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MacroBusiness Friday, August 18, 2017 - 09:04 Source

By Leith van Onselen The Australian’s David Uren has penned an article today supposedly exposing “Labor’s inequality lie”. Uren sites unpublished data from the Household Income and Labour Dynamics of Australia (HILDA) survey, which shows that the percentage of people who are not able to pay their rent or mortgage on time has fallen from

The post As usual, inequality apologists ignore wealth appeared first on MacroBusiness.

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MacroBusiness Friday, August 18, 2017 - 08:46 Source

Iron ore price charts for August 17: Tianjin benchmark rocked nearly 6% to $75.70. Paper calmed overnight. Steel lagged. Coals are pouring it on. This is a terms of trade bonanza for Australia right now.

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

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MacroBusiness Friday, August 18, 2017 - 08:32 Source

By Chris Becker   Markets ran for safe havens overnight in the wake of an awful terrorist attack in Spain and the realisation that yes, the US president is nuts and he’s not going anywhere or will get anything substantive done by a now impotent Republican Congress. And this is before Mueller’s investigation really gets

The post Macro Morning appeared first on MacroBusiness.

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Your Democracy Friday, August 18, 2017 - 08:22 Source

erasing the past

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MacroBusiness Friday, August 18, 2017 - 06:24 Source

DXY held small gains last night: The Aussie fell against DMs: And was mixed against EMs: Gold signaled more risk for USD weakness: Brent held on: Base metals unwound the hysteria a little: EM stocks took a hit: US high yield did too. EM was better: US yields fell sharply: Europe a little less: Stocks

The post Markets crumble as Trump’s neo-Nazi scandal threatens agenda appeared first on MacroBusiness.

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The Australian Independent Media Network Friday, August 18, 2017 - 06:00 Source

Friday 18 August 2017 Our nation is paralysed with indecision, party infighting and calamitous leadership. The government has no eye to the future, no narrative to guide us through a complex, rapidly changing world. They, after four years in power seemingly are unable to make decisions because each one determines the future of our Prime…

The post Day to Day Politics: Still struggling after four years. appeared first on The AIM Network.

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MacroBusiness Friday, August 18, 2017 - 04:48 Source

Via The Australian: Malcolm Turnbull is facing an ­escalating Labor attack over the ­stability of his government after a third cabinet minister owned up to being a dual citizen by descent, shocking observers with another test in the High Court that could reshape the ministry. Nationals deputy leader and Regional Affairs Minister Fiona Nash last

The post Turns out the Nats are all from somewhere else appeared first on MacroBusiness.

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Poll Bludger Friday, August 18, 2017 - 04:06 Source

Here’s BludgerTrack, updated with all of one data point from Essential Research. Labor is down a bit on two-party preferred but unchanged on the seat projection, with a loss in New South Wales balanced by a gain in Victoria. And that’s yer lot.

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MacroBusiness Friday, August 18, 2017 - 00:20 Source

By Leith van Onselen Wages and earnings growth data this week has revealed the widening gulf between public servants and private sector employees. First, Wednesday’s wages price index frevealed that private sector wages grew by only 1.78% in the year to June 2017, whereas public sector wages grew by 2.39%: Next, yesterday’s Average Weekly Earnings

The post Public servants take you to the cleaners in low wage Australia appeared first on MacroBusiness.

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MacroBusiness Friday, August 18, 2017 - 00:20 Source

By Leith van Onselen This week’s economic data has not been kind to Australia’s workers. Wednesday’s wages price index released by the ABS revealed that wages growth across the nation hit another all-time low 1.86%, with private sector workers (1.78% growth) faring much worse than their public sector counterparts (+2.39%): The news wasn’t much better

The post The full, ugly truth of households getting poorer appeared first on MacroBusiness.

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MacroBusiness Friday, August 18, 2017 - 00:20 Source

By Leith van Onselen Another week, another #SardineSydney story in the mainstream media on how the city’s population is swelling way above the capacity of its infrastructure. The latest example relates to Sydney’s long suffering trains, whereby skyrocketing passenger numbers are causing chronic crush-loading. From The Canberra Times: Passenger demand for trains in Sydney has

The post #SardineSydney’s trains reach bursting point appeared first on MacroBusiness.

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North Coast Voices Friday, August 18, 2017 - 00:16 Source

On the day Deputy Prime Minister and Leader of the National Party of Australia, Barnaby Joyce (seated at right rear), informed the House of Representatives that he holds dual Australian & New Zealand citizenship in contravention of s44 of the Australian Constitution……………

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North Coast Voices Friday, August 18, 2017 - 00:15 Source

https://youtu.be/P54sP0NlnggThe Sydney Morning Herald, 16 August 2017:He [President Trump] argued that both sides had been guilty of violence, he noted that the white supremacists indeed had a permit to protest, but the "other group" did not.

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MacroBusiness Friday, August 18, 2017 - 00:10 Source

By Leith van Onselen In the week ended 17 August 2017, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, rose by 0.41%: The rise in prices was driven by the two biggest capitals and Adelaide: So far in August home values have risen by 0.82%, with everywhere but

The post CoreLogic weekly Australian house price update appeared first on MacroBusiness.

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MacroBusiness Friday, August 18, 2017 - 00:10 Source

Via Reuters: The federal government is pushing ahead with its expansion of the anti-money laundering (AML) regime, with the financial intelligence agency AUSTRAC set to receive additional powers. The government unveiled changes to the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 yesterday, which will also bring digital currency providers within the AML regime. Michael Keenan,

The post Anti-laundering law fast-tracked to crypto as property washes on appeared first on MacroBusiness.

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MacroBusiness Friday, August 18, 2017 - 00:08 Source

By Leith van Onselen Yesterday’s ABS labour force release for July revealed some better news for those aged 15 to 24 years old that are looking for a job. Although the trend headline unemployment rate rose from 12.95% in June to 12.97%: Total employment growth for those aged 15-24 years of age has turned positive:

The post Youth employment markets shows some green shoots appeared first on MacroBusiness.

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MacroBusiness Friday, August 18, 2017 - 00:04 Source

Charlene Chu at Autonomous Research is making waves at the FT today: Corporate investigator Violet Ho never put a lot of faith in the bad loan numbers reported by China’s banks: crisscrossing provinces from Shandong to Xinjiang, she’s seen too much – from the shell game of moving assets between affiliated companies to disguise the true

The post The Chinese slowdown is coming appeared first on MacroBusiness.

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MacroBusiness Friday, August 18, 2017 - 00:03 Source

From the NOAA: The globally averaged temperature over land and ocean surfaces for July 2017 was the second highest for the month of July in the NOAA global temperature dataset record, which dates back 138-years to 1880. The year-to-date global temperature was also second warmest on record. This monthly summary, developed by scientists at NOAA’s

The post Earth swelters appeared first on MacroBusiness.

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MacroBusiness Friday, August 18, 2017 - 00:01 Source

Global Macro / Markets / Investing: Over $9tn of bonds trade with negative yields – FT Libor-tracking investments hit U.S. exchanges; complexity a worry – Apple News Sam Zell on Global Growth: “Where’s the Demand?” – CFA Institute Billionaire Richard Branson weighs in on free cash handouts—there’s a ‘real danger’ tech will replace jobs –

The post Links 18 August 2017 appeared first on MacroBusiness.

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Political Owl Thursday, August 17, 2017 - 20:44 Source

I have been pottering along for a while now on my recollections of 50 plus years observing and playing politics. One day I might even end up with a flimsy document that people think worth reading. Whatever. One of the things that intrigues me is the way that the kind of people who have become federal politicians has changed since I came to Canberra in 1966 and today.That's a subject that two former Prime Ministers - Bob Hawke and John Howard - touched on at an event at the old Parliament House this week.

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Your Democracy Thursday, August 17, 2017 - 17:17 Source

a ponzi scheme ...

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John Quiggin Thursday, August 17, 2017 - 17:05 Source

A crucial part of the case for the Adani coal project is the “pit to plug” strategy in which companies in the Adani Group would mine coal in the Galilee Basin, transport it by rail to Abbot Point, ship it from there to India, burn it in Adani Power’s coal-fired power stations and sell the generated electricity to Indian consumers. This claim is important to Adani for three reasons

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AustralianPolitics.com Thursday, August 17, 2017 - 16:56 Source

Video of Senator Pauline Hanson's Senate burqa stunt.

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MacroBusiness Thursday, August 17, 2017 - 16:19 Source

by Chris Becker A very mixed day in Asia after what looked like a good lead overnight from risk markets, with response to the dovish Fed minutes muted by resumed Korean tensions and a burgeoning Yen. Stocks were down across most of the region. Commodities were the highlight with oil rebounded a little, while industrial

The post Macro Afternoon appeared first on MacroBusiness.

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Renew Economy Thursday, August 17, 2017 - 15:18 Source

Ford of Europe has linked up with Deutsche Post to build a larger version of the electric truck DHL designed itself last year.

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Renew Economy Thursday, August 17, 2017 - 15:04 Source

Clean Energy Finance Corporation makes two new investments in companies focused on one of the easiest ways to reduce consumer power bills.

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MacroBusiness Thursday, August 17, 2017 - 14:58 Source

Bloody Pauline: One Nation Senator Pauline Hanson arrived in Senate question time dressed in a burka, a form of Islamic dress with a face covering. …“In light of the national security of this nation will you work to ban the burka in Australia,” she asked Attorney-General George Brandis. Senator Brandis said: “No”. Earlier someone in

The post Bloody Pauline mocks burqua in Parliament appeared first on MacroBusiness.

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Club Troppo Thursday, August 17, 2017 - 14:56 Source

Image result for round the twistMany readers will have heard of Patricia Edgar who was a giant force in Australian cultural life from the 1970s. She more than anyone else was responsible for lifting the tone of children’s TV in Australia. In any event I was talking to her recently about the current woes of children’s TV and out of our conversation came a three part essay from Tricia the first part of which is below: Nicholas Gruen

Commercial Networks Versus Producers – Quotas for Children’s Television

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Prosper Australia Thursday, August 17, 2017 - 14:47 Source

Overseas buyers of Melbourne real estate have had to pay a Foreign Purchaser Additional Duty since mid-2015. The tax raised $133 million last year, according to official figures released to The Age under Freedom of Information. The newspaper tried to suggest this tax is intended to peel money off outsiders, “a significant money-spinner for the […]

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MacroBusiness Thursday, August 17, 2017 - 14:39 Source

Via The Guardian: White House chief strategist Steve Bannon has given an unusual interview in which he claimed there was no military solution for North Korea, the far right was a “collection of clowns” and the left’s focus on racism would allow him to “crush the Democrats”. Bannon, who has been called the mastermind behind Donald Trump’s nationalist

The post Bannon: US in “economic war” with China appeared first on MacroBusiness.

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