The Australian Bureau of Statistics’ (ABS) latest annual national accounts reported that Australia’s land was valued at $9.2 trillion in 2023-24, with residential land accounting for 84% ($7.7 trillion). As illustrated below, residential land values have skyrocketed from 1.1 times Australia’s GDP in 1989 to 2.9 times GDP as of 2023-24. The total value of Australia’s
Construction of former President Barack Obama's long-awaited library and museum in Chicago began with ambitious plans for diversity, equity and inclusion (DEI) but is now plagued by huge cost overruns, delays and a $40.75-million, racially charged lawsuit filed by a minority contractor.
Asian share markets are not doing so well as the play catchup to the risk off mood that has been dragging down Wall Street since Friday night with returning Japanese markets down the most while local shares are still heading down due to the somewhat hawkish RBA position. Meanwhile the Australian dollar is trying to
The post Macro Afternoon appeared first on MacroBusiness.
Economist Martin Armstrong speaks again with SouthFront. In the interview he gave, Armstrong offers some insights into the main issues on the geopolitical and economic agenda. Armstrong’s reflections are based on the interpretative model of economic cycles, the Socrates model.
Recent polling suggested that the Albanese Labor government faces imminent defeat at the upcoming federal election. The Freshwater poll, conducted for AFR, placed the Coalition ahead of Labor by 52% to 48% on a two-party preferred basis, the largest lead since before the last election. The Resolve poll, conducted for SMH, showed the Coalition ahead
The Market Ear with more. What could go wrong? Steve Cohen expects a significant correction. Warren is hoarding more cash than ever. Some valuations metrics say that this is the most overvalued market ever. Hedge funds, long-onlies, retail and CTAs are all close to max long. What could go wrong…? Retail Retreat Retail investors turned
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Analysis shows that the federal government has made $123.6 billion worth of discretionary spending decisions in the three budgets it has handed down since taking office in May 2022. The government has also announced some $20 billion worth of election promises since the start of 2025, headlined by the $8.5 billion expenditure on Medicare. Independent
As I type this, Trump is threatening tariffs on anyone who challenges the interests of America’s technology oligarchs, all of whom are now paying obeisance at this court. Technology is the US biggest weapon against the free world of which it was formerly part, and the right place to fight back. But what can be done?