For months, I have argued that Australia’s job market is far weaker than it appears. Government-funded non-market jobs, particularly the expansion of the NDIS, have artificially propped up the job market. The following chart from Justin Fabo at Antipodean Macro shows that government spending on “social protection”, which encompasses social security, welfare, and disability supports,
“Keeping perspective” is Michael Pascoe’s mantra. He writes that AI mania has not just warped perspective, it risks blowing up reality.
Over more decades than I care to count of market watching and reporting, I haven’t seen a time when there’s been more wide-spread conviction that we’re experiencing a dangerous bubble that’s sure to pop, yet the money keeps pouring in to inflate it.
What makes a life virtuous? The answer might seem simple: virtuous actions – actions that align with morality.
But life is more than doing. Frequently, we just think. We observe and spectate; meditate and contemplate. Life often unfolds in our heads.
WHEN I WAS SIXTEEN, a hundred years ago
CUM SEDECIM ANNOS ERIM, ante centum annos
I wondered about men having tits
De viris uberibus cogitabam
To feed the kids when women were hunting
Ad liberos pascendos cum feminae venantur
And women speaking in a manly voice
Et mulieribus voce virili loquentibus
Rather than this grinding pitchy
Potius quam hac stridula
Wednesday’s CPI shocker, which saw annual trimmed mean inflation jump by 1.0% and 3.0% year-on-year, has shut the door on near-term interest rate cuts. As illustrated below by Justin Fabo from Antipodean Macro, the Reserve Bank of Australia (RBA) was looking for trimmed mean inflation of 2.6% at the end of 2025. To achieve this
The post No more rate cuts! appeared first on MacroBusiness.
Climate change is serious, but we’ve made great progress. We need to keep backing the breakthroughs that will help the world reach zero emissions.
But we can’t cut funding for health and development—programs that help people stay resilient in the face of climate change—to do it.
Looks like everyone but the Fed is going to raise interest rates soon with the latest local inflation figures surging and cutting all chances of a cut from the RBA in its November meeting while it seems the BOJ is also likely to start raising rates going into 2026. Asian share markets are somewhat mixed
The post Macro Afternoon appeared first on MacroBusiness.
A recent examination of freedom of information (FOI) requests called into question the Albanese government’s commitment to transparency. The Centre for Public Integrity, an independent research institute, discovered that 24% of FOI requests were denied during Labor’s first term in office. In comparison, the proportion of applications denied fluctuated between 10% and 18% during the
