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MacroBusiness Wednesday, October 18, 2017 - 11:05 Source

From BHP’s first QTR update: Iron ore – Total iron ore production for the September 2017 quarter decreased by three per cent to 56 Mt, or 64 Mt on a 100 per cent basis. Guidance for the 2018 financial year remains unchanged at between 239 and 243 Mt, or between 275 and 280 Mt on

The post BHP moves past iron ore bottlenecks appeared first on MacroBusiness.

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Renew Economy Wednesday, October 18, 2017 - 11:02 Source

Assuming it is implemented, the Turnbull government's National Energy Guarantee will in effect establish a de facto price on carbon emissions from the power sector.

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The Australian Independent Media Network Wednesday, October 18, 2017 - 11:00 Source

Denis Bright invites discussion on the prospects for a UN sponsored nuclear weapons free world commencing with conflict resolution on the Korean Peninsula. Is this scenario the logical outcome of the federal LNP’s own rhetoric on rules based diplomacy? Could a bipartisan arrangement with Bill Shorten advance this peace agenda for our region? Since the…

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xkcd.com Wednesday, October 18, 2017 - 11:00 Source

The 1919 Great Boston Molasses Flood remained the deadliest confectionery containment accident until the Canadian Space Agency's 2031 orbital maple syrup delivery disaster.

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MacroBusiness Wednesday, October 18, 2017 - 10:47 Source

Via 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, slipped from –0.16% in August –0.21% in September. The growth rate remains negative pointing to below trend momentum and a sharp turnaround

The post Australian leading index slip slides away… appeared first on MacroBusiness.

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MacroBusiness Wednesday, October 18, 2017 - 10:42 Source

Via Bloomie: Canada’s banking regulator released final rules that will make it tougher for borrowers to take on uninsured mortgages, adding to a growing list of measures to rein in the nation’s housing markets. The Office of the Superintendent of Financial Institutions announced measures targeting borrowers in the uninsured segment of the mortgage market that has been responsible for

The post Canadian housing entering “severe correction” appeared first on MacroBusiness.

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MacroBusiness Wednesday, October 18, 2017 - 10:16 Source

Work for Goldman Sachs. Become PM. Do nothing about house prices. Ramp immigration. Sell your mansion to a Chinese investor. Then join the bank: ANZ has appointed former New Zealand Prime Minister John Key as chairman of ANZ New Zealand. He will succeed John Judge as chairman as he retires from the board of directors in January,

The post Former NZ PM becomes banker appeared first on MacroBusiness.

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MacroBusiness Wednesday, October 18, 2017 - 10:11 Source

Quite rightly: “What’s very clear is that the government is scrambling. We have policy on the run. We have an energy policy being put together with strings and bandaids,” shadow treasurer Chris Bowen said Tuesday morning. “What is very clear and has been publicly confirmed by the Energy Security Board, is that this policy that

The post Labor to take it time on NEG appeared first on MacroBusiness.

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MacroBusiness Wednesday, October 18, 2017 - 09:55 Source

By Leith van Onselen When the National Broadband Network (NBN) arrived in my area late last year residents were greeted with a barrage of junk mail advertisements from all manner of internet service providers offering competitively priced internet at fast speeds. At the time, I was under contract with Telstra, so I did not consider

The post NBN turns into a costly horror story appeared first on MacroBusiness.

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MacroBusiness Wednesday, October 18, 2017 - 09:16 Source

By Leith van Onselen We’ve got the Real Estate Treasurer swanning around New York telling anyone who will listen that there is no Australian housing bubble. Now, Secretary of the Australian Treasury, John Fraser, has given a speech last night at Citi’s annual investment conference, which is worth dissecting for its spin value relating to Australia’s

The post Treasury launches panicked bubble-defence campaign appeared first on MacroBusiness.

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The Melbourne Urbanist Wednesday, October 18, 2017 - 09:10 Source

Driving will inevitably continue to have a huge impact on the liveability of Australia’s growing cities – policy-makers must stop ignoring the car and start “taming” it Does driving matter for a city’s liveability? Advertisements

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MacroBusiness Wednesday, October 18, 2017 - 08:51 Source

Welcome to a little credit crunching, via Banking Day today: Suncorp is tightening its lending standards for apartment buyers in the Brisbane property market following recent falls in real estate prices across the city. In a memo sent to Queensland mortgage brokers on Tuesday, the bank said it would no longer accept investment applications for apartments

The post Banks pull Brisvegas loans as apartments tumble appeared first on MacroBusiness.

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MacroBusiness Wednesday, October 18, 2017 - 08:40 Source

By Leith van Onselen RBA Assistant Governor, Luci Ellis, is the latest to challenge the Business Council of Australia’s (BCA) call to cut Australia’s company tax rate in a bid to boost investment, jobs, growth and wages. From The Australian: Ms Ellis said the corporate tax rate in Australia was “irrelevant” for domestic investors because

The post RBA rubbishes BCA’s call to lower company tax rate appeared first on MacroBusiness.

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Renew Economy Wednesday, October 18, 2017 - 08:35 Source

The decision to walk away from a Clean Energy Target makes no sense. But small communities will forge ahead with the transition to renewable energy.

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Your Democracy Wednesday, October 18, 2017 - 07:00 Source

malcolmius

We are living in the age of deceit, fast becoming the era of imbecility. Our Trumble is getting the bug of invention and in a rare moment of lucidity he declared that E = MC2. Wow. Here he explains that E (Economy) equals M (Muck) multiplied by C (Coal) powered to the square. And we get screwed...

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MacroBusiness Wednesday, October 18, 2017 - 06:53 Source

DXY was strong last night and it’s head and shoulders bottom is near perfect if it breaks out: AUD was weak against USD, firm against EUR: It was strong against EMs: Gold was pummeled: Brent is still strong: The base metals lunacy flamed out: As did big miners: And EM stocks: High yield is stable:

The post Is King Dollar back? appeared first on MacroBusiness.

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The Australian Independent Media Network Wednesday, October 18, 2017 - 06:06 Source

Wednesday 18 October 2017 When I have written on this subject in the past I have always approached it by saying that whilst I have a layperson’s appreciation of science, an in-depth, educated, comprehension eludes me. That is why in 2014 I wrote “Climate Change: A Lay Persons Dilemma” and “You Probably Won’t Read This,…

The post Day to Day Politics: What Hypocrisy! It’s really staggering. appeared first on The AIM Network.

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MacroBusiness Wednesday, October 18, 2017 - 05:00 Source

Via the AFR: Labor states – or a future federal Labor government – that pursue more ambitious renewable energy targets than those set under the Turnbull government’s proposed new Reliability and Emissions Guarantee will face more costly reliability standards, which could increase the cost of electricity in their markets. Energy Security Board chairman Kerry Schott

The post Labor should back Tunbull’s energy plan appeared first on MacroBusiness.

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MacroBusiness Wednesday, October 18, 2017 - 04:49 Source

Via CBA:   LNG is increasingly becoming an important commodity for Australia. We estimate oil and gas production — as measured by value added — will approach iron ore production in the next few years. The upshot is the LNG price is a growing influence on Australia’s terms of trade and AUD. The ongoing recovery

The post LNG delivers one giant final insult to Australia appeared first on MacroBusiness.

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MacroBusiness Wednesday, October 18, 2017 - 00:25 Source

By Leith van Onselen Let’s recall Aberdeen Asset Management’s argument yesterday that Australia’s housing market is a bubble: “We don’t believe that the Australian housing market is in a bubble”… “The usual features of bubble-type behaviour such as broad synchronisation of price gains across a country, lax bank lending policies, reduced scrutiny of end-buyers, and indiscriminate investor buying, mostly appear missing.

The post Why Aberdeen is wrong and Australian housing is a ‘bubble’ appeared first on MacroBusiness.

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MacroBusiness Wednesday, October 18, 2017 - 00:21 Source

Via Domainfax: National Australia Bank’s Alan Oster says it’s not exactly clear why retail sales have been so weak lately, but there are plenty of things likely to be limiting spending growth. Wages growth is still near a record low, utility bills are soaring, and there’s been increasing speculation that interest rates may rise. We also

The post The mystery of the murdered consumer! appeared first on MacroBusiness.

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MacroBusiness Wednesday, October 18, 2017 - 00:20 Source

By Leith van Onselen The Australian last week gave a good summary of the population pressures afflicting Melbourne as the city experiences an unprecedented population boom: At the Melbourne train station of Williams Landing in the city’s southwest, the flower beds lining the carpark are repeatedly squashed into the dirt. It’s not that people don’t

The post Decentralisation delusion as Melbourne surges towards 9 million appeared first on MacroBusiness.

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North Coast Voices Wednesday, October 18, 2017 - 00:16 Source

The Guardian, 12 October 2017 Australia is among countries with the highest growth in income inequality in the world over the past 30 years, according to the International Monetary Fund.Vitor Gaspar, the IMF’s director of fiscal affairs, has told an audience at the launch of the IMF’s latest Fiscal Monitor that Australia’s income inequality growth has been similar to the US, South Africa, India, China, Spain and the UK since the 1980s.Last month the treasurer, 

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MacroBusiness Wednesday, October 18, 2017 - 00:15 Source

SQM Research has released its rental vacancy series for September, which revealed no movement in the national vacancy rate over the month but a 0.2% decline over the year: Over the year, decreases in vacancies were recorded in Melbourne (-0.1%), Perth (-0.5%), Adelaide (-0.4%), Hobart (-0.2%), Darwin (-0.4%), and Canberra (-0.1%), whereas increases were recorded

The post Rental market to tighten as population ponzi overwhelms construction appeared first on MacroBusiness.

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North Coast Voices Wednesday, October 18, 2017 - 00:15 Source

Excerpts from Australian Human Rights Commission (AHRC) submission to the Senate Standing Committees on Community Affairs Senate Inquiry into Social Services Legislation Amendment (Cashless Debit Card) Bill 2017:Human rights concerns As a form of income management, the Social Services Legislation Amendment (Cashless Debit Card) Bill 2017 raises a number of human rights concerns, specifically around the right to social security, the right to a private life and the right to equality and non-discrimination.

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MacroBusiness Wednesday, October 18, 2017 - 00:06 Source

By Leith van Onselen The most recent REINZ housing statistics revealed a sharp decline in Auckland transaction volumes, which were down circa 30% in the year to August – the lowest level of August sales in six years: With Auckland’s sales tracking at their lowest level in at least five years in 12-month moving average

The post NZ real estate agents bleeding as sales volumes collapse appeared first on MacroBusiness.

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MacroBusiness Wednesday, October 18, 2017 - 00:05 Source

Iron ore price charts for October 17, 2017: Tianjin benchmark  fell 70 cents to $61.70. Paper took off overnight. Coking futures and physical and are stuck around $180. Steel is stalled. CISA output for late April was up 1.1% to 1.87mt with no sign of any shutdowns yet. Bloomie has some more on the outlook: “The

The post Daily iron ore price update ($40s) appeared first on MacroBusiness.

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MacroBusiness Wednesday, October 18, 2017 - 00:01 Source

Global Macro / Markets / Investing: Fund giant warns over stock market highs – BBC Echoes of the Black Monday Crash of ’87 – Bloomberg The 4 Ds Of Robotization: Dull, Dirty, Dangerous And Dear – Forbes Dealing with a globalised banking sector – EU How Google’s Quantum Computer Could Change the World – WSJ

The post Links 18 October 2017 appeared first on MacroBusiness.

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Political Owl Tuesday, October 17, 2017 - 20:57 Source

Yeah yeah yeah yeahHe makes me do things I don't want to doHe makes me say things I don't want to say& even though I want to break awayI can't (stop saying I adore himI can't stop doing things for him)

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The Australian Independent Media Network Tuesday, October 17, 2017 - 20:49 Source

By Warwick O’Neill Just in case you’ve been living in a shoe box today, let me take this opportunity to advise you that Lisa Wilkinson quit Chanel 9’s Morning Show. Now you know. Whoopie … A lot of the talk has centred around gender pay gaps and all that, and fair enough. Two people sitting…

The post Our priorities need a serious rethink appeared first on The AIM Network.

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