Below is an extract of an interview with Sharri Markson (Sky News) and Warren Hogan (Judo Bank) discussing Victoria’s widespread power outage, which left some 500,000 homes without power on Tuesday evening after a fierce storm rolled through Victoria. I argue that East Coast Australia has shot itself in the foot by creating an artificial
SQM Research has released rental vacancy rate data for January, which declined a sharp 0.2% over the month but was 0.1% higher than a year earlier: Meanwhile, capital city asking rents increased by 1.4% in the 30 days leading up to 14 February 14 2024, bringing the 12-month increase to 13.1%. National rents rose across
Legal challenges regarding the Israel-Gaza War are starting to bulk lawyers’ briefs and courtroom proceedings. South Africa got matters underway with its December application before the International Court of Justice accusing Israel of genocide in its campaign against the Palestinians. While determining whether genocide has taken place, the ICJ issued an interim order warning Israel…
The latest Seek jobs survey showed that the number of applicants per job ad surged in 2023, well beyond the pre-pandemic level: The latest Statement of Monetary Policy (SoMP) from the Reserve Bank of Australia (RBA) forecasts that Australia’s unemployment rate will rise to 4.3% by the end of 2024, which is just 0.4% above
The Market Ear with more good news. VIX mania VIX is putting in the biggest up candle in “forever”. Refinitiv VIX panic kicking in VIX has not closed here since the melt up started in late October 2023. You do not compare volatility to trending assets over time, but the shorter term chart shows a
The post More on the stocks panic appeared first on MacroBusiness.
Last decade saw the largest surge in high-rise apartment construction in Australia’s history, concentrated in the country’s major metropolitan cities. This unprecedented increase in high-rise apartment complexes has been accompanied by a spike in construction defects and quality issues, including cracked foundations, water leaks, balcony defects, and flammable cladding. Notable examples include Sydney’s Opal and
The Australian Bureau of Statistics (ABS) released data showing that Victoria recorded a net decrease of 7,606 businesses during the 2022-23 financial year. The rising cost of doing business in Victoria prompted many firms to relocate interstate or overseas, with rising state taxes being one of the key reasons cited. By contrast, Queensland experienced the
Westpac with monthly consumer sentiment. While sentiment is still firmly pessimistic there finally looks to be some light at the end of the tunnel for Australian consumers. Moderating inflation and shifting expectations for interest rates appear to be the main factors behind the lift, with some additional support coming from the prospect of broader income
The NSW Productivity Commission blames high housing costs for driving younger residents out of Sydney, resulting in a “brain drain” of 30 to 40 year olds. The NSW Productivity Commission has blames a “lack of supply” and restrictive zoning as the drivers of Sydney’s housing crisis, which is forcing residents out. From the ABC: “Sydney
Energy is everything in the modern economy. It is everything in modernity itself. Keeping the lights on at night kills the ghouls that gave rise to voodoo value systems since the species was born. How any self-respecting modern country can allow its energy supply to be at risk is beyond my understanding. It is an
The post Australian energy markets fall apart appeared first on MacroBusiness.
Am I in the middle of a bad dream
In which the President of the US is a complete has-been
A round arsehole who never was honest — always hustling
Deceitful like a devil trying his luck as a human being
A declining demented old crazy lunatic psychotic loony
With a memory so bad it’s got him out of responsibility
But dares to still run the shitty most deceitful entity