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Chief economist update: It's about human life, not human rights
BENJAMIN ONG  |  MONDAY, 3 AUG 2020
"We are all prisoners here of our own device." - Hotel California , The Eagles Victorian Premier Daniel Andrews declared Victoria in a "State of Disaster" from 6pm on August 2 and imposed Stage 4 restrictions that will run for six weeks (until September ...
Chief economist update: A tiny bug takes down the largest economy
BENJAMIN ONG  |  FRIDAY, 31 JUL 2020
"Toto, I've a feeling we're not in Kansas anymore." - Wizard of Oz Data revealed in the latest US National Accounts gave meaning to declarations that we are living in unprecedented times. Some would be concerned, but most would understand, reading ...
Chief economist update: Cheaper prices not a bargain
BENJAMIN ONG  |  THURSDAY, 30 JUL 2020
Down, down, prices are down ... big time! The Australian Bureau of Statistics (ABS) reported that the country's headline inflation dropped by 1.9% in the June quarter - the largest quarter on quarter decline in the 72-year history that the statistician ...
Chief economist update: Gold 2000
BENJAMIN ONG  |  WEDNESDAY, 29 JUL 2020
Gold prices have already been on the up and up last year, buoyed by major world central banks' about face towards a more accommodative policy - led by the US Federal Reserve's interest rate cuts (July, September and October 2019). Gold prices ...
Chief economist update: No Karens in China
BENJAMIN ONG  |  TUESDAY, 28 JUL 2020
The difference between Australia and China, my friends, is there are no selfish, stupid "Karens" in China. None that compare to the one in the state of Victoria that has now gone viral, protesting against the mandatory wearing of face masks. Let's ...
Chief economist update: Second wave comes to Japan
BENJAMIN ONG  |  MONDAY, 27 JUL 2020
Getting bitten by the love bug may be lovelier the second time around but definitely not if it's a second bite from the coronavirus. Australia is currently in the midst of it. Now the second wave looks like it's come to Japan. According to Kyodo ...
Chief economist update: Australian outlook under COVID-19
BENJAMIN ONG  |  FRIDAY, 24 JUL 2020
Only seven months before, Australia was on course to bring its fiscal budget back in the black after 12 years and an almost equal number of promises later from both sides of the political divide. The Mid-Year Economic and Financial Outlook (MYEFO) - ...
Chief economist update: US-China tensions escalate
BENJAMIN ONG  |  THURSDAY, 23 JUL 2020
Houston, we have a problem. The headlines say it all: "US-China tensions escalate after closure of Houston consulate" - The Guardian "China pledges to retaliate after U.S. orders closure of its consulate in Houston" - Washington Post "U.S. Orders China ...
Chief economist update: The next generation
BENJAMIN ONG  |  WEDNESDAY, 22 JUL 2020
It didn't happen overnight, but it did happen. After five days of deliberation, negotiation and compromise, leaders of the 27 governments that make up the European Union (EU) unanimously agreed to an unprecedented €750 billion "Next Generation ...
Chief economist update: Haste makes Budget waste
BENJAMIN ONG  |  TUESDAY, 21 JUL 2020
Would Australia be experiencing a second wave - and therefore, a reimposition of lockdown restrictions - had it not rushed to reopen and followed its original prescription for a six-month lockdown? Not only that, in the haste to reopen, the Victorian ...
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