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Your Democracy Friday, February 2, 2024 - 09:33 Source

MAGA World Is About to Meet Taylor Swift’s Fandom. It Won’t Go Well.Swift expert Brian Donovan on why the political right is targeting a rich, heteronormative pop star.

Taylor Swift has many titles: cultural juggernaut; international pop star; billionaire businesswoman. She can now add MAGA conspiracy theory target to the list.

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MacroBusiness Friday, February 2, 2024 - 09:30 Source

The Westpac Red Book is out and has special significance this month as the household recession deepens.  The Westpac–Melbourne Institute Consumer Sentiment Index continues to hold around very weak levels, dipping 1.3% over the three months to January. At 81, the Index remains in deeply pessimistic territory. Cost-of-living pressures continue to dominate. The moderation in

The post The stone dead Aussie consumer appeared first on MacroBusiness.

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Renew Economy Friday, February 2, 2024 - 09:19 Source
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MacroBusiness Friday, February 2, 2024 - 09:00 Source

Another one-two punch of an interest rate meeting and US domestic economic print overnight saw bond yields and USD lower as the BOE met and did nothing while the latest ISM Manufacturing print was solid but unsurprising. Wall Street rebounded while Europe floundered and Asian futures are up slightly as a result.  The Australian dollar

The post Macro Morning appeared first on MacroBusiness.

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Your Democracy Friday, February 2, 2024 - 08:38 Source

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MacroBusiness Friday, February 2, 2024 - 08:30 Source

The Market Ear with the anatomy of a selloff. A bit too euphoric BofA writes: “…forward returns when sentiment hits euphoria are not appalling in a bull market. Especially when the market breadth is running at healthy levels, such as today’s.” BofA Finally SPX starting to pay attention to VIX finally. SPX vs VIX inverted.

The post BTFD appeared first on MacroBusiness.

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Renew Economy Friday, February 2, 2024 - 08:01 Source
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MacroBusiness Friday, February 2, 2024 - 08:00 Source

Bad loans are everywhere: China is embarking on its biggest consolidation in the banking industry by merging hundreds of rural lenders into regional behemoths amid growing signs of financial stress. After engineering mergers of rural cooperatives and rural commercial banks in at least seven provinces since 2022, policymakers pinpointed tackling risks at the $6.7 trillion

The post Chinese debt-deflation deepens appeared first on MacroBusiness.

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MacroBusiness Friday, February 2, 2024 - 07:08 Source

DXY fell: AUD dumped then pumped: North Asia helped: Oil slumped on Gaza peace hopes: Metals followed: Miners meh: EM meh: Junk meh: Treasuries do not believe Jay Powell hawkishness: Which lifted stocks: US data was decent, with the ISM and construction spending printing above expectations: But it should still not lift DXY. The market

The post Australian dollar calls the Fed’s bluff appeared first on MacroBusiness.

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Your Democracy Friday, February 2, 2024 - 06:47 Source

A crowd of furious farmers picketed the EU Parliament building in Brussels on Thursday to protest environmental regulations and the threat to their livelihoods posed by cheap Ukrainian imports. The protesters hurled stones, eggs, and abuse at the bureaucrats behind police lines.

Convoys of tractors began streaming into Brussels on Wednesday night, and by Thursday morning the streets of the Belgian capital were blockaded by around 1,300 vehicles, according to a police estimate.

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MacroBusiness Friday, February 2, 2024 - 00:05 Source

The forward-looking indicators for Australian housing construction continue to worsen, pointing to worsening housing shortages ahead. The latest data from the Australian Bureau of Statistics (ABS) on dwelling approvals, commencements, and completions shows that each indicator is tracking around decade lows at the same time as Australia’s population is growing at an unprecedented pace: Loans

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Your Democracy Thursday, February 1, 2024 - 19:53 Source

Ukrainian President Vladimir Zelensky has called on the German government to abandon its policy of financially supporting Ukrainian refugees on its territory and divert the cash to Kiev instead. The scheme would make aid mechanisms more transparent, he argued in an interview with the public German broadcaster ARD over the weekend.

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The Australian Independent Media Network Thursday, February 1, 2024 - 18:05 Source

I’ve been thinking about empathy lately. You know, empathy. That capacity to put yourself in someone else’s shows and wonder how they can possibly walk with heels that high. I’ve decided that there’s a distinct lack of empathy from some politicians and it’s this lack from the Coalition that’s one of the possible reasons why…

The post Empathy And The Unfortunate Few Who Own Your Home… appeared first on The AIM Network.

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Renew Economy Thursday, February 1, 2024 - 17:17 Source
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MacroBusiness Thursday, February 1, 2024 - 17:00 Source

Asian share markets are reacting to the overnight moves on Wall Street and the latest FOMC meeting with rate cut expectations dampening the mood. The USD is quite mixed as a result although the Australian dollar is falling as domestic rate cut expectations hold true going into the RBA February meeting. Oil prices remain volatile

The post Macro Afternoon appeared first on MacroBusiness.

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Renew Economy Thursday, February 1, 2024 - 16:01 Source
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Renew Economy Thursday, February 1, 2024 - 16:00 Source
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Prosper Australia Thursday, February 1, 2024 - 15:52 Source

Tweaking individual policies will not deliver the change Australia needs: we must capture the consensus and commit to reforming our tax system away from earned and onto unearned income.

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Renew Economy Thursday, February 1, 2024 - 15:43 Source
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Renew Economy Thursday, February 1, 2024 - 15:32 Source
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Renew Economy Thursday, February 1, 2024 - 14:53 Source
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MacroBusiness Thursday, February 1, 2024 - 13:30 Source

By Ross Elliott at The Pulse: “Rapid population growth – at rates above 2 percent, common in most developing countries today – acts as a brake on development. Up to a point, population growth can be accommodated… but the goal of development extends beyond accommodation of an even larger population; it is to improve people’s

The post The World Bank warned us on rapid population growth appeared first on MacroBusiness.

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MacroBusiness Thursday, February 1, 2024 - 13:00 Source

Not all stock market bubbles are created equal. Some have a kernel or truth that enables a change in technology, finance or another economic segment to accelerate dramatically. Although the inflated prices cause some economic distortion, they also dramatically accelerate whatever breakthrough change is occurring. One such bubble is that around AI unfolding in the

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Renew Economy Thursday, February 1, 2024 - 12:53 Source
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MacroBusiness Thursday, February 1, 2024 - 12:30 Source

CoreLogic and PropTrack have released their house price results for January with modest rises (CoreLogic) and flat results (PropTrack) recorded respectively. CoreLogic’s dwelling values index rose by 0.4% nationally in January, with mixed results recorded across the capital cities: Dwelling value growth decelerated sharply over the past quarter across Sydney and Melbourne: This dragged capital

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Renew Economy Thursday, February 1, 2024 - 12:25 Source
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MacroBusiness Thursday, February 1, 2024 - 12:05 Source

Inflation has fallen rapidly and is approaching central bank targets in many countries. Is inflation going to stop at 2-3%, or will there be an undershoot? Tune in to this week’s podcast as Nucleus Wealth’s Chief Investment Officer, Damien Klassen and Chief Strategist David Llewellyn-Smith give insight on 2024’s most important question. Can’t make it

The post MB Fund Podcast: Is Inflation Crashing? appeared first on MacroBusiness.

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Renew Economy Thursday, February 1, 2024 - 12:03 Source
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MacroBusiness Thursday, February 1, 2024 - 12:00 Source

I remain alert, not alarmed by the Middle East. But, there is an obvious risk case that gets worse, and Deutsche Bank has outlined it. Red Sea transits have collapsed: Longer shipping times means more containers needed: Oil is also simmering: However, it will take dramatic escalation to make it worse: I still think the

The post Middle East inflation builds appeared first on MacroBusiness.

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MacroBusiness Thursday, February 1, 2024 - 11:54 Source

Albo’s housing disaster gets worse by the day. Building approvals just crashed again. The December 2023 seasonally adjusted estimate:  Total dwellings approved fell 9.5%, to 13,085. Private sector houses fell 0.5%, to 8,416, while private sector dwellings excluding houses fell 25.3%, to 4,354. Albo’s housing goals are so far underwater it’s not funny. Immigration must

The post Home building turns generational disaster appeared first on MacroBusiness.

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