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MacroBusiness Wednesday, January 17, 2024 - 11:00 Source

After Australia’s net overseas migration (NOM) hit a record high of 518,000 in the 2022-23 financial year, there are signs that immigration may finally be easing. On Tuesday, the Australian Bureau of Statistics (ABS) released monthly arrivals and departures data, which showed that 84,150 net long-term arrivals landed in Australia over the November quarter, which

The post Australia hits peak immigration appeared first on MacroBusiness.

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xkcd.com Wednesday, January 17, 2024 - 11:00 Source

For decades I've been working off the accumulated rotation from one long afternoon on a merry-go-round when I was eight.

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Renew Economy Wednesday, January 17, 2024 - 10:37 Source

public swimming pool

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MacroBusiness Wednesday, January 17, 2024 - 10:30 Source

Pavlov’s dog (AKA Bloomberg) loves it, but should you? China is considering 1 trillion yuan ($139 billion) of new debt issuance under a so-called special sovereign bond plan, only the fourth such sale in the past 26 years, as authorities seek more money to finance intensifying efforts to shore up the world’s second-largest economy. The

The post China fights growth ebb tide with stimulus broom appeared first on MacroBusiness.

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Renew Economy Wednesday, January 17, 2024 - 10:25 Source

floating offshore wind

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MacroBusiness Wednesday, January 17, 2024 - 10:00 Source

A few months ago, Goldman flipped bullish iron ore after being bearish all year. Today, they stick to that by ignoring their own data.  Seasonal consolidation. The near 50% rally in iron ore prices over H2 last year has partially reversed so far in 2024. We view this current phase of price pressure as primarily

The post Iron ore market turns materially more bearish appeared first on MacroBusiness.

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MacroBusiness Wednesday, January 17, 2024 - 09:30 Source

DXY is off to the races: AUD massacre: That giant sucking sound you can hear is north Asian capital flows: Oil and gold will get hit if it runs: Dirt yawn: Big miners bloodletting: EM too: Junk unconcerned: Yields up: Stocks down: The Fed has pushed back against early rate cuts: Wall Street traders pared

The post Australian dollar massacred by Fed appeared first on MacroBusiness.

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MacroBusiness Wednesday, January 17, 2024 - 09:00 Source

The return of US traders to their desks on Wall Street overnight did not calm risk markets with further falls in European shares and the Australian dollar, which broke through the 66 cent level.  The USD continued to strengthen against most of the majors with Euro now below the 1.09 handle. US bond markets reopened

The post Macro Morning appeared first on MacroBusiness.

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Your Democracy Wednesday, January 17, 2024 - 07:55 Source

The US Federal Aviation Administration (FAA) has placed “special emphasis” on hiring employees with a “severe intellectual disability” and other serious conditions, and has tasked managers with skipping these candidates to the top of the queue for jobs, according to the agency’s website.

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Cheeseburger Gothic Wednesday, January 17, 2024 - 06:17 Source

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Your Democracy Wednesday, January 17, 2024 - 05:30 Source

Iraqi security sources are warning of an ISIS revival in the country, which coincides all too neatly with the spike in Iraqi resistance operations against US bases in Iraq and Syria, and with widening regional instability caused by Israel's military assault on Gaza. 

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Your Democracy Wednesday, January 17, 2024 - 05:00 Source

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Your Democracy Wednesday, January 17, 2024 - 04:40 Source

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MacroBusiness Wednesday, January 17, 2024 - 00:05 Source

Several economists interviewed by SBS News have warned that Australia is unable to build enough homes for its burgeoning population, which means the rental crisis will continue for several more years. Associate professor J Ho from the School of Accounting, Economics and Finance at Curtin University warned that the “effective supply of housing is unlikely

The post Australia’s housing math doesn’t add up appeared first on MacroBusiness.

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The Australian Independent Media Network Tuesday, January 16, 2024 - 19:26 Source

As Australia approaches that time in January again, we see the unedifying picture of Peter Dutton’s team driving his post-referendum Base into a flag-waving orgy of aggrieved patriotism. He has decided to conduct an attack on Woolworths over a commercial decision that Australia Day merchandise was not popular. Dutton is whipping up the contingent which…

The post Lessons from the USA about patriotic beat-ups appeared first on The AIM Network.

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MacroBusiness Tuesday, January 16, 2024 - 17:00 Source

Its a sea of red across Asian share markets with the lack of a positive lead from a closed Wall Street overnight combined with big slumps in Chinese shares sending risk markets lower. A slightly stronger USD isn’t helping either with the Australian dollar falling down throughout today’s session, about to break below the 66

The post Macro Afternoon appeared first on MacroBusiness.

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Renew Economy Tuesday, January 16, 2024 - 17:00 Source

rooftop solar UK

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Your Democracy Tuesday, January 16, 2024 - 16:59 Source

MOSCOW (Sputnik) - Republican presidential primary candidate Vivek Ramaswamy has decided to suspend his campaign.

Ramaswamy has already notified his team of his decision.

 

"I have made the decision to withdraw from the presidential race," Ramaswamy said.

 

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Cheeseburger Gothic Tuesday, January 16, 2024 - 16:54 Source

I’ve been reading Pax, Tom Holland’s awesome history of Rome’s ‘Golden Age’, the two centuries beginning in AD 69, with the Empire teetering on the edge of collapse and civil war. It’s heaps good.

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Renew Economy Tuesday, January 16, 2024 - 15:49 Source

nuclear power plant

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The Australian Independent Media Network Tuesday, January 16, 2024 - 14:47 Source

By Martha Knox-Haly   From April 2023 to October 2023, Australian voters were subjected to an unprecedented social media disinformation campaign around the Voice to Parliament Referendum. The Voice to Government was supported by Scott Morrison in 2017, and it had enjoyed the steady support of the majority of Australian voters several years. The proposal was…

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The Australian Independent Media Network Tuesday, January 16, 2024 - 14:15 Source

There is something distinctly revolting and authoritarian about the royal prerogative. It reeks of clandestine assumption, unwarranted self-confidence and, most of all, a blithe indifference to accountability before elected representatives. That prerogative, in other words, is the last reminder of divine right, the fiction that a ruler can have powers vested by an unsubstantiated deity,…

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MacroBusiness Tuesday, January 16, 2024 - 14:00 Source

This is pathetic. Rather than show leadership and decisive foreign policy objectives, Albo’s Wongky missile landed in the middle east and exploded at home: While the Greens and pro-Palestinian advocates demanded Wong forcefully insist upon a ceasefire during her trip, the Coalition and pro-Israel supporters condemned the government for not backing Israel’s defence against genocide charges in

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MacroBusiness Tuesday, January 16, 2024 - 13:30 Source

A new Albo has emerged from the chrysalis of failure in 2023: Mr Albanese said Treasury and the Department of Finance continued to provide suggestions on cost-of-living relief that could be provided without undermining the government’s priority of fighting inflation. While cash handouts are off the table, other measures, such as further rebates for household

The post Alboflation corners Albo on Stage 3 tax cuts appeared first on MacroBusiness.

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The Australian Independent Media Network Tuesday, January 16, 2024 - 13:30 Source

(OOPS. Ignore the previous email). DON’T CLICK ON “READ MORE OF THIS POST” when you receive an email from us after a new article is published, as the link is temporarily glitching. CLICK ON “COMMENT” instead, and it will take you to the article. Updates will be posted in the comments section on our site.…

The post Let’s try that again (message to our email subscribers) appeared first on The AIM Network.

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MacroBusiness Tuesday, January 16, 2024 - 13:00 Source

Late last year, The Australia Institute complained that Australia was badly missing its 43% carbon reduction target by 2030 on the path to ‘net zero’ by 2050: I have argued repeatedly that Australia has no hope of meeting its net zero target so long as it continues to grow its population like a science experiment

The post Australia’s impossible ‘net zero’ challenge appeared first on MacroBusiness.

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Your Democracy Tuesday, January 16, 2024 - 12:42 Source

Shapps spoke at Lancaster House in London about the UK’s place in a “more dangerous world.” He painted Britain as a leading global military and industrial power, without once mentioning the US. 

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MacroBusiness Tuesday, January 16, 2024 - 12:40 Source

More gloomy data for Aussie workers. Job ads are still trending lower: ANZ-Indeed Australian Job Ads edged up 0.1% m/m in December but is down 17.5% from the November 2022 peak. NSW and Vic experienced much larger declines than other states/territories in 2023. Corroborated by SEEK: “For only the third time in 18 months, job

The post Aussie workers overrun by foreign job applicants appeared first on MacroBusiness.

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Renew Economy Tuesday, January 16, 2024 - 12:23 Source

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MacroBusiness Tuesday, January 16, 2024 - 12:20 Source

Westpac with the note. The Westpac Melbourne Institute Consumer Sentiment Index declined 1.3% to 81 in January from 82.1 in December. For consumers, the new year looks to have picked up where the old one left off: cost of living and high interest rates continuing to dominate and sentiment bumping around deeply pessimistic levels. The

The post Aussie consumer’s new year resolution: stay depressed appeared first on MacroBusiness.

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