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MacroBusiness Wednesday, May 7, 2025 - 11:30 Source

The Market Ear on a possibe bear market. Very extended The 10-day advance/decline line has gotten very extended. Bespoke: “We would not be surprised to see some downside mean reversion soon”. Source: Bespoke Death cross still in place SPX is hitting some sort of short term trend line here. We moved above the 50 day, but are

The post The bull meets the bear appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 7, 2025 - 11:00 Source

I noted on Monday how “Australian households cannot escape recession”, citing the Q4 2024 ABS national accounts figures showing that real per capita household consumption had fallen for eight consecutive quarters. The decline in consumption follows a record 8% fall in real per capita household incomes. The Q1 2025 retail sales figures also fell in

The post Recession-hit Aussies close their wallets appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 7, 2025 - 10:30 Source

The taxpayer-funded ABC has become one of Australia’s leading propagandists for Big Australia immigration and a high-density future. Check out the garbage below from the ABC imploring Australians to accept high-rise shoebox living as their future, as the federal government crush-loads our major cities with endless mass migration. “All over Australia we are being told

The post Dishonest ABC gaslights on housing solutions appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 7, 2025 - 10:00 Source

The last thing the world needs is another war. We already have the conflict in Ukraine and the Israel-Hamas war. Now India and Pakistan are on the verge of war. It all began when Pakistani terrorists killed 26 people, mostly tourists, in Kashmir last month, which India blamed on Pakistan. A series of skirmishes ensued

The post India and Pakistan on verge of war appeared first on MacroBusiness.

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xkcd.com Wednesday, May 7, 2025 - 10:00 Source

Frankly, given their extreme gravitational fields and general instability, even 12-inch globes should probably be banned.

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MacroBusiness Wednesday, May 7, 2025 - 09:30 Source

DXY is struggling mightily still. AUD to the moon! Lead boots grow wings. Oil buy the fact. Metals growth no bueno. Mining dogs. EM meh. Junk hmmm… A little yield relief. Stocks flamed out. Gold has returned to its undollar best. AUD is gold in slow motion. Although gold is only about 7% of the

The post Australian dollar launches golden rocket appeared first on MacroBusiness.

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Your Democracy Wednesday, May 7, 2025 - 09:13 Source

Friedrich Merz has been elected as German chancellor following a second Bundestag vote on Tuesday. The leader of the Christian Democratic Union (CDU) had initially fallen six votes short of the required 316-vote threshold earlier in the day, but hours later rallied conservatives and allies in the country’s parliament to win 325 votes.

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MacroBusiness Wednesday, May 7, 2025 - 09:00 Source

The Greens’ dream of becoming the ‘third force’ in Australian politics has been eviscerated following Saturday’s federal election. The Greens’ primary vote fell and they lost the lower house seats of Griffith and Brisbane, with vocal housing whinger Max Chandler-Mather booted. As of Wednesday morning, Greens Leader Adam Bandt was trailing Labor’s Sarah Witty 47.3%

The post The bursting of the Green bubble appeared first on MacroBusiness.

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Renew Economy Wednesday, May 7, 2025 - 08:40 Source
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MacroBusiness Wednesday, May 7, 2025 - 08:00 Source

Recently, three migration pacts have been signed by Australia that facilitate Indian migration, namely: The Australia-India Economic Cooperation and Trade Agreement (ECTA), signed by the former Morrison Coalition government. Australia-India Migration and Mobility Partnership Agreement, signed by the current Albanese Labor government. The Mechanism for Mutual Recognition of Qualifications, signed by the current Albanese Labor

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Renew Economy Wednesday, May 7, 2025 - 07:53 Source
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Your Democracy Wednesday, May 7, 2025 - 06:56 Source

The two-month-long siege is a “clear and calculated effort to collectively punish over two million civilians and to make Gaza unliveable”.

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Your Democracy Wednesday, May 7, 2025 - 06:10 Source

The European Union, that grand and failing dream of technocrats, is dying. Its decline is not sudden or dramatic but a slow unraveling, a bureaucratic collapse in which every policy designed to sustain it only hastens its demise.

 

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Renew Economy Wednesday, May 7, 2025 - 05:29 Source
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MacroBusiness Wednesday, May 7, 2025 - 00:05 Source

On Tuesday, the Australian Bureau of Statistics (ABS) released dwelling approvals data for March, which recorded an 8.8% monthly fall to 15,220 approvals. House approvals fell by 4.5% in March, while unit & apartment approvals fell by 15.1%. Annual approvals rose to 180,740, up 10% on the June 2024 low of 164,254. As illustrated below,

The post Australia’s housing target decimated again appeared first on MacroBusiness.

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Renew Economy Wednesday, May 7, 2025 - 00:01 Source
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The Tally Room Tuesday, May 6, 2025 - 23:03 Source

For tonight’s update, I’m going to first touch on the races I included in this morning’s post and how they have changed. Those are the seats that are conventional close races.

Then I will turn my focus to the seats where the two-candidate-preferred count has been recalibrated to a different pair of candidates. In these seats there has been some significant progress today towards resolving these seats.

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Renew Economy Tuesday, May 6, 2025 - 20:04 Source
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Your Democracy Tuesday, May 6, 2025 - 19:00 Source

https://www.youtube.com/watch?v=_oW5B0uh0n8Massive Escalation: Russia Announced that NATO Launched Preparations for Seizure of KALININGRAD

 

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Your Democracy Tuesday, May 6, 2025 - 17:37 Source

Creating negotiating leverage? Trump and Bessent are delusional. Russia already knows that there is, “no daylight” between the US and Ukraine. Were it not for US actions to quash previous negotiations, to supply weapons, ammunition and intelligence, and to fund Ukraine’s government, this war would be over. If Trump thinks that this gives him leverage to pressure Putin to end the war, then it is just one more example of Trump’s detachment from reality. 

 

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MacroBusiness Tuesday, May 6, 2025 - 16:07 Source

AUD/USD EUR/USD USD/JPY GBP/USD Gold WTI Brent Australia 200 US S&P 500 UK 100 Japan 225                    

The post Macro Afternoon: 6 May 2025 appeared first on MacroBusiness.

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Renew Economy Tuesday, May 6, 2025 - 15:39 Source
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Cheeseburger Gothic Tuesday, May 6, 2025 - 15:36 Source

I spent most of the election weekend down in Sydney, finishing a book in my hotel room and giving a talk at that architecture conference.

It went very well, thank you.

Both the talk—and, of course, the election.

It had been a while since I’d spent much time in the centre of Sydney. When I go down, I usually stay out at Bondi—my old hood. But I hadn’t been in the city proper for any serious stretch of time since the light rail went into George Street, and I was really surprised by how much of a difference it’s made to the CBD.

Like, completely transformed it.

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Renew Economy Tuesday, May 6, 2025 - 15:36 Source
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Renew Economy Tuesday, May 6, 2025 - 15:33 Source
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Renew Economy Tuesday, May 6, 2025 - 15:17 Source

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Renew Economy Tuesday, May 6, 2025 - 14:43 Source
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Renew Economy Tuesday, May 6, 2025 - 14:40 Source
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MacroBusiness Tuesday, May 6, 2025 - 14:00 Source

I reported last week on the latest results from Realestate.co.nz, showing that the national average asking price of homes listed on the site declined for the second consecutive month in April to $851,746, down 3.8% from $884,995 in February. The decline in prices was attributed to a growing glut of homes listed for sale, which

The post New Zealand’s house price crash steepens appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 6, 2025 - 13:30 Source

JKM LNG futures are still signalling gasmageddon for Australia later this year. Adjusted for an AUD at 70 cents, plus regasification costs, imported LNG will still be coming in at about $19Gj versus $12Gj today. The gas cartel will respond to LNG imports by restricting supply so that global prices become the marginal price setter.

The post A second chance for Jim Chalmers to prevent gasmageddon appeared first on MacroBusiness.

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