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MacroBusiness Monday, June 1, 2020 - 14:00 Source

The NSW and VIC state governments have reportedly joined forces to axe stamp duties in favour of an annual land tax: Stamp duty would be gradually replaced by an annual land tax and home buyers could “opt in” to a new property system or receive a credit for past duties, under reform options for the

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MacroBusiness Monday, June 1, 2020 - 13:40 Source

SQM Research’s managing director, Louis Christopher, has doused hopes for an imminent rebound in the Australian property market: “It’s starting to look like it’s [auction clearance rates] topped out. If that is the case then what this reveals is that for now [it’s] a weaker market, a market that is very patchy”… “There’s not strong

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MacroBusiness Monday, June 1, 2020 - 13:20 Source

The ANZ’s head of retail and business banking, Mark Hand, suggests that 2021 will be a very difficult year for small businesses. Plank claims many small and medium enterprises will not recover from the COVID-19 crisis, even with loan deferrals from banks and wage subsidies from the federal government. He says the best move for

The post ANZ forecasts small business jobspocalypse appeared first on MacroBusiness.

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MacroBusiness Monday, June 1, 2020 - 13:00 Source

Via the excellent Damien Boey at Credit Suisse: US household saving rate at 33%! A lot happened in April. There was a very sharp downtun in the labour market, households received an enormous boost to disposable incomes from fiscal stimulus, and consumers significantly pared back their spending amid shutdown restrictions. The net balance of these forces

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Renew Economy Monday, June 1, 2020 - 12:56 Source

JinkoSolar has been ranked as a Top Performer for the sixth consecutive year in the 2020 PV Module Reliability Scorecard

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MacroBusiness Monday, June 1, 2020 - 12:40 Source

We argued previously that the NSW State Government had hit ‘peak stupid’ in deciding to spend $2.5 billion to demolish and rebuild the Olympic Stadium and the Sydney Football Stadium, both of which are underutilised. These stadiums were assessed to deliver zero net economic benefits for the state, according to analysis by hired gun KPMG. Moreover,

The post NSW Government dumps farcical Olympic Stadium redevelopment appeared first on MacroBusiness.

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MacroBusiness Monday, June 1, 2020 - 12:20 Source

Via APRA monthly banking numbers for April. Investor mortgages are still in retreat following last year’s major accident: The year on year shrinkage will not make seen again until June when we get twelve months from APRA’s portfolio rejig. But investor mortgages are falling across the big eight banks, and accelerated downwards in April: NAB

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Renew Economy Monday, June 1, 2020 - 12:13 Source

zoox sensorsAmazon looks to buy AV startup Zoox - backed by Australian billionaire Mike Cannon-Brookes - in move to cut delivery costs and put it in competition with Tesla.

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MacroBusiness Monday, June 1, 2020 - 12:00 Source

Deep! Via the Melbourne Institute monthly inflation indicator: Minus 1.2% for May and 0.1% year on year. If you’ve got a job with a stable salary and no assets then you’re getting richer.

The post Australia crashes into deflation appeared first on MacroBusiness.

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MacroBusiness Monday, June 1, 2020 - 11:40 Source

The Australian’s Stephen Lunn has penned an article calling for the Morrison Government to quickly resume the mass immigration ‘Big Australia’ policy at the earliest opportunity. The article features immigration extremist Chris Richardson from Deloitte Access Economics, an economist who has previously called for Australia to lift its already turbo-charged immigration intake. Let’s examine the

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MacroBusiness Monday, June 1, 2020 - 11:30 Source

From the Flying Circus today: New home buyers to get cash grants – housing bears shitting themselves https://t.co/dtZDY1uEyi — christopher joye (@cjoye) May 31, 2020 Guess who’s long bank hybrids then? I note that the housing package will be jobs supportive so that’s good for housing in a general sense. A few renos will do

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MacroBusiness Monday, June 1, 2020 - 11:20 Source

At least it’s honest about gutting the economy, via The Australian: The National COVID-19 Co-ordination Commission, chaired by former Dow Chemicals boss Andrew Liveris, recommended the federal government take immediate action to create an gas market that could deliver globally competitive results similar to the US with gas available at just $4 a gigajoule, more

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Your Democracy Monday, June 1, 2020 - 11:18 Source

zutbottbot   

In the light of the present general lockdown without mentioning its purpose we could ask a few questions regarding “free will” and a few philosophical attitudes, when faced by interferences such as war and diseases. 

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MacroBusiness Monday, June 1, 2020 - 11:17 Source

A new post-COVID high for the AUD this morning: Bonds are stable: XJO is soft with S&P futures: Big Iron is up and away: Big Gas is struggling to believe: As is Big Gold: Big Banks are undoing the surge: A Big Chunt struggles: Westpac’s fair value model has lifted a little but remains well

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