Blogotariat

Oz Blog News Commentary
Renew Economy Tuesday, August 2, 2022 - 14:25 Source

sapphire wind farm

Read more Views: 37
MacroBusiness Tuesday, August 2, 2022 - 14:00 Source

New Zealand’s June house price results were a complete wipeout. For example, REINZ’s House Price Index, which is a preferred measure of the Reserve Bank, posted a sharp 5.4% fall over the June quarter, with all major urban districts declining in value. In a similar vein, the Trade Me property index registered a record a

The post New Zealand house prices continue to sink appeared first on MacroBusiness.

Read more Views: 36
MacroBusiness Tuesday, August 2, 2022 - 13:40 Source

Investment bank UBS has predicted that there will be 15% less people working in CBD offices each day than before the pandemic. It estimates that a decline in the number of people driving to the CBD for work will impact toll road operator Transurban’s proportional revenue by around $110 million compared to pre-pandemic levels, excluding

The post Transurban loses as work-from-home becomes ingrained appeared first on MacroBusiness.

Read more Views: 72
MacroBusiness Tuesday, August 2, 2022 - 13:20 Source

Academy Securities asks the question. I don’t think the Dems are stupid enough to abandon the One China policy so the wolf warriors are getting awfully overexcited. What has Happened: •China has issued harsh warnings regarding the prospect of House Speaker Pelosi visiting Taiwan as part of her Congressional Asia tour.•While not confirmed by the

The post The face that launched a thousand Dongfeng missiles appeared first on MacroBusiness.

Read more Views: 39
MacroBusiness Tuesday, August 2, 2022 - 13:16 Source

Grattan Insitute’s Tony Wood, a former gas executive at Origin Energy which is one member of the east coast gas cartel, today backflips to recommending aggressive domestic reservation AND super profits taxes: Under the Heads of Agreement between the government and the producers, the latter would then be required to offer their uncontracted gas to

Read more Views: 31
Renew Economy Tuesday, August 2, 2022 - 13:01 Source

Read more Views: 47
MacroBusiness Tuesday, August 2, 2022 - 13:00 Source

New data released today by the Australian Bureau of Statistics (ABS) shows that dwelling approvals fell by 0.7% in June to be down 17.2% year-on-year. The fall was driven by unit approvals, which fell 5.7%, whereas house approvals rose 1.2%. Over the year, houses approvals fell 22.0% whereas unit approvals fell 10.1%. The next chart,

The post Aussie dwelling approvals falling appeared first on MacroBusiness.

Read more Views: 25
MacroBusiness Tuesday, August 2, 2022 - 12:40 Source

The $0.221-per-litre fuel excise reduction is scheduled to end on 28 September. The Coalition stated in its pre-election Budget in March that the fuel excise cut had to be temporary due to its cost, with the Coalition also demanding budget repair from the new Albanese Government. Opposition Leader Peter Dutton is now urging Labor to

The post Contradictory Coalition wants fuel excise cut extended appeared first on MacroBusiness.

Read more Views: 24
MacroBusiness Tuesday, August 2, 2022 - 12:20 Source

Doggerel from Umair Ghori, Associate Professor, Bond University. AKA Professor Idiot: With the Australian Energy Market Operator (AEMO) warning consumers of huge price hikes ahead, further calls for the federal government to pull its so-called “gas trigger” seem inevitable. But that could be a very big mistake – leading to the type of trade dispute

The post Professor Idiot: Gas reservation “bad” appeared first on MacroBusiness.

Read more Views: 21
John Quiggin Tuesday, August 2, 2022 - 12:19 Source

Until now, I’ve always thought about mental health as the absence of mental illness, much as I have typically thought about the absence of physical illness. In both cases, health is the default state or unmarked category.

But as I have gone through the Covid pandemic, and become more pessimistic about the state of the world, I have reached the view that a better analogy is with physical fitness. That is, something that requires sustained effort to achieve and maintain, and is rarely fully achieved.

Read more Views: 36
MacroBusiness Tuesday, August 2, 2022 - 11:52 Source

The Australian mortgage market slumped in June after two consecutive rate hikes by the Reserve Bank of Australia (RBA). According to the Australian Bureau of Statistics (ABS), the total value of new mortgage commitments fell a seasonally adjusted 4.4% in June 2022 and was down 2.0% year-on-year: Owner-occupier commitments fell 3.3% in June, whereas investor

Read more Views: 35
MacroBusiness Tuesday, August 2, 2022 - 11:45 Source

Backward-looking earnings are fine. BofA: Better-than-feared 3% beat; guidance surprisingly positive279 S&P 500 companies comprising 71% of index earnings have reported. 2Q EPS is tracking a solid 3% beat at $56.87 vs. consensus $55.35, while 2H EPS has been revised down 2% since July 1. Overall, results were better than feared, especially with more above-consensus

The post Stock rally a dead cat bounce appeared first on MacroBusiness.

Read more Views: 34
Cheeseburger Gothic Tuesday, August 2, 2022 - 11:33 Source

OMG. I felt this story so much. Dude lost his favourite matchbox car, and found it, one the other side of the world, half a century later.

When the Ford Capri disappeared from the shed, Tim always blamed his brother Guy. Toys would go missing from time to time, and Tim assumed that Guy, an “entrepreneur” of sorts, had sold the car.

“I always blamed Guy. And then one day, I was up in my bedroom. And I saw this kid who lives in the next street. And he was in the garden shed and he was taking my toys. I was gutted.

Read more Views: 34
MacroBusiness Tuesday, August 2, 2022 - 11:30 Source

The ANZ-Roy Morgan consumer confidence index has been released, with the index bouncing 2.1% last week – the third consecutive weekly rise – on lower petrol prices: The main movements were as follows: Consumer confidence gained 2.1% last week, its third consecutive weekly increase. Among the mainland states, confidence improved in Queensland and SA, while

Read more Views: 32
MacroBusiness Tuesday, August 2, 2022 - 11:15 Source

One of the most revealing revelations in the ACCC’s superb gas report yesterday is how advanced is the cartel behaviour of the Curtis Island gas exporters: • The upstream market is highly concentrated and dominated by the three LNG exporters and their associates. In 2021, the three LNG exporters and their associates had influence over

The post Gas cartel colludes to hide collusion appeared first on MacroBusiness.

Read more Views: 39
MacroBusiness Tuesday, August 2, 2022 - 11:00 Source

After CoreLogic’s 5-city daily index recorded its biggest monthly decline in nearly 40 years, AMP Capital’s chief economist, Shane Oliver, entered full doomsday mode, tipping possible 4% monthly falls for Sydney: “The pace of decline is gathering speed, so it’s conceivable we could be seeing monthly declines of 4 per cent in a few months

The post The Kouk soothes as Aussie house prices tank appeared first on MacroBusiness.

Read more Views: 32
MacroBusiness Tuesday, August 2, 2022 - 10:40 Source

The ferrous complex flamed out on August 1, 2022: For damn good reason. Check out the latest Chinese steel PMI: Judging from the steel industry PMI surveyed and released by the China Federation of Steel and Logistics Professional Committee, July 2022 is 33.0%, down 3.2 percentage points from the previous month, and the operation of

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

Read more Views: 33
MacroBusiness Tuesday, August 2, 2022 - 10:20 Source

Missed this one yesterday. A big fall is inevitable from here: ANZ Australian Job Ads decreased 1.1% m/m in July. Even if labour demand growth is starting to ease, we don’t think this will translate immediately into rising underutilisation. In fact, we now forecast unemployment to fall below 3% by early-2023. @cfbirch @arindam_chky #ausecon pic.twitter.com/uiQ3RevUYj

The post ANZ job ads top out appeared first on MacroBusiness.

Read more Views: 29
Renew Economy Tuesday, August 2, 2022 - 10:11 Source

Read more Views: 28
MacroBusiness Tuesday, August 2, 2022 - 10:00 Source

The Melbourne Institute’s monthly inflation gauge rose by 1.2% in July. It’s headline inflation rate was 5.4%, while the Reserve Bank’s preferred measure of underlying inflation rose by 0.9% during the month to be 3.9% higher in the year to July. It was the highest rate of inflation recorded by the index in two decades.

The post July inflation gauge hits 20-year record appeared first on MacroBusiness.

Read more Views: 30
Renew Economy Tuesday, August 2, 2022 - 09:46 Source

Read more Views: 27
MacroBusiness Tuesday, August 2, 2022 - 09:40 Source

Pantheon with a nice note. Hoocoodnode? —————————————————————————————————– Reality Reasserts Itself in China, as the Reopening Rebound Fades China’s reopening boost is already fading, and although stimulus is coming through in the data, it doesn’t seem to be enough to offset the many headwinds plaguing China’s economy. We should still see an improvement in Q3, relative

The post China recovery ends in trade shock appeared first on MacroBusiness.

Read more Views: 27
MacroBusiness Tuesday, August 2, 2022 - 09:20 Source

DXY is still falling as EUR bounces: The AUD materially underperformed the DXY sag: Oil dumped: Dirt too: And miners: Plus all EM: Yields fell: But stocks did too: Westpac has the wrap: Event Wrap US ISM manufacturing survey at 52.8 was above estimates of 52.0 (prior 53.0). The details showed a sharp pullback in both

The post Australian dollar rally stalls appeared first on MacroBusiness.

Read more Views: 26
MacroBusiness Tuesday, August 2, 2022 - 09:00 Source

It is one of the great ironies of today’s hopelessly corrupted ideological soup. Those who cheerlead for “business” over “markets” are often the victims of their own useful idiocy. Nowhere is this more true than at the Australian Financial Review. For the past decade, the “Fin” has transformed from intellectual liberal democratic champion to dumbed

The post AFR gas cartel grovelling will destroy Nine’s profits appeared first on MacroBusiness.

Read more Views: 25
Your Democracy Tuesday, August 2, 2022 - 08:51 Source

The oft-repeated western claim of Russia’s isolation as a pariah state is starting to wear thin.

While the Trans-Atlantic community may loyally follow the directive to cut ties with Russia – despite the economic backlash on their own citizens – other nations, including most of Asia and Africa, don’t appear to be taking this call very seriously.

Read more Views: 39
MacroBusiness Tuesday, August 2, 2022 - 08:50 Source

The thing is, cartels look all tough on the outside. But, they are made up of soft caramel on the inside. When you call them out, they melt like Fantails in the hot sun. As the Albanese Government has steeled itself to call out these bullies in the past week, guess what? The local gas

The post Gas and power prices crash as cartel bullies panic appeared first on MacroBusiness.

Read more Views: 22
Cheeseburger Gothic Tuesday, August 2, 2022 - 08:22 Source

I remember when I used to stare at the expensive box sets of SG1, wishing I hadn’t become a freelance writer so I could afford to buy them. Now, of course, you just stream the thing.

But it’s kinda sobering to think it’s been a quarter century since the TV series spun up, or rather spun off the movie. As Inverse points out, it was a bold choice for the producers.

Read more Views: 34
Your Democracy Tuesday, August 2, 2022 - 08:21 Source

Are we being lied to about the origins of the pandemic?

Read more Views: 68
Renew Economy Tuesday, August 2, 2022 - 07:55 Source

Read more Views: 32
Your Democracy Tuesday, August 2, 2022 - 07:54 Source

The arrogance of power is especially ominous and despicable when a government leader risks huge numbers of lives in order to make a provocative move on the world’s geopolitical chessboard. House Speaker Nancy Pelosi’s plan to visit Taiwan is in that category. Thanks to her, the chances of a military confrontation between China and the United States have spiked upward. 

Read more Views: 32

Pages