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MacroBusiness Thursday, October 24, 2024 - 07:02 Source

DXY is turning into a wrecking ball: AUD blood in the streets: North Asia has got nuthin’: Gold is wildly overshot: Commods fighting the power: Miners not: Xi rally in trouble: Junk warning worked a treat: Jackknife! Stocks finally woke up: The DXY wrecking ball has multiple drivers. BofA: USD has risen significantly in October,

The post Australian dollar blood in the streets appeared first on MacroBusiness.

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MacroBusiness Thursday, October 24, 2024 - 07:00 Source

Earlier this year, Vanguard Australia warned that the housing crisis threatens the nation’s retirement system. Vanguard projected that an increasing proportion of Australians would rent in retirement, while 30% would still be paying down their mortgages. “Australians have this view that they will own a home and be debt-free when they get to those retirement years”,

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Your Democracy Thursday, October 24, 2024 - 03:38 Source

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George Monbiot Thursday, October 24, 2024 - 03:35 Source

A horrible illness has been widely neglected, thanks in part to the influence of a cruel and bizarre cult.

By George Monbiot, published in the Guardian  18th October 2024

How could this happen in the 21st century? The question could apply to many issues, but this one sends you reeling. A brilliant and lively young woman with a common illness was repeatedly disbelieved, dismissed and given inappropriate treatment, until she starved to death. It is a terrible result of the most remarkable situation I’ve ever encountered in either medicine or journalism.

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Your Democracy Thursday, October 24, 2024 - 03:33 Source

It seemed that everyone on one side of politics has been clamouring to hear from Jordan Peterson, the reactionary Canadian psychologist best known for apocalyptic ramblings about the death of Western civilisation and life advice for teenage boys who just can’t seem to get a girl. But alas, the big guy was a no-show at his own conference in Sydney on Tuesday.

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Your Democracy Thursday, October 24, 2024 - 02:59 Source

Remember those two pieces of US intelligence that appeared on the Middle East Spectator and set off alarm bells in Washington about a security breach? Yeah, forget about that. Move along. Nothing to see here. I checked the websites of the NY Times, the Washington Post and Politico this evening and was surprised to see the story has disappeared. No longer worthy of coverage, I guess.

 

BY LARRY JOHNSON

 

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MacroBusiness Thursday, October 24, 2024 - 00:10 Source

Earlier this week, property industry analysts Charter Keck Cramer poured cold water on the notion that rezoning Australian suburbs for high density will lead to more affordable housing. Charter Keck Cramer said that with the explosion in construction costs since the pandemic, apartment prices would need to rise by 15% to make it financially viable

The post Australians cannot afford to live in apartments appeared first on MacroBusiness.

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John Quiggin Wednesday, October 23, 2024 - 19:18 Source

Via Peter Hartcher in the Nine papers, I learned the other day that Albanese snubbed President Prabowo of Indonesia to meet King Charles.

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Your Democracy Wednesday, October 23, 2024 - 18:11 Source

US Secretary of State Antony Blinken has urged Israeli Prime Minister Benjamin Netanyahu to revive ceasefire talks to end the war in Gaza and pressed for more aid to be allowed to enter the Palestinian territory.

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Your Democracy Wednesday, October 23, 2024 - 17:26 Source

“At the end of the day, Ukraine will be a member of NATO” — Finnish President Alexander Stubb calls for strong NATO deterrence and backs Ukraine's path to membership in an exclusive interview conducted by DW political correspondent Hans Brandt.

'We will do our part to fend off any Russian aggression'

-------------------

 

NATO’s Response to Aggression? Glorious Ambiguity

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MacroBusiness Wednesday, October 23, 2024 - 17:00 Source

Asian stock markets are still putting in very mixed sessions, which is not surprising given the continuining poor lead from Wall Street overnight and also the lack of economic catalysts for risk markets to go on. Futures are indicating a flat or lower start for European stocks which are likely to be muted again although

The post Macro Afternoon appeared first on MacroBusiness.

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Renew Economy Wednesday, October 23, 2024 - 15:25 Source
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Cheeseburger Gothic Wednesday, October 23, 2024 - 14:19 Source

I removed the old towel I’d folded and laid out on my desk for the cat/s to sleep on while I’m in the office. It needed to go in the laundry.

This, of course, was the worst thing any human had ever done since we were domesticated many thousands of years ago.

I was glared at continually for twenty minutes.

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MacroBusiness Wednesday, October 23, 2024 - 14:00 Source

The International Monetary Fund’s (IMF) latest World Economic Outlook report forecasts that Australia and Slovakia will be the only two advanced economies with headline inflation above 3% by the end of 2025. The IMF expects Australia’s inflation rate to rise to 3.6% by December 2025 as federal and state government cost-of-living relief is wound back.

The post RBA must ignore inflation fearmongering appeared first on MacroBusiness.

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The Australian Independent Media Network Wednesday, October 23, 2024 - 13:36 Source

It was never a good look. Advertised as the world’s largest, complex and most colourful of democracies, India’s approach to certain dissidents, notably of a Sikh patriotic sensibility, has not quite matched its lofty standing. The strength of a liberal democratic state can be measured by the extent it tolerates dissent and permits the rabble…

The post Stifling the Sikh Diaspora: India’s Continuing War on Khalistan appeared first on The AIM Network.

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MacroBusiness Wednesday, October 23, 2024 - 13:30 Source

I have written repeatedly how Australia’s home building industry is facing stiff headwinds that will keep the volume of housing construction depressed for the foreseeable future and unable to meet the Albanese government’s fantastical housing target. First and most importantly, construction costs have risen nearly 40% since the start of the pandemic, meaning that it

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MacroBusiness Wednesday, October 23, 2024 - 13:00 Source

Why must Australia have these endlesss debates about idiotic non-solutions while the real answer is tried, true and obvious: BlueScope has called for the introduction of an east coast gas reservation to ensure domestic users are adequately supplied ahead of a looming regional supply crunch. Australia’s east coast is awash with gas, but it is

The post There is no gas solution other than breaking the cartel appeared first on MacroBusiness.

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MacroBusiness Wednesday, October 23, 2024 - 12:30 Source

Australian households have had a torrid time in recent years, experiencing the largest decline in disposable incomes in history: This decline in household income has also been among the largest in the world: On July 1, the Stage 3 tax cuts came into effect, which reduced personal income taxes by around $1,200 annually for somebody

The post Tax cuts ease mortgage pain appeared first on MacroBusiness.

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The Australian Independent Media Network Wednesday, October 23, 2024 - 12:14 Source

Australia’s largest media study tracking gender bias in news reporting reveals a mixed report card for newsrooms. The report by the Women’s Leadership Institute Australia (WLIA) shows business news continues to be dominated by male reporters and experts, but the gender balance in political reporting has improved since the last study in 2021. Led by…

The post Report shows gender bias continues in news reporting appeared first on The AIM Network.

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MacroBusiness Wednesday, October 23, 2024 - 12:00 Source

Australia has a very large skilled migration program. Over the last 20 years, Australia has granted 2.3 million permanent skilled visas. Earlier this year, the Committee for Economic Development of Australia (CEDA) published research revealing that half of skilled migrants work in occupations that are below their qualifications and earn significantly less than Australians with

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Renew Economy Wednesday, October 23, 2024 - 11:32 Source
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MacroBusiness Wednesday, October 23, 2024 - 11:30 Source

Women have made such a difference in the housing crisis. They’ve made it worse. Victorian teal MPs have strongly criticised key aspects of Premier Jacinta Allan’s plan for high-rise towers in Melbourne suburbs, with the federal member for Goldstein, Zoe Daniel, warning “crash or crash through” policies will not fix the housing crisis. The developments will

The post Women rebrand ‘caring’ politico-housing complex appeared first on MacroBusiness.

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Renew Economy Wednesday, October 23, 2024 - 11:22 Source
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MacroBusiness Wednesday, October 23, 2024 - 11:05 Source

There is a first time for everything, and today I agree with Tim Gurner, Australia’s most hated man: Developer Tim Gurner says the Victorian government’s stamp duty cuts are a strong start to get the property market moving again, but warned the effort is doomed to fail unless Melbourne’s reputation as a safe place to

The post Australia’s most hated man hates Hellbourne appeared first on MacroBusiness.

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MacroBusiness Wednesday, October 23, 2024 - 11:00 Source

Australians are trapped in the most prolonged per capita recession on record, following six consecutive quarterly declines in per capita GDP and seven declines over the preceding eight quarters. The International Monetary Fund’s latest World Economic Outlook report forecasts that the Australian economy will grow by just 1.2% in 2024, compared with its April forecast

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xkcd.com Wednesday, October 23, 2024 - 11:00 Source

 Canonically, because of how Elsa's abiogenesis powers work, Olaf is an RNA-only organism.

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MacroBusiness Wednesday, October 23, 2024 - 10:36 Source

The Market Ear with some charts. Beware rising wedges SPX is trading tighter and tighter into the rising wedge. Highs have been losing momentum for some time and have been unable to push “properly” higher. Watch the steep short term trend line that has been in place since August lows. A close below and things

The post Stocks all-in on Trump appeared first on MacroBusiness.

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MacroBusiness Wednesday, October 23, 2024 - 10:30 Source

Over the weekend, Victorian Premier Jacinta Allan chose the wealthy suburb of Brighton to launch her plan of seizing planning controls away from local councils to create 50 activity centres the government has earmarked for higher density. These areas will be rezoned for high-rise apartment complexes of 10 to 20 storeys near train and tram

The post Why Victoria’s high-rise apartment plan will fail appeared first on MacroBusiness.

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MacroBusiness Wednesday, October 23, 2024 - 10:00 Source

Goldman cracking a joke about Chinese property. Going into the fifth year of the current downturn, we summarize our outlook for the China property industry in the following three points: 1) We are finally at an inflection point of the ongoing downward spiral in the housing market on the back of a comprehensive and coordinated

The post Chinese property “bottom in sight”. Hilarity ensues appeared first on MacroBusiness.

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MacroBusiness Wednesday, October 23, 2024 - 09:30 Source

SHFE and SGX are stuck on a ledge: Mad Dalian likewise: There is no steel recovery coming, sorry.  WorldSteel: Africa produced 1.9 Mt in September 2024, up 2.6% on September 2023. Asia and Oceania produced 105.3 Mt, down 5.0%. The EU (27) produced 10.5 Mt, up 0.3%. Europe, Other produced 3.6 Mt, up 4.1%. The

The post Catastrophic iron ore flood appeared first on MacroBusiness.

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