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MacroBusiness Tuesday, September 20, 2022 - 17:00 Source

Asian stocks have bounced back across the board with the return of Japanese markets and a more upbeat Wall Street overnight helping improve risk sentiment. The USD remains super strong against the major currency pairs although Euro is trying to push higher above parity while the Australian dollar is still stuck around the 67 cent

The post Macro Afternoon appeared first on MacroBusiness.

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Renew Economy Tuesday, September 20, 2022 - 14:58 Source

berrybank wind farm Victoria Naturgy GPG

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MacroBusiness Tuesday, September 20, 2022 - 14:00 Source

Australia is the world’s biggest LNG exporter at the same time as East Coast domestic gas supplies are experiencing an acute shortage and East Coast gas prices have soared to nosebleed levels: Currently, East Coast living standards are going backwards because, unlike in Western Australia, there is no reservation of gas for domestic use. 71%

The post China doesn’t need Aussie gas. So, stop exporting it. appeared first on MacroBusiness.

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Renew Economy Tuesday, September 20, 2022 - 13:35 Source

Chichester Solar Farm Alinta Fortescue

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The Australian Independent Media Network Tuesday, September 20, 2022 - 13:09 Source

Is it time for us Roundheads to arise? Surely our interminable fawning over a rich, entitled, and generally fucked-up royal family is way past the used by date. Stan Grant’s Indigenous Rage about the legacies of Empire far outweighs my annoyance at the silent compliance of the Australian people over issues such as the Uluru…

The post Roundheads Arise! appeared first on The AIM Network.

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MacroBusiness Tuesday, September 20, 2022 - 13:00 Source

The Guardian is onto a very important issue today: The housing crisis, cost-of-living pressures and language barriers are prompting university students to turn to “contract cheating”, where bespoke essays and assignments can be bought online, experts say. Cheating websites advertise heavily on social media, target Australian students and promise “ghost writing” work that will not

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MacroBusiness Tuesday, September 20, 2022 - 12:30 Source

From the excellent Gareth Aird at CBA today.  We forecast GDP growth to slow to 2.3%/yr at Q4 22 and moderate further to 1.5%/yr at Q4 23.  A material slowdown in household consumption sits at the heart of our forecasts for the economy to grow well below trend from here.  A quarterly

The post CBA: Rate cuts needed to avert recession appeared first on MacroBusiness.

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Renew Economy Tuesday, September 20, 2022 - 12:10 Source

Leader of the Opposition Anthony Albanese after making his budget reply speech.</body></html>

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MacroBusiness Tuesday, September 20, 2022 - 12:00 Source

Peter Zeihan with his latest.

The post Will Mad Vlad use nukes? appeared first on MacroBusiness.

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Renew Economy Tuesday, September 20, 2022 - 11:58 Source

Tesla home battery

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The Australian Independent Media Network Tuesday, September 20, 2022 - 11:44 Source

When it was revealed that former Australian Prime Minister Scott Morrison had not only shown contempt for his own government in secretly appointing himself, via the Governor-General’s approval, to five portfolios, the depths of deception seemed to be boundless. His tenure had already been marked by a spectacular, habitual tendency to conceal matters. What else…

The post “I Do Not Think I Know”: Scott Morrison’s Submarine Deception appeared first on The AIM Network.

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MacroBusiness Tuesday, September 20, 2022 - 11:40 Source

My second favourite Wall Street bear is still making so much sense. Michale Wilson at Morgan Stanley. P and E both still too high.  As the evidence builds around our more bearish earnings outlook, the stock market has traded lower again. While w think there is still a long way to go before reality is

The post Another bear growls appeared first on MacroBusiness.

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MacroBusiness Tuesday, September 20, 2022 - 11:20 Source

During this year’s federal election campaign, Anthony Albanese promised to inject $2.2 billion into the Victorian Labor Government’s Suburban Rail Loop (SRL). Last month, the Victorian Parliamentary Budget Office (PBO) projected the cost of building the SRL had doubled to $125 billion, with another $75 billion projected for operating expenses: Initial projections when the project

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MacroBusiness Tuesday, September 20, 2022 - 11:00 Source

I love the smell of burning McCrann in the morning: Please. Enough already. Can we stop the utterly unhinged hysteria over supposedly catastrophically plunging property prices? Can we also stop with the associated hysteria over the Reserve Bank’s interest rate increases – so far, from all-but free money to only slightly less than all-but free

The post I love the smell of burning McCrann in the morning appeared first on MacroBusiness.

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MacroBusiness Tuesday, September 20, 2022 - 10:40 Source

Goldman has an update on the rapidly deteriorating Chinese fiscal circumstances. Note especially the harm being done to revenue from the property bust. This is the problem with the pro-cyclical economic system that develops over the lifetime of a major bubble. When it ends, it is as hard to keep aloft as it was easy

The post China financial crisis risks mushroom appeared first on MacroBusiness.

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MacroBusiness Tuesday, September 20, 2022 - 10:20 Source

The woke-washed Evil Gas Cartel (WEGC) is getting a dream run at the AFR: The three big east coast LNG producers are nearing a deal to satisfy the domestic market, meaning the Labor government will not have to use a “last resort” trigger, says Samantha McCulloch, CEO of the Australian Petroleum Production and Exploration Association

The post Woke-washed Evil Gas Cartel smiles as gouge resumes appeared first on MacroBusiness.

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MacroBusiness Tuesday, September 20, 2022 - 10:20 Source

The ferrous market was still hanging around $100 like a bad smell on September 19, 2022: The latest MySteel data is better as mills restock depleted rebar inventories. On the demand side, property is a write-off, and developer funding is still frozen: Infrastructure is trying but failing to fill the gap: The energy crisis stoked

The post Daily iron ore price update (dreadful) appeared first on MacroBusiness.

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MacroBusiness Tuesday, September 20, 2022 - 09:40 Source

The Market Ear with the latest equity internals. I do not think that we have seen anything like the earnings downgrades that are needed. —————————————————– If it doesn’t want to go down.. Quick update of those powerful hammer candles in the making. Refinitiv Refinitiv VVIX remains unimpressed The VVIX is basically unchanged since mid Aug.

The post Another bear market rally? appeared first on MacroBusiness.

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MacroBusiness Tuesday, September 20, 2022 - 09:20 Source

Risk markets were able to lift slightly on Wall Street overnight, with European bourses still in hesitation mode and UK markets closed for the Queen’s funeral. The USD pulled back slightly as Euro lifted a little above parity, with a similar move higher for the Australian dollar while Pound Sterling is still on the ropes.

The post Macro Morning appeared first on MacroBusiness.

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Renew Economy Tuesday, September 20, 2022 - 09:18 Source

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The Australian Independent Media Network Tuesday, September 20, 2022 - 09:17 Source

The so-called Seven Deadly Sins are seven acts (or the associated emotions) that are said to bring about death. I hope to show here that, for all its medieval origins, the list still applies today, just with some refinement. The priesthood has also changed, from religion to monied interests (so not much really). I want…

The post Modernising The ‘Seven Deadly Sins’ appeared first on The AIM Network.

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MacroBusiness Tuesday, September 20, 2022 - 09:00 Source

While in Indonesia, where perhaps he should stay, Treasurer Jim “Chicken” Chalmers once again warned about himself: Chalmers said “deeply concerning global conditions” would provide the backdrop to next month’s budget. “Inflation stalks the world, with central banks responding decisively and bluntly; global growth is slowing; most risks are tilted to the downside,” he said.

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MacroBusiness Tuesday, September 20, 2022 - 09:00 Source

The worst treasurer in a century, Jim “Chicken” Chalmers, was at it again yesterday: Jim Chalmers says the nation’s fiscal deficit has seen a $50bn boost since March, driven by lower spending by the former government and strong commodities prices. Ahead of a full budget outcome next Wednesday, the Treasurer welcomed the “substantial” debt improvement

The post Chicken Chalmers’ cowardice costs Aussies TRILLIONS appeared first on MacroBusiness.

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Your Democracy Tuesday, September 20, 2022 - 08:49 Source

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The Australian Independent Media Network Tuesday, September 20, 2022 - 08:30 Source

By Graeme Taylor   As someone who voted “Yes” to a referendum in 1999, I’m pleased that it didn’t pass, not because I don’t think that Australia should become an independent country free from the British Crown, but because that last referendum would not have got us there. For a brief re-cap… Soon after the Mabo…

The post Talkin’ bout a Treaty Republic appeared first on The AIM Network.

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Your Democracy Tuesday, September 20, 2022 - 07:27 Source

Mr MARTINO VIGNERONI APOLOGISES ABOUT HIS PREVIOUS CARTOON IN WHICH HE MENTIONED 24 HOURS OF NO NEWS OTHER THAN THE QUEEN'S DEPARTURE TO HIGHER GROUND. HE MEANT TO SAY: 24 DAYS, 24 MONTHS AND 24 YEARS OF NO MENTION OF ANY OTHER NEWS BUT THE WHOLE ROYAL PAGEANTED FUNERAL ORGANISED SHEMOOZLE...

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Cheeseburger Gothic Tuesday, September 20, 2022 - 07:03 Source

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Your Democracy Tuesday, September 20, 2022 - 06:51 Source

Understanding the present-day events in Ukraine is impossible unless you study what happened in 1999 with Serbia. There is a Hegelian thread that runs directly from NATO’s ostensible “humanitarian intervention” to the Russian “special military operation,” linking Belgrade to Belgorod – and everything in-between.

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MacroBusiness Tuesday, September 20, 2022 - 00:10 Source

There has been a long history of international students cheating at Australia’s universities, often to get around having insufficient English-language proficiency. For example, in 2014 “functionally illiterate“ Chinese students were involved in an elaborate “ghost writing” scandal. The following year, ABC’s Four Corners’ “Degrees of deception” reported systemic cheating by international students, with one university

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MacroBusiness Tuesday, September 20, 2022 - 00:05 Source

According to CoreLogic records dating back to 1980, Australian dwelling values have never fallen by more than 11% across the combined capital cities. The current housing downturn is plotted below (in black) against prior episodes and shows that dwelling values are falling at their fastest pace on record, but are only around halfway to matching

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