Blogotariat

A Higher Sanctimony - The Wall Street Journal, USA

Via the ABC: AMP’s chief executive officer Craig Meller has quit his job with immediate effect after a series of scandals were revealed at the banking royal commission. The resignation was accompanied by an unreserved apology from AMP to its customers. More heads will roll. My question is should the Treasurer Scott Morrison also resign?

The post Should Scott Morrison resign over royal commission? appeared first on MacroBusiness.

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Via Moody’s: Who to Blame for the Flattening Yield Curve The U.S. economy is humming along, but we believe that the economy will weaken and likely fall into recession sometime in 2020 as the boost from the fiscal stimulus fades. There is considerable uncertainty in the timing of the next recession, but the U.S. bond

The post When will the US lead us into the next recession? appeared first on MacroBusiness.

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The first thing I did when I became a secondary school principal many years ago was to put the school’s prefects in blazers and ties. The school was losing enrolments and needed to improve its profile; prefects were put in the vanguard of our efforts to win back a critical mass of aspirant families. The second thing was to invite Sydney University educationalist David Smith to speak to the staff. Even then, David was ahead of his time, delivering a telling critique of what he saw as outdated industrial-era schooling and a strong case for more personalised learning.

By Leith van Onselen Professor Peter Whiteford has penned an article in The Conversation questioning the notion that Australia’s Millennial generation are really worse-off than their parents: …millennials might be feeling a little hard done by, but Australians aged from 25 to 34 have actually enjoyed increases in their incomes compared to the population average.

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Via The Atlantic: Once upon a time, there was a city so dazzling and kaleidoscopic, so braided and water-rimmed, that it was often compared to a single living body. It clustered around a glimmering emerald spine, which astronauts could glimpse from orbit. It hid warm nooks and crannies, each a nursery for new life. It

The post Half of the Great Barrier Reef is dead appeared first on MacroBusiness.

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By Leith van Onselen Yesterday, Fairfax published an alarming report warning that Melbournians will have an extra five hours of peak our traffic congestion by 2030 as rapid population growth continues to overrun the city’s infrastructure: Drivers could spend 20 per cent more time sitting in traffic as congestion significantly worsens over the next 12

The post You can’t love mass immigration and hate costly infrastructure appeared first on MacroBusiness.

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Recent reports by Grattan Institute and the Reserve Bank of Australia have argued that zoning is a significant cause of Australia’s high home prices. Yet neither organisation has applied the appropriate economic theory to the property market, leading to conclusions that are almost the complete opposite of reality. The main issue in property is that the static equilibrium assumptions

The post Delay or Develop? What determines the rate of new housing supply appeared first on MacroBusiness.

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DXY climbed last night: AUD was clubbed: Gold fell: Oil too: Base metals flamed out: Big miners were mixed: EM stocks fell: Junk too: Treasuries were killed but the curve steepened for once: Bunds the same: Stocks pulled back: US data was decent with a good Pilly Fed and solid Fed Beige Book. The US

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Bitcoin has been touted as the go-to for criminals in their illegal activities, such as money laundering, but Quebec Chief Scientist Rémi Quirion says that claim is blown out of proportion. Earlier this year, International Monetary Fund chief Christine Lagarde said […]

The post Bitcoin money laundering claims largely overblown says Quebec chief scientist appeared first on The Global Mail.

Suppose you buy the idea popular in psychology that there are stable personality types largely formed in childhood and that the population has relatively stable proportions of these personality types. The Big5 personality types are agreeableness, extraversion, neuroticism, conscientiousness and openness. Often added to this list is Locus of Control. Other traits like analytical ability, empathy, and shyness are also often mentioned in the many lists of personality doing the rounds.

Karen Maley is livid: Commissioner Kenneth Hayne will need the wisdom of Solomon as he tackles what is fast becoming the most critical issue in the financial sector: how to prevent the $1.6 trillion that Australians have salted away in superannuation savings from being pillaged by unscrupulous financial advisers. More: A group of planners from

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Remember When Australian Prime Minister and former merchant banker Malcolm Bligh Turnbull ruled out a bankig royal commission?Telling the nation; "I can tell you wehave as a government decided not to have a royal commission, we made thedecision a long time ago, not because we don't believe there is nothing goingon in terms of problems with the banks, it is because we want to take actionright now and we are".Recall the time and other limits placed on the