Blogotariat

Oz Blog News Commentary
MacroBusiness Monday, September 12, 2022 - 12:00 Source

The last thing Australia needs is another useless symbolic debate to disguise the wreckage of national interest policy. But that’s what we’re going to have after QEII dropped off the perch, even if Albo hoses it off: “He also has that [republic] task. The Labor Party’s position is clear [that we do want a debate

The post Let’s discuss the republic. Joining the US that is appeared first on MacroBusiness.

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Renew Economy Monday, September 12, 2022 - 11:33 Source

MG ZS EV

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MacroBusiness Monday, September 12, 2022 - 11:30 Source

Albert Edwards of Societe Generale with what readers will recognise if my own thesis for global recession. Ignore the Chinese credit impulse. The rebound is stuck in a liquidity trap, not circulating in the economy. ———————————————————— Bloomberg’s Wednesday Daily,“5 things to start your day” begins by highlighting the dollar’s surge. But it is the yen

The post Albert Edwards: China to take down the world appeared first on MacroBusiness.

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MacroBusiness Monday, September 12, 2022 - 11:00 Source

The $1 billion-a-year “golden ticket” visa scheme is set to be axed, under a review of the nation’s migration system. These ‘golden ticket’ visas confer an automatic right to permanent residency in Australia, and unlike other visa classes, people are not required to speak or learn English. While more than 7000 Chinese citizens have been

The post Golden visas gone, now axe parent visas appeared first on MacroBusiness.

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THE BLOT REPORT Monday, September 12, 2022 - 10:41 Source

At the risk of boring people to tears, this is a short exposition of my time in hospital after my surgery. I cannot remember much of the first few hours after the surgery which I was told only lasted about two hours. One of the first memories I have is of me having a lunch of sandwiches (I think they were tuna, lettuce and tomato). Some time later, the physiotherapist arrived with a few nurses to try to get me to stand up. It was excruciating to get my legs off the bed and without the nurses lifting them would have been impossible. When my feet were on the floor, they placed an armrest walking frame in front of me and told me to stand up.

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MacroBusiness Monday, September 12, 2022 - 10:30 Source

Following Reserve Bank of Australia (RBA) governor Phil Lowe’s speech on Thursday to the Anika Foundation, The AFR and The Australian was quick to scaremonger about a possible wage-price spiral driving up inflation (examples below): The scaremongering was in response to the following comment by Phil Lowe [my emphasis]: Wages growth has picked up, but

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Renew Economy Monday, September 12, 2022 - 10:17 Source

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MacroBusiness Monday, September 12, 2022 - 10:00 Source

Economist Callam Pickering tweeted the following in response to Thursday’s June quarter national accounts release from the Australian Bureau of Statistics: As shown clearly above, Australia’s per capita GDP growth trended sharply lower from the early-2000s in concert with the huge lift in Australia’s immigration intake – a fact acknowledged by Anthony Fox: Leading immigration

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xkcd.com Monday, September 12, 2022 - 10:00 Source

It's okay, we can just feed the one-pixel image into an AI upscaler and recover the original image, or at least one that's just as cool.

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Your Democracy Monday, September 12, 2022 - 09:59 Source

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MacroBusiness Monday, September 12, 2022 - 09:40 Source

The ferrous complex soared Friday as markets pivot on whatever: Last week’s CISA data showed a lift in steel output that is pretty much irrelevant. I expect this year’s H2 output to follow past year’s, only worse: The reason why is that the property bust is showing now signs of slowing. The latest 30-city sales

The post Daily iron ore price update (Japan 1989) appeared first on MacroBusiness.

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Cheeseburger Gothic Monday, September 12, 2022 - 09:21 Source

This Men’s Health bit really spoke to me about quietly quitting my unwatched stack of must-see TV.

Daniel D’Addario, a chief TV critic for Variety, about all this—and he handed me the keys to freedom. “There’s so much TV that no one show is going to be a must-watch or must-discuss,” he says.

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MacroBusiness Monday, September 12, 2022 - 09:20 Source

Pantheon with the note. The recovery in Chinese credit has stalled with the structural property adjustment. Inflation is about to turn deep deflation. In one line: No sign of China’s liquidity trap easing up M1 growth slowed to 6.1% in August, from 6.7% in July.  Consensus was 6.9%. M2 growth rose to 12.2% y/y in

The post Chinese liquidity trap snaps shut appeared first on MacroBusiness.

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Cheeseburger Gothic Monday, September 12, 2022 - 09:14 Source

I keep forgetting I’m supposed to be in Canberra for Conflux at the end of the month, so I’m putting this here to remind me. Or so someone else can remind me.

I think I’m supposed to give the keynote or something. On time travel. I think.

Sheesh. I need a secretary.

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Renew Economy Monday, September 12, 2022 - 09:02 Source

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MacroBusiness Monday, September 12, 2022 - 09:00 Source

Not many direct market catalysts to push risk down on Friday night, with some hawkish Fed comments not able to subside the rebound on Wall Street, with a strong finish on European stock markets too as the Ukrainian counter-offensive gathers pace. The USD was the largest casaulty, with the USD Index down over 0.6% with

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Monday, September 12, 2022 - 09:00 Source

Sometimes when you take a break things can improve. Other times, they get worse. The last week falls decisively into the latter category. In his speech last week, Captain Phil Lowe of the RBA spent all his time explaining how it was that it missed the historic inflation surge this year: One starting point for

The post After Albo, has the evil gas cartel captured the RBA? appeared first on MacroBusiness.

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Your Democracy Monday, September 12, 2022 - 08:28 Source

Queen of Chaos: Her record, and her own words, show us exactly what we can expect from a Hillary Clinton presidency, write Jeremy Kuzmarov and Steve Brown.

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Your Democracy Monday, September 12, 2022 - 08:03 Source

As energy bills soar, Britain’s new prime minister, Liz Truss, proposes short-term measures to prop up suppliers with public money. But we won't be “back to normal” anytime soon — and it’s working-class Britons who will suffer.

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Your Democracy Monday, September 12, 2022 - 07:53 Source

Why is there such a sense of grief at the death of the Queen – not just in Great Britain but also throughout the Commonwealth? And is there anything we have learnt over the past few days from the reactions to the monarch’s death?

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John Quiggin Monday, September 12, 2022 - 05:55 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, September 12, 2022 - 00:10 Source

The recent DXY super spike came off again Friday night as markets bid the univestable EUR. This is all positioning and nonsense. AUD went on a rampage. The new high against JPY also matters. The North Asian FX war is heating up fast and damage markets as it worsens: Oil is buggered in my view:

The post Australian dollar rampage appeared first on MacroBusiness.

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MacroBusiness Monday, September 12, 2022 - 00:05 Source

Melbourne’s house price bust has hit a new milestone, according CoreLogic’s daily dwelling values index. The quarterly rate of value decline accelerated to 4.0% as of 10 September – the fastest rate of decline since February 2019: Melbourne’s peak-to-trough decline has now hit 5.0%, with 4.8% of that fall occurring following the Reserve Bank of

The post Melbourne house prices in freefall appeared first on MacroBusiness.

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MacroBusiness Monday, September 12, 2022 - 00:01 Source

Global Macro / Markets / Investing: Summers Says Dollar Can Go Further, With ‘Huge Advantage’ for US – Bloomberg US warns of sanctions for buyers that ignore price cap on Russian oil – FT Fed’s Own Economist Warns of “Severe Recession” From Chair Powell’s Rate Hikes – The Intercept BlackRock strikes back at ESG critics

The post Links 12 September 2022 appeared first on MacroBusiness.

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Your Democracy Sunday, September 11, 2022 - 21:06 Source

ISAIAH hoped it would be different.

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Your Democracy Sunday, September 11, 2022 - 20:31 Source

Whatever your feelings about former President Trump, there are reasons to be skeptical when government officials say it was necessary to raid his Florida home to recover classified documents that threatened national security.

 

BY Leonard Goodman

 

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Your Democracy Sunday, September 11, 2022 - 20:04 Source

ASTONISHING AS IT IS, MOST PEOPLE DON’T CARE ABOUT THE TRUTH NOR REALITY. THEY ARE COMFORTABLE IN THE ARMS OF PROPAGANDA. OR THEY THINK THAT THE INFORMATION THEY GET IS THE TRUTH ABOUT REALITY. IT’S NOT.

AMERICAN BAMBOOZLE ITS OWN PEOPLE AND MANY NATIONS ON THIS PLANET WITH THE HOPEFUL/BOOM-BANG DELUSIONS OF HOLLYWOOD AND POLITICAL EXCEPTIONALISM. 

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Your Democracy Sunday, September 11, 2022 - 19:22 Source

BEN NORTON: Hey everyone, this is Ben Norton of Multipolarista. I’m joined by one of my favorite guests today, the brilliant economist Michael Hudson. And there are a lot of things that we plan on talking about today.

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The Australian Independent Media Network Sunday, September 11, 2022 - 17:53 Source

So the Queen answered “R U OK” day with an emphatic no. This is one of those difficult pieces to write because I can understand so many different points of view and I’m firmly in agreement with absolutely none of them… or all of them. I can’t make up my mind. Someone said that if you…

The post Waiting For The Irish To Say Charles The Third… appeared first on The AIM Network.

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Renew Economy Sunday, September 11, 2022 - 09:03 Source

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