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Renew Economy Thursday, May 25, 2023 - 15:14 Source

Vestas wind turbines and RES dulacca wind farm qld

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MacroBusiness Thursday, May 25, 2023 - 14:00 Source

Goldman Sachs (via Shane Oliver on Twitter) has published the below chart tracking the house price busts across various developed nations: New Zealand leads the decline, with values down 17.6% from their November 2021 peak, led by Auckland (-22.8%) and Wellington (-25.6%): Interestingly, home values across various countries (i.e. Australia, Canada, US, Germany and the

The post New Zealand leads global house price bust appeared first on MacroBusiness.

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MacroBusiness Thursday, May 25, 2023 - 13:30 Source

CBA’s latest Card Spending report suggests that real spending growth is falling fast: Credit and debit card spending rose 1.2% month-on-month in April, which comes after softer growth in February (+0.1%) and march (-0.2%). The annual growth rate is still positive, but has slowed sharply to 10.1%. Economist Harry Ottley says that “growth in our

The post CBA: Consumer spending weakening appeared first on MacroBusiness.

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Renew Economy Thursday, May 25, 2023 - 13:22 Source

AGL torrens island b battery gas plant

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Renew Economy Thursday, May 25, 2023 - 13:18 Source

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MacroBusiness Thursday, May 25, 2023 - 13:00 Source

Australia’s quarterly dwelling construction data shows that there is a gaping gap between dwelling approvals and commencements and dwelling completions: Because of this disconnect, Australia’s dwelling construction pipeline was sitting at a high 238,000 in the December quarter of 2022: Last week, reports emerged that thousands of homes approved for construction have been put on

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MacroBusiness Thursday, May 25, 2023 - 12:30 Source

Environment and Water Minister Tanya Plibersek, told Question Time this week (video below) that no government in Australian history has done more for the environment than the Albanese Labor government. “No government in Australian history has done more for the environment than the Albanese Labor Government”, Plibersek said during parliamentary Question Time on Tuesday. “We

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Your Democracy Thursday, May 25, 2023 - 12:25 Source

The times, they have changed

 

https://www.youtube.com/watch?v=aR-JGWB6UA4

 

 

MAKE A DEAL PRONTO BEFORE THE SHIT HITS THE FAN:

 

 

NO NATO IN "UKRAINE" (WHAT'S LEFT OF IT)

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MacroBusiness Thursday, May 25, 2023 - 12:05 Source

From an investment perspective, betting on vested interests to win the issue of the day has been an easy bet for the last few decades. While Nucleus admits this is no way to run a country, it is hard to invest for a different outcome when vested interests keep winning at the expense of the

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MacroBusiness Thursday, May 25, 2023 - 12:00 Source

The Albanese Government continues to generate terrific results for Australia’s working poor who are now living for free in parks. Accusations that Albo’s open borders nutters are the most right-wing “labor” government of all time simply don’t stack up. In Mad Albo’s own electorate of Marrickville, his government has generated enormous employment opportunities for charitable

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Renew Economy Thursday, May 25, 2023 - 11:51 Source

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Renew Economy Thursday, May 25, 2023 - 11:47 Source

PAREPportaugustaTransmissonLines.jpg

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MacroBusiness Thursday, May 25, 2023 - 11:40 Source

Who can forget Goldman and Zoltan Pozar’s commodity mania of 2022 when even a declining China was positive? Super cycles all around it was! As we warned then, supercycles do not begin with minor wars triggering panicked prices in narrow markets. These are the circumstances of short-term price spikes, supply responses, and price crashes. Not

The post Goldman’s “commodity supercycle” turns dumpster fire apology appeared first on MacroBusiness.

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Club Troppo Thursday, May 25, 2023 - 11:21 Source

This post is rather long. If you want a point form summary, scroll down to the bottom. Secondly, this post does not represent the views of anyone else but me.

As part of his pre-election platform, the now PM promised to get an aboriginal Voice into the constitution during this parliament.

Since Albo basically controls both houses on this issue, we will almost certainly be asked to vote on his recently proposed proposed wording (emphasis added):

There shall be a body, to be called the Aboriginal and Torres Strait Islander Voice

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MacroBusiness Thursday, May 25, 2023 - 11:20 Source

Mwahaha. Households will face electricity prices rises of between 19.6 per cent and 24.9 per cent from July 1, after a final determination from the Australian Energy Regulator. The final default market offer unveiled by the AER on Thursday morning is slightly higher than the 19.5 per cent to 23.7 per cent forecast in the

The post There goes Chicken Chalmer’s energy bill relief appeared first on MacroBusiness.

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MacroBusiness Thursday, May 25, 2023 - 11:00 Source

The Grattan Institute should always be viewed with suspicion on immigration policy. Why? Because its immigration “research” is sponsored by the pro-Big Australia Scanlon Foundation, which was established by real estate developer and rich lister Peter Scanlon: As explained by the Herald-Sun’s John Masanauskas in 2009 (link no longer active): MAJOR investor and former Elders

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MacroBusiness Thursday, May 25, 2023 - 10:40 Source

As many household budgets reach breaking point, new research from Finder reveals that millions of Australians are working extra hours to cope with financial hardship. According to the Finder survey of 1078 people, nearly one in every four employees (24%), or 4.8 million workers, have taken on a second job, worked longer hours, or even

The post Overstretched Aussies work two jobs as real wages collapse appeared first on MacroBusiness.

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Your Democracy Thursday, May 25, 2023 - 10:34 Source

 

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MacroBusiness Thursday, May 25, 2023 - 10:20 Source

The Market Ear has more. Fat and flat mania lives on Everybody got excited about the break out in SPX, got sucked in, just to realize that the “fat and flat” narrative remains intact. The big range is intact, and for the short term, we are approaching the first supports around 4100… Refinitiv NASDAQ –

The post AI bubble turns outright mania appeared first on MacroBusiness.

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MacroBusiness Thursday, May 25, 2023 - 10:00 Source

Reserve Bank of Australia governor Philip Lowe briefed members of parliament’s economics committee yesterday. According to The AFR, Lowe told federal MPs that he had no tolerance for prolonged high inflation and would do whatever it took to bring it down, leaving them with no doubt that he is not done raising interest rates. Lowe’s

The post RBA to hike until economy breaks appeared first on MacroBusiness.

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MacroBusiness Thursday, May 25, 2023 - 09:40 Source

Iron ore broke yesterday, as expected, led lower by steel futures which are indicating worse ahead for dirt: Spot is at $97.83: CISA released mid-May output numbers and mills are still overproducing which is driving down prices: The problem is that dead ahead is this: “In the medium term, the crude steel production control policy

The post Iron awful appeared first on MacroBusiness.

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MacroBusiness Thursday, May 25, 2023 - 09:20 Source

I am still at a loss why there is silence around this. Gas prices are today double Albo’s price cap of $12Gj in NSW and VIC. The consequences for electricity prices speak for themselves: At these prices, utility bills will not only swamp Budget relief, but they will also rise by two-thirds. This will add

The post Albo’s energy shock goes nuclear appeared first on MacroBusiness.

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MacroBusiness Thursday, May 25, 2023 - 09:00 Source

The release of the latest FOMC minutes and continued US debt ceiling negotiations kept risk markets in selling territory overnight on both sides of the Atlantic again. Currency markets fled to the safety of USD with Euro smacked below its previous weekly low while the Australian dollar collapsed under the weight of the Federal Reserve’s

The post Macro Morning appeared first on MacroBusiness.

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Your Democracy Thursday, May 25, 2023 - 08:53 Source

For those familiar with the ongoing prosecution of Julian Assange by the United States, a brutal carnivalesque endeavour that continues to blight that legal system, there is not much to be said. Assange is a political prisoner who must be freed. But the task remains for those like Stella Assange to convince politicians and journalists to embrace that course.

 

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MacroBusiness Thursday, May 25, 2023 - 07:08 Source

DXY is up and away: AUD is at a new 2023 low and in free fall: Gold is in trouble. Oil as bid: I hope you’re enjoying Zoltan’s and Goldman’s “commodity super cycle”: Miner touched the void: EM stands for Exit Markets: Treasuries are pricing out Fed cuts as the AI bubble runs riot. The

The post Australian dollar pulverised to new 2023 low appeared first on MacroBusiness.

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The Australian Independent Media Network Thursday, May 25, 2023 - 06:18 Source

In the conurbation that is South East Queensland, most of the towns that have been consumed by population growth still have their agricultural show. The Ipswich Show was held last weekend. Apart from all the ‘fun of the fair’ that you would expect most local politicians were represented by stalls in the exhibitions area, where…

The post Education at the Showground appeared first on The AIM Network.

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Cheeseburger Gothic Thursday, May 25, 2023 - 05:13 Source

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MacroBusiness Thursday, May 25, 2023 - 00:05 Source

Prime Minister Anthony Albanese visited India in March, when he inked a Memorandum of Understanding (MoU) to make it simpler for Indians to work and study in Australia. According to the Mechanism for Mutual Recognition of Qualifications, Australia must recognise Indian vocational and university graduates to be “holding the comparable AQF qualification for the purposes

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MacroBusiness Thursday, May 25, 2023 - 00:01 Source

Global Macro / Markets / Investing: Disney Terminating Thousands of Employees Effective Immediately – Inside the Magic CEO of biggest carbon credit certifier to resign after claims offsets worthless – The Guardian The destruction of nature threatens the world economy. It’s time to outlaw it as a serious financial crime – Fortune Following UK antitrust

The post Links 25 May 2023 appeared first on MacroBusiness.

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Renew Economy Thursday, May 25, 2023 - 00:01 Source

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