Blogotariat

Ukrainian President Vladimir Zelensky said on Tuesday that the fighting in Donbass was “hell,” claiming that Kiev’s military remained heavily outgunned and even outnumbered by Russia and appealing to the US and its allies for even more weapons such as the HIMARS rocket launchers.

After lobbying the NSW and Victorian governments for assistance in June, one of Australia’s largest home builders – Metricon – continues to teeter on the brink of collapse. Yesterday, it unceremoniously sacked 225 employees over Microsoft Teams in a desperate bid to reduce costs: The move will impact 9 per cent of its workforce… Most

The post Home builders tumble like dominos as cost crisis escalates appeared first on MacroBusiness.

The ABS today released cost of living indices for the June quarter, which shows that aged pensioners experienced the sharpest increase in their cost of living in 2021-22 (+5.2%); although it was below Australia’s headline inflation rate (+6.1%): As explained by the ABS: Transport was the main contributor for all five household types, with the

The post Aussie pensioners winning from high inflation appeared first on MacroBusiness.

Albert Edwards at Societ General with the note. The back-to-back decline in US 1Q and 2Q GDP has provoked a robust discussion about whether this means the economy is in recession or not. Much of this debate is political and semantic. One of the key arguments to reject the recession call is that jobs growth

The post Albert Edwards: Profits collapse coming appeared first on MacroBusiness.

Pentagon Wiped Jan. 6 Texts From Phones Belonging to Top Military Generals, Court Docs Reveal

News that texts between high-level generals can’t be located come as Democrats seek to portray the post-office deletion of messages from a number of influential Trump administration officials’ phones as a conspiracy headed up by the former president–but the DoJ says it’s standard practice.

The Reserve Bank of Australia’s (RBA) index of commodity prices dived 8.5% in June in SDR (currency-weighted) terms, which follows June’s 2.8% drop: Over the July quarter commodity prices fell 13.8% over the quarter but were 14.1% higher year-on-year in SDR terms. As explained by the RBA: The rural, non-rural and base metals sub-indices all

The post RBA commodity price index plunges appeared first on MacroBusiness.

Zoltan Poszar of Credit Suisse with his latest biggest picture narrative. For some reason, I find this argument for a higher inflation regime more persuasive than his Bretton Woods III thesis. It is the magnitude of the story he tells and its non-linearity is also crucial. We could be sailing along into a resumption or

The post War and interest rates appeared first on MacroBusiness.

New $500 million scoping plans for the Powerhouse at Ultimo have been condemned as an attempt to transform the museum into an entertainment centre by the overwhelming majority of public submissions.

Only six of 104 public submissions backed the concept plans for the 2.4-hectare site that potentially allow for a new public square, entrance, and a multistorey annex on the museum’s Harris Street forecourt.

Speaking at a festival recently, Prime Minister Anthony Albanese proposed a referendum to create an Aboriginal and Torres Strait Islander Voice. Specifically, the proposal is that the following three sentences be added to the Australian Consitution Act of 1901 1. There shall be a body, to be called the Aboriginal and Torres Strait Islander Voice.…

The post The Voice to Parliament: Why the ‘Detail’ Argument is Bunk appeared first on The AIM Network.