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MacroBusiness Thursday, September 29, 2022 - 14:00 Source

Almost daily now we are reading articles and reports on the rental disaster sweeping Australia. The latest salvo comes from The Guardian, which has labelled Australia’s rental market a “social calamity and an economic disaster”: Kate Colvin, the national spokesperson for the Everybody’s Home campaign [says]… “Renters on modest incomes are bearing the cost of the

The post Australia is a renter’s dystopia appeared first on MacroBusiness.

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MacroBusiness Thursday, September 29, 2022 - 13:59 Source

CBA with the note. New monthly inflation data suggests 1.6%/qtr Q3 22 CPI. ■ The new ABS monthly CPI indicator rose 6.8%/yr to August 2022 (the annual rate stepped down from 7.0%/yr in July 2022). ■ Based on today’s inflation data we expect the Q3 22 CPI to increase by 1.6%/qtr which would take the

The post Aussie inflation tops out appeared first on MacroBusiness.

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The Australian Independent Media Network Thursday, September 29, 2022 - 13:58 Source

This exposition of Australia’s mission, its raison d’etre, is provided by the Parliamentary Education Office: “The Australian Government is responsible for making decisions about how the country is run, including setting a policy agenda, proposing new laws and putting laws into action. The government plays an important role in shaping our society and making sure that Australians…

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Renew Economy Thursday, September 29, 2022 - 13:54 Source

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Your Democracy Thursday, September 29, 2022 - 13:53 Source

US President Joe Biden on Wednesday called out for a congresswoman who had died in a car crash in early August – apparently forgetting his own statement of condolence to her family, or the tribute video that reportedly aired before the event. 

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The Australian Independent Media Network Thursday, September 29, 2022 - 13:32 Source

Come Together: Things Every Aussie Kid Should Know about the First Peoples is a debut picture book for children aged 5 and up by Yorta Yorta and Gunditjmara man and musician Isaiah Firebrace. Inspired by Isaiah’s petition to the Australian Government calling for Aboriginal history to be taught in every classroom, Come Together establishes a…

The post Come Together: Things Every Aussie Kid Should Know about the First Peoples appeared first on The AIM Network.

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MacroBusiness Thursday, September 29, 2022 - 13:30 Source

Or Donald Trump. Whichsoever POTUS you like. But let’s not pretend that declaring ourselves a republic makes any sense. We have neither the smarts nor the personal power to be such. It is dangerously delusional to try. Australia was born a client state. It was raised a client state. It has prospered as a client

The post Put Joe Biden on the $5 bill appeared first on MacroBusiness.

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Your Democracy Thursday, September 29, 2022 - 13:02 Source

Washington may not be able to support Ukraine in the conflict against Russia “for as long as it takes” due to a shortage of the industrial capacity needed to replenish munitions and weapons it sends to Kiev, CNBC reported on Wednesday, citing military analysts.

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MacroBusiness Thursday, September 29, 2022 - 13:00 Source

Goldman with the note. Sales popped last week but the trend is still down. Let’s see how Golden Week goes before jumping to conclusions. Mortgage boycott updates: latest number of cities with reported mortgage boycott incidents remained 103, with 357 developer projects being impacted (vs. 103cities/356 projects in prior week). China Construction Bank (CCB) announced

The post Chinese property sales pop appeared first on MacroBusiness.

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Renew Economy Thursday, September 29, 2022 - 12:52 Source

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MacroBusiness Thursday, September 29, 2022 - 12:30 Source

Westpac with the note. In a few words: commodity prices and the reopening boom. The Federal budget position improved dramatically during the 2021/22 financial year, exceeding all expectations. The underlying cash deficit came in at -$32.0bn, representing -1.4% of GDP. That was $47.9bn less than forecast in the 2022/23 March Budget. The deficit narrowed sharply

The post What saved the Budget? appeared first on MacroBusiness.

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MacroBusiness Thursday, September 29, 2022 - 12:20 Source

Via the ABS. Interesting that the decline was led by WA and TAS. The housing bust is yet to bite on the east coast. Seasonally adjusted estimates for August 2022: Total job vacancies were 470,900, a decrease of 2.1% from May 2022. Private sector vacancies were 425,500, a decrease of 3.3% from May 2022. Public sector vacancies were 45,300, an

The post Aussie job vacancies flame out appeared first on MacroBusiness.

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The Australian Independent Media Network Thursday, September 29, 2022 - 12:15 Source

Media Release The Uniting Aboriginal and Islander Christian Congress, the Uniting Church in Australia and UnitingCare Australia commend the Albanese Labor Government for scrapping the Cashless Debit Card. “We have long advocated for the abolition of the Cashless Debit Card and we are pleased that action is finally being taken to end a program that…

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MacroBusiness Thursday, September 29, 2022 - 12:00 Source

Independent central banks are largely ubiquitous in developed markets. But, as recent events have shown, there are lots of downsides to go with the benefits. Join us in this investment podcast as Nucleus Wealth Chief Investment Officer, Damien Klassen, Senior Financial Adviser, Samuel Kerr, and Chief Operating Officer, Shelley George discuss the perils of independent

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MacroBusiness Thursday, September 29, 2022 - 11:30 Source

The latest Cleveland Fed nowcasting model for US inflation is still double where it needs to be: CorePCE is the key measure for the Fed. It is still running at 4% quarterly and monthly annualised. It will not be happy with wages, either: The economy is still growing, too, having received a boost from big

The post The Fed’s not done appeared first on MacroBusiness.

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The Australian Independent Media Network Thursday, September 29, 2022 - 11:07 Source

Imagine the tobacco producer who invests in smoke limitation programs, or the arms manufacturer who attends a conference proposing to ban weapons and seek a better future. Gautam Adani, one of India’s most ruthlessly adept billionaires, has added his name to the growing list of corporate transvestism, using ecological credentials as his camouflage for fossil…

The post Gautam Adani: Ecological Crossdresser appeared first on The AIM Network.

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MacroBusiness Thursday, September 29, 2022 - 11:00 Source

A terrific video here from some crypto conference starring fundie Brent Johnson: Lehman Brothers is China.

The post If the UK is Bear Stearns, then who is Lehman Brothers? appeared first on MacroBusiness.

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MacroBusiness Thursday, September 29, 2022 - 10:30 Source

Charlie McElligott of Nomura not holding back today. Quick take—idiosyncratic fiscal largesse in midst of an already unstable monpol tightening creates a market accident which leads to an asymmetrically WILD policy response from the BoE…which creates more instability. Just a massive change here in the past few hours on a STUNNING policy move from the

The post UK “clown show” a “pension fund bailout” appeared first on MacroBusiness.

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MacroBusiness Thursday, September 29, 2022 - 10:20 Source

Last week, the Credit Suisse Global Wealth Report declared Australian households the world’s richest thanks to their expensive property assets: Now, data from CoreLogic shows that the median house price in an additional 178 suburbs nationwide reached $1 million in the year to August, with 1,120 suburbs across Australia now boasting a median house price

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Renew Economy Thursday, September 29, 2022 - 10:18 Source

The Loy Yang A power station in Victoria's Latrobe Valley.

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Your Democracy Thursday, September 29, 2022 - 10:04 Source

Ignorance is the opiate of the poor, a cordial, administered by the gracious hand of providence.

                                 Soame Jenyns

 

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MacroBusiness Thursday, September 29, 2022 - 10:00 Source

Tiresome, I know. But this is how markets work. The Market Ear has more. Enough is enough – UK rates edition The UK 30 year yield is showing px action we have not seen in DM rates. Refinitiv Enough is enough – US rates edition US 10 year has not traded this much above the

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

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The Australian Independent Media Network Thursday, September 29, 2022 - 09:41 Source

In Australia the Labor Government is being warned not to spend too much for fear of exacerbating inflation. At the same time workers are urged to moderate wage demands to avoid a ‘wage/price spiral’. This is the ‘common sense’ of the day. But at the same time the labour share of the economy has fallen…

The post Social Justice doesn’t need to be ‘put on hold’ to fight inflation appeared first on The AIM Network.

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MacroBusiness Thursday, September 29, 2022 - 09:40 Source

The Bank of England stepped into the bond market as UK gilts collapsed following the disastrously stupid Truss economic “plan” saw a big rush on Pound Sterling. This overshadowing the ongoing war/Nordstream/recession trifecta of concerns in Europe and saw a reversal in USD, with Euro lifting to a weekly high, but still well below parity.

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Thursday, September 29, 2022 - 09:20 Source

DXY flamed out last night: Everything else reversed out of the swan dive. AUD: Oil: Metals: Miners: EM stocks: Junk: Treasuries: Stocks: Hooray! Everything is fixed! Goldman: BOTTOM LINE: The BoE has just announced that it will carry out temporary purchases of long-dated UK government bonds from today until 14 October, in order to restore

The post Australian dollar crashes up appeared first on MacroBusiness.

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Renew Economy Thursday, September 29, 2022 - 09:08 Source

acciona solar farm panels queensland-2

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Renew Economy Thursday, September 29, 2022 - 09:05 Source

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Your Democracy Thursday, September 29, 2022 - 09:04 Source

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MacroBusiness Thursday, September 29, 2022 - 09:00 Source

The Guardian has more on the fight of our lives: Gas exporters and the Albanese government remain at loggerheads over ensuring eastern Australia has sufficient supplies to meet domestic demand next year. The government is due to decide within days if it will activate the Australian domestic gas security mechanism, usually referred to the “gas

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Renew Economy Thursday, September 29, 2022 - 08:57 Source

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