DXY is back again as EUR pukes. AUD whoa! Gold bubble bursting. Commods cooked. Miner massacre. EM deepsuckered. Junk unconcerned. Curve steepening. Stocks late rescue. This is ignominious stuff from the child president and his hillbilly cheerleader. The upshot is no deal to end the war. Though it is all so childish, a complete reversal
If the US is now our enemy, how do we defend ourselves?
By George Monbiot, published in the Guardian 27th February 2025
All the talk now is of how we might defend ourselves without the US. But almost everyone with a voice in public life appears to be avoiding a much bigger and more troubling question: how we might defend ourselves against the US.
Below is a brilliant guest post by Misha Saul, examining how immigration bureaucrats like Abul Rizvi have damaged Australia through excessive immigration levels. I recommend reading Misha Saul’s article alongside my latest critique of Abul Rizvi’s spurious arguments justifying mass immigration. Australia’s Rule by Bureaucrat How the technocrats lost control over Australia’s borders [T]he characteristic
Lol. This must be a joke. Jim Chalmers has launched a pre-election campaign blitz in vulnerable NSW Hunter and central coast seats, as he answers the calls of Labor MPs concerned that surging support for Peter Dutton and Anthony Albanese’s unpopularity will cost them their seats. After high-level meetings with senior Trump administration officials in Washington DC, Dr Chalmers arrived
From 1 April 2025, temporary residents will be banned from purchasing established dwellings for two years. Previously, temporary residents have been permitted to apply for approval to buy an established home to live in for the duration of their stay. They have also been allowed to purchase an established home for redevelopment if it increases
Earlier this month, the Australian Bureau of Statistics (ABS) released the Q4 2024 wage price index, which recorded growth of 0.7% for the quarter and 3.2% year over year. The 0.7% quarterly increase was the equal lowest growth since Q1 2022, while the annual increase of 3.2% was the equal lowest since Q3 2022. The
The post Australian wages can’t buy what they used to appeared first on MacroBusiness.
The ferrous complex has begun to deflate post-supply disruption. Profits have halved at the big miners, but do not be fooled. The iron ore nightmare has not yet begun. Ahead is an epic crash in Chinese construction volumes. Capital Economics. Nor will Chinese consumption ever fill the hole for steel. I expect Chinese domestic demand
The election would be over if Peter Dutton applied domestic gas reservation in the east. Everybody supports it. Instead, he’s going to apply nothing whatsoever. The Australian. The Coalition will demand gas producers commit to prioritising supply to the domestic market in return for approving a “bucket load” of new projects, with a particular focus on
Having already hypothetically destroyed Canberra, Sydney, Melbourne and Brisbane with nuclear-armed HN missiles, the tiny “flotilla” of Chinese vessels is moving to annihilate Adelaide. The federal government is preparing for a flotilla of Chinese warships to circumnavigate Australia in coming days, as Foreign Minister Penny Wong accused the Coalition of “beating the drums of war”
The latest US initial jobless claims number spiked overnight and combined with more senseless tariff threats from Trump including doubling down on China saw volatility hit Wall Street hard as all the post election gains were wiped out, taking European stocks lower as well. The USD is pushing back against the undollars with new daily
The post Macro Morning appeared first on MacroBusiness.
The Reserve Bank of Australia’s (RBA) 0.25% interest rate cut and expectations of more easing have delivered a strong rebound in Australian home prices, driven by Sydney and Melbourne. After declining for three consecutive months, Australian dwelling values recorded a 0.3% increase in dwelling values across the five major capital cities in February, with each