{"id":27214,"date":"2021-08-06T08:06:55","date_gmt":"2021-08-06T08:06:55","guid":{"rendered":"https:\/\/thepatientinvestor.com\/?p=27214"},"modified":"2021-08-06T08:08:06","modified_gmt":"2021-08-06T08:08:06","slug":"australian-economy-gold-medal-or-wooden-spoon","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2021\/08\/06\/australian-economy-gold-medal-or-wooden-spoon\/","title":{"rendered":"Australian economy: Gold medal or wooden spoon?"},"content":{"rendered":"<p>A quick health check from the RBA chart pack:<\/p>\n<p>Our trade balance is in robust good health.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2021\/2021-08-06-aus-current.png?w=401&#038;ssl=1\" alt=\"Australia: Current Account\"  \/><\/p>\n<p>Boosted by record high iron ore prices. Sadly, this is <a href=\"https:\/\/thepatientinvestor.com\/index.php\/2021\/08\/03\/iron-ore-crash\/\">nearing an end<\/a>.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2021\/2021-08-06-aus-exports.png?w=408&#038;ssl=1\" alt=\"Australia: Exports\"  \/><\/p>\n<p>On the domestic front, we have a decent chance of a bronze medal placing for the biggest housing bubble. But Canada, UK and NZ are vying for gold.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2021\/2021-08-06-aus-housing.png?w=408&#038;ssl=1\" alt=\"Australia: Housing\"  \/><\/p>\n<p>While on the business front, we are competing for the wooden spoon, with the lowest investment rate since the early &#8217;90s.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2021\/2021-08-06-aus-inv.png?w=406&#038;ssl=1\" alt=\"Australia: Current Account\"  \/><\/p>\n<h2>Conclusion<\/h2>\n<p>Economic policy is completely cock-eyed. We are driving up prices in an already over-heated housing market &#8212; in an attempt to generate short-term jobs &#8212; a ponzi scheme that puts the entire financial system at risk. And starving the one sector that has the potential to generate jobs and grow GDP, ensuring long-term stability.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A quick health check from the RBA chart pack: Our trade balance is in robust good health. Boosted by record high iron ore prices. Sadly, this is nearing an end. On the domestic front, we have a decent chance of a bronze medal placing for the biggest housing bubble. But Canada, UK and NZ are &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2021\/08\/06\/australian-economy-gold-medal-or-wooden-spoon\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Australian economy: Gold medal or wooden spoon?&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[40,3761,10,15],"tags":[536,927,1732,5041,3447],"class_list":["post-27214","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","category-gdp-and-activity","category-housing-economy","category-investment-infrastructure","tag-business-investment","tag-current-account","tag-housing","tag-resources-exports","tag-trade-balance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Australian economy: Gold medal or wooden spoon? - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Australian economy: Gold medal or wooden spoon? - the patient investor\" \/>\n<meta property=\"og:description\" content=\"A quick health check from the RBA chart pack: Our trade balance is in robust good health. Boosted by record high iron ore prices. Sadly, this is nearing an end. On the domestic front, we have a decent chance of a bronze medal placing for the biggest housing bubble. But Canada, UK and NZ are &hellip; Continue reading &quot;Australian economy: Gold medal or wooden spoon?&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2021\/08\/06\/australian-economy-gold-medal-or-wooden-spoon\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:author\" content=\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-06T08:06:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-08-06T08:08:06+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/static.incrediblecharts.com\/images\/2021\/2021-08-06-aus-current.png\" \/>\n<meta name=\"author\" content=\"Colin Twiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Colin Twiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2021\\\/08\\\/06\\\/australian-economy-gold-medal-or-wooden-spoon\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2021\\\/08\\\/06\\\/australian-economy-gold-medal-or-wooden-spoon\\\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"Australian economy: Gold medal or wooden spoon?\",\"datePublished\":\"2021-08-06T08:06:55+00:00\",\"dateModified\":\"2021-08-06T08:08:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2021\\\/08\\\/06\\\/australian-economy-gold-medal-or-wooden-spoon\\\/\"},\"wordCount\":142,\"publisher\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2021\\\/08\\\/06\\\/australian-economy-gold-medal-or-wooden-spoon\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2021\\\/2021-08-06-aus-current.png\",\"keywords\":[\"Business Investment\",\"current account\",\"housing\",\"Resources Exports\",\"Trade Balance\"],\"articleSection\":[\"Australia &amp; NZ\",\"GDP and Activity\",\"Housing\",\"Investment &amp; Infrastructure\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2021\\\/08\\\/06\\\/australian-economy-gold-medal-or-wooden-spoon\\\/\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2021\\\/08\\\/06\\\/australian-economy-gold-medal-or-wooden-spoon\\\/\",\"name\":\"Australian economy: Gold medal or wooden spoon? 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The media statement contains a decidedly bearish outlook for the housing market. Operational Review Demand for construction materials slowed further during the period. Australian residential construction approvals declined more than 25%\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":17863,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/02\/11\/why-the-rba-shouldnt-cut-interest-rates\/","url_meta":{"origin":27214,"position":1},"title":"Why the RBA shouldn&#8217;t cut interest rates","author":"Colin Twiggs","date":"February 11, 2019","format":false,"excerpt":"There are growing cries in local media for the RBA to cut interest rates in order to avoid a recession. House prices are falling and shrinking finance commitments point to further price falls. Declining housing values are likely to lead to a negative wealth effect, with falling consumption as household\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":24530,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/03\/12\/the-challenge-facing-australia\/","url_meta":{"origin":27214,"position":2},"title":"The challenge facing Australia","author":"Colin Twiggs","date":"March 12, 2021","format":false,"excerpt":"Interest rates are at record lows. New housing loans are soaring, with commitments at record levels. Auction clearance rates are climbing. While private residential building approvals have taken off. But non-mining business investment is plunging. Ultra-low interest rates have boosted demand for housing. Especially with major banks projecting a 20%\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15672,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/08\/04\/australia-housing-incomes-growth\/","url_meta":{"origin":27214,"position":3},"title":"Australia: Housing, Incomes &#038; Growth","author":"ColinTwiggs","date":"August 4, 2017","format":false,"excerpt":"A quick snapshot of the Australian economy from the latest RBA chart pack. Disposable income growth has declined to almost zero and consumption is likely to follow. Else Savings will be depleted. Residential building approvals are slowing, most noticeably in apartments, reflecting an oversupply. Housing loan approvals for owner-occupiers are\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":18628,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/08\/09\/asx-dead-cat-bounce\/","url_meta":{"origin":27214,"position":4},"title":"ASX: Dead cat bounce","author":"Colin Twiggs","date":"August 9, 2019","format":false,"excerpt":"The ASX 200 found support at 6450\/6500 followed by a hesitant rally: a candle with a long tail followed by a short-bodied evening star. This resembles a typical dead cat bounce. Breach of 6450 is likely and would warn of a decline to test support at 6000. Gerard Minack in\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":22967,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/11\/30\/australias-credit-and-investment-slump\/","url_meta":{"origin":27214,"position":5},"title":"Australia&#8217;s credit and investment slump","author":"Colin Twiggs","date":"November 30, 2020","format":false,"excerpt":"Australian private credit growth slowed to zero (month-to-month) for October 2020, or 1.8% year-on-year. Housing credit shows a slight up-tick, spurred by first home buyer incentives and ultra-low interest rates. But business credit is falling as investment demand plunges to 2008 lows. Capital expenditure contracted sharply in the services sector\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/27214","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=27214"}],"version-history":[{"count":3,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/27214\/revisions"}],"predecessor-version":[{"id":27217,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/27214\/revisions\/27217"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=27214"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=27214"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=27214"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}