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MacroBusiness Wednesday, December 13, 2017 - 09:44 Source

Phil Lowe just now: Introduction Good morning. Welcome to High Security Printing Asia 2017 and, for those who have travelled from overseas, welcome to Melbourne, Australia. I take this opportunity to also acknowledge the traditional custodians of the land on which we are gathered, the people of the Kulin nation, and, on behalf of everyone here, pay

The post RBA: Bitcoin/crypto “speculative mania” appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 13, 2017 - 09:40 Source

Via Martin North: The UK Property Investment Market could be a leading indicator of what is ahead for our market. But in the UK just 15% of all mortgages are for investment purposes (Buy-to-let), compared with ~35% in Australia.  Yet, in a down turn, the Bank of England says investment property owners are four times

The post Specufestors 4x more likely to default than owner-occupiers appeared first on MacroBusiness.

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politicalowl Wednesday, December 13, 2017 - 09:27 Source

How much debt do we need? My answer: 70% of GDP - Roger Farmer's Economic Window

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Renew Economy Wednesday, December 13, 2017 - 09:23 Source

The Andrews Labor Government today opened the third ro und of the New Energy Jobs Fund for new energy technology projects to encourage the up take of renewable energy and reduce emissions.

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MacroBusiness Wednesday, December 13, 2017 - 09:20 Source

Some months ago, FTAlphaville’s Izzy Kaminska wrote the following: Once upon a time, eurodollars were dollar-like liabilities issued by non-US entities outside of the reach of regulations that usually govern dollar-issuing entities. No minimum reserve requirements, no access to lender of last resort and no registration applied. Most of the time the assets which underpinned

The post Bitcoin’s heart of darkness exposed appeared first on MacroBusiness.

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The Australian Independent Media Network Wednesday, December 13, 2017 - 09:09 Source

The trouble with most Prime Ministers is that you have to be a psychopath in order to make it into the Lodge. Let’s not forget that even though psychopaths lack empathy, they can be superficially charming in order to achieve their goals. Characteristics of a psychopath include such things as a grandiose sense of self-worth…

The post Bob Hawke Is A Martian and Merry Christmas, Mr Turnbull! appeared first on The AIM Network.

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MacroBusiness Wednesday, December 13, 2017 - 09:00 Source

By Chris Becker Another record high for US stocks, although the NASDAQ retreated ever so slightly, as the USD lifted and Treasuries sold off slightly sending the 10 year yield back up to the “uncle point” of 2.4% before the Fed Meeting starts. Both major economic releases came in on target in Europe overnight with UK

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 13, 2017 - 09:00 Source

By Gareth Aird, senior economist at CBA: Key Points: GDP growth has lifted in 2017 and the labour market has tightened. Our base case has these trends continuing over the next two years, but there are a number of downside risks. The ability of monetary policy to support the economy in the event of a

The post What are the key risks facing the Australian economy? appeared first on MacroBusiness.

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The Australian Independent Media Network Wednesday, December 13, 2017 - 08:57 Source

When President Trump announced that he would acknowledge Jerusalem as the capital of Israel he did it to appease the Christians in America. Or, more precisely, the big money Evangelical donors. This is not a good development. The real problem with the current meddling in the affairs of the middle-east is not so much that…

The post I thought we worked all this out during the Enlightenment? appeared first on The AIM Network.

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Your Democracy Wednesday, December 13, 2017 - 08:54 Source

leunig

From Leunig (1976, Nation Review)...

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MacroBusiness Wednesday, December 13, 2017 - 06:05 Source

DXY is off and running as we await the Fed: Weirdly, so is the AUD! Technical no doubt: It crushed EMs: Even though gold sagged: Brent sagged: Though base metals lifted: Big miners didn’t: Nor did EM stocks and they will keep falling if DXY runs: Junk held on: Treasuries were sold: And bunds: With

The post Boring! New record highs for stocks appeared first on MacroBusiness.

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The Australian Independent Media Network Wednesday, December 13, 2017 - 06:00 Source

Wednesday 12 December 2017 What immediately follows is a response to my post on this day 12 months ago; “How to become a better government”. Following it are some of my quotations that convey my feelings about his comments. I then continue with my theme of idealistic thought for the past few days. Harquebus December…

The post Day to Day Politics: But for ideas we would be nothing. appeared first on The AIM Network.

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MacroBusiness Wednesday, December 13, 2017 - 04:25 Source

Via the ABC: With Dastayari gone the air is clear for a look elsewhere and it ain’t pretty, via the ABC: Federal Liberals insist it is not as politically damaging for them to have received donations from Chinese businessman Huang Xiangmo as it is for Labor’s Sam Dastyari. Senator Dastyari resigned on Tuesday because of continued

The post Cormann, Pyne, Bishop, Sukkar, Porter members of Huang Dynasty appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 13, 2017 - 00:25 Source

Of course this is just speculation but I fear it will happen. Bitcoin is the first ever global pyramid scheme and bubble. It is cloaked in all kinds of balderdash to hide the simple fact that it is a completely worthless private currency that belongs in the nineteenth century. But that’s going to take some time

The post Bitcoin is going to blow up the global economy appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 13, 2017 - 00:25 Source

Thar she blows: At least with a tulip you get to plant the bulb again next year and you a get pretty flower. Bitcoin is the first ever global pyramid scheme and bubble. It is cloaked in all kinds of balderdash to hide the simple fact that it is a completely worthless private currency that belongs

The post Bitcoin surpasses tulip bubble appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 13, 2017 - 00:24 Source

From Morgan Stanley today: We see the RBA firmly on hold in 2018 as the headwinds from a consumer crunch and evolution of a housing slowdown prevent Australia from joining the global tightening bias to monetary policy. The lack of carry for the Australian dollar makes rates differentials and rate expectations much more important in driving near term

The post Morgan Stanley top trade for 2018: Sell Australian dollar appeared first on MacroBusiness.

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Digitopoly Wednesday, December 13, 2017 - 00:22 Source

Mainstream writers do not discuss online sex and porn for fear of touching unseen landmines that offend readers. It is part of a phenomenon that I call the hush-hush norm. There are permeable boundaries between rebellious and mainstream hackers, and between porn and mainstream content providers. Yet, the mainstream press discusses all of it as if sex and porn do not exist.

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MacroBusiness Wednesday, December 13, 2017 - 00:20 Source

By Leith van Onselen Yesterday’s September quarter property data from the ABS includes a series showing the total number of dwellings in each state. Although this series only dates back to September 2011, it is arguably the best data to use when assessing actual dwelling supply, since unlike the ABS’ various quarterly housing construction data

The post More evidence record dwelling construction hasn’t outrun population ponzi appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 13, 2017 - 00:18 Source

By Leith van Onselen SQM Research has released its rental vacancy series for November, which revealed a 0.1% rise in the national vacancy rate over the month but a 0.3% decline over the year: Over the year, decreases in vacancies were recorded in Melbourne (-0.2%), Brisbane (-0.2%), Perth (-0.7%), Adelaide (-0.4%), Hobart (-0.3%), Darwin (-0.7%),

The post Weak rental market confirms Sydney’s housing downturn appeared first on MacroBusiness.

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North Coast Voices Wednesday, December 13, 2017 - 00:16 Source

“Perpetrators – Individual responsibility 40. On the basis of the brief factual outline provided above, there are a number of persons who have, or would have had whilst elected, knowledge of the relevant facts outlined in the elements detailed below, and played a considerable role in the implementation and enforcement of the Immigration Policies.

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MacroBusiness Wednesday, December 13, 2017 - 00:15 Source

He’s dead on arrival: Retailer euphoria over Amazon’s less than spectacular Australian launch is fading fast as trading conditions deteriorate in the lead-up to Christmas. As foot traffic in shopping centres declines and consumers cut back on discretionary purchases, retailers have been forced to pull forward discounting to compete against Amazon and lure cash-strapped shoppers. According to a Citigroup report, sales conditions

The post Bad Santa dead on arrival appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 13, 2017 - 00:15 Source

By Leith van Onselen I have argued repeatedly that one of the key reasons why Australia’s high population growth (immigration) is lowering the living standards of existing residents is because of the strain that it places on infrastructure, which inevitably leads to more congestion on roads, public transport, as well as more expensive housing. Basic

The post Ponzi Pallas’ West Gate Tunnel to cost $1 billion more appeared first on MacroBusiness.

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North Coast Voices Wednesday, December 13, 2017 - 00:15 Source

“They were there in an attempt to survey a pipeline to convey coal seam gas from gas giant Santos’s proposed Narrabri gas field.

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MacroBusiness Wednesday, December 13, 2017 - 00:06 Source

Via the ACCC today: This is the second interim report of the Australian Competition and Consumer Commission’s (ACCC) inquiry (‘the Inquiry’) into gas supply arrangements in Australia. The ACCC is focussing on the operation of the East Coast Gas Market, where there are continuing immediate and longer-term concerns. In the September 2017 report, the ACCC

The post ACCC: Gas cartel still gougin’ (and it’ll get worse) appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 13, 2017 - 00:05 Source

Iron ore price charts for December 12, 2017 Tianjin up 60 cents to $69.60. Nothing new. Could do anything over the next few months.

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

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MacroBusiness Wednesday, December 13, 2017 - 00:01 Source

Global Macro / Markets / Investing: With markets going crypto-crazy, SEC chairman weighs in – Tech Crunch Who’s Afraid of Bitcoin? The Futures Traders Going Short – WSJ ETFs shattered their growth records in 2017 – Apple News Bitcoin Futures Set Scene for More Gambling – NY Times Will Robots Take Our Children’s Jobs? –

The post Links 13 December 2017 appeared first on MacroBusiness.

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The Australian Independent Media Network Tuesday, December 12, 2017 - 16:39 Source

With the hounding down of Sam Dastyari today we saw the reality of a new political low in Australian culture. We witnessed for the first time in our political history the mainstream media (MSM) take control of political agenda and with the least assistance possible from the political opponents of the ALP, hunt down and…

The post The Law appeared first on The AIM Network.

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MacroBusiness Tuesday, December 12, 2017 - 16:30 Source

by Chris Becker A lack of trading volume as risk markets hesitate before the dual ECB/Fed meeting this week saw most Asian stock markets retreat slightly today, with currency markets also relatively stable. Oil prices gained a little, particularly Brent crude, but overall a calm before the storm. In mainland China the Shanghai Composite has given back

The post Macro Afternoon appeared first on MacroBusiness.

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Renew Economy Tuesday, December 12, 2017 - 15:25 Source

Australian researchers who unboiled an egg are turning their focus to making a more efficient alternative to lithium-ion batteries.

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Renew Economy Tuesday, December 12, 2017 - 15:07 Source

Malcolm Turnbull now appears perfectly comfortable parroting right wing nonsense about energy policy, branding high renewable policies as "idiocy" and defending the future of coal. That may be because mainstream media won't challenge him.

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