Vice President J.D. Vance has pushed back against comparisons between US airstrikes on Iran and previous American wars in the Middle East, claiming that this time Washington’s actions are truly limited and rooted in national security objectives – not a drive for regime change.
Pru Goward tries to make sense of the world. The collection cost associated with taxation is but one example of the impost of government regulation on productivity. The enormous number of public servants devoted to extracting every possible cent from economic growth is bloated by private armies of accountants and tax lawyers employed to ensure compliance
Victoria’s net debt was only $22.3 billion when the Labor government delivered its inaugural state budget in 2015. According to budget projections, it will reach $194 billion by 2028–29, up from $155.5 billion currently. Victorian net debt per capita was less than $3,600 in Labor’s first budget. Since then, it has surged to $21,900, with
Many argue that iron ore is cheap. But above $90, it is still very expensive. That is the tell on why you should not buy miners now, even though they appear cheap on NTM and dividends. The reason is, the market is yet to discount the entrance of Simandou, which is actually going better than
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The Australian has a consistent viewpoint on the use of gas that is clearly destructive to the Australian economy (and, therefore, itself). It is pro-gas, but it very rarely argues in favour of policies like domestic reservation, even when they are promoted by the Coalition. To some extent, this is probably ideological. The Murdoch Press
The expansion of the war from Palestine to Iran, which began on 13 June, signals an Israeli obsession persisting for four decades. As the Trump administration was negotiating in bad faith with Iran over its nuclear programme, the Israeli regime took advantage of an interval to bomb Tehran, assassinating leading scientists, a senior general and other officials, some of them engaged in the talks.
The Market Ear with the charts. Already bombed out This email is just a reminder that sentiment and positioning metrics were already pretty depressed going into this weekend. From hedge funds to quants, longs are light which should leave less room for an unwind panic. Here are a couple of our favorite charts. Just average
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Australia’s recent productivity growth has been among the worst in the advanced world, as illustrated below by Justin Fabo from Antipodean Macro. This month, federal Treasurer Jim Chalmers launched a productivity summit aimed at pulling the nation out of its funk that has seen per capita growth and living standards decline. The Guardian’s economics editor,
Throughout last year, CBA published data showing that older Australians had increased their spending significantly above inflation, whereas younger Australians had cut back hard on spending. For example, in the year to Q3 2024, Australians aged 70-plus increased their spending on essential categories by 7.4% and spending on discretionary categories by 8.0%. Both were well
DXY fell Friday, but WWIII should be enough to restore it this morning. AUD is bunkering. We’ll see a nice oil pop this morning. I say short it. MAGA ain’t pleased. Metals grind on. The mining bear market is huge and only just begun. EM meh. A safe haven bod for Treasuries. Stocks only go
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