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MacroBusiness Thursday, September 12, 2024 - 08:30 Source

DXY is back for now: AUD is struggling to regain momentum: JPY is on the march: Oil is dead cat bouncing: Metals took the hint: Miners too: EM is so yesterday: Junk is stalled but fine: The curve flattened: Stocks are about as convincing as Jim Chalmers: US inflation came in stronger than expected but

The post Australian dollar buffeted by US inflation rip appeared first on MacroBusiness.

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MacroBusiness Thursday, September 12, 2024 - 08:00 Source

Recall that Labor’s first federal budget in October 2022 projected net overseas migration (NOM) of 470,000 over its first two years (FY 23 and 24): Instead, Labor delivered around one million NOM, more than double its projection: Labor MP Andrew Charlton recently stated that the government was in the process of “halving” net migration: “We’re

The post Labor’s immigration projections obliterated again appeared first on MacroBusiness.

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Your Democracy Thursday, September 12, 2024 - 07:39 Source

 

U.S. Vice President Kamala Harris won the debate. People being bombed in Gaza did not.

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Your Democracy Thursday, September 12, 2024 - 07:26 Source

It would be unfair to describe SBS television as the Australian media outlet most addicted to violence. It would be unfair unless every other outlet were scanned for their saturation with violence. At first sight however, it would seem extraordinary should any other television channel share the SBS preoccupation.

 

SBS television and ‘distressing material’    By Tony Smith

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MacroBusiness Thursday, September 12, 2024 - 07:00 Source

The issue of housing affordability was discussed at The Australian Financial Review Property Summit on Monday. The current nationwide median dwelling price is $790,000, but Eliza Owen from CoreLogic says a home would need to be priced around $500,000 to be affordable for someone on the median income. Owen told the summit that the pool

The post Australian house prices must fall appeared first on MacroBusiness.

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Your Democracy Thursday, September 12, 2024 - 05:37 Source

 

In recent days, Australia’s ‘”deputy Sheriff” role has been on full display again in our foreign policy. The prime minister’s extraordinary gaff at the Pacific Islands Leaders Forum, when caught out joshing along with US Deputy Secretary of State, Kurt Campbell, would have been noted not just among Pacific Island leaders, who would be entitled to feel belittled by Australia, but also across the region.

 

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Your Democracy Thursday, September 12, 2024 - 04:49 Source

 

 

As the evidence of a slowing Australian economy mounts, Governor Michele Bullock quietly told journalists the RBA wants Australians to be poorer. Nobody seemed to notice except Michael Pascoe

 

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Your Democracy Thursday, September 12, 2024 - 04:20 Source

We’ve lived through nearly a quarter century of intense polarization with no clear dominant political party. Unless last night’s presidential debate changes the race as dramatically as June 27’s did, we could see an election as close as 2000’s based on the current polling.

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MacroBusiness Thursday, September 12, 2024 - 00:05 Source

Data released by the Australian Bureau of Statistics (ABS) shows that the total value of homes nationwide rose to nearly $11 trillion in the June quarter, up $226 billion over the quarter: The average home value across the nation is now more than $970,000: If you have ever wondered why Australians are so “wealthy”, the

The post Australian housing is an $11 trillion productivity sink appeared first on MacroBusiness.

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Renew Economy Thursday, September 12, 2024 - 00:02 Source
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The Australian Independent Media Network Wednesday, September 11, 2024 - 20:20 Source

By Tess Lawrence Even before Taylor Swift’s post debate endorsement, one sensed that the Democrats have a presidential winner in Kamala Harris. Now the Taylor Swift, Kamala Harris, Tim Walz neon billboard signals a New Eras Tour de Force that will add more star power to the stellar juggernaut of Kamala’s Komet The only ticket…

The post Swift, Harris, Walz: New Eras Tour de Force appeared first on The AIM Network.

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George Monbiot Wednesday, September 11, 2024 - 18:29 Source

The weird, uncanny consistencies of far right politics.

By George Monbiot, published in the Guardian  6th September 2024

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Renew Economy Wednesday, September 11, 2024 - 18:07 Source
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Your Democracy Wednesday, September 11, 2024 - 17:59 Source

On Tuesday, the last US ambassador to the Soviet Union, Jack Matlock, said that the United States was engaged in an undeclared war with Russia and warned of the danger inherent in that. "It seems to me that it is extremely dangerous to attempt what is, in effect, an undeclared war against a nuclear armed power," Matlock warned.

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Renew Economy Wednesday, September 11, 2024 - 17:53 Source

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MacroBusiness Wednesday, September 11, 2024 - 16:30 Source

Asian share markets didn’t reflect the somewhat positive mood on Wall Street overnight as bond market volatility overshadowed, as all eyes look to tonight’s US CPI print. The USD remains very strong against all the majors except Yen, which had another sharp appreciation this afternoon, hurting Japanese stocks while the  Australian dollar continues its inability

The post Macro Afternoon appeared first on MacroBusiness.

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Renew Economy Wednesday, September 11, 2024 - 15:25 Source
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Renew Economy Wednesday, September 11, 2024 - 15:10 Source
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Renew Economy Wednesday, September 11, 2024 - 14:29 Source
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The Australian Independent Media Network Wednesday, September 11, 2024 - 14:18 Source

There’s something wrong with Herr Shikeltuber “Every instinct in this bloke’s body, every calculation, is about how he can divide the country. It shows this bloke’s not fit to run a bath, let alone Australia” (Jason Clare, Minister for Education). In a Trumpian world of normalised grotesqueries the Overton Window has skewed significantly rightward making…

The post I do not like him, Yam-He-Am appeared first on The AIM Network.

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Renew Economy Wednesday, September 11, 2024 - 14:01 Source
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MacroBusiness Wednesday, September 11, 2024 - 14:00 Source

By Gareth Aird, head of Australian economics at CBA: Key Points: Real consumer spending contracted in Q2 24 to be just 0.5% higher through the year (comfortably below the RBA’s forecast of 1.1%/yr). Real consumer spending per capita has fallen over the past eighteen months, primarily driven by a decline in discretionary spending. Private surveys

The post Household recession is driving inflation down appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 11, 2024 - 13:30 Source

The big one tonight is US inflation. Citi takes a look. Inflation data are quickly taking a backseat to labor market data in terms of relevance for Fed policy decisions, but with an inconclusive August employment report, August CPI data could be impactful for the probability of a 25bp or 50bp rate cut on September

The post Previewing US inflation appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 11, 2024 - 13:00 Source

Labor is all about cronies all of the time: Mining giant BHP has entered the political war between the resources sector and the Albanese government, defending its role in the Australian economy and claiming the amount of tax it paid last financial year was equal to half the entire annual funding of the public hospital

The post Labor picks wrong resources fight appeared first on MacroBusiness.

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Renew Economy Wednesday, September 11, 2024 - 12:48 Source
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Your Democracy Wednesday, September 11, 2024 - 12:30 Source

Last week, Vladimir Putin was speaking at the Russian-led Eastern Economic Forum in Vladivostok in Russia's Far East. He took part in a panel discussion with Malaysian Prime Minister Anwar Ibrahim and Chinese Vice President Han Zheng. During the panel, he also spoke about Europe’s irrational decision to decouple from Russian energy and that he’d be willing at any time to negotiate sending again gas through the one remaining Nord Stream pipeline that is still functional.

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MacroBusiness Wednesday, September 11, 2024 - 12:30 Source

It appears the Kamala Harris polling honeymoon is over: It is across the board: Betting markets have Trump ahead again: Swing states are too close to call: All a bit odd given what is happening to oil. In my view, the debate is all Harris’s to lose. Everybody knows Trump. She needs to nail it

The post Trump polling rallies into debate appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 11, 2024 - 12:00 Source

The hostility the Grattan Institute has shown VIC on energy policy bespeaks a deep hatred of the state. First, back in 2013, Grattan recommended that QLD be allowed to export all of its gas without domestic reservation. This was always going to be worst for VIC, given it is cold and needs heating, and we

The post Victoria should burn the Grattan Institute for warmth appeared first on MacroBusiness.

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Renew Economy Wednesday, September 11, 2024 - 11:55 Source
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The Australian Independent Media Network Wednesday, September 11, 2024 - 11:42 Source

Super Members Council Media Release The Coalition’s support for paying super on Commonwealth Parental Leave Pay is very welcome – but its bid to make it optional undermines the whole policy intent of boosting the retirement savings of new mums and is a concerning departure from bipartisan principles of universality and compulsion. The cash-out proposal…

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