Oz Blog News Commentary

Articles from MacroBusiness

The happy Dane spruiks Pilbara Killler

February 28, 2024 - 13:30 -- Admin

RIO is getting spooked that its China-grovelling, Australia-smashing Pilbara killer project is generating negative press. Suddenly, the miner has launched a love-in with a prostrate, Ross Greenwood, to upsell the benefits. But there are none, not for Australia, at least: An alternative iron ore pipeline this large risks emboldening Chinese military aggression. Coming at a

Albo’s summer energy shock explodes

February 28, 2024 - 12:00 -- Admin

Like clockwork. If you won’t supply enough gas, then the power network melts down into a cascade of baseload failures as coal power ages: Daily wholesale power prices are now frequently double those of energy-poor Europe. The quarterly moving average of wholesale power costs id 80-90% higher than it should be. Why? When demand is

Monthly inflation indicator shoots down rate hawks

February 28, 2024 - 11:45 -- Admin

The Australian Bureau of Statistics (ABS) has released its monthly inflation indicator for January, which posted a 3.4% rise over the year, well below economists’ expectations of a 3.6% rise. The most significant price rises were Housing (+4.6%), Food and non-alcoholic beverages (+4.4%), Alcohol and tobacco (+6.7%) and Insurance and financial services (+8.2%). Housing, which

“Appalling” Treasury “wrong” to blame wages for inflation

February 28, 2024 - 11:30 -- Admin

On Tuesday night, I was interviewed by Sky News host Sharri Markson where I demolished the Australian Treasury’s claim that wage growth was driving Australia’s inflation. Below are highlights along with key charts backing my claims. Leith van Onselen: The Treasury has got it wrong here. Australian wages only grew by 0.1% more than headline

Relaxing planning won’t stop developers land banking

February 28, 2024 - 11:00 -- Admin

The YIMBY movement claims that if Australia simply relaxed zoning and planning rules and let developers build apartments wherever they wanted, Australia’s housing crisis would magically resolve. Their argument was demolished by an article published this month in the Daily Telegraph, which reported that “almost one billion dollars worth of housing in one of Sydney’s

1995 not 1999 for stocks

February 28, 2024 - 10:00 -- Admin

I agree with this. The Market Ear. 1995 We ran the 1999 analogy chart last year which worked well for big parts of the year. Is 2024 all about the 1995 set up from here? Refinitiv Party like it’s 1995? IT driven productivity growth In the mid-90s, the first wave of IT-driven productivity growth allowed

Iron ore bottoms

February 28, 2024 - 09:30 -- Admin

For now, anyway, Dalian iron ore futures are trying to hold at the 30DMA: Just as coking coal has: Bouncing off such levels does suggest speculative behaviour. But the rumour mills are still pretty gloomy: Some Chinese steelmakers have postponed plans to resume production amid pressure from poor steel margins or even losses, analysts at