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Oz Blog News Commentary
MacroBusiness Tuesday, March 4, 2025 - 11:30 Source

The Australian Bureau of Statistics (ABS) on Monday released the Q4 2024 Business Indicators, which showed that non-mining company profits have never been higher (excluding the pandemic spike). Despite the stellar profits, Australian Industry Group (AIG) CEO, Innes Willox, attacked what he labelled a “wages blowout”, which is placing “mounting pressure on business balance sheets”:

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MacroBusiness Tuesday, March 4, 2025 - 10:00 Source

ANZ CEO Shayne Elliot described Victoria as “one of the toughest” places to do business. It is easy to see why. The Victorian government introduced a payroll tax surcharge in the 2021-22 State Budget as part of a mental health and wellness levy, but only for businesses with a payroll of $10 million or more.

The post Companies sound alarm on failing Victorian economy appeared first on MacroBusiness.

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Renew Economy Tuesday, March 4, 2025 - 09:20 Source
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MacroBusiness Tuesday, March 4, 2025 - 08:00 Source

Last month, Justin Fabo from Antipodean Macro posted the following chart tracking labour productivity across major advanced nations. As you can see, Australia’s labour productivity growth has been among the worst in the advanced world after recording zero improvement since 2016. Last week, the Reserve Bank of Australia’s (RBA) Michael Plumb delivered a speech to a

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Renew Economy Tuesday, March 4, 2025 - 07:53 Source
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Renew Economy Monday, March 3, 2025 - 21:14 Source
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Renew Economy Monday, March 3, 2025 - 18:23 Source
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THE BLOT REPORT Monday, March 3, 2025 - 18:12 Source

Alaric DeArment wrote an article in The New Republic in early 2023, where he noted that Americans from marginalised communities were looking to leave because of a rise in gun violence and far right (read Trump’s MAGA horde) politics. He wrote this article not long after he applied for German citizenship through his mother’s side of the family1.

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Renew Economy Monday, March 3, 2025 - 14:00 Source
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Cheeseburger Gothic Monday, March 3, 2025 - 13:50 Source

Move along citizen, nothing to see here. Just a fucking cyclone about to slide sideways into my word cave. Probably on Thursday.

I do like the reserved tone of my weather here.

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Renew Economy Monday, March 3, 2025 - 13:25 Source
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Renew Economy Monday, March 3, 2025 - 13:21 Source
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Renew Economy Monday, March 3, 2025 - 13:11 Source
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MacroBusiness Monday, March 3, 2025 - 12:00 Source

This is how catastrophic the East Coast gas cartel will become if left to its own devices. Competition cop Gina Cass-Gottlieb has picked a fight with Australia’s top energy companies over data she says shows they are planning to increasingly use gas produced for domestic purposes to meet commitments to foreign buyers. Queensland’s three major

The post That giant sucking sound is the gas cartel in your wallet appeared first on MacroBusiness.

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xkcd.com Monday, March 3, 2025 - 11:00 Source

Briefly set a new record for tallest human-made structure by getting my knit sweater snagged on the skydiving plane door as I jumped and not noticing until I'd landed.

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Renew Economy Monday, March 3, 2025 - 10:44 Source
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MacroBusiness Monday, March 3, 2025 - 10:30 Source

Australians have experienced the longest recession in modern history, with real per capita GDP falling for seven consecutive quarters as of Q3 2024. This reduction in per capita GDP has been driven by the household sector, where spending fell in six of the last seven quarters. The latest quarterly retail sales data from the ABS

The post Australia’s recession may finally be over appeared first on MacroBusiness.

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MacroBusiness Monday, March 3, 2025 - 09:00 Source

A very busy end of month session on Friday night saw a drop in US consumer spending but Wall Street played the short covering game while Chinese volatility spiked earlier in the session, causing European shares to make no advances. The USD is coming back against the undollars with new daily lows in Euro due

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Monday, March 3, 2025 - 06:29 Source

Goldman on the currency fantasy. We remain skeptical of a centrally-planned currency accord, but open to the possibility that shifting government policies around the globe could bring about the right conditions to weaken the Dollar. The market and macro set-up heading into either the Plaza Accord or the Smithsonian Agreement was very different than it

The post Australian dollar saved by Mar-a-Lago Accord? appeared first on MacroBusiness.

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MacroBusiness Monday, March 3, 2025 - 00:05 Source

CoreLogic’s results for February show that Melbourne is now the cheapest major capital city housing market in the nation. Melbourne’s median dwelling value was $772,561 at the end of February 2024, $124,052 (14%) below the national capital city median. The improved affordability of Melbourne’s housing market follows subdued growth over the past five years. As

The post How Melbourne became the cheapest housing market appeared first on MacroBusiness.

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New Politics Saturday, March 1, 2025 - 08:00 Source

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