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MacroBusiness Monday, March 20, 2023 - 13:00 Source

Last week’s population data from the Australian Bureau of Statistics (ABS) showed that Australia’s population surged by nearly 500,000 over the 2022 calendar year off record net overseas migration: Interestingly, the breakdown of population growth by jurisdiction to Q3 2022 shows that Queensland has led the nation’s population increase since the start of the pandemic

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Your Democracy Monday, March 20, 2023 - 12:58 Source

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MacroBusiness Monday, March 20, 2023 - 12:30 Source

Albo’s idiots are lying: The Australian government will have complete control over the Virginia-class submarines it plans to buy from the United States with Defence Minister Richard Marles rejecting any suggestion a deal has been done with America that the boats would be used in a war over Taiwan. Marles, speaking on ABC’s Insiders on

The post If AUKUS is sovereign, it is useless appeared first on MacroBusiness.

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The Australian Independent Media Network Monday, March 20, 2023 - 12:22 Source

The arrest warrant from the International Criminal Court for Russian President Vladimir Putin came at an opportune moment. It was, if nothing else, a feeble distraction over the misdeeds and crimes of other leaders current and former. Russia, not being an ICC member country, does not acknowledge that court’s jurisdiction. Nor, for that matter, does…

The post Criminals at Large: The Iraq War Twenty Years On appeared first on The AIM Network.

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THE BLOT REPORT Monday, March 20, 2023 - 12:15 Source

The last of a previous series of four articles related some of the activities surrounding the 2021 Church and State Summit convened by one David Pellowe. At that summit, Pellowe implored the audience to join political parties, while attendees George Christensen suggested that Christians should be disingenuous when running for office by keeping their real motivations covert, and Martin Iles, the recently dumped head of the Australian Christian Lobby, said that violence was a possibility1. Two years on, Pellowe is at it again, having organised the 6th Annual Church and State Summit on the 3rd and 4th of March2. So, I clearly missed the 5th.

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Renew Economy Monday, March 20, 2023 - 12:10 Source

germany wind energy

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MacroBusiness Monday, March 20, 2023 - 12:00 Source

Is it any wonder? The US and European banking crises are coming to Australia via funding costs and collapsing commercial property. Followed by another blow as recession feeds back as bad loans: A global derating of banks is underway, and Aussie versions have some catching down to do: Of particular interest is the CBA which

The post CBA bubble goes “pop” appeared first on MacroBusiness.

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Renew Economy Monday, March 20, 2023 - 11:44 Source

Australia's bushfire threat is beyond 'worst case scenario's experts say.</body></html>

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Renew Economy Monday, March 20, 2023 - 11:43 Source

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MacroBusiness Monday, March 20, 2023 - 11:40 Source

This debate is maddeningly influenced by the gas cartel: …the Andrews government on Thursday rejected the suggestion that more gas supply was needed to prevent shortages, and instead argued a domestic gas-reservation policy should be set up to stop Queensland’s liquefied natural gas (LNG) companies from shipping too much supply offshore. …Setting up a potential

The post Once more for dummies: there is no gas shortage appeared first on MacroBusiness.

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The Tally Room Monday, March 20, 2023 - 11:30 Source

Over the course of this week I’ll be running through four categories of seats that seem interesting as we get closer to Saturday. Today, I’m analysing twelve classic Labor vs Liberal seats in the Sydney region.

I’ve identified ten Liberal seats and two Labor seats worth mentioning. These seats mostly lie in an arc from the south-east to the northern suburbs, arcing through the outer western suburbs.

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MacroBusiness Monday, March 20, 2023 - 11:20 Source

Against the odds, Australian house prices continue to bounce back in the face of ongoing interest rate rises. CoreLogic’s daily dwelling values index has bounced 0.5% since bottoming on 7 February, driven by a strong 1.1% rise across Sydney: In his weekly market update, AMP chief economist Shane Oliver gives his thoughts on why he

The post Australia’s house price bounce “will be short lived” appeared first on MacroBusiness.

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MacroBusiness Monday, March 20, 2023 - 11:00 Source

The Productivity Commission’s (PC) latest Productivity Report (a misnomer) goes to great lengths spruiking the virtues of Australia’s mass immigration system. The PC’s key thesis is the myopic view that immigration improves the federal budget, while giving zero consideration of the impacts of immigration-driven population growth on state budgets, housing, infrastructure, the environment or broader

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xkcd.com Monday, March 20, 2023 - 11:00 Source

The US uses hollowed-out salt domes to store the Strategic Petroleum Reserve, and non-hollowed-out ones to store the Strategic Salt Reserve.

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MacroBusiness Monday, March 20, 2023 - 10:40 Source

The latest activity indicators from Goldman show a decent recovery. Mobility is the big winner: The infrastructure pump is going flat-out still: Property, energy, and car sales have eased:   Steel production is weak, and demand is a bit better: So, what kind of recovery is it? TSLombard: China’s long-term policy priorities have been made

The post Can China save iron ore this time? appeared first on MacroBusiness.

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MacroBusiness Monday, March 20, 2023 - 10:20 Source

The one thing that is worse for the growth outlook than an inverted yield curve is the sudden steepening of the same as markets realise that the downturn is imminent. They buy bonds, especially at the short-end of the curve, in anticipation of central banks pivoting dovish. We are there in the US: And, increasingly,

The post Bond curve steepening confirms imminent recession appeared first on MacroBusiness.

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MacroBusiness Monday, March 20, 2023 - 10:16 Source

The FOMC is on the move: The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank are today announcing a coordinated action to enhance the provision of liquidity via the standing U.S. dollar liquidity swap line arrangements. To improve the swap

The post Fed cuts loom as it opens swap lines appeared first on MacroBusiness.

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MacroBusiness Monday, March 20, 2023 - 10:00 Source

The Market Ear wraps US recession fears. If we produce one more recession chart, will you believe us then…? The call from sell-side that a recession is imminent is once again getting louder and louder. Below we have presented the 10 best charts we found over the past 24 hours that support the recession case.

The post Not QE. Stock market crash still ahead appeared first on MacroBusiness.

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MacroBusiness Monday, March 20, 2023 - 09:40 Source

The December quarter’s soft wage growth data from the Australian Bureau of Statistics (ABS) was confirmed by SEEK’s Advertised Salaries Index, which decelerated sharply over the two month’s to January: The Q4 National Accounts also showed that average compensation of employees has fallen sharply in real terms, slumping to 2012 levels: Interestingly, the Melbourne Institute last

The post More evidence of softening wage growth appeared first on MacroBusiness.

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MacroBusiness Monday, March 20, 2023 - 09:20 Source

US regional banks are not stabilising: Partly it is the bank run. But it is also this: Upheaval across the global banking sector – from Silicon Valley to Zurich – has set alarm bells ringing on the stability of the global financial system and where the next area of weakness will emerge. Could commercial property,

The post How US financial crisis contagion reaches Australia appeared first on MacroBusiness.

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John Quiggin Monday, March 20, 2023 - 09:01 Source

A new sandpit for long side discussions, conspiracy theories, idees fixes and so on.

To be clear, the sandpit is for regular commenters to pursue points that distract from regular discussion, including conspiracy-theoretic takes on the issues at hand. It’s not meant as a forum for visiting conspiracy theorists, or trolls posing as such.

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John Quiggin Monday, March 20, 2023 - 09:00 Source

Another Message Board

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

I’ve moved my irregular email news from Mailchimp to Substack. You can read it here. You can also follow me on Mastodon here

I’m also trying out Substack as a blogging platform. For the moment, I’ll post both at this blog and on Substack.

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MacroBusiness Monday, March 20, 2023 - 09:00 Source

Plenty of sleepless weekends for regulators these days. UBS Group AG agreed to buy Credit Suisse Group AG in a historic, government-brokered deal aimed at containing a crisis of confidence that had started to spread across global financial markets. The Swiss bank is paying 3 billion francs ($3.25 billion) for its rival in an all-share

The post Australian dollar leaps on Credit Suisse rescue appeared first on MacroBusiness.

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MacroBusiness Monday, March 20, 2023 - 00:10 Source

Last week’s Senate committee into Housing Australia Future Fund heard testimony from the housing industry warning of a worsening housing crisis amid mass chronic property shortages and skyrocketing costs. Chief Executive of the Property Council of Australia, Mike Zorbas, told the committee that Australia is running “160,000 homes behind the national starting line over the

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MacroBusiness Monday, March 20, 2023 - 00:05 Source

DXY fell and EUR rose Friday night: AUD popped: Oil is beginning to price global recession and gold a new GFC: Dirt did better: Miners held: EM stocks too: Junk is bleeding out slowly: Treasuries were bid bigly: Stocks fell anyway: Credit Agricole wraps us up: The SVB and Signature Bank failures as well as

The post Australian dollar boom, global bust does not compute appeared first on MacroBusiness.

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MacroBusiness Monday, March 20, 2023 - 00:01 Source

Global macro / Markets / Investing: SVB execs sold millions of their company stock in lead up to collapse, federal disclosures show – ABC Younger people in wealthier countries no longer feel that having children is fulfilling – Irish Times Silicon Valley Bank parent, CEO, CFO are sued by shareholders for fraud – Reuters HSBC

The post Links 20 March 2023 appeared first on MacroBusiness.

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John Quiggin Sunday, March 19, 2023 - 20:20 Source

The AUKUS subs plan will cost Australia way more than that

That’s the headline for my latest piece in The Conversation . Using defense procurement as a job creation policy is a really bad idea

Australian governments have a long and generally dismal history of using defence procurement, and particularly naval procurement, as a form of industry policy.

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Your Democracy Sunday, March 19, 2023 - 17:33 Source

For three years now, the debate over the origins of the coronavirus pandemic has ping-ponged between two big ideas: that SARS-CoV-2 spilled into human populations directly from a wild-animal source, and that the pathogen leaked from a lab.

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AustralianPolitics.com Sunday, March 19, 2023 - 17:04 Source

My audio archive contains broadcasts relating to current events, politics and elections. It includes speeches, interviews, press conferences, election night broadcasts and myriad radio programs dating back to 1972. As of today, my finalised audio collection consists of 1.23 terabytes of 64,476 separate items. These are all labelled and sorted into 3,150 yearly, monthly and […]

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The Australian Independent Media Network Sunday, March 19, 2023 - 13:21 Source

When Australia – vassal be thy name – assumed responsibilities for not only throwing money at both US and British shipbuilders, lending up territory and naval facilities for war like a gambling drunk, and essentially asking its officials to commit seppuku for the Imperium, another task was given. While the ditzy and dunderheaded wonders in…

The post Spent Matters: The AUKUS Nuclear Waste Problem appeared first on The AIM Network.

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