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MacroBusiness Wednesday, June 29, 2022 - 09:30 Source

It’s back to tits and giggles for the MSM as the Australian energy crisis intensifies: At the beginning of the year, NEM average prices were under $50MWh. Now they are at $350MWh and still trending higher. If these prices are sustained then it will rip $50bn+ out of the east coast economy as a purely

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MacroBusiness Wednesday, June 29, 2022 - 09:30 Source

Risk sentiment soured with more downside volatility returning to equity markets overnight, not helped by a falling US consumer confidence print that doubled down with more Fed officials wanting big rate rises by the end of the year. Wall Street saw falls of 2-3% which are likely to be repeated in Asia today. The USD

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Wednesday, June 29, 2022 - 09:00 Source

DXY was strong last night: AUD was squashed: Oil up! Metals struggled: Miners dead catted some more: Not EM stocks: And junk is on the express elevator to hell with everything else soon to follow: Treasuries were bid: Stocks were smashed: Westpac has the wrap: Event Wrap US Conference Board consumer confidence fell to 98.7 (est.

The post Australian dollar smashed by Chinese recovery appeared first on MacroBusiness.

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Renew Economy Wednesday, June 29, 2022 - 08:42 Source

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Your Democracy Wednesday, June 29, 2022 - 08:29 Source

Biden’s Endgame Shouldn’t Be Victory for Ukraine

There is no realistic scenario for Ukraine to win. Washington should push for a settlement.

 

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THE BLOT REPORT Wednesday, June 29, 2022 - 08:20 Source

Many media outlets have noted the drop in religiosity indicated by the latest Australian Bureau of Statistics (ABS) census results, and I tend not to reiterate the same stuff the mainstream media have come up with unless there is something else that can be said. However, the disparity between this census and other recent surveys is something that has piqued my interest. 

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Your Democracy Wednesday, June 29, 2022 - 07:28 Source

Elvis Is a Con… Baz Luhrmann’s biopic scrambles to reassure us with a woke Elvis while failing to understand what really made him the King.  BY JACK HAMILTON

Hello? I beg to strongly differ with Hamilton who by all means is an expert on popopopop, while Old Gus is just an old bloke…

 

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The Australian Independent Media Network Wednesday, June 29, 2022 - 06:00 Source

One of the promises the new Prime Minister made during the election campaign was to create or recreate a more civil parliament and, for that matter, a more tolerant and reasoned society. Most would all agree that we want our politicians to put their better minds to the problems confronting us. We want the screaming…

The post The difference between manners and civility appeared first on The AIM Network.

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MacroBusiness Wednesday, June 29, 2022 - 00:05 Source

Australia’s booming pre-COVID international education industry was built on the back of Chinese students: In 2019, this prompted Associate Professor Salvator Babones to publish the seminal paper, The China Student Boom and the Risks It Poses to Australian Universities, which showed that Australian universities had become dangerously dependent on Chinese students, with concentrations that dwarf similar

The post Aussie universities still dangerously addicted to Chinese students appeared first on MacroBusiness.

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MacroBusiness Wednesday, June 29, 2022 - 00:05 Source

Cheap and easy access to mortgage credit was the fuel that lifted Australian house prices by 35% over the pandemic. Now the housing market is facing the polar opposite forces, with mortgage rates rising at the same time as credit is becoming more difficult to obtain. The Reserve Bank of Australia (RBA) has only hiked

The post Tightening lending standards hammer house prices appeared first on MacroBusiness.

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MacroBusiness Wednesday, June 29, 2022 - 00:01 Source

Global Macro / Markets / Investing: Wall Street layoffs likely ahead as two-year hiring boom turns to bust – CNBC Great Resignation, Remote Work Mean Employees Need Better Bosses, Managers – Business Insider Vulture Capitalists are killing journalism – The Atlantic Global Windfall Profit Tax of 90% Needed to Address ‘Catastrophic’ Food, Climate Crises: Oxfam

The post Links 29 June 2022 appeared first on MacroBusiness.

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Renew Economy Wednesday, June 29, 2022 - 00:01 Source

Minister for Climate Change and Energy Chris Bowen speaks to media during a press conference at Parliament House in Canberra, Thursday, June 2, 2022.</body></html>

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Your Democracy Tuesday, June 28, 2022 - 20:52 Source

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The Australian Independent Media Network Tuesday, June 28, 2022 - 19:13 Source

I cannot bite my tongue anymore about the egregious disrespect Senator Hollie Hughes is displaying to the Australian teaching profession. Previously Senator Hughes remarkably claimed the Coalition lost the Federal Election because of the lessons being taught to school children by ‘Marxist teachers.’ Senator Hughes then doubled down today claiming the ‘Marxist teachers’ had been…

The post Stop the culture wars, Senator Hughes appeared first on The AIM Network.

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Renew Economy Tuesday, June 28, 2022 - 17:34 Source

neoen tesla big battery hornsdale

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Your Democracy Tuesday, June 28, 2022 - 17:33 Source

Billionaires Can Arm Ukraine

 

The ultra-rich should dip into their deep pockets—for their own sake.

Dear Jeff Bezos,

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Cheeseburger Gothic Tuesday, June 28, 2022 - 17:32 Source

Had my second Covid booster. It is kicking my butt. Pretty good excuse for an afternoon nap though.

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MacroBusiness Tuesday, June 28, 2022 - 16:30 Source

Asian share markets continue to do well with risk sentiment firming despite pullbacks on Wall Street overnight. The USD is weakening a little against most of the undollars, with the Australian dollar trying to push a little higher above the 69 mid level. Oil prices are trying to stabilise after their falls on Friday night

The post Macro Afternoon appeared first on MacroBusiness.

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Your Democracy Tuesday, June 28, 2022 - 16:20 Source

fascists to the end of time…..fascists to the end of time…..

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Your Democracy Tuesday, June 28, 2022 - 16:02 Source

In Shaftesbury or Lost and Found — a “genre” painting by William MacDuff and shown at the Royal Academy in 1863 — the crumpled hand-bill in the foreground advertises a meeting of the Ragged School Union under Shaftesbury’s presidency. Its activities included setting up homeless street arabs as shoeblacks, hence the interest shown by the two boys in the print of their benefactor.

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MacroBusiness Tuesday, June 28, 2022 - 14:40 Source

ANZ Bank’s latest property focus has raised the risk of a deeper New Zealand housing market crash, with both prices and construction at risk of heavy falls: The housing market is continuing to cool, with May prices down 5.5% from their November 2021 peak (ANZ seasonal adjustment)… That’s six months in a row of moderate

The post ANZ warns of deeper New Zealand housing market collapse appeared first on MacroBusiness.

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Renew Economy Tuesday, June 28, 2022 - 14:24 Source

 Western Power).

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Renew Economy Tuesday, June 28, 2022 - 14:15 Source

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Renew Economy Tuesday, June 28, 2022 - 14:03 Source

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MacroBusiness Tuesday, June 28, 2022 - 14:00 Source

Australia’s home building industry continues to collapse, with 16 large firms already winding up and many more on the brink of going under. The list of collapses is long and includes: Privium, BA Murphy, Hotondo Homes Hobart, Probuild, Condev, Inside Out Construction, Dyldam Developments, Home Innovation Builders, ABG Group, New Sensation Homes, Next, Pivotal Homes,

The post Thousands face financial ruin as home builder collapses mount appeared first on MacroBusiness.

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Renew Economy Tuesday, June 28, 2022 - 13:57 Source

sapphire wind farm

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MacroBusiness Tuesday, June 28, 2022 - 13:30 Source

In the late 1990s, Australia privatised the system that helps the unemployed find work. The idea was that by paying employment service providers for each person they placed into a job, the process would become more efficient. Instead, a parasitic industry developed with around 40 privately run employment agencies earning millions in fees from the

The post It’s time to drop the hammer on private job agencies appeared first on MacroBusiness.

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MacroBusiness Tuesday, June 28, 2022 - 13:00 Source

The always excellent Michael Wilson at Morgan Stanley leads us off: Oil, Rates, Rebalancing Lead to a Rally With talk of recession increasing sharply over the past few weeks and culminating with Fed Chair Powell’s 2-day Congressional testimony, markets decided enough bad news had been priced. We also think the sharp decline in both oil

The post Soft or hard landing. Stocks to fall appeared first on MacroBusiness.

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MacroBusiness Tuesday, June 28, 2022 - 12:30 Source

The weekly ANZ-Roy Morgan Consumer Confidence Index has been released, with confidence rebounding 3.7%; albeit remains at recessionary levels: According to ANZ Head of Australian Economics, David Plank: Consumer confidence increased 3.7% last week, possibly helped by the state budget initiatives in NSW and Queensland. Confidence increased by 4.3% and 5.2% in NSW and Queensland

The post Aussie consumer confidence dead cat bounces appeared first on MacroBusiness.

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Your Democracy Tuesday, June 28, 2022 - 12:11 Source

Data found on Hunter Biden’s laptop reveal that the US president’s son spent over $30,000 on escorts from a “model agency” with offices in Kiev and Moscow, the Washington Examiner reported on Monday. 

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