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MacroBusiness Friday, September 8, 2023 - 13:30 Source

CoreLogic has released final auction figures for last weekend with the nation’s clearance rate falling 1.4% to 65.4%, with Sydney (-0.9%) and Melbourne (-0.9%) both registering softer clearances: The decline in clearance rates follows the highest weekly number of auctions (2,286) since early April, suggesting the spring selling season is starting with a bang. There

The post Property listings surge into spring appeared first on MacroBusiness.

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MacroBusiness Friday, September 8, 2023 - 13:00 Source

The Australian Association of Convenience Stores has reported that tobacco sales were down 19.8% in the June quarter, following a 13.7% decline in the March quarter. AACS CEO Theo Foukkare claims that legitimate tobacco retailers are suffering because of government failure to crack down on the trade of black market vaping and tobacco products, claiming

The post Tobacco taxes birth organised crime wave appeared first on MacroBusiness.

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Renew Economy Friday, September 8, 2023 - 12:45 Source

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MacroBusiness Friday, September 8, 2023 - 12:30 Source

The number of people working multiple jobs and the percentage of employed people having more than one job reached record highs in the June quarter of 2023, according to new data released by the Australian Bureau of Statistics (ABS): At the end of June 2023, there were 958,600 multiple job-holders (6.7% of employed people). Young

The post Desperate Aussies work multiple jobs amid cost of living squeeze appeared first on MacroBusiness.

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The Australian Independent Media Network Friday, September 8, 2023 - 12:23 Source

I have been asked to provide some further details regarding the referendum, particularly as it appears a lot of misinformation and disinformation is being fed to people by various forms of media. Why the Voice In his evidence submitted to the Joint Select Committee on the Aboriginal and Torres Strait Islander Voice Referendum (‘Joint Committee’)…

The post The Voice: Ignore the misinformation and disinformation appeared first on The AIM Network.

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Your Democracy Friday, September 8, 2023 - 12:15 Source

Trump’s Crowded Legal Calendar Leaves Judges to Juggle Court DatesSince it's not reasonable to expect any defendant – let alone a former president – to juggle court appearances in five different locations, who gets to go first?

By Susan Milligan

 

Republican presidential candidate Donald Trump is running for his life. But the myriad indictments against him might out-pace him as he seeks to become president again.

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MacroBusiness Friday, September 8, 2023 - 12:00 Source

There’s been a decent bear steepening in the Aussie bond curve last month. This has priced out the likelihood of an outright Aussie recession as the inverted 2-10 curve has normalised. That said, the inverted 1-5 curve is a great indicator of per capita recession, and it is still telling us more to come: The

The post Bond market gives up on Aussie recession, not US appeared first on MacroBusiness.

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MacroBusiness Friday, September 8, 2023 - 11:40 Source

Former RBA researcher turned chief economist at the Centre for Independent Studies (CIS) tweeted the below on Thursday suggesting those wanting the government to run a lower (historical) immigration program to ease housing pressures are “misanthropes” that dislike migrants: Tulip was comprehensively demolished by more than 50 comments accusing Peter Tulip of resorting to a

The post Peter Tulip beats immigration straw man appeared first on MacroBusiness.

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Your Democracy Friday, September 8, 2023 - 11:31 Source

https://www.youtube.com/watch?v=KMf0OjTmFGQ

FOX News host Jesse Watters says President Biden is in the weakest position he has ever been in on 'Jesse Watters Primetime.'

 

"Jesse Watters: CNN wants Trump for president"

 

SEE ALSO:

https://www.youtube.com/watch?v=-hMXbscF5tU

 

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MacroBusiness Friday, September 8, 2023 - 11:20 Source

The May federal budget projected that Australia’s net overseas migration (NOM) would grow by a record 400,000 in 2022-23, followed by 315,000 NOM in 2023-24: In turn, Australia’s population was projected in the budget to grow by 524,000 in 2022-23 followed by 455,000 growth in 2023-24: Immigration influencer, Abul Rizvi, regularly derides others for lacking

The post Abul Rizvi stakes reputation on population numbers appeared first on MacroBusiness.

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Your Democracy Friday, September 8, 2023 - 11:06 Source

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MacroBusiness Friday, September 8, 2023 - 11:00 Source

The median dwelling price in Sydney has risen to 13.3 times the median income, while 35.3% of renters are estimated to be in housing stress. Accordingly, CEO of the developer lobby the Committee for Sydney, Eamon Waterford, says the level of housing stress requires a major rethink from politicians and the public. The Committee’s research

The post YIMBY housing solution lacks evidence appeared first on MacroBusiness.

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MacroBusiness Friday, September 8, 2023 - 10:40 Source

The Market Ear on Apple. Apple – haven’t seen this in a while The Apple China bear story continues today again. The stock is down almost 3% in pre market. That means Apple has gone from trading “well” above the 50 day moving average, to trading below the 100 day in 2 sessions. We haven’t

The post China eats Apple appeared first on MacroBusiness.

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MacroBusiness Friday, September 8, 2023 - 10:20 Source

Cronyism, or the Game of Mates as we call it Downunder, is an endemic risk in the Australian political economy. Owing to the culture of mateship and populism, and one of the world’s least complex economies, Australia is more at risk than most to corruption and special favours economics. Cronyism was rife through much of

The post Qantas crashes into Albo’s Cronystralia appeared first on MacroBusiness.

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Renew Economy Friday, September 8, 2023 - 10:11 Source

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MacroBusiness Friday, September 8, 2023 - 10:00 Source

I explained on Thursday how Australian households have been financially “wrecked” by soaring interest rates, soaring rents, and plummeting real wages. Real per capita household disposable income fell by 0.2% over the year to June 2023, which drove a 0.3% decrease in real per capita GDP over the same period: This reduction in spending occurred

The post Aussie households suffer record income collapse appeared first on MacroBusiness.

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xkcd.com Friday, September 8, 2023 - 10:00 Source

It can be expensive to hire a professional spectroscopist for your wedding, but the quality of the spectra you get is worth it.

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MacroBusiness Friday, September 8, 2023 - 09:40 Source

No change to the stimulus outlook in China. Goldman: Easing measures are gradually coming through. Given persistent growth headwinds and dampened sentiment on negative headlines of private developers / trust companies, the PBOC surprised the market with a policy rate cut in mid-August. Policymakers also released a slew of easing measures over the last two

The post Iron ore gives way appeared first on MacroBusiness.

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MacroBusiness Friday, September 8, 2023 - 09:20 Source

DXY is rampant: AUD is clinging to its recent lows, but it cannot hold if DXY continues: China has thrown the kitchen sink at CNY support. It is failing: DXY has capped oil at least: Dirt fell: Miners were clobbered: Welcome back to the Third World: Junk did OK: As yields eased: Stocks fell: Goldman

The post Australian dollar crushed between superpowers appeared first on MacroBusiness.

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MacroBusiness Friday, September 8, 2023 - 09:00 Source

Why on earth would we do this? Anthony Albanese will be the first prime minister to visit China in seven years after formally accepting an invitation to travel to ­Beijing this year, as the arrival of a high-level delegation boosted ­expectations the ruling Communist Party will soon lift sanctions on Australian wine. Meeting delegates in

The post National humiliation complete as Albo crawls to Beijing appeared first on MacroBusiness.

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Renew Economy Friday, September 8, 2023 - 08:59 Source

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John Quiggin Friday, September 8, 2023 - 08:34 Source

My latest in Inside Story

Fears about the impact of increasing longevity haven’t aged well

John Quiggin 4 September 2023 1690 words

Wrong assumption: treasurer Jim Chalmers launching this year’s Intergenerational Report at the National Press Club of Australia last month. Lukas Coch/AAP Image

Share

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The Australian Independent Media Network Friday, September 8, 2023 - 06:00 Source

Continued from The Times they are Changing. Yes, we are on the verge of another era of Enlightenment. From a world where we made enormous technological advances into one that will make the previous one seem dull. And we must fully understand what has occurred in the past and decide what to take into the…

The post In this rush to another Age of Enlightenment, we need to take the best from the past appeared first on The AIM Network.

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The Tally Room Friday, September 8, 2023 - 06:00 Source

Ben is joined by Paul Kildea and Andre Brett to discuss the history of Australian referendums. We discuss the historical origins of referendums at both the state and federal level, the dynamics of referendum campaigns, how different states tend to vote, the voters’ bias towards the status quo, and discuss some of our favourite referendums.

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Your Democracy Friday, September 8, 2023 - 05:53 Source

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Your Democracy Friday, September 8, 2023 - 05:20 Source

Ukraine is closer than ever to joining NATO, Secretary General Jens Stoltenberg has claimed, adding that Russia “cannot veto” Kiev’s future membership.

The NATO chief made the comments on Thursday at the European Parliament, where he briefed MEPs on cooperation between the US-led military bloc and the EU. Stoltenberg insisted that the two sides “share the same values [and] the same challenges.”

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Your Democracy Friday, September 8, 2023 - 05:16 Source

When a title in the Washington Post is so revealing, you can understand that the handwriting is on the wall, and that really is SO revealing, and if it is not an “I hate to tell you so, but I told you so” moment, then how else can we interpret the headline “Ukraine’s inability to demonstrate decisive success on the battlefield is stoking fears that the conflict is becoming a stalemate and international support could erode?”

 

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MacroBusiness Friday, September 8, 2023 - 00:05 Source

CoreLogic’s daily dwelling values index, which measures price changes across the five major capital city markets, rose another 0.22% in the week ended 7 September. That was the 27th consecutive weekly increase in dwelling values: This week’s rise was broad-based, with four of the major capitals recording rises of 0.2% or more: Over the latest

The post Australia’s “baffling” house price recovery appeared first on MacroBusiness.

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Renew Economy Thursday, September 7, 2023 - 21:27 Source

New fund led by former heads of ARENA and AEMO targets solar, wind and storage assets in Australia, and is backed by one

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John Quiggin Thursday, September 7, 2023 - 17:20 Source

The Courier-Mail (no link) is running a #Brisbane airport propaganda line that a curfew would disrupt flights for a million people a year (8 flights per night*pax/flight*365). Using the same basis of calculation, and assuming 500k people under the flight path, they are disturbing about 100 million people a year. #auspol #greens #auspol

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