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MacroBusiness Thursday, April 2, 2015 - 09:09 Source

By Leith van Onselen The falling iron ore price is expected to wipe billions from Budget revenues, increasing pressure on Treasurer Joe Hockey. As reported in The Australian today, Deloitte Access Economics ­director, Chris Richardson, has estimated that the iron ore price plunge below $US50 a tonne could wipe $3 billion from forecast revenues by

The post The Budget takes another hammering appeared first on MacroBusiness.

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MacroBusiness Thursday, April 2, 2015 - 08:23 Source

By Leith van Onselen Australian Finance Group (AFG) has released its housing finance data for the month of March, which registered a massive increase in monthly mortgage applications, with both the number and value of applications also at record highs. The number of mortgage applications rocketed by 14.7% in March and were up 21.3% over

The post AFG: Investor demand goes nuclear appeared first on MacroBusiness.

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MacroBusiness Thursday, April 2, 2015 - 05:38 Source

By Leith van Onselen The RBA has released its commodity price index for March, which registered another 1.7% fall in SDR (currency weighted) terms – the key determinant of the terms-of-trade – and a 2.8% fall in Australian dollar terms: Preliminary estimates for March indicate that the index declined by 1.7 per cent (on a

The post Falling commodity prices to crush national income appeared first on MacroBusiness.

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MacroBusiness Thursday, April 2, 2015 - 04:59 Source

It is a revealing fact about market sentiment that Australia’s large LNG players are trading reasonably healthily based upon the forward curve in the oil market. Because oil is seen rebounding in the outer years, that’s an excuse to not write down assets and raise capital. At the same time, however the forward curve in iron

The post RIO’s fat tail appeared first on MacroBusiness.

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MacroBusiness Thursday, April 2, 2015 - 04:58 Source

Here are the iron ore charts for April 1, 2015:         There go the fifties. They were neither a good nor a long time. Benchmark Tianjin iron ore is this morning trading at $49 down 3.9% and Qingdao spot is at $49.53 down 3.5%. But those moves are secondary today to the

The post Daily iron ore price update (40-handle) appeared first on MacroBusiness.

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MacroBusiness Thursday, April 2, 2015 - 04:57 Source

Brent oil took off again last night up 3% to $56.90 as I write night with the oil market enjoyed a double win as Iran talks stalled and US production fell. On the first, the talks are not dead, via the BBC: The UK says key issues still need to be tackled at talks on Iran’s

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

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MacroBusiness Thursday, April 2, 2015 - 01:10 Source

Cross-posted from Investing in Chinese Stocks. CREIS reports prices in its 100 city index fell 0.15% in March, down from the 0.24% decline in February (in January, CREIS reported an increase in prices). Prices increased in 43 cities, declined in 55 and were flat in 2 cities. That’s up from 61 cities with falling prices

The post China house price declines ease a little appeared first on MacroBusiness.

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Thursday, April 2, 2015 - 00:57 Source

Media repetitiveness. Once the media clamp onto a story it takes a week to 10 days before they open their jaws and search for a more tasty morsel. The cycle is that the media write it; people read or watch and expect followup; the media oblige. Next day everyone expects a bit more. And so it cycles on. A plane crashes. A Poem. Say That Again I will not have it said. Enough has already […]

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Thursday, April 2, 2015 - 00:16 Source

Dear Mr. Morrison,You can ‘wobble’ as much as you like.I will always remember your actions as the Minister for Immigration and Border Protection and, the contempt with which you treated international law, the democratic process and the electorate. That memory will inform my vote in 2016.Clarencegirlhttps://youtu.be/oaiuSh_HGLo

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Thursday, April 2, 2015 - 00:15 Source

The only advantage to be a senior citizen in Abbott’s Australia is that those over 65 years of age will have less years than younger folk to live in the midst of any social and economic hardship this scenario below may bring down on communities the length and breadth of  the land.The Kouk 28 March 2015:The Abbott government has no intention of ever repaying government debt. None.

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Digitopoly Wednesday, April 1, 2015 - 22:23 Source

amazon-dash-button-details-2Amazon just announced a new product called the Dash button. Basically, it is a button with a label like Tide or Cottonelle, connected to the internet and available only to Amazon Prime members (you know, the subscription that gives you free shipping).

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Wednesday, April 1, 2015 - 22:07 Source

Orators

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The Tally Room Wednesday, April 1, 2015 - 21:21 Source

Since yesterday’s update, we’ve had little new information in Lismore, but more substantial counting has taken place in the key seats of East Hill, Gosford and The Entrance. Labor now holds a slim lead in The Entrance, and the Liberal Party has taken a 20-vote lead in Gosford. It also appears that the Liberal Party’s lead in East Hills is now too big to be overcome.

Lismore

NAT
NAT %
GRN
GRN %
ALP
ALP %

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The Australian Independent Media Network Wednesday, April 1, 2015 - 18:48 Source

When the first Benjamin Black crime story appeared – Christine Falls (2006) which I reviewed here – there was no mention anywhere that this name was a pseudonym for John Banville, the highly acclaimed Irish novelist, winner of the 2005 Man Booker Prize for The Sea – reviewed here. Banville had told the literary world that he was going to write a crime story, but there was nothing to alert an unsuspecting public that this was it.

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Wednesday, April 1, 2015 - 17:23 Source

Joe Hockey's 'Re:think' paper is the same old reheated neoliberalism we've come to expect form the Abbott government, writes Ben Eltham.

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The Australian Independent Media Network Wednesday, April 1, 2015 - 17:11 Source

Are the vulnerable in our society being cared for by those in government? The answer is a firm ‘no’ writes Jennifer Wilson.

If there’s one single characteristic that defines the Abbott government, and increasingly the ALP opposition, it’s their utter lack of care for people who are in some way vulnerable.

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MacroBusiness Wednesday, April 1, 2015 - 16:22 Source

Chris Weston, Chief Market Strategist at IG Markets It’s been a fairly crazy session today in Asia and there has been a lot of head scratching as to the reason behind the sharp moves, which were predominantly centred in US futures. It’s not every day you see NASDAQ and S&P futures dropping 1.3% in around

The post ASX at the close appeared first on MacroBusiness.

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The Australian Independent Media Network Wednesday, April 1, 2015 - 16:21 Source

THE LIST

Tony Abbott has been in power since 7 September 2013. From that moment, he and his government have broken promises and hurt Australians. This post will be regularly updated to keep track of the Abbott Government’s broken promises and everything his Government does to hurt Australians. Each separate item will have a link to a source. Broken promises appear in bold and in a separate fully referenced list at the end.

Sally McManus is the Secretary of the Australian Services Union in NSW and the ACT.

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Wednesday, April 1, 2015 - 16:12 Source

Anne-marie Boxall writes: If your workplace is anything like mine, this week’s private health insurance premium increases might prompt conversations that go something like this: Can you believe our private health insurance costs $421 a month – and...

Read more on the blog...

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The Australian Independent Media Network Wednesday, April 1, 2015 - 16:05 Source

When even the experts disagree, it’s not surprising that the electorate are divided on privatisation.  The only say that Australians get in the sale of the assets we jointly own is at election time but I sometimes wonder if voters fully consider the ramifications of privatisation and asset recycling.

Joe Hockey and Tony Abbott are both determined to use their time on the Treasury benches selling every Commonwealth asset they can and, by making funding dependent on it, they are forcing state premiers to do the same.

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Antony Green's Election Blog Wednesday, April 1, 2015 - 15:52 Source

Draft electoral boundaries have been released for the 2016 ACT election, implementing the increase in the size of the Assembly from 17 to 25 members.

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Cheeseburger Gothic Wednesday, April 1, 2015 - 15:50 Source

I coulda killed a guy like Jimmy. The endearing/infuriating doofus of Kate Miller-Heidke"s "Jimmy" – the sixth track on last years O Vertigo – put me immediately in mind of a guy I knew way back when. Stefan. A stringy haired, barefoot monomaniac whose enormous ego was built of Violet Crumble and self delusion. I road tripped all the way from Brisneyland to Sydney with him and can recall waking in a cold car by the side of the road somewhere in New South Wales. We had no petrol. He had no money. And I was of a mind to end his life and bury the body in a shallow grave.

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Cheeseburger Gothic Wednesday, April 1, 2015 - 15:08 Source

Again. And again.

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MacroBusiness Wednesday, April 1, 2015 - 14:55 Source

From the SMH: The Magnetite Network, which was formed in 2009 to represent the interests of Atlas Iron, BC Iron, Citic Pacific Mining, Karara Mining and Asia Iron Australia, has suspended activities as its member companies cut costs amid weak iron ore prices. “Just like a mine site that goes on to care and maintenance

The post Iron ore lobby dies with juniors appeared first on MacroBusiness.

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you said it... Wednesday, April 1, 2015 - 14:50 Source

mindmadeup:

Ayaan Hirsi Ali, poster girl for the neo-cons and the likes of Geert Wilder, has never impressed us as an authentic critic.

And ramio tells us why.

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Renew Economy Wednesday, April 1, 2015 - 14:35 Source

In a major new report, Citigroup says the slump in oil and gas prices may provide some road humps for wind and solar, but renewables will win out because of economics, energy security and environment issues. And it's the cheapest way to substitute coal-fired power.

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The Australian Independent Media Network Wednesday, April 1, 2015 - 14:34 Source

While the nation is distracted by the allegations against Billy Gordon, former Labor MP for Cook, QLD – let’s have a conversation about Tony Abbott’s own very long history of violence against women and children, and anyone who he disagrees with. Perhaps that conversation could start with how a man with his very long history of violence against women and children could become not only Prime Minister, but the self-appointed Minister For Women.

The following are just a small selection of those incidents that are known publicly, and we have no idea of what has gone unreported by people too scared to speak out.

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MacroBusiness Wednesday, April 1, 2015 - 14:33 Source

By Leith van Onselen The Association of Superannuation Funds Australia (ASFA) has today released new research showing that wealthy retirees are collecting $10 billion worth of income tax free, courtesy of the Howard Government’s short-sighted decision in 2006 to scrap taxes on the retirement income from super. According to this report, there are over 200,000 people

The post Wealthy collecting $10b super tax free appeared first on MacroBusiness.

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Wednesday, April 1, 2015 - 14:26 Source

The world's wealthiest nation - and one of the biggest polluters - has mapped out how it will reduce its carbon emissions. Thom Mitchell reports.

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Renew Economy Wednesday, April 1, 2015 - 14:25 Source

Alinta says even under most optimistic scenarios, solar thermal with storage still too expensive for Port Augusta.

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