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MacroBusiness Thursday, November 23, 2023 - 10:30 Source

Australia is witnessing an unparalleled influx of international students. The most recent data on temporary visas provided by the Department of Home Affairs revealed that a record 664,200 student visas were on issue in September, representing an annual growth of 306,300: As you can see above, student visa numbers in September were around 110,000 higher

The post International student numbers must be cut appeared first on MacroBusiness.

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Cheeseburger Gothic Thursday, November 23, 2023 - 10:19 Source

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MacroBusiness Thursday, November 23, 2023 - 10:00 Source

The fake left masthead known as The Guardian is up to its old tricks again. The paper never mentions mass immigration and excessive demand concerning rolling crises in housing, environment and carbon, water security, infrastructure, etc. Now, it has taken this approach to a crisis in legal aid: Almost half a billion dollars in extra

The post The Guardian’s crediblity collapses into systematic corruption appeared first on MacroBusiness.

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MacroBusiness Thursday, November 23, 2023 - 09:30 Source

US bond markets and the USD rose again on some interesting secondary data overnight as initial jobless claims came in softer than expected, giving Wall Street a small mid-week boost after flagging momentum. The Australian dollar fell back from its three month high but remains above the 65 cent level while Euro broke below the

The post Macro Morning appeared first on MacroBusiness.

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Renew Economy Thursday, November 23, 2023 - 09:07 Source

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MacroBusiness Thursday, November 23, 2023 - 09:00 Source

Rookie Reserve Bank of Australia (RBA) governor, Michele Bullock, stupidly chose to attack spending on dentists and hairdressers for driving up Australia’s CPI inflation. Speaking to a room full of bank economists at the Australian Business Economists dinner on Wednesday, Bullock said that Australia’s inflation was mostly home grown and required households to pull back

The post Lunatic RBA smashes wrong inflation targets appeared first on MacroBusiness.

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Renew Economy Thursday, November 23, 2023 - 08:55 Source

CSIRO_ScienceImage_9227_Eraring_Power_Station

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MacroBusiness Thursday, November 23, 2023 - 00:05 Source

The baby boomer generation has won the intergenerational lottery. Successive Australian governments have stacked policy in favour of older residents at the expense of the young. We have provided older Australians with substantial tax benefits. Older Aussies can earn significant incomes that are mostly tax-free, whereas younger Aussies earning the same amount are required to

The post It sucks to be young in Australia appeared first on MacroBusiness.

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MacroBusiness Thursday, November 23, 2023 - 00:01 Source

Earlier this month, PropTrack reported that Australian dwelling values hit a fresh record high in October after recovering all of the losses following the commencement in the RBA’s rate-hiking cycle in May 2022: Now CoreLogic’s daily dwelling values index has recovered to a record high after falling 7.5% from its April 2022 peak: CoreLogic Research

The post Australian house prices are ‘back in black’ appeared first on MacroBusiness.

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Renew Economy Wednesday, November 22, 2023 - 22:30 Source

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Your Democracy Wednesday, November 22, 2023 - 16:43 Source

Kiev’s threats to assassinate Russian President Vladimir Putin are nothing new, but have mostly remained in the realm of narratives as opposed to reality, Kremlin spokesman Dmitry Peskov said on Tuesday.

“If you remember, there have been verbal attempts on Putin’s life from Ukraine many times at various levels,” Peskov told journalist Pavel Zarubin. “They will not succeed.”

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MacroBusiness Wednesday, November 22, 2023 - 16:30 Source

Asian share markets are mostly in a flat mood, reflecting the lack of positive sentiment across the risk complex with King Dollar still lifting slightly after its recent reversal, but the Australian dollar continues to hold on to its new monthly high above the 65 cent level. Oil prices are trying to stabilise but barely

The post Macro Afternoon appeared first on MacroBusiness.

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Renew Economy Wednesday, November 22, 2023 - 16:02 Source

rooftop solar Western Australia

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Renew Economy Wednesday, November 22, 2023 - 15:11 Source

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Renew Economy Wednesday, November 22, 2023 - 15:07 Source

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The Australian Independent Media Network Wednesday, November 22, 2023 - 14:45 Source

Now the police want to influence immigration policy. I blame it entirely on Peter Dutton, of course. For a retired policeman, he seems not to understand the most basic tenets of our legal system. How Australian democracy works Put simply, so that even coalition politicians can understand, the plan is that we, the people, elect…

The post Let us punish immigration detainees twice appeared first on The AIM Network.

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MacroBusiness Wednesday, November 22, 2023 - 13:30 Source

Goldman with the note. Korea’s workday-adjusted exports in the first 20 days of November dropped 7.7%mom sa, pulling back from a 7.1% gain last month. Excluding volatile exports of ships and oil products, the pullback was limited to 1.5%, while total exports without work-day adjustments contracted 4.9%. Semiconductor exports also pulled back modestly after three

The post Global trade canary gasps appeared first on MacroBusiness.

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Renew Economy Wednesday, November 22, 2023 - 13:25 Source

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MacroBusiness Wednesday, November 22, 2023 - 13:00 Source

Earlier this month, economist Steve Hamilton penned one of the worst immigration spruiks in history: The optimal level of immigration is infinity, according to Hamilton: Why? Because there are only benefits from immigration and zero negative externalities, because that’s what globalist international organisations like the IMF and OECD say: “The IMF states that “immigration significantly increases

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MacroBusiness Wednesday, November 22, 2023 - 12:42 Source

Just in case you thought it was safe to go back into the economy. A chart from Coollabah Capital: Job losses are incoming.

The post Aussie bankrupticies go bananas appeared first on MacroBusiness.

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MacroBusiness Wednesday, November 22, 2023 - 12:30 Source

Roy Morgan has released its latest mortgage stress survey, which was taken before this month’s 0.25% hike in the official cash rate (OCR) by the Reserve Bank of Australia (RBA). It shows that mortgage stress nationally eased slightly, with 1,514,000 mortgage holders (30.1%) “at risk” of mortgage stress in the three months to October: “The

The post Mortgage stress calm before the storm appeared first on MacroBusiness.

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Renew Economy Wednesday, November 22, 2023 - 12:06 Source

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MacroBusiness Wednesday, November 22, 2023 - 12:00 Source

Spot gas is still glued to Albo’s ridiculous $12Gj ceiling: This continues to lift wholesale electricity prices: Because the wind is not blowing: Power futures are still roughly double historic rates as they price more coal plant exits: As Albo’s dills do nothing to fix any of it, state governments are creaming it off you

The post Labor rorts energy bills alongside gas cartel appeared first on MacroBusiness.

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MacroBusiness Wednesday, November 22, 2023 - 11:30 Source

Australia’s rental market is in crisis following the collapse in vacancy rates to a record low 0.9% across the combined capital cities: The acute shortage has driven advertised rents up by around 30% since the start of the pandemic, causing severe financial pain for lower-income Australians: SQM Research managing director, Louis Christopher, believes the situation

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MacroBusiness Wednesday, November 22, 2023 - 11:19 Source

 Westpac with the note. Leading Index growth rate dips to –0.40%. Economy set to remain stuck in ‘low growth rut’ well into next year. Range of headwinds continues despite improvement since start of the year. Components show cooling labour market, unsettled financial markets and shaky confidence are now the main weak spots. The Leading Index

The post Leading index pukes appeared first on MacroBusiness.

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MacroBusiness Wednesday, November 22, 2023 - 11:00 Source

The Albanese government’s target of a 43% reduction in carbon emissions by 2030 is partly based on expectations that electric vehicles would account for 89% of all new car sales by that date. This 89% electric vehicle share was, in turn, based on modelling by RepuTex, which had also predicted that household energy bills would

The post Australia’s ‘net zero’ dream goes up in exhaust smoke appeared first on MacroBusiness.

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xkcd.com Wednesday, November 22, 2023 - 11:00 Source

An occasional source of mild Thanksgiving tension in my family is that my mother is a die-hard fan of The Core (2003), and various family members sometimes have differing levels of enthusiasm for her annual tradition of watching it.

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Cheeseburger Gothic Wednesday, November 22, 2023 - 10:37 Source

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MacroBusiness Wednesday, November 22, 2023 - 10:30 Source

Independent economist, Tarric Brooker, posted the above chart on Twitter (X) showing how Australian households are spending a far higher share of their income on debt repayments than other advanced nations: “Despite rocketing rates, Canada’s household debt service ratio now is similar to Australia’s when we had a 0.1% cash rate”, Brooker notes. “Australia truly

The post Australian mortgages world’s most painful appeared first on MacroBusiness.

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MacroBusiness Wednesday, November 22, 2023 - 10:20 Source

Australian voters continue to turn against the Albanese Labor government, with the latest Roy Morgan polling on federal voting intentions showing that Labor (49.5%) has fallen behind the Dutton-led Coalition (50.5%) on two-party preferred vote. The result matches the low-point the Albanese Government reached immediately after the defeat of ‘The Voice’ referendum in mid-October and

The post Polling: Aussies tire of Albo’s abuse appeared first on MacroBusiness.

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