Blogotariat

Victoria’s finances are dire. The state has the nation’s lowest credit rating and the highest per capita debt. The major rating agencies have warned that unless Victoria gets its debt under control, it will face more ratings downgrades. Interest repayments on the state’s debt, already forecast to reach $10.6 billion annually by FY 2029, would

The post Victorian government drowns taxpayers in more bureaucracy appeared first on MacroBusiness.

Ferrous madness continues as steel margins collapse. Scuttlbutt is nonsense. Miner Rio Tinto could be forced to build refiners for the Simandou ore in Guinea, Australia’s Financial Review reported on Sunday. The Simandou iron ore project, with an annual production capacity of 120 million metric tons, is expected first ore shipment in November, and put

The post Yawn. No, Chinese property is not recovering appeared first on MacroBusiness.

Australian dwelling values hit a new record high in August. The national final auction clearance rate also averaged 69% in August, the strongest result since February 2024. The bounce in dwelling values and auction clearance rates follows three 25 bp rate cuts delivered by the Reserve Bank of Australia (RBA) since February, taking the official

The post Aussies hyper bullish on house prices appeared first on MacroBusiness.

The solution to Australia’s rental crisis is being played out in real time in Canada. Rents in Canada soared to a record high in response to the country’s largest immigration influx in history. Last year, the Canadian government imposed a three-year pause on population growth to relieve the strains on housing and infrastructure. In the

The post Canada cut immigration and rents fell appeared first on MacroBusiness.

The NAB survey yesterday confirmed an economic pop. The top business conditions indicator returned to +7, the same level as in June, after reversing the two-point drop that occurred in July. At this point, the index is in line with its long-term average, indicating that companies believe the current state of affairs to be generally

The post Pent-up demand gives economy a pop appeared first on MacroBusiness.

Frank Chung at News.com.au has published a startling report on the huge increase in migrants attempting to claim asylum. “As of July 31, there were 98,979 people whose protection visa application had been denied but were yet to be deported while 27,100 were awaiting a decision, according to the Department of Home Affairs”, Chung reported.

The post Proof Labor has failed dismally on immigration appeared first on MacroBusiness.

DXY is flopping around like a dead fish. AUD was rejected once, but looks ominous for a breakout. CNY is helping. Gold paused. Oil is stuffed. Metals meh. Big bear returned. EM to the moon! Junk is fine. Yields reversed a bit. Stocks ATH. US inflation is tomorrow, so that probably accounts for yields. There

The post Australian dollar roars to 66 cents appeared first on MacroBusiness.

Japan’s Prime Minister Shigeru Ishiba on Sunday announced that he will resign after less than a year in office. Ishiba’s tenure, which began last October, has been marked by significant electoral setbacks for his governing coalition.

Secretary of War Pete Hegseth and senior Pentagon officials made an unannounced visit to Puerto Rico on Monday. The Department of War has deployed a significant military force to the Caribbean as it prepares for more strikes against alleged Venezuelan cartels. 

The Russian Armed Forces outmatch Kiev’s army in both manpower and equipment, Ukrainian Commander-in-Chief Aleksandr Syrsky has said.

His remarks come after months of Ukrainian setbacks on the front lines and mounting struggles to replenish the ranks, with the country’s leader, Vladimir Zelensky, accused of dragging out peace efforts by insisting on Western-backed security guarantees.

New report finds a coordinated approach to electricity transmission and generation in WA's Pilbara region could save more than $30 billion over the next 25 years.

In the midst of France's political crisis, low trust in politics and politicians is creating fertile ground for fake news stories to spread. An anti-government campaign calling for a nationwide shutdown on September 10 is being pushed and manipulated by bots, likely controlled by a foreign entity. We take a closer look in this edition of Truth or Fake.