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Renew Economy Tuesday, June 25, 2024 - 05:53 Source
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MacroBusiness Tuesday, June 25, 2024 - 00:05 Source

Reserve Bank of Australia (RBA) statistics show that Australian housing values have doubled relative to household incomes over the past 30 years: This doubling in valuations has arisen despite the growing prevalence of double-income households. Last week, satirical Twitter (X) user The Reserve Bank of Property posted the below video from the 1960s showing Australians

The post Remember when Australian housing was cheap? appeared first on MacroBusiness.

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John Quiggin Monday, June 24, 2024 - 20:30 Source

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

I’m now using Substack as a blogging platform, and for my monthly email newsletter. For the moment, I’ll post both at this blog and on Substack. You can also follow me on Mastodon here.

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The Australian Independent Media Network Monday, June 24, 2024 - 20:27 Source

By Bert Hetebry I am a poor wayfaring stranger travelling through this world of woe but there’s no sickness, toil or danger in that bright land to which I go. (Natalie Merchant). Nina Simone was asked what freedom was in an interview in 1968, I had forgotten about that but a video clip of that…

The post In search of freedom appeared first on The AIM Network.

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Your Democracy Monday, June 24, 2024 - 18:05 Source

French President Emmanuel Macron will remain in power “whatever the results” of the snap parliamentary elections will be, Prime Minister Gabriel Attal has said. Macron dissolved the National Assembly and announced a new vote for France’s lower house of parliament two weeks ago.

The move was taken in response to Macron’s Renaissance Party suffering a crushing defeat in the EU parliamentary elections as the right-wing National Rally (RN) party doubled its vote.

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MacroBusiness Monday, June 24, 2024 - 16:30 Source

A very mixed start to the new trading week here in Asia after an equally hesitant performance on Wall Street from Friday night in the absence of any economic events. The USD remains quite strong against all the majors, save Swiss Franc with the Australian dollar barely holding on just above the 66 cent level.

The post Macro Afternoon appeared first on MacroBusiness.

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THE BLOT REPORT Monday, June 24, 2024 - 15:13 Source

When we moved into our current house, some many years ago, we were a couple with two children aged 6 and 3. The young couple who bought the house are in the same boat we were in, some 30+ years ago; they have two small children of 5 and 3. I hope they enjoy their life here as much as we enjoyed ours.

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Renew Economy Monday, June 24, 2024 - 14:41 Source
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Renew Economy Monday, June 24, 2024 - 14:14 Source
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MacroBusiness Monday, June 24, 2024 - 14:00 Source

New Zealand’s economy may have emerged from recession in Q1, courtesy of headline GDP growth of 0.2%. However, this does not mean that the economy is healthy, with real per capita GDP falling for six consecutive quarters to be down 4.3% from the late 2022 peak. That represents a larger decline than the 4.2% per

The post Reserve Bank hammered from all sides appeared first on MacroBusiness.

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MacroBusiness Monday, June 24, 2024 - 13:30 Source

This is outrageous drivel: Japanese energy companies are on-selling surplus Australian gas to allies in South-East Asia to shore up its influence in the region against China while securing its economic future as an energy trader. Japanese power giants JERA, Mitsubishi and Tokyo Gas have stepped up gas purchases since 2021 to on-sell 38 million

The post China not Japan rorting Aussie gas appeared first on MacroBusiness.

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Cheeseburger Gothic Monday, June 24, 2024 - 13:18 Source

The very first writing machine I ever bought myself was a Sharp Intelliwriter 2000. It had 4K of memory, which I spent nearly $1000 bulking out to 16 K. It also had a tiny, tiny screen. I think maybe 64 characters at most. Enough for maybe half a sentence - if you kept your sentences shorter than this one.

It was incredibly limited but still a step up from the electric typewriter I’d been using. The very first piece I was ever paid for, I wrote on that thing. The next couple as well, before I ploughed the money earned into a PC and a dot matrix printer.

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MacroBusiness Monday, June 24, 2024 - 13:00 Source

The Saturday Paper has a classic story: Former prime minister Scott Morrison is positioning himself to serve the Albanese government as an informal envoy to Donald Trump if the American wins the White House in November. With Australia’s current ambassador to Washington, Kevin Rudd, spearheading Canberra’s meticulous planning for a possible second Trump administration, Morrison

The post ScoMo returns as Rudd’s Trump card appeared first on MacroBusiness.

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Renew Economy Monday, June 24, 2024 - 12:52 Source
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MacroBusiness Monday, June 24, 2024 - 12:30 Source

Earlier this year, the Committee for Economic Development of Australia (CEDA) presented an analysis of the latest Census showing that Australia’s so-called skilled migrants are chronically underemployed and underpaid. “Recent migrants earn significantly less than Australian-born workers, and this has worsened over time”, CEDA senior economist, Andrew Barker said. “Many still work in jobs beneath

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The Australian Independent Media Network Monday, June 24, 2024 - 12:30 Source

In his seminal work on modern slavery, Kevin Bales does away with certain, antiquated concepts. In its insidious, older form, one focused on the concept of natal alienation, slaves were chattels and assets, outrightly owned. Each slave system was distinct and protean, if marked by certain universal features. The universal feature of ownership, at least…

The post Victory for the Disposables: The Sentencing of the Hindujas appeared first on The AIM Network.

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Renew Economy Monday, June 24, 2024 - 12:28 Source
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MacroBusiness Monday, June 24, 2024 - 12:00 Source

For a decade, MB has fought to fix this from behind the keyboard, as well as by offering direct advice to policymakers. We have had some notable successes inspiring movements from within the parliament but the East Coast gas export cartel has proven to be too strong. Now its toxic fruit is ripening: The Australian

The post Energy superidiot unable to make explosives appeared first on MacroBusiness.

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MacroBusiness Monday, June 24, 2024 - 11:30 Source

Analysis by investment and advisory group Jarden Australia shows that purchasing an Australian home has increasingly become a multigenerational affair. Jarden estimates that around 15% of borrowers are receiving an average of $92,000 from parents. “If we assume the majority are first-home buyers, it would imply about 75% of first-home buyers were receiving some form

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Your Democracy Monday, June 24, 2024 - 11:27 Source

Ho hum, the US has just committed itself to another ‘forever war.’ Its faithful obedient Western allies, like puppies wagging their tails, have fallen in behind. One would think they would tire, or at least learn lessons from, the game. Seemingly not.

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The Tally Room Monday, June 24, 2024 - 11:03 Source

Today is two months out from the Northern Territory election on August 24, so I thought it was about time to release the election guide for everyone to read.

You can find the guide here. There’s profiles for all 25 electorates, with results tables and maps, candidate lists (a constant work in progress) and a comments section to discuss each seat.

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MacroBusiness Monday, June 24, 2024 - 11:00 Source

BofA guru Michael Hartnett is back to bonds. Zeitgeist I: “With your FMS hard landing probability downto5%, aren’t you kinda meant to buy the long bond here.” Zeitgeist II: “My biggest worry is a sweep in the US election & a Liz Truss moment.” Zeitgeist III: see page 2 for London/Frankfurt client feedback. The Kids

The post Hartnett: Buy bonds appeared first on MacroBusiness.

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Cheeseburger Gothic Monday, June 24, 2024 - 10:37 Source

Related news, I was shocked to discover America had made it to the final eight of T20 Cricket World Cup.

So too were the teams they beat along the way. But, in a grudge match coming since 1770, England bundled them out of the comp.

There is only this left to be noted.

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MacroBusiness Monday, June 24, 2024 - 10:30 Source

Ain’t no green shoots here. Just more death. New house sales are dead and prices for old in free fall: Despite gutted mortgage rates: The consumer is rooned as debt deflation takes over: Only export industry and roads to nowhere are growing: But the latter is in trouble: Nothing good here for commodities.

The post Chinese property drowns appeared first on MacroBusiness.

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Your Democracy Monday, June 24, 2024 - 10:17 Source

Daniel Everett Hale killed lots of innocent people. He went to jail, not for killing people – he was paid to do that by the US government – but for revealing the truth behind it. Recently released, he has an astonishing story to tell.

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MacroBusiness Monday, June 24, 2024 - 10:00 Source

The Market Ear with positioning leads us off.  An elevated amount of anxiety For a year where the biggest market in the world (S&P) has hit its +30th all time highs… and 6 of the 10 biggest stocks in the US hit individual all time highs….there is an elevated amount of anxiety. In some respect

The post Risks to the bubbling stock market appeared first on MacroBusiness.

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xkcd.com Monday, June 24, 2024 - 10:00 Source

We're right under the flight path for the scheduled orbital launch, but don't worry--it's too cold out for the rockets to operate safely, so I'm sure they'll postpone.

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MacroBusiness Monday, June 24, 2024 - 09:30 Source

Canberra cowards continue to destroy Australia’s energy and economic future as the gas and shock rages on: Dragging electricity along with it: The renewables versus nuclear smokescreen hasn’t captured a few good men: Australia Institute principal advisor Matt Ogge said regulator fears of a shortage were “utterly absurd” given up to two-thirds of gas produced

The post A few good men condemn gas disaster appeared first on MacroBusiness.

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Renew Economy Monday, June 24, 2024 - 09:06 Source
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MacroBusiness Monday, June 24, 2024 - 09:00 Source

Wall Street ended the week on a very meek note after a series of record highs, with European shares also falling back as the lack of confidence across risk markets widens. A slew of flash PMI surveys across both sides of the Atlantic were better than expected, with the USD still rising against everything except

The post Macro Morning appeared first on MacroBusiness.

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