Renew Economy
Wednesday, May 17, 2023 - 00:01
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MacroBusiness
Wednesday, May 17, 2023 - 00:01
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Global macro / Markets / Investing: The War on Poverty Is Over. Rich People Won. – The Atlantic Pot Acceptance Is Climbing Even as Illicit Market Has Grown – Bloomberg Why the return to the office won’t save the office – VOX RIP Metaverse. An obituary for the latest fad to join the tech graveyard The post Links 17 May 2023 appeared first on MacroBusiness. |
MacroBusiness
Tuesday, May 16, 2023 - 16:30
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A cautious session from Asian stocks today despite a positive start to the new trading week for Wall Street overnight on the back of a week of negative results. Only Japanese bourses advanced, clawing back the 1990 highs. Meanwhile currency markets are still being dominated by a strength in USD with the Australian dollar sharply The post Macro Afternoon appeared first on MacroBusiness. |
John Quiggin
Tuesday, May 16, 2023 - 16:10
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MacroBusiness
Tuesday, May 16, 2023 - 15:50
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Tonight, I will be appearing on DFA Live with Martin North where we will discuss Australian housing and the population ponzi, alongside other topics. The show goes live at 8pm AEST. We hope to see you there. The post Join me tonight on DFA for live Q&A appeared first on MacroBusiness. |
Renew Economy
Tuesday, May 16, 2023 - 15:30
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The Australian Independent Media Network
Tuesday, May 16, 2023 - 15:30
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When ProPublica’s investigation into links between Republican donor Harlan Crow and the US Supreme Court surfaced, there was a sense that dark waters lurked beneath the revelations. While Justice Clarence Thomas featured prominently as the recipient of largesse and pomp from Crow – island hopping in Indonesia, private jet travel, among other treats – things… The post The US Supreme Court Corruption Bonanza appeared first on The AIM Network. |
Renew Economy
Tuesday, May 16, 2023 - 15:20
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MacroBusiness
Tuesday, May 16, 2023 - 14:30
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National Australia Bank’s chief economist, Alan Oster, says the near-term balance of risks with regard to inflation remains on the upside. Oster notes that the Reserve Bank of Australia (RBA) does not expect inflation to return to the top end of its target range of 2-3% until mid-2025. The trimmed mean – the RBA’s preferred The post Mortgage holders brace for further interest rate pain appeared first on MacroBusiness. |
MacroBusiness
Tuesday, May 16, 2023 - 14:00
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By Ross Elliott, cross-posted from The Pulse: One of the (many) furphies that gets aired (frequently) in discussions around housing affordability is that we can build ourselves out of the problem by building a lot more high-density housing units rather than typical detached suburban houses. In fact, the opposite is likely to happen should we The post Building lots more apartments won’t improve affordability appeared first on MacroBusiness. |
Cheeseburger Gothic
Tuesday, May 16, 2023 - 13:36
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I’m sitting in Canberra Airport, day-drinking because my flight is delayed. Of course. I’m fine with it, though. I figure you just factor this stuff in nowadays. |
MacroBusiness
Tuesday, May 16, 2023 - 13:30
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Home Affairs Minister Clare O’Neil is yet to publicly release the final report of an investigation she commissioned former Victoria Police chief commissioner Christine Nixon to undertake into Australia’s migration system, despite promising to release it before the federal budget. O’Neil commissioned the report in the wake of a media investigation into human trafficking and |
Renew Economy
Tuesday, May 16, 2023 - 13:19
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Renew Economy
Tuesday, May 16, 2023 - 13:16
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MacroBusiness
Tuesday, May 16, 2023 - 13:00
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Westpac’s latest consumer sentiment report suggests that Australians have turned bullish on the housing market. Despite ongoing interest rate rises from the Reserve Bank of Australia (RBA), house price expectations have soared, suggesting stronger price growth (chart from IFM Investors chief economist Alex Joiner): Joiner reasons that “population growth and potentially flows from the rental |
Renew Economy
Tuesday, May 16, 2023 - 12:41
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MacroBusiness
Tuesday, May 16, 2023 - 12:40
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I will offer up a comprehensive take on the freshly released Chinese data for April tomorrow. But, for now, get a load of the disaster unfolding in property construction. April was the weakest month of starts in fifteen years, the middle of the GFC: This has established a 2023 trend for starts by floor area The post China’s unstoppable property contruction crash appeared first on MacroBusiness. |
MacroBusiness
Tuesday, May 16, 2023 - 12:30
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This is an interesting debate. I am very much in the camp that we are at Peak China economically and in soft power terms. But in terms of hard power, I do not think so. That is, as China weakens I expect it to become increasingly bellicose to distract its always restive population. This makes The post Welcome to “Peak China” appeared first on MacroBusiness. |
Renew Economy
Tuesday, May 16, 2023 - 12:01
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MacroBusiness
Tuesday, May 16, 2023 - 12:00
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The latest forward-looking indicators for Australia’s housing construction industry were bleak. Private new home sales have roughly halved from their December 2021 peak: Housing Industry Association (HIA) Chief Economist, Tim Reardon, noted a major increase in the number of projects being cancelled. “The cancelation rate remains elevated with more than one new home project cancelled |
MacroBusiness
Tuesday, May 16, 2023 - 11:58
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The RBA minutes are out and although it never spells things out, it is easy enough to read between the lines: …members noted that inflation had eased in the March quarter, confirming the staff assessment that inflation had passed its peak. Despite this, inflation in Australia remained too high and broadly based… Inflation had eased The post RBA: Immigration, gas cartel forcing up interest rates appeared first on MacroBusiness. |
MacroBusiness
Tuesday, May 16, 2023 - 11:30
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A swath of new polls this week from Essential, Newspoll, and Resolve are all saying the same thing. The budget has not much either way but Albanese Government’s honeymoon continues. Bludgertrack: I wonder how long it will take for the LNP to can Doomed Dutton? There are ample opportunities for the opposition to make headway as The post Doomed Dutton sinks from polling sight appeared first on MacroBusiness. |
MacroBusiness
Tuesday, May 16, 2023 - 11:01
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Westpac with the note. The Westpac Melbourne Institute Consumer Sentiment Index fell by 7.9%, from 85.8 in April to 79.0 in May. The Index has fallen back to just above the dismal levels seen back in March, which recorded the lowest monthly read since the COVID outbreak in 2020 and, before that, since the deep The post Consumer sentiment re-crashes appeared first on MacroBusiness. |
MacroBusiness
Tuesday, May 16, 2023 - 11:00
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Reasoning with the gas cartel is like arguing with a Great White Shark. It knows only one way and is dedicated to only one thing. Eating you alive. More propaganda from the AFR today: Federal Resources Minister Madeleine King has emphatically backed carbon capture and storage as the best way for the resources industry to The post Gas cartel demands subsidy to eat Australia appeared first on MacroBusiness. |
MacroBusiness
Tuesday, May 16, 2023 - 11:00
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Reasoning with the gas cartel is like arguing with a Great White Shark. It knows only one way and is dedicated to only one thing. Eating you alive. More propaganda from the AFR today: Federal Resources Minister Madeleine King has emphatically backed carbon capture and storage as the best way for the resources industry to The post Gas cartel blows up Australian energy transition appeared first on MacroBusiness. |
MacroBusiness
Tuesday, May 16, 2023 - 10:40
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The excellent Michael Wilson at Morgan Stanley kicks us off. Having spent the last few weeks on the road engaging with clients from around the world, we figured it would be useful to share some thoughts from our meetings and to touch on the most often asked questions, concerns and pushback to our views. First, The post Stay bearish on stocks appeared first on MacroBusiness. |
MacroBusiness
Tuesday, May 16, 2023 - 10:20
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Independent economist Tarric Brooker posted an interesting thread on Twitter arguing that the Baby Boomer generation now holds the keys to Australian consumption growth and ergo the economy. Brooker argues “the reason the financial interests of Boomers hold so much sway in Australia isn’t solely because of their status as a large voting bloc, it’s The post Baby Boomers hold keys to Australia’s economy appeared first on MacroBusiness. |
MacroBusiness
Tuesday, May 16, 2023 - 10:00
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The recent DXY pop took a breather last night: AUD repaired some damage: Commodities are not well: Miners offered pennies in front of the steamroller: EM stocks are slowly drowning: As junk warns: Yields are stuck: And stocks: Barclays neatly observed what’s happened: A slew of data from around the world appears to be signaling The post Australian dollar plunges with global economy appeared first on MacroBusiness. |
MacroBusiness
Tuesday, May 16, 2023 - 09:30
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Iron ore futures popped yesterday on the thinnest of reasons. As previously noted, steel mills are short of raw material inventory so we could see short-term restocking on newsflow. Goldman has more on the outbreak of happiness: In its Q1 monetary policy report, the PBOC reiterated its accommodative stance by stating that monetary policy would The post Sell the iron ore rips appeared first on MacroBusiness. |
Your Democracy
Tuesday, May 16, 2023 - 09:19
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HAVE WE SEEN A SIMILAR PICTURE BEFORE, SYDNEY? IS THE WESTERN MEDIA ABOUT TWENTY PACES BEHIND THE REAL NEWS, BY TRYING TO PAINT ANYTHING THEY DON'T LIKE WITH A TAR BRUSH? AS THE SPEED OF INFORMATION OVERTAKES OUR BRAINS, THE SIMPLE TENET IS THAT THE WEST IS TELLING US WHAT THEY WANT TO TELL YOU — AND THOSE NEWS ARE ALREADY OBSOLETE, NOT WHAT'S REALLY HAPPENING... |