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MacroBusiness Saturday, April 20, 2024 - 00:10 Source

Australian households have already been hit harder than almost anywhere else by rising mortgage rates: This surge in debt servicing costs has helped drive a record decline in Australian household disposable income: Analysis by Reserve Bank of Australia (RBA) economist Benjamin Ung notes that the proportion of home loans with fixed interest rates peaked at

The post Aussie mortgage rates will continue rising appeared first on MacroBusiness.

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MacroBusiness Saturday, April 20, 2024 - 00:05 Source

International Reads: Millennials want to retire by 60. Good luck with that. – USA Today The cost of owning a home is officially the highest on record, Redfin says. Here’s how bad it is out there – Fortune Florida sees thousands of people quit their jobs – News Week Dropbox’s CEO says managers mandating returns

The post Weekend Reading and MB Media Appearances appeared first on MacroBusiness.

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The Australian Independent Media Network Friday, April 19, 2024 - 21:50 Source

In 2013, I wrote a piece titled, “Climate Change: A layperson’s Dilemma” in which I pointed out the debunked theories of people like Andrew Bolt, Prof Ian Plimer, Tony Abbott, Alan Jones, Barnaby Joyce, Pauline Hanson, Malcolm Roberts, and others who insisted that climate change did not exist.  Science won the day, proving beyond doubt…

The post Nuclear Energy: A Layperson’s Dilemma appeared first on The AIM Network.

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MacroBusiness Friday, April 19, 2024 - 16:30 Source

Asian stock markets are having a bad end to the trading week due to the Israeli/Iranian conflict across the Middle East, with a strong safe haven bid in USD pushing all of undollars down further. The Australian dollar was trying to rebound after its recent large reversal but failed as it was briefly pushed below

The post Macro Afternoon appeared first on MacroBusiness.

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Renew Economy Friday, April 19, 2024 - 15:25 Source
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Renew Economy Friday, April 19, 2024 - 15:02 Source
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Renew Economy Friday, April 19, 2024 - 14:51 Source
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MacroBusiness Friday, April 19, 2024 - 14:00 Source

In the note below, independent economist Tony Alexander argues that the Reserve Bank of New Zealand has tightened interest rates too much and will be forced to slash them. Age impact on the spending downturn My view for a while has been that just as the Reserve Bank over-stimulated the economy during and for too

The post Reserve Bank “over-restricted” and will “cut interest rates quickly” appeared first on MacroBusiness.

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The Australian Independent Media Network Friday, April 19, 2024 - 13:56 Source

The skin toasted Australian Minister of Defence, Richard Marles, who resembles, with each day, the product of an overly worked solarium, was adamant. Not only will Australians be paying a bill up to and above A$368 billion for nuclear powered submarines it does not need; it will also be throwing A$100 billion into the coffers…

The post The Australian Defence Formula: Spend! Spend! Spend! appeared first on The AIM Network.

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MacroBusiness Friday, April 19, 2024 - 13:30 Source

On Saturday, I will be the headline speaker at a public forum in Adelaide:  “From housing crisis to eco-crisis: Why Australia’s population growth is unsustainable?” My presentation is entitled: “Australia’s immigration and the everything shortage”. Below is a detailed radio interview with Matthew Pantelis at Radio Five AA, where I discuss the key themes of

The post Australian immigration and the everything shortage appeared first on MacroBusiness.

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Renew Economy Friday, April 19, 2024 - 13:14 Source
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Renew Economy Friday, April 19, 2024 - 13:09 Source
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MacroBusiness Friday, April 19, 2024 - 13:00 Source

Albo is a liar. Not a conniving liar like ScoMo. A dumb liar like a political bovver boy: Professor Holden said Mr Banks had “raised a number of totally legitimate concerns that I and plenty of others have raised”. Professor Holden said there was a difference between safeguarding the sovereign manufacturing of essential products like

The post Albo’s is a manufacturing catastrophe appeared first on MacroBusiness.

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MacroBusiness Friday, April 19, 2024 - 12:30 Source

Apartment developer Tim Gurner let the cat out of the bag when he admitted that easing planning rules won’t magically boost housing construction: “Rich Lister and Melbourne developer Tim Gurner says while the anti-development stance adopted by many councils is a major roadblock, it is only a part of problem”. “He estimated that less than

The post Developer: Planning a side show in housing supply debate appeared first on MacroBusiness.

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MacroBusiness Friday, April 19, 2024 - 12:24 Source

All fog of war stuff, but retaliation of some sort is underway in Iran: Three large explosions heard in Isfahan south of Tehran, US officials confirm. The Natanz nuclear facility is located in Isfahan. Unconfirmed simultaneous explosions have also been reported in Syria and Iraq (Baghdad and Babil/Babylon province). Iran has established a no-fly-zone over

The post Markets freak as Israel bombs Iran appeared first on MacroBusiness.

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MacroBusiness Friday, April 19, 2024 - 12:00 Source

Great piece here from Bloomie: China’s first-quarter 5.3% growth handily beat expectations and Beijing’s own target of “around 5%.” But if you ask households, companies and even the taxman, the reality on the ground feels a lot less rosy. By the end of 2023, only 9.5% saw good job prospects, according to the central bank’s

The post How China gooses GDP appeared first on MacroBusiness.

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MacroBusiness Friday, April 19, 2024 - 11:30 Source

According to the Department of Home Affairs’ latest temporary visa data, there were a record 713,144 international students in Australia as of the end of February 2024: This is an increase of around 100,000 from the pre-pandemic peak. With Australia’s rental crisis raging out of control, eight peak bodies in the international education sector have

The post Universities fearmonger on international student cuts appeared first on MacroBusiness.

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MacroBusiness Friday, April 19, 2024 - 11:00 Source

New data from the Australian Securities & Investments Commission (ASIC) shows a big jump in external administrations in March, with 7,742 firms going under in the nine months to 31 March 2024: The following chart from Justin Fabo at Antipodean Macro shows that insolvencies surged in March to their highest number in decades: Construction continues

The post Construction sector drives jump in insolvencies appeared first on MacroBusiness.

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MacroBusiness Friday, April 19, 2024 - 10:30 Source

Brendan Coates from the Grattan Institute was at it again this week, calling on Australia’s major cities to copy Auckland and open up to high-density development: “The core problem when it comes to housing in Melbourne, is that in a lot of the most attractive areas – where people most want to live, with the

The post Why won’t housing supply YIMBYs ever mention Vancouver? appeared first on MacroBusiness.

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

The freshly re-elected Lord Mayor of Brisbane Adrian Schrinner has taken aim at the record net permanent and long-term arrivals figures released by the Australian Bureau of Statistics (ABS) on Tuesday. This data showed that Australia recorded the strongest monthly (105,500), quarterly (172,400), and annual (498,300) net permanent and long-term arrivals on record. Adrian Schrinner

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xkcd.com Friday, April 19, 2024 - 10:00 Source

 Where is London located? (a) The British Isles (b) Great Britain and Northern Ireland (c) The UK (d) Europe (or 'the EU') (e) Greater London

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Renew Economy Friday, April 19, 2024 - 09:43 Source
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MacroBusiness Friday, April 19, 2024 - 09:30 Source

The Market Ear on the new trend. That’s new April MTD – down moves bigger than up moves. Haven’t seen this since October 2023. Nomura NASDAQ – say hello to the 100 day NASDAQ is closing in on the 100 day moving average. 17500 is a massive short term support to watch. Note that the

The post Stocks only go down! appeared first on MacroBusiness.

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The Tally Room Friday, April 19, 2024 - 09:30 Source

One feature of the recent Tasmanian state election result was a surprisingly small number of candidates reaching a quota on primary votes, despite the quota being lower than any election in the last quarter century.

Just four candidates reached a quota: the leaders of the Liberal, Labor and Greens parties, and deputy premier Michael Ferguson.

Now that I have the final figures (and have grabbed some older data) I have been able to track how this compares to past elections, and have found that 2024 was indeed a bit unique.

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Your Democracy Friday, April 19, 2024 - 09:18 Source

The Russians are coming — or coming back, better put. 

As the November elections draw near, let us brace for another barrage of preposterous propaganda to the effect Russians are poisoning our minds with “disinformation,” “false narratives,” and all the other misnomers deployed when facts contradict liberal authoritarian orthodoxies.

 

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Renew Economy Friday, April 19, 2024 - 09:12 Source
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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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Renew Economy Friday, April 19, 2024 - 08:47 Source
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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

The post Albo’s population war destroys health system appeared first on MacroBusiness.

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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

The post Australia dollar levelled by USD “wrecking ball” appeared first on MacroBusiness.

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