Blogotariat

Oz Blog News Commentary
Digitopoly Monday, December 18, 2017 - 03:13 Source

Bitcoin uses energy. Lots of energy. It does this because as an incentive to ‘run the network,’ the Bitcoin protocol sets up a proof of work mechanism whereby to certify a block on the blockchain you need to win a computational contest. The great news is that this is a contest that everyone can have a chance of winning. Back in the olden days (circa 2009), that reward was 50 bitcoins and that added up to about 15 cents. These days the reward is 12.5 bitcoins or about $250,000.

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Poll Bludger Monday, December 18, 2017 - 02:29 Source

Relief for Malcolm Turnbull from Bennelong, but none from Newspoll, which records yet another stable result.

The post Newspoll: 53-47 to Labor appeared first on The Poll Bludger.

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MacroBusiness Monday, December 18, 2017 - 00:30 Source

Exclusively from Gerard Minack Australia seems set for another year of desultory growth, avoiding a statistical recession but experiencing per capita pain. Weak wages and a fading contribution from housing are now headwinds. Improved corporate sentiment suggests some upside risk to this scenario, but the most likely outcome is unchanged monetary policy, moderate A$ declines

The post Special Report: Gerard Minack on Australia’s per capita economic slump appeared first on MacroBusiness.

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MacroBusiness Monday, December 18, 2017 - 00:25 Source

By Leith van Onselen The Victorian Budget Update was released on Friday, which was largely another big spending, big taxing affair. In his Media Release, Treasurer Tim (“Ponzi”) Pallas spruiked Victoria’s booming economic conditions, which has led to an upgraded projected surplus of $1.7 billion in 2017-18, with estimated surpluses averaging $2.2 billion over the

The post Ponzi Pallas spins wildly as VIC Budget rides the bubble appeared first on MacroBusiness.

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MacroBusiness Monday, December 18, 2017 - 00:20 Source

DXY rebounded firmly Friday night as Trump tax reform is go: Australian dollar pulled back: EM forex took off: AUD CFTC speculative positioning lifted slightly to 41k last week, still moderately long: Gold held: Brent too: US rigs fell a bit last week but a new rush is coming: Base metals soared on growth hopes:

The post The Australian dollar smash of 2018 appeared first on MacroBusiness.

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MacroBusiness Monday, December 18, 2017 - 00:20 Source

Weeoo, weeoo, weeoo. The Pascometer is burning red on his new Chinese overlords: All this stuff about Sam Dastyari – but what about poor Huang Xiangmo? Bloke turns up here, observes how business has been traditionally done, pulls out the cheque book and finds himself painted as a cross between Karla and Blofeld with a touch

The post Pascometer burns red on his new Chinese overlords appeared first on MacroBusiness.

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MacroBusiness Monday, December 18, 2017 - 00:18 Source

For all you monetary anarchists out there, the world’s leading monetary anarchist just destroyed your new “currency”.

The post Steve Keen destroys Bitcoin appeared first on MacroBusiness.

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North Coast Voices Monday, December 18, 2017 - 00:16 Source

Then Australian Labour Prime Minister Julia Gillard announced her intention to call a royal commission into child sexual abuse on 12 November 2012.By 11 January 2013 six commissioners had been appointed and on 3 April 2013 the first of fifty-seven public hearings was underway.These public hearings conducted 57 case studies, 30 of which examined responses to child sexual abuse in religious institutions.The Royal Commission into Institutional Responses to Child Sexual Abuse formally closed on 15 December 2017 wh

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North Coast Voices Monday, December 18, 2017 - 00:15 Source

Is it any wonder reading this that the Australian Government was finally compelled to call  a royal commission into banks and banking practices commencing in 2018.ABC News, 14 December 2017:The Commonwealth Bank's ongoing woes around alleged systematic money laundering operations by criminal gangs and terrorists have deepened, with fresh claims the contraventions are continuing.The allegations were raised as AUSTRAC filed a fu

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MacroBusiness Monday, December 18, 2017 - 00:10 Source

CoreLogic released its auction report yesterday, which reported a small rise in the preliminary national auction clearance rate to 64.2% from 63.1% last weekend, but remained well below the 68.3% recorded in the same weekend last year: Auction volumes nationally were 2,865 – slightly above the 2,735 recorded in the same weekend last year: As

The post Auction clearances still weak appeared first on MacroBusiness.

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MacroBusiness Monday, December 18, 2017 - 00:05 Source

Iron ore price charts for December 15, 2017: Spot up. No need to adjust the TV, paper was limit up Friday night courtesy of a Trump tax frenzy. Steel is stuck. Most importantly, port stocks continue to climb, up another 900k tonnes to another all-time record at 142.6mt. This is the key driver of prices

The post Daily iron ore price update (the hoard builds) appeared first on MacroBusiness.

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MacroBusiness Monday, December 18, 2017 - 00:01 Source

Global Macro / Markets / Investing: Dreaming You Can Get the Returns of Stocks Without the Risk? Dream On – WSJ The economics of the Bitcoin payment system – VOX Bitcoin futures are about to get another big boost – CNBC John Griffin to Shut Blue Ridge Capital Hedge Fund After 21 Years – Bloomberg

The post Links 18 December 2017 appeared first on MacroBusiness.

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The Australian Independent Media Network Sunday, December 17, 2017 - 23:26 Source

“The horrible thing about the Two Minutes Hate was not that one was obliged to act a part, but, on the contrary, that it was impossible to avoid joining in.” George Orwell, 1984 Nothing in our politics excites such primitive passions than a public shaming of a traitor – and his expulsion from our virtuous…

The post Turnbull’s Yellow Peril 2.0 is the panda in the room. appeared first on The AIM Network.

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Your Democracy Sunday, December 17, 2017 - 21:03 Source

 

mueller gets some emails...mueller gets some emails...

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oecomuse Sunday, December 17, 2017 - 18:52 Source

The gargantuan Royal Commission into Institutional Responses to Child Sexual Abuse has come to a close. Its scale is almost impossible to comprehend: more than 1.2 million documents; testimony from over 8,000 people; a 21-volume final report; more than 400 recommendations.

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The Australian Independent Media Network Sunday, December 17, 2017 - 18:00 Source

By Ad astra Have you noticed how entrenched belief pervades our political and social life? Of course we have been accustomed to it in religious life for eons. There, for many people, it is the basis of their unswerving allegiance to a particular religion or sect. But its insidious permeation into political discourse and social…

The post We need to understand entrenched belief appeared first on The AIM Network.

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Club Troppo Sunday, December 17, 2017 - 16:38 Source

Well there’s been a frisson of excitement in the chess and AI world lately with the extraordinary performance of AlphaZero – essentially the computer that mastered the game Go – a game which proved, despite the relative simplicity of its rules, a much harder nut to crack than chess.

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The Australian Independent Media Network Sunday, December 17, 2017 - 16:33 Source

Ok, I guess you’ve all heard about John Alexander’s election night speech where he recalled telling a doctor who suggested that he’d be eligible for a disabled sticker that he still he had “pride”. Some people seemed to think that this could be regarded as being slightly insensitive, so Mr Alexander offered that wonderful apology…

The post John Alexander Once Had Pride But Then He Joined The Liberal Party! appeared first on The AIM Network.

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Renew Economy Sunday, December 17, 2017 - 15:08 Source

South Australia government to fast-track switch to renewable energy by contracting with SIMEC ZEN Energy while Aurora 150MW solar tower and molten salt storage project is built. It will help underpin Zen's own 1GW solar and storage plans.

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John Quiggin Sunday, December 17, 2017 - 13:44 Source

My observations on the electricity demand associated with Bitcoin made it into the ABC News Quiz last week, which is a kind of fame, I guess.

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Harrangue Man Sunday, December 17, 2017 - 12:38 Source

With thanks to YouTube.I have a womb-deformed skeleton that left me with short fingers, double-jointed little fingers and a poor grasp. Combining that with injury, medication and PTSD means I'm left with a normative state of fingers with a fine tremble and difficulty manipulating objects.I was sitting in the semi-dark of my room attempting to open a Christmas card envelope when theboy, playing a side-scrolling web game, clicked the formerly mobile toy Xmas tree that blares out "Yakety Sax".

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The Australian Independent Media Network Sunday, December 17, 2017 - 12:31 Source

Being a moralist in the Olympics doesn’t carry you very far. Turn one way, and there are enterprising drug cheats; turn another, there are wads of cash in envelopes finding their inexorable way to an official’s accounts. The challenge of the Olympics is, in a fundamental way, a challenge of institutional decay, ruination and sport…

The post Neutral Athletes: Russia, Drugs and the Olympics appeared first on The AIM Network.

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The Tally Room Sunday, December 17, 2017 - 11:30 Source

There wasn’t much suspense in last night’s by-election results – it was clear early on that Labor wasn’t coming close to the swing they needed to win the seat. There was a sizeable swing (approximately 5.7% after preferences) which dented the Liberal margin. If this swing was repeated at an election the current government would easily lose its majority, but it would be dangerous to extrapolate this result to a general election. Federal polling has suggested that Labor is up by between 2% and 5%, so the by-election isn’t far outside of this range.

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Your Democracy Sunday, December 17, 2017 - 09:43 Source

XYZ affair cartoon detail.

it is now a year since President Trump took office in the White House. It is becoming possible to discern his political ambitions, despite the destructive confrontation in the US between his partisans and his adversaries, detrimental to all.

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MacroBusiness Sunday, December 17, 2017 - 09:30 Source

By Leith van Onselen In February last year I noted that the cigarettes tax – a policy adopted by both major parties in the lead-up to the Federal Election – would achieve two broad outcomes: It would fail to raise the projected revenue. With smoking rates falling, it is a declining tax base and this decline

The post Tobacco tax fuels black market crime wave appeared first on MacroBusiness.

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The Australian Independent Media Network Sunday, December 17, 2017 - 09:26 Source

Of the 400 hundred or so recommendations in the Royal Commission’s final report on institutionalised child sex abuse, two were at the forefront of discussions in the MSM and social media yesterday. These were the alleged role of celibacy in causing pedophilia, and the call by some churches for women to be given more authoritative…

The post Notes from an expert survivor appeared first on The AIM Network.

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MacroBusiness Sunday, December 17, 2017 - 09:00 Source

By Leith van Onselen After last month destroying the flimsy arguments for mass immigration perpetuated by the boosters at the RBA and the Australian Treasury, The Australian’s Judith Sloan has penned another article arguing that Australia’s record migrant intake is squeezing the life from Australia’s two major cities: The permanent migrant numbers are set at

The post Former Productivity Commissioner: mass immigration squeezing life from cities appeared first on MacroBusiness.

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Poll Bludger Sunday, December 17, 2017 - 05:06 Source

A quiet week for national polling leaves Malcolm Turnbull looking a little bit better on personal approval, but a little bit worse on voting intention.

The post BludgerTrack: 54.1-45.9 to Labor appeared first on The Poll Bludger.

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North Coast Voices Sunday, December 17, 2017 - 00:16 Source

Excerpt from AUSTRALIAN NEWSPAPER HISTORY GROUP, NEWSLETTER No. 95, December 2017:The Australian Financial Review’s weekday edition increased its print readership by 14.9 per cent to 347,000 people during the 12 months ending in August. The AFR Weekend rose 4.8 per cent to 130,000 people. The weekday Australian increased its print readers by 5.6 per cent in the past 12 months. The paper’s weekday audience rose 26,000 to 494,000, while the Weekend Australian was up 2.8 per cent to 590,000 for the 12 months ending in August, according to the Enhanced Media Metrics Australia statistics.

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North Coast Voices Sunday, December 17, 2017 - 00:15 Source

Senate Environment and Communications References Committee, Inquiry Report, Shark mitigation and deterrent measures, December 2017:List of recommendations Recommendation 1 8.19 The committee recommends that the New South Wales and Queensland Governments: * immediately replace lethal drum lines with SMART drum lines; and * phase out shark meshing programs and increase funding and support for the development and implementation of a wide range of non-lethal shark mitigation and deterrent measures.

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