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The Australian Independent Media Network Wednesday, October 18, 2017 - 19:25 Source

“Isn’t it rich?” … “Isn’t it queer?” I could weep for humanity … I could just f#cking … weep for them … for us. If you were to look at it objectively, you’d have to agree that most of the advancements made for the betterment of society, have been made not on the successes, but…

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Inside Story Wednesday, October 18, 2017 - 17:57 Source

Politicians these days tend to declare any step forward as a wholesale solution, no matter how complex the problem. Thus it is with the Energy Security Board’s proposed national energy guarantee, revealed yesterday, which would require electricity retailers to contract with generators to ensure that a reserve of reliable power will be available to meet their peak demand.

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Renew Economy Wednesday, October 18, 2017 - 15:45 Source

NEG appears to be the most ill-considered, poorly detailed and potentially useless policy that anyone can remember, and a disaster for renewable energy, climate targets and consumer prices. It appears to be the work of Australia's so-called "energy mafia", hungry to retain power of incumbent oligopoly.

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Renew Economy Wednesday, October 18, 2017 - 15:30 Source

Amongst all the sound and fury regarding the Government’s energy plan there is a central question going unanswered - what is the level of emissions reduction being proposed by the Government? And at what cost?

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Renew Economy Wednesday, October 18, 2017 - 15:30 Source

Amongst all the sound and fury regarding the Government’s energy plan there is a central question going unanswered - what is the level of emissions reduction being proposed by the Government? And at what cost?

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Renew Economy Wednesday, October 18, 2017 - 15:18 Source

The runway to strong emission reductions at an affordable price is at risk of being thrown away under the Coaliton's new this policy, which could require retailers to buy the output from its own expensive Snowy Hydro project. The energy mafia would approve.

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Renew Economy Wednesday, October 18, 2017 - 14:46 Source

States stunned by lack of detail in new energy policy. In a testy phone hook-up they were told all the government had was a press release and an eight-page letter.

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Renew Economy Wednesday, October 18, 2017 - 14:46 Source

States stunned by lack of detail in new energy policy. In a testy phone hook-up they were told all the government had was a press release and an eight-page letter.

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Renew Economy Wednesday, October 18, 2017 - 14:28 Source

Origin Energy's newly released decarbonisation plan shows the gen-tailer is taking climate change rather more seriously than the Coalition.

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Renew Economy Wednesday, October 18, 2017 - 14:05 Source

The Australian public has been ‘negged’ by unfounded fears of blackouts. Will we be 'begged' again by the proposed new energy policy?

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MacroBusiness Wednesday, October 18, 2017 - 13:36 Source

MB prodding appears to have tipped Rob Burgess over the edge on population: Pauline Hanson’s One Nation party continues to stoke fears that Australia is becoming “Asian-ised” (whatever that means), and Australian Conservative leader Cory Bernardi complains of the growing threat of “‘influencers’ bankrolled by the Chinese Communist Party”. The antidote to those scare-mongering views is that China’s

The post Burgess: Sell China the parliament to protect tourism appeared first on MacroBusiness.

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Club Troppo Wednesday, October 18, 2017 - 13:22 Source

Cross posted at The Mandarin.

“Principles are good and worth the effort only when they develop into deeds” — Vincent Van Gogh

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MacroBusiness Wednesday, October 18, 2017 - 13:08 Source

The ASX200 melt-up continues today: The key to it is still driving as bond yields fall away: Dalian has held its gains today: Big Iron is resting: Big Gas too: Big Gold no longer cares that gold is falling! Big Sleazy is mostly up: Big Liar too: So long as yields keep pricing out rate

The post ASX charges higher as yields break lower appeared first on MacroBusiness.

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MacroBusiness Wednesday, October 18, 2017 - 13:03 Source

By Ross Elliott, cross-posted from The Pulse US based urbanist Richard Florida – once described as an “intellectual Rockstar” – shot to fame with his 2002 book The Creative Class. He was on a global speaking tour that took in many Australian cities, arguing that the secrets to economic development lay in attracting legions of

The post Higher income professionals haven’t yet abandoned suburbia appeared first on MacroBusiness.

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MacroBusiness Wednesday, October 18, 2017 - 12:20 Source

By Leith van Onselen This site has gone to great effort exposing the pitfalls of the ACT Light Rail Project. Late last year, secret NSW Government documents were released revealing that the Parramatta Light Rail Project – the centrepiece of the Government’s plans to cement Parramatta as Sydney’s second central business district, as well as

The post NSW Government tries to hide light rail white elephant appeared first on MacroBusiness.

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Renew Economy Wednesday, October 18, 2017 - 12:20 Source

China has installed 42GW of new solar PV in 2017 so far, putting it on track to reach a record 50GW for the year. Meanwhile, in battery storage...

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MacroBusiness Wednesday, October 18, 2017 - 12:03 Source

From the latest NAB Residential Property Survey comes some welcome news: The influence of foreign buyers in Australian property markets continued to lessen according to surveyed property professionals, suggesting that tighter conditions imposed on foreign buyers is still having an impact. In Q3, foreign buyers accounted for 10.2% of all new property purchases (10.4% in

The post Foreign buyers abandon Aussie property appeared first on MacroBusiness.

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MacroBusiness Wednesday, October 18, 2017 - 11:58 Source

Ebrahim Rahbari, Citi’s head of global macroeconomics: The day you finally have enough housing in Sydney is the day I wouldn’t want to be caught with a big mortgage. I think there is a real danger when certain developments have gone on for a long time, and in Australia in particular the combination of high

The post Citi: Aussie housing bubble to hit trouble in 2019 appeared first on MacroBusiness.

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MacroBusiness Wednesday, October 18, 2017 - 11:32 Source

Via S&P: The number of delinquent housing loans underlying Australian prime residential mortgage-backed securities (RMBS) fell to 1.10% in August from 1.17% in July, according to a recent report by S&P Global Ratings. The decline, which is not unusual because arrears typically have fallen in August for the past 10 years, was partly influenced by

The post Mortgage arrears fall in cities, boom in regions appeared first on MacroBusiness.

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MacroBusiness Wednesday, October 18, 2017 - 11:05 Source

From BHP’s first QTR update: Iron ore – Total iron ore production for the September 2017 quarter decreased by three per cent to 56 Mt, or 64 Mt on a 100 per cent basis. Guidance for the 2018 financial year remains unchanged at between 239 and 243 Mt, or between 275 and 280 Mt on

The post BHP moves past iron ore bottlenecks appeared first on MacroBusiness.

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Renew Economy Wednesday, October 18, 2017 - 11:02 Source

Assuming it is implemented, the Turnbull government's National Energy Guarantee will in effect establish a de facto price on carbon emissions from the power sector.

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The Australian Independent Media Network Wednesday, October 18, 2017 - 11:00 Source

Denis Bright invites discussion on the prospects for a UN sponsored nuclear weapons free world commencing with conflict resolution on the Korean Peninsula. Is this scenario the logical outcome of the federal LNP’s own rhetoric on rules based diplomacy? Could a bipartisan arrangement with Bill Shorten advance this peace agenda for our region? Since the…

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MacroBusiness Wednesday, October 18, 2017 - 10:47 Source

Via Westpac: • The six month annualised growth rate in the WestpacMelbourne Institute Leading Index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, slipped from –0.16% in August –0.21% in September. The growth rate remains negative pointing to below trend momentum and a sharp turnaround

The post Australian leading index slip slides away… appeared first on MacroBusiness.

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MacroBusiness Wednesday, October 18, 2017 - 10:42 Source

Via Bloomie: Canada’s banking regulator released final rules that will make it tougher for borrowers to take on uninsured mortgages, adding to a growing list of measures to rein in the nation’s housing markets. The Office of the Superintendent of Financial Institutions announced measures targeting borrowers in the uninsured segment of the mortgage market that has been responsible for

The post Canadian housing entering “severe correction” appeared first on MacroBusiness.

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MacroBusiness Wednesday, October 18, 2017 - 10:16 Source

Work for Goldman Sachs. Become PM. Do nothing about house prices. Ramp immigration. Sell your mansion to a Chinese investor. Then join the bank: ANZ has appointed former New Zealand Prime Minister John Key as chairman of ANZ New Zealand. He will succeed John Judge as chairman as he retires from the board of directors in January,

The post Former NZ PM becomes banker appeared first on MacroBusiness.

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MacroBusiness Wednesday, October 18, 2017 - 10:11 Source

Quite rightly: “What’s very clear is that the government is scrambling. We have policy on the run. We have an energy policy being put together with strings and bandaids,” shadow treasurer Chris Bowen said Tuesday morning. “What is very clear and has been publicly confirmed by the Energy Security Board, is that this policy that

The post Labor to take it time on NEG appeared first on MacroBusiness.

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MacroBusiness Wednesday, October 18, 2017 - 09:55 Source

By Leith van Onselen When the National Broadband Network (NBN) arrived in my area late last year residents were greeted with a barrage of junk mail advertisements from all manner of internet service providers offering competitively priced internet at fast speeds. At the time, I was under contract with Telstra, so I did not consider

The post NBN turns into a costly horror story appeared first on MacroBusiness.

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MacroBusiness Wednesday, October 18, 2017 - 09:16 Source

By Leith van Onselen We’ve got the Real Estate Treasurer swanning around New York telling anyone who will listen that there is no Australian housing bubble. Now, Secretary of the Australian Treasury, John Fraser, has given a speech last night at Citi’s annual investment conference, which is worth dissecting for its spin value relating to Australia’s

The post Treasury launches panicked bubble-defence campaign appeared first on MacroBusiness.

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The Melbourne Urbanist Wednesday, October 18, 2017 - 09:10 Source

Driving will inevitably continue to have a huge impact on the liveability of Australia’s growing cities – policy-makers must stop ignoring the car and start “taming” it Does driving matter for a city’s liveability? Advertisements

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MacroBusiness Wednesday, October 18, 2017 - 08:51 Source

Welcome to a little credit crunching, via Banking Day today: Suncorp is tightening its lending standards for apartment buyers in the Brisbane property market following recent falls in real estate prices across the city. In a memo sent to Queensland mortgage brokers on Tuesday, the bank said it would no longer accept investment applications for apartments

The post Banks pull Brisvegas loans as apartments tumble appeared first on MacroBusiness.

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