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Delimiter Wednesday, April 16, 2014 - 11:46 Source

The National Broadband Network Company today revealed it had successfully conducted early trials of the Fibre to the Node (FTTN) rollout model mandated by the Coalition Federal Government, with the trials delivering "raw" download speeds of 105Mbps over a distance of 100m from a local test 'node'.

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Table Talk: Bob Ellis on Film and Theatre Wednesday, April 16, 2014 - 11:37 Source

It’s a fairly obvious thing to say, but two things always work in politics. One is crime. The other is big scary numbers.

The Liberals gained office by accusing Thomson, Slipper, Obeid and Gillard of various crimes, and by waving big scary numbers — eighty billion deficit! six hundred billion debt! — at the affrighted, prurient, buffeted voters.

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MacroBusiness Wednesday, April 16, 2014 - 11:31 Source

By Leith van Onselen NAB has released its Australian Residential Property Survey for the March quarter of 2014, which revealed a small rise in sentiment nationally amongst property professionals, with house price expectations also strengthening is all states except Victoria. Concerns about rising interest rates are starting to rise, whereas employment security continues to be [...]

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Andrew Leigh Wednesday, April 16, 2014 - 11:23 Source

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Poll Bludger Wednesday, April 16, 2014 - 11:23 Source

New South Wales will shortly have its fifth Premier in seven years following the bombshell resignation of Barry O’Farrell, who was today embarrassed by the emergence of a card in which he thanked Australian Water Holdings boss Nick Di Girolamo for a $3000 bottle of wine he yesterday denied having received. O’Farrell is the state’s second Liberal Premier to have been brought down by the exertions of the Independent Commission Against Corruption, Nick Greiner having fallen foul of an adverse ruling in 1992 involving a job offer to Liberal-turned-independent MP Terry Metherell.

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Club Troppo Wednesday, April 16, 2014 - 11:15 Source

French economist Thomas Piketty has been picking up a lot of attention in the rest of the English speaking world – well mainly the US – thanks to the publication of an English translation of his recent book Capital in the 21st Century. Never heard of him? Don’t fret about it – neither had I until I quite serendipitously came across this article in the Guardian a couple of days ago.

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Table Talk: Bob Ellis on Film and Theatre Wednesday, April 16, 2014 - 11:02 Source

And so things change. Sinodinos cannot any longer be a Senator, Carr may return as party leader, or Rees, and no Liberal can win in New South Wales, Victoria, or Queensland in the next year, and the map will be pretty red by the hundredth Anzac Day, Abbott no longer Prime Minister, Labor on 54 or 56 two party preferred, Morrison in gaol, and the Greens on 20 percent.

And all because of a good Grange, duly drunk with sausages and thanked for in writing. Never in the field of human wine-tasting has so little cost a Party so much, for so long.

And so things change.

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MacroBusiness Wednesday, April 16, 2014 - 10:55 Source

Aside from the anti-Midas touch of Mark Rowsthorn, this is worth noting because McAleese’s difficulties appear to go to demand as much as ineptitude: The McAleese Group, owner of Cootes Transport, has issued its second profit warning in two months, saying trading in the March quarter has been more difficult than expected due to safety [...]

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New Matilda Wednesday, April 16, 2014 - 10:50 Source

Year after year the mining industry rolls out a PR campaign to defend the huge subsidies they receive. This year's was more tone deaf than usual - perhaps we're wising up, writes Dugald Murray

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Delimiter Wednesday, April 16, 2014 - 10:49 Source

Communications Minister Malcolm Turnbull has denied there is any hypocrisy in the Coalition Government not waiting for the same kind of cost/benefit analysis to be conducted into its broadband policy that it demanded from the previous Labor administration, accusing his critics of being 'stuck in a Labor mindset'.

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MacroBusiness Wednesday, April 16, 2014 - 10:47 Source

From Westpac: The six month annualised deviation from trend growth rate of the Westpac Melbourne Institute Leading Index which indicates the likely pace of economic growth three to nine months into the future rose from –0.15% in February to –0.09% in March. Read on… Share on Facebook Share on Twitter Share on Reddit + -

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Peter Garcia-Webb Wednesday, April 16, 2014 - 10:30 Source

Yesterday print media carried the story that both the Washington Post and the Guardian had shared the 2014 Pulitzer Prize in Journalism for Public Service. The prize was based on their reporting of the Edward Snowden disclosures. Now both the Wall Street Journal and The Australian carry the same article by Liam Fox stating that Snowden is a traitor. It’s tempting to assume that publishing the articles is simply sour grapes. The Wall Street Journal, […]

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MacroBusiness Wednesday, April 16, 2014 - 10:25 Source

NSW Premier Barry O’Farrell has resigned after a handwritten note  in which the premier thanked the head of a company linked to Eddie Obeid for a $3000 bottle of wine was tendered to the Obeid ICAC inquiry. The wine was sent during negotiations for a $1 billion government contract with Australian Water Holdings. O’Farrell had [...]

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MacroBusiness Wednesday, April 16, 2014 - 10:20 Source

By Leith van Onselen The Australian has published a neat article today citing Parliamentary Budget Office (PBO) analysis warning of big rises in personal income taxes unless the Government embarks on widespread tax reform: PERSONAL income tax is the only prospective source of revenue growth for the federal government, with all other major taxes either [...]

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xkcd.com Wednesday, April 16, 2014 - 10:00 Source

To be fair, my job at NASA was working on robots and didn't actually involve any orbital mechanics. The small positive slope over that period is because it turns out that if you hang around at NASA, you get in a lot of conversations about space.

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The Australian Independent Media Network Wednesday, April 16, 2014 - 09:41 Source

00036672-642Mark Kenny has been effusive in his praise of Tony Abbott, writing: Abbott in China shows skills beyond his years

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MacroBusiness Wednesday, April 16, 2014 - 09:41 Source

BHP has shown up Rio’s thin weather excuse yesterday with boom quarter of iron ore production on good weather and annual output upgrade: BHP Billiton maintained strong momentum in the nine months ended March 2014 with record production achieved for four commodities and at 10 operations. Strong operating performance throughout the period, the relatively limited [...]

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MacroBusiness Wednesday, April 16, 2014 - 09:08 Source

By Leith van Onselen The AFR is reporting today that Health Minister, Peter Dutton, is planning major changes to Medicare in order to reign-in costs, including introducing a co-payment on GP and emergency hospital services, as well as introducing “private sector efficiencies” into the public hospital system and greater private health insurance involvement in chronically [...]

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MacroBusiness Wednesday, April 16, 2014 - 09:07 Source

  Last night’s market action saw a decent bounce in stocks with the S&P up 12 points. However, the more important action was in bond markets which, despite the rise in stocks, remained strongly bid and again threatened to break yields down to new lows. Data for the night was modestly positive. The NAHB Builder [...]

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WixxyLeaks Wednesday, April 16, 2014 - 08:41 Source

Hi,

For those of you who are regular visitors to Wixxyleaks I wanted to let you know that you may be noticing some changes around the joint.

Wixxyleaks has undergone a facelift.

I hope you will find the new look site easier to navigate and a bit brighter to look at.

Alas the move is not without some shortcomings…

Those who have subscribed to Wixxyleaks via email, I have managed to save your details and you will continue to receive updates.

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Ambit Gambit Wednesday, April 16, 2014 - 08:03 Source

As a Tasmanian who has endured a destroyed budget in recent years, it frustrates me no end to see the same issues played out nationally, and be completely missed by the media. 99% of media focus on gov’t spending / taxation – nothing about how our economy grows and contracts. In other words all focus is […]

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MacroBusiness Wednesday, April 16, 2014 - 07:36 Source

By Leith van Onselen The Coalition’s vow to “end the age of entitlement” has taken a serious hit, with Prime Minister Abbott seemingly ruling-out making changes to Aged Pension arrangements until after the next federal election. From The Australian: “If there is one lesson to be learned from the political quagmire that the former government [...]

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MacroBusiness Wednesday, April 16, 2014 - 05:42 Source

Capital Economics has produced a little note on China with which I entirely agree. It examines the slowing growth base case, as well as very plausible Chinese hard landing scenarios if reform has a little accident on the way. China’s changing growth model Before getting into what a hard-landing would look like, it is important to [...]

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MacroBusiness Wednesday, April 16, 2014 - 05:30 Source

Cross-posted from Investing in Chinese Stocks. China Economic Weekly (中国经济周刊) and China Economic Research Institute (中国经济研究院)teamed up to study China’s 23 provinces’ exposure to land prices. Zhejiang topped the list as most exposed. First some background. China $3 trillion local government debt stirs alarm Analysts said this suggested China is not on a verge of a fiscal [...]

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MacroBusiness Wednesday, April 16, 2014 - 03:59 Source

From Bloomie: Ukraine unleashed an offensive to dislodge militants from cities in the eastern Donetsk region as authorities in the capital Kiev said Russian special forces were identified among the anti-government groups. From four to 11 militants were killed and two wounded when Ukrainian troops stormed an airfield in Kramatorsk, taking it under control, Russian state television reported…The [...]

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MacroBusiness Wednesday, April 16, 2014 - 03:55 Source

Here’s the snapshot of ANZ’s new media site, BlueNotes:   Even allowing for some future diversification of material, the site is so heavily branded that it can’t be mistaken for anything other than public relations (PR) material, which is good. The main influence of the site to watch will be whether it’s able to push [...]

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MacroBusiness Wednesday, April 16, 2014 - 03:37 Source

I missed this yesterday, the cause of macroprudential took another serious blow after it was backed by the Pascometer: …if the strong dollar is restraining economic growth, it becomes much harder for the RBA to lift rates if they only reason is the perception that housing prices are rising too far, too fast. Which in [...]

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MacroBusiness Wednesday, April 16, 2014 - 03:10 Source

By Leith van Onselen The ANZ-Roy Morgan Research (RMR) consumer confidence index has been released for the week ended 13 April, which fell for the third consecutive week (down 1.3 points) to be a touch below its long-term average (113.0) and well below the highs reached after last year’s Federal Election: The fall in the [...]

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MacroBusiness Wednesday, April 16, 2014 - 03:02 Source

I was motivated by this article in The Economist about housing costs in London to really dig down to how most economists think about housing supply and land markets.  Today I want to share a simple model I use to help understand compositional effects on measures of land and housing markets, and subsequently the reliability [...]

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MacroBusiness Wednesday, April 16, 2014 - 02:59 Source

Imagine a modern economics textbook comprising of three parts, with the last two being Analysis and Modern Problems. What do you think would the first part would be called? I doubt your answer was Economic Doctrines. But that’s exactly how Joan Robinson began her textbook An Introduction to Modern Economics back in 1973. For Robinson, [...]

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