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MacroBusiness Tuesday, December 12, 2017 - 13:54 Source

Via Barclays: We see AUD under-performance against G10 currencies. Australia’s growth and inflation are likely to remain subdued. Given its late-cycle position, secular adjustments in the commodity sector and downside risks to construction activity and investment. The AUD remains overvalued and its carry advantage over the USD is likely to continue to narrow, with the

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MacroBusiness Tuesday, December 12, 2017 - 13:40 Source

By Leith van Onselen In the wake of June’s Grenfell tower disaster in London, which claimed the lives of around 80 people, a special Victorian Taskforce interim report last week identified 1,400 buildings with flammable cladding, including eight hospitals. But rather than the Grenfell tower disaster prompting caution and vigilance, some Melbourne building operators have

The post Amid flammable high-rise, building operators turn off fire alarms appeared first on MacroBusiness.

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Harrangue Man Tuesday, December 12, 2017 - 13:04 Source

I had a scare this morning after I saw a streak of blood in the toilet following a motion. Knowing thewife has a better head for such things I texted to ask if I should get an exam but she said if the blood was bright it indicated an internal tear which happens sometimes to her. I went again later with no blood appearing.But after I saw the blood I feared another health contraction, where your world shrinks to just dealing with a health crisis and the rest of normality fades to background.

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MacroBusiness Tuesday, December 12, 2017 - 13:00 Source

By Leith van Onselen The Institute of Public Affairs (IPA) has proposed adopting a system of “competitive federalism”, whereby the states would be responsible for setting their own GST rate and retaining the revenue. IPA executive director John Roskam suggests that the states and territories could also be allowed to impose their own income taxes.

The post There’s merit in giving states greater taxing powers appeared first on MacroBusiness.

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Renew Economy Tuesday, December 12, 2017 - 12:50 Source

Commercial development of cheap, printable, Australian made perovskite solar cells boosted with $6m ARENA grant to Greatcell Solar.

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The Australian Independent Media Network Tuesday, December 12, 2017 - 12:45 Source

By Lauraine Knight Turnbull and his MPs have turned all their guns on Sam Dastyari and – aided by the mainstream media and the ABC – are producing a cacophony reminiscent of a 1950s “Reds under the Beds“ campaign, but totally ignoring the obvious influence the Chinese have on the LNP. Do they forget that…

The post Liars always shout and make wild accusations to deflect attention appeared first on The AIM Network.

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Renew Economy Tuesday, December 12, 2017 - 12:43 Source

AEMO relaxes limits on wind generation in South Australia as it continues to review system strength needs of the grid with the highest penetration of wind and solar in the world.

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Renew Economy Tuesday, December 12, 2017 - 12:43 Source

AEMO relaxes limits on wind generation in South Australia as it continues to review system strength needs of the grid with the highest penetration of wind and solar in the world.

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MacroBusiness Tuesday, December 12, 2017 - 12:35 Source

In what is becoming a regular feature of the local stock market, strong overnight leads from Europe and the US opened the bourse up but it faded through the morning: Big Iron is up on China’s rapidly easing credit growth. Go figure: Pensioner killing roars on: Big Gold is sinking at last: Big Sleazy is

The post ASX fails to launch again appeared first on MacroBusiness.

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MacroBusiness Tuesday, December 12, 2017 - 12:11 Source

By Leith van Onselen Australia’s speculator frenzy has continued to moderate, according to today’s Lending Finance data for October, released by the ABS. As shown below, the annual value of investor loans in New South Wales (read Sydney) continues to fall, whereas Victoria (read Melbourne) – the second hottest market – continues to rise slowly. By

The post Specufestors continue to pull back from Sydney’s housing bubble appeared first on MacroBusiness.

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Renew Economy Tuesday, December 12, 2017 - 11:59 Source

New Australian solar developer, Oriens Energy, announces plans for 80MW solar farm in Tamworth, with more projects in the pipeline.

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Renew Economy Tuesday, December 12, 2017 - 11:58 Source

Critics have argued renewable energies could come with high hidden greenhouse gas emissions that would negate their benefits to the climate. A new study shows the opposite is true.

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MacroBusiness Tuesday, December 12, 2017 - 11:50 Source

By Leith van Onselen The ABS has today released its property price index – incorporating both detached houses and units – which registered a 0.2% decline in home values nationally over the September quarter but an 8.3% gain over the year, a slowing from the 10.2% annual growth initially reported in the year to June:

The post ABS: Sydney drove property prices down in September quarter appeared first on MacroBusiness.

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Inside Story Tuesday, December 12, 2017 - 11:49 Source

“Suddenly I felt very weary and wished the whole affair to be taken off my hands.” A famous artist visiting a stately European city is garlanded with attention by familiar strangers and required to perform on cue, only for his uneasy vision to cloud and float amid the enveloping politesse. The setting of Kazuo Ishiguro’s dreamlike novel The Unconsoled (1995) might be seen as a wry portent of his role in Stockholm’s extravagant annual Nobel Week twenty-two years later.

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MacroBusiness Tuesday, December 12, 2017 - 11:46 Source

The dream is over for the NAB survey: Last month’s surprise spike in business conditions was more than unwound in November, although that was partly expected. Despite the drop, business conditions remain well above the long-run average and are at solid levels across most of the economy. Forward orders were stronger as well. The construction

The post NAB Business Survey crashes back to earth appeared first on MacroBusiness.

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MacroBusiness Tuesday, December 12, 2017 - 11:20 Source

What could possibly go wrong?

The post Folks take out mortgages to buy Bitcoin appeared first on MacroBusiness.

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Renew Economy Tuesday, December 12, 2017 - 11:11 Source

The recent upsurge in the price of Bitcoin seems to have finally awakened the world to the massively destructive environmental consequences of this bubble.

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MacroBusiness Tuesday, December 12, 2017 - 11:01 Source

Join Damien Klassen, David Llewellyn Smith and Tim Fuller as we cover off on the prospects and possibilities of global oil at 12.20 today. All welcome. Book Now

The post MB Fund webinar 12.30 today: The future of oil appeared first on MacroBusiness.

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MacroBusiness Tuesday, December 12, 2017 - 11:00 Source

Via the AFR today: Malcolm Turnbull says he has delivered on the promise he made when he deposed Tony Abbott that he would restore confidence, create jobs and boost economic growth. And he has reassured disillusioned voters that while some of the “very big distractions” of this year were not of his government’s making, they

The post Treasury sets up Black Hole Malcolm’s final humiliation appeared first on MacroBusiness.

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MacroBusiness Tuesday, December 12, 2017 - 10:54 Source

Via UBS: China’s crack down on pollution is a major driver for commodities As detailed in our note, we expect China’s focus on reducing air, land, and water pollution to be a major driver for commodities, and in turn mining stocks, both near and long-term. UBS Evidence Lab uses multiple sources to provide unique visibility

The post Chinese pollution crackdown working appeared first on MacroBusiness.

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Your Democracy Tuesday, December 12, 2017 - 10:48 Source

 

frugality

Chinese billionaire Huang Xiangmo paid $55,000 to have lunch with Bill Shorten in October 2015, documents uncovered by the ABC reveal.

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MacroBusiness Tuesday, December 12, 2017 - 10:46 Source

Via the ABC: Chinese billionaire Huang Xiangmo paid $55,000 to have lunch with Bill Shorten in October 2015, documents uncovered by the ABC reveal. The revelation comes as Mr Shorten faces pressure to expel senator Sam Dastyari from the Labor Party over his links to Mr Huang, who intelligence agencies warn is closely linked to the Chinese

The post Huang Dynasty engulfs Shorten as Dastayari goes appeared first on MacroBusiness.

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MacroBusiness Tuesday, December 12, 2017 - 10:40 Source

By Leith van Onselen Last night, the following question was asked on ABC’s Q&A, which garnered the above pathetic response from Prime Minister Malcolm Turnbull: POPULATION GROWTH BILL EDGE asked:Could you explain why you are allowing approximately 200,000 people to immigrate to this country every year & are there any plans to limit this intake

The post Turnbull bald-faced lies in Q&A mass immigration defence appeared first on MacroBusiness.

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Inside Story Tuesday, December 12, 2017 - 10:23 Source

The fifty-year effort to build security and community in Southeast Asia is a political and diplomatic marvel — perhaps even a geopolitical miracle. Instead of becoming East Asia’s version of the Balkans or the Middle East, the ten nations of the Association of Southeast Asian Nations, or ASEAN, have created an extraordinarily successful set of regional institutions. Only the European Union has done a bigger building job.

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MacroBusiness Tuesday, December 12, 2017 - 10:20 Source

By Leith van Onselen Janine Dixon and Nhi Tran, economists at the Centre of Policy Studies at Victoria University, have produced research warning that low-skilled workers across Australia risk being left behind, worsening inequality and eventually dragging on the economy. From The AFR: Modelling by Dr Dixon and Ms Tran shows the real (after inflation)

The post Low-skilled crushed between automation and mass immigration appeared first on MacroBusiness.

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The Tally Room Tuesday, December 12, 2017 - 10:15 Source

Last week, I posted data showing the Nick Xenophon Team vote at the 2016 Senate election broken down by state electorate.

In the process of completing my guide to the South Australian state election, I noticed the trend in terms of which seats popped up with very high NXT votes. It appeared that numerous safe Liberal seats ranked highly in terms of NXT vote, while the safer Labor seats ranked more lowly.

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MacroBusiness Tuesday, December 12, 2017 - 10:00 Source

Via The New Daily: The Bitcoin frenzy currently gripping the world is taking an unexpected toll on the planet – in the form of a carbon footprint almost as big as New Zealand’s. And with the cryptocurrency’s astronomical growth showing no sign of slowing, this carbon footprint is likely to grow – prompting some commentators to

The post If Bitcoin succeeds, the planet dies appeared first on MacroBusiness.

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MacroBusiness Tuesday, December 12, 2017 - 09:40 Source

From Beijing Bob (Carr) today: Sooner or later Canberra is going to decide to reset its relationship with Beijing. In one year, or in five. Here are seven things that can make it possible. One, drop the stridency. Joe Hockey referred last week to China threatening what Australians “fought and died for”. Two, on foreign donations,

The post Beijing Bob offers the Chinese olive branch appeared first on MacroBusiness.

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MacroBusiness Tuesday, December 12, 2017 - 09:30 Source

By Chris Becker Another not so unusual night on Wall Street with European stocks sluggish in anticipation of the ECB meeting later in the week, US stocks put in new record highs as tech and energy stocks lifted everything. Bitcoin went crazy again as futures trading began: Recapping real markets first in Asia yesterday where

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Tuesday, December 12, 2017 - 09:20 Source

So say we: Three quarters of voters say there is a need for democratic renewal in the form of a federal anti-corruption commission and a tougher code of conduct for MPs, as part of wider reforms that would also see a rejuvenated public sector return to service delivery. However, Prime Minister Malcolm Turnbull has played down

The post Time for a Federal anti-corruption watchdog appeared first on MacroBusiness.

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