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MacroBusiness Friday, September 16, 2022 - 18:17 Source

  AUD/USD Looks unwell to me…….   EUR/USD   GBP/USD   USD/JPY   West Texas Intermediate   Brent Crude   Gold   Doctor Copper ASX200      

The post Macro Afternoon: 16 September 2022 appeared first on MacroBusiness.

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The Australian Independent Media Network Friday, September 16, 2022 - 16:30 Source

Once the fixated adoration with the late Queen Elizabeth II starts cooling, the accountants of public welfare and decency will be stunned to realise the costs and wealth associated with the royal institution. Her successor, Charles III, is continuing in that vein, a jarring note of wealth and pomp even as prices rise and the…

The post Royal Money: Charles III and the Wealth Dimension appeared first on The AIM Network.

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John Quiggin Friday, September 16, 2022 - 16:19 Source

My latest newsletter

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The Australian Independent Media Network Friday, September 16, 2022 - 15:33 Source

By Denis Bright   Until The Guardian noted the failure of HQPlantations (HQP) and HVPlantations (HVP) to pay any company taxes to the Australian Government between 2013 and 2020, old controversies about the privatization of forestry plantations in two states had simply faded from the political radar. The Guardian list should invite further investigations of corporate…

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MacroBusiness Friday, September 16, 2022 - 15:00 Source

This month has been an absolute shocker for New Zealand’s housing market. Last week, QV released its house price index for August, with values nationally plunging 5.5% over the quarter. Then the REINZ House Price Index suffered its largest six month decline since records began in 1992. Now CoreLogic has released its interactive Mapping the

The post House prices plummet across New Zealand appeared first on MacroBusiness.

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Cheeseburger Gothic Friday, September 16, 2022 - 14:55 Source

I was a bit surprised to see I wasn't the only one who breaks up his work day with a bit of exercise, but it's nice to think that others get the same value from it as me.

The other hack I’ve taken to using the last couple of weeks is akin to a pre-Flight checklist. I realised a while ago that focus wasn't my problem. Starting was. Once I actually got to writing I was usually pretty good about sticking to it, probably because of all of the scaffolding I've built around my workflow to protect me from distraction and disruption over the last couple of decades.

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Renew Economy Friday, September 16, 2022 - 14:47 Source

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MacroBusiness Friday, September 16, 2022 - 14:30 Source

CoreLogic’s daily dwelling values index, which measures price changes across the five major capital cities, dived another 0.39% in the week ended 15 September – the 19th consecutive weekly decline: It was a sea of red ink, with every major Australian capital city recording falling dwelling values: So far in August, dwelling values have fallen

The post Aussie house prices drown in sea of red ink appeared first on MacroBusiness.

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Renew Economy Friday, September 16, 2022 - 14:14 Source

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MacroBusiness Friday, September 16, 2022 - 14:00 Source

An excellent note from Nordea with which I agree.  Rapid monetary policy tightening is set to continue as also the ECB has turned even more hawkish. Rates have more upside potential left, while the US economy should continue to outperform the Euro area, pushing EUR/USD further down. 75bp rate hikes seem to have become the new

The post The uninvestible Euro appeared first on MacroBusiness.

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Renew Economy Friday, September 16, 2022 - 13:34 Source

seatwirl vertical axis wind turbine

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MacroBusiness Friday, September 16, 2022 - 13:30 Source

Reserve Bank of Australia economists Neyavan Suthaharan and Joanna Bleakley have released a research paper hosing down claims that Australia nor the world could return to a 1970s-style wage-price inflationary spiral. They argue that central banks are now more focused on fighting inflation by increasing interest rates rather than reducing them, while workers have less

The post RBA smacks down wage-inflation scaremongering appeared first on MacroBusiness.

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Renew Economy Friday, September 16, 2022 - 13:28 Source

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MacroBusiness Friday, September 16, 2022 - 13:00 Source

Below is a 10 minute interview I gave last night on Money News with Luke Grant. The interview begins at 4.50 and discusses: Yesterday’s August labour force data from the ABS and why it won’t prevent the RBA from hiking interest rates. Why the inherent lags in monetary policy means the RBA is ‘flying blind’

The post LVO talks jobs, interest rates, rental market and immigration on Radio 2GB appeared first on MacroBusiness.

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MacroBusiness Friday, September 16, 2022 - 12:30 Source

The Market Ear with more nasty charts. BIG stress remains stressed Both bond and FX volatility indexes are down from “panic” highs, but remain at elevated levels. Equity stress has risen as we crashed earlier this week, but the gap between VIX and JPM FX vol index is very wide (chart 2). Refinitiv Refinitiv If

The post It’s a bear market II appeared first on MacroBusiness.

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Renew Economy Friday, September 16, 2022 - 12:30 Source

Chichester Solar Farm Alinta Fortescue

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MacroBusiness Friday, September 16, 2022 - 12:00 Source

Earlier this week, SQM Research released rental vacancy data for August, which showed that the nation’s vacancy rate fell to a record low of just 0.9%. The decline in vacancies is broad-based, with every capital city market experiencing extreme tightness: The next chart plots the sharp fall in rental vacancies since the SQM series began

The post Alarm bells as Australia “runs out of properties to rent” appeared first on MacroBusiness.

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MacroBusiness Friday, September 16, 2022 - 11:30 Source

Sinocism leads us off: Real Estate relaxations – If all cities but Beijing, Shanghai, Guangzhou and Shenzhen are allowed to relaxing housing purchase restrictions, as the excellent REDD reports, then that is quite the policy backtrack and a sign of how desperate the situation is becoming for developers and local governments that need land sales revenue.

The post China’s impossible trinity breaks appeared first on MacroBusiness.

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MacroBusiness Friday, September 16, 2022 - 11:00 Source

Reserve Bank of Australia (RBA) governor, Phil Lowe, has just given his opening Statement to the House of Representatives Standing Committee on Economics, in which he outlined the case for further interest rate hikes. Below are key extracts, with my emphasis added in bold: Global factors explain much of this increase in inflation. Russia’s invasion

The post Lunatic RBA says interest rates will keep rising appeared first on MacroBusiness.

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MacroBusiness Friday, September 16, 2022 - 10:30 Source

The ferrous complex was mixed on September 15, 2022: The latest CISA output data gives us some explanation for recent ferrous market stability: Here’s the chart: But note that output at such levels has inventories rising very strongly again. This is unsustainable. Not least because the latest property sales data has starts falling by another

The post Daily iron ore price update (rebound!) appeared first on MacroBusiness.

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The Australian Independent Media Network Friday, September 16, 2022 - 10:23 Source

There is set to be some anxiety in monarchist groups in the community as they reconcile the ascent of King Charles III to the throne with their fear. Even in educated hard right circles like The Spectator Australia’s readership, conspiracy theories about him are evident. In the “Flat White” online part of The Spectator Australia…

The post The Right Wing disinfosphere and the King appeared first on The AIM Network.

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Renew Economy Friday, September 16, 2022 - 10:11 Source

UK anti-fracking wikimedia commons

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MacroBusiness Friday, September 16, 2022 - 10:00 Source

New analysis from The Australia Institute (TAI) highlights the absurd cost of the Stage 3 tax cuts, which will provide high income earners billions of dollars worth of tax relief: In their first year, the Stage 3 tax cuts will cost the budget a total of $17.7 billion. That is: $5.6bn more than is spent

The post The absurd cost of the Stage 3 cuts appeared first on MacroBusiness.

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xkcd.com Friday, September 16, 2022 - 10:00 Source

Serve one each to guests whose last cursed cocktail was more than 2 months ago.

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MacroBusiness Friday, September 16, 2022 - 09:30 Source

DXY is still strong versus uninvestable EUR: AUD is suddenly very weak: Oil is slowly breaking: Metals will follow: Miners were soft: EM stocks are at the cliff again: Junk is not quite so bad: As the US curve drops ever deeper into a blood red inversion that is screaming recession: The village idiot got

The post Australian dollar drops with yuan stone appeared first on MacroBusiness.

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Renew Economy Friday, September 16, 2022 - 09:05 Source

How can we balance community concerns and wishes with cost?

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MacroBusiness Friday, September 16, 2022 - 09:00 Source

Yesterday the gas price was as high as $34Gj in Victoria. The east coast average price was $23Gj. The former is a warning of where we are headed without policy intervention. The latest electricity price is enough to double utility bills over the next year, to add 3.5% to the CPI over one year, and

The post Evil gas cartel threatens new price explosion appeared first on MacroBusiness.

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Your Democracy Friday, September 16, 2022 - 07:26 Source

The sports sanctions imposed on Russian athletes have threatened the basic principles of the Olympic movement but the West will eventually realize the “injustice” of the situation, according to Russian Olympic Committee (ROC) president Stanislav Pozdnyakov.

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Your Democracy Friday, September 16, 2022 - 07:23 Source

The fact that nearly every US citizen will know at least one victim of gun violence in their lifetime and more than 1 million US citizens have been shot in the past decade presents a horrifying picture about how firearms in private hands pose a threat to people's safety in the United States.

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Your Democracy Friday, September 16, 2022 - 07:14 Source

Tony Blair rubbed Queen up wrong way: ‘She didn’t like him’ – insider claims

THE QUEEN "didn't like" Sir Tony Blair for steering her away from her "stiff upper lip" approach, an unearthed account claims.

 

By CHARLIE SMITH

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