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Renew Economy Thursday, July 3, 2025 - 01:12 Source
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THE BLOT REPORT Wednesday, July 2, 2025 - 17:27 Source

I bumped into something very strange last night. I was mucking around on Youtube watching a couple of very recent episodes of ‘8 out of 10 cats does countdown’ which I believe is one of the funniest shows on television. While there a couple of videos popped up in the list at the side of the video being played. They included Americans watching the video and listening to the Redgum song ‘I was only Nineteen’1 which is a song written by John Schumann2, and was based on the story of a relative of Schumann’s who served in Vietnam.

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MacroBusiness Wednesday, July 2, 2025 - 16:00 Source

A relatively calm session here in Asia with only slight movements in currency markets as the Australian dollar had a small blip after some disappointing retail sales numbers while share markets are absorbing the passing of the “End of the Empire” bill in the US senate. Oil markets continue to steady after their recent correction

The post Macro Afternoon appeared first on MacroBusiness.

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Cheeseburger Gothic Wednesday, July 2, 2025 - 15:32 Source

As exciting as a new book release might be, it’s not as exciting as hitting a new 1RM in my deadlift, which I just did.

160kgs.

Now, Imma have a big steak.

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Renew Economy Wednesday, July 2, 2025 - 14:55 Source
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Renew Economy Wednesday, July 2, 2025 - 14:27 Source
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MacroBusiness Wednesday, July 2, 2025 - 14:00 Source

In the past week, New Zealand’s financial markets have been primarily influenced by global events, with little guidance provided by local data. Markets continue to anticipate that the Reserve Bank of New Zealand will skip a cut at the next meeting on July 9 and then cut rates again in August. The RBNZ has already

The post Reserve bank says “no” to rate cut appeared first on MacroBusiness.

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Renew Economy Wednesday, July 2, 2025 - 13:40 Source
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MacroBusiness Wednesday, July 2, 2025 - 13:30 Source

Failing US ambassador Kevin Rudd yesterday met with failing foreign affairs minister Penny Wong. Here is the happy couple responsible for a sharp deterioration in the US alliance. A nastier pair of beearches you are unlikely to meet. The failed Rudd now requires the support of the foreign minister to get his job done. Penny

The post Sack Rudd now appeared first on MacroBusiness.

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Renew Economy Wednesday, July 2, 2025 - 13:22 Source

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Renew Economy Wednesday, July 2, 2025 - 13:14 Source
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Renew Economy Wednesday, July 2, 2025 - 13:07 Source
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MacroBusiness Wednesday, July 2, 2025 - 13:00 Source

When the word freedom comes to mind in our collective consciousness, it can be interpreted in a number of different ways. It can be an expression of one’s ability to share their ideas or views freely, or it can relate to one’s capability to go about one’s day unimpeded by a Draconian state. But there

The post Australian freedom is under attack appeared first on MacroBusiness.

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MacroBusiness Wednesday, July 2, 2025 - 12:43 Source

In the run up to the latest Australian retail sales data analysts were expecting a sizable +0.4% month on month bounce, after April saw nominal retail sales fall by 0.1% on a seasonally adjusted basis. In reality, retail sales rose by just 0.18% in May, marking yet another weak report for the nation’s retail economy.

The post The per capita retail recession returns appeared first on MacroBusiness.

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MacroBusiness Wednesday, July 2, 2025 - 12:30 Source

At the recent World Economic Forum’s (WEF) annual meeting at Tianjin, China, Chinese Premier Li Qiang pledged that China will become a “consumption powerhouse” capable of fuelling domestic and global growth. “This will make China a mega-sized consumption powerhouse, on top of being a manufacturing powerhouse,” Li said “We are on track to become a

The post Chinese success will smash the Aussie economy appeared first on MacroBusiness.

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Renew Economy Wednesday, July 2, 2025 - 11:46 Source
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Renew Economy Wednesday, July 2, 2025 - 11:43 Source
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MacroBusiness Wednesday, July 2, 2025 - 11:34 Source

Via the ABS today. Building approvals are still garbage. Total dwellings approved rose 3.2% to 15,212. Private sector houses rose 0.5% to 9,454 and private sector dwellings excluding houses rose 11.3%, to 5,571. The value of total residential building rose 3.6%, to $9.28b. The value of total non-residential building fell 22.4%, to $6.16b. At this

The post Albo’s building approvals embarrassment intensifies appeared first on MacroBusiness.

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Your Democracy Wednesday, July 2, 2025 - 11:06 Source

 

Medical sources told Al Jazeera on Monday that Israeli attacks killed at least 95 Palestinians in Gaza throughout the day as Israeli forces bombed a seaside cafe and gunned down more desperate people who were seeking aid.

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MacroBusiness Wednesday, July 2, 2025 - 11:00 Source

The Market Ear on a down day. Violent moves Under the hood pain is huge today. DeepSeek déjà vu anyone? UBS writes: “There has been a big momentum unwind with the UBS basket (UBPTMOMO) -5.7%, which is the biggest move since January with the long leg selling off (-3.8%) and short leg squeezing (+1.9%). There is

The post Stocks bear-up into EOFY appeared first on MacroBusiness.

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MacroBusiness Wednesday, July 2, 2025 - 10:30 Source

As Australia continues to shed its industrial base, the US is rebuilding. Morgan Stanley with the note. US Reshoring Momentum Is Outpacing Early Expectations Our US Industrials analysts note that May US manufacturing construction starts sustained the strength seen in April, and activity is tracking at ~2x the pre-Covid run rate. The average project size

The post Carrots work better than sticks for industry appeared first on MacroBusiness.

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MacroBusiness Wednesday, July 2, 2025 - 10:00 Source

As the gas cartel unleashes another energy shock… There is nothing it will not destroy in due course. We can no longer make plastics, nor glass, nor many forms of steel. Soon it will be any and every metal processing as well. AFR. The chief executive of Nyrstar Australia says the metal processor urgently needs

The post Gas cartel destroys metals processing, you appeared first on MacroBusiness.

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Renew Economy Wednesday, July 2, 2025 - 09:41 Source
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MacroBusiness Wednesday, July 2, 2025 - 09:30 Source

DXY eased lower. AUD higher. Lead boots too. Will gold have another crack? Metals paused. EM meh. Junk rejection. Short end sold on the passage of Trump Big Beautifil Bill. Stocks sold in EOFY. Deutsche says the hiccup in US capital flows is very large indeed. The US trade numbers have been very volatile in

The post Big Beautiful Australian Dollar appeared first on MacroBusiness.

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Your Democracy Wednesday, July 2, 2025 - 09:03 Source

US President Donald Trump has said that he might entertain the idea of deporting Elon Musk and could consider getting the Department of Government Efficiency (DOGE) to look into the billionaire’s government contracts.

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MacroBusiness Wednesday, July 2, 2025 - 09:00 Source

Wall Street took a step back after the US Senate passed the Billionaire Tax Bonus Bill while the Trump regime waved off concerns that not even a single nation has done a trade deal coming up to the July 9th deadline. Meanwhile Fed Chair Powell said they would have cut already if not for those

The post Macro Morning appeared first on MacroBusiness.

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Renew Economy Wednesday, July 2, 2025 - 08:39 Source
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Your Democracy Wednesday, July 2, 2025 - 04:07 Source

Russian President Vladimir Putin has spoken with his French counterpart Emmanuel Macron by telephone, the Kremlin press service said on Tuesday. It is the first phone contact between the leaders since September 2022. 

The conversation revolved around the situation in the Middle East, as well as the Ukraine conflict.

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Your Democracy Wednesday, July 2, 2025 - 03:24 Source

Germany’s new chancellor Friedrich Merz has plunged the country into a deep political and geopolitical crisis, driven by aggressive pro-war rhetoric and a failing foreign policy agenda centered on Ukraine.

 

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Your Democracy Wednesday, July 2, 2025 - 03:20 Source

One way to get a robust, comparative fix on how obscene American global preaching about human rights has become is (borrowing a vivid image from Caitlin Johnstone) to imagine what the world might think about a scorching lecture from a Taliban leader on the Western oppression of women and women’s rights.

 

Richard Cullen

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