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MacroBusiness Wednesday, March 13, 2024 - 00:05 Source

In May 2023, Yahoo News published a disturbing report on the growing homelessness epidemic sweeping Brisbane, which has seen tent encampments mushroom at local parks. In December, Yahoo News published a follow-up report claiming that “Aussie’s rental crisis is now at ‘disaster levels'”, with people sleeping in cars, tents, and insecure accommodations. The report featured

The post Tent cities mushroom across Australia appeared first on MacroBusiness.

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MacroBusiness Tuesday, March 12, 2024 - 17:00 Source

Asian share markets are putting in very mixed sessions as the trading week continues with currency markets also reducing in volatility before tonight’s US inflation print. Wall Street is looking to open slightly higher despite the mixed start overnight while the USD is finding lost ground. The Australian dollar is feeling this rebound as well

The post Macro Afternoon appeared first on MacroBusiness.

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The Australian Independent Media Network Tuesday, March 12, 2024 - 16:46 Source

The liberal international order has been responsible for a great many deaths. If the “anti-liberal internationale” becomes ascendant, however, we will see those numbers multiplied exponentially. It is not a stretch to say that the Liberal Party’s campaign in the Dunkley by-election places them firmly in the illiberal category. This is hardly surprising since several…

The post Illiberalism: the Dunkley by-election and the cost of doing business appeared first on The AIM Network.

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The Australian Independent Media Network Tuesday, March 12, 2024 - 15:55 Source

Independent Tertiary Education Council Australia (ITECA) Media Release A new assessment of skills training across remote, rural and regional Australia highlights the complementarity of independent Registered Training Organisations (RTOs) and public TAFE colleges. The 2024 Remote, Rural and Regional Skills Training Snapshot is published by the Independent Tertiary Education Council Australia (ITECA), the peak body…

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Your Democracy Tuesday, March 12, 2024 - 15:48 Source

Mary Kostakidis and Quentin Dempster explore the Australian mainstream media’s blind eyes on the humanitarian catastrophe now unfolding in Gaza.

This vodcast was recorded on March 11 2024 following the referral of the Australian Government to the International Criminal Court and the International Court of Justice’s conditional ruling on South Africa’s submitted evidence of IDF “genocide” of Palestinians.

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The Tally Room Tuesday, March 12, 2024 - 15:18 Source

The trend of voters choosing to cast their votes has been progressing for a long time, but there was a major shift in 2020, when the COVID-19 pandemic moved a lot more voters away from casting their votes on election day.

The 2020 Queensland council elections were the first elections in Australia after the start of the pandemic, and there was a massive change in how people voted.

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Renew Economy Tuesday, March 12, 2024 - 15:05 Source
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Renew Economy Tuesday, March 12, 2024 - 14:53 Source
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Renew Economy Tuesday, March 12, 2024 - 14:42 Source
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Renew Economy Tuesday, March 12, 2024 - 14:36 Source
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Cheeseburger Gothic Tuesday, March 12, 2024 - 14:20 Source

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MacroBusiness Tuesday, March 12, 2024 - 14:00 Source

Treasurer Jim Chalmers has announced the federal government will make sensible changes to the petroleum resource rent tax (PRRT). The federal government is hoping to secure opposition support for its legislation to toughen the PRRT which is aimed at raising an extra $2.4 billion over four years. The Greens want that amount doubled and an

The post Dumb Coalition blocks sensible resources tax reform appeared first on MacroBusiness.

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MacroBusiness Tuesday, March 12, 2024 - 13:30 Source

The big one for tomorrow via Goldman Sachs. We expect a 0.32% increase in February core CPI (vs. 0.3% consensus), corresponding to a year-over-year rate of 3.71% (vs. 3.7% consensus). We expect a 0.44% increase in February headline CPI (vs. 0.4% consensus), which corresponds to a year-over-year rate of 3.15% (vs. 3.1% consensus). Our forecast

The post US CPI preview appeared first on MacroBusiness.

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Renew Economy Tuesday, March 12, 2024 - 13:24 Source
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MacroBusiness Tuesday, March 12, 2024 - 13:00 Source

A report written by former ACCC chairman Allan Fels and transport expert David Cousins warns that Sydney motorists are being bled dry by Transurban and has urged the NSW government to wrestle control of the state’s toll roads. Transurban controls 11 of NSW’s 13 toll roads, each of which were negotiated on a different contract

The post Transurban bleeds Sydney motorists dry appeared first on MacroBusiness.

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MacroBusiness Tuesday, March 12, 2024 - 12:30 Source

He is the Fake Greens gas guzzler: Climate-warrior and Greens leader Adam Bandt has been slugging taxpayers just short of a million dollars in expenses in a single year, including spending $204,000 on printing costs. Also on his eyebrow-raising expenses were $23,000 on two private jet flights and another $12,000 on a government-provided vehicle and

The post Fake Greens leader gas guzzles to power appeared first on MacroBusiness.

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The Australian Independent Media Network Tuesday, March 12, 2024 - 12:16 Source

It was praised to the heavens as a work of negotiated and practical genius when it was struck. The then Australian treasurer, Josh Frydenberg, had finally gotten those titans of Big Tech into line on how revenue would be shared with media outlets for using such platforms as supplied by Facebook and Google.  Both companies…

The post Matters of Revenue: Meta Abandons Australia’s Media Stable appeared first on The AIM Network.

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The Australian Independent Media Network Tuesday, March 12, 2024 - 12:06 Source

The steady and ruthless campaign by Israel to internationally defund the UN Relief and Works Agency for Palestine Refugees in the Near East (UNRWA), is unravelling. The lynchpin in the effort was a thin, poison pen dossier making claims that 12 individuals were Hamas operatives who had been involved in the October 7 attacks. Within…

The post Aid Wars over Gaza: Resuming Funding to UNRWA appeared first on The AIM Network.

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MacroBusiness Tuesday, March 12, 2024 - 12:00 Source

The December quarter national accounts release from the Australian Bureau of Statistics (ABS) implied that Australia’s population increased by 680,000 in 2023, on the back of record high net overseas migration. The impact of this surge in population has been devastating for tenants, with rental vacancy rates collapsing across Australia: Asking rents have also rocketed

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Renew Economy Tuesday, March 12, 2024 - 11:32 Source
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MacroBusiness Tuesday, March 12, 2024 - 11:30 Source

Alex Joiner, chief economist at IFM Investors, has published an excellent research note on Australia’s “per capita malaise”. Joiner noted that “population growth is the key driver of growth and without it the economy would be in recession”.  This is evidenced by a “fourth consecutive reversal in per capita growth GDP (1.0%yoy lower)”, which is

The post Unemployment holds key to RBA interest rates appeared first on MacroBusiness.

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Renew Economy Tuesday, March 12, 2024 - 11:12 Source
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MacroBusiness Tuesday, March 12, 2024 - 11:00 Source

The AFR reported on Friday that Victoria’s state government debt has blown out by another $11.7 billion to more than $126 billion. Global ratings agency S&P also warned that Victoria is on track to almost double its debt by 2027 to $247.2 billion. At that level, Victoria’s interest bill may exceed $33 million per day,

The post Victoria is a financial basket case appeared first on MacroBusiness.

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Your Democracy Tuesday, March 12, 2024 - 10:44 Source

BEATBEAT

I’m an Australian-Ukrainian researcher and I moved back to Kyiv from Sydney in 2022 after the full-scale Russian invasion. My life in a war zone has given me the chance to witness firsthand Russia’s brutality and Ukraine’s limitless bravery. 

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MacroBusiness Tuesday, March 12, 2024 - 10:30 Source

The December quarter national accounts release from the Australian Bureau of Statistics (ABS) revealed that real household consumption fell by 2.5% in per capita terms in 2023: Last week, the Australian Bureau of Statistics (ABS) released its household spending indicator for January, which revealed that household spending rose by 3.0% in nominal terms over the

The post Baby boomers increase their financial war chest appeared first on MacroBusiness.

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Your Democracy Tuesday, March 12, 2024 - 10:11 Source

As the lead managers of the Great Barrier Reef, the Reef Authority keeps an eye on the Reef year-round — with efforts stepped up over summer, a typically high-risk period from extreme weather.

Over summer the Reef Authority releases weekly updates on how the Reef is faring with a focus on sea surface temperatures, rainfall and floods, cyclones, crown-of-thorns starfish outbreaks, and coral disease.

 

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MacroBusiness Tuesday, March 12, 2024 - 10:00 Source

Here is the chart from the ACCC monthly series, which has gas netback prices at $11.03Gj: While Australians pay $11.88Gj: And in a direct consequence, electricity prices soar: Crickets from Canberra and the press as usual while Treasurer Jim “Chicken” Chalmers chases chump change: Woodside chief executive officer Meg O’Neill has backed the swift passage

The post ACCC: Australia paying more than anybody for own gas appeared first on MacroBusiness.

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MacroBusiness Tuesday, March 12, 2024 - 09:30 Source

The Market Ear on the stretched bull. NASDAQ at key levels NASDAQ is down to the steep trend line that has been in place since November. The index is basically flat over the past month, despite the bullish “feeling”. The negative RSI divergence remains something we watch closely as we have seen these type of

The post Stocks do not only go up! appeared first on MacroBusiness.

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MacroBusiness Tuesday, March 12, 2024 - 09:00 Source

Overnight saw most markets pull back in volatility as they absorbed the latest US unemployment numbers from Friday night’s NFP print which came in softer than expected although USD was able to stabilise somewhat. Wall Street tried to recover but tech stocks dragged it down while European shares also lost momentum. The Australian dollar has

The post Macro Morning appeared first on MacroBusiness.

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Renew Economy Tuesday, March 12, 2024 - 08:56 Source
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