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India–Australia relations have the potential to serve as a reliable anchor of stability and security.
https://www.lowyinstitute.org/the-interpreter/blueprint-india-australia-economic-relations

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Economy slowing, Sydneysiders moving and towers shooting up - Mr Yr 9

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Economy slowing, Sydneysiders moving and towers shooting up - Mr Yr 9

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DESPERATE landlords are having to slash rents to get citydwellers to move into their properties as new data shows our cities are littered with empty homes.

While there’s a mixed picture for Melbourne and Brisbane, Sydney has just recorded its highest vacancy rate in at least 13 years — as SQM Research figures now show 2.8 per cent of the city’s units and houses are sitting unoccupied. And they say it’s only going to get worse in the coming months.

That adds up to 19,572 residential rental dwellings estimated to be sitting vacant and available for rent, and experts say it could signal a dramatic slowdown in the city’s economy.

The new data shows this worrying downturn in the Harbour City has forced a fall in the asking rent for a house by 0.8 per cent on average and it could lead to tighter regulations on new developments, which could hamper the city’s booming construction sector.

The Hills District to the city’s north west has been hit particularly hard, with almost 5 per cent of homes in the vast area sitting empty.
https://www.news.com.au/finance/economy/australian-economy/economy-slowing-sydneysiders-moving-and-towers-shooting-up/news-story/ef7b985027421b12edc8512ebfd6ceda

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Average income has gone down and low income families can now afford less than 15 years ago:

The remarkable income stagnation for so many reveals that the economy has been failing to generate income for people over many years despite record levels of people in work.

In 2003, households on the lower half of incomes typically earnt £14,900.

In 2016/17 that figure had fallen to £14,800, the research shows.

Both figures are adjusted for inflation and housing costs.

There are over eight million low and middle income households, just under half of which have children.

And it is not just poorer households which have been facing a pay squeeze.

On average, incomes for all households in 2017/18 increased by just 0.9%, the lowest rise for four years and less than half the average between 1994 and 2007, just before the financial crisis.

For the poorest third of households, incomes actually fell by up to £150 in the last year.

The Resolution Foundation report said that surveys revealed that over 40% of low to middle income families feel they would be unable to save £10 a month and over 35% would be unable to afford a holiday for one week with their children.

Sourced from:
https://www.bbc.com/news/business-44926447
Continue reading from there

Posted by petra

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How People That Don't Know Much About Technology Ruin It For All It's Fans

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How People That Don't Know Much About Technology Ruin It For All It's Fans

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Last year crypto currency mining became a massive fad which destroyed the computer component market. The mining was seen as a way to get free money, so everybody and there grandma was doing it. People started to realise the most efficient component to use for mining was the graphics card. Large companies would buy out entire stores for there cards, this created a massive scarcity, increasing the price a lot. The thing they didn't realise is that more people mining just shared the same amount of coins among more people.

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Sydney now has almost more people per square kilometre than LA or San Fransisco. Its uneconomic because people are spreading out and its taking way too long to get to work. The rest of Sydney cant keep up with its centre. https://www.smh.com.au/business/the-economy/the-truth-about-how-many-people-are-being-packed-into-sydney-20180621-p4zmww.html

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Economic risk makes tax cut bad call:Labor

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Economic risk makes tax cut bad call:Labor

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Labor has pointed to a new economic report as evidence the Turnbull government's tax cut plan is poorly timed "madness".

Deloitte's Business Outlook, released on Monday, describes personal income tax cuts outlined in the May budget as repeating an old mistake by "spending a temporary revenue boom on permanent promises".

"We'd prefer to see the budget in better health before any such promises were made," the respected consultancy firm said.

The report warns China's slowdown will "slowly seep into commodity prices, winding back profit-driven boosts to federal revenues, while a mini-credit crunch will sound the death knell for the east coast stamp duty bonanza".

Shadow treasurer Chris Bowen said it showed why the coalition was not campaigning hard on the $140 billion worth of tax cuts.

"Locking in long-term tax cuts when there's already half a trillion in gross debt and no one knows what the global or domestic economic backdrop will be in four or six years time is sheer madness," Mr Bowen said.

"Deloitte's analysis of the Turnbull government's never never tax cut plan is a devastating critique."

He said by 2025, the combined fiscal impact of big business tax cuts and stage three of the income tax cuts is about $25 billion a year.

"The Liberal Party's unfunded tax cut plans mean more pressure on debt and a stronger likelihood of further cuts to schools and hospitals over the next decade."

The report found government budgets were looking the "healthiest in a decade" due to a surge in federal profits taxes and state stamp duties.

Posted by Danger Zone
Sourced From: https://www.sbs.com.au/news/economic-risk-makes-tax-cut-bad-call-laborhttps://www.sbs.com.au/news/economic-risk-makes-tax-cut-bad-call-labor

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Jamie Dimon says trade wars could stall US economic growth

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Jamie Dimon says trade wars could stall US economic growth

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JPMorgan Chase & Co chief executive officer Jamie Dimon said trade wars triggered by the Trump administration's tariff policies could stifle economic growth, reiterating comments he made when the bank reported earnings earlier this month.

"If you do another $US200 billion of tariffs and this national security thing about cars, I think that you're getting pretty close to reversing some of the benefits you've seen in the economy," Dimon said Thursday in an interview published on CNN's website.

In other highlights:

Dimon said many of the issues Trump has raised are accurate, but Trump is trying to resolve them in the wrong way.

It's too early to know the effect the tariffs will have on the economy, according to Dimon, but the reversal of growth is "possible".

Dimon said dragging out talks over the North American Free Trade Agreement negotiations isn't helpful. "We want NAFTA done," he said. "To be torturing Mexico in this way, in my opinion, is dead wrong, and it should be fixed."

Posted by Jeffery Jefferyson (it was copied from https://www.afr.com/news/economy/trade/jamie-dimon-says-trade-wars-could-stall-us-economic-growth-20180723-h131xc)

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Please post the Economics news stories you find here so that we all benefit and keep up to date :)

Mrs B]