Blogotariat

If I were attorney-general of the Commonwealth after Saturday’s election there is one person I would seek to emulate, the Whitlam era’s Lionel Murphy.

Murphy, the most reformist attorney-general in Australian history. Think legal aid, the Family Law Act, trade practices legislation and an attempt to pass a human rights act. His brief period in office, 1972 to early 1975, when he took up a seat on the High Court, was impressive in its scope.

US National Security Adviser Mike Waltz has been fired, Fox News reported on Thursday, citing its sources. The White House has not made any public comments on the issue.

Canada’s April 28 federal election was dominated by Trump’s global trade war and his vow to use “economic force” to transform Canada into America’s 51st state. 

After a campaign in which all the parties trumpeted bellicose Canadian nationalism, the Liberals, under their recently-minted leader, the former central banker and blue-chip corporate executive Mark Carney, were able to retain power.

Risk markets are still running on hopium as US officials admit there’s no talking going on whatsoever with China (who are having a week long holiday anyway – call back later Donny!) while the Bank of Japan held fire in today’s meeting which sent Yen selling off and stocks lifting higher. The latest trade data

The post Macro Afternoon appeared first on MacroBusiness.

The UK has begun to support the US in attacking Yemen’s Houthi militia. The British Ministry of Defense said on Wednesday its forces had conducted joint airstrikes against what it claimed was a Houthi-controlled military facility.

AEMO says there is "no going back" to a baseload and peaking power system, but for the moment prefers spinning machines over battery inverters for system security.

I cannot compete with chosen mediocrity

Mutters my friend who has not entered the prizes

Where for the first time in human history

The director and the curator being shemales

More women than men have been represented

Proudly chosen as the website emphasises

(The commentary may be conjuring lesbian trails)

For the best and worst portraits in the gallery

And for the best meaningless landscapes 

Professor Peter McDonald is Australia’s leading flip-flopper on immigration (for example, see here, here and here). In 1999, Peter McDonald co-authored a parliamentary research paper, which concluded that it is “demographic nonsense to believe that immigration can help to keep our population young”, claimed that “levels of annual net migration above 80,000 become increasingly ineffective

Ferrous complex no bueno. Strangely, the indicators are going the other way, with the steel PMI firming. And other marginal indicators like steel order books doing OK too. Goldman. Commentary on 2025 sales stabilization is becoming more prevalent, albeit divergent across players: (i)A key pillar of the steel structure sector order growth turning positive in

The post Iron ore no beuno appeared first on MacroBusiness.

Billionaire Meriton founder ‘Highrise’ Harry Triguboff is the master of manipulation. For decades, Triguboff has persuaded politicians to implement policies favourable to his financial interests, including mass immigration. The interview below from 2006 illustrates this point, with Triguboff arguing that Sydney’s population needed to reach 20 million by 2050, with Australia’s population at 150 million.

According to CoreLogic’s April home value index, Melbourne is the nation’s cheapest major capital city property market. Melbourne’s median dwelling value was $786,158 at the end of April 2025, $119,605 (13% lower) than the national capital city median. The improved affordability of Melbourne’s housing market comes after five years of relative stagnation. As seen in

The Market Ear on the rally. Not too bad The 6 day SPX streak has actually been rather impressive. As John Flood writes: “Since 1970, S&P 500 up 6 days in a row with returns of over 7% has only happened 12 times. Post yesterday’s close we locked in # 13. We are due for a

The post Rallying on fumes appeared first on MacroBusiness.