Australian (ASX) Stock Market Forum

Investment/Finance/Economics breaking news

Jump to new
Oops ,got the facts wrong again. Top 5% income tax payers pay 1/3 of all personal tax. Here's the numbers for 2020-2021 fiscal year.

Top 1 % = 18%
5% = 35%
10% =47%
20% =63%
Incidentally, those Top one percenters pay the same dollar amount as the lowest earning 16.5 MILLION adults. So, the battlers ain't paying any net tax, what so ever.
 
dyna said:
Oops ,got the facts wrong again. Top 5% income tax payers pay 1/3 of all personal tax. Here's the numbers for 2020-2021 fiscal year.

Top 1 % = 18%
5% = 35%
10% =47%
20% =63%
Incidentally, those Top one percenters pay the same dollar amount as the lowest earning 16.5 MILLION adults. So, the battlers ain't paying any net tax, what so ever.
Click to expand...
I am so 1990 i know but how can we expect people not paying tax ever to be involved in the running of a country.
Why should they even be able to vote?
Shocking but pure basic logic .
You see the ultimate result of this madness in France and other collapsed European countries , and soon our friends the US
 
From The Guardian, a quality newspaper I read daily, after the markets close and I discard my stripes to don my Left Wing serge suit.

John Durie has been given the boot from The Australian. A former Chanticleer, he will be missed. Although the AFR may have him back, I am told.

Shoulders tapped at the Australian​

Seniority and performance it would seem are not enough to protect you when it comes to forced redundancies at the Australian.
Days after News Corp recorded record profits, marquee business columnist John Durie was informed over a Zoom call that his time on the paper was over. Sources say the call did not go well and Durie has since confirmed that “the timing was not mine”.
A former Australian Financial Review Chanticleer columnist, Durie covered the 1987 share market crash and the 2000 dotcom bust for the paper with distinction from 1999 to 2007 and later went on to join News Corp where he was a star attraction.
The Australian has been routinely tapping people on the shoulder for almost 10 years as it seeks to cut costs in its ever-shrinking newsroom. In the latest round at least 14 people departed, including the last of the staff photographers, Aaron Francis.
Click to expand...

gg
 
probably make more cash doing ALT media blogs and content now , and if really desperate he could write a book and do the social media circuit with that .
 
The Evergrande $300Billion debt story is not going to go away. It is also indicative of a wider group of Chinese company debts. It is on the news but perhaps mainstream Western news are not giving it the attention that say a similar crisis in the US or Europe would command.

Are we seeing 2008 again ?

 
"The US LEI declined in April largely due to weak consumer expectations and a drop in residential building permits,” said Ataman Ozyildirim, Senior Director of Economic Research at The Conference Board. “Overall, the US LEI was essentially flat in recent months which is in line with a moderate growth outlook in the near-term. A range of downside risks—including inflation, rising interest rates, supply chain disruptions, and pandemic-related shutdowns, particularly in China—continue to weigh on the outlook. Nevertheless, we project the US economy should resume expanding in Q2 following Q1’s contraction in real GDP. Despite downgrades to previous forecasts, The Conference Board still projects 2.3 percent year-over-year US GDP growth in 2022.”

 
When you look at the Data the evidence is that although U.S. Consumer and Business confidence is pretty low and the big Retailers are bleeding a bit, Consumers are still spending and Production is still pumping. Employment and Wages are strong and its only the Supply and Interest Rates causing the headaches such as with Building and Housing.

Great Britain and China may present problems for both the U.S. and Aus. but a Recession is a ways off.
 
Mohammed Hazabig'un said:
When you look at the Data the evidence is that although U.S. Consumer and Business confidence is pretty low and the big Retailers are bleeding a bit, Consumers are still spending and Production is still pumping. Employment and Wages are strong and its only the Supply and Interest Rates causing the headaches such as with Building and Housing.

Great Britain and China may present problems for both the U.S. and Aus. but a Recession is a ways off.
Click to expand...
pumping , or ' pre-buying ' ( hoarding ) ??

i disagree the recession has been here for a while , only the data ( calculations) have been changed
 
divs4ever said:
pumping , or ' pre-buying ' ( hoarding ) ??

i disagree the recession has been here for a while , only the data ( calculations) have been changed
Click to expand...
Employment and Wages are still strong and this is also reflected by the Purchasing Managers Index and Durable Goods Orders strength as that link above shows. This applies for both Aus and the U.S.
 
they have been manipulating Australian Employment ( and unemployment ) statistics since 1990 ( and before ) and in a progressive manner

at one stage even one hour of unpaid labor a week was classed as 'employed '

PPI and DGO might be a better indication but you want to be reading the fine print very carefully , serial cheats rarely reform ( ask Joe Biden )
 
GBP
Core Retail Sales (YoY) (Apr)
Act: -6.1% Cons: -8.4% Prev.: -0.2%

GBP
Core Retail Sales (MoM) (Apr)
Act: 1.4% Cons: -0.2% Prev.: -0.9%

GBP
Retail Sales (MoM) (Apr)
Act: 1.4% Cons: -0.2% Prev.: -1.2%

GBP
Retail Sales (YoY) (Apr)
Act: -4.9% Cons: -7.2% Prev.: 1.3%

better than expected.
 
  • The Morningstar US Market Index fell 2.89%.
  • Best-performing sectors were energy, up 1.16%, and healthcare rose 0.96%.
  • The worst-performing sectors was consumer defensive, down 9.40% ,and consumer cyclical, which fell 6.35%.
  • Yields on the U.S. 10-year Treasury fell to 2.79% from 2.93%.
  • Oil rose $2.21 to $112.70 per barrel.
  • Of the 867 U.S.-listed companies covered by Morningstar, 319, or 37%, were up, and 548, or 63%, declined.
 
Mohammed Hazabig'un said:
  • The Morningstar US Market Index fell 2.89%.
  • Best-performing sectors were energy, up 1.16%, and healthcare rose 0.96%.
  • The worst-performing sectors was consumer defensive, down 9.40% ,and consumer cyclical, which fell 6.35%.
  • Yields on the U.S. 10-year Treasury fell to 2.79% from 2.93%.
  • Oil rose $2.21 to $112.70 per barrel.
  • Of the 867 U.S.-listed companies covered by Morningstar, 319, or 37%, were up, and 548, or 63%, declined.
Click to expand...

Mmmmm mmmmm

Risk is back on the menu boys!
 
NZD
Core Retail Sales (QoQ)
Act: 0.0% Cons: Prev.: 6.8%

NZD
Retail Sales (QoQ) (Q1)
Act: -0.5% Cons: Prev.: 8.6%

NZD
Retail Sales Quarterly Vs. Year Ago (Q1)
Act: 2.3% Cons: Prev.: 4.4%

AUD
Manufacturing PMI
Act: 55.3 Cons: Prev.: 58.8

AUD
Services PMI
Act: 53.0 Cons: Prev.: 56.1

Interesting. Let's see what Mr Market says.

Japanese numbers 10.30am.

Futures already Red.
 
Top