Blogotariat

When the National Disability Insurance Scheme (NDIS) began to be rolled out in 2016, we warned that it would attract an army of fraudsters middle-men seeking their slice of the multi-billion honey pot on offer. After all, witnessed similar rorting under the private vocational education and training (VET) and pink batts schemes, alongside the rorting

The post NDIS rorters run rampant appeared first on MacroBusiness.

Despite mass ministerial resignations/retirements, Melbourne’s seven months of hard lockdowns, mass privatisations (despite promising otherwise), and a raft of corruption scandals, Daniel Andrews’ Victorian Government is headed for an even bigger majority at the upcoming Victorian election: The ALP on 60.5% (up 1% point from early July) has increased its election-winning lead in Victoria over the

The latest survey of “48 leading economists” by the Economic Society of Australia and The Conversation asked “what other actions could authorities take to bring the inflation rate down?”. The second and third most popular choices related to reining in the gas cartel via domestic reservation and super profits taxes on fossil fuel producers: It’s

The post Economists back gas reservation and super profits taxes appeared first on MacroBusiness.

Morgan Stanley with the note. Global headline inflation climbed to 6.7%Y in June vs 6.3%Y in May. Food and energy prices are still main drivers. Global FX depreciation against the US dollar does not help, we analyze the FX pass-through to headline inflation and identify the most-exposed economies. Global inflation is still increasing, and recent

The post Global inflation still rising appeared first on MacroBusiness.

If case you haven’t seen it, Australian real income are in the process of crashing back to 2009 levels: This circumstance is driven by two main factors. Wage growth is weak and inflation is strong thanks largely to imported goods and the over-building of houses and infrastructure, and the energy shock. So, if you wanted

The post Unions need a new political party to defeat capital’s “Labor” appeared first on MacroBusiness.

Nordea sees it as slow and painful and not just in America. ——————————————————————————————————————————- The global economy continues to lose momentum, but central banks will concentrate on their efforts to rein in inflation. Long yields will rebound to higher levels, while the EUR/USD has more downside left. Many leading economic indicators have taken a beating, and

The post How fast will US inflation fall? appeared first on MacroBusiness.

The ferrous complex was firm on Friday, August 12, 2022: The outlook remains poor. Last week’s MySteel indexes were weak again, cement remains glutted and excavator usage is falling: With property sales once again falling away as credit issuance stalls, larger downside scenarios for property have opened up. The last two weeks of sales have

The post Daily iron ore price update (materially worse) appeared first on MacroBusiness.

Chinese credit was out Friday night and it is in all sorts. After a few good months, credit flow hit the wall in July printing just 756bn yuan: Year on year growth plunged into the red: The rolling annual is still trending down: Year to date flow has dropped below 2021: Credit stock has barely

The post China sails full steam into the liquidity trap appeared first on MacroBusiness.

DXY was up Friday night: AUD is on a rampage: Oil eased: Metals too: The AUD miners are not rebounding much: EM stocks popped: Junk is food for bulls: But the Treasury curve is still deeply inverted: As stocks price Nirvana: Contrary to wider bullishness and FOMO, markets are getting more short AUD: While stock

The post No FOMO! Shorts pile into Australian dollar appeared first on MacroBusiness.

A new sandpit for long side discussions, conspiracy theories, idees fixes and so on.

To be clear, the sandpit is for regular commenters to pursue points that distract from regular discussion, including conspiracy-theoretic takes on the issues at hand. It’s not meant as a forum for visiting conspiracy theorists, or trolls posing as such.

Dr Cameron Murray – author of the Book Game of Mates – gave stunning testimony to the parliamentary inquiry into housing affordability, whereby he documented how developers manipulate the land market to ration supply and maximise their profits. Shortly afterwards, ‘Highrise’ Harry Triguboff’s explained how Meriton had deliberately withheld apartment stock from the market to