Blogotariat

Rather than import so many warm bodies to feed this bottomless pit, let’s export Gerry Harvey to China. He wants to go: There’s some laughter from Australian billionaire Gerry Harvey when he suggests that China’s one-party led dictatorship is a model Australia should aspire to if it wants to get things done. But there’s more

The post Let’s export Gerry Harvey to China appeared first on MacroBusiness.

Oil enjoyed a nice little pop last night as Vladimir Putin asked OPEC to fund his war: Russia is likely to propose that OPEC+ reduces oil output by around 1 million barrels per day at its next meeting in October, a source familiar with the Russian viewpoint said on Tuesday. The meeting will take place

The post Putin asks OPEC to fund his war appeared first on MacroBusiness.

Federal housing minister, Julie Collins, continues to wax lyrical about Labor’s housing and homelessness plan, claiming she is incredibly passionate about “making sure that more Australians have a safe place to call home”: Ms Collins said she was working with state and territory governments and the construction sector on the issues. Before the May election,

The post Labor’s housing and homelessness plan is a joke appeared first on MacroBusiness.

Retail trade for August is out and is still firm at 0.6% month-on-month and 19.2% year-on-year: Households goods are still booming despite falling house prices: Same for NSW: The question is, how much of this is inflation and how much is actual volume growth? Also, there is a correlation between the recent bounce and with

The post Aussies spend on but buying more or paying more? appeared first on MacroBusiness.

Pantheon with the note. I don’t think so. Restarting stalled projects is one thing. Overturning “houses are for living in not speculation” is another.  But you never know your luck in the big city! Property Stimulus Starts to Show in the Data, but Much More is Needed China’s property sector is yet to pull out

The post Green shoots for Chinese property appeared first on MacroBusiness.

Coolabah Capital’s Chris Joye notes “that the great Aussie housing crash is stabilising in the vanguard cities of Sydney and Melbourne”, albeit values nationally are still plummeting at a 16% annual pace (and 22% across Sydney). However, the “bad news is that only a portion of the RBA’s 225 basis points of rate hikes have

The post Australia’s housing bloodbath eases appeared first on MacroBusiness.

As noted many, many times, Goldman Sachs has been the leading Wall Street salesman for commodities in the last year. It has stuck to this narrative all the way through the correction, telling everybody to keep catching the falling knife. Today it finally gives in, which is probably bullish, though my own view is that

The post Oops! Goldman gives up on commodities appeared first on MacroBusiness.

Concern over European gas supplies and the fake referendums in Ukraine kept overnight stock markets contained. The USD remains strong against everything undollar with Euro still sharply below parity without any upside moves, as Pound Sterling races to join the crowd. The Australian dollar is still on the ropes, as commodity prices remain under pressure.

The post Macro Morning appeared first on MacroBusiness.

It’s not yet entirely clear what this means: Resources Minister Madeleine King has demanded the three major east coast gas producers sign a government-drafted deal that may include what some industry figures slammed as an “unworkable” and distortionary price cap mechanism to shield domestic manufacturers. …After receiving three separate heads of agreements from the key

I was immediately taken aback when I read that the Opposition was negotiating “in good faith” with the Government for their support in introducing the National Anti Corruption Commission (NACC). Good faith sounds more like bargaining for an exemption from the obvious. At first, I thought I was mistaken. Negotiating in good faith with an Opposition…

The post Put niceties aside, Albo appeared first on The AIM Network.

The past fortnight has seen analysts lift their forecast peak in Australia’s official cash rate (OCR) in the wake of the aggressive monetary actions of the US Federal Reserve. Last week, Westpac chief economist Bill Evans raised the bank’s forecast for the terminal OCR from 3.35% to 3.6% by February 2023. Westpac was yesterday joined

The post Interest rate bulls run rampant appeared first on MacroBusiness.

White House press secretary Karine Jean-Pierre called the elections a “sham” and “a flagrant violation of international law and an affront to the principles of sovereignty and territorial integrity that underpin the international system.”