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The Australian Independent Media Network Tuesday, December 3, 2024 - 08:35 Source

Australian Charities and Not-for-profits Commission Media Release This giving season, Australians are being warned to watch out for fake charity appeals. The Australian Charities and Not-for-profits Commission (ACNC) is warning that scammers often try to take advantage of our generosity at this time of year, as we celebrate the festive season. Commissioner Sue Woodward AM…

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Your Democracy Tuesday, December 3, 2024 - 07:34 Source

In finalising his cabinet, Donald Trump has come to resemble an American Caligula, the Roman emperor rumoured to have considered appointing his beloved stallion as consul. So unorthodox have been the president-elect’s appointments that I half expected him to nominate his golf cart as the new transportation secretary.

 

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MacroBusiness Tuesday, December 3, 2024 - 07:29 Source

DXY is back. Consolidation over! AUD is barely clinging to the cliff’s edge. As CNY lets go. JPY will roll next. Gold and oil despair. Dirt too. Miners meh. EM yawn. Junk isn’t happy. As the curve re-inverts. Stocks to the fricken’. Whether or not the DXY consolidation is done, I will leave it to

The post Australian dollar tumbles into yuan crater appeared first on MacroBusiness.

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MacroBusiness Tuesday, December 3, 2024 - 07:00 Source

On Monday, the Melbourne Institute (MI) monthly inflation gauge was released, which showed that inflationary pressure remained well contained in November. As Justin Fabo at Antipodean Macro illustrates below, MI trimmed mean inflation increased by only 0.2% in October but rebounded to 0.5% on a quarterly basis. The following chart from Fabo suggests that “the

The post More good news for inflation and RBA appeared first on MacroBusiness.

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Cheeseburger Gothic Tuesday, December 3, 2024 - 06:54 Source

I don’t normally do this here, but these fucking bagels are the bomb. They’re from NZ. They taste great. But the nutritional deets on them are insane. 10g of protein and 17g of fibre in every bagel. That’s madness. You could slather one of these bad boys in cream cheese and blueberry jam and still call it a health snack.

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Your Democracy Tuesday, December 3, 2024 - 06:39 Source

Social media company Meta has accused the Australian government of rushing to introduce an under-16 social media ban without properly considering the evidence and voices of young people.

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Renew Economy Tuesday, December 3, 2024 - 06:35 Source
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Your Democracy Tuesday, December 3, 2024 - 06:13 Source

Thousands of Volkswagen workers in Germany went on strike on Monday after the company announced plans to close three plants and slash pensions. 

"Warning strikes will begin Monday in all plants," said Thorsten Gröger, who is leading the union negotiations with German auto giant.

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Your Democracy Tuesday, December 3, 2024 - 05:47 Source

Joe Biden delivers ‘tremendous favour’ to Donald Trump with Hunter Biden pardon

https://www.youtube.com/watch?v=FlooGkT2fMU

 

US President Joe Biden has done a “tremendous favour” for President-elect Donald Trump by pardoning Hunter Biden, claims United States Studies Centre’s Dr Harry Melkonian.

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MacroBusiness Tuesday, December 3, 2024 - 00:10 Source

A nation swimming in coal and natural gas should never experience energy insecurity, blackouts, and soaring prices. Yet it’s not even the peak of summer, and NSW narrowly avoided blackouts last week thanks to households and business owners turning off washing machines, air conditioners, and other appliances. The state and other parts of Australia are

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Renew Economy Monday, December 2, 2024 - 22:33 Source

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Your Democracy Monday, December 2, 2024 - 17:44 Source

We stand at a critical juncture in human history, where the decisions we make today will determine whether humanity continues to exist—or falls to the inevitability of its own hubris. Nuclear annihilation, environmental collapse, and societal breakdown are not looming threats but present realities. These crises are the culmination of centuries of systems and values built not for human flourishing but for domination, consumption, and despair.

 

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MacroBusiness Monday, December 2, 2024 - 17:00 Source

Asian stock markets are generally positive for the first session of the trading week after a strong Friday night lead and some somewhat positive macro news over the weekend, although currencies have gapped lower against a resurgent USD. Euro is dicing with the 1.05 handle again while the Australian dollar also suffered a drop, now

The post Macro Afternoon appeared first on MacroBusiness.

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The Australian Independent Media Network Monday, December 2, 2024 - 16:46 Source

By Denis Hay Description Politics for the people. Transform Australian politics into a citizen-first system using monetary sovereignty. Explore reforms for ethical and fair governance. Introduction: A System in Need of Transformation Australia’s political system often prioritises corporate interests over citizen welfare. Many Australians feel disillusioned by a system that seems more focused on profits…

The post Politics for the People: A Vision for Australia appeared first on The AIM Network.

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The Australian Independent Media Network Monday, December 2, 2024 - 15:50 Source

Australian Council of Social Service (ACOSS) Media Release ACOSS welcomes the changes to the way the Reserve Bank sets interest rates as part of the RBA Reform Bill that passed into law last week. The new rules entrench a ‘dual mandate’ for the RBA – to contribute to full employment and price stability – without…

The post ACOSS welcomes RBA reforms and calls for RBA to prioritise jobs as well as curbing inflation appeared first on The AIM Network.

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Renew Economy Monday, December 2, 2024 - 15:06 Source
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Renew Economy Monday, December 2, 2024 - 14:58 Source
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Your Democracy Monday, December 2, 2024 - 14:33 Source

Ukrainians who have died in the conflict between Moscow and Kiev “have already won,” Vladimir Zelensky claimed in an interview with Sky News released this week. Those sacrifices enabled Kiev to secure aid from its Western backers and eventually prevent Moscow from achieving its goals, according to the Ukrainian leader.

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MacroBusiness Monday, December 2, 2024 - 14:00 Source

Earlier this year, The AFR posted the following chart showing how Australia has benefited the most from global commodity prices over the last 20 years: On Friday, Justin Fabo at Antipodean Macro posted the following chart showing mining companies’ massive profits in Australia. As you can see, mining profits jumped from around $30 billion per quarter

The post Imagine if Australia taxed resources properly appeared first on MacroBusiness.

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MacroBusiness Monday, December 2, 2024 - 13:30 Source

Treasurer Jim “chicken” Chalmers has injected a whole new level of uncertainty into interest rates. His tax and spend economy has hoodwinked the RBA (not that that was hard). His immigration obsession has led the RBA backwards to its misunderstanding of wages from the last cycle. His energy rebates have paralysed monetary policy expectations. Now,

The post Chicken Chalmers wrecks RBA appeared first on MacroBusiness.

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MacroBusiness Monday, December 2, 2024 - 13:00 Source

The Australian Bureau of Statistics (ABS) today released retail sales data for October, which posted a third consecutive rise. As illustrated in the table below from Alex Joiner, chief economist at IFM Investors, retail sales rose by 0.6% in October to be 3.4% higher year-on-year. The 0.6% rise in October follows growth of 0.1% in

The post Will retail sales spook the RBA? appeared first on MacroBusiness.

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MacroBusiness Monday, December 2, 2024 - 12:30 Source

The Market Ear with the bull. Imminent upside risk? All bigger moves lower in the AAII bull-bear spread have been followed by the SPX moving higher. Is this the next “pain” trade, especially as SPX hasn’t even retraced during the latest sentiment “puke”? Refinitiv Must have Record 4-week inflow to US equity funds. BofA Now

The post Stocks ramp into Santa appeared first on MacroBusiness.

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Renew Economy Monday, December 2, 2024 - 12:26 Source
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Renew Economy Monday, December 2, 2024 - 12:25 Source
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Renew Economy Monday, December 2, 2024 - 12:02 Source
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MacroBusiness Monday, December 2, 2024 - 12:00 Source

Economists at the National Bank of Canada (NBC) produced the following chart showing how “since 2021, there has been a significant imbalance between the strong increase in population and the absence of a significant rebound in construction”. “This has contributed to a deterioration in affordability in both the rental and resale markets, and has led

The post Aussie bedrooms turn dormitories appeared first on MacroBusiness.

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MacroBusiness Monday, December 2, 2024 - 11:30 Source

The Climate Change Authority’s (CCA) latest annual progress report has revealed that emissions fell by 3 million tonnes of CO2 over 2023–24, which is a fifth of the 15 million tonnes needed to be cut annually to hit the federal government’s target of emissions falling 43% on 2005 levels by 2030. The CCA states that

The post Face facts: Australia cannot meet its emissions targets appeared first on MacroBusiness.

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MacroBusiness Monday, December 2, 2024 - 11:00 Source

Australia’s ability to feed itself, build houses, talk about itself, and even wipe its arse is being destroyed by the East Coast gas export cartel. From breakfast staples to bathroom supplies, the price you pay for goods to run a home are soaring upwards, hastened by energy costs. …Homestyle Bake, which supplies Queensland supermarkets, schools,

The post Energy superidiot begins to die appeared first on MacroBusiness.

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xkcd.com Monday, December 2, 2024 - 11:00 Source

The growth rate of items per day may may seem absurd, but it's actually much less than the acceleration in the 12 Days of Christmas song.

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Your Democracy Monday, December 2, 2024 - 10:34 Source

Social media companies on Friday criticized Australia's decision to ban them from allowing children under 16 to use their platforms, saying the move has left "many unanswered questions."

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