"Intelligent Insight"
This is an edited version of a live discussion with Robbie Barwick from the Australian Citizens Party. In this show we will dissect the current financial system and consider how banking can be brought into line to serve the people, not profit from them.
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Join me for a live discussion with Robbie Barwick from the Australian Citizens Party. In this show we will dissect the current financial system and consider how banking can be brought into line to serve the people, not profit from them.
You can ask a question live!
Go to the Walk The World Universe at https://walktheworld.com.au/
More from our property insider Edwin Almeida, as we celebrate the Year of the Rabbit.
Are we revisit the cooling off period question in the context of property purchase.
https://www.ribbonproperty.com.au/
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RBA Governor Lowe’s term is up for review later in the year. The current review of the Australian Central Bank will report around March, so what is the likely outcome.
Bloomberg reports on economists’ views of what might happen. But the elephant in the room is that inflation has been caused by poor monetary policy over the past couple of decades. or in other words, the RBA helped create the inflation problem they are now trying to defuse.
Maybe someone outside the Martin Place bubble would be more effective in helping to take the country forward.
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The current Treasury review of Buy Now Pay Later lending highlights the contentions around the issue. Those with existing Credit Licenses of course argue that BNPL providers should also play on the same level playing field.
Many under financial stress are reaching for BNPL and some are ending up paying high effective interest rates. APRA changes also shape the game.
The sector does need proper regulation. Will the Government cave or stick?
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We look at the question of distressed listings and sales, which appear to be quite low at the moment. Some therefore argue that things in the property market are just fine.
However, apart from the question of how distressed sales are defined and identified, the truth is that some households are being given the option to sell as a normal not distressed sale. This is better for the bank, and potentially might be something which given enough equity in the property is worth considering. But it is really important to get the right independent advice first!
Bottom line is low distressed sale counts are not a signal of a buoyant market.
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Our market update for the week, starting in the US, via Europe and Asia and ending in Australia, where markets are on a tear.
Is it possible for the US and other industrialized countries to bring inflation down without triggering huge jumps in unemployment that economists would otherwise have predicted prior to the pandemic?
Well, maybe, according to new research from the Federal Reserve Bank of Chicago. The research examines the Phillips curve – a measure of the inverse relationship between inflation and unemployment – for 29 countries in the seven years before Covid-19 and the six quarters of pandemic recovery for which there is data, beginning in January 2021.
The authors found that in each country, including the US, the curve steepened, meaning that a decline in inflation is leading to a smaller increase in unemployment than it did before the public health crisis.
While the authors caution that their analysis is limited – there is only a year and a half’s worth of recovery data to examine – their conclusions bolster hopes that Fed rate hikes can curb high inflation without causing millions of Americans to lose their jobs.
If correct, that might improve the chances of seeing a unicorn-like “soft landing” for the US economy.
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Journalist Tarric Brooker and I chew over a range of audience questions in out Friday session today, from property prices and monetary policy to China demographics.
Thanks to all those who sent in questions. Tell us what you think of this format.
https://avidcom.substack.com/p/charts-from-dfa-q-and-a-january-20th
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The latest REINZ figures for December 2022 show further falls in prices and sales volumes, linked directly to the higher interest rates and reduction in borrowing power, across most of New Zealand.
https://www.reinz.co.nz/residential-property-data-gallery
Expect more falls as the RBNZ drive rates higher as they chase down inflation.
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The ABS released the latest employment figures today. Media coverage amped up the “weakness” in the numbers – but most is due to external factors such as sample changes, seasonality and high rates of illness. This was a classic case of numberwang again. http://www.martinnorth.com/ Go to the Walk The World Universe at https://walktheworld.com.au/