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MacroBusiness Monday, April 13, 2015 - 09:46 Source

“Sell ‘em dirt” becomes “sell ‘em services”, from Joe Hockey this morning via the ABC: “There’s no doubt it has an impact on our budget because iron ore has been our biggest export,” Mr Hockey told ABC News Breakfast this morning. “But we are not going to chase the fall in revenue associated with falling

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The Tally Room Monday, April 13, 2015 - 09:35 Source

Last week, while we were all distracted by the NSW election, the Tasmanian Electoral Commission (TEC) made a submission to a parliamentary inquiry warning that cuts to its funding may affect its ability to administer Tasmanian elections.

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The Australian Independent Media Network Monday, April 13, 2015 - 09:21 Source

Guest blogger Ben Clark examines the actions of a government that claims to support the right to free speech while attempting to muzzle the press.

Last month, Joe Hockey took to the witness stand defending his reputation from allegations made by Fairfax Media.

In 2011, Aboriginal activist Pat Eatock also stood in court defending her reputation from allegations made by News Corp columnist Andrew Bolt.

One had parliamentary privilege to defend themselves, the other didn’t. One had the parliamentary press gallery itching on their every word, the other didn’t.

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MacroBusiness Monday, April 13, 2015 - 09:06 Source

From The Australian: Citi has slashed its iron ore price forecasts to reflect large-scale supply growth , weak demand and deleveraging. 2015 average forecast falls to $US45 vs $US58 a tonne. 2016 average forecast falls to $US40 vs $US62 a tonne. 2017 average forecast falls to $US39 vs $US73 a tonne. 2016 is starting to

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Popular Science Monday, April 13, 2015 - 09:01 Source

About 252 million years ago, massive volcanic eruptions sent a vast amount of lava flowing out onto the earth, and spewed huge amounts of carbon dioxide into the air, chemically altering the oceans in a series of events that would change life on earth forever.

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Popular Science Monday, April 13, 2015 - 09:01 Source

Even if you don't have allergies, you probably know some of their telltale signs. On the mild end, there's sneezing, red eyes, vomiting, upset stomach, itchy rashes, and hives. But reactions can be more severe, closing the throat and swelling the tongue, which can result in anaphylactic shock and even death.

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Popular Science Monday, April 13, 2015 - 09:01 Source

Scientists have pinpointed the origins of the meteorite, Annama, that streaked across the Russian sky last April in a beautiful fireball. The path the meteorite took to earth strongly resembles that of a large asteroid, 2014 UR116, which is over 1,300 feet in diameter.

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Popular Science Monday, April 13, 2015 - 09:01 Source

Obesity has been linked to a huge number of health conditions, such as diabetes, various types of cancer, and diseases of the heart and liver. But according to a new study, people who are obese in middle age are significantly less likely to get dementia, a loosely defined condition that includes memory loss and decreased cognitive function in older age.

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Popular Science Monday, April 13, 2015 - 09:00 Source

The membrane is a really important part of a cell—it keeps the organelles and useful chemicals in, and other things out. But the membrane also needs to be selectively permeable, letting in the right molecules (like DNA or water) when they approach the cell. Though scientists have been able to make synthetic membranes, used in manufacturing pharmaceuticals and to treat water, they haven't been able to make them permeable as in the natural world.

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Popular Science Monday, April 13, 2015 - 09:00 Source

In Alex Garland's screenplay for 28 Days Later, he envisioned a future in which a manmade blood-borne virus turned most of the human population into crazed zombies. And with his screenplay for Sunshine, he detailed the plight of a small astronaut crew, traveling to our dying sun with the aim of nuking it back to life.

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Popular Science Monday, April 13, 2015 - 09:00 Source

If you could find out your baby's future health problems right after he or she was born, would you want to know? Some new parents will get to make that decision soon. This month, doctors in Boston will begin the BabySeq project, in which they will sequence the genomes of newborns to look for signs of diseases that begin in childhood.

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Popular Science Monday, April 13, 2015 - 09:00 Source

You probably get a lot of emails. Heck, maybe someone even sent you this article in an email. And you have likely developed a systematic approach to dealing with this digital avalanche that never seems to end. Even though email has been around for about two decades, researchers didn't have a good idea of how people were using it. For example, what is the average number of emails a person receives? Do people get overwhelmed by too much email? How long do threads go on?

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Popular Science Monday, April 13, 2015 - 09:00 Source

War takes a toll. And in Washington, former warships may take a toll as well--from drivers and motorists. As part of the state highway budget passed yesterday, Washington is funding a study on the feasibility of turning old Vietnam-era warships into a unique, destination toll bridge that spans the Sinclair Inlet. In the words of Washington State Representative Jesse Young, the bridge will serve as "a testimony and a legacy memorial to our greatest generation."

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Monday, April 13, 2015 - 08:50 Source

Now, News Corporation can attack every minority group in the country, without lifting a finger... well maybe one finger.

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Monday, April 13, 2015 - 08:50 Source

Now, News Corporation can attack every minority group in the country, without lifting a finger... well maybe one finger.

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MacroBusiness Monday, April 13, 2015 - 08:41 Source

By Chris Becker Friday brought about new highs on the FTSE, with the Nikkei pushing through 20,000 points, the Chinese stock bubble inflated higher with the rising tide lifting all boats even in the US as its earnings season rolls on amid fears the Fed may be raising rates sooner rather than later. Recapping the

The post Macro Morning (Europe roars) appeared first on MacroBusiness.

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MacroBusiness Monday, April 13, 2015 - 07:39 Source

By Leith van Onselen There’s more evidence today of Australia’s woeful housing affordability forcing first home buyers (FHBs) to resort to unconventional means to secure a home, with Fairfax reporting a big rise in the number of FHBs using financial assistance from their parents to obtain a mortgage: National Australia Bank says the proportion of

The post The bank of mum and dad booms! appeared first on MacroBusiness.

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MacroBusiness Monday, April 13, 2015 - 07:30 Source

Click to view Core Logic-RP Data’s latest weekly housing market update, which provides a useful snapshot of the housing market as at 12 April 2015. This week’s report includes: Latest weekly dwelling value results; Auction results & clearance rates; Latest median house & unit prices; Average time on market & vendor discounts; Mortgage market activity;

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MacroBusiness Monday, April 13, 2015 - 07:15 Source

The national auction clearance rate remains locked in orbit, driven again by super strong demand in Sydney and Melbourne. The preliminary national clearance rate was 79.0%, up marginally from the weekend before Easter (77.4%), with clearance rates running at their strongest level in six years in trend terms, from RP Data: Sydney’s clearance rate rose

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Monday, April 13, 2015 - 04:59 Source

It is fairly certain Ed Miliband will head the next government in the UK. He will win about 283 seats, and the Scottish Nationals about 49, Plaid Cymru 1 and the Greens 2. This will give him 332 or 336 votes, more than the 325 he needs to survive a vote of No Confidence on the floor of the House.

He may rule alone, or seek a coalition with the Scots or the Liberal Democrats, who will win about 22 seats. He will be the first Jewish Prime Minister of Britain since Disraeli.

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MacroBusiness Monday, April 13, 2015 - 04:38 Source

From the AFR, Treasurer Hockey has begun the Budget leaks starting with iron ore: “There seems to be no floor. We are contemplating as low as $35 a tonne”…Mr Hockey said the revenue loss from iron ore would be exacerbated by write-downs in income tax revenue, a product of flat wages growth. The iron ore price

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MacroBusiness Monday, April 13, 2015 - 00:30 Source

Gina Rinehart declared on the weekend that Australia is the next Greece: “Are our country’s business leaders just going to call for more handouts for their failing businesses struggling to be sustainable with the commodities crash?’’ she said. “But where can such taxpayer funds come from given our debt and that we’re having to borrow

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MacroBusiness Monday, April 13, 2015 - 00:29 Source

There’s a big poll divergence today for the Abbott Government today with Newspoll showing firming support: The latest Newspoll, taken exclusively for The Australian at the weekend, shows the Coalition has opened a five-point margin over Labor on primary vote to be ahead by 41 per cent to 36 per cent — its biggest lead

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MacroBusiness Monday, April 13, 2015 - 00:25 Source

By Leith van Onselen Roy Morgan Research (RMR) has released its unemployment estimate for the month of March, which registered a 0.2% fall in the unemployment rate to 10.8% from 11.0% in February. However, unemployment was down 0.8% over the year (see next chart). According to Gary Morgan: Roy Morgan’s employment estimates contain some positive

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MacroBusiness Monday, April 13, 2015 - 00:14 Source

Here are the iron ore price charts for Friday April 10: Spot corrected as expected but paper is looking a little firmer with the 12 month holding up despite new lows for Dalian. The latter is up 4 points from Friday this morning. The rebar reversion marches on.  Texture from London Scrap: Despite a sharp

The post Daily iron ore price update (Montgomery says $10) appeared first on MacroBusiness.

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MacroBusiness Monday, April 13, 2015 - 00:02 Source

Cross-posted from Investing in Chinese Stocks. Social mood is rising into extreme territory. Investors arbitraging between overpriced Mainland A-shares and fairly priced Hong Kong H-shares are one source of buying, but the main fuel for the latest rally is investors’ belief that they cannot lose——because the Chinese government itself will invest more money into equities.

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MacroBusiness Monday, April 13, 2015 - 00:01 Source

Global Macro / Markets / Investing: You’ve Never Heard of the Bull Market’s Best Stock Pickers – Bloomberg Stop using indicators to keep you out of the market – Dragonfly Capital A historical look at deflation – VOX Druckenmiller Recounting Soros Experiences Blasts Fed Policies – Bloomberg What really causes economic downturns? – weforum.org This

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The Australian Independent Media Network Sunday, April 12, 2015 - 19:28 Source

Now, I’ve just had a look at how the Direct Action Carbon Scheme works.

Apparently, companies bid and the one that promises to reduce emissions by the largest amount can access money for doing so at an agreed figure like $20 a tonne.

Luckily, I have a business. Ok, it didn’t actually earn any money last financial year, but that won’t stop me bidding. I think that I’m going to offer to reduce a billion tonnes of emissions.

Well, ok, I haven’t looked that closely and the fact that my business didn’t actually produce any carbon emissions last year may disqualify me from bidding.

I certainly hope not

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The Australian Independent Media Network Sunday, April 12, 2015 - 18:46 Source

With Julie Bishop flying off to try and broker a deal with Iran to take back asylum seekers who have been refused refugee status, it is worth looking at the human rights record and conditions in Iran.

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The Political Sword Sunday, April 12, 2015 - 18:30 Source

At the start of the year in my piece ‘Proud to be a bigot’ I mentioned that, before Abbott, Australian governments tended to look after those who were ‘down on their luck’. It was a phrase with which I grew up. People who were unemployed were not ‘dole bludgers’ then, nor even just bludgers (although there may have been a few, bludgers were usually identified when they were in work): they were ‘down on their luck’. I began to wonder why that approach has disappeared. A key aspect of the phrase ‘down on their luck’ is that it is an egalitarian phrase.

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