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MacroBusiness Thursday, March 7, 2024 - 13:00 Source

The New Daily reports that the Coalition may relaunch its policy of allowing Aussies raid their superannuation nest eggs to purchase a home if elected. This comes after the policy’s biggest advocate, Andrew Bragg, was promoted to shadow assistant minister for housing on Tuesday. Bragg has repeatedly called for Aussies to be allowed to access

The post Coalition pours superannuation fuel on housing bonfire appeared first on MacroBusiness.

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The Australian Independent Media Network Thursday, March 7, 2024 - 12:50 Source

ActionAid Media Release With one-quarter of Gaza’s population being one step away from famine and more than a dozen children dying from malnutrition in the north of the enclave, ActionAid is warning that an already extremely strained humanitarian system will face total collapse amidst the apparent looming offensive of Rafah. A senior UN aid official…

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Renew Economy Thursday, March 7, 2024 - 12:43 Source
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Renew Economy Thursday, March 7, 2024 - 12:34 Source
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MacroBusiness Thursday, March 7, 2024 - 12:30 Source

Over the last three years, Australia has experienced the biggest boom in mortgage refinances in its history. Monthly mortgage refinances peaked in mid-2023 at $21.5 billion, up from roughly $10 billion in mid-2020, according to the Australian Bureau of Statistics. However, the mortgage refinancing boom has well and truly ended, with total refinance activity declining

The post Mortgage refinancing boom turns bust appeared first on MacroBusiness.

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Renew Economy Thursday, March 7, 2024 - 12:20 Source
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MacroBusiness Thursday, March 7, 2024 - 12:05 Source

Join us in this week’s podcast as Nucleus Wealth’s Chief Investment Officer, Damien Klassen welcomes economist Leith Van Onselen, for a detailed dig into Australian GDP, what it is saying about economic conditions and what to expect for 2024. Can’t make it to the live series? Catch up on the content via Podcasts or our recorded Videos. Damien Klassen

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The Australian Independent Media Network Thursday, March 7, 2024 - 12:03 Source

Royal Australian College of GPs Media Release   The Royal Australian College of GPs (RACGP) is calling on government to boost the National Disability Insurance Scheme in the bush. It comes following the College’s submission to the inquiry into NDIS participant experience in rural, regional, and remote Australia. RACGP President Dr Nicole Higgins said that no…

The post “No one should miss out”: RACGP calls for urgent rural NDIS boost appeared first on The AIM Network.

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MacroBusiness Thursday, March 7, 2024 - 12:00 Source

So says Goldman. Unresolved gluts. Despite the significant downside in battery metals prices, with nickel, lithium and cobalt prices down 60%, 80% and 65% from cycle peak, respectively, we believe it is too early to call a decisive end to these respective bear markets. Margin pressures have generated a meaningful degree of supply rationing effects

The post Green metals bust to deepen appeared first on MacroBusiness.

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MacroBusiness Thursday, March 7, 2024 - 12:00 Source

Tax effectiveness of international shares International shares have a poor reputation for tax effectiveness. That doesn’t match the reality. Yes, international share dividends are not as good as franked dividends. But they are much better than unfranked dividends or interest from a tax perspective. The table below assumes: The same investment returns In Australia you

The post International shares and tax appeared first on MacroBusiness.

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MacroBusiness Thursday, March 7, 2024 - 11:30 Source

CBA economists Stephen Wu and Harry Ottley published a terrific chart pack on Wednesday’s Q4 national accounts, which showed that the household sector remains under pressure. First, the overall view shows that the economy is experiencing a per capita recession, with GDP growth falling when adjusted for Australia’s strong (2.6%) population growth: The overall economy

The post Aussies cut back hard on spending appeared first on MacroBusiness.

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The Australian Independent Media Network Thursday, March 7, 2024 - 11:01 Source

The spectacle, if it did not say it all, said much of it. Planes dropping humanitarian aid to a starving, famine-threatened populace of Gaza (the United Nations warns that 576,000 are “one step from famine”), with parachuted packages veering off course, some falling into the sea. Cargo also coming into Israel, with bullets, weaponry and…

The post Aiding Those We Kill: US Humanitarianism in Gaza appeared first on The AIM Network.

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MacroBusiness Thursday, March 7, 2024 - 11:00 Source

The Albanese government is likely to expand the nation’s anti-money laundering and counter-terrorism financing regime to require real estate agents, accountants and lawyers to report suspicious cash transactions. The AFR reports that Attorney-General Mark Dreyfus is consulting on changes that will finally bring real estate gatekeepers into the anti-money laundering (AML) regulatory net. “As the

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Prosper Australia Thursday, March 7, 2024 - 10:46 Source

The Great Housing Hijack is the latest book by Dr Cameron Murray. Here at Prosper Australia we have been following Cameron’s work for quite some time. Some of our supporters will remember his entertaining Henry George Commemorative Address in 2018. The Great Housing Hijack is a compelling read and explains the history of land prices […]

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MacroBusiness Thursday, March 7, 2024 - 10:30 Source

Westpac’s Home Ownership Report shows an increase in the share of Australians aspiring to own a home. The survey found 44% of Australians plan to buy a new home in the next five years, up 9 percentage points since July 2023. Damien MacRae, Westpac’s managing director of mortgages, said that while some purchasers have paused

The post The Australian Dream crashes into affordability brick wall appeared first on MacroBusiness.

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MacroBusiness Thursday, March 7, 2024 - 10:00 Source

A fortnight ago, The Greens’ housing spokesman, Max Chandler-Mather, told ABC Insiders host David Speers that the party supports higher levels of immigration, noting “more people coming to this country is a good thing”. “We just don’t think that migration is a major cause of the housing crisis,”  Chandler Mather claimed. “We’d like to see

The post The Greens claim immigration cut is “race to the bottom” appeared first on MacroBusiness.

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The Australian Independent Media Network Thursday, March 7, 2024 - 09:54 Source

By Bert Hetebry Cultures evolve, the lives we live today are different than the lives we used to live, very little remains of what used to be, but some people wish for the good old days, when we knew what was what… except of course that is illusionary. So what is culture? A quick Google search…

The post Cultural evolution appeared first on The AIM Network.

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Your Democracy Thursday, March 7, 2024 - 09:32 Source

Here’s the worst part about the leaked German ‘Crimean Bridge attack’ callSome officers seem to have forgotten which country they are sworn to defend – and they are really bad at deception, too....

 

BY Tarik Cyril Amar

 

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The Tally Room Thursday, March 7, 2024 - 09:30 Source

Tasmanian state elections often play out across a north-south divide, with the two southern electorates playing out differently than the northern remainder of the state.

In this post I thought I would try and map out some of these dynamics over the last 35 years and understand how they might impact on this upcoming election.

This blog post is borrowing a bit from a post I did after the 2021 election, which you can read here.

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MacroBusiness Thursday, March 7, 2024 - 09:30 Source

The Market Ear with the latest positioning. VIX not really buying it VIX is well bid… Refinitiv Stays bid Skew, SDEX index, stays well bid, despite the SPX bounce so far today. Is the crowd that long so they need to be paying up for downside protection? Refinitiv Not a bubble yet… TS Lombard’s macro

The post The AI bulls run on appeared first on MacroBusiness.

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MacroBusiness Thursday, March 7, 2024 - 09:00 Source

Confidence returned to equity markets overnights following a non-surprise testimony from US Fed Chair Powell, combined with solid private jobs data. Wall Street rallied while bond yields fell back on the expectation that interest rate cuts are still on the agenda, while the USD fell back against all the majors. The Australian dollar was able

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Thursday, March 7, 2024 - 08:30 Source

DXY sank last night: AUD bounced: North Asia a little as well: No luck for oil. Gold is running: Dirt meh: Miners finally got some bids: EM might be getting a bit more bullish: As spreads contact: And yields fall: BTFD! US JOLTS set the evening’s trade with pure soft landing data as job openings

The post Australian dollar JOLTed higher appeared first on MacroBusiness.

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MacroBusiness Thursday, March 7, 2024 - 08:00 Source

Shanghai rebar futures are in free fall: Conversely, iron ore prices on the Dalian exchange are hanging on desperately: This cannot last. One must turn, or Chinese steel mill losses will mount again. The latest steel mill output from CISA in late February suggests it will be iron ore. Production is now lagging in 2023.

The post Iron ore crash only a matter of time appeared first on MacroBusiness.

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Your Democracy Thursday, March 7, 2024 - 07:34 Source

Pentagon claims economic bonanza from arming UkraineWorkers from Texas to Ohio benefit from Washington’s campaign to procure arms for Kiev, Lloyd Austin has claimed...

The Ukraine conflict is a boon for the US economy as it has allowed more jobs to be created in the American military-industrial sector, Defense Secretary Lloyd Austin has said.

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MacroBusiness Thursday, March 7, 2024 - 07:30 Source

Treasurer Jim “Chicken” Chalmers wrote his PhD on Paul Keating and has now met his mentor’s most memorable achievement: endless recession. As expected, yesterday’s National Accounts described the ongoing per-capita GDP reaming of Australians by their Treasurer. Outside of pandemics, it is forty years since households have been so bashed up. Jim Chalmers has shrunk

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MacroBusiness Thursday, March 7, 2024 - 00:05 Source

Data from CoreLogic shows that housing rents rose 8.5% nationwide in February, to a record high of $614 per week. Separate data released this week by Domain showed that Australia’s rental vacancy rate collapsed to a record low 0.7% in February 2024: Suburbtrends director Kent Lardner notes that people in the lowest socio-economic households are

The post Brace for a big rise in homelessness appeared first on MacroBusiness.

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Your Democracy Wednesday, March 6, 2024 - 18:51 Source

After two years of war in Ukraine, western mainstream media still pretends that its coverage of this tragedy is in some sense "quality journalism". To any thinking observer this is laughable. Yet the fog of war is spread by the propaganda outlets that themselves accuse all alternative information sources as disinformation.

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MacroBusiness Wednesday, March 6, 2024 - 16:30 Source

Asian share markets have had a mixed session today despite the falls overnight on Wall Street with volatile commodity prices and US politics overshadowing confidence. The USD remains slightly weak against the majors due to the soft ISM services PMI while the Australian dollar has lifted slightly despite the poor GDP print locally. Oil prices

The post Macro Afternoon appeared first on MacroBusiness.

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MacroBusiness Wednesday, March 6, 2024 - 14:35 Source

Gareth Aird, head of Australian economics at CBA, has penned the below note in response to Wednesday’s weak national accounts data from the Australian Bureau of Statistics (ABS). Aird maintains that the soft consumer backdrop and rising unemployment will force the Reserve Bank of Australia (RBA) to commence an interest rate easing cycle in Q4

The post Deteriorating economy will force RBA to cut rates appeared first on MacroBusiness.

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MacroBusiness Wednesday, March 6, 2024 - 14:00 Source

It is becoming increasingly clear that the 5.25% worth of official cash rate (OCR) hikes by the Reserve Bank of New Zealand are crashing the housing market. Last week, Statistics New Zealand released data on residential building permits, which registered a heavy 8% decline in January. Detached house approvals also collapsed to their lowest level

The post Reserve Bank blows up housing market appeared first on MacroBusiness.

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