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Your Democracy Thursday, December 2, 2021 - 06:57 Source

sovereignty...sovereignty...

Singapore: Australian cattle farmers and abattoirs lost half a billion in exports to China in the last two years, cotton producers were down $870 million, copper exporters $1.5 billion.

But the Chinese importers did not miss those products. Australia’s great Indo-Pacific ally, the United States, was happy to make up for the shortfall.

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MacroBusiness Thursday, December 2, 2021 - 06:48 Source

DXY was roughly flat last night though all over the place in the process: Australian dollar likewise though rising risk-off is obvious in the yen cross: Oil lol: Base metals softened: Big miners are still hanging on: EM stocks recaptured support: Junk got worse: As the Treasury curve pancaking really gets moving: Which stocks did

The post Australian dollar OMICRON whipping boy appeared first on MacroBusiness.

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MacroBusiness Thursday, December 2, 2021 - 00:10 Source

This year has witnessed one of the most largest and broadest booms in the Australian property market’s history. Australian dwelling values have risen by an extraordinary 20.9% so far in 2021, with every capital and region experiencing strong growth: There are several factors behind this strong price growth. Record low mortgage rates and an acute

The post FOMO is leaving the Australian property market appeared first on MacroBusiness.

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MacroBusiness Thursday, December 2, 2021 - 00:05 Source

Yesterday’s national accounts for the September quarter showed that Australian households are bulging with savings. The hard lockdowns experienced across NSW, Victoria and the ACT over Q3 prevented households from spending at the same time as billions of dollars of additional income support was provided to households (chart from Deloitte): The inevitable result was that

The post Aussie households are bulging with savings appeared first on MacroBusiness.

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Renew Economy Thursday, December 2, 2021 - 00:04 Source

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MacroBusiness Thursday, December 2, 2021 - 00:01 Source

Global Macro / Markets / Investing: Fed Chairman Jerome Powell warns Congress that inflation may keep rising next year – CBS Coronavirus pandemic could cost global tourism $2 trillion this year – UN News Fattest Profits Since 1950 Debunk Wage-Inflation Story of CEOs – Bloomberg Dow skids nearly 600 points and stock market’s losses deepen

The post Links 2 December 2021 appeared first on MacroBusiness.

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Your Democracy Wednesday, December 1, 2021 - 18:36 Source

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American Pravda: Giants Silenced by Pygmies

 

Media Suppression of Our Leading Journalists and Scholars

 

By 

 

The Unz Review • An Alternative Media Selection

 

A Collection of Interesting, Important, and Controversial Perspectives Largely Excluded from the American Mainstream Media

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MacroBusiness Wednesday, December 1, 2021 - 17:30 Source

Some hope is creeping into risk markets across Asia despite further falls in stock markets overnight with Wall Street and European futures also creeping higher going into the important manufacturing PMI prints. USD is re-engaging to the upside after a slew of running to safety in Euro and Yen while the Australian dollar is finally

The post Macro Afternoon appeared first on MacroBusiness.

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John Quiggin Wednesday, December 1, 2021 - 15:21 Source

I was going to follow up my post on Labor’s tax and expenditure policies (effectively identical to LNP) with one on climate, pointing out the remaining difference – Labor’s 2019 proposal for a vehicle fuel efficiency target. Given that Morrison had tangled himself up with his backflip on electric vehicles after snarking about “abolishing the weekend” this seemed like one policy that would survive.

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MacroBusiness Wednesday, December 1, 2021 - 15:00 Source

Spare a thought for New Zealand, where CoreLogic today recorded 1.8% growth in November, with values up an extraordinary 28.4% year-on-year: The average property value in New Zealand is now an eye-watering $978,401, with Auckland ($1,402,845) and Wellington ($1,114,979) both topping one million dollars. Over the year to the end of November, the average value

The post Just when you thought Australia’s property market was mad appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 1, 2021 - 14:30 Source

Europe is scrambling to regain control over a resurgent COVID as Christmas approaches, even in countries with high vaccination rates. Despite generally high rates of vaccination: COVID cases across Europe have surged to record highs: With even highly vaccinated nations like Belgium, Netherland and Ireland experiencing an explosion of cases: The data on hospitalisations is

The post COVID runs riot across Europe appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 1, 2021 - 14:00 Source

A new report from Findex suggests “The Great Resignation” has arrived in Australia with one quarter of SMEs experiencing higher than usual staff turnover: The Great Resignation is “no longer looming but very much here”, according to new data from financial services firm Findex which has found one in four SMEs are already experiencing a

The post The Great Resignation arrives in Australia appeared first on MacroBusiness.

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Renew Economy Wednesday, December 1, 2021 - 13:33 Source

We explore the issues and challenges of protecting consumers and regulating solar retailers in Australia with Gerard Brody, the CEO of the Consumer Action Law Centre in Melbourne.

The post Great Solar Business Podcast: Consumer law and the solar industry appeared first on RenewEconomy.

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MacroBusiness Wednesday, December 1, 2021 - 13:30 Source

Pantheon Economics with the note: Stability and the Easing of Stagflation Risk in China Chinese growth stabilised in November, as one crisis ended, and the policy response to another gained traction. The official manufacturing PMI rose to 50.1 in November, from 49.2 previously, handily beating consensus expectations, while the nonmanufacturing survey was broadly stable at

The post Pantheon: Chinese stagflation ends appeared first on MacroBusiness.

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The Australian Independent Media Network Wednesday, December 1, 2021 - 13:15 Source

Who needs a truncheon when you’ve got expensive lawyers? Adolf Kipfler, das Gruppenfritter, Herr Shickltuber, the Gestapotato, Dick Tater, Spudley Too-Right, Dutton dressed as yam, J. Edgar Tuber – these are all droll mockings of a rabid autocrat and all-round nasty piece of work whose head has an unfortunate resemblance to a popular starchy staple.…

The post Spud, Godwin’s Law and the Streisand Effect appeared first on The AIM Network.

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Renew Economy Wednesday, December 1, 2021 - 13:15 Source

An alternative to solar switch-off?

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MacroBusiness Wednesday, December 1, 2021 - 13:00 Source

The Australian Bureau of Statistics (ABS) today released the national accounts for the September quarter, which registered a 1.9% fall in real GDP over the quarter and a 3.9% rise through the year. On a per capita basis, real GDP fell by 2.0% over the quarter to be up 3.5% over the year. The fall

The post GDP in detail: Get set for a W-shaped recovery appeared first on MacroBusiness.

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Renew Economy Wednesday, December 1, 2021 - 13:00 Source

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Renew Economy Wednesday, December 1, 2021 - 12:51 Source

gas-flaring-methane-emissions-nature-Edit

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MacroBusiness Wednesday, December 1, 2021 - 12:30 Source

CoreLogic has released rental data for November, with rental growth continuing at its strongest pace since 2008: The trend in rental growth has held reasonably firm since April, with the monthly change in national rents holding between 0.6% and 0.7%, well above the decade average monthly movement of 0.2%. Every capital city and rest-of-state region

The post Rental growth strong again in November appeared first on MacroBusiness.

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The Tally Room Wednesday, December 1, 2021 - 12:16 Source

The proportional voting system used for New South Wales councils doesn’t tend to produce huge one-party majorities in most areas. It often results in no party having control, and when they do have a majority it is usually a slim one.

This means that there are numerous councils where the flipping of one seat would change the current majority on the council and could dramatically change its direction. In this post I’m going to run thirteen examples amongst the 24 councils I’ve been focusing on in this election.

First up, there are four councils where Labor is just one vote short of a majority.

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Renew Economy Wednesday, December 1, 2021 - 12:08 Source

Big battery Hazelwood Fluence

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MacroBusiness Wednesday, December 1, 2021 - 12:00 Source

Goldman with the note. This is a day old so many of metrics have deteriorated. The MBFund is nicely positioned to buy if this gets nasty: Omicron drives sharp decline in Risk Appetite Last week newsflow around the Omicron COVID-19 variant weighed on risky assets, overshadowing generally positive macro data on both sides of the

The post Goldman rethinks OMICRON bullishness appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 1, 2021 - 11:38 Source

The Australian Bureau of Statistics (ABS) has released the country’s national accounts for the September quarter, with real GDP falling 1.9% over the quarter to be 3.9% higher year-on-year: The result beat analysts expectations of a 2.7% quarterly decline and 3.0% growth year-on-year. According to Acting Head of National Accounts at the ABS, Sean Crick:

The post Aussie GDP beats expectations with 1.9% fall appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 1, 2021 - 11:30 Source

Westpac is excited: Australia’s record breaking run of quarterly current account surpluses continues – with, as we have highlighted previously, more to come. In the September quarter, the current account surplus grew to a fresh record high of $23.9bn, up a touch from $22.9bn for June (upgraded from $20.5bn). As a share of the economy,

The post Behold Australia’s current account surplus. Poof! It’s gone appeared first on MacroBusiness.

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The Australian Independent Media Network Wednesday, December 1, 2021 - 11:21 Source

Get the Marines ready. Store the supplies. Marshal the allies. The United States is getting ready for war (the preferable term in Washington is policing) in the Indo-Pacific region, and is hoping to do so with a range of expanded bases across client states, or what it prefers to call friends. On November 29, the…

The post Arming Against China: The US Global Posture Review appeared first on The AIM Network.

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MacroBusiness Wednesday, December 1, 2021 - 11:00 Source

New data from the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) suggests that Australia’s farms have lifted their productivity in response to the reduction in migrant farm workers: The Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) found the number of workers dropped by 11,000 in 2020-21 compared to the

The post Immigration collapse drives up farm productivity appeared first on MacroBusiness.

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xkcd.com Wednesday, December 1, 2021 - 11:00 Source

Every time IERS adds or removes a leap second, they send me a birthday cake out of superstition.

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Your Democracy Wednesday, December 1, 2021 - 10:58 Source

coincidencecoincidence

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MacroBusiness Wednesday, December 1, 2021 - 10:40 Source

The stimulus party is in full swing. Shame about reality: In the new home market, in the week of November 22 – 28, transaction volume in the 15 major cities reached 28,481 units, jumping by 37.12% from the previous week, according to Zhuge Zhaofang. In particular, new home transactions reached 2,350 units in Beijing, rising

The post Chinese property correction rolls on appeared first on MacroBusiness.

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