“Never in our history,” declared a TV anchor, “has there been such an avalanche of information, so little believed or believable.”
This was no anguished lament over AI or social media. This was 1967, the era of the Vietnam War, racial tension, and urban blight, when a group of liberal satirists launched a prank so well-executed it would later be called “the hoax of the century.”
In the history of the U.S economy, every now and then there is a major shift in the balance of forces impacting the path of both growth and economic policy. While the coverage of this most recent shift has so far flown under the radar, it represents a major demographic alteration to the U.S. labour
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As we know, Victoria disease is ripping through the Australian economy like COVID did before it. It is the plague of too many Labor governments importing too many people, creating a constantly rising demand for state-managed services, which do not have the revenue sources to pay for them. This is called horizontal fiscal mismatch. The
Morgan Stanley with the note. The uncertainty of application of tariffs is one reason we have continually called for patience to see the affect of tariffs in hard data. Our models predict that inflation will take approximately four months to see the full effects of tariffs and potentially even eight moths for growth to react
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Just imagine. You are a younger Australian, perhaps nearing the end of secondary school or nearing the completion of your university degree. Perhaps you are beavering away as a young tradie, have a half-decent gig with a large retailer, or are considering joining the freelance circuit as an IT or healthcare specialist. Odds are, you
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Over the weekend, OPEC+ production was raised of 548,000 barrels per day (bpd) for August, above the initial projection of 411,000 bpd. With the goal of regaining market share and stabilizing prices, this action quickens the rollback of the voluntary supply reduction in 2023. Even with this rise, OPEC+’s spare capacity is still projected to
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With the release of the latest labour account figures, it was revealed that the total number of filled jobs in the economy contracted for the first time since the March quarter of 2021. In the years since the Global Financial Crisis and in particular since the onset of the pandemic, the Australian economy has become
In the nation’s collective consciousness there are few issues that occupy as much mental headspace and backyard BBQ conversation as interest rates. For some, each rate cut is treated like nectar from the Greek Gods atop Mount Olympus. After all, over the last decade the pathway to greater levels of household disposable income for mortgage
Stocks only go up is back. The Market Ear. Nets caught up Net leverage for hedge funds have kind of caught up with gross leverage – when looking from a percentile perspective. We have now arrived at generally “stretched” levels. Source: JPM PI More on the addition in net The net leverage climb steadily over
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Ferrous lifted again Friday. Some charts show significant churn in the underlying state of the market. The first chart is difficult one to swallow. Steel production is down 2-3%. Chinese iron ore production is flat. Some of this is the continued orientation towards BOF versus EAF, but not enough to explain the chart. Some MySteel
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On July 4, 1945, the great atomic scientist Leo Szilard finished a letter that would become the strongest (and one of the very few) real attempts at halting President Truman’s march to using the atomic bomb – which was two weeks from its first test at Trinity – against Japanese cities.