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MacroBusiness Wednesday, August 16, 2017 - 13:29 Source

Via Macquarie: The business cycle in the Eurozone We forecast growth in the Eurozone to be 2.1% YoY this year, the highest since 2001. Lagging the US recovery by 3-4 years, we expect Eurozone growth to remain above trend. As with the US, as the rate of employment growth fades, so will consumption and overall

The post A peak inside the Eurozone recovery appeared first on MacroBusiness.

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The Australian Independent Media Network Wednesday, August 16, 2017 - 13:23 Source

By Melissa A. Frost I see myself as a bit of a social observer. I listen and watch: reading through reams of threads on Social Media, establishing the pulse of the populace. In the last couple of years I have noticed an alarmingly increasing trend of alienated baby boomer single mothers. It’s subtle. Lying between…

The post She is to blame for everything appeared first on The AIM Network.

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MacroBusiness Wednesday, August 16, 2017 - 13:06 Source

Politics is so weird these days (from The Australian): Under the deal announced last night, One Nation would support the abolition of the two-out-of-three and reach rules in return for the government agreeing to legislate a requirement for the ABC and SBS to be balanced and to publish the wages of highly paid ABC staff.

The post Announcing Fox News (ABC edition) appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 16, 2017 - 12:34 Source

Via Morgan Stanley: ‘…so you’re a commodity analyst, and you don’t track bitcoin? Should I be worried about that?’ – bitcoin enthusiast Latest fiat money: Bitcoin’s value has lifted about 5x since a period of relative stability pre-Nov-16, to over $4,000/bitcoin (Exhibit 1,2), on mainly rising geopolitical tensions. Curiously, we’re receiving investor queries on this

The post Bitcoin versus gold appeared first on MacroBusiness.

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Harrangue Man Wednesday, August 16, 2017 - 12:22 Source

I was in the shed when the insistent tapping began on the shed wall, like a woodpecker on a tree only chicken on metal. It was one of the browns. She cocked an eye and looked at me.

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The Australian Independent Media Network Wednesday, August 16, 2017 - 12:00 Source

By Dr George Venturini Heinz Alfred ‘Henry’ Kissinger obtained a Ph.D. at Harvard University in 1954. His interest was on Castelreagh and Metternich – two empire builders. He devoted his life to sublimate them. In an incendiary, studiedly defamatory book the late Christopher Hitchens described him as “a mediocre and opportunist academic [intent on] becoming…

The post Kissinger gave ‘green light’ for the invasion of East Timor appeared first on The AIM Network.

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MacroBusiness Wednesday, August 16, 2017 - 11:47 Source

By Leith van Onselen The Australian Bureau of Statistics (ABS) has just released its Wage Price Index for the June quarter of 2017, which revealed a continuation of weak wages growth across the economy, with annual wages growing at the lowest rate in the series’ 20 year history: According to the ABS, wages grew by

The post Record low wages growth shatters Budget forecast appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 16, 2017 - 11:46 Source

By Leith van Onselen After extensive behind-the-scenes lobbying campaign by the Franchise Council of Australia, led by former Liberal Small Business Minister Bruce Billson, the Turnbull Government earlier this year delayed a vote on a bill to prevent worker exploitation. Now the Coalition is in negotiations in the Senate, and the bill reportedly hangs in the

The post Franchise visa rorters bill hangs in the balance appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 16, 2017 - 11:41 Source

The gas cartel is in full swing this week. We had the Santos write down yesterday. Today Origin, as it’s white elephant hoses another $3.1bn into the sea: But who cares when your artificial gas shortage throws up electricity profits growth like this: Recalling that gas sets the price of electricity in the National Electricity

The post Gas cartel hoses your money into the sea appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 16, 2017 - 11:20 Source

By Leith van Onselen Earlier this week, Statistics New Zealand released its population estimates for the June quarter of 2016, which recorded an unprecedented population increase of 100,400 (2.1%) in the year to June, driven by a record high 72,300 net migration: Today, Economics forecaster and consultancy Infometrics has produced new research suggesting that the

The post “Alarming” NZ immigration might be even higher than reported appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 16, 2017 - 11:17 Source

From 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, rose from –0.54% in June to –0.10% in July. Despite the improvement in the growth rate it remains negative for a second

The post Leading index remains below trend appeared first on MacroBusiness.

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Renew Economy Wednesday, August 16, 2017 - 11:08 Source

Light-weight new drone features standard solar cells, encapsulated in composite material without losing efficiency.

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MacroBusiness Wednesday, August 16, 2017 - 11:08 Source

Thanks to McGrathmaggeddon we know exactly what to look for in over-inflated and poorly timed exit strategy IPO. Fairfax today announced something a little similar. It’s full year result was ordinary with falling revenue but costs falling eve faster to deliver a rebounding net profit after big losses the year before: Needless to say, shrinking

The post Fairfax readies Domainmaggeddon appeared first on MacroBusiness.

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The Australian Independent Media Network Wednesday, August 16, 2017 - 10:25 Source

The Barnaby Joyce Constitutional Crisis Or Is any-one up for a class action against Barnaby? By Michael Griffin Contrary to what the MSM is leading many to believe, there is no need for a by election if Barnaby Joyce is found to be a disqualified person pursuant to s 44 the Constitution. Sections 360 (v)…

The post The Barnaby Joyce Constitutional Crisis appeared first on The AIM Network.

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The Tally Room Wednesday, August 16, 2017 - 10:00 Source

The 2015 Queensland election was very close, with neither party winning a majority of seats. Labor is estimated to hold 48 seats, while the LNP holds 42 seats. There are two Katter’s Australian Party seat, and one independent seat. 47 seats are needed for a majority.

Recent polling has been very close, with both Labor and LNP winning polls. This suggests that either side has the potential to gain seats, and lose other seats. In addition there are numerous seats where other parties could be a factor: independents, the Greens, One Nation and Katter’s Australian Party.

Labor-LNP marginals

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xkcd.com Wednesday, August 16, 2017 - 10:00 Source

I was thinking of observing stars to verify Einstein's theory of relativity again, but I gotta say, that thing is looking pretty solid at this point.

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MacroBusiness Wednesday, August 16, 2017 - 09:53 Source

By Leith van Onselen The Coalition’s staunch defence of negative gearing is looking sillier by the day, with a new survey of 13,000 people by the think tank The Australian Institute for Progress revealing that most people believe that negative gearing reform holds the key to housing affordability. From The AFR: Of all respondents 24

The post Property lobby has lost the argument on negative gearing appeared first on MacroBusiness.

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The Melbourne Urbanist Wednesday, August 16, 2017 - 09:46 Source

We make a vanishingly small percentage of short trips by public transport and it’s mostly because we prefer the alternatives for this sort of travel. Transit’s strengths lie elsewhere Can public transport define the 20-minute city?

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MacroBusiness Wednesday, August 16, 2017 - 09:38 Source

I am not very interested in Dominoes as a business per se. But I am interested in it as an exemplar of the wage…ahem…massaging business models that have taken hold in Australia’s service sectors. Adele Ferguson is clear today: Since it listed on the ASX in 2005 at $2.20, Domino’s shares surged more than 2500

The post The Dominoes warning appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 16, 2017 - 09:25 Source

By Chris Becker   The USD led the charge overnight as advanced retail sales surprised to the upside, sending bond yields higher on even firmer expectations of another rate hike from the Federal Reserve before the year is out. Stocks were relatively flat in the US as a result, while European bourses advanced on good

The post Macro Morning appeared first on MacroBusiness.

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Your Democracy Wednesday, August 16, 2017 - 08:44 Source

sins

Many priests are presently defending the sanctity and secrecy of confession. And this is fair enough. But there is a difference: many sins are not even catalogued as crimes in the penal code. Take the deadly sin of "gluttony" for example. It even does not rate a mention at a Jenny Craig Clinic.

 

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MacroBusiness Wednesday, August 16, 2017 - 08:24 Source

By Leith van Onselen As expected, several “experts’ have lashed Dick Smith’s call to cut immigration, arguing that it would trash the economy. From The Australian: Economists and senior business figures have disputed Dick Smith’s claims that immigration is fuelling inequality and questioned his Grim Reaper campaign to save the nation from its “addiction to

The post Will Dick Smith’s Fair Go “stuff the whole economy”? appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 16, 2017 - 07:49 Source

DXY poured it on last night: Whether that is a double bottom I know not but the post-2014 support level has held. AUD was weak against USD and EUR: But strong against other EMs: Gold got hosed: Brent held: Base metals were mixed: Big miners weak: EM stocks held on: EM high yield looks to

The post Australian dollar hosed as US growth rebounds appeared first on MacroBusiness.

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En Passant Wednesday, August 16, 2017 - 07:21 Source

The breath of tomorrow is yours

 

I stand with the illusionists

And those who have illusions

Well, those card men and women

Who trick us to waste two dollars

To survive

Not two billion to thrive

 

And the illusioned?

What do we say to them?

That two dollar card games are tricks?

They know this reality

Then how do we explain

That the two billion is the real game?

 

History’s ways wend

Like a river of slow bends

Toxic, full of waste

Upstream, the fresh water floods

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MacroBusiness Wednesday, August 16, 2017 - 06:33 Source

Desperation has seized both the Government and Paul Kelly: Malcolm Turnbull is a prime minister prepared to “do and say anything to try to cling to power” — this is the lethal hyperbole from Labor’s Tony Burke in his assault on the government over the Barnaby Joyce crisis, his purpose being to destroy the Prime

The post Turnbull hangs himself from Baaaaanabygate appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 16, 2017 - 06:02 Source

Oh dear, via Chanticleer: One of the ugly sleeper issues buried in the 580-page statement of claim issued by financial intelligence agency AUSTRAC against the Commonwealth Bank of Australia is the accusation the bank failed to report its suspicions that a customer had links to terrorism financing. Under the law any suspicion of terrorism financing must be

The post ConBank becomes TerrorBank appeared first on MacroBusiness.

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The Australian Independent Media Network Wednesday, August 16, 2017 - 06:00 Source

Wednesday 16 August 2017 When the headlines are screaming words of condemnation over citizenship and marriage equality one is apt to put aside other issues. One such topic is the treatment of asylum seekers and the secrecy that has surrounded their treatment. At this time last year I wrote the following (below). It concerns the…

The post Day to Day Politics: The politics of dirty Dutton. appeared first on The AIM Network.

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Inside Story Wednesday, August 16, 2017 - 01:16 Source

Nowra showground is a ten-minute walk from the centre of town: past Best & Less, Jolly Olly’s Discount Variety Store, the Postman’s Tavern and the Bowling Club, along a wide, tree-lined residential street. The gateway is a towering, seven-metre-high sandstone structure with four entrance archways, topped by parapets and crenellated towers, built just after the second world war. A life-sized bronze statue of a soldier, added after the war, stands in front of the gate. He’s depicted without rifle or helmet; as local historical material explains, “His country’s freedom secured, but forever on alert to safeguard the future.”

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MacroBusiness Wednesday, August 16, 2017 - 00:28 Source

Investing can be a volatile ride, the last few days have reminded us. The last few days have also reminded us why holding international equities is often beneficial for Australian investors – the Australian dollar acts as a shock absorber on returns when volatility hits, which is exactly the opposite effect that international investors get investing

The post International shares are less volatile than Australian appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 16, 2017 - 00:20 Source

By Leith van Onselen Yesterday, Melbourne Planning Minister, Richard Wynne, was all over the media trumpeting a new suburb in Melbourne named Mount Atkinson that would supposedly ease Melbourne’s housing affordability crisis. From Domain [my emphasis]: Construction of a new suburb in Melbourne’s west will begin before the end of the year, with plans to

The post New Melbourne suburb to absorb 2 months population growth appeared first on MacroBusiness.

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