Steel prices are in an outright rout. This is the opposite of what the Beijing parade should produce. Yet everybody wants town iron ore with Simndou two months hence? This is fruitcake time. Chinese steel margins are collapsing as inventories pile up. There is only one outcome here. Production must fall, and all ferrous inventories
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UN climate director Simon Stiell flew to Australia to blame us for the world’s climate troubles. Stiell warned that Australia will cause the world to “overheat” and that fruit will be a “once-a-year treat” if the Albanese government does not increase its clean-energy aspirations. He also warned that unambitious interim aims would undermine Australia’s “high
The left-leaning media have come out in force against the notion that Australia’s immigration intake remains too high. The SMH/Age posted a weak sauce ‘fact check’ on claims that Australia has experienced “unprecedented immigration” and “Big Australia by stealth”. The authors Natassia Chrysanthos and Shane Wright claim that the recent migration surge is merely ‘catch-up’
While Australians are distracted by everything from Donald Trump fascism to a handful of Melbourne neo-Nazis, local democracy is in far greater peril as it lurches the other way. As “Beijing Bob” Carr and “Manchurian Dan” Andrews head to Beijing to warmonger with their Beijing masters, John Bolton took time out of his days of
Overnight saw risk taking a dive as Wall Street returned and was volatile over a secret Google ruling that ended upsetting other tech stocks while the latest US manufacturing PMI print came in slightly better than expected, giving USD another drive higher. Like other undollars, the Australian dollar gave up its recent gains to head
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The Albanese government has ignored the weekend’s protests and maintained Australia’s permanent migrant intake at the historically high level of 185,000. “It follows consultation with the states and territories, which recommended maintaining the size and composition of the Program, with a focus on skilled migration”, Immigration and Home Affairs Minister Tony Burke said via media
DXY is up again. AUD is down again. CNY has popped. Gold is screaming at Trump to back off the Fed. Metals too. Mining bear still intact. EM no bueno. Junk hard reversal. The long bond is still selling. Stocks no likee. The ISM had a distinctly stagflationary feel. The Manufacturing PMI® registered 48.7 percent
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The EU has given Israeli technology start-ups run by ex-IDF soldiers nearly half a billion euros in research grants since the start of the Gaza genocide. Some of the founders of these tech start-ups have served as reservists in Gaza, and in at least one instance the technology has been deployed to aid the genocide.
Leaked documents reveal how a shadowy BBC unit is “embedding” staff in foreign media outlets to “contest the information space” and generate “behaviour change” in favor of London’s geopolitical objectives.