Blogotariat

Oz Blog News Commentary
Renew Economy Wednesday, September 18, 2019 - 12:19 Source

Few nations are on track to reaching our goal, causing us to head to a warming above 3℃ by 2100 - and this will have catastrophic consequences for the planet.

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MacroBusiness Wednesday, September 18, 2019 - 12:01 Source

Via the ABC: Labor is facing accusations it is using “dog whistle” politics in its attack on Liberal backbencher Gladys Liu, who is under sustained pressure amid allegations about her links to China Federal Government Leader in the Senate, Mathias Cormann, told the Parliament Ms Liu had the Coalition’s “full support” to remain as an

The post Senate erupts as Cormann backs Gladys Liu “double agent” appeared first on MacroBusiness.

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Renew Economy Wednesday, September 18, 2019 - 11:52 Source

ACT to become the first jurisdiction outside Europe to complete the switch from fossil fuel electricity to a grid powered completely by renewables.

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MacroBusiness Wednesday, September 18, 2019 - 11:40 Source

Some welcome news for LNG producers as the spike in the oil price flows through to the gas price for many Australian producers due to contracts struck over a decade ago. However, it is a short term gain only, the LNG market is highly competitive and only going to get more competitive going forward –

The post First US, then Russia, to ravage Australian LNG appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 18, 2019 - 11:20 Source

A few more charts for ya, from the WSJ’s Daily Shot. China’s credit impulse ain’t going anywhere fast: The PBOC has been slow to react: And growth is fading: It’s going to have cut the cash rate soon.

The post Chinese stimulus remains weak appeared first on MacroBusiness.

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Your Democracy Wednesday, September 18, 2019 - 11:14 Source

wings

Today, I am confused. Is it because I had a late late dream in which I was repainting the interior of one of "my" (only in my dream) properties in Palm Beach with the brightest electric blue, carefully delineating the several hundred fuse boxes to be installed at random, after having flooded the ocean by lifting an elastic band attached to a measuring stick? 

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MacroBusiness Wednesday, September 18, 2019 - 11:00 Source

No surprise here, via Westpac: Last month’s improved signal has been very short lived with the Index growth rate back firmly in negative territory where it has been stuck for eight of the last nine months. The major contributors to the sharp fall in the growth rate over the month came from substantial drags from

The post Australian leading index falls away appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 18, 2019 - 10:40 Source

After spending years in the doldrums, whereby rental prices fell by 22% peak-to-trough: SQM Research claims that Perth rents are “in a strong recovery phase”: After an extended housing downturn, it appears that Perth’s rental market is in a strong recovery phase. While rental vacancy rates are elevated at 2.9% the trend has been down

The post Perth’s rental market enters “strong recovery phase” appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 18, 2019 - 10:20 Source

This morning I was interviewed by Luke Grant from Radio 2GB to discuss yesterday’s article on Australia’s “bullshit” services jobs boom. Below is the exerpt: Leith Van Onselen, from Macrobusiness – the ‘Unconventional Economist’, about his article ‘Australia’s services “bogus” jobs boom He writes ‘the types of services jobs that have been created are more

The post LvO talks “bullshit” services jobs on Radio 2GB appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 18, 2019 - 10:00 Source

The Australian has published a report warning that Australia’s water supply is running far behind the nation’s rapid immigration-driven population growth: It’s the worst drought in generations… But the story goes back much further: a progressive slowdown in construction of dams over the decades has led to a crisis that might have been avoided had

The post 17.5m more migrants will suck Australia’s water dry appeared first on MacroBusiness.

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xkcd.com Wednesday, September 18, 2019 - 10:00 Source

"The committee appreciates that your 2020 launch is on track, but the 'human capital/personnel retention' budget includes a lot more unmarked cash payments than usual. What are th--" "Public outreach."

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MacroBusiness Wednesday, September 18, 2019 - 09:40 Source

Via The Australian comes mafiosi number one, Origin Energy: “The ADGSM or any similar mechanism is an extreme form of intervention that should only be temporary,” Origin said in its submission to the government review. The ADGSM could lead to “an increased likelihood for moral hazard to the extent prospective buyers choose not to enter

The post Gas mafia demands crime pay appeared first on MacroBusiness.

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Renew Economy Wednesday, September 18, 2019 - 09:32 Source

 Kārlis DambrānsAustralian energy major AGL launches plan for electric vehicle drivers to earn credits towards bills reducing household costs and offsetting higher purchase price of EVs.

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MacroBusiness Wednesday, September 18, 2019 - 09:20 Source

Beijing knows an asset when it sees one. From the ultra-nationalist Global Times yesterday: The Bolt Report on Sky News Australia on the night of September 10 was almost like “a bully’s report,” where ultra-conservative anchor Andrew Bolt intimidated and interrogated Gladys Liu, the first Chinese-born female Federal Liberal MP from Chisholm in Victoria, Southeastern

The post Beijing endorses Shanghai Scott’s defense of Gladys Liu appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 18, 2019 - 09:00 Source

Texture from Clyde Russell: Is it time to challenge the conventional wisdom in iron ore and steel markets that poor Chinese economic data is actually good news because it means Beijing will ramp up stimulus spending, thereby boosting demand? The current thinking of ‘bad data equals good news’ was on display this week, with steel

The post Daily iron ore price update (ex-growth) appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 18, 2019 - 08:30 Source

By Chris Becker  Markets are being pushed around by central bank speculation and a calming of the nerves surrounding the Saudi oil supply crunch with a surprise build in oil inventory cutting the recent gap higher in half for both WTI and Brent crude prices. The USD fell back against the majors with the Euro

The post Macro Morning appeared first on MacroBusiness.

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Renew Economy Wednesday, September 18, 2019 - 08:14 Source

battery storage wind solar - optimisedA new report injects hope into the climate fight with a list of 10 measures – using current technologies – that can keep global warming to well below 2°C. But not at the current rate of progress, and not without the support of good policy.

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MacroBusiness Wednesday, September 18, 2019 - 06:25 Source

DXY faded last night as EUR rebounded and CNY fell: The Australian dollar rebounded against DMs: And EMs: Gold held its gains: Oil dropped heavily: Metals fell: And miners: Plus EM stocks: But junk lifted: As Treasuries were bid: While bunds sold: And Aussie bonds rose: Stocks were firm: Saudi reassured, via Bloomie: Saudi Arabia

The post Australian dollar hangs on amid spiking global recession fears appeared first on MacroBusiness.

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Poll Bludger Wednesday, September 18, 2019 - 02:14 Source

The latest Essential poll finds Scott Morrison's approval rating edging up to a new high, with most respondents supporting a tough line on offshore detention of asylum seekers – but not so tough that they support the repeal of medical evacuation laws.

The post Essential Research leadership ratings appeared first on The Poll Bludger.

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MacroBusiness Wednesday, September 18, 2019 - 00:10 Source

It never ceases to amaze how our dishonest governments pull the wool over voters’ eyes on immigration. In Australia, we’ve recently witnessed the Morrison Government wax lyrical about reducing immigration to “relieve congestion in the cities”, only to then see the number of temporary visas balloon to unprecedented levels, as illustrated below: Accordingly, net overseas

The post Governments open temporary visa floodgates appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 18, 2019 - 00:08 Source

SQM Researchhas released its rental vacancy series for August, which revealed a small decrease in the national vacancy rate to 2.2% from 2.3% last month; although it was up 0.1% over the year: Over the year, decreases in vacancies were recorded in Brisbane (-0.3%), Perth (-0.8%), Adelaide (-0.2%), and Darwin (-0.6%), whereas increases were recorded

The post Sydney rental vacancies to hit 4% by year’s end appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 18, 2019 - 00:06 Source

On Monday, Fairfax reported that around 1,000 Chinese international students studying in Australia have fallen victim to extortion by Chinese criminal syndicates: Chinese students are being forced to pretend they’ve been kidnapped, taking photos of themselves bound and gagged, in an alarming scam sweeping the country. Almost 1000 people have reported falling victim to scams

The post 1,000 Chinese international students extorted appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 18, 2019 - 00:05 Source

Via Department of Employment, Skills, Small and Family Business: The Monthly Leading Indicator of Employment (the Indicator) has fallen for the sixteenth consecutive month in September 2019, after nine consecutive monthly rises. The Indicator’s fall this month is attributed to declines in four of its five components—reflecting tighter financial conditions in the USA, soft domestic

The post DSSFB jobs leading indicator falls away appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 18, 2019 - 00:01 Source

Global Macro / Markets / Investing: OxyContin maker Purdue Pharma files for bankruptcy – After owners stash the loot away – BBC Dow set to lose more than 100 points on fears spiking oil will slow the global economy – CNBC Oil prices surge nearly 20% after attack on Saudi facilities – Reuters Oil prices

The post Links 18 September 2019 appeared first on MacroBusiness.

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George Monbiot Tuesday, September 17, 2019 - 22:09 Source

Neoliberalism
has stalled, so the fanatics in government are using Brexit to revive it.

By George
Monbiot, published in the Guardian 11th Sepetmber 2019

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The Australian Independent Media Network Tuesday, September 17, 2019 - 18:51 Source

By Ad Astra It was in 2012 that The Price of Inequality by Nobel Prize winner Joseph Stiglitz was published in America and the United Kingdom. In 2013 it was distributed worldwide by Penguin Books. This seminal work, tellingly subtitled How Today’s Divided Society Endangers Our Future was widely acknowledged. As Stiglitz recounts in the Preface to…

The post The Yoke of Inequality Burdens Us All appeared first on The AIM Network.

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The Australian Independent Media Network Tuesday, September 17, 2019 - 17:27 Source

By Michael Brazel   Let’s talk about the attack on the oil processing facility in Saudi Arabia. This has the potential to be the critical flash-point not only in Middle Eastern affairs but in the world’s financial systems. This could snowball out from the deserts where our modern concept of civilisation and bring down the world…

The post Petroleum Crumbs appeared first on The AIM Network.

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MacroBusiness Tuesday, September 17, 2019 - 17:00 Source

Quite a mixed session across Asia today with Chinese stocks slumping, Australian advancing while the long weekend dampener has seen Japanese bourses remain steady, despite a weaker Yen. Oil prices haven’t moved much since their weekend gap, but this could be the calm before the storm as OPEC is due to hold a press conference

The post Macro Afternoon appeared first on MacroBusiness.

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Renew Economy Tuesday, September 17, 2019 - 16:09 Source

Second-round September offer of 3,250 rooftop solar rebates taken up in little more than a quarter of an hour.

The post Victoria solar demand still sizzling: another 3,250 rebates gone in 20 minutes appeared first on RenewEconomy.

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Renew Economy Tuesday, September 17, 2019 - 16:03 Source

northern territory generaton gas turbine - optimisedNT Government owned utility says it faces an 'existential risk' from increased solar uptake. Can a big battery save it?

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