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MacroBusiness Friday, April 19, 2024 - 00:05 Source

The National Bank of Canada has derided the government’s mythical plan to build 3.87 million new homes by 2031. This target would require an average annual run rate of 550,000 housing starts per year, about double the record high of 270,000 units in 2021. National Bank of Canada notes, “we’re also going to need people

The post Why Australia will never build enough homes appeared first on MacroBusiness.

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Renew Economy Thursday, April 18, 2024 - 21:19 Source
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Your Democracy Thursday, April 18, 2024 - 20:48 Source

Björn Höcke, the chair of the far-right Alternative for Germany party (AfD) in the eastern state of Thuringia, stands accused of intentionally deploying a slogan used by the Nazi party's paramilitary wing in a speech at a campaign rally.

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MacroBusiness Thursday, April 18, 2024 - 16:30 Source

Asian stock markets are trying to rebound from a bad trading week so far following the escalation in conflict across the Middle East, with yet more hawkish Fedspeak overnight not helping risk sentiment . The USD remains strong against most of the undollars but had a small retracement while bond markets calmed down as well.

The post Macro Afternoon appeared first on MacroBusiness.

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Your Democracy Thursday, April 18, 2024 - 15:31 Source

Speaker of the US House of Representatives Mike Johnson announced on Wednesday that he is sticking with his plan to send a series of foreign aid bills to the floor, including those for funding for Ukraine and Israel. Johnson said in a note to legislators that they'll vote on these on Saturday evening.

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John Quiggin Thursday, April 18, 2024 - 15:19 Source

In all the discussion of Leif Wenar’s critique of Effective Altruism , I haven’t seen much mention of the central premise: that development aid is generally counterproductive (unless, perhaps, it’s delivered by wealthy surfers in their spare time). Wenar is quite clear that his argument applies just as much to official development aid and to the long-standing efforts of NGOs as to projects supported by EA. He quotes burned-out aid workers “hoping their projects were doing more good than harm.”

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Renew Economy Thursday, April 18, 2024 - 15:12 Source
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Renew Economy Thursday, April 18, 2024 - 14:54 Source
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MacroBusiness Thursday, April 18, 2024 - 14:30 Source

The Useful Idiot is up to its old tricks again today: They’re close to the city, public transport, schools and parks – and Melbourne’s leafy eastern suburbs should be shouldering the burden when it comes to new housing, according to a new report. The report, by housing advocacy group Yimby Melbourne and published on Thursday, recommends

The post More YIMBY useful idiots appeared first on MacroBusiness.

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Renew Economy Thursday, April 18, 2024 - 14:06 Source
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The Australian Independent Media Network Thursday, April 18, 2024 - 14:05 Source

By Bert Hetebry   Having worked for many years with a diverse number of people from different ethnic groups and religions, and some with no religion, I was impressed that despite the differences, everybody seemed to get along. Being interested, I asked people about their faith, and found that people held their faith and cultural traditions…

The post Religious violence appeared first on The AIM Network.

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MacroBusiness Thursday, April 18, 2024 - 14:00 Source

AEP with his take on why gold has decoupled from traditional drivers. There is a strong suspicion among gold experts that China is behind the surge in buying, building up a war-fighting bullion chest through state-controlled banks and proxies. But others, too, can see that we are living through a fundamental convulsion of the global

The post Gold forecasting Trumpian “dystopia”? appeared first on MacroBusiness.

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MacroBusiness Thursday, April 18, 2024 - 13:30 Source

Rex Patrick has dug into how Pistol Pete Dutton reached his nuclear conclusions. In September 2020, the Morrison Government released a Low Emissions Technology Statement that placed Small Modular Reactors (SMR) on a list of watching brief technologies. SMR developments were to be monitored to see if they might play a part in Australia’s energy

The post Pistol Pete shoots nuclear from the hip appeared first on MacroBusiness.

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Renew Economy Thursday, April 18, 2024 - 13:29 Source
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MacroBusiness Thursday, April 18, 2024 - 13:00 Source

The inaugural chair of the Productivity Commission, Gary Banks, has joined the pile-on against the Albanese government’s “Future Made” subsidies for low-emissions manufacturing. In a speech to the Centre for Independent Studies (CIS), Banks described the subsidies as a “fool’s errand” that would embed waste and lower the nation’s productivity: “Seeking to obtain benefits to

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MacroBusiness Thursday, April 18, 2024 - 12:30 Source

Statistics Canada released the consumer price index (CPI) for the March quarter. The CPI rose 2.9% year-over-year in March, up from a 2.8% gain in February. Excluding gasoline prices, CPI slowed to a 2.8% year-over-year increase, down from a 2.9% gain in February. The below chart from Justin Fabo at Antipodean Macro compares Canada’s core

The post Bank of Canada to cut rates first? appeared first on MacroBusiness.

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MacroBusiness Thursday, April 18, 2024 - 12:05 Source

Join us in this week’s investment podcast as Nucleus Wealth’s Chief Investment Officer Damien Klassen dissects the war, its effect on the oil price, and the oil price’s effect on inflation. Can’t make it to the live series? Catch up on the content via Podcasts or our recorded Videos. Damien Klassen is Chief Investment Officer at the Macrobusiness Fund,

The post MB Fund Podcast: War, Oil and Inflation appeared first on MacroBusiness.

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MacroBusiness Thursday, April 18, 2024 - 12:00 Source

Big. Ironically. Morgan Stanley with the report. Our base case = $105bn global obesity market in 2030 Extrapolating the strong early dynamics in the US and the initial demand in Europe (focusing on the roll-outs in Denmark, Norway and Iceland, where supply was not constrained), we now project the global obesity market to reach $105bn

The post How big is Peak Fat? appeared first on MacroBusiness.

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MacroBusiness Thursday, April 18, 2024 - 11:53 Source

The Australian Bureau of Statistics (ABS) has released labour market data for March, which shows that the nation’s unemployment rate rose by 0.1% to 3.8% following a 6.,600 contraction in the number of jobs: The result beat analysts’ expectations of a 3.9% rate. The underemployment rate also fell by 0.1% over the month to 6.5%,

The post Australia’s unemployment charade continues appeared first on MacroBusiness.

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The Australian Independent Media Network Thursday, April 18, 2024 - 11:51 Source

UNSW Media Release Australia’s rising cost of living is squeezing household budgets, and with high fuel prices and public transport costs increasing, many Australians face the reality that the expense of commuting to work may no longer be financially sustainable. The Australian Commute report showed that the average daily cost for an Australian to get to and…

The post Can you afford to travel to work? appeared first on The AIM Network.

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The Australian Independent Media Network Thursday, April 18, 2024 - 11:35 Source

By James Moore   The only feature not mentioned was drool. On his second day in court, charged with multiple felonies, the putative leader of the free world once more fell asleep. The man who has called the current president, “Sleepy Joe Biden,” cannot keep his eyes open in the midst of a trial that may…

The post A Ghost in the Machine appeared first on The AIM Network.

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MacroBusiness Thursday, April 18, 2024 - 11:30 Source

The latest housing construction data from the Australian Bureau of Statistics (ABS) is a disaster. Only 37,200 homes commenced in the December quarter in trend terms, the worst quarterly result since June 2012. This gives an annual run rate of 148,800, around 91,000 below the Albanese government’s construction target of 240,000 homes annually. Dwelling approvals

The post HIA sounds housing alarm appeared first on MacroBusiness.

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Renew Economy Thursday, April 18, 2024 - 11:22 Source
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Renew Economy Thursday, April 18, 2024 - 10:41 Source
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Renew Economy Thursday, April 18, 2024 - 10:39 Source
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Renew Economy Thursday, April 18, 2024 - 10:35 Source
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MacroBusiness Thursday, April 18, 2024 - 10:30 Source

Go Straya: Chemicals major Qenos has called in voluntary administrators after its former Chinese owners sold the company to property developer Logos. The plastics maker runs plants in Victoria and NSW, and on Wednesday appointed McGrathNicol as voluntary administrators. I’m not sure who will want to live there. The  Qenos factory site is putrid: But

The post Can’t make plastic, can make people appeared first on MacroBusiness.

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MacroBusiness Thursday, April 18, 2024 - 10:18 Source

The trade war is back: The new tariffs Biden is pushing — meant to shore up the American steel sector and court its workers — would impose 25% levies on certain Chinese steel and aluminum products. They would be applied as part of an ongoing review, while the US also launches a formal probe into

The post US steel tariffs another blow to iron ore appeared first on MacroBusiness.

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Your Democracy Thursday, April 18, 2024 - 10:12 Source

Israel planned to retaliate against Iran immediately following Tehran’s drone and missile attack on Saturday, but Prime Minister Benjamin Netanyahu decided to hold off after speaking with US President Joe Biden, Israeli media have reported.

According to the public broadcaster Kan, the war cabinet in West Jerusalem had already approved a range of responses – depending on the scope of the Iranian attack – that would have taken place as early as Sunday. 

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xkcd.com Thursday, April 18, 2024 - 10:00 Source

Okay, this eclipse will only be visible from the Arctic in February 2063, when the sun is below the horizon, BUT if we get lucky and a gigantic chasm opens in the Earth in just the right spot...

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