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MacroBusiness Thursday, July 23, 2015 - 00:30 Source

Courtesy of Zero Hedge and from Caterpillar’s earnings release: Super cycle going super bust!  

The post Caterpillar crash deepens appeared first on MacroBusiness.

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MacroBusiness Thursday, July 23, 2015 - 00:10 Source

From the World Steel Association: World crude steel production for the 65 countries reporting to the World Steel Association (worldsteel) was 136 million tonnes (Mt) in June 2015, a -2.4% decrease compared to June 2014. World crude steel production in the first six months of 2015 was 813.0 Mt, a decrease of -2.0% compared to

The post Global steel output falls for sixth month appeared first on MacroBusiness.

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MacroBusiness Thursday, July 23, 2015 - 00:06 Source

Here are the iron ore charts for July 22, 2015: Qingdao eased but Tianjin benchmark was smashed 2.8% to $50.70. 12 month swaps are back at the precipice. Dalian September fell sharply yesterday and more overnight to 376. January was smacked 4% to 349. Rebar average did a total 180 and crashed to a new

The post Daily iron ore price update (big iron bust) appeared first on MacroBusiness.

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MacroBusiness Thursday, July 23, 2015 - 00:04 Source

Brent oil was hammered 2% to $55.98 last night on a range of indicators: US EIA crude inventories rose 2.5mbl versus and expected draw of 2.2mbl OPEC delegates said they won’t cut output the US dollar was firmer John Kemp argues we are already seeing a shale response: …the number of completions reported over a period

The post Daily LNG price update (smash) appeared first on MacroBusiness.

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MacroBusiness Thursday, July 23, 2015 - 00:03 Source

Communists. From China Daily: Recent overweighting to stem A-share plunge has made China Securities Finance Corp(CSF), central bank-backed refinancing institution, among top 10 shareholders of many listed-firms, reported Securities Times on Wednesday. Among all investments, eight firms have been confirmed of the CSF’s stake, which includeproperty developer Dulexe Family, Hualan Biological Engineering, resource purifyingdeveloper SJ

The post Guess who’s buying the Shanghai bust? appeared first on MacroBusiness.

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MacroBusiness Thursday, July 23, 2015 - 00:02 Source

From JCap’s Anne Stephenson-Yang via FtAlphaville: As with all such things in China, the appearance of operating an independent statistical system that has been “reformed” is critical; statisticians rarely resort to altering the data themselves but instead induce those reporting to them to make adjustments to the underlying data such that the NBS can achieve its

The post Why China gooses GDP appeared first on MacroBusiness.

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MacroBusiness Thursday, July 23, 2015 - 00:01 Source

Global Macro / Markets / Investing: Blackstone champions hedge funds for the little guy – Reuters Wells Fargo & Co. Is the Earth’s Most Valuable Bank - Wall Street Journal The Next Big Short… - The Reformed Broker You Can’t Reform Your Way to Rapid Growth – growthecon.wordpress.com More Debt Traders at Risk as European

The post Links 23 July 2015 appeared first on MacroBusiness.

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Politically homeless Wednesday, July 22, 2015 - 20:54 Source

And we'll paint by numbers 'til something sticksAnd I don't mind doing it for the kids(So come on) jump on boardTake a ride (yeah)(You'll be doin' it all right)Jump on board feel the high'Cause the kids are alright- Kylie Minogue and Robbie Williams Kids

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Croakey Wednesday, July 22, 2015 - 20:04 Source

This week, Bronwyn Hemsley, an Associate Professor in Speech Pathology and a Certified Practicing Speech Pathologist at The University of Newcastle, is in the chair at @WePublicHealth. @bronwynhemsley  has a special interest in people who need or...

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The Australian Independent Media Network Wednesday, July 22, 2015 - 19:09 Source

By Sean Crawley

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Croakey Wednesday, July 22, 2015 - 16:51 Source

(Updated 23 July to add Medibank response). Australian Medical Association president Brian Owler today issued a stern warning over “more aggressive” negotiations emerging between private health insurers and funds in Australia,...

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Delimiter Wednesday, July 22, 2015 - 16:45 Source

Labor’s Shadow Assistant Minister for Communications Michelle Rowland has made a series of nebulous statements expressing vague concern about the Government’s latest package of telco-related national security reform, but without actually taking a position on the controversial legislation.

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Delimiter Wednesday, July 22, 2015 - 16:10 Source

The Royal Automobile Club of Western Australia this week revealed it had build a network of charging stations around the state that can be used by anyone with an electric vehicle, as infrastructure of this kind continues to be deployed around the nation.

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MacroBusiness Wednesday, July 22, 2015 - 16:02 Source

As goes Apple, as goes the US stock market. So, unless we see something spectacular from European markets, we should see a modestly risk-off session in the US. When you see Apple fall 6.9% and Microsoft 4% in the post-market, you knew NASDAQ futures especially would struggle (currently -1.2%). Dow and S&P futures are down

The post ASX at the close appeared first on MacroBusiness.

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Delimiter Wednesday, July 22, 2015 - 15:52 Source

Three months after the deadline set by Communications Minister Malcolm Turnbull, the telecommunications and content industries are still deadlocked on who will pay for the cost of administering their co-developed industry code to deal with Internet piracy.

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En Passant Wednesday, July 22, 2015 - 14:35 Source

Gary Foley has written the following on Facebook about the recognition campaign:

I have seen it suggested that the debate about constitutional recognition merely involves discussion about the wording of proposed change. The simple truth is that there is NO argument in Black Australia about the wording. That is an illusion generated by the tiny minority of mostly black middle-class advocates of recognition.

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MacroBusiness Wednesday, July 22, 2015 - 14:35 Source

Even before the government’s options paper on tax reform is released later this year, many reforms have been taken off the table, at least before the next election. Here’s the expert view on six. Broadening or increasing the GST Some experts say expanding the GST, which is a regressive tax, would unfairly hit middle-income earners

The post Six simple tax reforms plagued by politics appeared first on MacroBusiness.

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Renew Economy Wednesday, July 22, 2015 - 14:30 Source

The Greens leader chose to go off-grid 10 years ago, largely because of the huge costs of connecting his then weekender to the grid.

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Renew Economy Wednesday, July 22, 2015 - 14:26 Source

From 'visionary' to 'economic game-changer' to first step in right direction, here's what people are saying about Labor's renewables policy announcement.

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Renew Economy Wednesday, July 22, 2015 - 14:23 Source

Deutsche Bank report highlights how dramatic India's renewable energy revolution will be – and what it will mean for Abbott's coal plans.

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Prosper Australia Wednesday, July 22, 2015 - 14:09 Source

The Housing Industry Association’s Harley Dale and the Urban Development Institute’s Michael Corcoran have called for the repeal of Stamp Duty in favor of a broad-based land tax, News Corp reports today. Both lobby groups fear an extension of the GST to building products, which would be passed on in higher new house prices and […]

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MacroBusiness Wednesday, July 22, 2015 - 13:43 Source

By Leith van Onselen Mortgage Choice has released its latest investor survey, which reveals that first home buyers (FHBs) continue to flock to investment properties: According to Mortgage Choice’s latest Investor Survey, 36.6% of investors were first time buyers – significantly higher than the 21.1% recorded this time last year. Mortgage Choice chief executive officer

The post More on rise of the FHB specufestor appeared first on MacroBusiness.

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Renew Economy Wednesday, July 22, 2015 - 13:26 Source

If you look at the carbon tax as an experiment, there are four main conclusions you can draw from its results, 12 months after the price was removed.

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MacroBusiness Wednesday, July 22, 2015 - 13:26 Source

By Leith van Onselen The June quarter consumer price index (CPI) data, released today by the Australian Bureau of Statistics (ABS), revealed continued weak rental growth at the national capital city level. According to the ABS, rents nationally grew by 0.4% over the June quarter of 2014 – the equal lowest quarterly growth since March

The post Australia’s landlord army under more rental pressure appeared first on MacroBusiness.

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Renew Economy Wednesday, July 22, 2015 - 13:26 Source

Apple's appointment of another auto industry veteran is being interpreted by some as further evidence the tech giant has an electric vehicle in the works.

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Renew Economy Wednesday, July 22, 2015 - 13:25 Source

New UK report concludes that falling costs of offshore wind will result in projects installed after 2020 being cost-competitive with new gas plants.

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The Australian Independent Media Network Wednesday, July 22, 2015 - 13:24 Source

There’s going to be a trial of the driver-less car in South Australia.

Now, I just read that the driver-less Google cars in the US have been in eleven accidents since they were put on the road. So what happens when the technology fails or gets hacked, and there’s a fatality? Let’s do a quick poll.

If a driver-less car is involved in a fatality because of the technology, would you support taking them off the road until they’re safe?

Don’t answer straight away because we’re coming back to this later. Pause and think about it. Take your time while I relate my experience when I posted the following photo:

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MacroBusiness Wednesday, July 22, 2015 - 13:23 Source

Capt’ Glenn appeared today and delivered a bit of a glass-half-empty take on growth prospects arguing basically that the Australian economy has entered a secular stagnation in which trend growth is sub-3%. This hit the dollar and bid up bonds, as did his admission that rate cuts remain an option. It didn’t do much for the

The post Capt’ Glenn: Australia in secular stagnation? appeared first on MacroBusiness.

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MacroBusiness Wednesday, July 22, 2015 - 13:07 Source

Big iron ore is taking it in the team today as the iron ore bounce looks very thin. BHP is down 1.5% and RIO down 1.1% with FMG up 2% for giggles:   Idiocy spreads are zipping closed:   Juniors dead:   Dalian is fading too, down another 2 points from the overnight price at

The post Big iron fades with futures appeared first on MacroBusiness.

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Renew Economy Wednesday, July 22, 2015 - 12:58 Source

Outback Qld Shire of Winton to build two 150kW geothermal plants in ambitious plan to supply their own locally generated power to council buildings.

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