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PC roundtable pivots to Palestine

August 22, 2025 - 13:30 -- Admin

Platitude one. Treasurer Jim Chalmers has opened the door for an assault on superannuation concessions and other wealth taxes in exchange for lower income tax, by declaring intergenerational equity will drive reforms that could be taken to the next election or implemented beforehand. Wrapping up the three-day Economic Reform Roundtable on Thursday, Chalmers said while there was no clear

EV subsidies are middle class welfare

August 22, 2025 - 12:30 -- Admin

I am philosophically opposed to using scarce taxpayer funds to subsidise private car purchases. Battery electric vehicles (BEVs) are heavily subsidised in Australia. Every year, the federal government loses more than $500 million in tax income due to the Fringe Benefits Tax (FBT) exemption for BEVs, a figure that will rise as the number of

QLD is a gas bloody idiot

August 22, 2025 - 12:00 -- Admin

The Herald Sun has another frustrating gas debate today. Gas exports from the east coast could be brought under a new licence scheme to protect supplies for Aussie users, under a plan backed by industry groups and manufacturers. But the looming overhaul is dividing the states, with Queensland blaming the southern states for looming gas shortfalls.

Iron yawn

August 22, 2025 - 11:00 -- Admin

The ferrous complex is trying to hold $100. I expect it to fail. Not on anything especially dramatic. Largely because the seasonal headwinds for September are strong amid weakening Chinese growth. Goldman. Imports pulse is weak. Surprises bearish. Construction steel versus the rest means ongoing pressure on recycling but seasonality should also pull down BOF. It’s

Stocks set up for punishment

August 22, 2025 - 10:30 -- Admin

The Market Ear.  Watching the sensitive stuff ETH trying to tell tech something? These two have moved in perfect tandem over the past 2 months, but the latest gap is becoming very wide. Source: LSEG Workspace The worrisome part of the calendar The S&P 500 down 5 days in a row – front-running the calendar

Australian dollar enters freefall

August 22, 2025 - 09:30 -- Admin

DXY is back. AUD has entered freefall. CNY is fine. Gold is confused. Metals are nervous. Big bear intact. EM swoon. Junk hiccupped finally. As yields broke higher. Stocks kept falling. There wasn’t any earthmoving data. All eyes are on Jay Powell. Goldman says he’s going to break. Goldman economist David Mericle expects Powell to

Macro Morning

August 22, 2025 - 09:00 -- Admin

Overnight saw Wall Street stumble for the fifth consecutive session as traders get nervous about tonight’s Jackson Hole meeting and possible big changes at the Federal Reserve proper as the Trump regime wants to install sycophants on the board ASAP.  The USD is seeing more signs of a strength with a strong flash PMI overnight

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