Albonomics can be summed up as tearing down borders to trigger mass immigration that leads to a shortage of everything except cheap labour. For incoming migrants from the Third World, this is a net positive. They are exploited as an underclass of unskilled labour, whether skilled or not. Yet they still earn more than they The post The terrible trinity of Albo’s great crushflation appeared first on MacroBusiness ..read more

Let me run you through some of the supposed reasoning for the ongoing iron ore bear market rally: “The issuance of the special bonds is expected to speed up ahead, while the improvement in steel demand may sustain as construction steel consumption will continue to recover and the manufacturing sector-led steel demand will likely remain The post Somebody farted and iron ore boomed appeared first on MacroBusiness ..read more

This is the remastered version of our podcast. Our episodes will continue to be recorded live, but we are committed to delivering high-quality audio that is optimized for your enjoyment. By optimizing the audio, removing any technical glitches, and refining the content, we provide a polished version of the original recording but will not lessen The post MB Fund Podcast: HD Remastered Replay: The World of Ethical Investing appeared first on MacroBusiness ..read more

The federal government’s mass immigration policy continues to wreak havoc on Australian renters. After net overseas migration hit a record 549,000 in 2023, advertised rents have soared by nearly 40% nationally: The surge in rents is directly correlated with the hyper-growth in population: As a result, PropTrack’s rental affordability index has collapsed to a record The post Aussies forced to live in tents as rental crisis deepens appeared first on MacroBusiness ..read more

Everything but local stocks had very solid sessions across Asia today on the back of renewed optimism across Wall Street overnight as some softer PMI numbers helped lift risk sentiment around interest rate cuts. Healthy earnings from the tech sector are also helping with the foot off the USD as a result, giving the Australian The post Macro Afternoon appeared first on MacroBusiness ..read more

JKM netback is sitting just above $13Gj today, while local spot gas prices are still threatening to violate the $12 contract price cap: Local electricity prices continue to track the new global gas price shock higher: On a QTRMA basis, $100MW/h prices are double what they should be. Your bills have already priced this in The post John Howard should put solar where the sun don’t shine appeared first on MacroBusiness ..read more

Australians have experienced one of the largest increases in mortgage rates in the world: We have also experienced the largest rise in debt servicing costs: The reason should be obvious: Australia has one of the highest concentrations of variable rate mortgages in the world, whereas our fixed rate mortgages are typically of short duration (i.e. The post RBA delivers huge rise in mortgage stress appeared first on MacroBusiness ..read more

I spoke about the upcoming budget and the immigration overflow during an interview with Sky News’ Danica De Giorgio on Monday night. I explain that the federal budget is likely to include rental and energy subsidies to cover its policy failures. I also explain why the federal budget will come under pressure as unemployment rises, The post Budget can’t hide immigration and energy blunders appeared first on MacroBusiness ..read more

The Australian Bureau of Statistics (ABS) has released the consumer price index (CPI) for the March quarter, which recorded a headline inflation rate of 1.0% over the quarter and a rate of 3.6% over the year: Trimmed mean inflation also rose by 1.0% over the quarter to be up 4.0% in the year to March The post Aussie CPI inflation shocks economists appeared first on MacroBusiness ..read more

As we know, Australia’s rental vacancy rate has collapsed to an all-time low amid record immigration-driven population growth and falling housing construction. New data from PropTrack shows that rental listings have collapsed across the nation. In March 2024, the number of newly advertised properties for rent was 13.7% lower than a year earlier and new The post Australian rental supply collapses appeared first on MacroBusiness ..read more