AUSTRALIA
Australian Federal Government Balances since Federation – note the 50s & 60s, our government is looking to debt load and dissipate with population ponzi again.
![](https://www.macrobusiness.com.au/wp-content/uploads/2018/05/Australian-budgets.jpg)
Australian government debt to GDP – we have driven it higher to bloat property prices and trash our education sector, while exporting the non-mining or agriculture external facing sectors of the economy
![](https://www.macrobusiness.com.au/wp-content/uploads/2018/05/Australianpublicdebt.jpg)
Budget 2018 – benefits over time. A great budget for the rich to just sit and wait for the money to start flowing to them.
![](https://www.macrobusiness.com.au/wp-content/uploads/2018/05/budgetbenefits.jpg)
Budget 2018 – top 20% and beneficiaries. A great budget for the rich to just sit and wait for the money to start flowing to them.
![](https://www.macrobusiness.com.au/wp-content/uploads/2018/05/government-incometaxplan.jpg)
Budget 2018 – the relief that never really relieves
![](https://www.macrobusiness.com.au/wp-content/uploads/2018/05/householdtaxtake.jpg)
RBA rate hike expectations – endlessly receding Tanguy horizon
![](https://www.macrobusiness.com.au/wp-content/uploads/2018/05/cashrateexpectations.jpg)
Housing Finance and Prices
![](https://www.macrobusiness.com.au/wp-content/uploads/2018/05/housing-commitments-finance.jpg)
Housing commitments
![](https://www.macrobusiness.com.au/wp-content/uploads/2018/05/OOhousing-comm-itments.jpg)
Iron ore supply in China
![](https://www.macrobusiness.com.au/wp-content/uploads/2018/05/ironoreinchina.jpg)
UNITED STATES
United States – Total Consumer Debt
![](https://www.macrobusiness.com.au/wp-content/uploads/2018/05/UStotalconsumerdebt.jpg)
United States – teenage labour participation
![](https://www.macrobusiness.com.au/wp-content/uploads/2018/05/usyouthlaborparticipation.jpg)
United States – labour participation 1990 onwards
![](https://www.macrobusiness.com.au/wp-content/uploads/2018/05/employment-data-participation-rate-chart_years-1990-to-2018.png)
United States – Initial Jobless 2005 – 2018
![](https://www.macrobusiness.com.au/wp-content/uploads/2018/05/initialjoblessus.jpg)
United States – income growth
![](https://www.macrobusiness.com.au/wp-content/uploads/2018/05/personal-income-annual-growth-rate-chart-history.png)
United States – Private sector yields and industrial production
![](https://www.macrobusiness.com.au/wp-content/uploads/2018/05/privatesectoryieldcurve.jpg)
United States – Recession probability since 1986
![](https://www.macrobusiness.com.au/wp-content/uploads/2018/05/USrecessionrisk.jpg)
United States – Economic recovery durations
![](https://www.macrobusiness.com.au/wp-content/uploads/2018/05/recoverylengths.jpg)
United States Stimulus and Unemployment
United States – Household equity exposure
![](https://www.macrobusiness.com.au/wp-content/uploads/2018/05/usequityownership.jpg)
Jobless adjusted for age
Age of US housing stock
EUROPE
Irish contribution to Eurozone exports
![](https://www.macrobusiness.com.au/wp-content/uploads/2018/05/irelandandeugrowth.jpg)
Greece Unemployment
![](https://www.macrobusiness.com.au/wp-content/uploads/2018/05/greek-unemployment.jpg)
CAPITAL MARKETS
Global private sector debt creation (and just how private is anything in China?)
![](https://www.macrobusiness.com.au/wp-content/uploads/2018/05/privatesectorcreditcreation.jpg)
Major Global Central Bank positioning over time
![](https://www.macrobusiness.com.au/wp-content/uploads/2018/05/cbtighteningt.jpg)
Emerging Market currencies April-May 2018
![](https://www.macrobusiness.com.au/wp-content/uploads/2018/05/emcurrencieslast8-weeks.jpg)
Argentine Peso – Look out below
![](https://www.macrobusiness.com.au/wp-content/uploads/2018/05/argentinapeso.jpg)
Turkish Lira
![](https://www.macrobusiness.com.au/wp-content/uploads/2018/05/turkeylira.jpg)
US Treasuries – Flatten that curve baby
![](https://www.macrobusiness.com.au/wp-content/uploads/2018/05/USTyields.jpg)
10 Year yields
![](https://www.macrobusiness.com.au/wp-content/uploads/2018/05/US10yearyields.jpg)
United States – Germany 10 year spread
United States Corporate Debt maturity profile
Emerging Market US dollar denominated debt maturity profile
![](https://www.macrobusiness.com.au/wp-content/uploads/2018/05/emusdebtsroll.jpg)
Foreign Currency debt to GDP – selected nations
![](https://www.macrobusiness.com.au/wp-content/uploads/2018/05/USDdebtexposurebis.jpg)
LIBOR – OIS Spread
![](https://www.macrobusiness.com.au/wp-content/uploads/2018/05/liborois.jpg)
Buybacks and the S&P500
![](https://www.macrobusiness.com.au/wp-content/uploads/2018/05/sandpsharebuybacks.jpg)
GLOBAL MACRO
Selected nations population growth – post 2008
![](https://www.macrobusiness.com.au/wp-content/uploads/2018/05/populationgrowth-australia.jpg)
Global Economic Momentum
![](https://www.macrobusiness.com.au/wp-content/uploads/2018/05/global-momentum.jpg)
Global Central Bank balances
![](https://www.macrobusiness.com.au/wp-content/uploads/2018/05/globalCBassetbalances.jpg)
The scale of the global pension dilemma
![](https://www.macrobusiness.com.au/wp-content/uploads/2018/05/globalretirementsavingsgap.png)
The Global Working Poor
![](https://www.macrobusiness.com.au/wp-content/uploads/2018/05/workingpoor.jpg)
Africa – GDP per capita by country 2016
OECD and selected others – Industrial Production and Momentum
![](https://www.macrobusiness.com.au/wp-content/uploads/2018/05/globalmomentumandindustprod.jpg)
Energy related carbon dioxide emissions
![](https://www.macrobusiness.com.au/wp-content/uploads/2018/05/globalenergyrelatedco2emits.jpg)
Interest rates over the really long term
![](https://www.macrobusiness.com.au/wp-content/uploads/2018/05/longterminterest.jpg)