Blogotariat

Oz Blog News Commentary
The Australian Independent Media Network Wednesday, February 28, 2024 - 12:22 Source

The silly will make print and leave bursts of digital traces; the idiots will make history, if only in small print. One such figure is the shortest serving UK Prime Minister in living memory, the woeful, joke-packed figure of Liz Truss who lasted a mere 50 disastrous days in office. She was even bettered by…

The post Trussonomics at CPAC appeared first on The AIM Network.

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MacroBusiness Wednesday, February 28, 2024 - 12:15 Source

The Reserve Bank of New Zealand has gone against the forecasts of ANZ and TD Securities and chosen to hold the official cash rate (OCR) at 5.50% at Wednesday’s monetary policy meeting. In its statement accompanying its decision, the Reserve Bank noted that “core inflation and most measures of inflation expectations have declined, and the

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MacroBusiness Wednesday, February 28, 2024 - 12:00 Source

Like clockwork. If you won’t supply enough gas, then the power network melts down into a cascade of baseload failures as coal power ages: Daily wholesale power prices are now frequently double those of energy-poor Europe. The quarterly moving average of wholesale power costs id 80-90% higher than it should be. Why? When demand is

The post Albo’s summer energy shock explodes appeared first on MacroBusiness.

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MacroBusiness Wednesday, February 28, 2024 - 11:45 Source

The Australian Bureau of Statistics (ABS) has released its monthly inflation indicator for January, which posted a 3.4% rise over the year, well below economists’ expectations of a 3.6% rise. The most significant price rises were Housing (+4.6%), Food and non-alcoholic beverages (+4.4%), Alcohol and tobacco (+6.7%) and Insurance and financial services (+8.2%). Housing, which

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MacroBusiness Wednesday, February 28, 2024 - 11:30 Source

On Tuesday night, I was interviewed by Sky News host Sharri Markson where I demolished the Australian Treasury’s claim that wage growth was driving Australia’s inflation. Below are highlights along with key charts backing my claims. Leith van Onselen: The Treasury has got it wrong here. Australian wages only grew by 0.1% more than headline

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The Australian Independent Media Network Wednesday, February 28, 2024 - 11:11 Source

Climate Council Media Release AUSTRALIAN CAPITAL CITIES are set to swelter through twice as many days above 35°C by the end of the century, a detailed analysis from the Climate Council has found. But there’s hope: reducing climate pollution globally now could slash the number of scorching days by an average of 20 percent across…

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MacroBusiness Wednesday, February 28, 2024 - 11:00 Source

The YIMBY movement claims that if Australia simply relaxed zoning and planning rules and let developers build apartments wherever they wanted, Australia’s housing crisis would magically resolve. Their argument was demolished by an article published this month in the Daily Telegraph, which reported that “almost one billion dollars worth of housing in one of Sydney’s

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MacroBusiness Wednesday, February 28, 2024 - 10:30 Source

If you believe Australia is a Ponzi economy, spare a thought for Canada. Canada’s population surged by more than 1.2 million people last year, driven almost entirely by net overseas migration: This population surge has created a diabolical shortage of housing across Canada: With housing starts failing miserably to keep pace with population growth: In

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MacroBusiness Wednesday, February 28, 2024 - 10:00 Source

I agree with this. The Market Ear. 1995 We ran the 1999 analogy chart last year which worked well for big parts of the year. Is 2024 all about the 1995 set up from here? Refinitiv Party like it’s 1995? IT driven productivity growth In the mid-90s, the first wave of IT-driven productivity growth allowed

The post 1995 not 1999 for stocks appeared first on MacroBusiness.

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MacroBusiness Wednesday, February 28, 2024 - 09:30 Source

For now, anyway, Dalian iron ore futures are trying to hold at the 30DMA: Just as coking coal has: Bouncing off such levels does suggest speculative behaviour. But the rumour mills are still pretty gloomy: Some Chinese steelmakers have postponed plans to resume production amid pressure from poor steel margins or even losses, analysts at

The post Iron ore bottoms appeared first on MacroBusiness.

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MacroBusiness Wednesday, February 28, 2024 - 09:00 Source

Equities were the only markets with any decent movement overnight as bonds and currencies held fast as they await more important economic data later in the week. Wall Street bounced back and European shares followed suit while the Australian dollar was again stuck at the mid 65 cent level. 10 year Treasury yields lifted slightly

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Wednesday, February 28, 2024 - 08:30 Source

I still don’t think that this will succeed with Albo’s poltroons, but a backfire would be useful: The Greens have told Labor that leaving negative gearing unchanged for existing property investors while winding back the tax break for new entrants could be part of a deal to get the minor party’s support for the Albanese

The post Greens corner Albo on negative gearing appeared first on MacroBusiness.

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