I wrote a blog post last weekend about how the NSW government has been sneaking in a change to how council vacancies are filled into a bill that is billed as primarily ending the privatisation of council election administration.
Since then I’ve had the chance to do a bit more analysis on the topic and I wanted to provide more data to inform the debate. This was too late to be included in my inquiry submission so hopefully it can be found useful by MPs anyway.
DXY is up and EUR down. AUD doesn’t care because Chyna! Lead boots are not so persuaded. Oil sense, gold trouble. Metals scream Chyna! Even big miners! EM meh. Yields edged up. Stocks stalled. Chyna! is going to yawnulate again! And consolidate! No it isn’t. But we can enjoy the rally while it lasts. Oddly,
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New record highs for Wall Street and Bitcoin as the latest US weekly initial jobless numbers weren’t as high as expected, giving USD another lift against most of the undollars. However, the Australian dollar rallied on more Chinese stimulus speculation while Lots of auctions in the US Treasury market saw 10 year yields dip lower
The post Macro Morning appeared first on MacroBusiness.
This is the way the world ends, not with a bang but a flooding: With apologies to T. S. Eliot
THE DEVIL OF MONEY
We see people of adventure
who hunt this curse
To lock it in their purse
each judges one’s misfortune
that to make awful times better
one would have to stop the blither.
All of you who criticise the spirit of this image,
have you never paid money any homage?
These warriors, these scholars, these learned doctors,
I’m mesmerised by a beautiful system
Full name is spelled De-mo-cra-cy
It demands trust in a ma-jo-ri-ty
A barking pack of dreadful MAGA men
When half of the people plus one are dumb
And the others are super-intelligent like me
Not a chance we have to really be
Anything but full of stark darkly glum
Trump plays to enter all conversations
Most Asian share markets are mixed despite a solid lead from Wall Street overnight, with local stocks taking back their recent losses despite the constant bullying from the Trump regime’s tariffs on pharmaceuticals. There’s more tariff announcements and letter printing on the way, but of course we still await the TACO trade. Oil markets are
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Without resistance, a combination of new laws and new technologies of control will rush us towards dystopia.
By George Monbiot, published in the Guardian 4th July 2025
No one can be trusted with power. Any government will oppress its people if not constantly and inventively challenged. And the task becomes ever-more urgent as new technologies of surveillance and control are developed.
