Blogotariat

From the always excellent Jeremy Grantham at GMO: Executive Summary All 2-sigma equity bubbles in developed countries have broken back to trend. But before they did, a handful went on to become superbubbles of 3-sigma or greater: in the U.S. in 1929 and 2000 and in Japan in 1989. There were also superbubbles in housing

The post Grantham: Superbubble about to burst appeared first on MacroBusiness.

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God this is good writing. Over at McSweeney’s.

Some faves that really spoke to me, man:

Bon Iver

Perhaps the most accurate term to apply to your situation is “seriously injured and lost in the woods.”

Pavement

So who will speak on behalf of the dead? Will they ever lie as forgotten sacrifices in the putrid side gutters of the golden path to profit and mindless economic growth? Who decided to let a sickness reign unfettered across our land? Was it a collective decision? Did the People agree? Or did one person…

The post The Omicron Murders? appeared first on The AIM Network.

NSW has recorded another 25,168 new COVID cases and a record high 46 deaths: Victoria recorded 18,168 new COVID cases and 20 deaths: The next chart plots cases across both jurisdictions since the beginning of the Delta wave last winter: Active cases continue to fall in NSW: Hospitalisations across NSW and Victoria continue to fall

The post NSW COVID deaths hit grim high appeared first on MacroBusiness.

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The bear market property party is underway in China on its new, that is old, ponzi fix for developers to spend their client’s deposits on sustaining the unsustainable: Citigroup The potential easing will likely be executed at the local level on a case-by-case basis without a formal announcement, according to analysts including Griffin Chan The

The post China triggers property bear market party appeared first on MacroBusiness.

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Alan Kohler argues that today’s political failure is the result of decades of neoliberalism that has systematically hollowed out government processes and talent. True enough. But we shouldn’t let systemic explanations for the disastrous performance of the Morrison Government lead to us overlooking its peculiar contributions to national failure. After all, although untested, Labor has made

The post Is Morrison mental? appeared first on MacroBusiness.

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Wall Street stumbled going into the close as traders abandoned most of the confidence gained throughout the session with a big reversal that will wipe out any potential for a solid close for Asian stocks as the trading week ends. The USD also firmed against all the major currency pairs with moves in bond markets

The post Macro Morning appeared first on MacroBusiness.

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DXY is firming again as EUR wilts: AUD was firm across the board: Oil was also firm: Base metals are threatening to blow off: Big miners stalled: EM stocks did better: And junk: Thanks to an evening of bear flattening: Which cut stocks some slack: Westpac has the data wrap: Event Wrap US existing home

The post Australian dollar lifts with RBA bets appeared first on MacroBusiness.

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Yesterday’s employment report from the Australian Bureau of Statistics (ABS) revealed that Australia’s youth are benefitting greatly from negative immigration: Total youth jobs rose by 40,500 in December, comprising a 29,300 increase in part-time jobs and a 11,200 increase in full-time jobs: The youth unemployment rate dived by 1.5% to 9.4% and is now 2.8%

The post Immigration collapse ends youth jobs depression appeared first on MacroBusiness.

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Global Macro / Markets / Investing: Taxing extreme wealth could lift 2.3 billion people out of poverty – CNN Fed to raise rates three times this year to tame unruly inflation – Reuters Bitcoin Futures Markets Signaling Volatility Ahead – Valkyrie Cryptocurrency Federal Reserve is in ‘deep trouble’ over ‘disaster’ balance sheet – Fox Business ‘Black

The post Links 21 January 2022 appeared first on MacroBusiness.

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In 2015, the Climate Change Authority recommended emissions reduction targets for the government to take to the Paris climate conference: a 2025 target of 30 per cent below 2000 levels further reductions by 2030 of 40 to 60 per cent below 2000 levels In response, Labor proposed an emissions reduction target of 45% below 2005…

The post After the seven hottest years on record, Labor lessens its climate ambition appeared first on The AIM Network.

A fun and often useful way of getting perspective on events from what seems like the relatively recent past is to take the time interval between those events and the present, then count back an equal time into the past [1].

For example, The Beatles first big hit, Love me Do, came out 60 years ago, in 1962. Going back 60 years to 1902, the hits of that year included Scott Joplin’s ragtime number The Entertainer. The recent buzz around Get Back can be compared to the revival of interest in Joplin generated by the Newman-Redford movie The Sting[2]