Blogotariat

The Abanese government this week looked set to make some sensible policy compromises before performing a 180-degree turn and fumbling the ball. Gas Policy: The Rudd/Gillard Labor government in the early 2010s made the fateful decision to approve LNG exports out of Gladstone, QLD, without requiring gas producers to supply the domestic market first. This

The post Australians suffer policy whiplash appeared first on MacroBusiness.

Picture this. Our world. This is the world that the average Australian lives in. They drive basic cars, they pay rates, registrations, and energy bills, they have kids at schools, and they generally spend disturbingly large chunks of their weekly incomes to service a mortgage or rent. Then they go to a grocery store and

The post The great housing gaslight appeared first on MacroBusiness.

Ian Leslie has released what looks to be a fascinating book about the Beatles and more specifically the relationship between Lennon and McCartney. I thought that I too might as well get in on the act and talk about the Beatles story and why it is so remarkable, mysterious and compelling.

DXY held on Friday night. AUD could not break higher. Lead boots still plodding upwards. Gold sagged. Oil bounce looks technical to me. Metals no bueno. Big bear rolls on. EM maybe. Junk meh. Yields up. Stocks upper. The US jobs report was a Goldilocks scenario, so it did not change the trends. Total nonfarm

The post Australian dollar Goldilocks appeared first on MacroBusiness.

While my focus has been very much on the federal election, events have been developing in Tasmania, which culminated in a vote of no confidence on Thursday.

The premier, Jeremy Rockliff, has plans to visit the Governor on Tuesday to ask for an early election. At the moment it doesn’t seem likely that anyone else could command the support of the House of Assembly, but it is possible the Governor may decide to not grant an election right away in the hope of finding a way to continue with a parliament that is not yet 15 months old.

If an early election is called, the earliest possible date is July 19.

International Reading: ‘There’s no fraud’: Steve Bannon says Elon Musk’s DOGE cuts are a huge failure – Raw Story Trump calls for scrapping debt limit – The Hill Economists Raise Questions About Quality of U.S. Inflation Data – WSJ President Stagflation: US economic activity declines as tariffs pressure prices, Fed says – Yahoo House GOP

The post Weekend reading and media appearances appeared first on MacroBusiness.

As the two most powerful but petulant men in the world stand off at 10 yards with handbags swinging, risk markets didn’t know quite to make out here in the Asian session today as the focus remains on the latest US jobs report tonight, with the initial jobless claims preview from last night not looking

The post Macro Afternoon appeared first on MacroBusiness.

The "high school" level feud between the US president and the world's richest man has sent Tesla stock into free-fall. But the biggest victim could be autonomous tech.

State approves two major new renewable energy generation and storage projects through planning fast-track scheme – both of which were opposed by the respective local councils.

Westpac states the obvious. Soft GDP data for Q1 has again raised questions of whether the RBA is behind the curve and has left policy too tight for too long. As we have been highlighting for some time, underlying growth in Australia remains weak and sensitive to pauses in the expansion in the care economy.

The post Lunatic RBA “too tight for too long” appeared first on MacroBusiness.

Pacific Island group condemns Australia's support for gas project extension as major new climate report warns we are "fast running out of time to turn the tide" on ocean acidification and sea level rise.

The Reserve Bank of Australia’s (RBA) 25 bp rate cut last month had an immediate effect on the housing market. The final auction clearance rate across the combined capital cities soared to its highest level since early July 2024, despite the second-highest auction volumes (2,918) of the year. According to Cotality, 66.2% of auctions resulted

The post Housing market launches after RBA rate cut appeared first on MacroBusiness.

Victoria’s finances are in dire straits, carrying the nation’s highest debt and lowest credit rating. Victoria’s net debt was only $22.3 billion when the Labor government delivered its inaugural state budget in 2015. However, according to budget projections, net debt will reach $194 billion by 2028-29, up from $155.5 billion today. Victorian net debt per