Blogotariat

The ferrous complex is doing the seasonal thing. MySteel output is very strong this week. But can it be believed? MySteel has diverged wildly from CISA and NBS in the last few months. CISA and NBS usually track each other closely, so I am looking for a very weak July this week in NBS data.

The post A steel mystery emerges appeared first on MacroBusiness.

Of the renewable energy projects deemed controllable actions in 2023 and 2024, none have made it through the EPBC process.

Over the last year in particular, the impact of international students on the nation’s rental market has sparked significant controversy. The debate has prompted a wide range of papers and reports on the issue, with the quality varying dramatically. In the July Reserve Bank bulletin, the denizens of Martin Place shared their perspective on the

The first attempt to isolate a pancreatic extract by means of which the levels of blood glucose could be normalised in dogs was described by a Romanian researcher called Nicolae Paulescu1, but his experiments were interrupted by the First World War and were never acknowledged appropriately. However, after the war, in 1921, a young surgeon named Frederick Banting and his assistant Charles Best, from the University of Toronto, worked out how to remove insulin from a dog’s pancreas. With this extract, Banting and Best kept another dog with severe diabetes alive for 70 days—the dog died only when there was no more extract.

When I first mapped out the latest (and last) return to the Axis of Time universe, I thought I could wrap it up neatly in three books. One tight trilogy, finishing in November this year. Job done.

Hmmm. Yeah, nah. That’s… not going to happen.

As the writing has accelerated over the last couple of weeks, I’ve realised the story is still stretching its arms, refusing to be neatly tucked in. The characters keep getting up off the page, demanding their say. And the narrative possibilities keep offering more corners to explore and conflicts to resolve than my initial story map encompasses.

Earlier this year, economist Chris Murphy noted that the historical effective average income tax rate in the first two decades of this century was 23%. Even with stage three income tax cuts worth around $23 billion per year, Murphy warned that bracket creep would lift the average tax rate by two percentage points to 25%

The post Australian workers face decades of pain appeared first on MacroBusiness.

With a few elections finishing up, I have now made a number of additions to the Tally Room’s data repository.

Friday night saw most stock markets rise including the NASDAQ which put in another record high despite obvious concerns that asset prices are overextended, but traders are betting on forthcoming cuts from the Federal Reserve amongst others in the battle against the Trump regime’s tariffs. The USD was mixed or lower against the majors although

The post Macro Morning appeared first on MacroBusiness.

DXY was uncertain Friday night. AUD too. Lead boots are stalled. Gold is sniffing Fed capitulation. Oil is sniffing Ukraine peace. Metals are trading DXY. The big bear is intact. EM trying again. But junk stalled. As yields popped, sniffing the opposite of gold. The bubble expands. This week, the big report is the US

The post Australian dollar enters tariff death zone appeared first on MacroBusiness.

Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please.

I’m now using Substack as a blogging platform, and for my monthly email newsletter. For the moment, I’ll post both at this blog and on Substack. You can also follow me on Mastodon here.

My new report prepared for Friends of the Earth Australia demonstrates that the development of a nuclear-powered, conventionally-armed nuclear submarine fleet entails multiple public health risks and would inevitably suffer from delays and cost-blowouts.

Washington is not going to fund Ukraine anymore, US Vice President J.D. Vance told Fox News on Sunday.

Ukraine’s European backers can buy the weapons from American producers if they want to continue supporting Kiev, and the US will be “okay with that,” Vance added. “But we're not going to fund it ourselves anymore,” he said.

“It was a coup, and I’m using that term literally … One egregious felony after another.” — Stephen Miller

America is tired of being driven insane, of having absurdities crammed into our collective consciousness. Reality is an agreement about what is going on in the world. That act of faith requires such an agreement be based on what is demonstrably true. Without it, society dissolves into chaos and failure.