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Renew Economy Tuesday, January 18, 2022 - 14:39 Source

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MacroBusiness Tuesday, January 18, 2022 - 14:30 Source

  Global Trends         Africa Europe       Americas     Asia     Australia         More COVID-19 Statistics and Analysis See our latest blog posts or podcasts here. Please visit the Our World in Data  Coronavirus data Dashboard for individual country data. Data sources This is a

The post Weekly COVID-19 (Coronavirus) statistics and analysis flipbook appeared first on MacroBusiness.

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MacroBusiness Tuesday, January 18, 2022 - 14:00 Source

Earlier this month, I tipped that New Zealand’s housing market was poised for a correction after experiencing record breaking growth of 27.6% 2021, according to CoreLogic: Today, the REINZ released its house price index for December, which recorded a 1.6% monthly decline; although prices were still up 21.5% over the calendar year: The next table

The post New Zealand’s housing correction begins appeared first on MacroBusiness.

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MacroBusiness Tuesday, January 18, 2022 - 13:30 Source

By Gareth Aird, head of Australian economics at CBA: Key Points: The flood of new daily cases of COVID-19 since late 2021 has caused significant economic disruption that looks likely to be sustained over the next few months. Production, hours worked and consumption will all be hit over early 2022 due to COVID-related isolation requirements

The post What does the COVID explosion mean for the economy? appeared first on MacroBusiness.

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The Australian Independent Media Network Tuesday, January 18, 2022 - 13:26 Source

When Barnaby Joyce regained the leadership of the Nationals in June last year, no-one could have been more happy than his dear friend and supporter, Gina Rinehart. She immediately offered to host a party for him.  Those VIPs lucky enough to secure an invitation to spend an evening with Barnaby and Gina at her palatial…

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Renew Economy Tuesday, January 18, 2022 - 13:24 Source

Victorian energy minister Lily D'Ambrosio

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Renew Economy Tuesday, January 18, 2022 - 13:21 Source

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MacroBusiness Tuesday, January 18, 2022 - 13:17 Source

Queensland recorded 15,962 new COVID cases over the past 24 hours alongside a record 16 deaths: The next chart plots the flow of daily cases across Queensland: Active cases are steady at 86,561: Whereas hospitalisations have risen to 819, with 50 in ICU: Queensland has recorded 45 deaths since the state border opened on 13

The post Queensland’s deadliest COVID day appeared first on MacroBusiness.

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MacroBusiness Tuesday, January 18, 2022 - 13:00 Source

The reopening of Australia’s international border saw a solid increase in overseas arrivals and departures in November, according to new data published today by the ABS: There were 197,000 overseas arrivals to Australia and 229,000 overseas departures from Australia in December 2021, the highest volumes since international travel restrictions were introduced in March 2020, according

The post Immigration into Australia still negative appeared first on MacroBusiness.

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MacroBusiness Tuesday, January 18, 2022 - 12:30 Source

FTAlphaville with the update: Oh dear oh dear oh dear. Just when you thought you might have got away with ripping some images from the internet to make a cartoon about a fake crypto paradise island that some people seem to believe might actually one day exist and flogging some NFTs on the back of it

The post Crypotland strikes back! appeared first on MacroBusiness.

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Renew Economy Tuesday, January 18, 2022 - 12:03 Source

 Griffith Business School).

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MacroBusiness Tuesday, January 18, 2022 - 12:00 Source

Liberal MP Jason Falinski, who is the chairman of the parliamentary inquiry into housing affordability and supply, has penned a contradictory propaganda piece in The Australian claiming that Australia’s housing woes are caused entirely by a ‘lack of supply’, which is supposedly unaffected by mass immigration: For years governments, through inaction or special interest lobbying,

The post Jason Falinski: Immigration has no impact on housing supply appeared first on MacroBusiness.

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MacroBusiness Tuesday, January 18, 2022 - 11:40 Source

Ah yes, freedom Morrison Government style. Freedom for mates that is: The shortage of rapid antigen tests for consumers is being exacerbated by state and federal governments and large corporates placing mammoth orders for the kits, causing stock to be diverted from online retailers and pharmacies. Australia is in the middle of a huge Omicron

The post Morrison’s freedom for mates, plague enslavement for you appeared first on MacroBusiness.

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Renew Economy Tuesday, January 18, 2022 - 11:28 Source

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MacroBusiness Tuesday, January 18, 2022 - 11:20 Source

From RIO’s freshly minted Dec QTR production report: Iron ore shipments and bauxite production guidance remain subject to weather and market conditions. Our guidance assumes development of the pandemic does not lead to government-imposed restrictions and widespread protracted cases related to new highly contagious variants with high severity, which could result in a significant number

The post RIO ushers in iron more appeared first on MacroBusiness.

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Renew Economy Tuesday, January 18, 2022 - 11:19 Source

sun cable 5b solar northern territory optimised

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MacroBusiness Tuesday, January 18, 2022 - 11:00 Source

Treasurer Josh Frydenberg has kicked off the election cycle by scaremongering over Labor’s “class warfare”: “Anthony Albanese has spent his whole career arguing for higher taxes whether it was the retirees tax or the housing tax or the super tax, and a big supporter of the carbon tax and the mining tax”… “Anthony Albanese has

The post Frydenberg plays class warfare card as billionaires double wealth appeared first on MacroBusiness.

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MacroBusiness Tuesday, January 18, 2022 - 10:40 Source

CoreLogic has released its Pain & Gain report for the September quarter of 2021, which reveals that 92.4% of vendors recorded a nominal profit-making gain from the previous purchase price, up from 87.5% in the Sept 2020 quarter. This was the highest proportion of profit making sales in more than a decade: The combined value

The post Aussie property vendors banked $27b of profits in Q3 appeared first on MacroBusiness.

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Your Democracy Tuesday, January 18, 2022 - 10:38 Source

gouginggouging

Retailers charging “beyond outrageous” prices for rapid antigen tests are being referred to the federal police for investigation, as supply issues continue to hamper Australia’s testing regime.

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MacroBusiness Tuesday, January 18, 2022 - 10:20 Source

From the ANZ: ANZ Roy Morgan Australian Consumer Confidence dropped 7.6% last week, to its lowest reading since October, as Omicron case numbers surge. #ausecon @DavidPlank12 @RoyMorganAus pic.twitter.com/5fFBMqvpqi — ANZ_Research (@ANZ_Research) January 17, 2022 Hoocoodanode that the people of Australia would react so badly to being sprayed by plague while their government withdrew all health

The post Morrisons plague tanks consumer confidence appeared first on MacroBusiness.

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MacroBusiness Tuesday, January 18, 2022 - 10:00 Source

The ferrous complex fell further on January 17: Chinese data delivered pretty much what I expected. Property starts are in free fall, down 31% in December and at their deepest falls ever on year-on-year in the quarter: There is some offset in infrastructure coming. Pantheon: As with exports, the pivot toward consumption will likely fade

The post Daily iron ore price update (brace!) appeared first on MacroBusiness.

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MacroBusiness Tuesday, January 18, 2022 - 09:40 Source

According to a useless AFR: I assume the subbies are joking. Yesterday’s stimulus was minor and, in context, dangerously so for those dependent upon Chinese property demand. The Chinese property market has a much larger problem than yesterday’s stimulus suggests. The liquidity crisis engulfing property developers is accelerating as it sucks in the good as

The post Chinese property hurtles towards ‘Lehman moment’ appeared first on MacroBusiness.

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MacroBusiness Tuesday, January 18, 2022 - 09:35 Source

NSW recorded 29,830 new COVID cases over the past 24 hours alongside 36 deaths: Victoria recorded 20,180 new cases and 22 deaths: Daily cases since the beginning of the Delta waves last winter are plotted below: Active cases across both NSW and Victoria seem to have passed their peak: Hospitalisations are still rising in NSW:

The post Aussie COVID deaths soar appeared first on MacroBusiness.

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MacroBusiness Tuesday, January 18, 2022 - 09:20 Source

Hoocoodanode that unleashing a plague on an unsuspecting and unsupported polity would make you unpopular? In my view, the Resolve Political Monitor is the most Coalition-biased political survey in the press. Yet even it has delivered a bowel-shaking crash in Morrison Government support: Soaring virus infections have fuelled a backlash against Prime Minister Scott Morrison

The post Morrison’s plague crashes polls appeared first on MacroBusiness.

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MacroBusiness Tuesday, January 18, 2022 - 09:00 Source

Anyone with a memory longer than a goldfish will know that the last time Australia was fighting a combined falling commodity price and rising wages outlook was in the late 1980s: The Prices and Incomes Accord was an agreement between the Australian Council of Trade Unions and the Australian Labor Party government of Prime Minister Bob Hawke and Treasurer (later Prime Minister) Paul Keating in 1983. Employers

The post Albo needs an “immigration accord” appeared first on MacroBusiness.

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Your Democracy Tuesday, January 18, 2022 - 08:53 Source

friends...friends...

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MacroBusiness Tuesday, January 18, 2022 - 08:30 Source

Stock markets were relatively buoyant overnight due to the holiday on Wall Street plus the lack of economic releases, although the calendar plays catchup today with the latest BOJ interest rate meeting leading the charge here regionally. With US bond markets closed, there was no impetus there for change with the 10 year yield likely

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Tuesday, January 18, 2022 - 08:19 Source

DXY was up again last night: Australian dollar was mixed: Oil is still hot: Dirt mixed: Miners soft: EM stocks softer: EM debt softest: US markets were closed for Martin Luther King Day. Westpac has the wrap: Event Wrap Italian CPI inflation in December was finalised unchanged from the preliminary at 4.2%y/y). Canadian manufacturing sales rose 2.6%m/m

The post Australian dollar weakens as Fed warms up appeared first on MacroBusiness.

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Your Democracy Tuesday, January 18, 2022 - 06:52 Source

melburn...melburn...

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MacroBusiness Tuesday, January 18, 2022 - 00:10 Source

At the same time as employer groups are complaining of acute “skills shortages”, and are begging the federal government to open the immigration floodgates, they are pushing back against the unions’ “unsustainable” demands for 3% wage rises: Key unions have vowed to pursue “significant” annual pay rises of at least 3 per cent in 2022…

The post Employers: 3% wage growth risks jobs. Give us migrants instead! appeared first on MacroBusiness.

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