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MacroBusiness Tuesday, September 2, 2025 - 10:30 Source

Yesterday’s business indicators for tomorrow’s GDP were pretty awful. Key data items – Seasonally adjusted Mar 25 to Jun 25 (%) Jun 24 to Jun 25 (%) Sales of goods and services (chain volume measures) Manufacturing 0.2 -1.5 Wholesale trade 1.7 4.0 Inventories (chain volume measures) 0.1 0.8 Company gross operating profits -2.4 -3.3 Wages and

The post Aussie growth sags again appeared first on MacroBusiness.

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MacroBusiness Tuesday, September 2, 2025 - 10:00 Source

Yesterday, I reported on an outlandish plan reported in the Economic Times of India, the Hindustan Times, the Business Standard, and other Indian media outlets to have Indian workers/migrants build Australian homes. “Union Minister Piyush Goyal on Sunday said that India is in “deep negotiations” to create 1 million homes in Australia and has reached

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MacroBusiness Tuesday, September 2, 2025 - 09:30 Source

Good on David Pocok for taking it on, but he’s talking nonsense. Independent ACT senator David Pocock said on Monday the pressure on the environment and infrastructure motivated many marchers on the weekend, who felt there was “no plan” underpinning the migrant intake. Albo has a very clear plan. It’s just that it sucks for

The post Albo does have an immigration plan, and it is horrifying appeared first on MacroBusiness.

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MacroBusiness Tuesday, September 2, 2025 - 09:00 Source

Overnight saw some calm return to risk markets as the new trading week got underway without US involvement as they had a long weekend, although we still got more bullying of the Federal Reserve by the Trump regime. The perceived loss of independence and the blowout in US fiscal budget continues to put pressure on

The post Macro Morning appeared first on MacroBusiness.

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Renew Economy Tuesday, September 2, 2025 - 08:40 Source
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MacroBusiness Tuesday, September 2, 2025 - 08:00 Source

There are two primary reasons why the federal government loves ‘Big Australia’ immigration. First, immigration boosts the overall economy, as measured by headline GDP. Running a high immigration strategy enables the government to claim that it is an effective economic manager, even when per capita GDP growth is negative (as it currently is) and individual

The post Federal government drowns states in debt appeared first on MacroBusiness.

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Your Democracy Tuesday, September 2, 2025 - 07:56 Source

Cashiered former general Prabowo Subianto was elected president of Indonesia last year on a contradictory campaign image.

One side showed a soft, caring grandpa, friend of the wong kecil (wee folk). The flip side promoted an urbane statesman who’d lift his country’s international status as the world’s third-largest democracy.

 

Duncan Graham

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Your Democracy Tuesday, September 2, 2025 - 07:34 Source

ASIO deserves a good deal of credit for the cool and professional way in which it gathered and collected information to demonstrate to ministers its belief that members of Iran’s Revolutionary Guard had been behind at least two terrorist incidents in Melbourne and Sydney this year. Diplomats not alleged to have known of this have been tossed out as a result.

 

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MacroBusiness Tuesday, September 2, 2025 - 00:05 Source

It is clear that Australia is on the verge of another house price boom. As illustrated below by Alex Joiner from IFM Investors, both Cotality’s and PropTrack’s dwelling value series lifted strongly in August, continuing the run of strong results. “If you’re struggling to afford a home, the only worse news than the Cotality dwelling

The post Green light for house price boom appeared first on MacroBusiness.

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George Monbiot Monday, September 1, 2025 - 20:41 Source

Marvellous giants are returning to our shores, which means only one thing: pathetic inadequates using them as a test of manhood.

By George Monbiot, published in the Guardian, 28th August 2025

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Renew Economy Monday, September 1, 2025 - 20:20 Source
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MacroBusiness Monday, September 1, 2025 - 16:30 Source

Asian share markets are starting the trading week in very mixed fashion with Chinese stocks leading the way while Australian shares have pulled back with the absence of a lead from the US as they have a long weekend. The fallout from the Friday night decision that the Trump regime’s tariffs are actually illegal (do

The post Macro Afternoon appeared first on MacroBusiness.

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Renew Economy Monday, September 1, 2025 - 14:44 Source
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Renew Economy Monday, September 1, 2025 - 14:42 Source
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THE BLOT REPORT Monday, September 1, 2025 - 14:08 Source

Again and again the Australian Broadcasting Corporation (ABC) refers to what is being perpetrated by Israel on the people of Gaza as a ‘war’1-3. Everybody who has any understanding of what is going on knows this is a genocide.

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Renew Economy Monday, September 1, 2025 - 13:38 Source
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Renew Economy Monday, September 1, 2025 - 13:38 Source
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MacroBusiness Monday, September 1, 2025 - 13:30 Source

The Reserve Bank of New Zealand has slashed the official cash rate (OCR) by 2.5%, with another 0.5% of cuts expected by the end of 2026. As Justin Fabo of Antipodean Macro illustrates below, the decline in the OCR has cut the cost of new mortgages, which should have raised housing demand and driven up

The post Falling interest rates won’t save New Zealand house prices appeared first on MacroBusiness.

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MacroBusiness Monday, September 1, 2025 - 13:00 Source

Westpac with the forecast. • Australia’s recovery stalled over the first six months of 2025, with the economy expected to have grown 0.4%qtr in Q2 and just 1.3%yr in six-month annualised terms – way below the RBA’s updated trend estimate of +2.0%yr. • The extent of the pull back in public demand has surprised on

The post The recovery that never was fades away appeared first on MacroBusiness.

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Renew Economy Monday, September 1, 2025 - 12:55 Source
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Renew Economy Monday, September 1, 2025 - 12:54 Source
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Renew Economy Monday, September 1, 2025 - 12:49 Source
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MacroBusiness Monday, September 1, 2025 - 12:30 Source

This is amusing to watch. Australia’s largest east coast exporter, Australia Pacific LNG in which Origin Energy owns a 27.5 per cent stake, is arguing for sweeping reforms that would rewire the domestic market and impose stricter obligations on rival producers to prioritise local buyers. By contrast, Santos — operator of the Gladstone LNG project

The post Gas cartel turns cannibal appeared first on MacroBusiness.

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MacroBusiness Monday, September 1, 2025 - 12:00 Source

Australia is suffering from a chronic housing shortage because, for two decades, population demand via excessive immigration has run ahead of housing supply. The following chart from AMP chief economist Shane Oliver illustrates that after immigration more than doubled and annual population growth surged by 150,000, Australian housing became structurally undersupplied: Oliver estimated that Australia’s

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MacroBusiness Monday, September 1, 2025 - 11:30 Source

In the years since the pandemic first arrived on Australia’s shores in early 2020, the government has taken on a greater and greater role as a driver of economic activity. In the past five and a half years, day-to-day government spending as a proportion of GDP has risen by 4.2 percentage points above the pre-Covid

The post The hangover comes for the Aussie economy appeared first on MacroBusiness.

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MacroBusiness Monday, September 1, 2025 - 11:00 Source

This speaks for itself about Labor. Former Labor premiers Daniel Andrews and Bob Carr have accepted invitations to a Chinese military parade where Russian President Vladimir Putin and North Korean dictator Kim Jong-un are also guests of honour. Andrews and Carr were included in a list of names released by the Chinese foreign ministry of

The post Labor greybeards warmonger with Beijing appeared first on MacroBusiness.

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Your Democracy Monday, September 1, 2025 - 10:33 Source

Couch potatoes are usually white... white TATTERS*.... They hate the news outlet called BogNews** because it ranks of extreme right wing views which they hate... But the Whitetatters need to feel good about themselves AND BogNews always deliver the ingredients: the Chinese are bad, the Russians are nasty, Israel is good and Labor (Australian Political Party) is presently leading Australia to perdition. America is TOPS...

 

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MacroBusiness Monday, September 1, 2025 - 10:30 Source

The Australia Institute (TAI) used to talk sense on immigration. In 2015, TAI published an excellent research paper calling for a national debate on Australia’s future population: Since the Sydney Olympics in the year 2000 the population of Australia has grown by 25 per cent. In fact, since the Sydney Olympics, Australia’s population has grown

The post The Australia Institute gaslights on housing crisis appeared first on MacroBusiness.

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MacroBusiness Monday, September 1, 2025 - 10:00 Source

Sometimes, markets really are stupid. The last time steel was at these prices, iron ore was $10 lower. Traders are so busy buying iron ore on the basis of anti-involution policies that they have forgotten reality. Reuters. China will push to cut steel production between 2025 and 2026, according to an official document reviewed by

The post Iron ore surges as steel collapses appeared first on MacroBusiness.

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xkcd.com Monday, September 1, 2025 - 10:00 Source

Be careful fighting gravity. If you win, it's a long way down.

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