Pete Wargent blogspot

Co-founder & CEO of AllenWargent property buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place), & CEO of WargentAdvisory (providing subscription analysis, reports & services to institutional clients).

5 x finance/investment author - 'Get a Financial Grip: a simple plan for financial freedom’ (2012) rated Top 10 finance books by Money Magazine & Dymocks.

"Unfortunately so much commentary is self-serving or sensationalist. Pete Wargent shines through with his clear, sober & dispassionate analysis of the housing market, which is so valuable. Pete drills into the facts & unlocks the details that others gloss over in their rush to get a headline. On housing Pete is a must read, must follow - he's one of the finest property analysts in Australia" - Stephen Koukoulas, MD of Market Economics, former Senior Economics Adviser to Prime Minister Gillard.

"Pete is one of Australia's brightest financial minds - a must-follow for articulate, accurate & in-depth analysis." - David Scutt, Business Insider, leading Australian market analyst.

"I've been investing for over 40 years & read nearly every investment book ever written, yet I still learned new concepts in his books. Pete Wargent is one of Australia's finest young financial commentators." - Michael Yardney, Australia's leading property expert, Amazon #1 best-selling author.

"The most knowledgeable person on Aussie real estate markets - Pete's work is great, loads of good data & charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, author of the New York Times bestsellers 'End Game' & 'Code Red'.

"The level of detail in Pete's work is superlative across all of Australia's housing markets" - Grant Williams, co-founder RealVision - where world class experts share their thoughts on economics & finance - author of Things That Make You Go Hmmm, one of the world's most popular & widely-read financial publications.

"Wargent is a bald-faced realty foghorn" - David Llewellyn-Smith, 'MacroBusiness'.

Sunday, 7 January 2018

US economy rumbles on

Jobs growth continues

They say that if US employment is tracking well then everything else takes care of itself (well, some people say used to say that anyway, probably not so much any more).

There have been some daft arguments about whether more jobs were being added under Obama than are now under Trump.

Even two years after inauguration Obama presided over an unemployment rate that was still above 9 per cent - it's silly and dishonest to even suggest we could see an equivalent run of results now when the unemployment rate is tracking at a notch over 4 per cent.

The headline jobs result for December was a bit below expectations, but after revisions the economy has still averaged +204,000 per month over the past 3 months, which is plenty decent enough. 

Gains were recorded this month spread across health, construction, manufacturing, and elsewhere. 

The unemployment rate was just 4.1 per cent for the third month in a row.

And the annual growth in average hourly earnings just ticked up a notch to +2.5 per cent. 

US stock markets continue to go nuts with the Dow Jones blazing at full tilt towards 25,300.

Even a fairly dramatic correction from here would only take the index back to where it was last year, showing just how hard it is to time share markets.