There is nothing a central banker likes more than to waste money while forcing everybody else into austerity. The cost of renovating the RBA’s asbestos-ridden head office in Sydney’s Martin Place has risen to $1.2 billion, prompting the newly installed governance board to consider selling the building and walking away from the troubled project. The
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Join us this week as Nucleus Wealth’s Chief Investment Officer, Damien Klassen and distressed debt manager Jonathan Rochford run through the problems facing Australia and it’s tumble down the productivity tables. Can’t make it to the live series? Catch up on the content via Podcasts or our recorded Videos. Damien Klassen is Chief Investment Officer at the Macrobusiness Fund,
With the release of the Reserve Bank of Australia’s (RBA) latest Statement on Monetary Policy last week, the media focus was swiftly placed squarely upon the RBA’s forecast that productivity growth would be anaemic 0.7% per year on a long-term time horizon. But buried in the RBA’s lengthy forecast table was perhaps an even more
The ferrous complex remains weak despite an overnight convulsion. Led by steel prices is bearish. Bloomberg. Some mills in Tangshan had received notices to restrict sintering machines by 30% from late August to early September, while other plants had been ordered to cut blast furnaces by 40%, according to a survey of 21 mills by
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Recent data from Jobs & Skills Australia (JSA), published in The Australian, showed that there were an abundance of applicants per job, suggesting that concerns around labour shortages are overblown. At the economy-wide level, there were 29.3 applications per vacancy, 9.4 qualified applicants per vacancy and 4 suitable applicants per vacancy: Separate recruitment difficulty data
Last week, during a video posted on YouTube for the War Abolisher Awards, Roger Waters shared a new song titled "Sumud."
SUMUD
There is a word in Arabic
Sumud
It means
Steadfast
Perseverance
Particularly
In Resistance
To the occupation of your homeland
I just want that thing
When voices join in harmony
And in that fleeting moment
Below is a brilliant guest post from MB reader Erin Rolandsen, CEO of Angelassist: The quality of our lives is determined by the quality of the questions we ask. Today’s productivity summit will ask how to clear the backlog of 30,000 environmental approvals holding up construction. The result is embedded into the question—houses must rise,
In 2009, NASA launched the Orbiting Carbon Observatory (OCO), a satellite designed to take precise measurements of carbon dioxide in the atmosphere to help guide the response to climate change. Unfortunately, the satellite did not make it into its planned orbit. So, in 2014, NASA launched the replacement OCO-2, which has been collecting a huge number of high-resolution measurements, which provides greater spatial distribution of carbon dioxide over the entire planet.
DXY is refusing to go away. AUD is going away. CNY not. I’m wary of gold here. Metals dead cat. Miners plain dead. EM rolling. Junk doesn’t care. Yields are falling in a growth scare. Stocks could catch that bug. At issue is a Fed that the market has gotten wrong. In their discussion of
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The Market Ear on the sudden fear in tech. NASDAQ fear Too much sudden tech fear… Source: LSEG Workspace The NVDA puke NVDA took out the trend channel yesterday. 50 day comes in around $165 (day lows $168.8). RSI at mid April levels, when the bull started. Source: LSEG Workspace The PLTR puke RSI at
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Growth! S&P flash PMI. Flash Australia Composite PMI Output Index: 54.9 (Jul: Index, sa, >50 = growth m/m % qr/qr 53.8) Flash Australia Services PMI Business Activity Index: 55.1 (Jul: 54.1) Flash Australia Manufacturing PMI: 52.9 (Jul: 51.3) Flash Australia Manufacturing PMI Output Index: 53.9 (Jul: 52.3) Australia’s business activity growth accelerated midway through the