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MacroBusiness Tuesday, August 15, 2017 - 11:06 Source

From Australia’s worst company, STO: That’s nearly $3bn in write downs on GLNG now. It only owns 30% of the great $18.5bn elephantine failure so over half of the carrying value is now gone. Worry not, the rest will disappear in due course as those oil forecast are never met. As it throws loss-making gas

The post Santos writes off more of the great white elephant appeared first on MacroBusiness.

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MacroBusiness Tuesday, August 15, 2017 - 10:33 Source

By Leith van Onselen Australia’s real estate treasurer, Scott Morrison, gave a poor interview on The Chris Smith Show yesterday, whereby he contorted arguments in favour of negative gearing and maintaining Australia’s mass immigration ‘Big Australia’ policy. First, here’s Morrison’s remarks around negative gearing (from 2.36): “One in five police officers negatively gear. About 62%

The post Scott Morrison outright lies on immigration and negative gearing appeared first on MacroBusiness.

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MacroBusiness Tuesday, August 15, 2017 - 10:28 Source

Via Morgan Stanley: The pending retirement of CEO Narev in 2018 suggests more change is likely at CBA. At the same time, we believe the end of the mortgage bull market and increased political and regulatory scrutiny will weigh on CBA’s growth, returns and trading multiples. Response to the AUSTRAC announcement: The Chairman has responded

The post The fallout from ConBank appeared first on MacroBusiness.

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Popular Science Tuesday, August 15, 2017 - 10:11 Source

Once difficult and expensive even for the most technologically advanced labs, genetic testing is fast becoming a cheap and easy consumer product. With a little spit and 200 dollars, you can find out your risk for everything from cystic fibrosis to lactose intolerance.

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Popular Science Tuesday, August 15, 2017 - 10:11 Source

“Bubonic” is almost onomatopoeic. It sounds bulbous and grotesque and ancient. It sounds like something your great great grandmother might have contracted as a child, along with “the consumption.” So when headlines proclaim that the bubonic plague is alive in Arizona (or New Mexico, or wherever) it feels like some archaic monster has risen from the grave. The reality is that it never actually died.

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Popular Science Tuesday, August 15, 2017 - 10:11 Source

Forget Smokey the Bear. The Forest Service has a new message for Americans: Keep your drones out of their wildfires.

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Popular Science Tuesday, August 15, 2017 - 10:11 Source

Every year, young sea turtles migrate up the US East Coast to spend the summer foraging in northerly waters. Sometimes, they wind up in the Gulf of Maine, which stretches from Cape Cod Bay to Nova Scotia. As the weather cools, the turtles, including endangered Kemp's ridley and loggerhead turtles, begin to swim south.

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Popular Science Tuesday, August 15, 2017 - 10:11 Source

You can make a battery out of a lemon, a tomato, an orange or a stack of old two cent coins. And now, thanks to a miracle of modern science, you can make a battery using spit.

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Popular Science Tuesday, August 15, 2017 - 10:11 Source

What makes lollies taste sweet and coffee taste bitter, and not the other way around? In a study published this week in Nature, researchers identified the secret ingredient that keeps our tastes distinct.

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Popular Science Tuesday, August 15, 2017 - 10:11 Source

One man's garbage is another man's treasure. Or in this case, one space telescope's extra data is another researcher's gold mine.

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Popular Science Tuesday, August 15, 2017 - 10:11 Source

It's no secret that exercise makes your heart bigger in a healthy way, helping it to pump blood more efficiently and lessening the potential for heart failure. Figuring out a way to mimic the way exercise manages to do this could be an extremely beneficial way to treat certain types of heart conditions. A study out this week shows how a protein called cardiotrophin 1 might in fact do this: have the same positive effects on the heart, minus the actual exersise part.

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Popular Science Tuesday, August 15, 2017 - 10:11 Source

On October 9, 2006, North Korea conducted its first nuclear test. Since then, the nation has tested nuclear devices four more times, most recently in September 2016. Running parallel and complementary to the nuclear program is a missile program that, twice in July, tested ICBMs with a range that can likely reach most of the continental United States. Earlier this week, a report from the Defense Intelligence Agency estimated that North Korea has miniaturized a nuclear warhead, making it small enough to fit on a missile.

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The Tally Room Tuesday, August 15, 2017 - 10:00 Source

Queensland has recently undergone a redistribution of state electoral boundaries, the first in almost a decade. The existing boundaries were used at three elections: 2009, 2012 and 2015.

The number of seats was increased from 89 to 93. This resulted in the creation of five new electorates, with two seats merged.

The inner-city electorates of Indooroopilly and Mount Coot-tha were merged into the new seat of Maiwar. Maiwar is a marginal LNP seat, with a margin of 3%.

Five new seats were created:

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Harrangue Man Tuesday, August 15, 2017 - 10:00 Source

"Because you're a fucking head fuck!"My words just failed me whilst solo-raging. I'm usually more erudite. I tried looking in the mirror when doing it---a suggestion from a doctor to try to stop these moments---but I looked awesome in angry oratory mode so clearly objectivity while mad drops off as well.Emotion; it clouds the logic but it's part of being human. 

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MacroBusiness Tuesday, August 15, 2017 - 09:31 Source

By Chris Becker   Volatility deflates overnight as worries over Korea abated, sending stocks higher as safe havens like Yen and gold were dumped. Meanwhile, the USD returned to strength which emboldened European stocks that have been under the weight of the Euro, while oil dropped. Yesterday in mainland China the Shanghai Composite came back

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Tuesday, August 15, 2017 - 09:22 Source

By Leith van Onselen The 2016 Census was unkind to Australia’s growing army of renters: Not only have rental costs increased significantly relative to household incomes over the past 15 years: But the proportion of renters in “stress” – defined as spending more than 30% of their household incomes on paying their rents – has

The post And now for a war on renters appeared first on MacroBusiness.

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MacroBusiness Tuesday, August 15, 2017 - 09:20 Source

Iron ore charts for August 14, 2017: Tianjin benchmark was unchanged at $74.30 though I suspect that should read “unupdated” given big falls in steel and iron ore futures. I still think we’re at the top here. Everything is inflated, demand is fading, stocks are high. There’s no mileage in bidding prices up. The question

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

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Your Democracy Tuesday, August 15, 2017 - 09:11 Source

atms

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MacroBusiness Tuesday, August 15, 2017 - 09:02 Source

By Leith van Onselen I’ve noted over recent months how a wide disconnect has opened up between the pay rises being received by federal politicians and senior bureaucrats compared with the rest of the population. This disconnect is shown clearly in the most recent wages price data from the ABS, which showed public sector wages

The post Oligarchic public servants big winners in low wage economy appeared first on MacroBusiness.

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MacroBusiness Tuesday, August 15, 2017 - 08:56 Source

I’ve been warning of this for a few years, via Macquarie: Event  WPL, OSH and STO release their 2017 half-year results on Aug 16, 22 and 24, respectively, and we updated our outlook ahead of results. Impact  Impairment risks: We believe both STO and WPL could announce impairments for H1CY17, together totalling ~US$1bn.

The post LNG contractpocalypse arrives appeared first on MacroBusiness.

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Cheeseburger Gothic Tuesday, August 15, 2017 - 08:53 Source

...AND MY HAMMER, MOTHERF***ERS.THAT, my Beloved Throners, is how you make a reappearance four seasons after we last saw you. Quit your job no questions asked, kill two guys with your mighty f***ing warhammer, ignore Davos"s advice to play it cool and just f**ing bro up with Jon Snow.

Welcome back, Gendry. I don"t even mind that you had your shirt on.

Davos" recruitment of the last Baratheon bastard turned out to be everything I ever wanted. To misquote Homer Simpson, I"m a white woman, aged 18 to 49, and (finally) everyone listens to me: Jon and Gendry, together at last!

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Renew Economy Tuesday, August 15, 2017 - 08:49 Source

Successful completion of optimised turbine for low wind sites.

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The Melbourne Urbanist Tuesday, August 15, 2017 - 08:49 Source

More problems are coming to light with the proposed West Gate Tunnel in Melbourne. The Government needs to do a better job of explaining and justifying this project Has the case been made for the West Gate Tunnel?

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Renew Economy Tuesday, August 15, 2017 - 08:43 Source

Project partners for Europe’s first commercial battery plant to bring innovative black start concept to market maturity/Younicos software manages reliable re-establishment of power grid.

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The Australian Independent Media Network Tuesday, August 15, 2017 - 08:00 Source

They say we can’t predict the future, but I’m damn sure we can do a lot to control the course of it. When we look back on our own past, our country’s past, or even the world’s past … there will be a hundred signposts that we missed that could have taken us down a…

The post August 15, 2017: the most important day in the future appeared first on The AIM Network.

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The Australian Independent Media Network Tuesday, August 15, 2017 - 06:00 Source

Tuesday 15 August 2017 Although at first blush you may think that this piece has little to do with politics, indirectly it does. That is if decency, civility, compassion and good manners are to form any part of it. There are many members of Parliament who profess to be Christians. How do they measure up?…

The post Day to Day Politics: The politics of ‘The Ten Commandments’ appeared first on The AIM Network.

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MacroBusiness Tuesday, August 15, 2017 - 05:51 Source

DXY rebounded with risk overnight: The Aussie was weak against both majors: It was also weak against other EMs: Gold fell: The Brent short squeeze ended with a bang: Base metals rose: Big miners too: EM stocks bounced: High yield too: US yields rose but the curve flattened: European spreads tightened: And stocks launched: The

The post Australian dollar flames out appeared first on MacroBusiness.

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MacroBusiness Tuesday, August 15, 2017 - 05:49 Source

Via the AFR:   It’s almost impossible to find anyone these days who’s not frustrated about the lacklustre efforts of the local sharemarket when compared to Wall Street and how the major S&P ASX 200 index just can’t get much beyond the 5700 level in any meaningful way. Unfortunately for investors, both trends look set to continue.

The post Why is the ASX so crap? appeared first on MacroBusiness.

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Poll Bludger Tuesday, August 15, 2017 - 04:38 Source

The Guardian reports that Essential Research’s fortnight rolling average has Labor’s two-party preferred lead unchanged at 54-46, with the Coalition (37%), Labor (39%), the Greens (9%) and One Nation (8%) all unchanged on the primary vote. The poll also records 39% approval of the postal ballot on same-sex marriage with 47% opposed, just one week after the same question elicited respective results of 43% and 38%.

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MacroBusiness Tuesday, August 15, 2017 - 04:00 Source

Baaaanaby Joyce is a Kiwi and the excuses are flowing as the government could fall in a bi-election: The deputy prime minister’s case has been referred to the High Court along with that of his colleague, Nationals Senator Matthew Canavan, who has stood aside from cabinet until it is resolved. On several occasions in past weeks

The post Baaaaanaby Kiwi to bring down government? appeared first on MacroBusiness.

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