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Oz Blog News Commentary
MacroBusiness Tuesday, July 23, 2024 - 11:30 Source

Alas, this was so predictable: Resources Minister Madeleine King warned that Greens leader Adam Bandt’s plan to demand legislation in a minority parliament restricting LNG export contracts would destabilise international relations and trash Australia’s global reputation. “It’s somewhat ironic that in proposing to tear up Australia’s long-term export contracts, the Greens political party proposes to

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Your Democracy Tuesday, July 23, 2024 - 11:22 Source

If you are one of the world's two superpowers and you receive a clear and specific challenge from the other power, essentially a threat to your existence, how do you respond? China did it in an unexpected and very Chinese way. Basically: which of us is stronger, difficult to say, but we are smarter and therefore we will win.

 

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Your Democracy Tuesday, July 23, 2024 - 11:07 Source

After one year of operation, the National Anti-Corruption Commission has spent $65 million on organising itself, pretty presentations, and rejecting submissions of obvious corruption. What’s the scam?

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MacroBusiness Tuesday, July 23, 2024 - 11:00 Source

The Economist has published another immigration propaganda article warning of dire economic consequences if rich nations dial back on record immigration. The article notes that “in the past three years 15 million people have moved to rich countries, the biggest surge in modern history (see chart 1)”. The Economist then claims that “some anti-immigration measures…

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MacroBusiness Tuesday, July 23, 2024 - 10:30 Source

PropTrack has released its rental market report for the June quarter, which showed persistently strong demand for rentals amid limited supply. National advertised rents were unchanged over the June 2024 quarter, remaining at $600 per week: Over the 12 months to June 2024, national advertised rents increased by 9.1%, or an additional $50 per week.

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MacroBusiness Tuesday, July 23, 2024 - 10:00 Source

The Third Plenum is a bust so far for stimulus: China’s ruling Communist Party pledged to accelerate a new housing model that emphasizes renting and ramps up affordable homes, following a record property slump. The party’s Central Committee said the new model will promote both renting and buying, in line with its call made since 2017, according

The post China “pushes on a string” appeared first on MacroBusiness.

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MacroBusiness Tuesday, July 23, 2024 - 09:30 Source

Shanghai rebar held on for the day but SGX futures did not: Mad Dalian is breaking through the 800 barrier: Coking coal is stuffed: All charts have the same bearish descending triangle pattern right at critical support. UBS has a couple more charts that illustrate what is going on in very strait forward terms. Demand

The post Iron ore breaking down appeared first on MacroBusiness.

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MacroBusiness Tuesday, July 23, 2024 - 09:00 Source

It was buy the dip lucky strike overnight following the US political volatility that was absorbed with aplomb with tech stocks leading the way on Wall Street overnight, but also a resurgence in European shares as they try to reverse their recent slump. The USD moved across the board with Yen appreciating while Aussie and

The post Macro Morning appeared first on MacroBusiness.

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The Australian Independent Media Network Tuesday, July 23, 2024 - 07:27 Source

The Australian College of Nursing (ACN) has developed a new Position Statement on Artificial Intelligence (AI). This Position Statement aims to provide nurses with an understanding of the core principles to safely navigate using AI, recognising the pivotal and important role of AI, and acknowledging the role AI will play in the contemporary healthcare setting…

The post AI has the potential to transform nursing appeared first on The AIM Network.

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MacroBusiness Tuesday, July 23, 2024 - 07:00 Source

The Reserve Bank of Australia (RBA) has published a Bulletin article entitled “Recent Drivers of Housing Loan Arrears”. To nobody’s surprise, the RBA found that “highly leveraged borrowers have been most likely to fall into arrears since 2022, consistent with their generally higher arrears rates and greater vulnerability to challenging economic conditions”. “This largely reflects

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MacroBusiness Tuesday, July 23, 2024 - 05:44 Source

DXY firmed last night: AUD was thrashed lower: Much of the damage was done earlier in the day by the PBoC rate cut, an ominous signal for Trump tariffs: Oil fell, gold firmed: The copper bubble is a laugh a minute: Big miners are in big trouble: EM stocks popped: Junk is bullish: Yields firmed:

The post Australian dollar thrashed lower appeared first on MacroBusiness.

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MacroBusiness Tuesday, July 23, 2024 - 00:05 Source

A report from Oxford Economics forecasts that 960,000 new homes will be built across Australia over the next five years, well short of the Albanese government’s target of 1.2 million homes. The construction shortfall will mean that the housing crisis will deepen and remain a “chronic” issue. The report’s author, Timothy Herbert, says that dwelling construction

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George Monbiot Monday, July 22, 2024 - 22:54 Source

Here’s why the government should tax the rich and tax them hard.

By George Monbiot, published in the Guardian  14th July 2024

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