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John Quiggin Friday, July 10, 2020 - 09:04 Source

The title of my book-in-progress, The Economic Consequences of the Pandemic is obviously meant as an allusion to Keynes’ The Economic Consequences of the Peace, and one of the central messages will be the need to resist austerity policies of the kind Keynes criticised in his major work, The General Theory of Employment Interest and Money. That title, in turn was an allusion to Einstein*, and the Special and General theories of Relativity.

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MacroBusiness Friday, July 10, 2020 - 09:00 Source

By Chris Becker  Risk sentiment continues to grow negative – outside of tech stocks – with Wall Street falling in response to the US Supreme Court ruling on the fraud-in-chief’s tax returns and the rising death toll and positive caseload from coronavirus. The USD firmed overnight as did bond yields, while only oil fell in

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Friday, July 10, 2020 - 07:45 Source

by Chris Becker Iron ore continued its surge yesterday with spot Tianjin prices up above the $107 barrier, while 12month futures gained, but shorter term prices slipped alongside rebar and coking coal. Here’s the table and latest charts: Iron ore imports to China have fallen to their lowest level since October 2016, according to Steelhome,

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

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MacroBusiness Friday, July 10, 2020 - 00:10 Source

Seems right for Friday.

The post Dan Andrews: Downfall appeared first on MacroBusiness.

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MacroBusiness Friday, July 10, 2020 - 00:05 Source

In yesterday’s press conference at Parliament House, Prime Minister Scott Morrison dismissed concerns around the crash in mortgage commitments, driven by investors: Below is the transcript, with my emphasis added in italics: Journalist: Home lending figures came out today. Huge plunge, double-digit plunge. This is a time with record low interest rates as well. We’ve

The post Scott Morrison: Mortgage collapse no cause for alarm appeared first on MacroBusiness.

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MacroBusiness Friday, July 10, 2020 - 00:04 Source

In the week ended 9 July 2020, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, fell another 0.13%: It was the ninth consecutive weekly decline. The falls were concentrated across the three major capitals: Quarterly dwelling value growth is negative, led by Melbourne: Annual price growth remains strong,

The post CoreLogic weekly house price update: Still sinking appeared first on MacroBusiness.

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MacroBusiness Friday, July 10, 2020 - 00:02 Source

As expected, a pilot scheme to fly international students into Australia has been officially abandoned: A plan for 350 international students to fly to Canberra to continue their studies at the end of July has been postponed due to the recent increase in COVID-19 cases in Australia… The University of Canberra and the Australian National

The post University chiefs tone deaf on international students appeared first on MacroBusiness.

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MacroBusiness Friday, July 10, 2020 - 00:01 Source

Global Macro / Markets / Investing: The Fed is reasonably cautious about controlling the yield curve – Economo The world emerges from the hegemony of the United States, but does not take its eyes off them – Economo Tesla mocks shortsellers with sale of red satin shorts – Reuters Global tourism stands to lose up

The post Links 10 July 2020 appeared first on MacroBusiness.

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Renew Economy Thursday, July 9, 2020 - 22:34 Source

Danish renewable power juggernaut inks record offtake deal with world’s largest semiconductor foundry and

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Renew Economy Thursday, July 9, 2020 - 21:57 Source

cybertruckObsession with 4WD vehicles is derailing gains from the switch to electric as the big car makers pursue profit and sacrifice emissions.

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Renew Economy Thursday, July 9, 2020 - 21:47 Source

Don Pattison lost his family home during the horrific fire season of 2019/20. But this is not a story of loss and grief. Rather, the destruction has set the context for the journey back.

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THE BLOT REPORT Thursday, July 9, 2020 - 20:34 Source
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THE BLOT REPORT Thursday, July 9, 2020 - 20:29 Source
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The Australian Independent Media Network Thursday, July 9, 2020 - 19:30 Source

By 2353NM   When Prime Minister Morrison was advised there was the risk of uncontrolled spread of a deadly pandemic on the horizon early this year, he was slightly wiser than at Christmas when he left a burning Australia in the ‘capable’ hands of Deputy Prime Minister and National Party Leader Michael McCormack. Morrison gathered the…

The post Information and critical thinking do matter appeared first on The AIM Network.

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MacroBusiness Thursday, July 9, 2020 - 16:30 Source

It’s all green again across Asian stock markets, and despite rising COVID-19 cases in Tokyo, Japanese authorities are looking to ease restrictions within the nation, boosting economic hopes, while locally the chance of further lockdowns has had no impact on the ASX200, at least for today. Meanwhile, gold continues to hold above $1800USD per ounce

The post Macro Afternoon appeared first on MacroBusiness.

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