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MacroBusiness Friday, September 24, 2021 - 09:00 Source

This is why you should never invest in China. There is no transparency. Evergrande has descended into an every rumour debacle in which interest now run the show as Beijing dithers. Zero Hedge wraps it nicely: Update (0810ET): Piling on to the chaotic swings in Evergrande, Bloomberg reports that the embattled property developer’s electric-car unit has missed

The post Evergrande turns every rumour appeared first on MacroBusiness.

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Cheeseburger Gothic Friday, September 24, 2021 - 08:26 Source

I’ll kick off as always with Ted Lasso because that’s what I have instead of therapy. But then I’m rocking the new golden age of sci fi. FOUNDATION drops today or tomorrow, depending on the international date line. I’ve got the darker, gnarlier S2 of SEE to endure, and I’ve been saving THE EXPANSE until I’m done with THE LAST KINGDOM on Netflix. TLK isn’t SF, of course, and its not fantasy either. More like historical action/drama I guess. But it’s been my long form watch for the last couple of weeks and I’ve enjoyed it bigly. So much so that I’m glad to have something to go to when I’m done.

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MacroBusiness Friday, September 24, 2021 - 07:37 Source

Forex is getting increasingly volatile. DXY is still trading near the top of its range but it couldn’t break out. EUR bounced: The Australian dollar took off on some easing in Evergrande fears: The energy shock is getting worse but real yields killed gold: Base metals did a bit better but copper was held back

The post Australian dollar launches with energy, yields appeared first on MacroBusiness.

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Your Democracy Friday, September 24, 2021 - 06:38 Source

occupyoccupy

This is only a quick foray into the backwards history of this corner of the planet. These are small portions chosen during which our Western leaders have shat on our lap — as seen by Gus Leonisky and John Richardson — in their own words or helped by borrowing the thoughts of heavy thinkers of the past few years…

 

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MacroBusiness Friday, September 24, 2021 - 00:10 Source

A few months back, the Credit Suisse Global Wealth Report declared Australian households the worlds richest thanks to their expensive property assets: Yesterday, the ABS has released its Finance and Wealth statistics for the June quarter, which revealed a record increase in household wealth on the back of the property boom: Total household wealth increased 5.8

The post Property boom drives record increase in household wealth appeared first on MacroBusiness.

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MacroBusiness Friday, September 24, 2021 - 00:05 Source

In the week ended 23 September, the CoreLogic daily dwelling values index increased another 0.29%: All major markets recorded rising values. Note, Perth’s daily index has been suspended while CoreLogic investigates anomalies: Values have so far risen by 1.03% this month, with all major markets rising: Quarterly price growth remains turbo-charged but slowing at 4.63%

The post CoreLogic weekly house price update: Melbourne slowing appeared first on MacroBusiness.

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MacroBusiness Friday, September 24, 2021 - 00:01 Source

Global Macro / Markets / Investing: Whether it’s homes or jobs, our dreams are moving further out of reach every year – The Guardian Federal Reserve holds interest rates steady, says tapering of bond buying coming ‘soon’ – CNBC Fed doubles daily counterparty limit for overnight reverse repos from $80 billion to $160 billion –

The post Links 24 September 2021 appeared first on MacroBusiness.

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The Australian Independent Media Network Thursday, September 23, 2021 - 19:00 Source

By Tess Lawrence   Porter reveals he has document signed by Kate! In her second excerpt on Scott Morrison’s Coercive Control of Women, Tess Lawrence doubles down on her treatise calling out Prime Minister Scott Morrison’s dangerous weak and duplicitous leadership. She asserts the continuous political assault and insult of women spills into his incompetency in…

The post Scott Morrison’s coercive control of women (part 2) appeared first on The AIM Network.

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MacroBusiness Thursday, September 23, 2021 - 17:00 Source

Asian equities are bouncing back following last night’s FOMC meeting, where the taper was confirmed but not brought forward as risk expectations and sentiment start to settle yet again, getting Wall Street out of its minor funk. The USD remains relatively firm against most of the risk currencies although gold is failing to find support

The post Macro Afternoon appeared first on MacroBusiness.

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Renew Economy Thursday, September 23, 2021 - 16:07 Source

Sun Cable expands to a solar project of up to 20GW and up to 42GWh of battery storage, as it gains approval from Indonesia for a sub-sea cable.

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Renew Economy Thursday, September 23, 2021 - 15:56 Source

mount piper power station bushfire - optimisedEnergyAustralia brings forward closure date for 1,400MW Mt Piper power station, as it commits to exit coal by 2040.

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Renew Economy Thursday, September 23, 2021 - 15:33 Source

The 209MW second stage of the Murra Warra wind farm in western Victoria is claiming rights to the larges

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Renew Economy Thursday, September 23, 2021 - 15:23 Source

tesla battery hornsdaleAnalysis: AER' owns guidelines say court actions should be focused on blatant, ongoing or serious disregard for the law. Is that Hornsdale?

The post AER sues Hornsdale battery: Fair cop or regulatory over-reach? appeared first on RenewEconomy.

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Renew Economy Thursday, September 23, 2021 - 15:17 Source

COAG energy council angus taylor 2019 aap - optimisedAngus Taylor to receive push back from energy ministers over contentious energy market reforms, as states and territories resist 'coalkeeper' plan.

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Cheeseburger Gothic Thursday, September 23, 2021 - 15:10 Source

About ten years ago, maybe more, I had to interview Lee Child on stage for the Melbourne Writers Festival. I did my homework, read about five of his books, wrote up a long list of questions and then some more questions in case he was less than generously wordacious in his responses. (Malcolm Knox once got caught on stage with Jonathan Franzen in a grunting one-word-answer mood and it is still whispered of among the scribbling class as one of the worst things that ever happened to anyone, ever.)

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Prosper Australia Thursday, September 23, 2021 - 15:07 Source

Renegade Economists Show 599 As broadcast on the 3CR airwaves 6 – 6.30pm on the fourth Wednesday of the month. Subscribe to the monthly podcast. Show Notes Tyson Yunkaporta, author of Sand Talk discusses his page turner in light of beer pong and nudie runs, complexity theory and strange attractors. We touch on aspects of […]

The post Tyson Yunkaporta: Phase Shifting Personal Development into Structural Reform first appeared on Prosper Australia.

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Renew Economy Thursday, September 23, 2021 - 15:03 Source

The Loy Yang A power station in Victoria's Latrobe Valley.The Victorian EPA and three coal power generators taken to court over alleged failures to regulate emissions, in key test of Victorian climate laws.

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Renew Economy Thursday, September 23, 2021 - 15:00 Source

There are many options to manage the energy transition that don’t involve capacity payments.

The post “Race to replace”: We need to tie new energy capacity with the exit of old generators appeared first on RenewEconomy.

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Renew Economy Thursday, September 23, 2021 - 14:46 Source

The 120MW Gangarri solar farm in Queensland overcomes a troubled construction history to produce its first signs of generation.

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The Australian Independent Media Network Thursday, September 23, 2021 - 14:43 Source

By David C. Paull   As recent foreign policy developments show, Australia has abandoned any notion of an independent defence policy to one of strategic offence as part of a new US-UK alliance, fulfilling a long-standing desire by the US for Australia to be a client state. A recent article published (June 2021) in the Australian…

The post The Hawke Files and the Birth of the 51st State appeared first on The AIM Network.

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MacroBusiness Thursday, September 23, 2021 - 14:30 Source

Victoria’s Auditor-General Andrew Greaves has revealed that the cost of 42 major infrastructure projects across the state has risen by $5.95 billion. His audit report shows that the cost of another 27 projects has fallen by a combined $1.04 billion. Greaves assessed some $99 billion worth of major projects in the report, which was tabled

The post Dan’s wasteland: Victorian project costs blowout by $6b appeared first on MacroBusiness.

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The Australian Independent Media Network Thursday, September 23, 2021 - 14:25 Source

By Sue Carrigan   Seriously, my head is about to explode. Never in my living memory have I had to witness the failings of a Prime Minister and his Coalition members as they lead a stunned populace headlong into what amounts to a shitstorm of catastrophic proportions. Let’s for a moment put aside the country’s current…

The post What does it take? appeared first on The AIM Network.

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Your Democracy Thursday, September 23, 2021 - 14:12 Source

godgod

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MacroBusiness Thursday, September 23, 2021 - 14:00 Source

Eleven years ago, then Treasury secretary Ken Henry released the Henry Tax review. The review was intended to guide tax system reforms over the next 10 to 20 years, but its recommendations were ignored by successive governments. Yesterday, Ken Henry criticised inaction from political leaders on tax reform, claiming the nation has been travelling in

The post 11 years on, Ken Henry lashes “parlous” tax system appeared first on MacroBusiness.

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MacroBusiness Thursday, September 23, 2021 - 13:40 Source

The Reserve Bank of New Zealand (RBNZ) today announced that it will tighten lending rules for mortgages from 1 November, but expects banks to comply with the “spirit” of the new rules immediately. Specifically, the new rules will see banks now restricted to just 10% of the new lending for mortgages that make up over

The post RBNZ tightens macro-prudential screws. RBA delays appeared first on MacroBusiness.

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MacroBusiness Thursday, September 23, 2021 - 13:20 Source

Housing industry lobbyists in Australia and abroad often claim that property-related taxes comprise a large and growing share of the price of new housing and are hence pushing up the market price of new and existing dwellings. Land taxes, stamp duties on property transactions, GST on value-added investments, and other fees and charges are generally

The post Explainer: Do taxes on property cause high house prices? No. appeared first on MacroBusiness.

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MacroBusiness Thursday, September 23, 2021 - 13:00 Source

The ABS has released fortnightly data on payroll jobs, which reveals that jobs have fallen: 1.3% in the fortnight up to 28 August 2021; and 0.4% in the previous fortnight (to 14 August 2021). As expected, falls have been driven by the lockdown jurisdictions of Victoria, NSW and the ACT: Specifically, the largest shares of

The post Casual workers bear brunt of lockdowns appeared first on MacroBusiness.

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Renew Economy Thursday, September 23, 2021 - 12:33 Source

nsw government EV policy budget announcement - aap - optimised

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MacroBusiness Thursday, September 23, 2021 - 12:30 Source

Note from Michael Pettis at Carnegie: Policymakers in Beijing are in a tough position on what to do about Evergrande, the Chinese property developer whose slow collapse has transfixed the markets. Evergrande is the most-indebted property developer in the world. Its on-balance-sheet liabilities amount to nearly 2 percent of China’s annual GDP, and its off-balance-sheet obligations add up to as much

The post Michael Pettis on Evergrande et al appeared first on MacroBusiness.

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MacroBusiness Thursday, September 23, 2021 - 12:10 Source

In today’s investment webinar, MB Fund’s Head of Investments Damien Klassen, and Senior Financial Advisor Mark Monteiro are joined by Private Debt specialist Jonathan Rochford of Narrow Road Capital, and Insolvency expert Barry Kogan of McGrathNicol to answer the question “where are all the broke companies” On the agenda: Companies Consumers Bankruptcies Insolvencies   

The post MB Fund Podcast: Where are all the broke companies? w/ Barry Kogan & Jonathan Rochford LIVE NOW appeared first on MacroBusiness.

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