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Your Democracy Tuesday, August 2, 2022 - 06:41 Source

As Hale exposed in the leaked documents, the more than one million entries in the TIDE database include about 21,000 U.S. citizens.

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MacroBusiness Tuesday, August 2, 2022 - 00:05 Source

In his weekend update, “Australasia’s #1 real estate coach and trainer”, Tom Panos, suggested house prices have already crashed 10% to 20% and is urging vendors to sell before the spring listings flood. Panos also accused the average economist of living in “La-La Land”, given they are relying on market pricing information that is already

The post Real estate guru: property prices have already crashed 10-20% appeared first on MacroBusiness.

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MacroBusiness Tuesday, August 2, 2022 - 00:03 Source

The national secretary of the Australian Workers Union (AWU), Dan Walton, penned an article in The AFR attacking Australia’s “human centipede” approach to immigration. Walton has called for employers who recruit migrant workers to be required to provide a traineeship or apprenticeship for a local worker in the same role, or to contribute to a

The post Unions attack ‘human centipede’ visa system appeared first on MacroBusiness.

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MacroBusiness Tuesday, August 2, 2022 - 00:01 Source

Global Macro / Markets / Investing: China’s Manufacturing PMI showing contraction at 49.0 – NY Times ‘Soon it will be unrecognisable’: total climate meltdown cannot be stopped, says expert – The Guardian How millennials made $5 trillion in 2 years. – Axios Individual Investors Ramp Up Bets on Tech Stocks – WSJ Global coal demand

The post Links 2 August 2022 appeared first on MacroBusiness.

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The Australian Independent Media Network Monday, August 1, 2022 - 18:50 Source

By 2353NM   Just as the government is trying to find its feet at times, the opposition Coalition is also in the same boat. The recent claims of ‘Airbus Albo’ made by the opposition along with their friends on ‘Sky after dark’ really haven’t jelled as an attack line when the government’s response, apparently backed up…

The post The Real Opposition appeared first on The AIM Network.

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MacroBusiness Monday, August 1, 2022 - 16:30 Source

Asian stocks are having a solid start to the trading week with Chinese stocks still the laggards but avoiding the steep falls from Friday’s session. The mixed earnings from Wall Street is not overshadowing risk sentiment as all risk markets keep lifting as the USD strength wanes slightly. Yen remains strong while the Australian dollar

The post Macro Afternoon appeared first on MacroBusiness.

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Cheeseburger Gothic Monday, August 1, 2022 - 16:01 Source

Man, I wish I’d known about this when I was writing the Zero Day series. Although I don’t know if anybody would have believed it.

This dude bought an old British army truck and turned it onto an off road capable tiny house. With a gun turret! (Which he might need since his itinerary took him through Ukraine and Russia).

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Renew Economy Monday, August 1, 2022 - 15:24 Source

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Renew Economy Monday, August 1, 2022 - 15:22 Source

rooftop solar Western Australia

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Renew Economy Monday, August 1, 2022 - 15:08 Source

NSW Treasurer Matt Kean hands down the 2022-2023 NSW State Budget in the Legislative Assembly at NSW Parliament House in Sydney (AAP Image/Dean Lewins)

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Renew Economy Monday, August 1, 2022 - 14:36 Source

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MacroBusiness Monday, August 1, 2022 - 14:30 Source

By Ross Elliott from The Pulse: “We are excited that we will see another million cars on our roads by 2041, such is the growth our region will experience.” Yeah, nah. You’re never going to hear a growth booster make that statement. But it’s true. Or at least highly likely. Another 1.5 million people, based

The post Welcome to ‘Big Australia’: one million more cars by 2041 appeared first on MacroBusiness.

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Renew Economy Monday, August 1, 2022 - 14:19 Source

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MacroBusiness Monday, August 1, 2022 - 14:00 Source

Roy Morgan has released its New Zealand consumer confidence survey for July. Confidence remained at recessionary levels, with households “understandably worried, with strong inflation eating into budgets, interest rates higher, house prices falling, and uncertainty ongoing”. Turning to the sub-indices, the majority of respondents expect to be worse-off next year: They expect the economy to

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MacroBusiness Monday, August 1, 2022 - 13:40 Source

Morgan Stanley bearing up on US banks. Especially GSIBs of which Australia has plenty. ————————————————————————————————————————————- The Coming Capital Crunch As macro strategists, digging deep into company earnings is outside our jurisdiction. We rely on our sector analysts for nuggets of information that could matter for fixed income markets. Insights from Betsy Graseck, our banks and consumer finance

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MacroBusiness Monday, August 1, 2022 - 13:14 Source

In the wake of the ACCC’s explosive report, Resources Minister Madeleine King has told gas producers that export controls will be in place by the start of 2023: In response, Minister King has announced that she is preparing to issue a notice of intent to make a determination to invoke the Australian Domestic Gas Security

The post Labor wraps finger around gas reservation trigger appeared first on MacroBusiness.

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MacroBusiness Monday, August 1, 2022 - 12:40 Source

Some nice charts on why the DXY bull market is not over from The Market Ear. ———————————————————————————————————————————————— Not a recipe for sustained USD weakness Softer yields in the presence of weak growth is not a recipe for sustained USD weakness JPM FX EUR: Lower for longer GS FX does not think the recent recovery in

The post US dollar bull market intact appeared first on MacroBusiness.

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MacroBusiness Monday, August 1, 2022 - 12:30 Source

In 2015, the newly elected Victorian Labor Government tore up the contract to build the East-West Link, with Premier Dan Andrews declaring “we will never again see a situation where a government, too embarrassed to submit a business case to Infrastructure Australia, lies, deceives and misleads all Victorians on infrastructure priorities”. Seven years on and

The post Suburban Rail Loop exposes Labor hypocrisy appeared first on MacroBusiness.

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MacroBusiness Monday, August 1, 2022 - 12:20 Source

In case you missed it, David-Llewellyn-Smith appeared on Sky News last night where he demolished the gas cartel’s fleecing of east coast Australians: Dave also gave a shorter interview yesterday on ABC news. ABC Business Editor, Ian Verrender, similarly unloaded on the cartel today: Our inflation problem largely is being driven by soaring energy costs

The post DLS demolishes gas cartel on Sky News appeared first on MacroBusiness.

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MacroBusiness Monday, August 1, 2022 - 12:00 Source

In mid June, the futures market forecast that the Reserve Bank of Australia (RBA) would hike the Official Cash Rate (OCR) to 3.8% by December and to 4.4% by May 2023: According to The AFR, markets have now slashed their forecasts, and are tipping the OCR to only peak at 3%: Curve Securities director Peter

The post Skittish markets slash Aussie interest rate forecasts appeared first on MacroBusiness.

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The Australian Independent Media Network Monday, August 1, 2022 - 11:54 Source

I’m no economist but neither am I a fool. When somebody tells me that inflation has taken off in Australia and that the cause is largely due to an escalation in the prices of goods and services driven by wage and salary increases and the costs of production I start to take interest. For a…

The post Inflation! Or is somebody having a lend of us? appeared first on The AIM Network.

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MacroBusiness Monday, August 1, 2022 - 11:40 Source

Last week, the regulator of Australia’s higher education institutions – the Tertiary Education Quality and Standards Agency (TEQSA) – sent universities a list of more than 2000 commercial cheating websites, where students pay for others to complete their work, of which almost 600 are specifically targeting Australian students. Over the weekend, the ABC ran a

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MacroBusiness Monday, August 1, 2022 - 11:20 Source

Fairfax’s Ross Gittins has taken direct aim at Australia’s captured economists, accusing them of forever kowtowing to the business lobby and shafting Australian workers in the process: Whenever inflation worsens, the economists’ accusing fingers point not to business but to the workers. No one ever says businesses should show more restraint, they do say the

The post Gittins: Aussie economists are pro-business flunkies appeared first on MacroBusiness.

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John Quiggin Monday, August 1, 2022 - 11:15 Source

A new sandpit for long side discussions, conspiracy theories, idees fixes and so on.

To be clear, the sandpit is for regular commenters to pursue points that distract from regular discussion, including conspiracy-theoretic takes on the issues at hand. It’s not meant as a forum for visiting conspiracy theorists, or trolls posing as such.

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John Quiggin Monday, August 1, 2022 - 11:14 Source

Another Message Board

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

I’ve moved my irregular email news from Mailchimp to Substack. You can read it here. You can also follow me on Twitter @JohnQuiggin

I’m also trying out Substack as a blogging platform. For the moment, I’ll post both at this blog and on Substack.

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MacroBusiness Monday, August 1, 2022 - 11:00 Source

Via China’s NBS. The reopening boom is already over with new orders cooked across the spectrum. ——————————————————————————————————————————————————————————- In July , the manufacturing purchasing managers’ index ( PMI ) was 49.0% , a decrease of 1.2 percentage points from the previous month, and was below the critical point, and the prosperity level of the manufacturing industry

The post China PMIs slump appeared first on MacroBusiness.

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Your Democracy Monday, August 1, 2022 - 10:43 Source

Global coal demand could reach 8 billion tons in 2022, matching a historic high set in 2013, and further growing in 2023, the International Energy Agency (IEA) said in a coal market update report published on Thursday.

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MacroBusiness Monday, August 1, 2022 - 10:40 Source

The short squeeze party is in full swing but don’t mistake that for a bull market, says the excellent Michael Hartnett at BofA: The Biggest Picture: inflation shock H2’21…rates shock H1’22…recession shock H2’22; once labor market turns recessionary (claims are up) bonds outperform stocks (Chart 2). Tale of the Tape: Aug 4th 2020 marked lowest

The post Bear market not over appeared first on MacroBusiness.

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MacroBusiness Monday, August 1, 2022 - 10:20 Source

I put it more down to relief from ScoMo but if the government does get energy right this will stick: Anthony Albanese has recorded the highest satisfaction rating for an incoming prime minister, delivering the Labor leader a commanding electoral footing on the back of a surge in popular support for the new government since

The post Albo to the moon! appeared first on MacroBusiness.

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Your Democracy Monday, August 1, 2022 - 10:18 Source

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