Oz Blog News Commentary
Your Democracy Monday, April 1, 2024 - 08:13 Source



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MacroBusiness Monday, April 1, 2024 - 07:13 Source

The difficult decisions made by Lord Charlton and Lady Pharcus on behalf of the poor of Parramatta are as heartrending as they are perplexing. Some days, Parramatta records smog as bad as Beijing. Yet the Bellevue Hill and Palm Beach villas of the Lord and Lady offer some of the freshest Pacific air anywhere. Lord

The post Lord Charlton and Lady Pharcus bring fresh air to Parramatta appeared first on MacroBusiness.

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John Quiggin Monday, April 1, 2024 - 06:31 Source

Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please.

I’m now using Substack as a blogging platform, and for my monthly email newsletter. For the moment, I’ll post both at this blog and on Substack. You can also follow me on Mastodon here.

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Your Democracy Monday, April 1, 2024 - 04:47 Source

'Russia Won, NATO Lost': France Leader Drops Bombshell; Global Panic Over Ukraine's Loss?


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MacroBusiness Monday, April 1, 2024 - 00:01 Source

Some of the statistics in this tour de force of Chinese ghost cities is are mindblowing: property values down 90%; enough vacant realty to house double the population; hundreds and thousands of towns with occupancy rates below 10%; mysterious hulks of half-completed developments designed on hallucinogens. All of it was built with Aussie commodities and

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MacroBusiness Sunday, March 31, 2024 - 16:13 Source

The latest dwelling value results from CoreLogic would be discouraging for anyone hoping that the Reserve Bank of Australia’s (RBA) November interest rate hike would stop Australian house prices from rising. According to CoreLogic’s daily dwelling values index, values across the five major capital city markets increased by 0.6% in March, with Perth (1.8%), Adelaide

The post Australian house prices won’t die appeared first on MacroBusiness.

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THE BLOT REPORT Sunday, March 31, 2024 - 12:10 Source

The blog has been a bit quiet over the last few weeks. The reason is in part because we are downsizing. We are moving from a fairly large house we bought in the early 1990s when such houses were affordable, into an apartment about half the size. As a consequence of this downsizing we have to get rid of a lot of stuff and some of this stuff which has to go, consists of books. We have already taken four carloads of books over to Lifeline in the hope that they can give others as much joy, interest and inspiration as we received from them.

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Your Democracy Sunday, March 31, 2024 - 08:35 Source

I doubted whether or not it would be possible, but Russia has managed to trace the funding to at least one of these terrorists – back to the Ukraine.

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MacroBusiness Sunday, March 31, 2024 - 00:10 Source

The Skyscraper Index is one of those marvellous indicators that pops up now again to make an excellent point: It’s more apocryphal than it is scientific, but it is nonetheless indicative of overextended economic models in the final throws of exuberance. Today, the skyscraper index comes home to roost in Australia’s capital of crushloading economics,

The post Skyscraper index portends doom of Melbourne appeared first on MacroBusiness.

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MacroBusiness Sunday, March 31, 2024 - 00:05 Source

David Llewellyn-Smith discusses the ruination of NSW energy market by energy gentailer, Origin Energy: Origin built an LNG export plant in QLD (along with two others) that has created an artificial gas shortage in Australia since 2014. Aussie gas is regularly more expensive in Australia than it is in Europe. This has derailed the NSW

The post Original sin: How the gas cartel ruined NSW appeared first on MacroBusiness.

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The Australian Independent Media Network Saturday, March 30, 2024 - 12:08 Source

Rarely has the International Court of Justice been so constantly exercised by one topic during a short span of time. On January 26, the World Court, considering a filing made the previous December by South Africa, accepted Pretoria’s argument that the Convention on the Prevention and Punishment of the Crime of Genocide was applicable to…

The post Starvation in Gaza: The World Court’s Latest Intervention appeared first on The AIM Network.

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MacroBusiness Saturday, March 30, 2024 - 11:36 Source

Let’s start with the cause: One of China’s biggest property firms delayed its earnings report while another posted a record profit decline as the nation’s real estate crisis shows no signs of easing. Country Garden Holdings Co., once the nation’s top residential builder by sales, made a surprise announcement late Thursday that it will miss

The post The greatest iron ore crash in the galaxy has begun appeared first on MacroBusiness.

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Your Democracy Saturday, March 30, 2024 - 08:34 Source

Why did Rishi Sunak downgrade me from security threat No 1 and hand it to China? The black dude who strolled into No 10 in loafers. And the Baltimore conundrum. Plus incontinent Biden

Biden is not even in control of his own bowel movements





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Your Democracy Saturday, March 30, 2024 - 07:36 Source

New NATO member admits ‘sovereignty’ issue with US pactA military agreement with Washington comes at a cost, Helsinki has said

A new military cooperation agreement with Washington limits Helsinki’s sovereignty, the Finnish Foreign Ministry said on Thursday, advising that its ratification will therefore require a two-thirds majority in the parliament.

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MacroBusiness Saturday, March 30, 2024 - 00:46 Source

  Arthur Streeton ‘Beach Scene’ 1890, Art Gallery of NSW   Global Macro Fed’s balancing act could see June rate cut in play even with sticky inflation – Reuters Bankman-Fried sentenced to 25 years for multi-billion dollar FTX fraud – Reuters US economic growth for last quarter is revised up slightly to a healthy 3.4%

The post Easter Links Vids and Pods: March 29 – April 1, 2024 appeared first on MacroBusiness.

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MacroBusiness Saturday, March 30, 2024 - 00:10 Source

In this week’s Treasury of Common Sense with Mike Jeffreys from Radio 2GB, I ran through the latest annual capital city population data from the ABS and what it means for Sydney, especially the housing market. I explained why supply-side solutions to Sydney’s housing crisis won’t work as long as the federal government continues to

The post Sydney’s housing crisis is unfixable appeared first on MacroBusiness.

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Your Democracy Friday, March 29, 2024 - 22:18 Source

Russia has hit back after a senior White House official accused it of peddling “manure” by claiming that Ukraine may be linked to last week’s terrorist attack near Moscow.

Moscow believes the attack may have been masterminded by Ukrainian special services who used a group of radical Islamists to carry it out. Washington has urged the world to accept the claim of responsibility by ISIS-K, an Afghanistan-based offshoot of Islamic State (IS, formerly ISIS).

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The Australian Independent Media Network Friday, March 29, 2024 - 22:00 Source

Of course, any election will have various reasons for why a particular candidate or party won or lost. Therefore, what I write can only be taken as my opinion and may contain some bias. So, how does one decide why a party won or lost? The facts will show that one party won because it…

The post Triumph over Dutton-style politics: A retrospective look appeared first on The AIM Network.

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Renew Economy Friday, March 29, 2024 - 21:50 Source
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John Quiggin Friday, March 29, 2024 - 15:07 Source

Daniel Kahneman, who was, along with Elinor Ostrom, one of the very few non-economists to win the Economics Nobel award, has died aged 90. There are lots of obituaries out there, so I won’t try to summarise his work. Rather, I’ll talk about how it influenced my own academic career.

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Your Democracy Friday, March 29, 2024 - 13:55 Source

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Your Democracy Friday, March 29, 2024 - 12:28 Source

In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the military- industrial complex. The potential for the disastrous rise of misplaced power exists and will persist.

— President Dwight D. Eisenhower’s Farewell Address  (1961)

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The Australian Independent Media Network Friday, March 29, 2024 - 11:38 Source

The curved course of the ubiquitous banana has often been the peel of empire, its sweetness masking a sharp, bitter legacy. Arab conquerors introduced it to the African continent as they cultivated a slave market. European imperialism did the same to the Americas via the Canary Islands, insinuating the luscious fruit into markets of solid…

The post Imperial Fruit: Bananas, Costs and Climate Change appeared first on The AIM Network.

Read more Views: 57 Friday, March 29, 2024 - 11:00 Source

Cesium-133, let it be. Cesium-134, let it be even more.

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The Australian Independent Media Network Friday, March 29, 2024 - 10:15 Source

In the past couple of weeks, the conservative parties have retained government in two jurisdictions across Australia, the (party political) Brisbane City Council and Tasmania. Before anyone scoffs at the Brisbane City Council, it is an amalgamation of around 20 shires and town councils that occurred in the 1920s Apart from managing the roads, rubbish…

The post The problems with a principled stand appeared first on The AIM Network.

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Your Democracy Friday, March 29, 2024 - 08:05 Source

London: I have just returned from a week in Ukraine and I can’t stop thinking about it.

History has judged Neville Chamberlain − who led Britain into World War II − poorly for his infamous 1938 observation of the conflict between Nazi Germany and Czechoslovakia as a “quarrel in a far away country, between people of whom we know nothing”.

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MacroBusiness Friday, March 29, 2024 - 08:00 Source

National treasuries and central banks usually move in lockstep on economic forecasts following consultation and coordination. On Wednesday, New Zealand Finance Minister Nicola Willis unveiled the Treasury’s half-yearly update, which slashed the nation’s growth forecast to only 0.1% for 2023-24, from 1.5% in the prior half-year update. This follows New Zealand’s Q4 GDP unexpectedly falling,

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MacroBusiness Friday, March 29, 2024 - 07:00 Source

No country has botched up its immigration policy more than Canada. The employment, housing, infrastructure, and healthcare systems are all in disarray. Canada’s population expanded by more than 1.2 million people last year, owing to record net overseas migration: This population surge has resulted in a severe housing shortage across Canada: Housing starts have fallen

The post Canada issues recession warning to Australia appeared first on MacroBusiness.

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Your Democracy Friday, March 29, 2024 - 05:41 Source

Last week’s terror attack on a Moscow concert venue has opened a Pandora’s Box of allegations by Russian officials accusing Western intelligence agencies and governments of secretly cooperating with, coordinating and masterminding the activities of international terrorist groups. Occasionally, however, Western actors don't even bother to hide it.


BY Ilya Tsukanov


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MacroBusiness Friday, March 29, 2024 - 00:10 Source

The Office of the Chief Economist has done better with commodity forecasting since its institution replaced the Bureau of Research and Energy Economics (BREE). But I fear its latest update falls into the old BREE trap of being too bullish, even though it appears bearish to the naked eye: The profile for Australian resource and

The post Albanese Govenment clueless Australia’s luck has run out appeared first on MacroBusiness.

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