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THE BLOT REPORT Friday, March 22, 2024 - 14:16 Source

We went and checked the mail today after a few days of not doing so. Our post office box was pretty full, which is fairly unusual. The contents were stuffed in a bag as we had other things to do before we went home. On arrival at home, my partner opened the letters, one of which was addressed to me from the New South Wales government. It was a fine notice for a parking offence in Queanbeyan in early March. The fact that I hadn’t been to Queanbeyan at all this year made me scratch my head in disbelief. Initially I suspected that the fine notice may have been bogus (i.e.

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MacroBusiness Friday, March 22, 2024 - 14:00 Source

On Thursday, Statistics New Zealand released the Q4 national accounts, which were an absolute shocker. Overall GDP contracted by 0.1% in the December quarter, missing economists’ forecasts of a 0.1% rise. Along with some modest downward revisions to recent history, GDP growth was 0.3% weaker year-on-year than the Reserve were expecting. “In the context of

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MacroBusiness Friday, March 22, 2024 - 13:30 Source

Sharri Markson of Sky News interviewed me Thursday night about the latest population statistics from the Australian Bureau of Statistics, which broke records in all major jurisdictions. Below are highlights from the interview. Sharri Markson: New figures show that immigration numbers for the year to September have soared to nearly 550,000 people, more than twice

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The Australian Independent Media Network Friday, March 22, 2024 - 13:19 Source

The Refugee Advocacy Network About the Palm Sunday Walk for Justice and Peace – Melbourne, 24 March 2024 Since 2014, the Refugee Advocacy Network, has brought together a wide range of groups to plan the Palm Sunday Walk for Justice for Refugees.   During the 1970s and 80s there was a tradition of holding Peace rallies…

The post Palm Sunday Walk for Justice and Peace appeared first on The AIM Network.

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MacroBusiness Friday, March 22, 2024 - 13:00 Source

For years, I have argued for a plebiscite on Australia’s future population. On Thursday – the same day it was revealed that Australia’s population grew by a record 660,000 people off 549,000 net overseas migration – the Senate unanimously voted down Pauline Hanson’s motion for a plebiscite on immigration levels. Below are highlights from Pauline

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The Australian Independent Media Network Friday, March 22, 2024 - 12:47 Source

We must speak to people who require assistance and listen to their needs instead of speaking over them. In the case of Australia’s refugee policy, we wasted billions on toxic cruelty when we could have done much better by cooperating internationally and supporting people humanely. One of the “greatest pre-resettlement programs in the world” for…

The post Human potential is crushed by disaster capitalism appeared first on The AIM Network.

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MacroBusiness Friday, March 22, 2024 - 12:30 Source

As they should. There is a fundamental data collection problem for the ABS when armies of Indian workers arrive and jump into Uber driving while applying for a million other jobs. The RBA futures curve lifted but did not change the outcome of a September cut and three in 18 months: Bond markets sold modestly

The post Markets fade crumbling ABS jobs credibility appeared first on MacroBusiness.

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MacroBusiness Friday, March 22, 2024 - 12:00 Source

Albert Edwards at Societe General. The looming fiscal crisis means we almost certainly haven’t seen the last of YCC.  I don’t pay for many subscriptions but do splash out on The Wall Street Journal, mostly to keep up with insightful articles by James Mackintosh (ex-FT). This week in The American Dream Accelerates Away From

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MacroBusiness Friday, March 22, 2024 - 11:30 Source

Note via Morningstar. Australian banks have had a great run of late, compared to both the ASX 200 and other major sectors. Commonwealth Bank (ASX: CBA) has stood out. It was largely flat for seven months into October last year, before exploding higher in recent months. Over the past 12 months, its share price has

The post CBA is the most expensive bank in the world appeared first on MacroBusiness.

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MacroBusiness Friday, March 22, 2024 - 11:00 Source

New data from Jarden economists estimates that around 15% of all Australian borrowers received help from the Bank of Mum and Dad, with many unable to buy a home without parental financial support. Real estate agency BresicWhitney also claimed that lending was no longer only for entry-level homes but also for family homes. “You will

The post Bank of Mum and Dad “tapped out” appeared first on MacroBusiness.

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xkcd.com Friday, March 22, 2024 - 11:00 Source

You know that asteroid that almost destroyed Earth in the 90s? Turns out the whole thing was secretly created by Michael Bay, who then PAID Bruce Willis and Ben Affleck to look heroic while blowing it up!

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MacroBusiness Friday, March 22, 2024 - 10:30 Source

Last year, the Albanese government signed two migration pacts with India that opened the path for decades of high immigration into Australia. These pacts, among other things, provide: Five-year student visas for Indians. Indian graduates of Australian tertiary institutions on a student visa can apply to work without visa sponsorship for up to eight years.

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MacroBusiness Friday, March 22, 2024 - 10:00 Source

Victoria is easily the nation’s most indebted state and also has the lowest credit rating. Its prognosis is also the poorest of Australia’s states, with Victoria’s debt projected to balloon to $247.2 billion by 2027, compared with just $55.2 billion in 2019: Victoria’s ballooning budget deficit is built on waste. Victoria’s “Big Build” infrastructure projects

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MacroBusiness Friday, March 22, 2024 - 09:57 Source

Every so often, ABS numberwang offers rent-seekers oxygen for their lies. It generally comes with a defensive howl and chart crime. The AFR is the master: While the jobs market has softened since last year, it remains very tight by historical standards and a record 14.2 million people had jobs in February. Strong hiring conditions

The post The labour market is loose as a goose appeared first on MacroBusiness.

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