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Oz Blog News Commentary
The Australian Independent Media Network Friday, November 19, 2021 - 15:27 Source

The role of the parliamentarian, historically, is one of service. The desire to hold two jobs, or more, suggests that such service is severely qualified. In the quotient of democracy and representation, the MP who is ready to tend to the affairs of others is unlikely to focus on the voter. I represent you, but…

The post Britain’s Two Job Politicians appeared first on The AIM Network.

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Renew Economy Friday, November 19, 2021 - 15:21 Source

 Canva.

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Renew Economy Friday, November 19, 2021 - 14:48 Source

Secretary to the Treasury Dr Steven Kennedy during Senate Estimates.</body></html>

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Renew Economy Friday, November 19, 2021 - 14:30 Source

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MacroBusiness Friday, November 19, 2021 - 14:30 Source

Australia’s auction market continues to fatigue after weeks of high listings. Last weekend’s final auction clearance rate was 73.0%, up slightly from 73.0% the prior weekend off 3539 auctions (up from 3,292 the prior weekend): As noted by CoreLogic: With capital city auction volumes in excess of 3,000 for the fourth consecutive week, last week

The post Auction deluge floods property market appeared first on MacroBusiness.

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MacroBusiness Friday, November 19, 2021 - 14:00 Source

Queensland Tourism Industry Council CEO Daniel Gschwind says there are 3,500 vacancies in the state’s tourism sector, including 1,200 for chefs. He says there are not enough Australians to fill job vacancies and demands a visa migration program to solve the problem: Chefs and cooks are included on the federal government’s priority migration list of

The post Why can’t Australia train enough cooks and chefs? appeared first on MacroBusiness.

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Renew Economy Friday, November 19, 2021 - 13:31 Source

wind farm and battery

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MacroBusiness Friday, November 19, 2021 - 13:30 Source

We have a right to know what Lord Jabba got up to on Tatooine: Nationals MP George Christensen made a secret submission to the information watchdog as part of an effort to block the release of details about a police probe into his Philippines travel, days after saying the document falsely accused him of a

The post What did Lord Jabba do on Tatooine? appeared first on MacroBusiness.

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MacroBusiness Friday, November 19, 2021 - 13:00 Source

The Morrison Government may abandon or delay plans to table legislation in the Senate to establish a federal anti-corruption commission. The government had been hoping that the Senate would send the bill to a committee that might not report back until 2022, which may not leave enough time for Parliament to debate the bill before

The post Federal ICAC bill in doubt amid Senate chaos appeared first on MacroBusiness.

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THE BLOT REPORT Friday, November 19, 2021 - 12:46 Source
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MacroBusiness Friday, November 19, 2021 - 12:30 Source

Property buyer demand remains red hot across Australia. The latest PropTrack Housing Market Indicators Report shows that average views per for sale listings were tracking at a record high in October – up 46% from the same time last year – with all markets booming: The preliminary weekly count of sold properties also reached their

The post Property supply is finally catching up with demand appeared first on MacroBusiness.

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Renew Economy Friday, November 19, 2021 - 12:14 Source

corowa solar farm

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MacroBusiness Friday, November 19, 2021 - 12:00 Source

The business lobby has hit back at Prime Minister Scott Morrison’s statement yesterday that he will delay rebooting immigration until after the upcoming election because he is concerned that it would suppress wage growth. Australian Chamber of Commerce & Industry (ACCI) CEO Andrew McKellar says the “reality” is that migration does not hurt wages growth.

The post The business lobby is lying to you about wages appeared first on MacroBusiness.

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Renew Economy Friday, November 19, 2021 - 11:55 Source

ANU researcher Dr Siva Karuturi.</body></html>

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MacroBusiness Friday, November 19, 2021 - 11:30 Source

More on the declining fortunes of Australia’s iron ore billionaires today. Gina Rinehart is basking in the glow of the last great iron ore boom: Roy Hill, in Western Australia’s Pilbara region and majority-owned by Mrs Rinehart’s Han­cock Prospecting, on Friday will announce a $4.4bn net profit for the year to June 30, double the

The post When all you have is shovel, everything looks like a hole appeared first on MacroBusiness.

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MacroBusiness Friday, November 19, 2021 - 11:00 Source

Realestate.com.au has published interesting data showing the rapid rise in stamp duty costs as property prices have inflated: “Buyers now are paying more in stamp duty as a proportion of their income than they were in the past,” [PropTrack economist Anne Flaherty said]. Grattan Institute economic policy program director Brendan Coates said average rates of

The post The rise and rise of property stamp duty appeared first on MacroBusiness.

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xkcd.com Friday, November 19, 2021 - 11:00 Source

Was this your car? [looping 'image loading' animation]

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Your Democracy Friday, November 19, 2021 - 10:38 Source

flushflush 

Meanwhile, in yesterday's Daily Poopograph, Andrew Bold had a go at Rudd and Turnbull United for trying to bring the Murdoch media down to earth. The rant starts with the heading and the sub-head:

 

"Hatred most foul — Turnbulls and Rudds engage in falsehoods in the name of pitiful revenge

 

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MacroBusiness Friday, November 19, 2021 - 10:30 Source

The New Zealand Treasury has released one of the most bizarre pieces of economic modelling I have ever seen: claiming that house price growth actually reduced inequality: The research “surprisingly” found a 10% increase in house prices decreases wealth inequality across the population. This is because the wealth of the wealthiest is mostly comprised of non-housing

The post Treasury: Soaring home prices reduces inequality! appeared first on MacroBusiness.

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MacroBusiness Friday, November 19, 2021 - 10:00 Source

ANZ economists have released research forecasting that Australia’s once-in-a-generation property boom will end in 2023, with price nationally tipped to fall 4%. However, this fall will follow price rises of 21% this year and 6% in 2022: First, ANZ notes that affordability is becoming stretched, which combined with macro-prudential mortgage restrictions and rising listings will

The post ANZ forecasts end of Australia’s property boom appeared first on MacroBusiness.

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MacroBusiness Friday, November 19, 2021 - 09:50 Source

Victoria has recorded another 1273 new locally acquired COVID cases and eight deaths: By comparison, NSW recorded only 216 new cases and three deaths: Daily cases n Victoria were the highest in eight days, whereas they are tracking sideways in NSW: Active cases continue to trend lower, however: Cases in hospital also continue to plunge:

The post Victorian COVID cases rise sharply appeared first on MacroBusiness.

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The Australian Independent Media Network Friday, November 19, 2021 - 09:37 Source

Apparently, the most pressing issues for this government to address are dealing with non-existent voter fraud and protecting religious organisations’ rights to bigotry. The fact that they didn’t have an emissions reduction “plan” until a couple of days before COP26 is neither here nor there.  They have important stuff to do like coming up with…

The post Morrison’s priorities say it all appeared first on The AIM Network.

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MacroBusiness Friday, November 19, 2021 - 09:30 Source

The ferrous complex was weak on November 18, 2022 as spot, paper and steel fell: Seaborne coking coal futures have now joined the broadening ferrous crash: Readers will know that my base case is ongoing heavy price falls in everything ferrous as China resumes its shuttered 120mt of EAF steel production that was suspended owing

The post Daily iron ore rice update (coking coal joins the crash) appeared first on MacroBusiness.

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MacroBusiness Friday, November 19, 2021 - 09:00 Source

The latest US initial weekly jobless claims buoyed risk taking on Wall Street which was almost able to get back to its previous highs while a stronger Euro took the sails out of European bourses which retreated across the continent. USD strength is waning temporarily after being extremely overbought following last week’s inflation print, although

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Friday, November 19, 2021 - 09:00 Source

The news on Evergrande and friends is still troubled today as potential rescues vie with contagion: Chinese property stocks fell as Evergrande agreed to dispose of a Hong Kong-listed business for the first time since its liquidity crisis began, while HengTen rallied. The deal, along with Country Garden Services Holdings Co.’s second share placement in

The post Evergrande ends China’s growth “catch-up” appeared first on MacroBusiness.

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Your Democracy Friday, November 19, 2021 - 08:40 Source

warren...warren...

Oh please, please… Warren, your cartoon yesterday in the Daily Telegraph is loaded with right-wing mischief, so I had to rectify it to bring a bit of middle-ground sense into it.  First your "head of whoever it is", possibly the Labor leader, does not look anything like Albo. I am sure you can do a better caricature of him if you tried.

 

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MacroBusiness Friday, November 19, 2021 - 07:45 Source

The DXY rocket flamed out last night as EUR rebounded: The AUD could not catch the thermal: Oil and gold did better: Base metals were mixed. They look very troubled by a rising DXY: Big miners are sick: EM stocks want to retest the lows: Junk did better: As yields calmed: Allowing, you guessed it,

The post Falling Australian dollar defies rising markets appeared first on MacroBusiness.

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MacroBusiness Friday, November 19, 2021 - 00:15 Source

The plethora of pro population Ponzi and foreign student articles making their way into the mainstream media has been marked this week by a pair of almost incoherent pieces at the ABC.  Leith took apart the population one earlier in the week, and Thursday saw one as mindbogglingly ill thought out about foreign students.  It

The post Does Australia owe foreign students a career in Australia? appeared first on MacroBusiness.

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MacroBusiness Friday, November 19, 2021 - 00:10 Source

The Grattan Institute is one of the nation’s biggest supporter of ‘Big Australia’ immigration, repeatedly spruiking the benefits of a strong migration program while ignoring the costs. With this background in mind, it was rather galling yesterday to read the CEO of the Grattan Institute, Danielle Wood, lament that younger Australian workers are struggling for

The post Young Aussie workers slaughtered by mass immigration appeared first on MacroBusiness.

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MacroBusiness Friday, November 19, 2021 - 00:10 Source

The Grattan Institute is one of the nation’s biggest supporters of ‘Big Australia’ immigration, repeatedly spruiking the benefits of a strong migration program while ignoring the costs. With this background in mind, it was unfortunate yesterday to read the CEO of the Grattan Institute, Danielle Wood, lament that younger Australian workers are struggling for job

The post Young Aussie workers pay the price of mass immigration appeared first on MacroBusiness.

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