Monthly Archives: October 2019

Geldzug: RECESSION O’CLOCK, AUSTRALIA?

4th October 2019 The biggest drivers of GDP growth in Australia are “houses and holes”, i.e. residential construction and resource exports. Residential construction is driven by factors internal to the Australian economy, whereas resource exports depend on the growth of the major global economies, particularly China. House prices and housing starts have been falling since early 2018, but there are recent signs that they are bottoming out. Optimists believe that the Reserve Bank’s two interest rate cuts plus changes in the banks’ prudential requirements will stimulate demand, prompting a recovery in 2020. We are more pessimistic: although house prices are [...]

2019-10-10T12:20:38+00:00October 10th, 2019|

Geldzug: THREE SEISMIC TREMORS IN SEPTEMBER

1 October 2019 The financial world was shaken by three seismic tremors during September 2019, but most people only noticed one of them. The First Seismic Tremor The one that everyone noticed was the drone attack on Saudi Arabia’s oil processing plant at Abqaiq on 14 September. The Yemen-based rebels who claimed responsibility have launched more than one hundred drone attacks in the last two years, on Saudi oil facilities such as oilfields, pipelines, and pumping stations, as well as military bases, airports, and other infrastructure... [read more]

2019-10-03T23:02:33+00:00October 3rd, 2019|