The Australian economy is a long way from a strong recovery so confidently by our treasurer and reverse bank governor.
Video report from Friday afternoon; Outlines the current moment’s philosophy in both the US and Australian equity markets.
australian building permit
Up 3.6% last month. Which delivers a total of seven months since the renewed lockdown of negative 44% and shorter recovery phases of only 11%. Nice to see a positive month but nothing to get too excited about.
Australian private house approval
Slowing down again, and with just 9.6% total gain against 40.8% in the decline. These are also not strong economy or momentary lockdown recovery spikes.
Australian 10-Year Bond Yield
Continue to threaten a sharp breakout in the 2.5% to 3.5% area as forecast for last year.
It is worth noting that 69% of hospitalizations in NSW are double immunized. Unfortunately about 70% of deaths occur. Up to 80% on Sundays.
We all need to be careful, but not to be afraid. Even if you do get Kovid, your chances of going to the hospital are very less. It’s just that the absolute number is so high. The cause of health system stress. Relatively high numbers during the Australian experience mean voluntary semi-lockdown economic behavior will remain in place for several more weeks.
The overall trend is for a weak trend in economic growth with rising interest rates. Getting stuck below the growth trend is inevitable in the next few years. All the while inflation tends to rise significantly.
Government over-stimulus spending and poor management of the reverse bank have painted our economy into a gloomy corner.