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Your Democracy Friday, May 9, 2025 - 04:04 Source

A new Pope has been elected by the conclave of cardinals at the Vatican. A US-born prelate, Robert Francis Prevost, has been named as the new pontiff. He is the first American Pope in history.

Born in Chicago, Illinois, Prevost, 69, has taken the name Leo XIV. He spent much of his church career as a missionary in Latin America and worked for a decade in Trujillo, Peru, before becoming bishop of the Peruvian city of Chicalayo.

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MacroBusiness Friday, May 9, 2025 - 00:05 Source

Australia is experiencing a housing crisis because its home prices are among the highest in the world compared to incomes, we have some of the most indebted households in the world, and tenants are paying a record share of their income on rent. According to CoreLogic, the total value of Australia’s housing stock was $11.3

The post Australia’s housing crisis takes ugly turn appeared first on MacroBusiness.

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Renew Economy Thursday, May 8, 2025 - 20:07 Source
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MacroBusiness Thursday, May 8, 2025 - 16:50 Source

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

The post Macro Afternoon: 8 May 2025 appeared first on MacroBusiness.

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Your Democracy Thursday, May 8, 2025 - 15:58 Source

In 25 years, Russia rose from the ruins of the '90s to a global power with a $6.94 trillion economy.

"We set a goal to become one of the world’s top four economies. And by the way, according to some data — including assessments by the World Bank — just last week they released updated figures placing Russia in fourth place. We’ve now moved ahead of Japan."

Vladimir Putin, 2024

 

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Renew Economy Thursday, May 8, 2025 - 15:41 Source
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Renew Economy Thursday, May 8, 2025 - 15:22 Source
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Renew Economy Thursday, May 8, 2025 - 15:15 Source
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Renew Economy Thursday, May 8, 2025 - 14:39 Source
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MacroBusiness Thursday, May 8, 2025 - 14:00 Source

Propaganda is maddening in its resistance to all truth. The Australian. New sources of gas that have been earmarked to fix a looming east coast shortfall will not be ready in time and cost just as much as imported LNG, a report from Rystad Energy on behalf of gas pipeline operator Jemena has concluded. …But

The post For god’s sake, fix the gasmageddon appeared first on MacroBusiness.

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MacroBusiness Thursday, May 8, 2025 - 13:30 Source

Gone are the days of iron ore’s Pavlovian response to China yawnulus. In days of yore, the following would have sent iron ore nuts. BofA. ThePBOC, NFRA and CSRC jointly announced a raft of monetary, consumption, capital market, and property measures to stimulate the economy. In terms of 1) monetary easing–PBOC will cut the RRR

The post China yawnulus does nothing for iron ore appeared first on MacroBusiness.

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Renew Economy Thursday, May 8, 2025 - 13:10 Source
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MacroBusiness Thursday, May 8, 2025 - 13:00 Source

Goldman’s excellent Andrew Boak is still on point. Australia’s recent CPI data showed that core inflation is now tracking well within the RBA’s 2-3% target band, with six-month annualised growth in the trimmed-mean measure decelerating 25bps to 2.5%. Compositionally, a range of wage-sensitive services items showed significant disinflation, offsetting stickiness in some government-linked administered prices.

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Renew Economy Thursday, May 8, 2025 - 12:49 Source
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MacroBusiness Thursday, May 8, 2025 - 12:30 Source

Twitter (X) user Oliver in WA posted the following stunning chart showing how Australians are heavily overweight in housing (4.5 times GDP) compared to other English-speaking nations. The same can be said about Australians’ mortgage debts, which are among the highest in the world when measured against incomes or GDP. The following chart from Justin

The post Aussie mortgage holders plead for respite appeared first on MacroBusiness.

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MacroBusiness Thursday, May 8, 2025 - 12:05 Source

We have a checklist for you. Unpack easy‑to‑implement strategies—salary sacrifice, after‑tax contributions, spouse splits, recontribution tactics, and timing moves before 30 June—to help you keep more of what you earn while boosting your retirement balance. Join us in this week’s podcast as Nucleus Wealth’s Chief Investment Officer, Damien Klassen, as we decode all these for you.

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MacroBusiness Thursday, May 8, 2025 - 12:00 Source

Alex Joiner, chief economist at IFM Investors, published the following chart showing the structural decline in private demand over the past decade, offset by the surge in public demand. Joiner’s chart paints a picture of a ‘lost decade’ for the private sector economy. Indeed, population growth averaged 1.5% over the past decade, implying per capita

The post Australia’s lost economic decade appeared first on MacroBusiness.

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MacroBusiness Thursday, May 8, 2025 - 11:30 Source

The Market Ear on the stocks stall. Boring for longer? VIX seasonality has been a bit delayed this year, but it looks like things will be boring for some longer… Source: Vixcentral Put hate is back The crowd tends to love puts at local market lows, and hate puts at local market highs. Source: Tradingview

The post Stocks run out of puff appeared first on MacroBusiness.

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Renew Economy Thursday, May 8, 2025 - 11:05 Source
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MacroBusiness Thursday, May 8, 2025 - 11:00 Source

Australian taxpayers heavily subsidise electric vehicles (EVs). First, the Fringe Benefits Tax (FBT) exemption for battery EVs and plug-in hybrids (PHEVs) is estimated to cost the federal budget more than $550 million in lost tax revenue annually. However, the FBT exemptions for PHEVs expired on April 1, 2025, implying a future reduction in budget costs.

The post Generous subsidies can’t rescue EV sales appeared first on MacroBusiness.

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MacroBusiness Thursday, May 8, 2025 - 10:30 Source

DXY rebounded. AUD went into hard reverse. Leda boots are OK. Oil and old muted. Metals no bueno for growth. Miners meh. EM meh. Junk better. Yields eased. Stocks out of uff. On a day when the US and China agree to trade talks and China launches another round of yawnulus, a falling AUD is

The post Australian dollar sells as Fed says no bueno! appeared first on MacroBusiness.

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MacroBusiness Thursday, May 8, 2025 - 10:00 Source

A 2022 survey by the Carnegie Endowment for International Peace showed that Indian migrants overwhelmingly vote for Labor over the Coalition. In the 2022 federal election, Indian migrants voted 58:34 in favour of Labor over the Coalition. Chinese-Australians also seem to prefer Labor. The Tally Room found that at the 2022 federal election, almost all

The post Why Labor loves high immigration appeared first on MacroBusiness.

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Renew Economy Thursday, May 8, 2025 - 09:21 Source
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MacroBusiness Thursday, May 8, 2025 - 09:00 Source

Building a renewable electricity system is incredibly expensive and will inevitably increase power bills. The global empirical evidence is clear: the higher the share of renewables in an energy system, the higher the electricity cost: The reasons are straightforward. Renewables depend on the weather, so they are intermittent and have low load factors. They need

The post Weren’t renewables meant to be cheaper? appeared first on MacroBusiness.

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Your Democracy Thursday, May 8, 2025 - 08:54 Source

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MacroBusiness Thursday, May 8, 2025 - 08:00 Source

Real estate agents noted that there has been a marked increase in the number of homes listed for sale in the last week alongside buyer queries. BresicWhitney CEO Thomas McGlynn expects this momentum to continue in the coming weeks after Labor secured a majority government at the federal election on Saturday. “If we see rates

The post Real estate agents gear up for house price boom appeared first on MacroBusiness.

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Your Democracy Thursday, May 8, 2025 - 07:55 Source

Acting Liberal leader Sussan Ley has offered frontbench positions to MPs in return for their support in the party’s leadership contest, according to a source familiar with the discussions.

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Your Democracy Thursday, May 8, 2025 - 06:37 Source

This one stings. When asked how the EU might dodge US President Donald Trump’s tariff hammer, Treasury Secretary Scott Bessent replied, “My observation... goes all the way back to [former US Secretary of State] Henry Kissinger’s statement: ‘When I call Europe, who do I call?’ So, we’re negotiating with a lot of different interests.” Translation: You can’t sit with us until you stop fighting at your own lunch table.

 

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Your Democracy Thursday, May 8, 2025 - 06:07 Source

Australia’s  mainstream media have ignored and distorted the genocide in Palestine. A recent Australians for Humanity forum, chaired by former SBS newsreader Mary Kostakidis, and featuring Margaret Reynolds, Stuart Rees and Peter Slezak, tackled the issues and discussed what needs to be done.

 

Pearls and Irritations

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MacroBusiness Thursday, May 8, 2025 - 00:05 Source

This century has seen a remarkable transformation of Australia. In the 60 years post-World War II, Australia’s net overseas migration averaged 90,000 per year. Australia had only recorded two calendar years with net overseas migration (NOM) exceeding 150,000. Immigration booster Professor Peter McDonald admitted in 1999 that “there were difficulties in the late 1980s when

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