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MacroBusiness Thursday, March 28, 2024 - 08:34 Source

The iron ore crash continues unabated, chasing rebar futures lower: The scuttlebutt is terrible: “A weak steel price and thin steel margins, coupled with high ore shipments, have suppressed ore demand and prices,” Cheng Peng, a Beijing-based analyst at Sinosteel Futures, said. Average daily hot metal output in April is expected at between 2.25 million

The post Iron crash reaches the coconuts phase appeared first on MacroBusiness.

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MacroBusiness Thursday, March 28, 2024 - 08:30 Source

Seek’s employment data has deteriorated badly over the past year, with job ads falling back to pre-pandemic levels and the number of applicants per job ad soaring around 50% above pre-pandemic levels, reflecting the combination of stalling demand and the record growth in labour supply (courtesy of record immigration). Reflecting the growing labour market slack,

The post Australian wage growth commences long march down appeared first on MacroBusiness.

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MacroBusiness Thursday, March 28, 2024 - 08:00 Source

Westpac with the note. Government rebates continue to hold down inflation while personal services inflation did pick up. The Monthly CPI Indicator gained 3.4% in the year to February compared to 3.4%yr in both January and December. The February print was a softer than Westpac’s forecast of 3.8% and the market median forecast of 3.5%yr.

The post Treasurer Chalmers defrauds taxpayers to lower inflation appeared first on MacroBusiness.

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MacroBusiness Thursday, March 28, 2024 - 00:15 Source

A joint budget submission by the McKell Institute and the Society of St Vincent de Paul has called for at least a $1 billion annual budget injection into affordable housing. Otherwise, Sydney risks losing a generation of young people to dysfunction and crime. The submission warns that the demand for social housing would quadruple in

The post Sydney’s housing crisis is a population crisis appeared first on MacroBusiness.

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MacroBusiness Thursday, March 28, 2024 - 00:10 Source

The ALP sure has learned how to be the LNP: The Albanese government has failed in its bid to rush emergency removal powers for non-citizens through the parliament, with the Senate rejecting their urgency and referring the laws to a parliamentary inquiry for scrutiny. The inquiry won’t report until May 7, meaning the earliest Labor could pass

The post Free the boats. Stop the planes appeared first on MacroBusiness.

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Renew Economy Thursday, March 28, 2024 - 00:10 Source
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MacroBusiness Thursday, March 28, 2024 - 00:05 Source

HSBC with the note. ◆We believe the market is underestimating the productivity boost AI could deliver to a wide range of sectors ◆Bluesky: rapid AI adoption could drive EPS CAGR of 7.5% over the next decade and justify S&P 500 fair value of c5,900 ◆Overweight US and EM, underweight Europe, UK,and Japan. Upgrade health care

The post The future belongs to America appeared first on MacroBusiness.

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Renew Economy Wednesday, March 27, 2024 - 23:30 Source
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Renew Economy Wednesday, March 27, 2024 - 21:35 Source
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Renew Economy Wednesday, March 27, 2024 - 21:25 Source
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Renew Economy Wednesday, March 27, 2024 - 20:19 Source
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George Monbiot Wednesday, March 27, 2024 - 19:51 Source

Outside the European Union, the UK is becoming a dumping ground for toxic substances.

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

It’s a benefit of Brexit – but only if you’re a manufacturer or distributor of toxic chemicals. For the rest of us, it’s another load we have to carry on behalf of the shysters and corner-cutters who lobbied for the UK to leave the EU.

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MacroBusiness Wednesday, March 27, 2024 - 17:30 Source

Asian share markets are still in mixed conditions without any large economic catalysts besides the usual macro concerns to push risk sentiment around. Last night’s mixed lead from Wall Street isn’t helping as the USD and bond yields continue their see-saw inversion. The still relatively high USD continues to weigh on the Australian dollar which

The post Macro Afternoon appeared first on MacroBusiness.

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George Monbiot Wednesday, March 27, 2024 - 16:55 Source

The appalling mistreatment of ME/CFS patients continues, based on the myth that it’s all in the mind.

By George Monbiot, published in the Guardian 12th March 2024

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The Australian Independent Media Network Wednesday, March 27, 2024 - 15:33 Source

What is it about British justice that has a certain rankness to it, notably when it comes to dealing with political charges? The record is not good, and the ongoing sadistic carnival that is the prosecution (and persecution) of Julian Assange continues to provide meat for the table. Those supporting the WikiLeaks publisher, who faces…

The post Purgatorial Torments: Assange and the UK High Court appeared first on The AIM Network.

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Renew Economy Wednesday, March 27, 2024 - 15:15 Source
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Renew Economy Wednesday, March 27, 2024 - 14:53 Source
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Renew Economy Wednesday, March 27, 2024 - 14:52 Source
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MacroBusiness Wednesday, March 27, 2024 - 13:30 Source

The annual horse-trading over the minimum wage has commenced. The Australian Chamber of Commerce & Industry (ACCI) wants the Fair Work Commission (FWC) to limit the annual minimum wage rise to no more than 2%. The employers’ group contends that inflation is expected to fall to 3%, productivity is declining and the FWC has overcompensated

The post Chamber of Commerce lowballs on minimum wage appeared first on MacroBusiness.

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Renew Economy Wednesday, March 27, 2024 - 13:09 Source
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Your Democracy Wednesday, March 27, 2024 - 13:00 Source

BREAKING: CBDC Launch Date REVEALED, Prepare!

https://www.youtube.com/watch?v=svQCpShdDZo

 

FREE JULIAN ASSANGE NOW...... astounding......

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MacroBusiness Wednesday, March 27, 2024 - 13:00 Source

The once marvellous Melbourne is today a hellscape of construction, congestion, delay and rage: The populations of Sydney and Melbourne swelled by a record 310,000 in a single year as migrants surged back into inner city areas and student accommodation while many financially pressed Australians moved to outer suburbs. Don’t get me wrong, Hellbourne still

The post Hellbourne clams mantle as most crush loaded city appeared first on MacroBusiness.

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Your Democracy Wednesday, March 27, 2024 - 12:54 Source
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Renew Economy Wednesday, March 27, 2024 - 12:47 Source
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Renew Economy Wednesday, March 27, 2024 - 12:43 Source
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MacroBusiness Wednesday, March 27, 2024 - 12:30 Source

Analysis by the Centre for Independent Studies (CIS) shows people earning more than $224,000 a year were “under-compensated for bracket creep” under both the Coalition’s original stage 3 tax cuts and Labor’s revised version. The CIS findings are at odds with claims that both sets of tax cuts favoured high-income earners. Matthew Taylor from the

The post Bracket creep chews through Stage 3 tax cuts appeared first on MacroBusiness.

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MacroBusiness Wednesday, March 27, 2024 - 12:00 Source

Data released last year by the Reserve Bank of Australia showed that poorer Australians dominate the nation’s rental tenancies: “Nearly 90% of all households in the lowest wealth quintile were renters in 2019/20”, according to the RBA. As we all know, Australian renters have experienced hyper-inflation in housing costs, with median asking rents soaring 38%

The post Australian renters are stressed and depressed appeared first on MacroBusiness.

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MacroBusiness Wednesday, March 27, 2024 - 12:00 Source

MacroBusiness has frequently criticised the politicisation and lack of independence in Australia’s public service. I observed this problem myself in the early to mid-2000s while working at the Australian and the Victorian Treasuries, when governments of both parties were overly eager to outsource policy-making to consultants. In 2003, while working on the Australia-US Free Trade

The post Victoria is a failed state appeared first on MacroBusiness.

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MacroBusiness Wednesday, March 27, 2024 - 11:30 Source

ABS with the report. The monthly CPI indicator rose 3.4% in the 12 months to February. The most significant price rises were Housing (+4.6%), Food and non-alcoholic beverages (+3.6%), Alcohol and tobacco (+6.1%) and Insurance and financial services (+8.4%).’ The consensus was 3.5% so a bit soft.  Services and food coming off. Goods firmed a

The post Aussie monthly inflation soft appeared first on MacroBusiness.

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MacroBusiness Wednesday, March 27, 2024 - 11:30 Source

ABS with the report. The monthly CPI indicator rose 3.4% in the 12 months to February. The most significant price rises were Housing (+4.6%), Food and non-alcoholic beverages (+3.6%), Alcohol and tobacco (+6.1%) and Insurance and financial services (+8.4%). The consensus was 3.5%, so this is

The post Aussie monthly inflation appeared first on MacroBusiness.

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