Politics – Page 2 – Digital Finance Analytics (DFA) Blog

Save Free Speech: Fight The Disinformation Bill!

This is an edited version of a recent live show I did on Adam Stokes channel relating to the Combatting Misinformation and Disinformation) Bill 2024 which on the 19 September 2024, the Senate referred the provisions of the bill to the Environment and Communications Legislation Committee for report by 25 November 2024.

You have JUST SEVEN Days! 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!

Adams Live stream: https://youtu.be/jhiRS7_TE9Y

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/

Digital Finance Analytics (DFA) Blog

Save Free Speech: Fight The Disinformation Bill!

00:00 / 01:32:00

Is The Postal Bank Winning? With Robbie Barwick…

This is a good news story, as I discuss with progress being made on the move towards the creation of a Postal Bank in Australia, with Robbie Barwick from the Australian Citizens Party.

https://citizensparty.org.au/campaigns/public-post-office-bank

But we need to keep the pressure on to ensure that the National Bank is developed in the way to benefit ordinary Australians and Businesses, so there is more still to do. And keeping pressure on our elected representatives will be essential!

Links to the two shows we discuss:

LPOG: https://youtu.be/MHGZwK0vFgw?si=XA2zj0XJfbmTTsgc
Malcolm Roberts: https://youtu.be/n1B1wKHcz5g?si=TD3ZakbamzdAfyy8

http://www.martinnorth.com/

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Is The Postal Bank Winning? With Robbie Barwick...

00:00 / 00:25:13

Window Dressing: The Ozzie Inflation Battle Raises Burning Questions For Us All!

In the past 48 hours we had a no change interest rate decision from the RBA and monthly headline inflation which dropped within the target 2-3% target range from the partial services heavy monthly data release, thanks to temporary Government handout to ease costs of living so window dressing the results, but which the RBA says they will look through in the policy deliberations.

The RBA, is facing increasing pressures at home to lower borrowing costs, with politicians sparring over the outlook on interest rates ahead of an election due by May 2025. But Bullock said the RBA won’t be dragged into politics as it is splitting with a global easing cycle as it waits for inflation to abate.

So today I want to look at the RBA statement, then delve into the detail from the inflation numbers and finally try to figure out what this all means.

The RBA last month warned the rapid rise in government outlays was one of the factors prolonging high inflation. The bank’s statement was a political headache for Dr Chalmers, and Ms Bullock subsequently softened the central bank’s stance, saying government spending was not the “main game” for inflation.

At the federal level, government spending on childcare, aged care and disability care surged by more than 20 per cent over the past year, while spending on public servant wages jumped 14.5 per cent. Spending on the NDIS has been a major driver of the explosion in government spending. The scheme, which is forecast to cost $49 billion this financial year, is growing at about 20 per cent per year and is on track to cost more than the age pension within a decade.

Since the 2019 calendar year, the underlying cost base in the construction sector has grown by a whopping 36 per cent, compared to around 21 per cent in the non-mining market sector as a whole.

As the public sector expands, productivity growth would temporarily slow as more resources poured into sectors such as healthcare and education, where productivity is about one-third lower than the private sector.

http://www.martinnorth.com/

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

Digital Finance Analytics (DFA) Blog

Window Dressing: The Ozzie Inflation Battle Raises Burning Questions For Us All!

00:00 / 00:23:05

Seven Days To Stop 1984!

In this special show I am joined by Robbie Barwick from the Australian Citizens Party, and Economist John Adams, from In The Interests Of The People to underscore the need for people to make their views known to Government on the Combatting Misinformation and Disinformation) Bill 2024 which on the 19 September 2024, the Senate referred the provisions of the Communications Legislation Amendment (Combatting Misinformation and Disinformation) Bill 2024 (the bill) to the Environment and Communications Legislation Committee for report by 25 November 2024.

You have JUST SEVEN Days! as submissions close on the 30 September 2024.

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

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

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/

Digital Finance Analytics (DFA) Blog

Seven Days To Stop 1984!

00:00 / 00:39:58

Lies, Statistics And The “Facts” About Foreign Students And Rents…

If you want a case study of how data is used to mislead, rather than help define a problem, then look no further than the recent stoush surrounding foreign students and their impact on the housing crisis.

We have as you know seen a massive upswing in migration to Australia, after the drought through the COVID years. The current high levels continue as the latest stats show with the current Government target set to be blown past by the end of the year.

A significant element in the numbers relate to overseas students arriving in Australia ostensively to study, but often as a proxy to gain longer term residency.

Overseas students typically spend several years studying in Australia. This means that many among the record wave of students that arrived last year will be here for some years to come.

A total of 767,120 people arrived in Australia on temporary student visas over the 12 months ending June 2024. These were spread across higher education, vocational education and training (VET), schools, and English language courses.

Some argue that from a purely economic perspective, a high number of international students is good for Australia’s economy and that Education is Australia’s second largest export, bringing in around $36.4 billion over the 2023 financial year.

Universities Australia chief executive Luke Sheehy said international enrolments should not be blamed for housing woes. “Using students as cannon fodder in the migration battle risks the viability of our universities and as national accounts show, the growth of our economy,” he said.“International students contributed more than anything to Australia’s GDP growth last year.

While it was certainly one of the factors that prevented Australia from entering into a technical recession last year, the truth is this is a statistical trick, as we have highlighted before, because many overseas students also work in Australia, and often send funds back overseas. See my recent discussions with Cameron Murray and Tarric Brooker, who have pealed back the truth – though the same lie about the economic contribution of foreign students is trotted out regularly by academics trying to defend their mismanaged of the economics of education, and to resist the proposed cap on students ahead.

The move has sent the education sector spinning, at a time when Government funding for universities is taking a back seat, and when nabbing vast numbers of overseas students have been required to make university budgets work. And of course, a whole new industry designed to pull overseas students into the country, with dubious educational value is in question.

http://www.martinnorth.com/

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

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

Digital Finance Analytics (DFA) Blog

Lies, Statistics And The “Facts” About Foreign Students And Rents...

00:00 / 00:14:35

Broken City!

Home builders are falling off the perch at an alarming rate with high rates of insolvency among construction firms, many of whom were homebuilders, to 3,000 in the past year. While many of these were small firms, we are still seeing a spate of larger firms going under. We are encountering more people in our 1:1 discussions with people coping with half built projects, no builder to take over the work, rising costs and blown out completion dates. No wonder people prefer to buying existing property.

The latest quarterly data on the value of construction work done also fell by 0.1% over Q2 to be 2.9% lower year-on-year.

More broadly, The Albanese Government is a complete mess on housing with the three bills that comprise its $32bn Housing for Australia plan blocked in the senate. These include The Help to Buy shares equity scheme. The Housing Future Fund equity investment vehicle to build just 13,000 houses per year. And the Build to Rent legislation which is designed to assist corporate to get tax breaks to build and then rent units, probably at higher than market rents. After all they are designed to make profits for those investing corporates and superfunds.

Prime Minister Anthony Albanese has threatened to use the Senate’s obstruction of Help to Buy as a trigger for a double dissolution election. Welcome to that time of the political cycle where we find ourselves burrowing into the election date speculation rabbit hole.

The real fix of course is to cut immigration significantly, as this would ease the rental shortage and lower rental inflation; which in turn would take pressure off the RBA to hold rates higher for longer enabling builders to clear the huge backlog of approvals and easing pressure on households. And on that front, Moody’s says that Australian mortgage delinquency rates, which increased over the June quarter, will continue to rise moderately over the rest of this year as high interest rates and sticky inflation put financial stress on households.

Standing back, the policy errors made by the current government are literally hitting home, and with the prospect of more political tricks on all sides of politics, the real impact on people will continue. They should be held to account for their mistakes.

http://www.martinnorth.com/

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

Find more at https://digitalfinanceanalytics.com/blog/ where you can subscribe to our research alerts

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

Digital Finance Analytics (DFA) Blog

Broken City!

00:00 / 00:12:41

Controlled! Shut Up, Say Nothing: Obey….

Well now we have next bit of the controlling infrastructure being put in place to control free speech, and perhaps even what we think! The Orwellian nightmare with severe consequences for freedom of expression is being rolled out for all to see.

I have already talked about the dystopian future being drip fed on society, with the removal of cash so financial transactions can be monitored, the introduction of a non-mandatory but effectively mandatory of a digital ID, and of course there is the move to restrict youngsters access to socials.

But now we have the next piece of the puzzle, as Today in Canberra, Minister Rowland tabled the Labour Government’s latest version of the “Combatting Misinformation and Disinformation Bill”.

This bill defines ‘serious harm’ as:
(a) harm to the operation or integrity of a Commonwealth, State, Territory or local government electoral or referendum process; or
(b) harm to public health in Australia, including to the efficacy of preventative health measures in Australia; or
(c) vilification of a group in Australian society distinguished by race, religion, sex, sexual orientation, gender identity, intersex status, disability, nationality or national or ethnic origin, or vilification of an individual because of a belief that the individual is a member of such a group; or
(d) intentionally inflicted physical injury to an individual in Australia; or
(e) imminent:
(i) damage to critical infrastructure; or
(ii) disruption of emergency services; in Australia; or
(f) imminent harm to the Australian economy, including harm to public confidence in the banking system or financial markets; that has:
(g) significant and far-reaching consequences for the Australian community or a segment of the Australian community; or
(h) severe consequences for an individual in Australia
If the platforms do not silence the above content, they could be slapped with a range of penalties, including a maximum fine of 5 per cent of their global revenue. That’s a very big stick which will undoubtedly result in algorithms which silence a large amount of factual content.

Frankly, in the light of this, my ability to analyse and yes criticise Government Policy, Monetary Policy or even economic analysis more generally could be caught in the draconian umbrella. Even reporting on financial pressures on households could be caught. My voice would be silenced online and the government talking points would continue to spread unchallenged.

Then just add the Central Bank Digital Currency into the mix, the total control by Government is complete. This is anti-democratic nonsense and needs to be stopped. Before its too late, if its not already!

http://www.martinnorth.com/

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

Digital Finance Analytics (DFA) Blog

Controlled! Shut Up, Say Nothing: Obey….

00:00 / 00:03:48

Solve The Housing Crisis By Building Smaller, Darker, Higher Homes?

Housing affordability is one of the biggest pressures facing the Australian community and the Government has committed to building 1.2 million new, quote well-located homes across Australia by mid-2029. This is all but impossible, on current trends, and of course housing pressures have been exacerbated by super-high migration.

The NSW Productivity and Equality Commission just released a report: Review of housing supply challenges and policy options for New South Wales.

In summary, New South Wales needs to build 377,000 homes by mid-2029 under its housing targets. The Productivity and Equality Commission recommends Higher-density zones around train stations would double in size and extend further into Sydney’s eastern suburbs and north shore. They are recommending design standards be relaxed to allow the construction of smaller apartments without access to parking, storage or direct sunlight. They say government spending priorities would shift from infrastructure projects like new metros and motorways, to projects that support rapid housing supply. And there would be more migration opportunities for construction workers, to address a critical skills shortage.

Even then I suspect targets wont be met. But to me, by not talking about the demand side of the equation – driven by too high migration they are missing the elephant in the room. As a result, they are proposing we build higher, smaller darker homes – as high-rise living is forced more widely on the population. This risks further degrading the standards of living for many. True while some may be willing to pay less to get anything to live in, the trade-off and compromises are enormous.

http://www.martinnorth.com/

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

Find more at https://digitalfinanceanalytics.com/blog/ where you can subscribe to our research alerts

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

Digital Finance Analytics (DFA) Blog

Solve The Housing Crisis By Building Smaller, Darker, Higher Homes?

00:00 / 00:22:42

Markets Caught Saying Hello To A Hard Landing!

This is our weekly market update where we start in the US, cross to Europe and Asia and end in Australia, covering commodities and crypto on the way, and a reminder, this show is data rich, not shouty stupidity like so much on socials these days, and the purpose is to help me understand what is really going on at the moment. If it helps you too, that’s great!

As often in September, market uncertainty rippled through markets this week, adding fuel to an already-volatile period which points to more of the same ahead.

The flows of data remained mixed, and U.S. stocks tumbled on Friday after closely watched jobs numbers showed labor market momentum slowing more than expected, suggesting a narrower path for the U.S. to achieve a soft landing, defined as the Fed being able to cool inflation without badly damaging economic growth. Beyond that, investors are still grappling with a shift in Federal Reserve policy, a tight U.S. election and worries over stretched valuations, plus numerous geopolitical tensions, and a resetting of AI tech related expectations to boot.

So, we saw an ebbing risk appetite across markets. The S&P 500 dropped 1.7% on Friday and has lost nearly 4.3% in the past week, its worst weekly decline since March 2023.

Nonfarm payrolls expanded by 142,000 last month, compared with expectations for a 165,000 advance. The prior two months of gains were lowered, another sign that the US labour market is weakening.

Positioning remains extreme, and investors are complacent about the risks that a soft landing could turn into something nastier. September often brings volatility on markets, but don’t ignore the direction of travel.

http://www.martinnorth.com/

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

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Markets Caught Saying Hello To A Hard Landing!

00:00 / 00:23:50

The Australian Monetary Policy Civil War: With Tarric Brooker

In my latest Friday chat with journalist Tarric Brooker, we look back at the recent stoush between the Reserve Bank and the Government as inflation remains sticky, and the Treasurer says Government spending is helping to bring inflation down.

Plus, thanks to Tarric’s excellent slides we parse the latest data and delve into the mechanics of high migration, home prices, and falling real GDP per hour worked.

You can see the slides here: https://www.burnouteconomics.com/p/dfa-chart-pack-6th-september

Here is the article Tarric referred to in the show: https://www.burnouteconomics.com/p/burnout-economics-and-aussie-household

http://www.martinnorth.com/

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

Digital Finance Analytics (DFA) Blog

The Australian Monetary Policy Civil War: With Tarric Brooker

00:00 / 01:23:23