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MacroBusiness Thursday, September 4, 2025 - 06:49 Source

DXY is down. AUD is up, though the trend is a mess. CNY down. Gold to the moon! Metals mixed. Big bear is still in there. EM yawn. Junk still trending better. Whoa! US short-end yields are breaking down, long sticky. Feeding stocks. So much for bond vigilantes. We’ve been JOLTED instead. The number of

The post Australian dollar loves unemployed Americans appeared first on MacroBusiness.

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Your Democracy Thursday, September 4, 2025 - 04:44 Source

 

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Your Democracy Thursday, September 4, 2025 - 04:04 Source

 

That’s one of the silliest things about the way rightists are always babbling about how we need to protect our way of life from immigrants or Islam or “the trans agenda” or whatever. They’re beginning with the assumption that this train wreck of a society is worth saving at all.

 

Western Civilization Is Not Worth Saving

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Your Democracy Thursday, September 4, 2025 - 04:00 Source

Russian presidential aide Yury Ushakov said on Wednesday he hoped US President Donald Trump was joking when he suggested the leaders of Russia, China, and North Korea were “conspiring” against Washington.

Trump posted the claim on Truth Social during a military parade in Beijing marking the World War II victory over Japan. Russian President Vladimir Putin was in attendance alongside Chinese leader Xi Jinping and North Korea’s Kim Jong-un. 

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MacroBusiness Thursday, September 4, 2025 - 00:05 Source

The 2025 federal election campaign saw both sides of politics cynically propose policies to pump homebuyer demand and prices. Both sides also explicitly stated that they want to see Australian house prices rise at a ‘sustainable rate’ from already record-high levels. Neither side genuinely wants to “solve” the housing affordability crisis because that would require

The post Why Australian politicians pump house prices appeared first on MacroBusiness.

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Renew Economy Thursday, September 4, 2025 - 00:01 Source
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George Monbiot Wednesday, September 3, 2025 - 21:46 Source

The election of Zack Polanski as Green Party leader could be the moment our political drought begins to break.

By George Monbiot, published in the Guardian  3rd September 2025

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Renew Economy Wednesday, September 3, 2025 - 18:24 Source
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John Quiggin Wednesday, September 3, 2025 - 17:13 Source

The purpose of this submission is to respond to the National Electricity Market Wholesale Market Settings Review Draft Report, released in August 2025. The purpose of this submission is to argue that the ad hoc interventions seen so far should be replaced by centralised long-term planning of investment in both generation and transmission.

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MacroBusiness Wednesday, September 3, 2025 - 16:30 Source

Asian share markets are seeing a broad selloff as the riskoff mood in the wake of bond sales continues to dominate the marketplace as we await Friday’s NFP print from the US. The USD is lifting slightly after being against a wall of selling against the majors but all eyes on are US Treasuries as

The post Macro Afternoon appeared first on MacroBusiness.

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Renew Economy Wednesday, September 3, 2025 - 15:24 Source
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Renew Economy Wednesday, September 3, 2025 - 15:00 Source
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Renew Economy Wednesday, September 3, 2025 - 14:54 Source
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Your Democracy Wednesday, September 3, 2025 - 14:42 Source

Danny criticizes U.S. and Western policy toward Russia and Ukraine, framing it as unrealistic "script-writing" divorced from battlefield realities.

Kaya Callis praised Trump’s diplomacy but argued Putin rejects peace, insisting Russia seeks war.

The speaker counters that Russia has offered peace on its own terms, while the West demands concessions from a weaker position it would never accept if roles were reversed.

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Renew Economy Wednesday, September 3, 2025 - 14:12 Source
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MacroBusiness Wednesday, September 3, 2025 - 13:30 Source

New Zealand’s economy and housing market remain in a funk. As illustrated below by Justin Fabo from Antipodean Macro, the Reserve Bank of New Zealand’s Kiwi-GDP nowcasting model suggests that the nation’s GDP may have declined in Q2 2025 by 0.3%. New Zealand’s labour market is also suffering its weakest conditions in a decade outside

The post New Zealand desperately tries to reignite house prices appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 3, 2025 - 13:00 Source

As they say, a gas particle gathers no moss. Do they say that? No. But you catch my drift. Global markets for energy are dynamic, and today brings a new development of scale, via AlJazeera. Russia and China have agreed to move forward with a new gas pipeline during Russian President Vladimir Putin’s trip to

The post Suddenly, Australia will be better off with imported gas appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 3, 2025 - 12:30 Source

The Aussie economy has passed the zenith of its historic government spending splurge as public investment peaks, according to Westpac. Today’s data showed that public investment was the primary drag. As the pipeline of public investment projects turns lower, this is feeding through into weaker activity. This quarter new public investment declined 3.4%qtr to be

The post Aussie growth craters with government spending appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 3, 2025 - 12:04 Source

The Australian Bureau of Statistics (ABS) released the national accounts for Q2 2025, which revealed stronger than expected growth. Analysts had tipped a 0.4% rise in headline GDP, and the RBA had forecast 0.5% growth. However, a 0.6% rise was recorded, led by household and government spending. Headline GDP grew by 1.8% over the 2024-25

The post Recession ends with GDP boost appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 3, 2025 - 12:00 Source

Recently here at MacroBusiness, I explored how during the industrial revolution the investors in the stocks of American railroad companies did not see the huge returns that one might have expected, despite railroads dramatically transforming and boosting the U.S. economy. The piece posed an important question regarding the rise of AI: it’s entirely possible to be

The post Will data centres bleed money? appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 3, 2025 - 11:30 Source

The Market Ear on a bubble whose time has come. Breaking down SPX is breaking below the trend line that has been in place since May. Note we took out the 21 day…and are trading close to the 50 day as of writing. No bueno. Source: LSEG Workspace NASDAQ as well NASDAQ is falling below

The post Into the bear’s lair appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 3, 2025 - 11:00 Source

Steel prices are in an outright rout. This is the opposite of what the Beijing parade should produce. Yet everybody wants town iron ore with Simndou two months hence? This is fruitcake time. Chinese steel margins are collapsing as inventories pile up. There is only one outcome here. Production must fall, and all ferrous inventories

The post Iron ore turns into fruitcake appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 3, 2025 - 10:30 Source

UN climate director Simon Stiell flew to Australia to blame us for the world’s climate troubles. Stiell warned that Australia will cause the world to “overheat” and that fruit will be a “once-a-year treat” if the Albanese government does not increase its clean-energy aspirations. He also warned that unambitious interim aims would undermine Australia’s “high

The post Australia should ignore UN on ‘net zero’ appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 3, 2025 - 10:00 Source

The left-leaning media have come out in force against the notion that Australia’s immigration intake remains too high. The SMH/Age posted a weak sauce ‘fact check’ on claims that Australia has experienced “unprecedented immigration” and “Big Australia by stealth”. The authors Natassia Chrysanthos and Shane Wright claim that the recent migration surge is merely ‘catch-up’

The post Migration lies, damn lies, and statistics appeared first on MacroBusiness.

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xkcd.com Wednesday, September 3, 2025 - 10:00 Source

Another group of mathematicians is working to put an upper bound on the number, although everyone keeps begging them to stop.

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Renew Economy Wednesday, September 3, 2025 - 09:47 Source
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MacroBusiness Wednesday, September 3, 2025 - 09:30 Source

While Australians are distracted by everything from Donald Trump fascism to a handful of Melbourne neo-Nazis, local democracy is in far greater peril as it lurches the other way. As “Beijing Bob” Carr and “Manchurian Dan” Andrews head to Beijing to warmonger with their Beijing masters, John Bolton took time out of his days of

The post Australia is lurching towards Communist not Nazi tyranny appeared first on MacroBusiness.

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Your Democracy Wednesday, September 3, 2025 - 09:08 Source

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Your Democracy Wednesday, September 3, 2025 - 09:06 Source

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MacroBusiness Wednesday, September 3, 2025 - 09:00 Source

Overnight saw risk taking a dive as Wall Street returned and was volatile over a secret Google ruling that ended upsetting other tech stocks while the latest US manufacturing PMI print came in slightly better than expected, giving USD another drive higher. Like other undollars, the Australian dollar gave up its recent gains to head

The post Macro Morning appeared first on MacroBusiness.

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