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The PM wants ideas to ease the cost of living squeeze. Here’s one ...

Australian living standards have fallen more than 10 per cent in the past two years. And yes, you read that right. Prices have sprinted ahead of wages . Mortgage rates have soared. And so has the tax take, with personal tax now at a record share of incomes. Much of the world has seen similar pain, but Australia’s drop in our living standards is bigger than most – and larger than anything we’ve seen in past recessions. No wonder the electorate is grumpy. Prime Minister Anthony Albanese in Sydney on Wednesday. Credit: Dominic Lorrimer While optimism has been returning for several months across the United States, Europe and New…

The PM wants ideas to ease the cost of living squeeze. Here’s one ...

Australian living standards have fallen more than 10 per cent in the past two years. And yes, you read that right. Prices have sprinted ahead of wages . Mortgage rates have soared. And so has the tax take, with personal tax now at a record share of incomes. Much of the world has seen similar pain, but Australia’s drop in our living standards is bigger than most – and larger than anything we’ve seen in past recessions. No wonder the electorate is grumpy. Prime Minister Anthony Albanese in Sydney on Wednesday. Credit: Dominic Lorrimer While optimism has been returning for several months across the United States, Europe and New…

Mining Sector Success Hinges on China's Stimulus Decision

By Michael Msika, Bloomberg markets live reporter and strategist January and February are usually pretty good months for Europe’s mining stocks, as factories in China rush to replenish their metals reserves. This year, that seasonal lift will hinge on Beijing coming through with stimulus . if(window.innerWidthADVERTISEMENTfreestar.config.enabled_slots.push({ placementName: "oilprice_medrec_atf", slotId: "oilprice_medrec_atf" });';document.write(write_html);} The Stoxx 600 Basic Resources index is coming into 2023 after a decent run of gains, bouncing 13% from its October 23 trough as it became clear central banks are done hiking…

The PM wants ideas to ease the cost of living squeeze. Here’s one ...

Australian living standards have fallen more than 10 per cent in the past two years. And yes, you read that right. Prices have sprinted ahead of wages . Mortgage rates have soared. And so has the tax take, with personal tax now at a record share of incomes. Much of the world has seen similar pain, but Australia’s drop in our living standards is bigger than most – and larger than anything we’ve seen in past recessions. No wonder the electorate is grumpy. Prime Minister Anthony Albanese in Sydney on Wednesday. Credit: Dominic Lorrimer While optimism has been returning for several months across the United States, Europe and New…

Columbia professor who warned of ‘doom loop’ scenario changes tune on NYC

Whew! The sky isn’t falling on the Big Apple after all. The academic behind the infamous “Doom Loop” scenario says that things might be looking up for New York City, despite his earlier forecast that less need for office space would cast it into a death spiral. Columbia University economics professor Stijn Van Nieuwerburgh wrote an oft-quoted, 2022, essay, “The Remote Work Revolution: Impact on Real Estate Values and the Urban Environment.” Its thesis, later amplified in a report he authored with two colleagues , prophesied that less demand for offices after the pandemic would cast the city into a death spiral resulting from…