industry needs a robust policy and regulatory framework if the country wants to compete with other global financial hubs that are targeting one of the fastest growing areas of finance. Such a framework is needed to protect consumers, promote investment, facilitate enhanced market competition and provide a structure where innovation can thrive, the Senate Select Committee on Australia as a Technology and Financial Centre said in a draft 150-page report Australia as a Technology and Financial Centre (ATFC) which has just been released.
The latest edition of our finance and property news digest with a distinctively Australian flavour.
Go to the Walk The World Universe at https://walktheworld.com.au/
Today we look at the latest from New Zealand which is we think a likely leading indicator of what is ahead more widely.
ANZ New Zealand just released a report called More work for the OCR to do. They say, “we have changed our OCR call, adding in 25bp hikes in the April and July Monetary Policy Reviews, in addition to the hikes we were already forecasting at the next four MPSs. This new track sees the OCR reach 2% in August 2022”.
The latest edition of our finance and property news digest with a distinctively Australian flavour.
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.
In today’s show we look at the inflation debate again, as Central Banks are still talking up the transitory nature of the inflation in the supply chain, and believe it will fall sometime. In this environment, one way for monetary policy makers to thread the needle is to use hawkish rhetoric -– to keep a lid on inflation expectations — while holding back on the actual interest-rate increases that would slow the recovery.
The latest edition of our finance and property news digest with a distinctively Australian flavour.
Go to the Walk The World Universe at https://walktheworld.com.au/