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Renew Economy Wednesday, June 26, 2024 - 01:05 Source
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MacroBusiness Wednesday, June 26, 2024 - 00:05 Source

The “Yes in My Backyard” (YIMBY) movement contends that easing planning regulations and saturating Australia’s cities with high-rise apartments can restore housing affordability. Their argument fails when you consider that Sydney’s and Melbourne’s dwelling compositions have changed rapidly this century amid the substantial increase in unit & apartment construction: As noted by RMIT’s David Hayward

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George Monbiot Tuesday, June 25, 2024 - 23:35 Source

How Britain’s oldest animal welfare charity became a byword for cruelty on an industrial scale.

By George Monbiot, published in the Guardian  18th June 2024

How does it happen? How does an organisation end up doing the opposite of what it was established to do? This month marks the 200th anniversary of the foundation of the Royal Society for the Prevention of Cruelty to Animals: the world’s oldest animal welfare organisation. I wonder what there is to celebrate.

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The Australian Independent Media Network Tuesday, June 25, 2024 - 17:50 Source

“There are three sources of power in Chile: Pinochet, God and DINA.” (Chilean intelligence officer, remarks to a US military attaché, 1974). Decree 521 of the Chilean government of June 18, 1974, was a chilling moment in the country’s convulsed history. With the state now in the pathologically disturbed hands of a military dictatorship steered…

The post DINA: Pinochet’s Directorate for Murder and Torture appeared first on The AIM Network.

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MacroBusiness Tuesday, June 25, 2024 - 17:00 Source

Asian share markets have broadly lifted despite a falling Wall Street overnight with a weaker USD helping local currencies lift, except for Yen which remains hopelessly weak at record lows. The Australian dollar has pushed slightly higher to above the mid 66 cent level with mixed performance on commodity markets. Oil prices are still holding

The post Macro Afternoon appeared first on MacroBusiness.

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Your Democracy Tuesday, June 25, 2024 - 15:52 Source

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Renew Economy Tuesday, June 25, 2024 - 15:12 Source
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Renew Economy Tuesday, June 25, 2024 - 14:46 Source
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The Australian Independent Media Network Tuesday, June 25, 2024 - 14:38 Source

The Triple Conference took place in Albury in March. Conspiracists and hustlers appeared alongside the well-meaning and self-important to inform a small audience of largely white-haired elders about the North Korean conditions overtaking Australia. We are dark in politics and spirit. The “triple” in the name referred to the uniting of three distinct events. The…

The post An Albury conference exposes what freedom means on the Right appeared first on The AIM Network.

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Renew Economy Tuesday, June 25, 2024 - 14:09 Source
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MacroBusiness Tuesday, June 25, 2024 - 14:00 Source

Research undertaken by RBC economists Su-Lin Ong and Robert Thompson, reported in The AFR, has found that Australian households are saving much less than their global peers due to the impact of bracket creep and high mortgage repayments on their disposable income. RBC estimates that households saved just 0.9% of their disposable incomes in the

The post Aussies burn through savings war chest appeared first on MacroBusiness.

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MacroBusiness Tuesday, June 25, 2024 - 13:30 Source

Bloomie has salutary story on copper: As copper surged to record highs last month, several senior Chinese traders started trying to contact western hedge fund managers whose names they’d only read in the press. For years, the veteran traders’ privileged insight into their own economy had given them an edge in the copper market, where

The post Investment lessons from the copper bubble and bust appeared first on MacroBusiness.

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Renew Economy Tuesday, June 25, 2024 - 13:02 Source
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MacroBusiness Tuesday, June 25, 2024 - 13:00 Source

Labor energy policies have done this to the nation: A spokesperson for Aemo said the aim of Thursday’s notice was to signal the market faced elevated risks. Gas storage levels were slightly below those for this time of year compared with 2021 and 2022. Gas pipelines from Queensland were already at full capacity so there

The post Labor is the energy superidiot appeared first on MacroBusiness.

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MacroBusiness Tuesday, June 25, 2024 - 12:30 Source

Viktor Schvets at Macquarie is making more sense. In 1990s, Paul Krugman was advocating that Japan should embark on policies that are “credibly irresponsible; (must only look irresponsible but the world must be convinced that they are to carried out). In his view, this was the only way to shock Japan out of its liquidity

The post China so much worse than Japan appeared first on MacroBusiness.

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Renew Economy Tuesday, June 25, 2024 - 12:12 Source

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MacroBusiness Tuesday, June 25, 2024 - 12:00 Source

In March, the Centre for Independent Studies (CIS) released research showing that bracket creep will quickly eat away at the upcoming Stage 3 tax cuts. Last week, Michael Read at The AFR published analysis showing that Australia’s tax system is becoming increasingly reliant on slugging workers. The average taxpayer will lose $2000 to bracket creep by

The post Australian workers buried by bracket creep appeared first on MacroBusiness.

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MacroBusiness Tuesday, June 25, 2024 - 11:30 Source

The Market Ear on sinking stocks. Not so sexy SOX SOX is down to trend channel lows, trading just above the 21 day moving average. This trend has stayed intact since mid April, but recall what Goldman’s Callahan pointed out last week (here): “… only years that started faster in the 30 year history of

The post Tech bubble bursting? appeared first on MacroBusiness.

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MacroBusiness Tuesday, June 25, 2024 - 11:00 Source

The Albanese government published the Australian Universities Accord Final Report in February, which established the following higher education attainment targets: By 2050, the tertiary education attainment rate in Australia will have reached a minimum of 80% of the workforce, up from 60%. The percentage of Australians aged 25 to 34 who possess a tertiary education

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MacroBusiness Tuesday, June 25, 2024 - 10:43 Source

Westpac with the note. Westpac Consumer Sentiment Index up 1.7% to 83.6. Assessments of finances and buyer sentiment less negative. But inflation, interest rate, and growth fears weighing more heavily. Half of consumers expect mortgage rates to rise over the next 12mths. Unsettled outlook eroding confidence around jobs. Despite the improvement, consumer sentiment remains below

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MacroBusiness Tuesday, June 25, 2024 - 10:30 Source

Rebar futures continue to lead lower with SGX caught in their wake: Dalian is below support: Coking coal is approaching critical support: Some charts from Macquarie wrap us up. Steel margins still suck: When all you have is a hammer: Flat versus long! Plenty of iron ore: Cost curve shakeout doesn’t begin until below $80:

The post Iron ore pukes appeared first on MacroBusiness.

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MacroBusiness Tuesday, June 25, 2024 - 10:00 Source

Alex Joiner, chief economist at IFM Investors, posted the below chart last week, showing that “the healthcare sector has added more than 100,000 more employed than all other sectors combined since Q4 ’22 – with education accounting another 100,000”: The healthcare and education sectors combined now account for one in five job vacancies, according to

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Your Democracy Tuesday, June 25, 2024 - 09:43 Source

Wikileaks founder Julian Assange will plead guilty to US criminal charges as part of a deal that allows him to go free, according to court documents. 

Assange, 52, was charged with conspiracy to obtain and disclose national defence information. 

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Your Democracy Tuesday, June 25, 2024 - 09:34 Source

There comes a time in the history of a nation when extreme inequality turns into pillage.  If economic power is concentrated so is political power, and the wealthy are able to do whatever they damn well please.  They can lie, cheat, and steal because they know they won’t be held to account.

Have the super-rich now taken control of our political and economic systems? Some current news makes me worry.

 

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MacroBusiness Tuesday, June 25, 2024 - 09:30 Source

DXY was soft last night: AUD firmed: North Asia is going down: Oil is being a CTA pest: Copper and metals look ready to break down again: EM is holding: Junk is calm: The US curve is flattening again as the economy slows: High-flying tech has flamed out for now: I would charactise today’s forex

The post Australian dollar firms as markets go to water appeared first on MacroBusiness.

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Renew Economy Tuesday, June 25, 2024 - 09:29 Source
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Your Democracy Tuesday, June 25, 2024 - 09:11 Source

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MacroBusiness Tuesday, June 25, 2024 - 09:00 Source

Wall Street started the new trading week with a plunge from tech stocks, lead by Nvidia, with the lack of any economic news also sending a high USD down slightly against the majors as Euro fought back after weeks of depression. European stocks surged back however, making for a mixed lead for Asian shares today.

The post Macro Morning appeared first on MacroBusiness.

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The Australian Independent Media Network Tuesday, June 25, 2024 - 08:15 Source

By Denis Hay Description Explore why post-WWII was the best time to grow up, highlighting the economic boom, social advancements, and Australia’s potential for a compassionate political system. Introduction Growing up in the years following the Second World War was an experience many look back on with fondness. This era was marked by significant economic…

The post Growing Up After WWII: A Golden Era for Prosperity appeared first on The AIM Network.

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MacroBusiness Tuesday, June 25, 2024 - 08:11 Source

Everybody knows that the Albanese government’s target of building 1.2 million homes over five years, or 240,000 homes per year, has zero chance of being achieved. To achieve this target, Australia would need to build 20,000 more homes than the record 220,000 average number built in 2017 and maintain this pace for five consecutive years.

The post Australia’s housing targets are a fantasy appeared first on MacroBusiness.

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