Blogotariat

Last week’s Q1 national accounts release from the Australian Bureau of Statistics (ABS) showed that real per capita GDP fell by 0.2%. This represented the ninth decline in per capita GDP in eleven quarters. The following chart plots the current decline in real per capita GDP against prior episodes dating back to the beginning of

The post Australians are being boiled slowly in recession appeared first on MacroBusiness.

I'm in the middle of a five-week treatment for some kind of skin cancer on my chest. It's a topical cream. I have to rub it in twice a day and it burns away a couple of layers of skin over the course of the month taking with it whatever cancerous little nasties were hiding within the epidermis.

I've gone through this treatment once before, but that was a couple of years ago and my vague memories of how unpleasant it was had become vague enough for me to let the dermatologist talk me into another go-around.

Never again. Next time I'll just be taking the blade, thanks very much.

Gerard Minack destroys Australia’s sick economy. Australia remains stuck in a macro rut. Low investment and fast population growth prevent capital deepening and productivity growth. The result is stagnant real incomes and falling per capita GDP. This malaise is also reflected in anaemic corporate earnings, but not in the equity market’s premium valuation. The RBA

Asian share markets are having a buoyant session across the region on the back of the “just okay” US jobs report from Friday night and some further indication that the Federal Reserve is likely to keep easing while the ECB and BOE look set to finish or have already done so. This has also given

The post Macro Afternoon appeared first on MacroBusiness.

All one really needs to be seen to be smart is Australia’s is to be loudest. That is the repuation at RBA press conferences of Warren Hogan, bullhawk and bullhorn. He has been Australia’s loudest and most persistent bullhawk. Until now. …at the heart of our productivity problem is a collapse in the efficiency of

The post The great bullhawk crash lands on emergency rate cuts appeared first on MacroBusiness.

The waste of space formerly known as the media had a good laugh at your expense over the weekend, that you can still afford or want to pay $7 for a coffee. SMH. Coffee roasters and baristas are the unsung heroes of Sydney hospitality. It takes a special person – part scientist, part artist, and

The post Heroes of $7 coffee appeared first on MacroBusiness.

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

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