Most share markets in Asia are lifting going into the final trading session of the week although Japanese bourses are cautious given the domestic election this weekend and the concern over inflation after today’s June print. Meanwhile speculation is rising that the Fed will cut rates at the next FOMC meeting with currency markets selling
The post Macro Afternoon appeared first on MacroBusiness.
The economy must suffer, and workers in particular, because the Reserve Bank of Australia will not, under any circumstances, mention immigration. And so, it carries on like a pork chop about the risk of rising wages; when it is not fighting 620k unemployed, it is fighting 50 million unemployed in India, or 350% unemployment. There
The post Blind RBA needs to cut 50bps appeared first on MacroBusiness.
Harrisburg: US President Donald Trump says he will sue the Murdoch-owned The Wall Street Journal for a story claiming he wrote a cryptic letter – with a drawing – to now-convicted sex offender Jeffrey Epstein for the disgraced financier’s 50th birthday.
In June, Australian property values reached a record high, as illustrated by PropTrack below. The Westpac Consumer Sentiment Index, released this week, confirmed that Australians had turned hyper-bullish on property prices, expecting large increases in the coming months. As illustrated below by AMP chief economist Shane Oliver, consumer expectations for house price growth have hit a
I have noted the pivot at Crikey to Wokey over the past few years. Gone are hard-hitting critiques based upon a push for political and national interest transparency. In their place now is a conga line of whingers seeking to cancel anybody who upsets a snowflake. This is its choice, and reducing its coverage to
The post Albo releases tide of China grovelling appeared first on MacroBusiness.
Australia is experiencing a generational housing shortage, exacerbated by historically high immigration-driven population growth and a sluggish housing supply. A meeting of the national cabinet in August 2023 agreed on a National Housing Accord, which aims to build 1.2 million new homes between July 1, 2024, and July 1, 2029. This 1.2 million target requires
Net overseas migration into New Zealand has collapsed to a 2½-year low and is tracking around half the historical average. The slump in immigration has worked wonders for housing affordability, with home prices and rents declining amid weaker demand. Real house prices in New Zealand have crashed back to pre-pandemic levels, while mortgage rates have
The Australia-United States Free Trade Agreement (AUSFTA), which took effect in 2005, was a bad deal for Australia that favoured the United States at our expense. The Crawford School of Public Policy at the Australian National University (ANU) analysed AUSFTA and discovered that a decade later, the agreement had diverted more trade than it created.
I blew through 50,000 words on the first draft of the manuscript for World War 3.2 yesterday. That always feels like a significant milestone and I was pretty happy to see the numbers tick over.
Weirdly enough, I have this thing where I get frustrated when the manuscript reaches 60,000 words. I hold onto that frustration all the way through the 60s until I reach 70,000 words, at which point it feels like I can see the end of the book even if I'm aiming for at least 120K words, which I am with WW 3.2.