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MacroBusiness Tuesday, May 6, 2025 - 10:00 Source

Westpac published the following chart showing that the average minimum mortgage repayment has surged since 2022. “Over the two years to January 2024, the average minimum repayment increased by 42.2%, or about $754, while average incomes grew just 8.5% (or $641)”, Westpac noted. CBA also published the following chart showing that average loan repayments have

The post There’s no way out for Australian renters appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 6, 2025 - 09:30 Source

DXY is struggling mightily to get anywhere. AUD follows EUR. Lead boots plod on. Got to be quick to grab gold these days. Oil in all sorts. Metals no bueno for growth. Big miners perfect down channel. Life for EM? Not if credit has its way. Fed cuts are disappearing. Stocks no likee. AUD is

The post Australian dollar Europe’s new super-currency appeared first on MacroBusiness.

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The Tally Room Tuesday, May 6, 2025 - 09:15 Source

At the time of writing on Monday evening, there appear to be 17 close seats worth following over the next few days.

By my reckoning there are three types of seats worth watching:

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Your Democracy Tuesday, May 6, 2025 - 09:10 Source

The federal election result carries some hard-won lessons. The overarching lesson for the Liberals is to accept that they’re just not very good at politics.

A fundamental failure: They’ve been suffering a shrinking share of women’s votes since 1996. But the evidence shows they prefer to keep the boys’ club intact even if it pushes them into extinction.

 

BY Peter Hartcher (SMH)

 

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Renew Economy Tuesday, May 6, 2025 - 08:26 Source
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Renew Economy Tuesday, May 6, 2025 - 08:19 Source
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MacroBusiness Tuesday, May 6, 2025 - 08:00 Source

Exorbitant lot prices are a significant factor against new home sales and construction. Consider the following charts taken primarily from the 2025 Urban Development Institute of Australia (UDIA) State of the Land Report. The first chart shows that the median lot price has risen strongly since the beginning of the pandemic across all major housing

The post Australia’s land price bubble chokes housing supply appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 6, 2025 - 00:05 Source

Over the past decade, the Australian economy has recorded some of the poorest productivity growth in the world and the nation’s poorest productivity growth on record. Last week, I presented five reasons why Australia’s productivity growth has declined, namely: The mining boom of the 2000s and the associated surge in the Australian dollar contributed to

The post The root cause of Australia’s productivity collapse appeared first on MacroBusiness.

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Renew Economy Monday, May 5, 2025 - 21:18 Source
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Your Democracy Monday, May 5, 2025 - 18:23 Source

Arkansas GOP Senator Tom Cotton is just ITCHING for a war with Iran. In a recent congressional hearing Cotton pointedly asked President Donald Trump's nominee for chairman of the Joint Chiefs of Staff Dan Caine if he is prepared to propose bombing Iran as an option to the President. Cotton also mocked antiwar voices who suggest that our foreign policy is leading us into yet another “endless war.”

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THE BLOT REPORT Monday, May 5, 2025 - 17:24 Source

After the Liberal Party’s crushing defeat in the weekend’s federal election, it wasn’t going to be long before the recriminations started. However, it is probably useful to go back to the election result to see how extraordinary it was. It is the first time since World War 2 that a first term Australian federal government has had a swing towards it rather than away from it. The swing against such first term governments at their next election has varied from 0.3% to 4.6%, and averages about 1%. In the weekend’s election, the swing toward the Albanese government looks likely to be about 4.5%1.

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Your Democracy Monday, May 5, 2025 - 17:19 Source

The speakers discuss the ongoing Ukraine war, criticizing U.S. involvement and framing it as a geopolitical trap for former President Trump, who they argue should have immediately withdrawn all support to Ukraine upon taking office. They believe that doing so would have ended the war early, with Russia still achieving most of its goals. They argue that Russia was always willing to negotiate for a neutral, demilitarized, and "denazified" Ukraine, but the West ignored this.

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MacroBusiness Monday, May 5, 2025 - 16:22 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: 5 May 2025 appeared first on MacroBusiness.

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George Monbiot Monday, May 5, 2025 - 16:09 Source

A remarkable before-and-after experiment provides conclusive evidence: the BBC favours the right and excludes the left.

By George Monbiot, published in the Guardian 1st May 2025

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Renew Economy Monday, May 5, 2025 - 14:50 Source
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Your Democracy Monday, May 5, 2025 - 14:11 Source

As trade tensions flared between the world’s largest economies, communication between the United States and China has been so shaky that the two superpowers cannot even agree on whether they are talking at all.

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MacroBusiness Monday, May 5, 2025 - 13:30 Source

By Stephen Saunders The sanctimonious left-elite is euphoric, confident that Labor is set to inflict six more years of population replacement, energy malfeasance, and housing distress. When Labor unaccountably lost Election 2019, inhouse reviewers Craig Emerson and Jay Weatherill summarised the problems in 500 words. The key message: “Labor should position itself as a party

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MacroBusiness Monday, May 5, 2025 - 13:00 Source

The Q4 2024 national accounts reported that Australian real per capita household consumption had fallen for eight consecutive quarters: This decline in consumption was in response to an 8% decline in real per capita household disposable incomes: It was also in response to the recent surge in mortgage and rental payments: Westpac has released survey

The post Cautious Aussies choose saving over spending appeared first on MacroBusiness.

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MacroBusiness Monday, May 5, 2025 - 12:30 Source

The ferrous complex struggles on. Flat steel demand is solid. Long not so good . Production is OK. But the trade war is yet to fully strike, including direct tariffs upon steel, and the steel production cuts that come with both, Not out of the woods here yet.

The post Iron ore struggles on appeared first on MacroBusiness.

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MacroBusiness Monday, May 5, 2025 - 12:00 Source

Over the past decade, the Liberal government in Canada has run the nation’s biggest immigration program in history, which culminated in a record 1.2 million net migrants arriving in the 2023-24 financial year. This surge in population created a record shortfall of housing, as illustrated below: As a result, rental vacancy rates collapsed to record

The post Canada reboots mass migration policy appeared first on MacroBusiness.

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MacroBusiness Monday, May 5, 2025 - 11:30 Source

The Department of Home Affairs has released temporary visa data for Q1 2025, showing a record 2,541,651 temporary visas on issue in Australia (excluding visitors). This figure was around 120,000 higher than the year prior and about 580,000 higher than Q1 2020, before the pandemic. As illustrated below, the surge in temporary visas since Q1

The post International students ruthlessly exploit bridging visas appeared first on MacroBusiness.

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MacroBusiness Monday, May 5, 2025 - 11:00 Source

If Albo’s idiots have any brains at all, they will immediately spend their Trump windfall of political capital on embracing Peter Dutton’s gas reservation policies. Returning Australian gas to eastern states’ use is essential to stabilising inflation, the energy transition, and industrial growth, all KPIs for the renewed government. In the meantime, there is potentially

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MacroBusiness Monday, May 5, 2025 - 10:30 Source

The Albanese government was the worst government in modern Australian history. It is a: routine liar political hack over national interest policymaker housing calamity energy price catastrophe industrial horror story budget wrecker wages killer living standards destroyer immigration obsessive China groveller. The nation just handed this black hole government the largest blank cheque anybody can

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Your Democracy Monday, May 5, 2025 - 10:26 Source

I’m a proud lonely weed

In the middle of the median strip

A small crack for me to creep

Through the concrete decrepit

 

I am an unwanted plant in the wrong place 

With insignificant blooms and ugly face

So the humans say but I think I’m pretty

And prolific too short-lived unfortunately

Some call me dandelion or pissenlit

Others insist on Taraxacum officinale

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MacroBusiness Monday, May 5, 2025 - 10:00 Source

The latest rental affordability report from PropTrack revealed that at the end of 2024, Australian households could afford to rent the smallest share of advertised rentals since at least 2008, when records began. The primary cause of the collapse in rental affordability is the extreme growth of rents, which have risen by 48% nationally since

The post Aussie landlords gain from renters’ pain appeared first on MacroBusiness.

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xkcd.com Monday, May 5, 2025 - 10:00 Source

In addition to gravity, burritos interact through the strong, weak, and electromagnetic forces, which is believed to be a major contributor to their popularity.

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Renew Economy Monday, May 5, 2025 - 09:40 Source
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Renew Economy Monday, May 5, 2025 - 09:32 Source

tilt rye park

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MacroBusiness Monday, May 5, 2025 - 09:30 Source

The Market Ear on the short squeeze. Most since August S&P 500 +18% from the lows 4 weeks ago. More than 88% of S&P 500 stocks are trading above their 20 day moving average, the most since August. However, many sentiment & positioning indicators are still massively lagging, which would indicate room for more buying.

The post The short squeeze rips appeared first on MacroBusiness.

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MacroBusiness Monday, May 5, 2025 - 09:14 Source

Following the 2022 federal election, the Australian Greens declared themselves the “third force” in Australian politics after picking up 12.2% of the primary vote and winning four federal seats: During this election campaign, the Greens salivated at the prospect of forming a minority government with Labor whereby it could force its policy agenda. The outcome

The post A grim election for the Australian Greens appeared first on MacroBusiness.

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