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MacroBusiness Tuesday, September 27, 2022 - 10:00 Source

Morgan Stanley on China’s mushrooming funding gap as the housing market comes apart. I have learned over time that MS is rather bullish on China so take its suggestions with a grain of salt.  There’s no health reason for China to pivot out of zero-COVID. Its vaccination rates have basically stalled and Sinopharm doesn’t work

The post China property rout opens yawning “funding gap” appeared first on MacroBusiness.

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The Australian Independent Media Network Tuesday, September 27, 2022 - 10:00 Source

Electric truck manufacturer SEA Electric has extended its commitment to the Australian market by doubling the size of its local assembly facility for zero-emission trucks in the Melbourne suburb of Dandenong. The company leads the world in terms of a comprehensive range of highly adaptable electric truck options, with its present plant expanding to now…

The post Australian EV Truck Manufacturer Doubles Assembly Capacity appeared first on The AIM Network.

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MacroBusiness Tuesday, September 27, 2022 - 09:40 Source

Stock markets around the world remain in retreat mode with concern over the Torynutters economic “plan” in the UK sending Pound Sterling to a record low and spiking bond market yields. The USD continues to strengthen against everything with Euro continuing its sharp drop below parity, with the Australian dollar still on the ropes, as

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Tuesday, September 27, 2022 - 09:20 Source

Here is Jim “chicken” Chalmers again late yesterday: Australia is not immune to a recession amid a struggling global economy, according to Jim Chalmers. “We won’t be completely immune from that… Our expectation is that the Australian economy will continue to grow, but so will the challenges to the Australian economy.” Addressing problems with skills

The post The extraordinary cost of Chicken Chalmers’ cowardice appeared first on MacroBusiness.

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MacroBusiness Tuesday, September 27, 2022 - 09:00 Source

We need to pan out today to get the full grasp of what’s happening. DXY is on a historic tear: AUD appears to be rolling into a historic bust reminiscent of previous Chinese busts: Oil is now officially deflationary, down year on year: I hope nobody bought Goldman’s commodities drivel: Big miners have all broken

The post Australian dollar nose dives into firey Chinese hell appeared first on MacroBusiness.

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Your Democracy Tuesday, September 27, 2022 - 06:58 Source

In 1974 in Kingston, Jamaica, aboard her yacht The Britannia, the Queen told me that ‘your Prime Minister had been ‘rude’ to my family.’ I was the Secretary of the Department of Prime Minister and Cabinet at the time.

 

BY JOHN MENADUE

 

Forgive me for mentioning it but when you read down you will understand.

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Your Democracy Tuesday, September 27, 2022 - 06:42 Source

The situation is very serious. Since 1700 three people have tried to take Moscow: Karl XII who lost his Swedish empire, Napoleon who lost his, Hitler who lost his… and now NATO / AUKUS, in which we are mindlessly participant. The US budget year begins with 830 billion for defence, 600 billion for nuclear refurbishment. Not news in Australia.

 

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Your Democracy Tuesday, September 27, 2022 - 06:22 Source

The Ukrainian government is being heavily supported with American money, with Washington contributing $1.5 billion per month to the budget, Ukraine’s President Vladimir Zelensky has revealed.

The sum was mentioned by the Ukrainian leader during an interview with CBS host Margaret Brennan for the ‘Face the Nation’ program, which was aired on Sunday.

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Renew Economy Tuesday, September 27, 2022 - 05:12 Source

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MacroBusiness Tuesday, September 27, 2022 - 00:10 Source

The Australian Bureau of Statistics (ABS) has released population and immigration data for the March quarter, which shows that we are well and truly back on board the ‘Big Australia’ train to oblivion. Net overseas migration (NOM) was 96,200 in the March quarter – the highest quarterly intake on record: This surge in NOM drove

The post Welcome back aboard the ‘Big Australia’ train to dystopia appeared first on MacroBusiness.

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MacroBusiness Tuesday, September 27, 2022 - 00:05 Source

Analysis by Canstar shows that the borrowing power of home buyers has been significantly reduced by the five consecutive official interest rate rises since May. Canstar estimates that a couple with a combined average income of $180,000 can now borrow $264,000 less than they could in April, when the official cash rate (OCR) was just

The post The great mortgage squeeze is on appeared first on MacroBusiness.

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MacroBusiness Tuesday, September 27, 2022 - 00:01 Source

Global Macro / Markets / Investing: Corporate greed, not wages, is behind inflation. It’s time for price controls – The Guardian Boomerang Millennials And Gen-Zers Are Returning Back Home – Forbes Inside Luxury Bunkers Where Ultra-Rich Prepare for Doomsday: Report – Business Insider Bond issuance spree as U.S. companies rush before more rate hikes –

The post Links 27 September 2022 appeared first on MacroBusiness.

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MacroBusiness Monday, September 26, 2022 - 22:00 Source

The Reserve Bank of Australia is poised to lift its headline interest rates yet again in early October, as other central banks worldwide lead the way in stamping down runaway inflation, and pressure is therefore being placed on the Aussie dollar. Having already hiked by 225 basis points since May and now up to 2.35%,

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The Australian Independent Media Network Monday, September 26, 2022 - 19:30 Source

By 2353NM   Her Majesty Queen Elizabeth II was buried last week with all the pomp and ceremony the occasion deserved. Regardless of your views on the monarchy, for a person to perform the one role for 70 years without a break is an awe-inspiring effort. Certainly there was help, resources and good fortune, but there…

The post Now is not the right time … appeared first on The AIM Network.

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Renew Economy Monday, September 26, 2022 - 19:12 Source

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Cheeseburger Gothic Monday, September 26, 2022 - 17:32 Source

They might even pay, given these look so similar to the goggles in Weapons of Choice. (And what’s a coupla mill’ extra from their procurement budget anyway?)

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MacroBusiness Monday, September 26, 2022 - 17:00 Source

Asian stocks start the new trading week in bear market mode, with  risk sentiment remaining in defensive positions as recession fears mount amid rising interest rates. The USD is building strength against the major currencies, while oil prices are continuing their drops from Friday night with Brent crude falling below the $85USD per barrel level

The post Macro Afternoon appeared first on MacroBusiness.

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Renew Economy Monday, September 26, 2022 - 16:12 Source

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Renew Economy Monday, September 26, 2022 - 15:39 Source

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John Quiggin Monday, September 26, 2022 - 14:50 Source

Back in 2011, I wrote a post arguing that

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Renew Economy Monday, September 26, 2022 - 13:56 Source

Yeppoon battery queensland

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MacroBusiness Monday, September 26, 2022 - 13:30 Source

Add Italy to your global tail risks list as a new fascist government romps home in the polls. TLombard with the note. Amid the avalanche of political commentary around next Sunday’s near-certain prospect of Italy electing its most right-wing government since WW2, markets will remain focused on the perennial Italy-related systemic risk to the Eurozone.

The post And now for some Italian fascists… appeared first on MacroBusiness.

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MacroBusiness Monday, September 26, 2022 - 13:30 Source

There is no more appropriate end to mankind than the developing new coal golden age. Futures are now priced at unimaginable prices for as far the eye can see: The global cost curve tops out at around $120 per tonne: Thus, the margins available for new and expanded mines are irresistible.  This will result in

The post Albo’s new coal golden age begins appeared first on MacroBusiness.

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MacroBusiness Monday, September 26, 2022 - 13:00 Source

The latest data from CoreLogic shows that rents nationally soared by 10.0% in the year to August – the fastest annual rate of increase on record: In a similar vein, SQM research posted the tightest rental vacancies on record in August, with just 0.9% of rental properties nationally vacant: The ABC has added further insight

The post “Extraordinary” rental crisis about to get much worse appeared first on MacroBusiness.

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MacroBusiness Monday, September 26, 2022 - 12:30 Source

A bunch of economists have warned that the Reserve Bank of Australia’s (RBA) aggressively monetary tightening will likely drive Australia into recession next year. Leading the charge is Barrenjoey chief economist, Jo Masters, who says a recession is “on the cards” for Australia because the RBA will be forced to lift the official cash rate

The post Lunatic RBA to plunge Australia into recession appeared first on MacroBusiness.

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Renew Economy Monday, September 26, 2022 - 12:29 Source

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MacroBusiness Monday, September 26, 2022 - 12:00 Source

What do you do when inflation takes hold of your economy, wages soar, yield spreads explode with an external deficit, and the currency collapses? Pretty much what the US is doing. Hike rates. Fiscal consolidation. And take your adjustment. Not this! Deutsche: Britain’s new finance minister Kwasi Kwarteng unleashed historic tax cuts and huge increases

The post Desperado UK turns to voodoo economics appeared first on MacroBusiness.

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MacroBusiness Monday, September 26, 2022 - 11:40 Source

The Canberra bubble is now a hermetically sealed mendacious dome under which lies prosper and public interest dies. Witness treasurer Jim “Chicken” Chalmers describe his own economic and budget wreckage today: The Albanese government will trim spending in the upcoming federal budget as part of efforts to trim Australia’s $1 trillion national debt, Treasurer Jim

The post Arrest Chicken Chalmers for treason appeared first on MacroBusiness.

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MacroBusiness Monday, September 26, 2022 - 11:20 Source

Just when you thought Australia’s bond market couldn’t get any crazier on interest rates, on Friday it tipped Australia’s official cash rate (OCR) to peak at 4.15% by mid-2013: If the bond market’s forecast came true, it would mean Australia’s OCR would rise by around 4.0% in just one year – easily the fastest increase

The post Insane bond market tips interest rate Armageddon appeared first on MacroBusiness.

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Renew Economy Monday, September 26, 2022 - 11:03 Source

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