Blogotariat

Oz Blog News Commentary
The Australian Independent Media Network Monday, August 21, 2017 - 09:36 Source

There was a suggestion on ABCs Insiders yesterday Sunday that, due to the present chaotic state of government brought about primarily by Section 44 of the constitution, parliament should be prorogued. What does this mean? Prorogation of parliament simply means bring the current session to an end. It does not mean an election follows. Only…

The post Should Parliament be Prorogued? appeared first on The AIM Network.

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MacroBusiness Monday, August 21, 2017 - 09:34 Source

by Chris Becker There’s going to be a total solar eclipse across most of the continental United States today (well, their today, we’ll all be asleep) and given the uniqueness of the event, there’s been some hyperbowl and superbowl like reporting on it. This one takes the cake though. A consultancy firm reckons the eclipse

The post Eclipsing petty microeconomics appeared first on MacroBusiness.

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John Quiggin Monday, August 21, 2017 - 09:26 Source

Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please.

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En Passant Monday, August 21, 2017 - 09:23 Source


(Screen shot via @itvnews.)

Pauline Hanson cloaked her xenophobia in the cloth of liberating women, but taking her lead from Trump, her real aim is to unite the forces of fascism and white supremacy and build her electoral and social base.

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MacroBusiness Monday, August 21, 2017 - 09:21 Source

From Energy Minister Josh Frydenberg: It is not realistic to expect the return to $3-$4/gigajoule that Australians enjoyed less than a decade ago. The creation of an export market on the east coast means that our domestic prices are linked to those overseas, just as they are for other internationally traded commodities such as iron

The post Frydenberg claims success in pushing down energy costs appeared first on MacroBusiness.

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MacroBusiness Monday, August 21, 2017 - 09:07 Source

The post View from the pit appeared first on MacroBusiness.

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MacroBusiness Monday, August 21, 2017 - 08:43 Source

By Chris Becker  Volatility continues across risk markets, this time shifting from the North Korean tensions to the Trump tensions, namely the realisation that the Republican Congress ability to enact any meaningful legislation is evaporating. This has taken the floor out under US stocks, and the USD as a result as the key driver of bull

The post Macro Morning (Trading Week) appeared first on MacroBusiness.

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Your Democracy Monday, August 21, 2017 - 08:36 Source

 

jerry

Jerry Lewis, the comedian and filmmaker who was adored by many, disdained by others, but unquestionably a defining figure of American entertainment in the 20th century, died on Sunday morning at his home in Las Vegas. He was 91.

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North Coast Voices Monday, August 21, 2017 - 06:12 Source

Prior to entering the South Australian Parliament in March 2014 the then Liberal  now Independent Member for Mount Gambier, Troy Bell, was a teacher, online wine purveyor, restaurateur and manager of the Independent Learning Centre at Mt.

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MacroBusiness Monday, August 21, 2017 - 00:25 Source

Via Paul Kelly: When a parliament is discredited the presiding government usually pays a fatal price. The current parliament is discredited and dysfunctional on fiscal, legal and symbolic grounds, our democracy continues to be damaged and the decline in trust in our institutions is intensifying. Just as the Tony Abbott-led opposition in 2010-13 was pivotal

The post Canberra is now one giant control fraud appeared first on MacroBusiness.

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MacroBusiness Monday, August 21, 2017 - 00:20 Source

DXY fell Friday night: AUD was up against DMs: But down against EMs: Gold was up a bit: Brent roared as the US rig count fell: Base metals were mixed: EM stocks firmed: High yield was mixed: Big miners stable: US yield edged up: Not European: Stocks edged down: The White House conflict is over

The post White House sheds its nationalists appeared first on MacroBusiness.

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MacroBusiness Monday, August 21, 2017 - 00:20 Source

DXY fell Friday night: AUD was up against DMs: But down against EMs: Gold was up a bit: Brent roared as the US rig count fell: Base metals were mixed: EM stocks firmed: High yield was mixed: Big miners stable: US yield edged up: Not European: Stocks edged down: The White House conflict is over

The post Trump fires a fall guy, now what? appeared first on MacroBusiness.

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MacroBusiness Monday, August 21, 2017 - 00:20 Source

From Interest: The Labour Party’s rise and the Green Party’s fall from grace has been reflected in the second major poll since Jacinda Ardern and Metiria Turei’s diverging fortunes caught political attention in recent weeks. The latest 1 News Colmar Brunton poll alarmingly shows the Greens at 4.3% – below the 5% threshold needed to enter Parliament

The post NZ election boilover builds as housing and immigration turn tables appeared first on MacroBusiness.

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MacroBusiness Monday, August 21, 2017 - 00:19 Source

Via The New Daily: It is a sad state of affairs to realise that the current crop of Australian policy-makers have effectively given up on reducing unemployment. Treasury reckons that the lowest the unemployment rate can go without there being a wages and inflation breakout is around 5.25 per cent. The Reserve Bank of Australia

The post Kouk attacks immigration-led labour market appeared first on MacroBusiness.

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MacroBusiness Monday, August 21, 2017 - 00:18 Source

From Jess Irvine today: I remember attending an economics conference in Canberra in late 2011 where two esteemed Australian economists, Bob Gregory and Ross Garnaut, both warned Australian households to brace for a decline in living standards at the end of the mining boom. …In a 2012 paper, Gregory explained: “In peace time, and over

The post Irvine dines out on your shrinking wage appeared first on MacroBusiness.

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MacroBusiness Monday, August 21, 2017 - 00:16 Source

The Australian has the story to ruin household’s day: Peter Costello, chairman of the nation’s $130 billion Future Fund, has urged the Reserve Bank to lift interest rates now to avoid households’ taking on more debt, which he says is contributing to “massive imbalances” in the economy. The nation’s longest-serving treasurer also expressed concern that

The post Costello: Hike interest rates now appeared first on MacroBusiness.

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The Australian Independent Media Network Monday, August 21, 2017 - 00:16 Source

“Is ‘e an Aussie, Lizzie, is ‘e? Is ‘e an Aussie, Lizzie, eh?”, a catchy 1930s hit, could be the theme song of the entire 45th Parliament this week as three more MPs are exposed as dodgy double-dipping dual nationals under their Akubras, their RM Williams and their Drizabones. It’s like a masked ball. No-one…

The post Turnbull government loses plot in worst week of its life. appeared first on The AIM Network.

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North Coast Voices Monday, August 21, 2017 - 00:16 Source

This month in South Australia……ABC News, 17 August 2017:State Liberal MP for Mount Gambier Troy Bell has resigned from the party after being charged with stealing a substantial amount of taxpayers' money.Liberal Party state director Sascha Meldrum confirmed she had received and accepted Mr Bell's resignation on Thursday.The first-term MP intends to remain in Parliament and has released a statement saying he is "innocent of these allegations of theft and dishonesty and will defend them in court".Last week, Mr Bell was charged wi

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North Coast Voices Monday, August 21, 2017 - 00:16 Source

“North Korea best not make any more threats to the United States. They will be met with fire and fury like the world has never seen.

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MacroBusiness Monday, August 21, 2017 - 00:15 Source

Via Westpac: PulseAugust2017 ― Getting a precise fix on Australia’s housing markets remains tricky. Sentiment and lead indicators continue to point to a material slowdown and turnover is showing a renewed decline. However the picture around price growth is much less clear cut, with some moderation overall but trends varying greatly across capital cities –

The post Already time for more macroprudential? appeared first on MacroBusiness.

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North Coast Voices Monday, August 21, 2017 - 00:15 Source

The Guardian, 16 August 2017:A global mining giant seeking public funds to develop one of the world’s largest coal mines in Australia has been accused of fraudulently siphoning hundreds of millions of dollars of borrowed money into overseas tax havens.Indian conglomerate the Adani Group is expecting a legal decision in the “near future” in connection with allegations it inflated invoices for an electricity project in India to shift huge sums

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MacroBusiness Monday, August 21, 2017 - 00:10 Source

Via CoreLogic: Preliminary clearance rate increases to 71.7 per cent, while auction volumes remain steady This week across the combined capital cities, the preliminary auction clearance rate rose to 71.7 per cent, up from last week when the final clearance rate fell to 67.5 per cent. There were 2,041 capital city auctions this week, virtually

The post Auction clearances firm appeared first on MacroBusiness.

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MacroBusiness Monday, August 21, 2017 - 00:05 Source

Iron ore price charts for August 18, 2017:   Tianjin benchmark fell 60 cents to $75.10. Paper soared. Coking coal was stable. Thermal is in heaven. Chinese iron ore port stocks fell 1.8mt to 135.2mt. Do we have another bulk commodity shortage? Chinese steel mill stocks have been rising as port stocks fall so this

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

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MacroBusiness Monday, August 21, 2017 - 00:04 Source

Via AFR: The Chinese government has moved to halt “irrational” overseas investments by restricting purchases of real estate and entertainment assets, a decision which could dent demand for Australian assets. The move, designed to curb capital outflows and lessen downward pressure on the Chinese currency, also compels mainland companies to align themselves more closely with Beijing’s foreign

The post China formalises restricted capital outflow appeared first on MacroBusiness.

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MacroBusiness Monday, August 21, 2017 - 00:01 Source

Global Macro / Markets / Investing: US stock valuations have been inflated by The Fed – FT (in other news, water is wet) US exports gas to Europe and Russia aims to counter – WSJ Americas: Ousted Bannon promises to turn fire on White House – FT President Maduro strips Venezuelan parliament of power –

The post Links 21 August 2017 appeared first on MacroBusiness.

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Poll Bludger Sunday, August 20, 2017 - 21:38 Source

Newspoll breaks out of its 53-47 straitjacket to record a 54-46 lead for Labor, from primary vote of Coalition 35% (down one), Labor 38% (up two), Greens 9% (down two) and One Nation 9% (up one). Leadership ratings also record substantial change for the first time a while, with Malcolm Turnbull down three on approval to 35% and up five on disapproval to 55%, and Bill Shorten down two to 34% and up three to 54%. Malcolm Turnbull leads 43-33 as preferred prime minister, down from 46-31 last time. The poll was conducted from a sample of 1675 from Thursday to Sunday.

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John Quiggin Sunday, August 20, 2017 - 17:45 Source

I’ve seen quite a number of church leaders making statements in support of a No response to the Turnbull government’s ABS survey on equal marriage. In nearly every case, there isn’t much of an argument on the merits of why the state should enforce their views about marriage. Rather, they express concerns that, if equal marriage is allowed, they will be forced to conduct marriages, or to employ members of same-sex married couples.

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The Australian Independent Media Network Sunday, August 20, 2017 - 16:25 Source

By Ad astra A year or two ago, how many would have known what the word algorithm meant? Now it is a word in common use. It crops up whenever automation or artificial intelligence is mentioned. The term ‘automation’ once conjured up images of robots doing manual tasks; now it encompasses intellectual or cognitive tasks…

The post Are algorithms ruling your world? appeared first on The AIM Network.

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Your Democracy Sunday, August 20, 2017 - 15:06 Source

cricket

This cartoon of a woman cricketer by Minns, published in 1885 at The Bulletin, shows a certain amusing sexism. Sports cartoons in these days illustrated:

— the cost of professional Aussie Rule players looking more at the cash to be made than keeping their eyes on the ball, 

— the unruly crowds and players leading to a lot of injuries,

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Your Democracy Sunday, August 20, 2017 - 14:48 Source

another pom

Influential crossbench senator Nick Xenophon has announced he will refer his election to the High Court after discovering he has a form of British citizenship.

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