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MacroBusiness Friday, April 19, 2024 - 09:00 Source

The USD rebounded on more hawkish Fedspeak overnight, with Wall Street still unable to put runs on the board as inflation concerns linger. European stocks moved higher on more dovish speak from the ECB which will give Asian stock markets mixed signals on the open this morning. The Australian dollar retraced back to the 64

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Friday, April 19, 2024 - 08:38 Source

The Albanese Government has declared a population war on Australians. It intends to substitute the existing population with cheap foreign labour from the Third World as swiftly as possible. The strategy’s beauty is twofold. It lowers the standards and costs of all public services, and the population accepts it because it is being debased so

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MacroBusiness Friday, April 19, 2024 - 08:07 Source

DXY won’t go away: AUD is stuck at the bottom of its range: Anyone who thinks CNY is on its way to reserve currency status is not paying attention: Oil faded: But the Goldman-engineered copper scam is running full tilt: Miners weak: EM meh: Junk hope: No landing yields: Stocks are landing instead: Charlie McElligott

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Your Democracy Friday, April 19, 2024 - 07:39 Source

Government media funding supports the failing mainstream media (MSM) and right-wing advocacy groups like the Institute of Public Affairs.

The News Media Bargaining Code gifts $1b over four years from Google and Facebook mainly to Nine Network, Seven West Media, Guardian, and News Corp. The last two are foreign owned.

 

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Your Democracy Friday, April 19, 2024 - 06:14 Source

US President Joe Biden told an interviewer that he’d warned the Israeli government against attacking itself, in what appears to be the aging leader’s latest gaffe, and one that has again raised concerns over his mental state.

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Your Democracy Friday, April 19, 2024 - 05:45 Source

US-backed proposals to seize frozen Russian assets could undermine the international order, European Central Bank (ECB) President Christine Lagarde has cautioned. Her comments came during a meeting in Washington on Wednesday, where the G7 finance ministers and central bank governors were discussing the issue of using the immobilized assets of the Russian central bank to support Ukraine.

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MacroBusiness Friday, April 19, 2024 - 00:10 Source

The geniuses at the RBA have turned their eye to Chinese steel, and, as usual, the outcome is a disaster: Weakness in the Chinese urban residential construction sector has persisted since 2021, and has significantly reduced the sector’s demand for steel. However, overall demand for steel has remained resilient due to recent growth in infrastructure

The post RBA’s iron ore meltdown appeared first on MacroBusiness.

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MacroBusiness Friday, April 19, 2024 - 00:05 Source

The National Bank of Canada has derided the government’s mythical plan to build 3.87 million new homes by 2031. This target would require an average annual run rate of 550,000 housing starts per year, about double the record high of 270,000 units in 2021. National Bank of Canada notes, “we’re also going to need people

The post Why Australia will never build enough homes appeared first on MacroBusiness.

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Your Democracy Thursday, April 18, 2024 - 20:48 Source

Björn Höcke, the chair of the far-right Alternative for Germany party (AfD) in the eastern state of Thuringia, stands accused of intentionally deploying a slogan used by the Nazi party's paramilitary wing in a speech at a campaign rally.

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MacroBusiness Thursday, April 18, 2024 - 16:30 Source

Asian stock markets are trying to rebound from a bad trading week so far following the escalation in conflict across the Middle East, with yet more hawkish Fedspeak overnight not helping risk sentiment . The USD remains strong against most of the undollars but had a small retracement while bond markets calmed down as well.

The post Macro Afternoon appeared first on MacroBusiness.

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Your Democracy Thursday, April 18, 2024 - 15:31 Source

Speaker of the US House of Representatives Mike Johnson announced on Wednesday that he is sticking with his plan to send a series of foreign aid bills to the floor, including those for funding for Ukraine and Israel. Johnson said in a note to legislators that they'll vote on these on Saturday evening.

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John Quiggin Thursday, April 18, 2024 - 15:19 Source

In all the discussion of Leif Wenar’s critique of Effective Altruism , I haven’t seen much mention of the central premise: that development aid is generally counterproductive (unless, perhaps, it’s delivered by wealthy surfers in their spare time). Wenar is quite clear that his argument applies just as much to official development aid and to the long-standing efforts of NGOs as to projects supported by EA. He quotes burned-out aid workers “hoping their projects were doing more good than harm.”

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