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MacroBusiness Friday, May 9, 2025 - 13:00 Source

It’s not rocket surgery. Be green, not fake. Drop the woke malarky. Drop the support for endless population growth and be honest about its devastating effects on the natural world, as well as youth prospects for housing and social progression. Be honest about the limits to growth, not pompously hypocritical to those of differing views.

The post How to restore the Greens appeared first on MacroBusiness.

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MacroBusiness Friday, May 9, 2025 - 12:30 Source

The Market EAr on the mechanical bull. Stuck, but… SPX is still stuck in some sort of range, but note the short term trend line comes in at the 5700 level (futures). Next resistance above that is the 5750 area and the 200 day slightly higher. A close above that resistance and many will be

The post Robots are bulls, humans are bears appeared first on MacroBusiness.

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MacroBusiness Friday, May 9, 2025 - 12:00 Source

For decades, billionaire Meriton founder ‘Highrise’ Harry Triguboff has persuaded politicians to implement policies favourable to his financial interests, including mass immigration. In 2006, Triguboff claimed that Sydney’s population needed to reach 20 million by 2050. In 2010, Triguboff argued that Australia’s population needed to increase to 100 million. “I’d like to see 100 million,

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Renew Economy Friday, May 9, 2025 - 11:59 Source
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Renew Economy Friday, May 9, 2025 - 11:56 Source
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MacroBusiness Friday, May 9, 2025 - 11:30 Source

Ferrous complex struggles continue. The steel output cuts have begun. The China Iron and Steel Association said this week the government was “actively deploying and promoting” its crude steel production mandate. Looming output restrictions have weighed on the market and are expected to impact demand of iron ore. “The main task facing the steel industry is

The post Iron ore slashed by steel cuts appeared first on MacroBusiness.

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MacroBusiness Friday, May 9, 2025 - 11:00 Source

I have frequently cautioned that state and federal government plans to blanket our cities with high-rise apartments will not help Australian housing affordability and will reduce livability. The reasons are simple: it is too expensive to construct apartments. As a result, they cannot be delivered at a reasonable cost to buyers. Urbis highlighted the excessive

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MacroBusiness Friday, May 9, 2025 - 10:30 Source

The Reserve Bank of Australia’s (RBA) Statement of Monetary Policy (SoMP) forecast that by Q2 2027, Australian real wages would be 5.9% below the Q2 2020 peak, tracking around the same level as December 2011. Extrapolating the RBA’s forecast suggests that Australian real wages may not recover to the Q2 2020 peak until around 2040.

The post When will Australian real wages recover? appeared first on MacroBusiness.

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Your Democracy Friday, May 9, 2025 - 10:21 Source

Presidents Vladimir Putin and Xi Jinping signed a series of documents and delivered statements to the press following their May 8 talks, outlining the further development of bilateral relations and cooperation on the international stage.

 

Key Agreements Signed

Joint statement on deepening comprehensive partnership and strategic cooperation, marking a new era.

 

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Renew Economy Friday, May 9, 2025 - 10:13 Source
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Your Democracy Friday, May 9, 2025 - 10:04 Source

Eighty years is a long time. Over such a span, the world changes almost beyond recognition, and events that once felt close fade into legend. Yet while history may become distant, its imprint remains. The Second World War created a political order that shaped global affairs for decades – an order many assumed was permanent.

 

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MacroBusiness Friday, May 9, 2025 - 10:00 Source

DXY is back. AUD is not. Lead boots are heavy. Commods says no bueno for growth. Big miner meh. EM meh. Junk a bit better. Yields won’t budge. Stocks only go up. DXY breaking out. EUR breaking down. Ordere restored. Nobody got dollars. And you’re going to need them if you’re chasing tech stocks again.

The post Australian dollar flogged by return of the king appeared first on MacroBusiness.

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xkcd.com Friday, May 9, 2025 - 10:00 Source

Reductio ad absurdum fails when reality is absurd.

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Renew Economy Friday, May 9, 2025 - 08:24 Source
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MacroBusiness Friday, May 9, 2025 - 08:00 Source

The official Q1 CPI inflation print from the Australian Bureau of Statistics (ABS) revealed that the policy-important trimmed mean inflation fell to 2.9% year-on-year to be within the Reserve Bank of Australia’s (RBA) inflation target of 2% to 3%. As illustrated below by Justin Fabo from Antipodean Macro, the Melbourne Institute’s monthly trimmed mean inflation

The post Aussie inflation continues to ease appeared first on MacroBusiness.

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Your Democracy Friday, May 9, 2025 - 04:04 Source

A new Pope has been elected by the conclave of cardinals at the Vatican. A US-born prelate, Robert Francis Prevost, has been named as the new pontiff. He is the first American Pope in history.

Born in Chicago, Illinois, Prevost, 69, has taken the name Leo XIV. He spent much of his church career as a missionary in Latin America and worked for a decade in Trujillo, Peru, before becoming bishop of the Peruvian city of Chicalayo.

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MacroBusiness Friday, May 9, 2025 - 00:05 Source

Australia is experiencing a housing crisis because its home prices are among the highest in the world compared to incomes, we have some of the most indebted households in the world, and tenants are paying a record share of their income on rent. According to CoreLogic, the total value of Australia’s housing stock was $11.3

The post Australia’s housing crisis takes ugly turn appeared first on MacroBusiness.

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Renew Economy Thursday, May 8, 2025 - 20:07 Source
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MacroBusiness Thursday, May 8, 2025 - 16:50 Source

AUD/USD EUR/USD USD/JPY GBP/USD Gold WTI Brent Australia 200 US S&P 500 UK 100 Japan 225   Easy Listening          

The post Macro Afternoon: 8 May 2025 appeared first on MacroBusiness.

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Your Democracy Thursday, May 8, 2025 - 15:58 Source

In 25 years, Russia rose from the ruins of the '90s to a global power with a $6.94 trillion economy.

"We set a goal to become one of the world’s top four economies. And by the way, according to some data — including assessments by the World Bank — just last week they released updated figures placing Russia in fourth place. We’ve now moved ahead of Japan."

Vladimir Putin, 2024

 

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Renew Economy Thursday, May 8, 2025 - 15:41 Source
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Renew Economy Thursday, May 8, 2025 - 15:22 Source
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Renew Economy Thursday, May 8, 2025 - 15:15 Source
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Renew Economy Thursday, May 8, 2025 - 14:39 Source
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MacroBusiness Thursday, May 8, 2025 - 14:00 Source

Propaganda is maddening in its resistance to all truth. The Australian. New sources of gas that have been earmarked to fix a looming east coast shortfall will not be ready in time and cost just as much as imported LNG, a report from Rystad Energy on behalf of gas pipeline operator Jemena has concluded. …But

The post For god’s sake, fix the gasmageddon appeared first on MacroBusiness.

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MacroBusiness Thursday, May 8, 2025 - 13:30 Source

Gone are the days of iron ore’s Pavlovian response to China yawnulus. In days of yore, the following would have sent iron ore nuts. BofA. ThePBOC, NFRA and CSRC jointly announced a raft of monetary, consumption, capital market, and property measures to stimulate the economy. In terms of 1) monetary easing–PBOC will cut the RRR

The post China yawnulus does nothing for iron ore appeared first on MacroBusiness.

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Renew Economy Thursday, May 8, 2025 - 13:10 Source
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MacroBusiness Thursday, May 8, 2025 - 13:00 Source

Goldman’s excellent Andrew Boak is still on point. Australia’s recent CPI data showed that core inflation is now tracking well within the RBA’s 2-3% target band, with six-month annualised growth in the trimmed-mean measure decelerating 25bps to 2.5%. Compositionally, a range of wage-sensitive services items showed significant disinflation, offsetting stickiness in some government-linked administered prices.

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Renew Economy Thursday, May 8, 2025 - 12:49 Source
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MacroBusiness Thursday, May 8, 2025 - 12:30 Source

Twitter (X) user Oliver in WA posted the following stunning chart showing how Australians are heavily overweight in housing (4.5 times GDP) compared to other English-speaking nations. The same can be said about Australians’ mortgage debts, which are among the highest in the world when measured against incomes or GDP. The following chart from Justin

The post Aussie mortgage holders plead for respite appeared first on MacroBusiness.

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