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Your Democracy Tuesday, May 17, 2022 - 21:33 Source

According to numerous US media reports and opinion polls in the US, Joe Biden is increasingly being described as one of the worst presidents in American history, proving to be “an unparalleled disaster.”

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Your Democracy Tuesday, May 17, 2022 - 17:37 Source

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MacroBusiness Tuesday, May 17, 2022 - 17:00 Source

Asian share markets have had a better response and follow through to the bounces on overseas markets from Friday night, despite a reluctant Wall Street overnight with Chinese shares leading the way after a stumble yesterday. Currency markets are starting to fight back against the very strong USD with the Australian dollar boucning back above

The post Macro Afternoon appeared first on MacroBusiness.

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Renew Economy Tuesday, May 17, 2022 - 15:58 Source

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Renew Economy Tuesday, May 17, 2022 - 15:57 Source

Loy Yang power station AGL shareholder resolution

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The Australian Independent Media Network Tuesday, May 17, 2022 - 15:40 Source

I, like millions of others, have already cast my vote at an early polling booth. As I walked past the many volunteers (and the Liberal and Labor candidates), I politely declined their proffered How to Vote cards saying I knew what I wanted to do.  They just smiled and moved on to the next person…

The post “Labor haven’t released their costings” appeared first on The AIM Network.

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Renew Economy Tuesday, May 17, 2022 - 15:02 Source

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MacroBusiness Tuesday, May 17, 2022 - 14:30 Source

May 2022 Australian property market affordability update Australian property market prices have started to drift lower. In recent months, mortgage fixed interest rates have risen substantially, now standard variable rates are on the rise. The official rate rose, and already affordability is as poor as it has ever been in some markets.  Housing valuation and

The post Do we really need more tax breaks and demand for property? appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 17, 2022 - 14:00 Source

Over the decade leading up to COVID, the exploitation of international students became systemic across the Australian economy. Multiple reports bemoaned the rampant wage theft from international students, especially from migrant employers of the same nationality. For example, the 2016 Senate Committee report, A National Disgrace: The Exploitation of Temporary Work Visa Holders, noted that

The post International students are still being routinely exploited appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 17, 2022 - 13:30 Source

On Sunday, the Morrison Government announced that if reelected, it would allow first home buyers to borrow up to 40% of superannuation to purchase their first home, capped at up to $50,000 (see yesterday’s article). Under the policy, first home buyers would need to have $125,000 in their superannuation account in order to withdraw the

The post Coalition’s super-housing plan would increase inequality appeared first on MacroBusiness.

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The Australian Independent Media Network Tuesday, May 17, 2022 - 13:16 Source

So their term has crawled to a shouty close. Remember a few short years ago when Australian democracy was seen as having developed a uniquely Australian flavour? The respective leaders of the major parties were respectful toward each other, with the notable exception of Mark Latham and his unseemly hand-shake. We believed in the fair…

The post Does Morrison deserve another term? appeared first on The AIM Network.

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Renew Economy Tuesday, May 17, 2022 - 13:11 Source

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Cheeseburger Gothic Tuesday, May 17, 2022 - 13:10 Source

I just had to de-mould my standing desk. It was starting to look like background vision from The Last of Us, blanketed in fuzzy green sentient shit, and about five minutes from breaking free and coming after me.

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Renew Economy Tuesday, May 17, 2022 - 13:04 Source

Port August Renewable Energy Park turbines and transmission lines

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MacroBusiness Tuesday, May 17, 2022 - 13:00 Source

Australia’s rental crisis continues to worsen, with SQM Research recording a surge in asking rents amid tight vacancies. While the national vacancy rate rose 0.1% in April to 1.1% on the back of the smaller capital cities (see below table), asking rents nationally soared another 1.4% over the month to be 13.8% higher year-on-year: According

The post Asking rents surge amid tight vacancies appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 17, 2022 - 12:30 Source

Roy Morgan’s last opinion poll before this weekend’s federal shows that Labor is poised to take government with a swing of 4.5%, However, the race has tightened: The ALP’s lead over the L-NP has been cut to 6% points as early voting began last week but it still holds a clear election winning lead before

The post Labor poised for federal election win appeared first on MacroBusiness.

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Renew Economy Tuesday, May 17, 2022 - 12:22 Source

synergy david fyfe

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MacroBusiness Tuesday, May 17, 2022 - 12:00 Source

The ferrous complex firm on May 16, 2022. Spot did not update: Yesterday’s China data has left me scratching my head. The numbers were disastrous across the board. With the exception of steel output which was only down 5%: Versus cement down 19%: I can only surmise that steel is stronger owing to accumulating inventories.

The post Daily iron ore price update (at a loss) appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 17, 2022 - 11:30 Source

The business lobby has dished up another serving of ‘skills shortage we need more migrants’ tripe at Fairfax, while explicitly admitting that mass immigration is used to suppress wage costs: Senior Australian business leaders have urged the next federal government to address the nation’s labour crisis by boosting migration to fill jobs, warning a failure

The post Business lobby admits mass immigration suppresses wages appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 17, 2022 - 11:00 Source

Over the past few weeks, we’ve witnessed the business lobby, mainstream media, the IPA and Coalition all hit out at the union’s and Labor’s call to lift the minimum wage by the Consumer Price Index (CPI), claiming that doing so would stoke inflation and force up interest rates. At the same time, these groups have

The post Where’s the inflation panic surrounding Stage 3 tax cuts? appeared first on MacroBusiness.

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Renew Economy Tuesday, May 17, 2022 - 10:58 Source

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MacroBusiness Tuesday, May 17, 2022 - 10:30 Source

JPM Marko Kolanovic has been wrong all year but here’s his latest bullish missive: Cross-asset Strategy: Equities stand to recover if a recession doesn’t come through, given already substantial multiple de-rating, reduced positioning and downbeat sentiment. We expect EM equities to outperform on healthy earnings and a lower equity risk premium, and remain OW China

The post A bullish take on stocks appeared first on MacroBusiness.

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Your Democracy Tuesday, May 17, 2022 - 10:13 Source

Britain faces the “major concern” of “apocalyptic” global food-price rises sparked by Russia’s invasion of Ukraine, the Bank of England’s governor has told MPs.

Andrew Bailey warned of a “very big income shock” to households, and admitted feeling “helpless” in the face of surging inflation.

 

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MacroBusiness Tuesday, May 17, 2022 - 10:00 Source

Like most English-speaking nations, Canadian house prices boomed over the pandemic, soaring 32% since February 2020 according to Teranet: The surge in prices was led by Canada’s largest city Toronto where prices surged 37% over the pandemic. However, like most nations, Canada’s mortgage rates have begun to rise, jumping by around 0.8% since March, according

The post Canada’s housing market braces for interest rate shock appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 17, 2022 - 09:40 Source

Chinese April data was out late yesterday and crashed. Pantheon: China: Industrial production growth plummeted to -2.9% y/y in April, after growing 5.0% in March.  Consensus was 0.5%. China: Retail sales growth extended its collapse, at -11.1% y/y in April, from -3.5% in March.  Consensus was -6.6%. China: Fixed asset investment growth slowed to 6.8%

The post Chinese economy busts, steel booms! appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 17, 2022 - 09:30 Source

Last night saw a failure to confirm Friday’s bounceback on stock markets with both European and US shares playing the wobbly game amid tension over interest rates and Chinese growth concerns. The bond market moved around only a little with the 10 year US Treasury yield easing off to just below the 2.9% level, with

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 17, 2022 - 09:20 Source

The DXY rocket eased overnight: AUD took the opportunity to bounce: CNY survived its day of disastrous data: Gold help us all if oil breaks out: Metals were mixed: Miners rose: EM stocks are sick: And junk is still pointing everything down: The Treasury curve flattened: But stocks fell: Westpac has the wrap: Event Wrap

The post Australian dollar relief rally continues appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 17, 2022 - 09:00 Source

Anthony Albanese is upset that Labor was not consulted about AUKUS until 24 hours before it was announced even though the Biden administration demanded bipartisan support given the long horizons for the deal: Prime Minister Scott Morrison has denied that Australia broke with the Biden Administration when it decided not to consult Labor about its

The post ScoMo was right to keep AUKUS secret from Labor appeared first on MacroBusiness.

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Your Democracy Tuesday, May 17, 2022 - 07:31 Source

The discussion of foreign policy is one of the low points in the election. It is hard to be otherwise when both major parties are committed to integrating Australia’s military forces with those of the US. This severely curtails the scope for proposing independent policies and raises expectations ensuring the Government and Opposition contribute forces to almost any war America wants it to.

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Your Democracy Tuesday, May 17, 2022 - 06:41 Source

In the past, indiscriminate shelling by Ukrainian Armed Forces already led to the destruction of tankers full of chemicals and the leak of poisonous substances that endangered lives in the Lugansk People's Republic (LPR).

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