The happy Dane spruiks Pilbara Killler
MacroBusiness | Australian Property Shares Dollar Economy
by Houses and Holes
29m ago
RIO is getting spooked that its China-grovelling, Australia-smashing Pilbara killer project is generating negative press. Suddenly, the miner has launched a love-in with a prostrate, Ross Greenwood, to upsell the benefits. But there are none, not for Australia, at least: An alternative iron ore pipeline this large risks emboldening Chinese military aggression. Coming at a The post The happy Dane spruiks Pilbara Killler appeared first on MacroBusiness ..read more
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Perth housing crushed under population avalanche
MacroBusiness | Australian Property Shares Dollar Economy
by Unconventional Economist
29m ago
If you want a textbook example of why housing policy is broken in this country, look no further than the below Sky News segment on Perth’s housing market: The segment opens by explaining how Western Australia’s Health Minister is in India on a mission to recruit more than 5,000 healthcare staff to fill shortages across The post Perth housing crushed under population avalanche appeared first on MacroBusiness ..read more
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Reserve Bank holds rates amid deepening recession
MacroBusiness | Australian Property Shares Dollar Economy
by Unconventional Economist
2h ago
The Reserve Bank of New Zealand has gone against the forecasts of ANZ and TD Securities and chosen to hold the official cash rate (OCR) at 5.50% at Wednesday’s monetary policy meeting. In its statement accompanying its decision, the Reserve Bank noted that “core inflation and most measures of inflation expectations have declined, and the The post Reserve Bank holds rates amid deepening recession appeared first on MacroBusiness ..read more
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Albo’s summer energy shock explodes
MacroBusiness | Australian Property Shares Dollar Economy
by Houses and Holes
2h ago
Like clockwork. If you won’t supply enough gas, then the power network melts down into a cascade of baseload failures as coal power ages: Daily wholesale power prices are now frequently double those of energy-poor Europe. The quarterly moving average of wholesale power costs id 80-90% higher than it should be. Why? When demand is The post Albo’s summer energy shock explodes appeared first on MacroBusiness ..read more
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“Appalling” Treasury “wrong” to blame wages for inflation
MacroBusiness | Australian Property Shares Dollar Economy
by Unconventional Economist
2h ago
On Tuesday night, I was interviewed by Sky News host Sharri Markson where I demolished the Australian Treasury’s claim that wage growth was driving Australia’s inflation. Below are highlights along with key charts backing my claims. Leith van Onselen: The Treasury has got it wrong here. Australian wages only grew by 0.1% more than headline The post “Appalling” Treasury “wrong” to blame wages for inflation appeared first on MacroBusiness ..read more
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Relaxing planning won’t stop developers land banking
MacroBusiness | Australian Property Shares Dollar Economy
by Unconventional Economist
3h ago
The YIMBY movement claims that if Australia simply relaxed zoning and planning rules and let developers build apartments wherever they wanted, Australia’s housing crisis would magically resolve. Their argument was demolished by an article published this month in the Daily Telegraph, which reported that “almost one billion dollars worth of housing in one of Sydney’s The post Relaxing planning won’t stop developers land banking appeared first on MacroBusiness ..read more
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Population growth hides recession economies
MacroBusiness | Australian Property Shares Dollar Economy
by Unconventional Economist
3h ago
If you believe Australia is a Ponzi economy, spare a thought for Canada. Canada’s population surged by more than 1.2 million people last year, driven almost entirely by net overseas migration: This population surge has created a diabolical shortage of housing across Canada: With housing starts failing miserably to keep pace with population growth: In The post Population growth hides recession economies appeared first on MacroBusiness ..read more
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1995 not 1999 for stocks
MacroBusiness | Australian Property Shares Dollar Economy
by Houses and Holes
4h ago
I agree with this. The Market Ear. 1995 We ran the 1999 analogy chart last year which worked well for big parts of the year. Is 2024 all about the 1995 set up from here? Refinitiv Party like it’s 1995? IT driven productivity growth In the mid-90s, the first wave of IT-driven productivity growth allowed The post 1995 not 1999 for stocks appeared first on MacroBusiness ..read more
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Iron ore bottoms
MacroBusiness | Australian Property Shares Dollar Economy
by Houses and Holes
4h ago
For now, anyway, Dalian iron ore futures are trying to hold at the 30DMA: Just as coking coal has: Bouncing off such levels does suggest speculative behaviour. But the rumour mills are still pretty gloomy: Some Chinese steelmakers have postponed plans to resume production amid pressure from poor steel margins or even losses, analysts at The post Iron ore bottoms appeared first on MacroBusiness ..read more
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Macro Morning
MacroBusiness | Australian Property Shares Dollar Economy
by Chris Becker
4h ago
Equities were the only markets with any decent movement overnight as bonds and currencies held fast as they await more important economic data later in the week. Wall Street bounced back and European shares followed suit while the Australian dollar was again stuck at the mid 65 cent level. 10 year Treasury yields lifted slightly The post Macro Morning appeared first on MacroBusiness ..read more
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