RBA’s Incompetence

The migration tap is wide open and nobody is coming. UK and Canada have much fairer and faster processes. We’ve had 12000 arrivals in the first quarter of 2022

 

This is easy plenty of people with these skills....just need clearances and usa/UK approval vertting

 

here is my 2 cents on immigration . May be its off topic for the thread .

Salaries in countries from where we get most of these "Tech Immigrants" (which is prime force in total immi numbers) increased tremendously (like doubled) in just last two years. And plenty of jobs...just finish your degree and you will end up with nice IT job, even before you graduate(just when you are in 3rd year for 4 year degree course).

Immigration is not cheap. very costly. Nobody wants to spend huge chunk of their life savings on immigration, when you and your partner getting much better salaries than here.(considering cost of living terms and general sacrifices , like having someone to to take care of your kids, leaving family and friends) you have to make for permanent immigration.

There are still some folks who wants to come and settle here for lifestyle choices but that is not a major number. Only Immigration numbers we see are temporary Visa holders.
Moreover Canada(easy access to US at later stages), UK and some parts of Europe providing much better choices. And some back lash about how students were treated during pandemic. (good or bad, debatable)

 

may i know what imbalances you are talking about?

 

Rental imbalance. Units over supplied and houses under supplied.

Covid flipped this around and suddenly it was a God given right for people to only live in houses. As Covid worries disappear and people realise house rents are expensive units will be taken up this resolving the under supply of rentals

 

Yep there is so much misinformation in regards to immigration. The cost to just apply to immigrate is very high in Australia. Till this system changes no massive movement

Like you said places like Canada.. USA...UK....even Germany..Luxemburg look more attractive.

 

Yip. I think it cost me $7,500 (upfront, non refundable) and I had to wait 11 months (although that was somewhat better than the 36 months it was predicting at one point in the process).

Shipping cost would also be a factor now - must be astronomical. And the wait is probably ludicrous.

 

Even worse under the current govt they ****** billions against the wall Nutin to show for it. The worst economic managers ever in history


Would have been better spent in Solomon's...hospitals etc. Instead they talk about rubbish like transgenders in religious schools who cares....worry about cost of living....Chinese influence....climate change. These are the real issues facing Oz.

 

It's falling on basis of Chinese lock down.
The perceived fall in demand for resources that are a huge driver of Australian wealth and demand for AUD.

So Chinese demand down and in so is our currency.

 

Whilst iron ore prices are down a but not hugely...however due to Russian embargoes.... coal and natural gas prices are up. Australia is truly the lucky country....

As for WA....in the future and on current trajectory...Lithium...rare earth...and other minerals will be more valuable to WA!

 

AUD may be heading to 65. @MTR your prayers could be answered soon.

 

Yes crazy time again

 

Lucky country indeed.

Pentagon asks Congress to fund mining projects in Australia, U.K
Pentagon asks Congress to fund mining projects in Australia, U.K

 

Und dhat means 40 basis points in June.....

 

Yep.... USA and allies funding rare earth and other minerals. The Lynas announcement was sometime ago...this was to counter reliance on China as the largest supplier of processed rare earths required for semiconductors.

A lot of people have not clued onto the implications of this. One of the reasons I am bullish in Perth ... Darwin... Townsville... Newcastle not so much Brisbane and Adelaide.

 

Iron ore represents 40-45% of our total goods export.

Iron ore =5% of Australia GDP

Iron ore is 70% supplied to China

Its not the $ value that is important alone now its the volume( Total amount)

If demand from china is 70% less from iron ore alone the impact to GDP and currency is drastic. This is why rates rising last week had 0 impact on currency .



Next China is now our largest LNG customer

So even with higher prices if demand drops 10-20% this has huge downside pressure on our currency.

 

LNG is now pivoting to South Korea.. Japan...India etc.

Australia like Canada is having a field day because these countries are resource rich and have the commodities banned from Russia

The way I see it both Russia and China are slowly being destroyed financially by the West. Russian situation is obvious.

China is being hamstrung not only by their Covid lockdown but every US interest rate rise is also killing the Chinese economy. The other thing is the west is pivoting away from China. It will take time but when this happens it will really hurt.

 

Today’s unemployment details necessitates a 0.25% increase again at the June meeting

 

Driving us straight into a heavy recession... The driver is at the wheel, but he's drunk and too busy looking in the rear vision mirror to pay attention to the huge truck coming his way.

btw. I think only +0.25% would be very conservative. If you look at the "numbers", lowest unemployment in 50 years, rising wage growth, house prices not showing big falls on the data .. you'd go higher (.. well until you run into that semi)

 

More like 40 basis points.... employment is trending down - i.e. slowing.... interesting times ahead.

Need to punt another 2-3 properties before the muzac stops....