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MacroBusiness Tuesday, February 20, 2024 - 11:30 Source

OER is the core of the bullish equity market trade. It is the primary measure of housing inflation in the US CPI. This measure shocked most in last week’s strong CPI because OER normally tracks much weaker and more timely private indexes. Goldman has more. We expected and indeed received a large “January effect” in

The post OER you kidding me? appeared first on MacroBusiness.

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Renew Economy Tuesday, February 20, 2024 - 11:18 Source
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MacroBusiness Tuesday, February 20, 2024 - 11:00 Source

The ABC’s David Taylor published an article on Friday warning that Australia’s economy is stalling, pointing to higher unemployment in the months ahead. Taylor cites some leading economists who believe Australia’s job market has turned the corner, as evidenced by slowing business activity in addition to the uptick in the unemployment rate. “I absolutely think

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The Australian Independent Media Network Tuesday, February 20, 2024 - 11:00 Source

By Antony Loewenstein Israel’s war on Gaza since 7 October has caused the biggest number of Palestinian deaths and largest displacement since the 1948 Nakba. Nearly five months after the brutal Hamas attacks on 7 October and Israel’s unrelenting response against the people and societal fabric of Gaza, there’s no end in sight. Every day…

The post Where the Palestine laboratory takes us all appeared first on The AIM Network.

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MacroBusiness Tuesday, February 20, 2024 - 10:30 Source

The latest data from PropTrack shows that Brisbane has recorded the strongest dwelling value growth on the East Coast since the beginning of the pandemic in March 2020: Brisbane dwelling values have risen 58% since March 2020, according to PropTrack, dwarfing the 31% growth in Sydney and 15% growth in Melbourne over the same period.

The post FOMO fuels Brisbane’s house price boom appeared first on MacroBusiness.

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MacroBusiness Tuesday, February 20, 2024 - 10:00 Source

Albo will be thrilled to serve his Beijing masters: Australia’s barley sales to China have soared since Beijing scrapped tariffs six months ago, highlighting the power of the huge market as the wine industry Down Under prepares for a possible end to its restrictions. Looks terrible! Except the barley just went elsewhere. The 2020 drop

The post Albo ships barley and national interest to China appeared first on MacroBusiness.

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The Australian Independent Media Network Tuesday, February 20, 2024 - 09:57 Source

By Bert Hetebry   A group of South Asian men arrived on our doorstep seeking shelter, seeking a place to be made welcome, seeking safety and security. We don’t know why they left their homelands, but they undertook a dangerous journey, finding their way from Bangladesh, Pakistan and India to Indonesia to board small, overcrowded boats…

The post No, no, no, no. Not more ‘illegals’! appeared first on The AIM Network.

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MacroBusiness Tuesday, February 20, 2024 - 09:30 Source

Over the weekend, I was interviewed by Luke Grant on Radio 2GB, where we discussed the sharp deterioration of Australia’s labour market and housing affordability, both of which are being negatively impacted by the federal government’s mass immigration policy. Below are highlights from the interview, along with key charts. ABS Labour Force data: The January labour

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MacroBusiness Tuesday, February 20, 2024 - 09:00 Source

Last night saw quiet markets due to the US long weekend with bond markets also sanguine, with European shares advancing slightly. The USD was basically unchanged with an almost empty economic calendar as the Australian dollar able to get off the floor and back above the 65 cent level. 10 year Treasury yield futures are

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Tuesday, February 20, 2024 - 08:30 Source

Back from holiday and the much anticipated new boom in steel output is caput: The benchmark March iron ore SZZFH4 on the Singapore Exchange slid 2.91% to $127.45 a ton, as of 0706 GMT, in part due to fading bets of early U.S. rate cuts amid stronger-than-expected U.S. producer prices in January. The weakness in the Singapore benchmark came

The post Iron ore goes splat appeared first on MacroBusiness.

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MacroBusiness Tuesday, February 20, 2024 - 08:00 Source

Watching the daily pump and dump of Bloomberg stories on China has become an amusing sport. Every day starts with bullishness and every end with bearish failure. Yesterday was all about how holiday spending, property and stocks boomed over LNY. By the close, it was a bust for spending: A deeper dive by economists at

The post China is the new USSR appeared first on MacroBusiness.

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Cheeseburger Gothic Tuesday, February 20, 2024 - 07:55 Source

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Your Democracy Tuesday, February 20, 2024 - 07:46 Source

HALLE, Belgium (AP) — The writing of angry farmers was on the Paris-to-Brussels highway in giant yellow letters visible from up high: “Ursula, We are here!” 

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MacroBusiness Tuesday, February 20, 2024 - 07:30 Source

By now, it is consensus that the equity market is in a bubble, which is a bit oxymoronic. The Market ar has more.  Titans then & now Intel and NVDA from 1995 to today. Axios The wedge On the one hand, the current wedge of market cap over earnings (for tech & communications) is starting

The post What if it’s not a bubble? appeared first on MacroBusiness.

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MacroBusiness Tuesday, February 20, 2024 - 00:05 Source

CoreLogic has released analysis showing that the price gap between detached houses and apartments hit a record high $293,950 as at January 2024: “At the onset of the pandemic in March 2020, the house premium, or the difference between median capital city house and unit values, was just 16.7%. Fast forward almost four years later,

The post Aussies desperately want to live in houses, not high-rise appeared first on MacroBusiness.

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George Monbiot Monday, February 19, 2024 - 22:39 Source

This could be not only Labour’s last chance but, if the party doesn’t recover some courage, British democracy’s.

By George Monbiot, published in the Guardian 11th February 2024

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Your Democracy Monday, February 19, 2024 - 21:08 Source

The Western Ruling Elite: Its Development and Its Betrayal

THE PROBLEM WITH THE FOLLOWING ARTICLE BY FINN ANDREEN IS SIMPLE: IT IGNORES THE FACT THAT RULING ELITES HAVE ALWAYS BEEN OLIGARCHIC. YET IN SOMEWAY, IT IS INTERESTING TO SEE SOME ATTEMPTS AT STUDYING (AND SOLVING?) THE “PROBLEM” OF ELITISM IN DEMOCRACY — FROM AN ELITIST PERSPECTIVE….

 

BY Finn Andreen

 

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Renew Economy Monday, February 19, 2024 - 18:34 Source
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Renew Economy Monday, February 19, 2024 - 18:27 Source
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MacroBusiness Monday, February 19, 2024 - 17:00 Source

A cautious start to the trading week as Asian share markets absorb the reopening of Chinese equities which started lower despite some upbeat macro news. The USD is slightly lower against all the major currency pairs, especially gold while the Australian dollar is finally making some headway as it climbs  above the 65 cent level

The post Macro Afternoon appeared first on MacroBusiness.

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Cheeseburger Gothic Monday, February 19, 2024 - 15:45 Source

It's a surprise to me that we still have must-see TV. Or appointment television, or whatever the marketing wizards are calling it these days. I suspect most folks do have at least one series they wait for each week. For me, at the moment, it’s Masters of the Air on Apple TV.

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Renew Economy Monday, February 19, 2024 - 15:33 Source
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Renew Economy Monday, February 19, 2024 - 15:26 Source
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MacroBusiness Monday, February 19, 2024 - 14:30 Source

Bank economists and financial markets have become more hawkish on New Zealand interest rates following stronger-than-expected labour force data. Last week, economists at ANZ changed its interest rate projection, “forecasting 25bp hikes in both February and April, taking the OCR to 6%”. “We are now forecasting cuts from February 2025, ultimately taking the OCR back

The post Rental inflation a thorn in Reserve Bank’s side appeared first on MacroBusiness.

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Renew Economy Monday, February 19, 2024 - 14:25 Source
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The Australian Independent Media Network Monday, February 19, 2024 - 14:21 Source

Oxfam Media Release We are appalled by the harrowing developments in Rafah, Gaza’s most populated area where 1.5 million people are sheltering as their last resort – over half a million of them children. If Israel launches its proposed ground offensive, thousands more civilians will be killed and the current trickle of humanitarian aid risks…

The post Rafah, Gaza: Urgent Statement from CEOs of Humanitarian and Human Rights Organisations appeared first on The AIM Network.

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Renew Economy Monday, February 19, 2024 - 14:19 Source
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The Australian Independent Media Network Monday, February 19, 2024 - 14:11 Source

He was sweet and well meaning, but he was old. He was hazy. His memory was poor. Doddering, confused, the self-proclaimed leader of the Free World seemed ready to check into a retirement village. That, at least, is the thick insinuation of the Special Counsel’s report on President Joe Biden’s mishandling of classified documents when…

The post Joe Biden: The Damnation of Age appeared first on The AIM Network.

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MacroBusiness Monday, February 19, 2024 - 14:00 Source

Domain has published the below table showing the shocking increase in deposits required to purchase a median-priced house across the three largest Australian cities. As you can see, someone who purchased a house in Sydney in December 2018 at the then-median price of little under $1,067,000 would have needed $213,400 in savings for a 20%

The post Home ownership becomes a distant dream appeared first on MacroBusiness.

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The Australian Independent Media Network Monday, February 19, 2024 - 13:53 Source

With Australians enduring intense climate-related disasters during the past five years, analysts and lawyers are warning that prospective homeowners and investors could be buying into a perfect storm.  Making buyers aware of the potential bushfire, flooding and coast erosion threats to property could be a compliance issue for governments, property lawyers, and the insurance industry.…

The post Revealed: Properties in nature’s firing line appeared first on The AIM Network.

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