Blogotariat

After a marathon debate, the House of Representatives on Wednesday morning passed the bill for the referendum for an Indigenous Voice to Parliament to be inserted into the Constitution.

The bill now goes to the Senate where it is assured of passage in June.

The final vote was 121 in favour and 25 against.

By Michelle Grattan

Journalist Kit Klarenberg, a UK citizen, was detained by British authorities and grilled on his political reporting and alleged ties with Russia, Grayzone reported on Wednesday.

Global Macro / Markets / Investing: Wealth Taxes Result in Rich People Fleeing, Turns Out – Reason Companies Push Prices Higher, Protecting Profits but Adding to Inflation – NY Times JPMorgan Builds Unit for World’s Richest Families in Wealth Bet. 23 Wall focuses on 700 families worth more than $4.5 trillion – Bloomberg Goldman Sachs

The post Links 1 June 2023 appeared first on MacroBusiness.

Nicholas Chevalier, Mount Arapiles and the Mitre Rock, 1863, National Gallery of Australia, Canberra           AUD/USD   EUR/USD   USD/JPY   GBP/USD WTI   Brent   Gold Australia 200   US S&P 500   UK 100   Japan 225   Evening Listening The Necks, In Session Sydney Opera House Portico Quartet Ensemble,

The post Macro Afternoon: 31 May 2023 appeared first on MacroBusiness.

In her recent National Press Club address following the release of the Migration Review, Home Affairs Minister Clare O’Neil declared that Labor was not delivering a ‘Big Australia’: “I’m not someone who advocates for a big Australia in this conversation. What’s really important to me is that we’ve got these big national problems facing our

The post Mad Albo’s Indian deluge pumps Giant Australia appeared first on MacroBusiness.

So far, Albo is sailing along in the polls like it is the good times: However, it isn’t the good times at all: There has now been a material 15-point drop in confidence since Albo was elected so much of this is on his watch. The history of consumer confidence around elections is inconsistent but

The post When will Albo be blamed for the trashed economy? appeared first on MacroBusiness.

CBA senior economist, Belinda Allen, did not mince words following Tuesday’s shock decline in dwelling approvals, saying that with “approvals falling at a time when population growth is soaring”, Australian “rents and home prices will continue to face upward pressure”. Allen described April’s dwelling approvals numbers as “very weak in the context of an already

The undertakings made by Australia regarding the AUKUS security pact promise to be monumental. Much of this is negative: increased militarisation on the home front; the co-opting of the university sector for war making industries and defence contractors; and the capitulation and total subordination of the Australian Defence Force to the Pentagon. There are also…

The post AUKUS, Congress and Cold Feet appeared first on The AIM Network.

A sharp divergence has arisen between mortgage growth and Australian dwelling values. On Wednesday, the Reserve Bank of Australia (RBA) released its mortgage credit growth data for April, which revealed that the value of outstanding mortgages grew by only 1.0% over the quarter, which is the equal lowest rate since October 2020: Owner-occupier mortgage credit

The post Mortgage growth busts as house prices boom appeared first on MacroBusiness.

Reserve Bank of Australia (RBA) governor Phil Lowe fronted Senate Estimates Committee this morning, where he warned that residential rental growth is expected to hit a three decade high, which will continue to stoke inflation. Lowe noted that the rental measure used in the Consumer Price Index (CPI) is currently growing by around 5%. However,

The post RBA: soaring rents to drive up inflation appeared first on MacroBusiness.