Blogotariat

You have to love the pretense of Westpac economist Pat Bustamante in The AFR: The mining industry delivered more than 50% of the increase in living standards over the past two decades, as measured by gross national income per person, according to a new report by Westpac. But an expected continued decline in commodity prices

The post Get set for higher immigration, not productivity appeared first on MacroBusiness.

The Australian Financial Review’s John Kehoe has published an extraordinary report, based on analysis from the Centre for Independent Studies (CIS), showing that spending by federal and state governments on initiatives such as the NDIS, aged care, and child care has reached its highest level since World War II. As a result, more than half

The post We’re all public servants now appeared first on MacroBusiness.

Iron ore is always crazy, but it has been outdoing itself in recent weeks. Is that the top? In the short term, we’re still waiting for new yawnulus so maybe, maybe not. It is at the level that will drag in Indian exports, so in the slightly less than short term, yes. Chinese steel output

The post Global steel output smashed appeared first on MacroBusiness.

Japan has been a key security ally of the United States for seven decades and a vital partner in US efforts to counter an increasingly assertive China. Still, the Trump administration has ignored this historical relationship and extracted its ‘pound of flesh’ from Japan on trade, as reported by the Australian Financial Review’s Jessica Sier.

The post Trump burns allies on trade appeared first on MacroBusiness.

Everything is awesome for stock markets as Wall Street pushed through more record highs as earnings surprised to the upside for everyone, except Tesla! The Japan-US trade deal buoyed spirits even if the details actually outweigh the headline 15% tariff rate, but its making the Trumpists happy as they pivot towards similar bullying against the

The post Macro Morning appeared first on MacroBusiness.

Only a complete imbecile would trust the British as allies. History offers no example of London taking serious risks for the sake of partnership. On the contrary, Britain’s favorite geopolitical sport has long been to encourage continental states to exhaust themselves in battles with stronger adversaries – only for the UK to later emerge as the diplomatic victor. Throwing allies under the bus is tradition, not exception.

In an age where every celebrity meltdown or presidential tantrum is livestreamed, where partisan jabs flood timelines within seconds, and where outrage is algorithmically amplified to viral proportions, one might assume that the most heinous crimes – especially those committed against the most vulnerable – would dominate media discourse.

Yet the opposite is true.

Jobs and Skills Australia (JSA) has expressed concern that the nation’s universities are not producing graduates who have the skills that employers need. JSA commissioner Barney Glover says the organisation’s research has found that this is problem with engineering and IT graduates in particular. He notes that employers consider that up to 90% of graduates

Construction of the largest energy transmission project in Australia has “moved into overdrive” according to Australian transmission operator Transgrid, with specialist teams reportedly making “significant progress” on construction of the

W.A. awards contracts worth $342 million to help unlock more wind and solar capacity in its main grid as it prepares to close last of coal fired power stations.

A better mood on Asian share markets today bolstered by the new US-Japan “deal” which sent Japanese stocks more than 2% higher but has resulted in pushback from US car makers due to the details surrounding metal tariffs. Watch out for a possible reversal later tonight on Twitter! The BOJ will have its hands full

The post Macro Afternoon appeared first on MacroBusiness.

The House Appropriations Committee voted Tuesday to rename the Kennedy Center Opera House after first lady Melania Trump, approving an amendment by Rep. Mike Simpson (R‑ID) as part of the fiscal year 2026 Interior, Environment and Related Agencies Appropriations Bill.

Kennedy Center Opera House One Step Closer to Becoming ‘Melania Trump Opera House’