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Your Democracy Thursday, September 29, 2022 - 07:47 Source

The New York Times, which consistently supports every American war, has published an op-ed by a neoconservative think tanker titled “Biden’s Cautious Foreign Policy Imperils Us“.

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Your Democracy Thursday, September 29, 2022 - 06:15 Source

GUS WASN'T SURPRISED TO SEE WALEED ALI PARROTING US PRESIDENT, SENILE JOE BIDEN, ABOUT THE REFERENDUMS (REFERENDA) IN THE INDEPENDENT REPUBLICS OF THE DONBASS. HE SHOULD KNOW BETTER. HIS INTERVIEW WITH THE UKRAINIAN AMBASSADOR IN AUSTRALIA WAS A SHAM AND A FARCE THAT UNFORTUNATELY EDUCATES YOUNG PEOPLE TO BELIEVE IN CRAP...

 

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

A fortnight ago, new Climate Change Authority member, Professor Lesley Hughes, called on Australia to reach net zero at least a decade earlier than 2050: [Professor Hughs] said the government’s current 2030 target was “not good enough” and said through her work at the Climate Council, she had called for a 75% cut within a

The post Where were climate groups during the Jobs & Skills Summit? appeared first on MacroBusiness.

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MacroBusiness Thursday, September 29, 2022 - 00:05 Source

Yesterday, Sydney’s housing correction hit a new milestone, with dwelling values down 9.0% from their mid-February peak according to the CoreLogic daily dwelling values index: As shown in the next chart, this is the second fastest correction in CoreLogic records dating back to 1980, behind the 1982-83 episode: However, Sydney’s current correction began slowly, only

The post Sydney house prices sink to new low appeared first on MacroBusiness.

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MacroBusiness Thursday, September 29, 2022 - 00:01 Source

Global Macro / Markets / Investing: UK Markets Have Lost $500 Billion Since Liz Truss Took Over – Bloomberg Lumber Prices Fall Back to Around Their Pre-Covid Levels – WSJ Why Wall Street is snapping up family homes – The Economist Wall Street to Pay $1.8 Billion in Fines Over Traders’ Use of Banned Messaging

The post Links 29 September 2022 appeared first on MacroBusiness.

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Club Troppo Wednesday, September 28, 2022 - 22:22 Source

Finding a formatting mess when I looked this up on Troppo, I’ve reposted it here for the record. I’m a bit embarrassed by my wooden speaking style.

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George Monbiot Wednesday, September 28, 2022 - 18:08 Source

Liz Truss has been trained and shaped by dark-money lobbyists.

By George Monbiot, published in the Guardian 23rd September 2022

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Renew Economy Wednesday, September 28, 2022 - 17:46 Source

 AGL Energy)

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MacroBusiness Wednesday, September 28, 2022 - 17:00 Source

Another sea of red across Asian stock markets today following more overnight macro worries in Europe and a hawkish Fed amid rising interest rates and bond yields. The USD has regained all it lost (i.e not much) against the major currencies, as falls continue in Pound Sterling and Euro. Meanwhile oil prices are trying to

The post Macro Afternoon appeared first on MacroBusiness.

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Renew Economy Wednesday, September 28, 2022 - 15:58 Source

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Renew Economy Wednesday, September 28, 2022 - 15:28 Source

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Renew Economy Wednesday, September 28, 2022 - 15:17 Source

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MacroBusiness Wednesday, September 28, 2022 - 14:00 Source

The usual Aussie bank groveling articles are appearing as we approach full-year results. These articles focus on the juicy dividends without making reference to the business cycle. A bad idea. Bank’s forward earnings multiples have been falling much of this year. Some of this is the lifting margins emanating from rising interest rates. Some of

The post Aussie bank bubble bursting slowly, then all at once…. appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 28, 2022 - 13:40 Source

Rather than import so many warm bodies to feed this bottomless pit, let’s export Gerry Harvey to China. He wants to go: There’s some laughter from Australian billionaire Gerry Harvey when he suggests that China’s one-party led dictatorship is a model Australia should aspire to if it wants to get things done. But there’s more

The post Let’s export Gerry Harvey to China appeared first on MacroBusiness.

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Renew Economy Wednesday, September 28, 2022 - 13:31 Source

solar panel

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MacroBusiness Wednesday, September 28, 2022 - 13:20 Source

Oil enjoyed a nice little pop last night as Vladimir Putin asked OPEC to fund his war: Russia is likely to propose that OPEC+ reduces oil output by around 1 million barrels per day at its next meeting in October, a source familiar with the Russian viewpoint said on Tuesday. The meeting will take place

The post Putin asks OPEC to fund his war appeared first on MacroBusiness.

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Renew Economy Wednesday, September 28, 2022 - 13:20 Source

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MacroBusiness Wednesday, September 28, 2022 - 13:00 Source

Federal housing minister, Julie Collins, continues to wax lyrical about Labor’s housing and homelessness plan, claiming she is incredibly passionate about “making sure that more Australians have a safe place to call home”: Ms Collins said she was working with state and territory governments and the construction sector on the issues. Before the May election,

The post Labor’s housing and homelessness plan is a joke appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 28, 2022 - 12:40 Source

Here’s a MySteel report for you to digest. The most significant component of the data is the recovery in rebar consumption and output. This is probably led by the infrastructure push which can be very lumpy and so enjoy periods of growth within quarters even if year-over-year comparisons are less flattering. There may be some

The post What’s supporting iron ore? appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 28, 2022 - 12:20 Source

Retail trade for August is out and is still firm at 0.6% month-on-month and 19.2% year-on-year: Households goods are still booming despite falling house prices: Same for NSW: The question is, how much of this is inflation and how much is actual volume growth? Also, there is a correlation between the recent bounce and with

The post Aussies spend on but buying more or paying more? appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 28, 2022 - 12:19 Source

It’s like watching a skydiver with a torn parachute: It’s sell first and ask questions later. Credit Agricole discusses why. I can’t see how the G20 can do anything much given how riven geopolitics is: One topic that has featured prominently during recent discussions with clients has been the question about a potential concerted central

The post Australian dollar plumments into the 63s appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 28, 2022 - 12:00 Source

Pantheon with the note. I don’t think so. Restarting stalled projects is one thing. Overturning “houses are for living in not speculation” is another.  But you never know your luck in the big city! Property Stimulus Starts to Show in the Data, but Much More is Needed China’s property sector is yet to pull out

The post Green shoots for Chinese property appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 28, 2022 - 11:30 Source

Well, that escalated quickly. One minute Albo was everybody’s probity hero, the next he’s just another corrupt hack: Legal and integrity experts have criticised the government’s proposed National Anti-Corruption Commission (NACC) for having too high a threshold for public hearings, but those who the government will need to pass the legislation were more positive. The

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MacroBusiness Wednesday, September 28, 2022 - 11:00 Source

Coolabah Capital’s Chris Joye notes “that the great Aussie housing crash is stabilising in the vanguard cities of Sydney and Melbourne”, albeit values nationally are still plummeting at a 16% annual pace (and 22% across Sydney). However, the “bad news is that only a portion of the RBA’s 225 basis points of rate hikes have

The post Australia’s housing bloodbath eases appeared first on MacroBusiness.

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Renew Economy Wednesday, September 28, 2022 - 10:51 Source

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MacroBusiness Wednesday, September 28, 2022 - 10:30 Source

As noted many, many times, Goldman Sachs has been the leading Wall Street salesman for commodities in the last year. It has stuck to this narrative all the way through the correction, telling everybody to keep catching the falling knife. Today it finally gives in, which is probably bullish, though my own view is that

The post Oops! Goldman gives up on commodities appeared first on MacroBusiness.

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xkcd.com Wednesday, September 28, 2022 - 10:00 Source

Once the air from the top passes below the plane of the wing and catches sight of the spooky skulls, it panics, which is the cause of turbulent vortices.

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MacroBusiness Wednesday, September 28, 2022 - 09:45 Source

The Market Ear with the latest on equity market sentiment. —————————————————————————— Protection ain’t easy You buy protection when you can, not when you must. Premium is usually much cheaper in times when “you can…” The crowd tends to do the inverse though. VIX term structure is shifting higher today again. Note the backwardation now becoming

The post “Canaries aren’t singing” appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 28, 2022 - 09:40 Source

Concern over European gas supplies and the fake referendums in Ukraine kept overnight stock markets contained. The USD remains strong against everything undollar with Euro still sharply below parity without any upside moves, as Pound Sterling races to join the crowd. The Australian dollar is still on the ropes, as commodity prices remain under pressure.

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 28, 2022 - 09:20 Source

DXY to the moon: AUD flushed: Oil held up as Putin asked OPEC to fund his war with output cuts: Base metals still in big trouble: Big miners survived with iron ore: EM flushed: Junk flushed: Treasuries flushed: Stocks cling desperately to the cliff’s edge: And the key chart, CNY/USD, was flushed to perhaps the

The post Australian dollar hammering continues appeared first on MacroBusiness.

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