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MacroBusiness Monday, December 11, 2017 - 00:28 Source

Australia’s last journalist standing, Adele Ferguson, has done it again: Gold Coast-based RFG is the country’s biggest food franchise operator, whose brands include Donut King, Brumby’s, Gloria Jean’s, Pizza Capers, Crust Gourmet Pizzas and Michel’s Patisserie. It has a market capitalisation of about $800 million and claims to have more than 2500 stores. Since listing on the ASX

The post Abuses pile upon Australia’s coolie army appeared first on MacroBusiness.

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MacroBusiness Monday, December 11, 2017 - 00:27 Source

Treasury released a large and very good study Friday: On a variety of measures, wage growth is low. Regional mining areas have experienced faster wage growth, but wage growth has slowed in both mining and non-mining regions. Wage growth has been fairly similar across capital cities and regional areas, although the level of wages is

The post Why wages aren’t growing (and aren’t going to) appeared first on MacroBusiness.

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MacroBusiness Monday, December 11, 2017 - 00:26 Source

By Leith van Onselen The latest Roy Morgan Research (RMR) unemployment estimate for November registered a 0.3% increase in the unemployment rate over the month and the key figure is a 0.6% increase over the year, with underemployment also rising: Below are the key points from the release: The workforce is 13,174,000, up 128,000 on

The post Roy Morgan unemployment rises to 9.8% in November appeared first on MacroBusiness.

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MacroBusiness Monday, December 11, 2017 - 00:26 Source

Via The Australian: ASIO has identified about 10 ­political candidates at state and local government elections whom it believes have close ties to Chinese intelligence services, in what sec­urity officials assess as a deliberate strategy by Beijing to wield influence through Australian politics. Days after the Turnbull ­government unveiled a package of measures aimed at

The post ASIO: Manchurian candidates infiltrating elections appeared first on MacroBusiness.

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MacroBusiness Monday, December 11, 2017 - 00:20 Source

Via Bill Evans at Westpac: Both the Reserve Bank and Treasury will be disturbed by the details behind the September quarter national accounts which printed on December 6. The accounts showed that the Australian economy expanded by a less than expected 0.6% in the September quarter to deliver an annual growth rate of 2.8%. We

The post Bill Evans: Consumer tapped-out appeared first on MacroBusiness.

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MacroBusiness Monday, December 11, 2017 - 00:20 Source

It’s an eternal story of greed and loss: By the middle of the first decade of the twenty-first century, the psychology of the boom was well established. After multiple years of strong growth and rising asset values, risks seem to diminish in financial markets. The gambler has thrown the dice a number of times, and

The post How the Bitcoin pyramid bubble will proceed appeared first on MacroBusiness.

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MacroBusiness Monday, December 11, 2017 - 00:20 Source

The pyramid scheme can always collapse very easily because it relies exclusively upon finding ever greater numbers of fools to keep it rising in price. Usually that’s represented as a pyramid with ever greater numbers required at the base as it grows. But, in truth, it should be represented as in inverted pyramid with ever

The post Bitcoin is sub-prime currency appeared first on MacroBusiness.

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North Coast Voices Monday, December 11, 2017 - 00:16 Source

Indian multinational, the family-owned Adani Group, appears to have financed its Queensland mining venture with debt. The book value of Adani Enterprises' Carmichael mine project was just under US$2.3bn by mid-2017.

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MacroBusiness Monday, December 11, 2017 - 00:15 Source

DXY was firm Friday night: AUD just hung onto 75 cents: And was weak against EMs: AUD CFTC speculative positions rose slightly to still moderately long at 40k: Gold was soft: Brent was strong as US rigs added just two. The lag between price and rollout is three-four months. More are coming: Base metals were

The post Goldilocks US jobs send stocks to new highs appeared first on MacroBusiness.

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North Coast Voices Monday, December 11, 2017 - 00:15 Source

Nothing like receiving bad news in the lead up to the festive season......News.com.au, 6 December 2017:CONTROVERSIAL plans to drug test unemployed welfare recipients will be suspended indefinitely after the Senate refused to endorse the idea.The Turnbull government had hoped to drug test 5000 Newstart and Youth Allowance recipients across three trial sites in NSW, Queensland and Western Australia from January.But Social Services Minister Christian Porter indicated this morning provisions for the pilot will be stripped from an omnibus welfare bill and dealt with separately, so other measures can be signed o

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MacroBusiness Monday, December 11, 2017 - 00:10 Source

CoreLogic released its auction report yesterday, which reported a small fall in the preliminary national auction clearance rate to 63.1% from 63.5% last weekend, and remained well below the 71.6% recorded in the same weekend last year: Auction volumes nationally were 3,353 – slightly above the 3,432 recorded in the same weekend last year: As

The post Sydney’s auction clearance rate in free fall appeared first on MacroBusiness.

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MacroBusiness Monday, December 11, 2017 - 00:06 Source

From the AFR: AGL Energy has rejected Turnbull government pressure to extend the life of the coal-fired Liddell power station and instead revealed a $1.36 billion plan to replace it with electricity generated from gas, wind, solar and other supply. In a blunt rebuff of Canberra’s request for the 45-year-old Hunter Valley plant to be either sold

The post AGL plans endless energy shock appeared first on MacroBusiness.

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MacroBusiness Monday, December 11, 2017 - 00:05 Source

Iron ore price charts for December 8, 2017: Tianjin benchmark lifted $2 to $68.40. Everything is still firm. We could easily see another spike ahead.

The post Daily iron ore price update (not over) appeared first on MacroBusiness.

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MacroBusiness Monday, December 11, 2017 - 00:04 Source

Chinese inflation was out over the weekend with the CPI at 1.7% and PPI falling back 5.8%: The CPI is quite contained with inflation in services and deflation in food: The PPI’s narrow commodity inflation persists: Still all coal, oil, metals, chemicals…

The post China’s narrow commodity inflation persists appeared first on MacroBusiness.

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MacroBusiness Monday, December 11, 2017 - 00:01 Source

Global Macro / Markets / Investing: Bitcoin Futures Promise Wild Ride for Risk-Loving Traders – WSJ The battle in AI – The Economist Enron 2.0? ECB, Global Banks On The Hook For $21 Billion In Steinhoff Implosion – Zero Hedge Bitcoin mining ’is causing electricity blackouts’ – Mail Online Bitcoin Billionaire Winklevoss Sees Surge of

The post Links 11 December 2017 appeared first on MacroBusiness.

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The Australian Independent Media Network Sunday, December 10, 2017 - 23:40 Source

Loud hosannas resound in Canberra. Hallelujah. Could it be the joyous news that Harry and Meghan Markle will grace us with their royal presence at a charity polo match in Marvellous Melbourne early next year? Or is it Dotard Trump’s Middle East diplomatic masterstroke? Swayed by Zionist lobbyists and fat-cat Republican donors’ demands he moves…

The post A double agent in the house? It’s the least of our worries. appeared first on The AIM Network.

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The Australian Independent Media Network Sunday, December 10, 2017 - 19:51 Source

Normally around this time of the year over at The Political Sword we write an article that discusses some of the themes and issues that we looked at through the year that has nearly finished. In 2017, we’re going to do something different. You may remember in March this year, we announced with great sorrow…

The post Watch this space in 2017 – Redux appeared first on The AIM Network.

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Peter Martin Sunday, December 10, 2017 - 19:41 Source

How on earth could same-sex marriage deliver 10 years' worth of economic benefits? And why on earth do 18 of Australia's leading economists expect it to?

The experts were surveyed this week by the Economic Society of Australia. Thirty answered this question: "Will changing the law to allow same-sex couples to marry generate net economic benefits for the nation as a whole over the next 10 years?"

Eighteen thought it would. Only seven thought it would not.

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oecomuse Sunday, December 10, 2017 - 18:12 Source

Nobody with ears could mistake the words of recently re-elected Nationals Party leader Barnaby Joyce for stirring speechmaking. But in a close run thing, the indulgent nonsense from Prime Minister Malcolm Turnbull, when the House of Representatives eventually reconvened to debate marriage equality, was the bigger oratorical mess.

Joyce first. The footage of his breathlessly anticipated return to Canberra shows Barnaby muddling through a poorly-conceived and grossly misleading analogy on eligibility for the national parliament.

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Inside Story Sunday, December 10, 2017 - 17:38 Source

In the current environment, Labor’s win in Queensland is unusual. It is the first time a Labor state or federal government has been re-elected unequivocally anywhere in Australia since Anna Bligh’s historic breakthrough in March 2009. Are the times shifting Labor’s way? Or is this, as Malcolm Turnbull tells us, a result peculiar to Queensland?

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Renew Economy Sunday, December 10, 2017 - 16:03 Source

China-Australia renewable energy firm lands PPA with AGL for construction of 300MW of large scale solar - the biggest contract so far in Australia.

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North Coast Voices Sunday, December 10, 2017 - 15:20 Source

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Inside Story Sunday, December 10, 2017 - 15:19 Source

At first sight, the 11.6 per cent swing to the Greens at last month’s by-election in the Victorian seat of Northcote looked like a disaster for Labor. But it could have been worse — and last time Northcote voted, it was worse.

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Renew Economy Sunday, December 10, 2017 - 15:08 Source

AGL confirms plans to invest in 1.6GW of wind and solar, plus storage and other technologies, to replace the ageing coal clunker, Liddell, which it will close in 2022, much to the annoyance of the federal Coalition.

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The Australian Independent Media Network Sunday, December 10, 2017 - 12:12 Source

By Terence Mills The Prime Minister has called for a review of religious protections mainly, the cynical may say, to get the marriage equality legislation through without turning the Marriage Act into a version of War and Peace or more appropriately perhaps, the Ten Commandments. He outlined his reasons as being: “Any reforms to protect…

The post Protection of, or Protection from Religion appeared first on The AIM Network.

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Inside Story Sunday, December 10, 2017 - 11:13 Source

Given that Tony Abbott was scarcely a hard act to follow, Malcolm Turnbull should have enjoyed a protracted honeymoon in the top job. Of all Australia’s twenty-nine prime ministers, the stumbling, bumbling, inarticulate Abbott — long to be remembered for his “suppository” and shirtfront gaffes — is arguably the most inept of all, William McMahon notwithstanding.

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The Australian Independent Media Network Sunday, December 10, 2017 - 09:56 Source

People need to start thinking before they speak. For example, I heard someone say that the proposed company tax cuts were just to benefit Riupert Murdoch. That’s nearly as silly as Donald Trump’s suggestion that because Obama was such a bad president, it’ll be generations before we have another black president. Even if you accept…

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politicalowl Sunday, December 10, 2017 - 09:56 Source

While Malcom warns off the Chinese in pidgin mandarin, we in the suburbs continue to singalong while still offering a lychee branch of friendship.

From The Australian:

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The Australian Independent Media Network Sunday, December 10, 2017 - 09:30 Source

By Loz Lawrey I’ve been hearing terms such as “postmodernism”, “neo-marxism” and “the left” bandied about by right-wing commentators ever more frequently lately, so, in order to clarify my own understanding of the meaning of these verbal brickbats, I’ve been doing some googling. I’ve always thought of myself as a leftie, and proud of it. A…

The post Playing Chess With Pigeons appeared first on The AIM Network.

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Your Democracy Sunday, December 10, 2017 - 06:58 Source

fan one

Or is there another game afoot? Brian Wieser, senior research analyst at Pivotal Research Group, was as surprised as anyone by the Murdochs decision. “There are economies of scale in media,” he said, and the deal is easy to justify on that basis. But the Murdochs had always seemed more interested in legacy and influence than straight financial rationales for deals. “The rationale is less interesting than the catalyst,” he said.

 

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