Illion with the note. New data released this week by credit bureau illion, an Experian company, suggests that after three months of hotly anticipated Stage 3 tax cuts, they are working as intended, however the economy is still shaky. Implemented to offer cost of living relief and support stretched households, money from the tax cuts
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The Australia Institute’s Greg Jericho has called for the Reserve Bank of Australia (RBA) to cut interest rates because real household consumption has fallen. Chief economist Greg Jericho explains why the RBA must cut interest rates at its meeting this week, showing the decline in household spending pic.twitter.com/5BTKjjwqkb — Australia Institute (@TheAusInstitute) December 8, 2024
Australia’s emissions decreased by 3 million tonnes of CO2 over 2023–24, according to the Climate Change Authority’s (CCA) annual progress report, which was a fifth of the 15 million tonnes annually needed to meet the federal government’s target of emissions falling 43% on 2005 levels by 2030. The CCA declared that more action is required
I reported on Monday how Australian households have experienced a record 8.4% decline in real per capita incomes since the Albanese government came to office in Q2 2022. This decline in real household disposable incomes is also the largest in the developed world. Polling released this week by Resolve Political Monitor showed that 59% of
The reports through Western presses read rather familiarly. Joyful residents taking selfies on abandoned, sullen tanks. Armed men ebullient and shooting into the sky with adventurist stupidity. The removal of statues and vulgar reminders of a regime. Prisoners freed; torture prisons emptied. The tyrant, deposed. This is the scene in Syria, a war with more…
Labour economists are on the march. While the RBA currently views the labour market as beyond so-called “full employment” and adding to inflation, Professor Borland said conditions were likely far weaker and supported by bumper growth in so-called non-market jobs that are predominantly funded by the taxpayer. “Conditions in the labour market may soon be
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After previously promising deep migration cuts, Opposition Leader Peter Dutton said on Sunday that the Coalition will not set net migration targets until after the federal election, which must be held before 17 May. However, Dutton did recommit to reducing Australia’s permanent migration rate from 185,000 to 140,000, as he had outlined in his budget
I have been hoping that iron ore will get irrational and we are fast getting there as the stimmies metal flies. The stimmies will very likely disappoint but as we saw a few months ago that doesn’t bother iron ore, the world’s most speculative commodity. In the meantime, the tariff frontrunning boom continues to unseasonably
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The Chinese deflationary crash rolls on unabated. Goldman has more. China’s headline CPI inflation edged down to +0.2% yoy in November from +0.3%yoy in October, but headline PPI inflation picked up slightly to -2.5% yoy in November from -2.9% yoy in October. Headline CPI inflation print missed consensus forecasts, while PPI inflation surprised to the
Wall Street properly stumbled overnight as Asian and then European share markets stalled out in the previous sessions, providing a catalyst for this poor mood to repeat in today’s Asia marketplace on the open. A multitude of macro and political events overshadowed or complemented the US jobs print fallout from Friday night with USD swaying
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The DXY consolidation continues. AUD caught a Chinese yawnulus thermal. CNY is still at the cliff. All commods popped. Miners gapped higher. EM blah. Junk firmed. Yields rose. Stocks faded. It’s all about another round of Chinese stimmies. And I thought we had the bazooka three months ago. In late September, Beijing vowed to boost
Research from credit rating agency Equifax suggests that 39% of Australians are experiencing financial stress. The Equifax survey also found that about 50% of Australians reduced their discretionary spending in the last year, compared with 37% in 2022. The rise in Australians experiencing financial stress aligns with the surge in mortgage payments resulting from the