Blogotariat

Oz Blog News Commentary
Digitopoly Monday, December 18, 2017 - 03:13 Source

Bitcoin uses energy. Lots of energy. It does this because as an incentive to ‘run the network,’ the Bitcoin protocol sets up a proof of work mechanism whereby to certify a block on the blockchain you need to win a computational contest. The great news is that this is a contest that everyone can have a chance of winning. Back in the olden days (circa 2009), that reward was 50 bitcoins and that added up to about 15 cents. These days the reward is 12.5 bitcoins or about $250,000.

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Poll Bludger Monday, December 18, 2017 - 02:29 Source

Relief for Malcolm Turnbull from Bennelong, but none from Newspoll, which records yet another stable result.

The post Newspoll: 53-47 to Labor appeared first on The Poll Bludger.

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MacroBusiness Monday, December 18, 2017 - 00:30 Source

Exclusively from Gerard Minack Australia seems set for another year of desultory growth, avoiding a statistical recession but experiencing per capita pain. Weak wages and a fading contribution from housing are now headwinds. Improved corporate sentiment suggests some upside risk to this scenario, but the most likely outcome is unchanged monetary policy, moderate A$ declines

The post Special Report: Gerard Minack on Australia’s per capita economic slump appeared first on MacroBusiness.

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MacroBusiness Monday, December 18, 2017 - 00:25 Source

By Leith van Onselen The Victorian Budget Update was released on Friday, which was largely another big spending, big taxing affair. In his Media Release, Treasurer Tim (“Ponzi”) Pallas spruiked Victoria’s booming economic conditions, which has led to an upgraded projected surplus of $1.7 billion in 2017-18, with estimated surpluses averaging $2.2 billion over the

The post Ponzi Pallas spins wildly as VIC Budget rides the bubble appeared first on MacroBusiness.

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MacroBusiness Monday, December 18, 2017 - 00:20 Source

DXY rebounded firmly Friday night as Trump tax reform is go: Australian dollar pulled back: EM forex took off: AUD CFTC speculative positioning lifted slightly to 41k last week, still moderately long: Gold held: Brent too: US rigs fell a bit last week but a new rush is coming: Base metals soared on growth hopes:

The post The Australian dollar smash of 2018 appeared first on MacroBusiness.

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MacroBusiness Monday, December 18, 2017 - 00:20 Source

Weeoo, weeoo, weeoo. The Pascometer is burning red on his new Chinese overlords: All this stuff about Sam Dastyari – but what about poor Huang Xiangmo? Bloke turns up here, observes how business has been traditionally done, pulls out the cheque book and finds himself painted as a cross between Karla and Blofeld with a touch

The post Pascometer burns red on his new Chinese overlords appeared first on MacroBusiness.

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MacroBusiness Monday, December 18, 2017 - 00:18 Source

For all you monetary anarchists out there, the world’s leading monetary anarchist just destroyed your new “currency”.

The post Steve Keen destroys Bitcoin appeared first on MacroBusiness.

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North Coast Voices Monday, December 18, 2017 - 00:16 Source

Then Australian Labour Prime Minister Julia Gillard announced her intention to call a royal commission into child sexual abuse on 12 November 2012.By 11 January 2013 six commissioners had been appointed and on 3 April 2013 the first of fifty-seven public hearings was underway.These public hearings conducted 57 case studies, 30 of which examined responses to child sexual abuse in religious institutions.The Royal Commission into Institutional Responses to Child Sexua

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North Coast Voices Monday, December 18, 2017 - 00:15 Source

Is it any wonder reading this that the Australian Government was finally compelled to call  a royal commission into banks and banking practices commencing in 2018.ABC News, 14 December 2017:The Commonwealth Bank's ongoing woes around alleged systematic money laundering operations by criminal gangs and terrorists have deepened, with fresh claims the contraventions are continuing

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MacroBusiness Monday, December 18, 2017 - 00:10 Source

CoreLogic released its auction report yesterday, which reported a small rise in the preliminary national auction clearance rate to 64.2% from 63.1% last weekend, but remained well below the 68.3% recorded in the same weekend last year: Auction volumes nationally were 2,865 – slightly above the 2,735 recorded in the same weekend last year: As

The post Auction clearances still weak appeared first on MacroBusiness.

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MacroBusiness Monday, December 18, 2017 - 00:05 Source

Iron ore price charts for December 15, 2017: Spot up. No need to adjust the TV, paper was limit up Friday night courtesy of a Trump tax frenzy. Steel is stuck. Most importantly, port stocks continue to climb, up another 900k tonnes to another all-time record at 142.6mt. This is the key driver of prices

The post Daily iron ore price update (the hoard builds) appeared first on MacroBusiness.

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MacroBusiness Monday, December 18, 2017 - 00:01 Source

Global Macro / Markets / Investing: Dreaming You Can Get the Returns of Stocks Without the Risk? Dream On – WSJ The economics of the Bitcoin payment system – VOX Bitcoin futures are about to get another big boost – CNBC John Griffin to Shut Blue Ridge Capital Hedge Fund After 21 Years – Bloomberg

The post Links 18 December 2017 appeared first on MacroBusiness.

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The Australian Independent Media Network Sunday, December 17, 2017 - 23:26 Source

“The horrible thing about the Two Minutes Hate was not that one was obliged to act a part, but, on the contrary, that it was impossible to avoid joining in.” George Orwell, 1984 Nothing in our politics excites such primitive passions than a public shaming of a traitor – and his expulsion from our virtuous…

The post Turnbull’s Yellow Peril 2.0 is the panda in the room. appeared first on The AIM Network.

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Your Democracy Sunday, December 17, 2017 - 21:03 Source

 

mueller gets some emails...mueller gets some emails...

read more

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oecomuse Sunday, December 17, 2017 - 18:52 Source

The gargantuan Royal Commission into Institutional Responses to Child Sexual Abuse has come to a close. Its scale is almost impossible to comprehend: more than 1.2 million documents; testimony from over 8,000 people; a 21-volume final report; more than 400 recommendations.

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