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MacroBusiness Thursday, October 31, 2024 - 17:00 Source

A red sea across Asian stock markets which have all failed to advance in the wake of the latest BOJ meeting and North Korean sabre rattling, while US stock futures are down despite some solid after hours earnings from tech stocks. Yen strengthened slightly, giving a headwind to Japanese equities while the USD remains tentatively

The post Macro Afternoon appeared first on MacroBusiness.

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Renew Economy Thursday, October 31, 2024 - 15:43 Source
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Renew Economy Thursday, October 31, 2024 - 14:32 Source
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Your Democracy Thursday, October 31, 2024 - 14:24 Source

https://www.youtube.com/watch?v=HsunxzA4bqw

Donald Trump hilariously trolls Joe Biden after ‘garbage’ gaffe

 

Joe Biden shocked the world and possibly cost Kamala Harris the presidency with his brash comment labeling Trump supporters ‘garbage’ during a CNN interview.

 

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Renew Economy Thursday, October 31, 2024 - 14:10 Source
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The Australian Independent Media Network Thursday, October 31, 2024 - 13:36 Source

Media Release Building approvals rose by 4.4 per cent in September and 6.3 per cent over the quarter, indicating a recovery in the home building market, according to new ABS figures. However, Master Builders Australia’s Chief Economist Shane Garrett said there’s still a long way to go to meet the Housing Accord’s goal of 1.2…

The post Home building approvals hit 15-month high appeared first on The AIM Network.

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MacroBusiness Thursday, October 31, 2024 - 13:30 Source

You know that Australia has left the lunatics in charge of the asylum when its own National Anti-Corruption Commission (NACC) has been embroiled in corruption scandals. When the Royal Commission on the Robodebt Scheme issued its report, the commissioner in charge went to extraordinary lengths to recommend six people to the National Anti-Corruption Commission for

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Renew Economy Thursday, October 31, 2024 - 13:27 Source
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MacroBusiness Thursday, October 31, 2024 - 13:00 Source

MB has been full of praise for the QLD’s ram raid on coal royalties several years ago. It was marvellously executed super profits tax perfectly timed to reap the benefits of the Ukraine War for the owners of the assets—Queenslanders. Now, BHP wants its royalty rort restored: The boss of BHP has criticised Queensland as

The post QLD must tell BHP to take a hike appeared first on MacroBusiness.

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Renew Economy Thursday, October 31, 2024 - 12:37 Source
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MacroBusiness Thursday, October 31, 2024 - 12:30 Source

Australian media should be campaigning heavily to evict the Albanese government for three reasons. First, it is well known that of all the per capita recession sectors in Australia, media is suffering as much as anybody. Profits have been decimated. Headcounts are being cut. AI is rushing in. This is because the structure of the

The post Why media should campaign for Dutton appeared first on MacroBusiness.

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MacroBusiness Thursday, October 31, 2024 - 12:05 Source

ASIC recently decided to wind down bank hybrids over a number of years. Join us in this week’s podcast as Nucleus Wealth’s Chief Investment Officer Damien Klassen looks at why and what the options are for Australian investors in the income space. Can’t make it to the live series? Catch up on the content via Podcasts or our

The post MB Fund Podcast: Hybrids: Exiled Due To Bad Maths appeared first on MacroBusiness.

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MacroBusiness Thursday, October 31, 2024 - 12:00 Source

Australia’s youth are saved! Why? Because an influential coalition of business, social, and youth leaders is supporting an Australian-first community-led policy forum that will draw on real-life experiences to break the political gridlock and offset widening divisions over changes to address the housing and rental crisis. Paul Bassat, co-founder of SEEK and venture capital fund

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Your Democracy Thursday, October 31, 2024 - 11:47 Source

Australia’s Foreign Minister Penny Wong has finally acknowledged that Israel is in gross breach of international law, and must not ignore the United Nations, as it continues its ruthless military attacks on the people of Gaza, the West Bank and Lebanon.

 

The Australian Government must impose sanctions on Israel NOW    By Margo Reynolds

 

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The Australian Independent Media Network Thursday, October 31, 2024 - 11:37 Source

The British cannot help themselves. They are a meddling island people who conquered huge swathes of the earth in a fictional fit of absentmindedness and remain haughty for having done so. They have fought more countries they can name, engaged in more wars they care to remember. They have overthrown elected rulers and sabotaged incipient…

The post Virtuous, Smug and Venal: British Electoral Interference in the US appeared first on The AIM Network.

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MacroBusiness Thursday, October 31, 2024 - 11:30 Source

Wednesday’s Q3 Consumer Price Index (CPI) results from the Australian Bureau of Statistics (ABS) revealed that housing construction costs are out of control in Perth. As illustrated in the following chart from CBA, new dwelling purchase costs in the CPI increased by 19.1% in the year to September in Perth, compared with just 2.7% annual

The post Perth homebuilders buckle under demand appeared first on MacroBusiness.

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MacroBusiness Thursday, October 31, 2024 - 11:00 Source

Earlier this year, CBA published the following chart showing the extraordinary correlation between the ratio of population change to unit completions and asking rents: In a nutshell, when population growth exceeds apartment construction, rental inflation rises, and visa versa. As we know, Australia’s population growth whiplashed over the past four years. Population growth crashed over

The post The boom and bust of apartment rents appeared first on MacroBusiness.

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The Tally Room Thursday, October 31, 2024 - 10:48 Source

The process of vote-counting for the Victorian council elections started last Saturday, and while a lot of votes have been counted, absolutely none of them have been officially published for the public on the VEC’s website.

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MacroBusiness Thursday, October 31, 2024 - 10:30 Source

SHFE is hanging in: Dalian too: But there’s not much the cheer about. Property is up but well…meh… Rebar demand ain’t up. Better luck with infrastructure: Consumption sure ain’t a party: Doesn’t look like any stimmy “bazooka” I’ve ever seen.

The post Iron ore fades as stimmies disappoint again appeared first on MacroBusiness.

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Renew Economy Thursday, October 31, 2024 - 10:24 Source
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Renew Economy Thursday, October 31, 2024 - 10:11 Source
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MacroBusiness Thursday, October 31, 2024 - 10:00 Source

Way back on May 21, 2022 when the Albenese government was elected, an energy shock erupted owing to Ukraine War profiteering by the East Coast gas cartel. By May 30, I wrote a long piece noting that the government faced a choice. It could tackle the East Coast gas cartel head-on and become a multi-term

The post How Jim Chalmers destroyed the government in its first week appeared first on MacroBusiness.

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Renew Economy Thursday, October 31, 2024 - 09:57 Source
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Your Democracy Thursday, October 31, 2024 - 09:50 Source

The 2024 BRICS summit between October 22nd and 24th will go down in human history among the most significant events after the Enlightenment; when humans arose from their self-imposed tutelage. The BRICS summit represented the world’s majority emerging from Western-imposed dictatorship disguised as guidance. It is the first summit with global representation that occurred outside the ambit of the Western minority.

 

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MacroBusiness Thursday, October 31, 2024 - 09:30 Source

Westpac economist Pat Bustamante has released a detailed report on the 2023-24 annual national accounts, which showed that the economy grew by 1.4% over the year. Bustamante notes that with public demand transitioning to a new record share of the economy, measured productivity growth will necessarily remain soft. Westpac shows that productivity growth in the

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MacroBusiness Thursday, October 31, 2024 - 09:00 Source

Tech stocks dragged Wall Street back from exuberance overnight as traders position themselves for the end of month volatility and then tomorrow night’s US non-farm payrolls employment print. The latest US GDP print came in slightly lower than expected, and combined with election volatility gave the USD some pause as it fell back against Euro

The post Macro Morning appeared first on MacroBusiness.

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Club Troppo Thursday, October 31, 2024 - 08:43 Source

As you can see we’ve adopted a new WordPress theme.  Many thanks to our web guru Tony Sarhanis.  What do you think?  I really like it, although I have one reservation.You can’t scroll down the main posts column until the cursor gets to the bottom of the comments column. I suspect that’s a deliberate feature rather than a bug, because it forces the eye to look at the comments first.

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Your Democracy Thursday, October 31, 2024 - 08:41 Source

Ukrainian leader Vladimir Zelensky expressed frustration on Wednesday with the fact that classified details of his ‘victory plan’ in the conflict with Russia were leaked to the Western press.

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Your Democracy Thursday, October 31, 2024 - 08:15 Source

US election live: Harris vows to 'represent all Americans' after Biden 'garbage' comment as Trump rallies in North Carolina

Kamala Harris and Donald Trump are continuing their campaign trails in the lead up to the election.

The Trump campaign is holding rallies in North Carolina and Wisconsin.

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Your Democracy Thursday, October 31, 2024 - 07:54 Source

In a report released on Wednesday morning, National Anti-Corruption Commission Inspector Gail Furness concluded that the commissioner, Paul Brereton, disclosed a conflict of interest in relation to the robo-debt matter but said he should have withdrawn from the matter completely, resulting in a finding of “officer misconduct … that is not unlawful but arose from a mistake of law or fact”.

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