The Market’s Twisted Hands….

The latest edition of our finance and property news digest with a distinctively Australian flavour.

In another wild week, where FED speak on one hand, and hopium on the other drove markets all over the show, the Dow ended higher on Friday as investors weighed up further hawkish remarks from Federal Reserve officials, and the latest wave of quarterly results from retailers. Looking to the shortened trading week ahead, the Fed’s minutes from its October meeting will garner investor attention for clues on the central bank’s thinking on monetary policy.

Chief Hawk, St. Louis Fed President Bullard said this week that “Thus far, the change in the monetary policy stance appears to have had only limited effects on observed inflation,” in an analysis by the St. Louis Fed that debated the appropriate rate regime for the central bank after six increases since March.

  • CONTENTS
    0:00 Introduction
    0:40 US Monetary Policy
  • 4:15 US Markets
  • 6:00 Oil
    12:22 Gold
    15:20 Europe and UK
  • 18:00 ECB Monetary Policy
  • 21:10 Asia
    25:02 Australia
  • 27:30 Crypto Winter
    28:10 Close

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The Biggest Drop In Living Standards In Many Decades…

A quick market update and a deep dive in the UK’s budget announcement, which was as political as it gets! The headline is households will go backwards, as unemployment rises, and a 2-year recession is likely. Worse, personal income tax bands are frozen, so the total tax take will be bigger than ever!

Investment allowances have been cut, and the future Government spending cuts have been pushed out beyond the next election.

The cost of debt to the Government rises.

This scenario is one we should expect to see playing out in other economies too. Living standards will drop.

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Local Communities Strangled By Loss Of In-Person Banking – And What You Can Do About It!

We (Dale Webster and I) have written to the Senate Standing Committee on Regional and Rural Affairs and Transport about the economic fallout from the removal of in person banking services across Australia. Today I discuss this with Robbie Barwick from The Australian Citizens Party and the need to lobby Senate members on this important issue.

Our submission is available to view here and download : https://digitalfinanceanalytics.com/blog/loss-of-in-person-banking-letter-to-rarat-committee/

And a list of Senators by state is available here: https://citizensparty.org.au/aus-senate

If you care about the economic future of our regional towns and suburbs, then please contact your local Senators and tell them that they should support the initiative, ideally over the next few days, so as to create maximum impact in the final sitting weeks of the year.

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

Loss Of In-person Banking: Letter To RARAT Committee

Here is a downloadable version of the letter Dale Webster (The Regional) and I sent to the member of the Senate Standing Committee on Rural and Regional Affairs and Transport about the economic impact of in-person banking being systematically removed across the country.

Letter-to-RARAT-committee-on-need-for-new-regional-banking-inquiry-NSDownload

The Crypto Story Gets Even Worse!

More bad news from the fallout from FTX, with derivatives and lending now under questions. Genesis, derivative business has a hole and Gemini is also under pressure. The industry is tied in knots, and the links back to major players means risks are stacked on risks, totally unregulated!

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

Is A 5% Fed Rate On The Cards?

The latest US sales data and GDPNow data signals the potential for higher rates, with some now talking about 5%, as Fed officials talk up more rises in the months ahead.

Results from retail were weaker, and some high-tech also, but markets are beginning to think about higher rates again, after the Fed continues to battle inflation. Mary Daly says a pause is off the table.

As a result, the markets had another down day.

Today’s post is brought to you by Ribbon Property Consultants.

UK Inflation Surprises On The Up Side…

The UK inflation data come in hot today, signalling broad-based inflation, including across services. Gas, electricity costs and food costs were among the main drivers, offset small falls in petrol and used cars.

This suggests the Bank of England will need to hike rates some more – though that may depend on the Chancellors Budget tomorrow.

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

Wages Rose More Than Expected But We Are Still Falling Behind!

The latest Wages Price Index data released by the ABS today contained some stronger than expected growth, especially in the Private Sector. Some of this was because of the Fair Wage Commission Award. Public Sector workers did less well.

Nevertheless, despite the rise, inflation is running hotter, and we know that neither the Treasury nor RBA expect real wages growth for the next couple of years. On the other hand, stronger wage rises will stoke inflation further.

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/

DFA Live Q&A HD Replay CBDC Vs Crypto: Who Wins? With Adam Stokes

This is an edited version of a live discussion about the current FTX debacle, the trajectory of Crypto, and the rise of Central Bank Digital Currencies. Is the future one of “harder, faster safer money”?

https://www.youtube.com/c/AdamStokes24

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

FINAL REMINDER DFA Live: Crypto Vs CBDC With Adams Stokes 8pm Sydney Tonight

Join us at 8pm Sydney time for our regular live event this week we will be looking at the latest ructions in Crypto, and what we can learn from it, as well as how Central Bank Digital Currencies are playing into the argument.

If one Bitcoin always worth one Bitcoin, how does the concept of “trust” play into the evolution of digital finance?