When Michael Stutchbury took over the AFR in 2011, he brought with him the Murdoch-style ideology if “businessomics”. This is the doctrine that privately owned entities are always right. It should never be confused with a commitment to free markets because it cannot handle over-concentration requiring regulatory intervention to address market failure. For Stutchbury, the
The Federal Chamber of Automotive Industries (FCAI) released new car sales figures for November, which fell by 11.6% year over year to 99,091. “From an historical perspective, the 2024 year-to-date result is strong”, noted FCAI Chief Executive Tony Weber. “However, the market is starting to show a number of clear trends. The first half of
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Goldman with the view. The Australian Dollar has been the worst performer in the G10 over the past week, weakening by a little over 2% versus the Dollar. Australia’s macroeconomic backdrop has “caught down” in recent months. We do not think that Australian macroeconomic conditions are that different compared to the majority of its G10
Last week, I gave a presentation at the 2024 Australian Basic Income Fellows Workshop. Most of the talks were about Basic Income trials, which have been undertaken around the world. I focused on something more modest but perhaps more achievable: getting evidence on the effects of Scrapping or Scaling Back Mutual Obligation and Income Management.
Australia’s auction market is ending 2024 with a whimper. Over the weekend, the national preliminary clearance rate was 62.4%, down a full percentage point from the week before and the lowest preliminary result so far this year. The weak result reflects weaker selling conditions as advertised stock levels rise without a commensurate lift in buying
Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please.
I’m now using Substack as a blogging platform, and for my monthly email newsletter. For the moment, I’ll post both at this blog and on Substack. You can also follow me on Mastodon here.
Newspoll has a dead heat today. Meanwhile, Australians are onto Albo the weak. Voters consider Anthony Albanese the weakest prime minister in decades, with Peter Dutton widening his lead as the stronger and more decisive leader, despite a two-party contest that has the Coalition and Labor back to a neck-and-neck race to the election. An
The post Albo polling plunges appeared first on MacroBusiness.
The Australian federal election will be held at some point in the first half of 2025, and I have now completed my guide to all 150 electorates.
I published guides for 50 seats in mid-2023, but electorates in New South Wales, Victoria and Western Australia had to wait for the conclusion of redistributions. These redistributions concluded around the time of the Queensland election, and I’ve now finished all of these guides.
Iron ore prices are hovering above $100 while markets are in a neutral position. Chinese iron ore stocks are falt. As supply falls briefly. BOF steel output is at record highs seasonally. On tariff frontrunning. Steel margins are still OK but going the wrong way. I reckon we’re in for a hilarious boom and bust
The post Iron ore booms before the bust appeared first on MacroBusiness.
Outgoing US President Joe Biden has issued what his statement calls ‘a full and unconditional pardon’ to his son Hunter Biden. The pardon has raised more than a few eyebrows, so I want to look at President Biden’s statement, as well as some of the Federalist Papers written by James Madison describing the original intent…
The post Joe Biden Pardons His Son: An Analysis appeared first on The AIM Network.
The November US jobs print came in slightly higher than expected on Friday night but was still weak with Wall Street finishing with mixed results although rate cut chances increased for the December meeting. European shares continued to climb although the German DAX took a breather as French volatility stepped in on their political imbroglio.
The post Macro Morning appeared first on MacroBusiness.
The Market Ear with more. The big picture SPX continues trading inside the big trend channel that has been in place since last autumn. 50 day is down at 5900. Buying on any undershoot of the 50 day has been great. The longer term 100 day is down at the big break out level (5700).
The post Stock bubble intensifies appeared first on MacroBusiness.
This week, the Reserve Bank of Australia (RBA) will announce its monetary policy decision, which is likely to be a straightforward hold. However, given the weaker-than-expected Q3 national accounts result and the sharper-than-expected decline in wage growth, this month’s monetary policy minutes are likely to set the stage for a potential rate cut at the