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MacroBusiness Friday, December 6, 2024 - 12:00 Source

There’s nothing like McKinsey blowing smoke at the AFR. McKinsey blamed stagnating national productivity and weaker real incomes on two key trends. First, the non-market economy, such as disability support, aged care and the public service, has had no productivity improvement for 20 years. These government-dominated industries are growing at almost triple the pace of

The post AFR is intellectually bankrupt appeared first on MacroBusiness.

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Renew Economy Friday, December 6, 2024 - 11:51 Source
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MacroBusiness Friday, December 6, 2024 - 11:40 Source

And the gas debacle deepens. AER board member Lynne Gallagher said the regulator’s analysis suggested APA can exercise market power over the supply of services on the pipeline, but that the ruling also considered the power of major users and the potential for customers to substitute the services they receive on the line in the

The post QLD gas pipeline free to rape southern Australia appeared first on MacroBusiness.

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MacroBusiness Friday, December 6, 2024 - 11:20 Source

There was some moderately positive news this week, with the Australian Bureau of Statistics (ABS) reporting that dwelling approvals continue to trend higher after bottoming in January 2024. As illustrated below, both house and unit approvals have lifted and are up 4.2% and 9.8% through the year. In October, 15,069 dwellings were approved for construction

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Renew Economy Friday, December 6, 2024 - 11:15 Source
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Renew Economy Friday, December 6, 2024 - 11:10 Source
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xkcd.com Friday, December 6, 2024 - 11:00 Source

And even when they're not distracted, they usually get kicked out for illegal under-the-net 'subduction spikes'.

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MacroBusiness Friday, December 6, 2024 - 10:30 Source

Labor has turned the economy into a circus freak show. There is no other explanation for eight out of nine quarters of falling per capita GDP. Labor’s loons are a world-beating growth-stopper. At their head is General Albotard: The Man with No Brain. Who doesn’t know his economic arse from his elbow. The second act

The post Roll up for Labor’s economic freak show appeared first on MacroBusiness.

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MacroBusiness Friday, December 6, 2024 - 10:30 Source

DXY is hacking its way through more serious timber. AUD is off the lows. Aided by North Asia. Oil needs to be $10 lower. I think we’ll get there. Dirt meh. Miners meh. EM meh. Junk meh. Looks like Treasuries are setting up for US jobs disappointment. Which stocks will love. Goldman on the NFP

The post Australian dollar looks up to US jobs appeared first on MacroBusiness.

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Renew Economy Friday, December 6, 2024 - 10:07 Source
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Renew Economy Friday, December 6, 2024 - 09:39 Source
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MacroBusiness Friday, December 6, 2024 - 09:30 Source

In 2013, as Origin Energy prepared to export enormous quantities of East Coast gas, mostly to China, the Grattan Institue’s Tony Wood demanded there be no domestic reservation: “With more than $160 billion forecast to be invested in LNG production, the export industry is good for the economy. Governments should therefore resist self-interested calls from

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Your Democracy Friday, December 6, 2024 - 09:01 Source

En direct, allocution d’Emmanuel Macron : pas de démission, une loi de finances spéciale avant la mi-décembre… Ce qu’il faut retenir de la prise de parole du chef de l’Etat

Le président de la République a annoncé jeudi soir qu’il nommera « dans les prochains jours un premier ministre ». Il a reconnu que la dissolution de l’Assemblée nationale, en juin, « n’a pas été comprise » par les Français.

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MacroBusiness Friday, December 6, 2024 - 09:00 Source

Wall Street was doing well until late into the close as profit taking set in, finishing with small losses despite the latest initial jobless claims coming in weaker than expected while European stocks continued their rebound led by the German DAX as those risk markets continue to ignore the collapse of French government. The USD

The post Macro Morning appeared first on MacroBusiness.

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Your Democracy Friday, December 6, 2024 - 08:00 Source

The Five Eyes multinational intelligence sharing network has sounded an unprecedented alarm about the threat of young people being radicalised by extremist online content, as authorities warn Australian children as young as 12 are at risk of becoming terrorists.

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MacroBusiness Friday, December 6, 2024 - 08:00 Source

Housing affordability has never been worse in Australia. According to a recent analysis from PropTrack, a household with a median income could afford the lowest share of homes on record. Rental affordability has also fallen to a record low, making it harder for first-time buyers to save up a deposit. A key problem is that

The post Australia embraces extend and pretend mortgages appeared first on MacroBusiness.

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Renew Economy Friday, December 6, 2024 - 07:55 Source
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Your Democracy Friday, December 6, 2024 - 07:14 Source

Government spending is keeping Australia out of recession, just as this week’s feeble GDP numbers tallied 7 consecutive quarters of negative growth. Michael Pascoe reports on the moaning business lobby.

A funny thing happened after Wednesday’s weak national accounts figures: a large part of the economic commentariat poured scorn on government spending and investment for keeping the economy afloat. 

 

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Your Democracy Friday, December 6, 2024 - 06:26 Source

In 1947, former British prime minister Winston Churchill famously observed that: “Many forms of government have been tried, and will be tried in this world of sin and woe. No one pretends that democracy is perfect or all-wise. Indeed, it has been said that democracy is the worst form of government except for all those other forms that have been tried from time to time.”

 

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Your Democracy Friday, December 6, 2024 - 06:05 Source

“No man is an island, Entire of itself. Each is a piece of the continent, A part of the main.If a clod be washed away by the sea, Europe is the less. As well as if a promontory were.As well as if a manor of thine own Or of thine friend’s were. Each man’s death diminishes me,For I am involved in mankind. Therefore, send not to know For whom the bell tolls,It tolls for thee.” (John Donne – For Whom the Bell Tolls)

 

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Your Democracy Friday, December 6, 2024 - 05:49 Source

The surprise offensive by Syrian rebels led by a radical Islamist group with roots in Al Qaeda dramatizes the enormous regional repercussions set off by Israel’s war against Lebanon’s Hezbollah.

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MacroBusiness Friday, December 6, 2024 - 00:10 Source

Wednesday’s Q3 national accounts release from the Australian Bureau of Statistics (ABS) revealed that Australia’s per capita recession extended to a record-breaking seventh consecutive quarter after declining by 0.3% in Q3. This meant that Australia’s real per capita GDP declined by 1.5% in the year to September 2024, in line with the declines recorded in

The post Recession crashes down on Australian households appeared first on MacroBusiness.

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Your Democracy Thursday, December 5, 2024 - 17:34 Source

WE ARE AT A TRUMPIAN JUNCTURE…. WHATEVER THIS MEANS, TRUMP WANTS TO SHAKE THE OLD “SYSTEM” WHICH HAS BECOME STALE AND CORRUPT (IT ALWAYS HAS BEEN)….

THE “OLD SYSTEM” HAS SURVIVED MANY UPS AND DOWN, BUT ITS RESILIENCE IS MOSTLY DUE TO THE ADAPTATION OF THE MIDDLE CLASS TO VARIOUS DEGREE OF ACCEPTANCE AND PRODUCTION OF CRAP — SOME PHILOSOPHICAL AND SOME MATERIALISTIC. 

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MacroBusiness Thursday, December 5, 2024 - 16:30 Source

While Bitcoin makes headlines, Asian stock markets are generally lower over continued macro concerns and the lead up to tomorrow night’s US jobs print. The USD is relatively steady and strong against the other undollars while the Australian dollar remains under pressure just above the 64 handle. Oil futures are failing to hold on to

The post Macro Afternoon appeared first on MacroBusiness.

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The Australian Independent Media Network Thursday, December 5, 2024 - 15:53 Source

Climate Council Media Release Australians are being kept in the dark about the true costs of the Federal Coalition’s risky and expensive nuclear scheme. The Federal Coalition’s heavy reliance on the first of two Frontier Economics reports paints a damning picture of the methods they may use to fudge the nuclear numbers and mislead Australians.…

The post The seven ways the Federal Coalition could cook the books on nuclear costings appeared first on The AIM Network.

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The Australian Independent Media Network Thursday, December 5, 2024 - 14:56 Source

Dementia Australia Media Release Dementia Australia welcomes the National Dementia Action Plan, a ten-year framework for government that provides the opportunity to make enduring positive changes to improve the quality of life for people living with dementia. Dementia Australia CEO Professor Tanya Buchanan said the plan is vital to ensure that the more than 421,000…

The post National Dementia Action Plan provides a clear vision for the future appeared first on The AIM Network.

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Renew Economy Thursday, December 5, 2024 - 14:54 Source
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Renew Economy Thursday, December 5, 2024 - 14:04 Source
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MacroBusiness Thursday, December 5, 2024 - 14:00 Source

Sydney restauranteurs have urged the federal government to increase immigration to alleviate the alleged labour shortages in the industry. “A report released by Business NSW on Wednesday found eight in 10 businesses have had to boost pay or offer better conditions over the past year to stay competitive in the battle for skilled workers”, The

The post Restauranteurs demand visa slaves appeared first on MacroBusiness.

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Renew Economy Thursday, December 5, 2024 - 13:57 Source
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