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Renew Economy Wednesday, July 17, 2024 - 13:48 Source
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Renew Economy Wednesday, July 17, 2024 - 13:48 Source
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Renew Economy Wednesday, July 17, 2024 - 13:47 Source
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MacroBusiness Wednesday, July 17, 2024 - 13:30 Source

I keep warning that the Victorian Government’s moronic decision to proceed with the $200 billion Suburban Rail Loop (SRL) will starve the state’s residents of funding for vital infrastructure and services. Already, we are witnessing the impacts with the state government slashing funding to health clinics and hospitals. “Victoria’s priority primary care clinics are bracing

The post Victoria transforms into “the sick state” appeared first on MacroBusiness.

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MacroBusiness Wednesday, July 17, 2024 - 13:00 Source

Australia welcomed an extraordinary 980,000 net overseas migrants over the last two calendar years. According to the May federal budget, net overseas migration will moderate to 395,000 in 2023-24, then 260,000 in 2024-25. The most recent statistics suggest that net overseas migration will easily exceed the federal budget’s forecast. The official quarterly net overseas migration

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MacroBusiness Wednesday, July 17, 2024 - 12:30 Source

This stuff is completely nuts: The Greens have attacked the US alliance, claiming it increases the risk of conflict, undermines ­Australian sovereignty and ­compromises stable relations with Beijing, as the minor party ramps up calls to slash defence spending and tear up plans for nuclear-powered submarines. Defence spokesman for the minor party, David Shoebridge, said

The post Loony Greens a risk to Aussie freedom appeared first on MacroBusiness.

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Renew Economy Wednesday, July 17, 2024 - 12:29 Source
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MacroBusiness Wednesday, July 17, 2024 - 12:10 Source
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Renew Economy Wednesday, July 17, 2024 - 12:03 Source
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MacroBusiness Wednesday, July 17, 2024 - 12:00 Source

ANZ with the note. ANZ weekly consumer confidence is going backwards amid the first few weeks of tax cuts: Consumer confidence fell 0.5pts last week to 78.5pts. The four-week moving average fell 0.5pts to 79.8pts. •‘Weekly inflation expectations’ rose 0.2ppt to 5.1%, while its four-week moving average rose 0.1ppt to 5.0%. •‘Current financial conditions’ (over

The post Tax cuts land with a whimper not a bang appeared first on MacroBusiness.

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MacroBusiness Wednesday, July 17, 2024 - 11:30 Source

If you want to know why it is so hard to break the hoodoo of the immigration economy, look no further than today’s CFMEU rubbish: Prime Minister Anthony Albanese and Victorian Premier Jacinta Allan were separately sent detailed evidence in 2022 that CFMEU officials were threatening extreme violence and unlawfully black-banning non-union-preferred firms from state

The post CFMEU exposes dark heart of immigration economy appeared first on MacroBusiness.

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MacroBusiness Wednesday, July 17, 2024 - 11:00 Source

Sydney’s housing market is broken beyond repair. Sydney’s median house price has passed $1.6 million according to Domain: Median weekly rents across Sydney have also ballooned over the past three years, with detached houses experiencing the fastest inflation: With affordable housing non-existent across Sydney, “ultra-modern single and double bed capsules” are now being marketed as an

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MacroBusiness Wednesday, July 17, 2024 - 10:55 Source

Westpac with the note. Leading Index growth rate nudges back up to –0.13%. Lower commodity prices partially offset by stabilising hours worked. Economic activity improving but to remain below trend in to early 2025. Westpac’s growth forecasts are broadly consistent with the Leading Index signals. GDP growth is expected to come in at an annualised

The post Aussie leading index bogged appeared first on MacroBusiness.

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MacroBusiness Wednesday, July 17, 2024 - 10:30 Source

Australians are continually told that we need to run a high immigration policy to alleviate skills shortages. The people making this claim never acknowledge that Australia’s population has ballooned by 8.3 million this century via record net overseas migration, yet skills shortages are worse than ever. Recruitment data from Jobs & Skills Australia has once

The post Australia’s ‘skilled’ migration system fails again appeared first on MacroBusiness.

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MacroBusiness Wednesday, July 17, 2024 - 10:00 Source

It would be curmudgeonly to not acknowledge the possibility that Chinese property sales are somewhere near the bottom: Lower-tier ghost cities are down a very long way: Ghost city inventory marches higher: Completions have rebounded some: I expect completions to worsen into next year. Meanwhile, a very nasty external shock is gathering: New tariffs of

The post Trump to “halve” Chinese growth appeared first on MacroBusiness.

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xkcd.com Wednesday, July 17, 2024 - 10:00 Source

IMO the thymus is one of the coolest organs and we should really use it in metaphors more.

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Renew Economy Wednesday, July 17, 2024 - 09:41 Source
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MacroBusiness Wednesday, July 17, 2024 - 09:30 Source

Shanghai rebar is back at the lows. The iron ore jaws are gaping, meaning further destocking pressure from steel mills: Mad Dalian is range trading: Coking coal not so much: RIO’s Pilbara killer is running hard: • Subsequent to the end of the quarter, all conditions were satisfied for Rio Tinto’s investment to develop the

The post Pilbara killer “unconditional” appeared first on MacroBusiness.

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MacroBusiness Wednesday, July 17, 2024 - 09:00 Source

Overnight the latest US retail sales print surprised to the upside with a new record high on the Dow Jones and S&P500 as risk markets continue to price in the Fed cutting and the world going to hell in a handbasket with the election of Trump in November as the yield curve went further into

The post Macro Morning appeared first on MacroBusiness.

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New Politics Wednesday, July 17, 2024 - 09:00 Source

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Your Democracy Wednesday, July 17, 2024 - 08:52 Source

Russia’s former president, Dmitry Medvedev, levels a scathing criticism of what he termed the NATO/EU Holy Trinity of leadership. The current Deputy Chairman of Russia’s Security Council Unleashed overdue criticism of NATO boss Mark Rutte, EU chief Ursula von der Leyen, and Estonia’s Prime Minister Kaja Kallas. Medvedev’s cutting revelations reveal more evidence of why the Western alliance is disintegrating.  

 

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MacroBusiness Wednesday, July 17, 2024 - 08:50 Source

The weekly ANZ-Roy Morgan consumer confidence index fell another 0.5%, which was the second weakest result since early December 2023: Confidence is now 36pts lower than its pre-COVID five-year (2015–19) average. It has also spent a record 76 straight weeks below the mark of 85. Commenting on the result, ANZ Economist Madeline Dunk noted: “While

The post Australians have completely lost faith in the economy appeared first on MacroBusiness.

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MacroBusiness Wednesday, July 17, 2024 - 08:00 Source

The latest SEEK employment data suggests that Australia’s job market may have hit a tipping point. The number of job ads reported on SEEK fell by 1.5% in June to be tracking 36.2% below their peak. The number of applicants per job ad surged by 3.0% in May (latest available) to be up 61.6% over

The post Unemployment to rise as small businesses slash recruitment appeared first on MacroBusiness.

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Renew Economy Wednesday, July 17, 2024 - 07:24 Source
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MacroBusiness Wednesday, July 17, 2024 - 05:33 Source

This is what happens when inept and cowardly politicians run a country. I give you Albo’s Inflation Island: According to interest rate futures, every DM in the world is going to see 100bps+ of interest rate relief over the next year, while Australia’s get one lousy cut. All thanks to two Albanese Government fateful blunders:

The post Rate cuts coming everywhere but Australia appeared first on MacroBusiness.

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MacroBusiness Wednesday, July 17, 2024 - 00:10 Source

Canada’s economy is an unmitigated disaster. Canada has experienced an unprecedented population boom, exceeding even Statistics Canada’s most bullish “high growth” projections: According to economists at the National Bank of Canada, the country’s population expanded by 1.4 million more people in 2022 than Statistics Canada forecasted in its “median growth scenario.” An unprecedented rental crisis

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MacroBusiness Wednesday, July 17, 2024 - 00:05 Source

The Australian Energy Market Operator (AEMO) has been almost as unequivocal as me on gas: Opposition Leader Peter Dutton’s plan to build seven nuclear reactors would take too long to replace ageing coal generators, the chief executive of the Australian Energy Market Operator has warned, as he backed gas as the grid’s “ultimate backstop”. “Even

The post Which superidiot will walk the gas red carpet to power? appeared first on MacroBusiness.

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Your Democracy Tuesday, July 16, 2024 - 20:51 Source

Just days after the attempted assassination of former President Donald Trump, theories are flying from all directions. Many who ridiculed the “conspiracy theories” of conservatives are now suggesting the whole event was a set-up to boost Trump in the polls ahead of the election. Others suggest it was the “deep state” or even foreign actors who organized it.

 

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MacroBusiness Tuesday, July 16, 2024 - 16:30 Source

A mixed session on Asian markets with last night’s meagre lift on Wall Street not translating to further confidence in the region, with a much firmer USD not helping. Bond markets are selling off, indicating a potential Trump 2.0 win in November with the Australian dollar off from its six month high as it retraces

The post Macro Afternoon appeared first on MacroBusiness.

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THE BLOT REPORT Tuesday, July 16, 2024 - 16:27 Source

Denisova cave, situated in the foothills of Siberia’s Altai Mountains, is the only site in the world known to have been occupied by both archaic human groups (Neanderthals and Denisovans) at various times, as well as by us ‘modern’ humans. 

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