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Articles from MacroBusiness

Betoota does the gas cartel

September 6, 2024 - 13:30 -- Admin

Somehow, it’s not as funny as usual. Australia, the world’s second largest exporter of liquefied natural gas (LNG), is preparing to do what no one saw coming. Import gas for its own citizens. “Look, it’s simple economics,” said the government spokesperson. “We had a lot of gas. China and other countries needed gas. So, we

Australia destroyer, Wayne Swan, returns

September 6, 2024 - 13:11 -- Admin

Wayne Swan taught Jim “chicken” Chalmers everything he knows: Former Labor federal treasurer Wayne Swan has backed the government’s attitude towards inflation, saying he is “very disappointed” in the Reserve Bank and it was “punching itself in the face.” Mr Wayne, who was Jim Chalmers‘s boss, slammed the RBA for “hammering households” with interest rates

Aussies pull plug on battery EVs

September 6, 2024 - 13:00 -- Admin

Last week, the Australian Energy Market Operator (AEMO) announced new energy supply and demand projections for the next decade. According to AEMO, a slower uptake of battery-electric vehicles (EVs) will reduce demand on the electrical system. In December, AEMO predicted that seven million electric vehicles would be sold over the following ten years, but that

Labor are the new champions of public sector fat cats

September 6, 2024 - 12:30 -- Admin

While ordinary Australians are suffering through the worst cost-of-living crisis in generations and a record decline in household disposable incomes. The Albanese government is gifting fat salaries to senior public sector bureaucrats. A few months back, incoming Governor-General Sam Mostyn was awarded a 43% pay rise to $709,000 a year to compensate for a lack

The ASX bubble inflates

September 6, 2024 - 12:00 -- Admin

What else can we call it? The multiple on the bourse is fast approaching COVID overvaluations. Even as earnings fall away and the outlook is no better as bulk commodity prices collapse. The bubble is led by banks: But is broad-based: Hilariously, it is better than elsewhere: Goldman has more. Misses out-numbered Beats (38% vs

The economy is a river not a lake

September 6, 2024 - 11:30 -- Admin

A simple fact of macro management that Treasurer Dr Jim “chicken” Chalmers appears unaware of: Jim Chalmers has credited record government spending and Labor’s budget strategy for keeping Australia out of recession amid the weakest non-pandemic economic growth since 1991, using the data to reject the Reserve Bank’s claim the economy is “running too hot”.

Housing czar spins international student lies

September 6, 2024 - 11:00 -- Admin

The chair of Australia’s National Housing Supply and Affordability Council, Susan Lloyd-Hurwitz, attacked the government’s planned caps for international students, claiming that it won’t ease the rental crisis and will endanger Australia’s second-largest export industry. Caps on international student numbers would likely have “very little effect” on housing supply, according to Ms Lloyd-Hurwitz. “Because students

Here come more energy rebates

September 6, 2024 - 10:30 -- Admin

The RBA is about to lose the interest rate debate: Government subsidies for childcare, aged care and disability care have surged more than 20 per cent in the past year, but Labor has left the door open to more public spending ahead of the next election despite economists warning that this is unsustainable. Explosive growth

AI prints money

September 6, 2024 - 10:30 -- Admin

The Market Ear on the AI money printer. This is not a bubble Goldman and BlackRock are both out with “thought-pieces” defending Tech in general and AI in specific. It is definitely not a bubble…..And at the same time Ilya raises $1bn at $5bn valuation with no business plan. Tech baby Goldman wants you to

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