Blogotariat

Oz Blog News Commentary
MacroBusiness Wednesday, October 22, 2014 - 09:03 Source

By Leith van Onselen RBA deputy governor, Phil Lowe, gave a speech yesterday afternoon to the Commonwealth Bank of Australia’s 7th Annual Australasian Fixed Income Conference, whereby he expressed overwhelming frustration that the prolonged period of record low interest rates had not generated genuine productive investment, and had instead been channeled into existing assets, like […]

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The Piping Shrike Wednesday, October 22, 2014 - 08:43 Source

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MacroBusiness Wednesday, October 22, 2014 - 08:11 Source

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En Passant Wednesday, October 22, 2014 - 07:23 Source

I wrote this almost 2 years ago on the 40th anniversary of the election of the Whitlam Labor government. It seems still relevant today as we look back on Gough Whitlam’s life.

Forty years ago the Labor Party won government for the first time in 23 years in Australia. Gough Whitlam, one of the most right wing members of the Party, came to power as Prime Minister on the back of massive social movements and a strike wave in the late 60s and early 70s, both of which shifted society to the left.

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MacroBusiness Wednesday, October 22, 2014 - 05:38 Source

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MacroBusiness Wednesday, October 22, 2014 - 04:45 Source

Cross-posted with permission from George Magnus. Among the many things that perplex and intrigue China watchers and thinkers is China’s credit boom, which has already propelled non-financial, largely corporate and local government, to around 250% of GDP, up 100% over a decade. The widest published measure of credit, total social financing, which probably understates credit […]

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George Monbiot Wednesday, October 22, 2014 - 03:24 Source

How our governments now talk about human beings.

By George Monbiot, published in the Guardian 21st October 2014

To blot people out of existence first you must blot them from your mind. Then you can persuade yourself that what you are doing is moral and necessary. Today, this isn’t difficult. Those who act without compassion can draw upon a system of thought and language whose purpose is to shield them – and blind us – to the consequences.

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The Australian Independent Media Network Wednesday, October 22, 2014 - 03:08 Source

Today’s passing of Gough Whitlam has left me today with a heavy heart, along with so many other people in this country.  To simply reflect on how one man has progressed this country like no other, is overwhelming.   I believe as a collective, we don’t really stop and appreciate what we have.  We do take our wonderful country, our people and our existing social support systems for granted.  So many things we would not have without Gough Whitlam. Thank you, to a great man.

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MacroBusiness Wednesday, October 22, 2014 - 02:40 Source

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MacroBusiness Wednesday, October 22, 2014 - 02:16 Source

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MacroBusiness Wednesday, October 22, 2014 - 02:15 Source

From the World Steel Association today: World crude steel production for the 65 countries reporting to the World Steel Association (worldsteel) was 134 million tonnes (Mt) in September 2014, a slight decrease of -0.1% compared to September 2013. China’s crude steel production for September 2014 was 67.5 Mt, the same compared to September 2013. Elsewhere […]

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Duck Pond Wednesday, October 22, 2014 - 02:12 Source

The Abbott Government finds untrammelled enthusiasm, alacrity and “hang the cost” to join the coalition of the killing  in the sky over Iraq in stark contrast with a stubborn disinclination and outright refusal to assist with the humanitarian crisis caused by the ebola epidemic in West Africa. What gives?

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MacroBusiness Wednesday, October 22, 2014 - 01:22 Source

I’ve given up on this index as a leading indicator of anything but it’s probably worth noting that the Baltic Dry capesize component rocketed the most ever yesterday, from Bloomie: Daily rates for Capesize vessels hauling about 160,000 metric tons of the commodity jumped 38 percent to $12,580 today, according to the Baltic Exchange in London, a shipping […]

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MacroBusiness Wednesday, October 22, 2014 - 01:01 Source

Global Macro / Markets / Investing: How oldies are killing the world economy – and could yet rescue it – The Telegraph What do pros really think about the market – Humble Student Why the low volatility anomaly should persist – Monevator Why regulating high frequency trading is so difficult – Dealbook North America: U.S. […]

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North Coast Voices Wednesday, October 22, 2014 - 00:16 Source

Last week Andrew Stoner resigned as Leader of the NSW National Party and Deputy-Premier.He was replaced by Troy Grant who has been in parliament for less than four years.This is Mr.

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North Coast Voices Wednesday, October 22, 2014 - 00:15 Source

If this  account is factual then it seems there is no good deed that Clarence Valley Council is not prepared to punish.....Clarence Valley Rate Payers, Residents & Business Owners 18 October 2014:UPDATE Clarence Valley Council issued this statement on 20 October

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Politically homeless Tuesday, October 21, 2014 - 23:46 Source

I met a traveller from an antique landWho said: "Two vast and trunkless legs of stoneStand in the desert. Near them on the sand,Half sunk, a shattered visage lies, whose frownAnd wrinkled lip and sneer of cold commandTell that its sculptor well those passions readWhich yet survive, stamped on these life less things,The hand that mocked them and the heart that fed.And on the pedestal these words appear:`My name is Ozymandias, King of Kings:Look on my works, ye mighty, and despair!'Nothing beside remains.

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Core Econ Tuesday, October 21, 2014 - 23:03 Source

Gough Whitlam was the first prime minister I was aware of. Actually, I recalled yesterday that I had seen every Australian Prime Minister since (up until the current one) in the flesh. What other country is that possible?

I saw Whitlam for the first time, in the flesh as it were, when I was 5 year’s old. It is one of my earliest memories. We were at Coogie Beach. I thought we were there for the clown show but, in fact, we were there to hear Whitlam speak. I remember him shouting at the crowd — that is what one of his speeches sounded like. It is clear in my mind today as I thought about it ever since.

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Croakey Tuesday, October 21, 2014 - 21:26 Source

Many thanks to The Conversation for allowing us to repost this overview of the legacy of Gough Whitlam. By Richard Holden, UNSW Australia Business School; Anne-marie Boxall, University of Sydney; Diana Perche; Hannah Forsyth, Australian Catholic...

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laberal Tuesday, October 21, 2014 - 21:21 Source

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Your Democracy Tuesday, October 21, 2014 - 20:18 Source

Gough ....

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The Australian Independent Media Network Tuesday, October 21, 2014 - 19:41 Source

Is Bill Shorten living up to the Labor tradition? AIMN reader Sir ScotchMistery certainly doesn’t think so.

This afternoon I sat down to finalise my email for the day, and in my inbox, signed by Bill Shorten, was the following missive, which as I read it just had me so angry, I felt I should make a reply.

Unfortunately, the emails from the Labor Party don’t actually allow you to reply to them, so rather than have my efforts go to waste, I thought to pop them together and send them through to The AIMN because I’m sure I’m not alone.

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En Passant Tuesday, October 21, 2014 - 19:35 Source

 

Gough Whitlam has died at age 98 writes Tom Bramble in Red Flag.

I await the torrent of tributes from politicians who will praise his government’s social reform program in Australia but who themselves have spent their entire careers trying to bury it – free education, expansion of welfare programs, land rights, women’s rights, improvements to public service conditions and so forth.

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The Australian Independent Media Network Tuesday, October 21, 2014 - 17:14 Source

So much has been said of the late Gough Whitlam since his passing this morning that I doubt there is anything new I could offer.

Carol wrote a brief article (We want Gough) a couple of years ago to celebrate his 96th birthday and to save me what might be a laborious task scratching around for those few extra elusive words, she has kindly let me reproduce it here. The words she found two years ago still fit nicely today.

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Cheeseburger Gothic Tuesday, October 21, 2014 - 16:33 Source

W from Brisneyland sent me this video, which I found rather droll. It is not safe for work.

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MacroBusiness Tuesday, October 21, 2014 - 16:07 Source

Chris Weston, Chief Market Strategist at IG Markets Earnings are having a greater role in market sentiment, with poor earnings from SAP, Phillips and IBM putting some focus back on fundamentals. Apple’s solid post-market result is keeping NASDAQ futures supported, which is just as well as Asian markets have shown limited signs of life. For […]

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MacroBusiness Tuesday, October 21, 2014 - 15:41 Source

Via Forexlive: From Barclays economist Kieran Davies, on the October monetary policy board meeting minutes (released earlier today): The RBA board appears to have discussed macroprudential tools at the meeting No disclosure in the minutes, though Davies is of the opinion that the RBA may introduce a new ‘macro-prudential’ measure before the end of 2014 Davies […]

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FACTS FIGHT BACK Tuesday, October 21, 2014 - 15:32 Source

Peter Reith writing in the Australian Financial Review today claimed that:

The coal industry alone provides about 200,000 jobs and brings in billions of dollars to our economy to underscore living standards.

According to the Australian Bureau of Statistics coal mining employs 37,800 people. Mr Reith’s claim is more than five times this number.

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MacroBusiness Tuesday, October 21, 2014 - 15:31 Source

Here’s a more positive read (for the world) on today’s China data from Capital Economics via the SMH blog: We won’t get the full breakdown of GDP by industry until tomorrow but we suspect that the slowdown remains heavily concentrated in the real estate sector, which grew a mere 2.0% y/y in Q2. Growth in the […]

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The Australian Independent Media Network Tuesday, October 21, 2014 - 15:30 Source

Gough Whitlam (1916-2014)

I recall the first time I laid eyes upon him. It was at a Labor rally at the suburban Greensborough Football oval in Victoria.

The ‘’Its Time’’ slogan had indelibly entrenched itself on my political awareness. All that I thought decent about Labor and its reformist zeal was encapsulated in the words of this intellectually formidable man.

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