Ah, minorities: Anthony Albanese promised recognition of a Palestinian state as a first-term priority for an incoming Labor government, according to leaders of two of Australia’s largest Muslim organisations. In an online meeting held in the weeks leading up to the May 2022 election, Albanese stopped short of guaranteeing senior leaders from the Australian National
Victorians are facing decades of debt slavery courtesy of the state government. A decade of excessive spending on public servants, infrastructure cost overruns and waste totalling tens of billions of dollars, and expenditures related to the pandemic lockdowns have left Victoria with the most state government debt and the worst credit rating in the country.
CBA released data on the household expenditure of customers in the June quarter of 2024. It once again showed that younger Australians are cutting back on discretionary purchases, whereas older Australians continue to spend freely: As shown above, Australians aged under 35 outright cut their expenditure on discretionary items, whereas older Australians aged 65-plus increased
According to Statistics Canada, the country’s population increased by a record 1,273,000 people in the year ending March 2024, representing a growth rate of 3.2%. Net overseas migration accounted for 97% of Canada’s population growth. This surge in population was unplanned, easily beating Statistics Canada’s 2022 “median-growth” projection by 1.4 million people: The National Bank
DXY is down: AUD popped: With North Asia: Oil not so much. Gold at records highs: Metals sniff relation. Good luck with that: RIO gapped into madness: EM having another crck: Junk is unequivocally bullish: As yields fall: And stocks climb: The Fed is going to cut and forex is pricing the regime shift. BofA:
International Reads: Harris to propose federal ban on ‘corporate price-gouging’ in food and groceries – CNBC Opinion: Young conservatives like me are told not to attend college. That’s shortsighted. – USA Today Trump will have to choose: populism or Elon Musk – New Statesman Used car prices fall again in July, down nearly 20% from
‘A break away’ Tom Roberts, 1891, Art Gallery of SA AUD/USD EUR/USD USD/JPY GBP/USD Gold WTI Brent Australia 200 US S&P 500 UK100 Japan 225
The post Macro Afternoon 16 August 2024 appeared first on MacroBusiness.
It’s been obvious for months that the New Zealand economy was falling apart. Six consecutive quarters of per capita recession do not lie: Leading soft data is even worse: And households, the mainstay of the economy, long ago capitulated: As did the labour market: Given the degree of supply-side inflation, which was always going to
Greens leader Andrew Bandt appeared on Sky News in June where a panellist asked: “Do you welcome the promised drop in migration? Do you think that will help?”. Adam Bandt bluntly responded: “Migrants aren’t the cause of this crisis. The biggest line item in Labor’s budget for housing is tax breaks to the wealthy and
Earlier this year, The AFR posted the following chart showing the enormous growth in Australia’s terms of trade over the past 20 years: The AFR’s John Kehoe noted that “compared to other countries”, Australia’s terms-of-trade “has increased by almost two and a half times, or 146% since the turn of the century”. The following chart