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MacroBusiness Wednesday, August 22, 2018 - 00:20 Source

They just keep coming. The first shock was an unlooked for and thoroughly welcome closure of the Chinese capital account which smashed the number of foreign buyers: It’s only likely to intensify as China fights the trade war. Even as we mulled which alien species would arrive to replace the Chinese at auctions, a second

The post Multiple exogenous shocks are pounding Aussie property appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 22, 2018 - 00:15 Source

By Leith van Onselen The latest data has not been kind to Melbourne’s housing market, where losses are accelerating. Melbourne’s auction clearance rate has crashed to levels not seen since the 2011-12 correction: The weekend’s preliminary clearance rate was just 55.7% – 20% below the same weekend last year and certain to fall into the

The post Melbourne’s housing correction gathers pace appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 22, 2018 - 00:15 Source

By Leith van Onselen After Melbourne last week lost its bogus title of “most liveable city”, five so-called experts were asked to provide their solutions to making Melbourne more liveable. From Domain: Demographics Group Research Director Simon Kuestenmacher: Mr Kuestenmacher said Melbourne needs to look closely at shifting its urban building (and planning) priorities to

The post Liveability ‘experts’ ignore only solution to stop the rot appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 22, 2018 - 00:10 Source

By Leith van Onselen Nearly a year after Holden closed its assembly operations in October 2017, ending 69-years of local production and axing close to 1,000 jobs, there’s some good news to report, with Holden to employ 150 engineers as it becomes GM’s R&D hub developing autonomous and electric vehicle technology. From Manufacturing Monthly: At a media

The post Holden factory reborn as electric vehicles hub appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 22, 2018 - 00:01 Source

Global Macro / Markets / Investing: After the Bitcoin Boom: Hard Lessons for Cryptocurrency Investors – NY Times Paul Singer, Doomsday Investor – New Yorker Framing Turkey’s Financial Vulnerabilites: Some Rhymes with the Asian Crisis, but Not a Repeat – Council on Foreign Relations At Heart of New Fed Debate: Bonds or Bills? – WSJ

The post Links 22 August 2018 appeared first on MacroBusiness.

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En Passant Tuesday, August 21, 2018 - 21:27 Source

 

I have just started as the Canberra correspondent for Independent Australia.

 

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To do so click here.

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Politically homeless Tuesday, August 21, 2018 - 21:21 Source

The Coalition has two choices going forward, and both depend on the Labor Party. This means that the leader of the Labor Party, Bill Shorten, is more powerful than the current Prime Minister and more powerful than any Liberal who might replace him (Dutton, Abbott, Bishop, Morrison, take your pick).Shorten's first optionTurnbull could reach out to Labor to pass a bipartisan NEG. It is possible that Shorten would play a cat-and-mouse game with him, and send Turnbull back to his party room with a deal he cannot sell, but this is not consistent with our experience of him.

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Press gallery reform Tuesday, August 21, 2018 - 21:21 Source

The Coalition has two choices going forward, and both depend on the Labor Party. This means that the leader of the Labor Party, Bill Shorten, is more powerful than the current Prime Minister and more powerful than any Liberal who might replace him (Dutton, Abbott, Bishop, Morrison, take your pick).Shorten's first optionTurnbull could reach out to Labor to pass a bipartisan NEG. It is possible that Shorten would play a cat-and-mouse game with him, and send Turnbull back to his party room with a deal he cannot sell, but this is not consistent with our experience of him.

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The Australian Independent Media Network Tuesday, August 21, 2018 - 19:38 Source

After deciding that the “overwhelming support” of the party room wasn’t enough to pursue the policy endorsed on Friday, Malfunction decided that he needed to change the polidy because overwhelming support isn’t the same as enough support. He changed it yesterday. Moving on… Sky News told us today that some Coalition members called for an…

The post The Loveliest Leadership Challenge Where Everyone Sang Kumba Ya! appeared first on The AIM Network.

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MacroBusiness Tuesday, August 21, 2018 - 17:12 Source

Asian markets continue their positive start to the week, except locally where political shenanigans bordering on Italian style turnstiles and backknivery. Outside Australia stocks were generally positive as the reversal in USD strength continued, helped by a much stronger Yuan setting by the PBOC. There’s short squeezing everywhere in the majors, particularly Pound Sterling but

The post Macro Afternoon appeared first on MacroBusiness.

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The Australian Independent Media Network Tuesday, August 21, 2018 - 17:00 Source

Being the head of a creature essentially without spine, and, even more to the point, with vague form, must be something of a challenge. Part of the failing of the United Nations probably lies in its disparate existence, a scattered composition of bureaucratic entities that, when they come together, supply a perfect picture of inertia.…

The post Charisma and Banality: Kofi Annan and the UN appeared first on The AIM Network.

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John Quiggin Tuesday, August 21, 2018 - 16:58 Source

Since he first entered the Australian political scene as a leading proponent of republicanism, Malcolm Turnbull’s career has been one long series of disappointments, which involved failing (more or less steadily) upwards.  Barring a miracle, his career is now effectively over. In the unlikely event that he survives as PM to the next election, he is assured of electoral defeat and subsequent oblivion.

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Renew Economy Tuesday, August 21, 2018 - 14:39 Source

GM Holden will hire 150 new engineers at its Port Melbourne plant, to fast-track the development of 20 new EVs by 2023, and an AV by 2019.

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MacroBusiness Tuesday, August 21, 2018 - 14:08 Source

And on it goes, via Domainfax: The retail group that owns Rebel Sports, Supercheap Auto and Macpac has admitted to underpaying workers by almost $8 million after incorrectly calculating overtime pay and allowances. Super Retail Group on Tuesday said it was booking provisions in its full-year accounts of $7.9 million in anticipation of back payments

The post Supercheap wages! appeared first on MacroBusiness.

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Renew Economy Tuesday, August 21, 2018 - 14:04 Source

Thousands of reservation holders invited to inspect a "mass market" Tesla Model 3 electric vehicle in Australia for the first time. But they will have to wait at least another year for delivery.

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Renew Economy Tuesday, August 21, 2018 - 14:02 Source

After having to wait, ironically, for strong winds to subside, the first wind turbine in what will be Australia’s world’s first utility-scale, on-grid wind, solar and battery energy storage project have been installed. The last blade of the first Vestas 3.6MW turbine was installed on Monday at the 60.2MW first stage of the Kennedy energy...

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MacroBusiness Tuesday, August 21, 2018 - 14:00 Source

By Leith van Onselen A report from the Melbourne University’s Centre for Corporate Governance & Regulation has cast doubt on the general perception that Australian CEOs are overpaid. Indeed, the Centre concluded that the majority of Australian CEOs are paid less compared to their overseas counterparts at companies in the same sector and of a

The post Aussie CEOs underpaid? Tell ’em they’re dreaming appeared first on MacroBusiness.

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Renew Economy Tuesday, August 21, 2018 - 14:00 Source

Ratch Australia begins electrification of its 180MW Mount Emerald wind farm, says full operation expected to commence in November this year.

The post Queensland’s biggest wind farm powers up near Mareebra appeared first on RenewEconomy.

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MacroBusiness Tuesday, August 21, 2018 - 13:23 Source

The post John Oliver slaughters Bob Katter appeared first on MacroBusiness.

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Renew Economy Tuesday, August 21, 2018 - 13:12 Source

solar farmBerri Barmera Council issues tender to build and operate 10MW solar farm in South Australia Riverland region.

The post SA council launches tender to build 10MW solar farm in Riverland region appeared first on RenewEconomy.

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MacroBusiness Tuesday, August 21, 2018 - 13:00 Source

By Leith van Onselen Legislation to allow Australia to ratify the OECD’s multilateral tax treaty convention has been passed by parliament. The treaty is aimed at curbing profit shifting and tax base erosion, and tax experts claim it should clamp down on the abuse of tax treaties and help to stop double taxation. David Watkins

The post Laws passed to end tax ‘treaty shopping’ appeared first on MacroBusiness.

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MacroBusiness Tuesday, August 21, 2018 - 12:30 Source

Via Bill Evans: Westpac has extended its financial forecasts to end 2020. We expect the RBA cash rate to remain on hold through 2020 . The tightening of financial conditions which is normally associated with increases in the RBA cash rate has been replaced, in this cycle, with macro prudential policies and rising wholesale interest

The post Westpac extends interest rates hold outlook to forever! appeared first on MacroBusiness.

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MacroBusiness Tuesday, August 21, 2018 - 12:15 Source

By Leith van Onselen Statistics New Zealand released its permanent & long-term migration figures for July 2018, which revealed that immigration into New Zealand has continued to drift back from record high levels, with 63,779 annual net permanent and long-term arrivals landing in New Zealand in the year to July, down from a peak of

The post NZ immigration eases as Kiwis head back to Australia appeared first on MacroBusiness.

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MacroBusiness Tuesday, August 21, 2018 - 12:04 Source

BREAKING I’m now told Turnbull is weighing up calling an election rather than risk another challenge. The reaction from one backbencher “F@$k me dead. We’ll get annihilated”@SkyNewsAust — Laura Jayes (@ljayes) August 21, 2018 We could have sizable immigration cuts by Spring and negative gearing reform by Autumn. Goodbye house prices.

The post “F@$k me dead”, an early election appeared first on MacroBusiness.

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MacroBusiness Tuesday, August 21, 2018 - 12:00 Source

From Greg Jericho today: The single biggest boast the Liberal party has been able to cling to has been strong employment growth. This year the talk has mostly been about the record growth of 2017, and such a line would get a tad tired by the time 2019 comes around. But should things pick up

The post Greg Jericho prints more corporate wage-crushing propaganda appeared first on MacroBusiness.

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MacroBusiness Tuesday, August 21, 2018 - 11:59 Source

AUD is up through the morning as DXY falls right out of bed: Long end yields are still under pressure: Even so, the ASX has taken a goodly hit: Dalian is weak: Big Iron is down as well: Big Gas is off while ORG is being crushed by Coalition energy lunacy (though ORG has it

The post PM Dutton goes down on ASX like a lead balloon appeared first on MacroBusiness.

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MacroBusiness Tuesday, August 21, 2018 - 11:54 Source

By Leith van Onselen The Australian Bureau of Statistics (ABS) today released Producer Price Index (PPI) data for the June quarter, which registered a 0.3% quarterly rise in final (stage 3) prices and an increase of only 1.5% over the year: The 0.3% rise in final (stage 3) prices was driven primarily by rises in

The post PPI confirms minimal inflationary pressures appeared first on MacroBusiness.

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Renew Economy Tuesday, August 21, 2018 - 11:52 Source

Darren Miller, the co-founder of electricity retailer Mojo Power has been named as the new chief executive of ARENA.

The post Mojo co-founder Darren Miller gets top job at ARENA appeared first on RenewEconomy.

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MacroBusiness Tuesday, August 21, 2018 - 11:45 Source

By Leith van Onselen In the wake of the massive cost blow-outs and delays hitting both the Parramatta Light Rail Project and the Eastern Suburbs Light Rail Project, the former head of Infrastructure NSW, Paul Broad, in June described the Eastern Suburbs Light Rail Project as a waste of money and a vanity project that should have never been

The post Auditor, RBA slam Sydney’s Light Rail farce appeared first on MacroBusiness.

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Your Democracy Tuesday, August 21, 2018 - 11:35 Source
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