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Your Democracy Wednesday, August 10, 2022 - 07:32 Source

US House of Representatives Speaker Nancy Pelosi has stated that she has no regrets about her recent controversial trip to Taiwan and described it as “totally worth it” in an interview with the Today show on Tuesday.

The 82-year-old politician insisted that she had “overwhelming bipartisan support” for the visit and that she and her delegation were very well-received by the Taiwanese government and its people.

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Your Democracy Wednesday, August 10, 2022 - 07:24 Source

In a display of support, the US has protected Ukrainian President Vladimir Zelensky from any criticism ever since Russia attacked Ukraine in February. As it becomes evident the war has been lost, someone will have to take the fall, and it appears that Washington is preparing to throw the leader in Kiev to the wolves.

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The Australian Independent Media Network Wednesday, August 10, 2022 - 06:00 Source

I was of the view that Newspoll was going out of the polling business for some time, so this one surprised me: Labor 56% LNP 44% Best Prime Minister: Anthony Albanese 59% Peter Dutton 25% The only reason I have posted these statistics courtesy of the Poll Bludger is to exemplify that the first step in restoring…

The post Restoring a democracy that the Neo-Cons butchered appeared first on The AIM Network.

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MacroBusiness Wednesday, August 10, 2022 - 00:10 Source

Sydney’s house price crash is accelerating with dwelling values now down 5.9% from their peak and quarterly losses running at their fastest pace since 1983: As clearly illustrated in the chart above, Sydney dwelling values began falling sharply following the Reserve Bank of Australia’s (RBA) first interest rate hike on 3 May. Since that first hike,

The post RBA sends Sydney house prices into freefall appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 10, 2022 - 00:05 Source

By Stephen Wu, Economist at CBA: Key Points: There is a strong correlation between consumer sentiment and consumption growth. Recently a gap has opened up, with sentiment much weaker than spending – although a large portion can be explained by economic factors. But consumer sentiment is still weak – even after accounting for other economic

The post CBA: Aussie household consumption is about to stall appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 10, 2022 - 00:01 Source

Global Macro / Markets / Investing: The Carried Interest Loophole Is Going to Outlast Us All – Mother Jones Why isn’t Big Oil up in arms about the climate-friendly Inflation Reduction Act? – Market Place Landmark climate and health care bill won’t crush corporate profits, Goldman Sachs says – CNN Recycling Solar Panels to Become

The post Links 10 August 2022 appeared first on MacroBusiness.

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Renew Economy Wednesday, August 10, 2022 - 00:01 Source

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Renew Economy Tuesday, August 9, 2022 - 18:05 Source

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Your Democracy Tuesday, August 9, 2022 - 17:34 Source

Ukrainian forces have “had the American military at their side” from the start of the conflict with Russia, the magazine Causeur cited a “well-placed analyst” in French intelligence as saying. Pentagon-hired contractors are allegedly “everywhere on the battlefield.”

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MacroBusiness Tuesday, August 9, 2022 - 16:30 Source

Asian stocks are generally directionless as the region picks up mixed cues from Wall Street overnight with the stronger USD and more hawkish Fed keeping risk sentiment at bay. The USD has pushed local currencies around again although the Australian dollar has dropped on today’s consumer sentiment print. Meanwhile oil prices are just holding on

The post Macro Afternoon appeared first on MacroBusiness.

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The Australian Independent Media Network Tuesday, August 9, 2022 - 16:07 Source

The United Nations prides itself on exposing, monitoring and noting the travails and vicissitudes to be found on this troubled planet. It also prides itself on being the premier international institution that protects, or at the very least keeps an eye out for, the principles of the Charter that underpin its existence. But as with…

The post Punishing Whistleblowers at the United Nations appeared first on The AIM Network.

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Your Democracy Tuesday, August 9, 2022 - 15:12 Source

Editor’s Note: This article was distributed by a Chinese government accepted source, but we believe it is worthy of a wider audience because it provides documentation of important ongoing dialogue within top circles in China unavailable elsewhere.

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Renew Economy Tuesday, August 9, 2022 - 15:06 Source

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Renew Economy Tuesday, August 9, 2022 - 14:31 Source

 Canva).

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MacroBusiness Tuesday, August 9, 2022 - 14:30 Source

Quotable Value (QV) is the latest data provider to report that New Zealand dwelling values are plummeting. QV’s House Price Index (HPI) reported that average dwelling values plunged 4.9% over the three months to July, with all but one major districts recording price falls: The average value of homes nationally peaked at $1,063,765 in January,

The post Reserve Bank signs New Zealand housing’s death warrant appeared first on MacroBusiness.

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Renew Economy Tuesday, August 9, 2022 - 14:25 Source

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MacroBusiness Tuesday, August 9, 2022 - 14:00 Source

If you were a powerful politician, there is a good chance you would make decisions that favour your mates. How do we know you might behave in this way? We set up a computer game to see whether everyday people get seduced into favouring their mates at the expense of others. The experiment involved over 600 university

The post Australian politics rigged by mates and grey corruption appeared first on MacroBusiness.

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Your Democracy Tuesday, August 9, 2022 - 13:43 Source

Sen. Bernie Sanders took to the Senate floor on Tuesday to offer a sweeping critique of the Democratic Party’s new reconciliation package, applying particularly close scrutiny to the legislation’s massive and destructive handouts to the fossil fuel industry.

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MacroBusiness Tuesday, August 9, 2022 - 13:40 Source

Until recently, oil was busy wrecking the business cycle. But, in the last few weeks, it has come off fast and is in the process of lifting economic activity. Where do we go from here? My own view is that it will hang on the Fed. Oil is not in sufficient deficit to drive the

The post Will oil ruin or save the cycle? appeared first on MacroBusiness.

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Your Democracy Tuesday, August 9, 2022 - 13:37 Source

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MacroBusiness Tuesday, August 9, 2022 - 13:20 Source

The Federal Chamber of Automotive Industries (FCAI) released new car sales data for July, with sales nationally down basically flat against the same month last year, but annual sales growth continuing to stall: Commenting on the result, CEO of FCAI Tony Webber explained that global supply chain issues continue to restrict sales: “Vehicle and component

The post Supply constraints stunt Aussie new car sales appeared first on MacroBusiness.

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MacroBusiness Tuesday, August 9, 2022 - 13:00 Source

The ABS today released its Household Spending Indicator for June, which revealed household spending increased 10.2% through the year in dollar terms, with both services (+15.9%) and goods (+5.0%), and discretionary (+10.8%) and non-discretionary (+9.8%) spending lifting: Annual spending growth was solid across all jurisdictions:   According to Jacqui Vitas, head of macroeconomic statistics at

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MacroBusiness Tuesday, August 9, 2022 - 12:45 Source

Last year when we all enjoyed a brief period of relative RBA sanity, it junked its business liaison program and said it would not tighten policy until it saw actual strong wage gains in hard data. As we know, that regime collapsed in a month or two as the RBA was once again freaked out

The post Broken NAB business survey forecasts wages explosion appeared first on MacroBusiness.

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MacroBusiness Tuesday, August 9, 2022 - 12:30 Source

Shadow employment and workplace relations minister Michaelia Cash has criticised the federal government’s upcoming jobs summit, claiming it will have union demands ‘rubber stamped’ at the expense of employers: Unions are “taking advantage” of Labor’s federal election win and will use the government’s upcoming jobs summit to have their demands “rubber stamped” at the expense

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Renew Economy Tuesday, August 9, 2022 - 12:28 Source

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Renew Economy Tuesday, August 9, 2022 - 12:25 Source

Hydrogen fuel cell bus

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MacroBusiness Tuesday, August 9, 2022 - 12:00 Source

An interesting fault line has developed between Australia’s economists on interest rates. On the hawkish side are outfits like ANZ and Westpac, who basically hold the market’s view that the official cash rate (OCR) will soar to a peak of 3.35%, meaning the RBA is only about half way through its monetary tightening cycle. As

The post Economists duke it out on Aussie interest rates appeared first on MacroBusiness.

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Your Democracy Tuesday, August 9, 2022 - 11:37 Source

The difficulty for the Australian Labor government in deciding how to respond to the Julian Assange case is that once a prosecution is characterised as a political prosecution then, by its nature, there can be no expectation of due process.

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MacroBusiness Tuesday, August 9, 2022 - 11:30 Source

Bill Evans of Westpac cheering on the destruction of his own bank! Consumption is not going to hold up for very long and business investment will be next. Pass the popcorn. —————————————————————————————– The Westpac Melbourne Institute of Consumer Sentiment Index fell by 3% from 83.8 in July to 81.2 in August. This reading is on

The post Consumer sentiment free falls with house prices appeared first on MacroBusiness.

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MacroBusiness Tuesday, August 9, 2022 - 11:00 Source

Residents of the UK are doing so: Like millions of people across Britain, Josina, a teacher from Sheffield, is being pushed into poverty by rising energy prices. This October, when bills are set to rise again, she will have to cut back on food and other essentials if she has any hope of keeping up

The post Should Australians go on an energy bill strike? appeared first on MacroBusiness.

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