Blogotariat

Oz Blog News Commentary

Articles from MacroBusiness

China’s iron ore shock intensifies

August 26, 2024 - 09:30 -- Admin

Friday’s ferrous markets were weak as SHFE and SGX resumed falls: Overnight, the Fed popped and dropped Dalian futures: Coking coal: The latest MySteel readings are very mixed. Flat products have rebounded while long sink: Output is cratered given zero profitability: At 28% below 2019 levels, apparent iron ore demand is lower by nearly 500mt

Macro Morning

August 26, 2024 - 09:00 -- Admin

A very supportive speech by Fed Chair Powell, where he outlined that the Fed will do what it can to help US unemployment and that meant swift rate cuts if necessary has seen the little reversal in USD go back the dominant way that risk markets had been thinking all along. Wall Street rallied alongside

Canadian and Australian households driven deep into recession

August 26, 2024 - 07:00 -- Admin

Canada and Australia have resorted to “quantitative peopling” to give the illusion of growth while individual living standards are collapsing. Canada has recorded its largest population expansion in history, with nearly 1.3 million people added over the past year, almost all via net overseas migration: While this massive population expansion has kept Canada out of

Australia’s housing crisis engulfed in lies

August 26, 2024 - 00:10 -- Admin

Last week’s survey of 49 “leading” economists blamed a lack of supply for Australia’s housing crisis while denying that two decades of excessive demand via record immigration have played a material role. Note from the above graphic that only 6% of surveyed economists picked “restrain immigration” as a solution to Australia’s housing mess, while 14%

Gas cartel smashes into RBA

August 26, 2024 - 00:05 -- Admin

There are two major features of the gas cartel in Australia. First, it is unimaginably destructive economically. Second, it is unimaginably invisible in public discussion. Chris Joye gives us a nice glimpse of both: With inflation temporarily falling into the Reserve Bank of Australia’s target 2 to 3 per cent band, and the US Federal

Macro Afternoon

August 23, 2024 - 16:00 -- Admin

A mixed session for Asian share markets as they react to the overnight retracement on Wall Street and other risk markets as traders await the latest speech by Fed Chair Powell at the Jackson Hole symposium/central banker extravagance. The USD returned to strength overnight but that seems to have dissipated with bond markets leading the

Tesla’s bubble spectacularly bursts

August 23, 2024 - 14:00 -- Admin

Back in June, 7News reported that a ‘graveyard’ of unsold Tesla cars had piled up in Port Melbourne: “All of a sudden we’ve got a huge backlog of Teslas that aren’t moving”, Peter Anderson from the Victorian Transport Association told 7News. “Teslas usually come into this country pre-sold. These ones aren’t, they’re sitting here”. The

Pages