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MacroBusiness Tuesday, May 27, 2025 - 08:00 Source

The latest data from the Department of Home Affairs shows a record 2,541,651 temporary visas on issue in Australia (excluding tourists) in Q1 2025. This figure was almost 120,000 more than the previous year and approximately 580,000 higher than Q1 2019, before the COVID-19 pandemic. Since Q1 2019, the increase in temporary visas has been

The post Australia inundated with bogus asylum seeker claims appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 27, 2025 - 00:10 Source

The NSW and Victorian governments are pushing hard to liberalise planning and encourage the rapid construction of high-rise towers within inner and middle-ring suburbs. Last year, the NSW Productivity and Equality Commission recommended bigger towers, smaller apartments, less storage and natural light, smaller balconies, and fewer parking places as solutions to the state’s housing crisis.

The post Australia’s slum city future appeared first on MacroBusiness.

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Renew Economy Monday, May 26, 2025 - 19:27 Source
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The Tally Room Monday, May 26, 2025 - 16:38 Source

Monday 4:38pm – As everyone had called, the Liberal Party has lost their third seat in South Australia’s to Labor’s Charlotte Walker. That is a 4-2 split. It’s worth remembering that traditionally these 4-2 splits are rare. Prior to 2025, Labor had gained two 4-2 splits (with the Democrats the fourth “left” senator) in NSW in 1990 and 1998, two in Tasmania in 2007 and 2010, and one in Western Australia in 2022.

South Australia was the most certain for 2025, but 4-2 splits also remain possible in New South Wales, Victoria and Western Australia, with the possibility of a 4-1-1 split in Tasmania also possible.

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MacroBusiness Monday, May 26, 2025 - 16:30 Source

Risk markets in Asia were mixed to start with on the Trump regime EU tariff bomb from the weekend gap but then the inevitable 180 spin got stocks at least somewhat back on track while currency markets continue to selloff the USD, believing the facts behind the demented spin. The Australian dollar is now at

The post Macro Afternoon appeared first on MacroBusiness.

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Renew Economy Monday, May 26, 2025 - 15:12 Source
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Renew Economy Monday, May 26, 2025 - 15:08 Source
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Renew Economy Monday, May 26, 2025 - 15:04 Source
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Renew Economy Monday, May 26, 2025 - 14:52 Source
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Renew Economy Monday, May 26, 2025 - 14:48 Source
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MacroBusiness Monday, May 26, 2025 - 14:00 Source

Mega City One, otherwise know as Hellbourne, is Australia number one example of what a bad economy model does to living standards. Since when did Aussie cities deal with this? The Victorian Labor government will introduce an interim ban on machete sales across the state following a violent brawl involving 10 people at Melbourne’s Northland

The post Hellbourne the new Mega City One appeared first on MacroBusiness.

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Renew Economy Monday, May 26, 2025 - 13:32 Source
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MacroBusiness Monday, May 26, 2025 - 13:30 Source

Australia’s superannuation system is too costly and inequitable. The Australian Treasury estimated total superannuation tax expenditures at around $60 billion in 2024–25, with contribution concessions being the most expensive at $37 billion, growing to $36,750 billion by 2027–28. Most of these concessions go to high-income earners, as illustrated below. In 2021-22, 91% of the benefit

The post A better superannuation solution appeared first on MacroBusiness.

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Renew Economy Monday, May 26, 2025 - 13:14 Source
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MacroBusiness Monday, May 26, 2025 - 13:00 Source

Property market softened in April: The latest batch of property market data show some weakening in both price and activity. The official NBS 70-city average new home prices declined by about 2% mom annualized in April, with prices in lower-tier cities falling more. The Centaline existing home price indices for top-tier cities posted renewed declines

The post Chinese property is the bust without end appeared first on MacroBusiness.

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MacroBusiness Monday, May 26, 2025 - 12:30 Source

At the end of 2024, Australia’s mortgage affordability was the worst on record, with households required to sacrifice a record share of their incomes to repay the median-sized new mortgage. There was also a record gap between the median home price and borrowers’ capacity to pay, assuming traditional affordability metrics. So far this year, the

The post Return of the housing Hunger Games appeared first on MacroBusiness.

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MacroBusiness Monday, May 26, 2025 - 12:00 Source

Steel in pancaked an iron ore hoping. Channel checks are showing that damage is creeping up the supply chain but it’s not disastrous. Goldman. Feedback from producers as of mid-May suggests end-user orderbooks were flat MoM, softer than past seasonality. Infrastructure recovery paused, reflected in lack of funding for new project starts and weak cement

The post Iron ore dances to the tariff music appeared first on MacroBusiness.

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MacroBusiness Monday, May 26, 2025 - 11:30 Source

Last year, prominent immigration propagandist and managing director of the Australian Housing and Research Institute, Michael Fotheringham, blamed the nation’s housing shortage on ‘greedy’ households consuming too many homes. “We are consuming more houses for the number of people we have. That is a bigger driver for shortfall in housing than migration”. “The number of

The post Why Australian households are shrinking appeared first on MacroBusiness.

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MacroBusiness Monday, May 26, 2025 - 11:00 Source

Deutsche on stablecoin regulation in the US. 1. Stablecoin legislation cements USD supremacy  The GENIUS Act mandates that all stablecoins be backed 1:1 by high-quality, lowrisk liquid assets – specifically, US Treasury bills with maturities under 93 days, insured bank deposits, or physical US coins and currency (including Federal Reserve notes). Issuers must disclose their

The post The great stablecoin nothing burger appeared first on MacroBusiness.

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MacroBusiness Monday, May 26, 2025 - 10:30 Source

Mark Scott is one of Australis’s greediest rent-seekers. Every year, Scott plunders $1.2m from Sydney University as its vice-chancellor. It’s no wonder he remembers Harvard so well, hobnobbing with the Great Gatsby. Three decades ago, I embarked on an exciting adventure to Harvard to complete a graduate degree, accompanied by my wife and two young

The post Australia should Trumpify its universities appeared first on MacroBusiness.

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Renew Economy Monday, May 26, 2025 - 10:00 Source
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MacroBusiness Monday, May 26, 2025 - 10:00 Source

South Australia is touted as the mainland’s leader in renewable energy. According to AEMO, South Australia generates over 70% of its electricity from renewable sources, with significant contributions from wind and solar power. As shown above, wind farms are the largest source of electricity in South Australia, generating 6,651 GWh in the 2022-23 reporting period.

The post South Australia faces blackout future appeared first on MacroBusiness.

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xkcd.com Monday, May 26, 2025 - 10:00 Source

Patients at least found it to be an improvement over Millikan's incredibly messy and unpleasant oil drop suspension procedure.

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Cheeseburger Gothic Monday, May 26, 2025 - 09:31 Source

Or, at least I think it’s Launch Week. I’ve got a couple of new books out this week, which I wrote about on ASB last Friday. They’re very different (Romance!), but also the same (SPLODEY!) I’ll post an essay here about it later this week.

If you didn’t read the Boob on Friday and want a sneak preview, I’m building a new stack over here to help run this new project, which I’m working on with my daughter while she travels through Europe. (Anna is my official location scout.)

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MacroBusiness Monday, May 26, 2025 - 09:30 Source

Recall leading apartment developer Tim Gurner’s warning that Australia’s rental crisis could last another 15 years due to a lack of supply relative to the nation’s strong population growth. “If you look at the vacancy rates, it’s pretty simple, right? We have vacancy around 1% in every single state, construction supply is the lowest it’s

The post Australia’s housing shortage is worse than thought appeared first on MacroBusiness.

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The Tally Room Monday, May 26, 2025 - 09:30 Source

One of the big stories of 2025 has been the rise of independents. There was a notable increase in the number of independents who stood at this election, but that in itself is not the most important factor. There is a tremendous range in how well an independent might poll, and how serious their campaign might be.

So for this post I wanted to track how high the independent vote has reached, how that vote breaks between a number of categories of different types of independents, and how that has translated into victories or close calls.

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MacroBusiness Monday, May 26, 2025 - 09:00 Source

Another late night tariff threat dump by a senile Trump on Friday upset risk markets across both sides of the Atlantic which will result in increased volatility on the open here in Asia. Following the passage of the Trump regime’s new “Tax” Deal (aka blowing out the deficit forever) this will also embolden volatility on

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Monday, May 26, 2025 - 00:05 Source

MacroBusiness, for years, has blamed much of Australia’s productivity slump on ‘capital shallowing’, which occurs when the nation’s population grows faster than business, infrastructure, and housing investment. This situation leaves workers with less capital, resulting in less output per hour and a lower growth rate per capita. As a stylised example, assume that you run

The post Australia’s economy shallows out appeared first on MacroBusiness.

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MacroBusiness Sunday, May 25, 2025 - 16:41 Source

DXy is breaking down again. AUD looks ready to breakout. Lead boots plod higher. Gold loving DXY, oil nowhere. Metals also loving the DXY. Miners not worse. Junk nothing burger. Yields fell on the night but the trend is not your friend. Stocks are not enjoying the regime of the American lira. Yet the AUD

The post Australian dollar rockets upwards appeared first on MacroBusiness.

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Renew Economy Sunday, May 25, 2025 - 14:45 Source
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