Blogotariat

Oz Blog News Commentary
MacroBusiness Wednesday, May 27, 2015 - 10:46 Source

Credit Suisse asks the right question today: ■ Clearly the ore leaving the ports is heading to the steel mills. But the last Mysteel survey of 14 May did not show bulging stocks at mills (Figure 4). Instead, the mills continued to display the lean inventories they have held so far this year. Ore consumption has picked up

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MacroBusiness Wednesday, May 27, 2015 - 10:32 Source

We’re heading into the first quarter GDP release next week and Goldies is not up beat: Bottom line: Ahead of the official update next week, preliminary trade data point to a $1.0bn widening in Australia’s international trade deficit in 1Q2015 and an ~10bp drag to growth from net exports. On balance, this data are slightly weaker than

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WixxyLeaks Wednesday, May 27, 2015 - 10:27 Source

ia-membership-banner-bs

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Croakey Wednesday, May 27, 2015 - 10:26 Source

This week the Four Corners expose on bullying in the medical profession has been all over mainstream (see here and here) and social media. An article by Kimberley Ivory and Helen Scott in The Conversation looked at the scope and devastating impact...

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MacroBusiness Wednesday, May 27, 2015 - 10:26 Source

By Leith van Onselen The budding youth unemployment crisis has been well documented on this site. Nevertheless, to summarise, total employment for 15-24 year-olds has fallen by 5.2% since the Global Financial Crisis (GFC), with full-time employment down by a whopping 17.9%. Youth unemployment has also surged from 8.8% in September 2008 to 13.6% as

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The Melbourne Urbanist Wednesday, May 27, 2015 - 10:18 Source

Should cars be banned from Sydney’s CBD?

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MacroBusiness Wednesday, May 27, 2015 - 10:16 Source

From The Australian: Australian companies with US dollar earnings will be prime property over the next 12 to 18 months, according Shawn Hickman of Market Matters. “I think the $A will eventually fall well under 70c, significantly aiding companies with $US earnings,” Mr Hickman said. “The pursuit of companies with $US earnings is a mature

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xkcd.com Wednesday, May 27, 2015 - 10:00 Source

WHY DON'T YOU COME HANG OUT INSIDE MY HOUSE. WE CAN COOK BREAD AND CHAT ABOUT OUR INTERNAL SKELETONS.

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MacroBusiness Wednesday, May 27, 2015 - 09:24 Source

By Leith van Onselen Dad’s Army’s Robert Gottliebsen (“Gotti”) is back today deriding Australia’s “young journalists” and defending the rights of older superannuants to avoid paying taxes: When is a retiree rich? The catch cry among the young journalists in many media organisations is that the real problem for the nation is that we have

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MacroBusiness Wednesday, May 27, 2015 - 09:19 Source

By Chris Becker This is what happens when you have one market taking a long weekend with US traders coming back and hitting the sell button and buying USD en masse! A very solid US durable goods order plus surprising consumer confidence prints gave further impetus to Fed rate hikes, so its a case of good

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MacroBusiness Wednesday, May 27, 2015 - 09:17 Source

From Goldman via Zero Hedge: China’s policy response to the global financial crisis created one of the largest debt buildups as a share of GDP seen anywhere in the world over the past 50 years. Cognizant of the risks of such a large credit buildup, since early 2013 (when the current Chinese leadership took over),

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Table Talk: Bob Ellis on Film and Theatre Wednesday, May 27, 2015 - 08:30 Source

It will be remarked by historians how incompetent Abbott was at tyranny.

He claimed he had ‘stopped the boats’, and when thousands of stateless Rohingyas were found floating off Malaysia, he continued to claim he had; refused, moreover, to obey the UN and the Pope and take some of them in.

He allowed the rapists of children to continue their dark work on Nauru, though some of the children attempted suicide, claiming it was ‘Nauru’s business’ what the police did about it (nothing, so far), and let twelve of Reza Barati’s murderers, one of them a white Australian, go free.

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MacroBusiness Wednesday, May 27, 2015 - 07:40 Source

By Leith van Onselen So, it looks like Joe Hockey’s pledge on Monday night’s Q&A Program to dump the GST on women’s sanitary products, like tampons, has the support of the states, which means there’s a good chance that it will be implemented. Viewed in isolation, the idea makes sense. Given that condoms have no

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MacroBusiness Wednesday, May 27, 2015 - 07:25 Source

MB’s five drivers model of the Australian model nicely projected the recent breakout in the Aussie. As the battler is now sinking again let’s update the model. The five drivers are: interest rate differentials; global and Australian growth (more recently this has become more nuanced for the Aussie to be more about Chinese growth); investor

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The Australian Independent Media Network Wednesday, May 27, 2015 - 06:55 Source

Marriage equality forms part of a broader discussion about equality generally. Equality of opportunity in the work place. Equality in access to education. Equality for women all form part of it.

When Ireland voted so overwhelmingly in support of marriage equality it triggered in this country an avalanche of public opinion that politicians could not ignore.

IT’S TIME FOR THE PARLIAMENT OF AUSTRALIA TO REFLECT THE PUBLICS WILL

Marriage Equality and Why I Support It

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MacroBusiness Wednesday, May 27, 2015 - 06:28 Source

By Leith van Onselen The mining bust in the Pilbara is fast turning into an epic housing bust, according to the Real Estate Institute of Western Australia: Median house prices in the Pilbara town of Karratha have plunged almost 34 per cent. …the average price in Karratha has fallen to $450,000, compared to $650,000 in

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MacroBusiness Wednesday, May 27, 2015 - 04:42 Source

Property development can be a dirty business, particularly when it comes to land-banking, which is the speciality of Australia’s largest developers. Land-banking involves the speculative buying of large parcels of land that are currently unsuitable for development in the hope of future development potential. But hope alone is not a business strategy. How can land

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MacroBusiness Wednesday, May 27, 2015 - 03:55 Source

By Leith van Onselen Victoria’s Department of Transport, Planning and Local Infrastructure (DTPLI) has released April’s data on the number of housing transfers and mortgage lodgements/discharges, which revealed that Victoria’s (read Melbourne’s) housing market has continued to strengthen after originally appearing to have peaked in November. According to the DTPLI data, the volume of housing

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you said it... Wednesday, May 27, 2015 - 01:36 Source

TABSMHVictoria

May 26, 2015 – 4:35PM

Tammy Mills

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MacroBusiness Wednesday, May 27, 2015 - 00:57 Source

A little PR faux pas with the AFR running a headline story on Fortescue’s own Singapore sling: Fortescue Metals Group established a company Singapore that could buy and sell its iron ore more than a year before it started attacking its rivals for doing the same thing. The company, called Fortescue International Marketing, is incorporated and domiciled in Singapore. Still dormant, it

The post Why a Chinese Fortescue is against the national interest appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 27, 2015 - 00:10 Source

The Brent oil price was hammered 4% last night to $63.93 as I write. The causes were threefold. The US dollar surged. Worries about a return of shale production are increasing and Iraq pledged a huge surge in production, from Bloomberg: The nation plans to boost crude exports by about 26 percent to a record

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

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MacroBusiness Wednesday, May 27, 2015 - 00:03 Source

Here are the iron ore charts for April 27, 2015:    Spot still strong with Tianjin benchmark up $1 to $62.10. Paper less so with Singapore dancing on the spot and Dalian flat overnight at 435 after yesterday’s bounce. Rebar average is still soft. I don’t think we’re going to break higher. $60 looks a

The post Daily iron ore price update (pricing power) appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 27, 2015 - 00:02 Source

Cross-posted from Investing in Chinese Stocks. Reuters: China’s top banking regulator warns of rising bad loans, credit risk China’s top banking regulator warned of rising credit risk from real estate, local government debt and unconventional forms of finance, sources with direct knowledge told Reuters, highlighting Beijing’s struggles to prevent risky debt from engulfing a stuttering

The post Chinese bad debt rockets appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 27, 2015 - 00:01 Source

Asia China’s bid to lock in cheap iron ore – CNBC China boosts oil trading visibility, market power – Reuters, Clyde Russell Japan lesson on China debt: extend, don’t pretend – Reuters Chinese Premier Li Keqiang returns from South America with a caseful of deals – SCMP Oil rich East Timor weighs the risks of

The post Links May 27, 2015 appeared first on MacroBusiness.

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Harrangue Man Tuesday, May 26, 2015 - 23:01 Source

I'm still on gardening leave. The wheels turn slowly to get me back. Don't get me wrong, I am enjoying the time off work, but I'm conscious my awesome boss is without back-up and it means turning work off in my absence. I'm spending my time playing Baldur's Gate 2. I just accidentally sold my glasses of identification to someone and now I have to backtrack to find who I sold it to. Sigh.UPDATE: Turns out the admin processes won't allow a speedier turn and I am in the garden until mid-Winter. That's okay for me but it's not okay for my workplace since I am not there to do the awesome work I was doing.

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En Passant Tuesday, May 26, 2015 - 22:11 Source

The Australian Cabinet, according to the Fairfax Press, had a vigorous debate about stripping the passports from Australian citizens who commit acts of terrorism or fight for the likes of ISIS.

The Cabinet decided to give the power to the Minister for Immigration and Border Protection to strip their passports if they were dual nationals. This would supposedly avoid making them stateless.

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Croakey Tuesday, May 26, 2015 - 21:56 Source

Jennifer Doggett reports from Darwin: A picture of a mouldy lettuce and tired looking carrot selling for $6 in a remote area of Australia was a powerful reminder to delegates at #ruralhealthconf of the challenges involved in rural and remote health....

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Cheeseburger Gothic Tuesday, May 26, 2015 - 20:52 Source

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Politically homeless Tuesday, May 26, 2015 - 20:22 Source

Should I apply for this?

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The Australian Independent Media Network Tuesday, May 26, 2015 - 20:00 Source

By Ross Sharp

If Federal Opposition leader Bill Shorten has a fire in his belly, it’s stuck on reheat and he’s warming up last week’s mouldy scones again.

Every sentence is like a rope you would like to hang yourself with. Each word in every line arrives ten seconds after you’ve already thought of it, each phrase falls limply to the floor, and flops about like a goldfish in search of a pond for a while until it realises it’s forgotten how to swim, and stops trying.

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