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Renew Economy Wednesday, May 15, 2024 - 14:17 Source
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The Australian Independent Media Network Wednesday, May 15, 2024 - 14:05 Source

In response to the 2024 federal budget, Oxfam Australia Interim Director of Programs Rod Goodbun said:   “In a time of unprecedented global crises, conflict, and rising inequality, the Australian Government’s federal budget lacks ambition to truly tackle inequality at home and abroad.  “The decision to keep aid and humanitarian funding at historically low levels this…

The post Australian federal budget falls flat in tackling inequality: Oxfam appeared first on The AIM Network.

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MacroBusiness Wednesday, May 15, 2024 - 14:00 Source

Goldman is less dovish than some. nWe expect a 0.28% increase in April core CPI (vs. 0.3% consensus), corresponding to a year-over-year rate of 3.61% (vs. 3.6% consensus). We expect a 0.37% increase in April headline CPI (vs. 0.4% consensus), which corresponds to a year-over-year rate of 3.42% (vs. 3.4% consensus). Our forecast is consistent

The post US CPI preview appeared first on MacroBusiness.

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The Australian Independent Media Network Wednesday, May 15, 2024 - 13:34 Source

By Denis Bright Jim Chalmer’s Budget received a good reception. Commentators identified with the government’s cost-of-living commitments but wanted more targeting of this assistance to cope with the growing income and social divides across Australia. In this context, the LNP’s calls for spending restraint have little support in the wider community. LNP supporters should decide…

The post Budget Futures in a Time of Global Economic Nationalism appeared first on The AIM Network.

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MacroBusiness Wednesday, May 15, 2024 - 13:30 Source

Great news as due to “low demand,” Qantas will stop operating its Sydney-Shanghai flights on July 28. However, if the market recovers completely, the service may be restored at a later time. The Covid-19 pandemic caused the flights to be suspended for more than three years before they were finally resumed in late October. According

The post Qantas sounds death knell for Australia/China reboot appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 15, 2024 - 13:00 Source

Victorian Premier, Jacinta Allan, stupidly chose to sign the contract to build the first leg of the $200-plus billion Suburban Rail Loop (SRL) project against the clear advice of infrastructure experts, who wanted the project axed. These experts warned that the SRL would be a $200-plus billion waste of money. Yet, the Victorian government signed

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MacroBusiness Wednesday, May 15, 2024 - 12:49 Source

From the ABS. Expected was 0.9%. The seasonally adjusted WPI rose 0.8% this quarter and 4.1% over the year. The private sector rose 0.8% and the public sector rose 0.5%, seasonally adjusted for the quarter.  The largest industry contributors to quarterly wage growth were Professional, scientific and technical services (0.7%), Education and training (0.8%), and

The post Aussie wages growth all over bar the shouting appeared first on MacroBusiness.

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Renew Economy Wednesday, May 15, 2024 - 12:43 Source
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MacroBusiness Wednesday, May 15, 2024 - 12:30 Source

I noted on Tuesday how the federal budget’s 395,000 forecast net overseas migration (NOM) for 2023-24 is likely to be wildly understated given that net permanent and long-term arrivals continued to track at record levels in the March quarter: This series has traditionally tracked very closely with the official quarterly NOM data, as illustrated in

The post Some light at the end of immigration tunnel appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 15, 2024 - 12:00 Source

Goldman on floating the Chinese property Titanic. Echoing our recent discussion Focus shifting to the secondary market and “Stage II easing”, and in light of the potential ASP pressure exerted by increasing secondary supply and negative feedback loop, we have overhauled our China property barometer 2024 (past publications here) to closely encapsulate the latest household

The post China attempts to float property Titanic appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 15, 2024 - 11:30 Source

With Queensland experiencing its worst housing crisis in living memory and tent cities forming across Brisbane, Premier Steven Miles has taken direct aim at the Albanese government, urging it to cut the number of migrants it accepts so his state can better tackle the housing crisis. Queensland’s population grew by 2.7% in the year to

The post QLD Premier speaks the-truth on Australia’s extreme immigration appeared first on MacroBusiness.

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Your Democracy Wednesday, May 15, 2024 - 11:25 Source

https://www.youtube.com/watch?v=UMv7OxwddaE

Putin’s Gamble on Kharkiv Offensive

 

MAKE A DEAL PRONTO BEFORE THE SHIT HITS THE FAN:

 

 

NO NATO IN "UKRAINE" (WHAT'S LEFT OF IT)

THE DONBASS REPUBLICS ARE NOW BACK IN THE RUSSIAN FOLD — AS THEY USED TO BE PRIOR 1922. THE RUSSIANS WON'T ABANDON THESE AGAIN.

THESE WILL ALSO INCLUDE ODESSA, KHERSON AND KHARKIV.....

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MacroBusiness Wednesday, May 15, 2024 - 11:00 Source

Sydney’s housing market has well and truly descended into the Hunger Games. According to Domain, Sydney’s median house price ballooned to an absurd $1,627,625 in the March quarter of 2024: New analysis from Finder shows that it will take a typical single school leaver 46 years to save a 20% deposit on a median Sydney

The post 46 years to save a Sydney house deposit appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 15, 2024 - 10:30 Source

DXY is fading: AUD is testing upside resistance: No help from North Asia: Brent needs more war: The Great American Bubble Machine has  hold of copper: EM has broken out: Junk is all clear: Yields are peeling lower: Stocks sniff ATH: Markets are more decisively dovish for tonight’s US CI now. If it comes in

The post Australian dollar rolled onto launch pad appeared first on MacroBusiness.

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Renew Economy Wednesday, May 15, 2024 - 10:15 Source
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MacroBusiness Wednesday, May 15, 2024 - 10:00 Source

The Market Ear with the latest macro set up for equities. and it’s gone Goldman’s volatility panic index has collapsed over the past weeks. GS Pushing it UBS points out that the SPX has not had a down 2% or more day since February 2023: “…the largest string of days since pre Volmageddon (2017), and

The post Stocks sleep as Fed sets alarm appeared first on MacroBusiness.

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xkcd.com Wednesday, May 15, 2024 - 10:00 Source

'Uhhh ... how sure are we that everything is made of these?'" alt="==COSMOLOGY==> 'Uhhh ... how sure are we that everything is made of these?'" />

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Your Democracy Wednesday, May 15, 2024 - 09:39 Source

 

As Israel began its genocide in Gaza, those who manage U.S. colleges and universities also commenced to issue statements of outrage at what Hamas had done. And as campus protests erupted in condemnation of the slaughter of Gazans, and especially children, and the destruction of homes and every major institution, including hospitals, these same institutions of higher learning began to disrupt these protests and bring them to an end.

 

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MacroBusiness Wednesday, May 15, 2024 - 09:30 Source

It happens nearly every year as Chinese Q1 restocking ends: And southern rains disrupt construction starts: And this about to begin too: Mineral Resources has readied up two brand new vessels that can be loaded with 20,000 tonnes of iron ore without needing to visit a deep water port, in preparation for the start of

The post Iron ore slides away in May appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 15, 2024 - 09:00 Source

A slew of important economic releases overseas has been overshadowed by the local Federal Budget coverage, with the latest US PPI print coming in a little hotter than expected, helping Wall Street surge a little while European markets were broadly unchanged with German inflation coming in as expected. As a result the USD initially surged

The post Macro Morning appeared first on MacroBusiness.

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Your Democracy Wednesday, May 15, 2024 - 08:54 Source

“Not all entanglement-able particles will entangle” 

Gus Leonisky.

Now that I’ve got this Leonisky postulate personally observed complex controversy out of the way, let me say there are still people who think that “global warming” is a hoax. 

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MacroBusiness Wednesday, May 15, 2024 - 08:38 Source

Below are CBA’s and Westpac’s takes on the federal budget and its impact on the economy: CBA’s Take: For 2023/24 the Budget is now expected to be in surplus by $A9.3bn (0.3% of GDP), up from the December 2023 MYEFO estimate of a deficit of -$A1.1bn (0.0% of GDP)and the original estimate of a deficit

The post The federal budget and the economy appeared first on MacroBusiness.

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Renew Economy Wednesday, May 15, 2024 - 08:01 Source
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MacroBusiness Wednesday, May 15, 2024 - 08:00 Source

SQM Research has released its rental vacancy report for April, which recorded a slight seasonal uptick in the nation’s vacancy rate to 1.1%, up 0.1% from March: However, the national vacancy rate was still 0.1% lower year-on-year. As shown above, all major capital city markets remained extremely tight, with vacancy rates just above or below

The post Battered and bruised Aussie renters get slight reprieve appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 15, 2024 - 00:05 Source

The Australian government has announced significant financial support for eco-friendly businesses, including $19.7 billion for the Future Made in Australia program, $1.5 billion for the Australian Renewable Energy Agency, $8 billion for green hydrogen, and $7 billion for essential minerals. The program aims to transform Australia into a renewable energy powerhouse, with $1.2 billion allocated

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MacroBusiness Wednesday, May 15, 2024 - 00:05 Source

This week, CBA released its Household Spending Insights (HSI) survey for April, which is based on spending data from CBA customers. According to CBA, per capita household spending rose just 1.4% over the year to March, well below CPI inflation of 3.6%: On Tuesday, Westpac released its credit card activity report for March, which also recorded

The post Australian consumers have stopped spending appeared first on MacroBusiness.

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Renew Economy Tuesday, May 14, 2024 - 21:56 Source
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Renew Economy Tuesday, May 14, 2024 - 20:50 Source
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Your Democracy Tuesday, May 14, 2024 - 17:55 Source

Vladimir Putin removed the longtime Defense Minister Sergei Shoigu from his post on Sunday as part of a cabinet reshuffle at the start of his fifth presidential term. Shoigu’s replacement is Andrei Belousov, a civilian economist who has served in various bureaucratic positions since 2006, including as Putin’s presidential advisor in economic affairs. 

 

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WixxyLeaks Tuesday, May 14, 2024 - 17:30 Source

If you’ve spoken out against the Israeli genocide, you’ve probably been called an antisemite. Welcome to the industry.

I’ll start off by saying that I’m sure there has been a rise in antisemitism in Australia since Israel’s retaliation for the October 7 attacks by Hamas.

A genocide will always result in negative sentiment for those carrying it out, and those seen as aligned with it, either by defending it, or seeking to avert attention from it.

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