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MacroBusiness Friday, October 12, 2018 - 13:15 Source

By Leith van Onselen Today’s housing finance data for August posted a 4.2% slump in the number of new home finance commitments (both construction and new), with commitments crashing by 13.8% over the year: The annual number of new home commitments is still running near the highest levels since the mid-1990s, but is clearly falling

The post New home finance also tanks appeared first on MacroBusiness.

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MacroBusiness Friday, October 12, 2018 - 12:45 Source

Via Tim Lawless: The latest data on the number of dwellings under construction across Australia highlights a growing settlement risk across the Melbourne and Sydney unit markets. The Australian Bureau of Statistics published building activity data this week which showed there were 227,122 dwellings under construction nationally, only slightly lower (0.6%) than the record high

The post CoreLogic: Settlement risk is exploding appeared first on MacroBusiness.

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MacroBusiness Friday, October 12, 2018 - 12:06 Source

By Leith van Onselen Today’s housing finance data for August, released by the Australian Bureau of Statistics (ABS), posted a heavy fall in overall finance commitments, with both investor and owner-occupied demand collapsing. According to the ABS, the total number of owner-occupier finance commitments (excluding refinancings) fell by 2.9% in August in seasonally adjusted terms

The post Owner occupiers sucked into Australian housing finance crash appeared first on MacroBusiness.

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MacroBusiness Friday, October 12, 2018 - 11:45 Source

By Leith van Onselen The ACTU has released research arguing that the cost of living for essential items is rising far higher than the consumer price index (CPI). From SBS News: Energy, child care and housing prices have soared higher than average cost of living measures, new research has revealed. An Australian Council of Trade Unions

The post ACTU: living costs worse than reported appeared first on MacroBusiness.

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MacroBusiness Friday, October 12, 2018 - 11:30 Source

Join Damien Klassen, David Llewellyn Smith and Tim Fuller as we discuss the new cold war between the US and China and how it affects the world of investment. Join our next live webinar Find out below: Take us on your daily commute ! Podcasts now available on iTunes and all major Android Podcast Platforms for

The post MB Fund webinar: Cold War 2.0 appeared first on MacroBusiness.

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Renew Economy Friday, October 12, 2018 - 11:22 Source

Telstra's 68MW solar farm begins production, marking another big shift of Australian corporates choosing renewables to lock in low prices.

The post Telstra’s first solar farm up and running as other projects join the grid appeared first on RenewEconomy.

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MacroBusiness Friday, October 12, 2018 - 11:15 Source

Mark this one down as hoocoodanode: Couldn’t have happened to a nicer firm. Crash: It’s only the beginning…

The post Domain slain as it warns appeared first on MacroBusiness.

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MacroBusiness Friday, October 12, 2018 - 11:12 Source

AUD is still strong this morning, partly explained by a falling USD and partly by bullet-proof bulks: Aussie bonds have actually under-performed other nations during the correction. I assume it’s because of the bullet-proof bulks but whatever it is it’s badly misled as the housing crash gathers steam: XJO is down modestly against today: But

The post ASX rout resumes: Houses demolished, holes boom appeared first on MacroBusiness.

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The Australian Independent Media Network Friday, October 12, 2018 - 11:10 Source

Scott Morrison et al keep telling us that we need a strong economy to make our lives better but this fixation on growth and profit at all costs is doing a great deal of harm to the vast majority who do not occupy the airy heights of the 1 per centers. Last year 3128 people…

The post The ‘economy’ is killing us appeared first on The AIM Network.

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MacroBusiness Friday, October 12, 2018 - 11:00 Source

By Leith van Onselen Over the past two years, various reports have emerged documenting the billions in taxpayer funds that have flowed to consultants, especially the Big Four accounting firms. In September 2016, Michael West reported how the Big Four accounting firms had taken corporate welfare to an extraordinary level, earning up at least $2.6

The post The “stupendous” consultancy spend milking taxpayers appeared first on MacroBusiness.

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xkcd.com Friday, October 12, 2018 - 11:00 Source

I don't trust mantle/core geologists because I suspect that, if they ever get a chance to peel away the Earth's crust, they'll do it in a heartbeat.

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MacroBusiness Friday, October 12, 2018 - 10:45 Source

By Leith van Onselen In the wake of the union movement threatening to pull support from Labor at the next election after it agreed to support legislation to ratify the Trans-Pacific Partnership (TPP), Labor is also facing growing opposition within its own ranks. The administrative committee of Labor’s Queensland branch has passed a motion that

The post Labor at war over TPP trade agreement appeared first on MacroBusiness.

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Renew Economy Friday, October 12, 2018 - 10:41 Source

The word's largest solar tower and storage is completing its final tests. Our correspondent was there to take a look at the solar future.

The post World’s biggest solar plus storage plant goes through final testing appeared first on RenewEconomy.

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MacroBusiness Friday, October 12, 2018 - 10:30 Source

By Leith van Onselen As the immigration debate has erupted this week, the ABC has once again revealed its shocking bias towards mass immigration and a ‘Big Australia’. On Wednesday, the ABC gave a key lobbyist for the ‘growth lobby’ – Chris Johnson from the Urban Taskforce – a free platform to spread mass immigration propaganda without engaging any

The post ABC’s immigration bias mushrooms appeared first on MacroBusiness.

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The Tally Room Friday, October 12, 2018 - 10:30 Source

When I produce seat guides, I always like to split up the polling places in the electorate into a number of subareas. I find that there are times where you want a sense of the different parts of the seat, but the granular detail of polling places can confuse the broader trends.

Sometimes these subareas represent very clear and distinct divisions in a community, while sometimes they’re more arbitrary. But I think my breakdown of Wentworth reflects some pretty strong differences within the seat which I think will play out on October 20.

I’ve divided this electorate into three areas:

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MacroBusiness Friday, October 12, 2018 - 10:15 Source

The free radical is back: I recorded this message for the people of Wentworth. We need to send a message on climate change. This time, don’t give the Liberals your vote. https://t.co/4Q3l2RIgpO #auspol #WentworthVotes — Alex Turnbull (@alexbhturnbull) October 11, 2018 Certainly freer than dad, at The Australian: “I disagree with Alex. His father disagrees

The post Alex Turnbull: Don’t vote Liberal appeared first on MacroBusiness.

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MacroBusiness Friday, October 12, 2018 - 10:00 Source

Peter Costello made a lot of sense yesterday for Libs: I was deputy leader of the Liberal Party for 14 years and I didn’t know that we had a right faction and a left faction and, if we did, nobody invited me to join either of them. One thing you could always unite the Liberal

The post Some wisdom from Peter Costello for both sides of politics appeared first on MacroBusiness.

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The Australian Independent Media Network Friday, October 12, 2018 - 09:55 Source

The Supreme Court in Britain has solved the conundrum of our age and we can all go back to watching the Block or the Bachelorette without the nagging worry about bakers and gay cakes : what a relief ! A judge of Britain’s Supreme Court has upheld an Appeal from a baker who refused to…

The post Would you like a Swastika with your Lamington Slice ? appeared first on The AIM Network.

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MacroBusiness Friday, October 12, 2018 - 09:30 Source

The AFR offers a useful debate about gas today, though is draws all the wrong conclusions as usual. Its editorial sets the tone under the title “Solution to energy crisis should fall back on the market”: Rather than heavy-handed resource intervention, the best response is to encourage more domestic supply. That means peeling back the

The post LNG imports must be stopped at all costs appeared first on MacroBusiness.

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MacroBusiness Friday, October 12, 2018 - 09:15 Source

Iron ore prices for October 11, 2018: Spot was down. Paper and steel firm. This market is bullet proof at the moment, supported by coking coal supply disruptions into Chinese stimulus. Fundamentals are not very good for demand over the next six months and that will dawn at some point but for now it’s all

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

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MacroBusiness Friday, October 12, 2018 - 09:00 Source

DXY was hit hard last night as Donald Trump attacked the Fed. EUR and CNY both jumped: AUD rallied a result: So did gold: But oil was smashed as US inventories keep building: Base metals were solid: So were miners: As the EM collapse goes on: Junk improved: Treasuries were bought: Bunds too: Not Italy:

The post Trump lifts Australian dollar as stocks smashed again appeared first on MacroBusiness.

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MacroBusiness Friday, October 12, 2018 - 08:45 Source

By Chris Becker Red October continued overnight but the falls on equity markets are abating somewhat at the 1-2% per session level with volatility decreasing from sky high levels, but confidence is still nowhere to be seen. The USD is weakening against all the majors now in response, as Treasury yields start to stabilise after

The post Macro Morning appeared first on MacroBusiness.

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Your Democracy Friday, October 12, 2018 - 07:08 Source

career

"To do nothing, to literally be a party with nothing to say, which is what some people are suggesting we should be, a party with no ideas is not the party I am prepared to lead."

                  Malcolm Turnbull

 

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Poll Bludger Friday, October 12, 2018 - 06:49 Source

No real change in the BludgerTrack poll aggregate this week, except that there is now a Morrison-versus-Shorten preferred prime minister trend in business.

The post BludgerTrack: 53.8-46.2 to Labor appeared first on The Poll Bludger.

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MacroBusiness Friday, October 12, 2018 - 05:57 Source

Says Professor Ross Garnaut at The Guardian: The crisis in Australia’s political system is less about the quality of individual politicians and more to do with the “majority media” and business lobby groups drowning out the independent centre for their own self-interest, distinguished economist, Prof Ross Garnaut has said. Garnaut, speaking during a panel discussion

The post Australia is not in “trouble”. “Australia” is dead. appeared first on MacroBusiness.

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MacroBusiness Friday, October 12, 2018 - 00:20 Source

By Leith van Onselen “Highrise” Harry Triguboff is a key player in Australia’s ‘growth lobby’ – the cabal of rent-seekers that benefits from ‘growth’, most visibly via mass immigration. For decades, Triguboff has actively lobbied Australia’s politicians to implement policies that are beneficial to his interests, including running a mass immigration program. The below interview

The post Triguboff: High immigration, stimulus, to prevent house price falls appeared first on MacroBusiness.

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MacroBusiness Friday, October 12, 2018 - 00:10 Source

By Leith van Onselen In the week ended 11 October 2018, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, declined another 0.18%: Values fell across all major markets: So far in 2018, home values have declined by 3.54%, with only Brisbane and Adelaide recording a value increase: Over

The post CoreLogic Weekly Australian house price update: Pass the popcorn appeared first on MacroBusiness.

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MacroBusiness Friday, October 12, 2018 - 00:01 Source

Global Macro / Markets / Investing: Trump Takes Swipe at Fed as Stocks Tumble – WSJ Trump says the Federal Reserve has ’gone crazy’ by continuing to raise interest rates – CNBC The Fed is undergoing a major change, and the market is having a fit – CNBC U.S. Stocks Plunge as Yield, Trade Worries

The post Links 12 October 2018 appeared first on MacroBusiness.

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The Australian Independent Media Network Thursday, October 11, 2018 - 20:34 Source

In order to give some substance to his claim that the Coalition are for lower taxes, Scott Morrison has chosen to bring forward by five years tax cuts already legislated for small and medium businesses.  To use his oft-repeated phrase, these are nothing new, they are ‘existing’ legislation, just fast-tracked for an election sweetener as…

The post Businesses need customers, not a feel-good few bucks a week appeared first on The AIM Network.

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Renew Economy Thursday, October 11, 2018 - 19:00 Source

Mazda says it will reduce tailpipe emissions from its vehicles by making use of an electrified and low emission rotary engine.

The post Mazda takes ‘unique’ approach to going electric appeared first on RenewEconomy.

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