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The Australian Independent Media Network Wednesday, September 22, 2021 - 13:48 Source

It began just after a news interview. Time: a quarter past nine. Morning of September 22, and yet to take a sip from the brewed Turkish coffee, its light thin surface foam inviting. The Australian city of Melbourne in its sixth lockdown, its residents fatigued and ravaged by regulations. Rising COVID-19 numbers, seemingly inexorable. Then,…

The post Melbourne Quake: Shaken, Not Stirred appeared first on The AIM Network.

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The Australian Independent Media Network Wednesday, September 22, 2021 - 13:45 Source

Perhaps we need to become a little atavistic now and turn Australia, if not the whole world into a 5th Century BCE Athens, into a place where our soul goes to a theatre to be cured of all its traumas, of all its infirmities. Athens of that era did that once a year. She went…

The post Nuclear Subs? Time to get Atavistic! appeared first on The AIM Network.

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MacroBusiness Wednesday, September 22, 2021 - 13:40 Source

At around 9am this morning, Melbourne was hit with a magnitude 6.0 earthquake – quite large and uncommon for Australia, which sits on a tectonic plate. I was busy writing up an article when suddenly my computer and desk started to shake and I heard a noise that sounded like a washing machine spin cycle.

The post Pictures of Melbourne’s earthquake appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 22, 2021 - 13:20 Source

The June quarter national accounts showed that Australian households were flush with savings, accumulating a whopping $162.5 billion of household income in the year to June 2021 – double the previous peak of $80.5 billion saved by households in 2015: Commonwealth Bank estimates that household savings will swell to $230 billion by the end of

The post Aussie household savings balloon to $230b appeared first on MacroBusiness.

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The Australian Independent Media Network Wednesday, September 22, 2021 - 13:04 Source

Make no mistake. The apparent diplomatic debacle of the Franco/Australian submarine deal, did not erupt out of the deep oceanic blue. Look a little a closer and it is obvious this tectonic rupture in international trade is BREXIT writ large. And it bears the fingerprints of London-born former Australian prime minister Anthony John (Tony) Abbott,…

The post Tony Abbott and the dead hand of BREXIT appeared first on The AIM Network.

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MacroBusiness Wednesday, September 22, 2021 - 13:00 Source

Paul Monk via Sky: Former defence head of China analysis Paul Monk says Victorian Premier Daniel Andrews’ secret deal with China was part of the Chinese government’s strategy to operate in Australia “without federal oversight”. On Monday, the Victorian parliament forced the Andrews government to release the document detailing promises made with China, which had

The post Manchurian Dan’s dodgy deal with China exposed appeared first on MacroBusiness.

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Your Democracy Wednesday, September 22, 2021 - 12:45 Source

locksteplockstep

‘We’re in lockstep’: Biden hails Australia at meeting with Morrison

 

New York: US President Joe Biden has declared Australia is America’s closest and most reliable ally during his first one-on-one meeting with Prime Minister Scott Morrison.

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MacroBusiness Wednesday, September 22, 2021 - 12:40 Source

From Roy Morgan Research: In August 2021 Australians expected inflation of 4.3% annually over the next two years, up 0.2% points and the highest Inflation Expectations for nearly three years since November 2018. Inflation Expectations are now up 1.1% points since the pandemic low of 3.2% a year ago in August 2020. Inflation Expectations are

The post Aussie inflation expectations hit 3-year high appeared first on MacroBusiness.

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Renew Economy Wednesday, September 22, 2021 - 12:25 Source

New study says Australia is "ripe" for offshore wind, and could use its expertise to tap into floating platforms and

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Renew Economy Wednesday, September 22, 2021 - 12:21 Source

UK consumers are having to pay the cost of confused government policy, and this winter promises to be particularly challenging.

The post Gas price spike: How UK government failures made a global crisis worse appeared first on RenewEconomy.

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MacroBusiness Wednesday, September 22, 2021 - 12:20 Source

It is all well and good to keep a positive outlook on things but sometimes you just have to look out your window to know what’s really going on: Jiangsu — a Chinese province with an economy as large as Canada’s — is curbing electricity supplies to industry as Beijing pressures it to reduce energy

The post Butterflies everywhere flap energy into crisis appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 22, 2021 - 12:00 Source

Goldman with the note: House Speaker Pelosi and Senate Majority Leader Schumer have announced that they plan to move forward with legislation that ties an extension of government spending authority (a “continuing resolution”) with a suspension of the debt limit.  A vote in the House looks likely this week. Republican leaders have reiterated their opposition to

The post Goldman: Debt limit “collision course?” appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 22, 2021 - 11:40 Source

Ah yes, the crypto scam. The private money and shadow banking parasite leveraging off nothing. Now the ABC is a HODLer: Cryptocurrency is creeping into the mainstream but Australia’s laws have failed to keep up with the pace of growth, prompting calls from the industry for regulatory certainty. Michaela Juric, also know as Bitcoin Babe,

The post ABC outraged by limits on the crypto scam appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 22, 2021 - 11:40 Source

China Evergrande’s main unit Hengda Real Estate has clarified that it will make coupon payments for onshore bonds due tomorrow. And off the AUD goes: Big miners are ecstatic! Yields are up and copper is flying. The problem is, the only commodity that matters is puking all over the floor. Iron ore: Coconuts.

The post AUD rockets on Evergrande bond payment appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 22, 2021 - 11:15 Source

NSW Health has recorded another 1035 locally acquired COVID cases: NSW recorded 1,035 new locally acquired cases of COVID-19 in the 24 hours to 8pm last night. No new cases were acquired overseas, and 14 previously reported cases have been excluded following further investigation. pic.twitter.com/BceyAhm7um — NSW Health (@NSWHealth) September 22, 2021 The age breakdown

The post NSW records 1035 COVID cases, five deaths appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 22, 2021 - 11:00 Source

Below is Deloitte’s Weekly economic briefing, which assesses the prospects facing Australia’s retail sector. The latest issue of Deloitte Access Economics’ Retail Forecasts brings an all too familiar story for Australia where, in the September quarter, COVID-related restrictions have eaten away at the relatively solid start to the year. Lockdowns have been particularly hard for

The post Deloitte: Retail faces tepid COVID recovery appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 22, 2021 - 10:44 Source

Note from Westpac: The Leading Index has held up surprisingly well during this downturn but it seems likely that there is more weakness on the way. For example, while all components have contributed to the slowdown in growth since March, commodity prices and equities have been reasonably resilient. Developments in those markets in September are

The post Leading index plunges appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 22, 2021 - 10:40 Source

Shortening odds for the next Banking Royal Commission. UBS’s excellent George Tharenou: UBS mortgage survey implies material deterioration in Aussie loan standards UBS Evidence Lab surveyed ~900 Australians who took out a mortgage in the last year – conducted from 21 June to 5 July, at the start of lockdowns in over half of Australia

The post UBS: Liar loans boom as APRA looks on appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 22, 2021 - 10:20 Source

Silly old coot: Former prime minister Paul Keating has escalated his attack on the new AUKUS security partnership unveiled by the Morrison government, unleashing fury on his own side for supporting the deal and characterising it as the “surrender” of Australia’s control of its military. In a no-holds-barred statement, the former Labor leader said Prime

The post Paul Keating spits his AUKUS dummy appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 22, 2021 - 10:00 Source

Transparency International Australia (TIA) has lodged a submission to the Senate Inquiry into the adequacy and efficiency of Australia’s AML-CTF regime, which claims Australia property is a haven for money laundering: The FATF has said Australia is seen as an “attractive destination for foreign proceeds, particularly corruption-related proceeds flowing into real estate, from the Asia-Pacific”. Our

The post Australian property: a haven for money laundering criminals appeared first on MacroBusiness.

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xkcd.com Wednesday, September 22, 2021 - 10:00 Source

"The slope will be 74° at ground level." "Okay, I think we can hack together a  ... wait, why did they specify ground level? It's 74° everywhere, right? ... Oh no, there's a whole section in the treaty labeled 'curvature.'"

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MacroBusiness Wednesday, September 22, 2021 - 09:53 Source

Victoria has recorded another 628 COVID cases and three deaths: Reported yesterday: 628 new local cases and 0 cases acquired overseas. – 43,056 vaccines administered – 60,829 test results received – Sadly, 3 people with COVID-19 have died More later: https://t.co/OCCFTAtS1P#COVID19Vic #COVID19VicData pic.twitter.com/BI9ZhSm22a — VicGovDH (@VicGovDH) September 21, 2021 The next chart shows the rise

The post Victoria’s COVID outbreak spirals further out of control appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 22, 2021 - 09:38 Source

I just sat through it. First of my life. Thought the house was coming down: Expecting locusts to fly over the ridge any moment…

The post Plague, riots and now Melbourne has an earthquake appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 22, 2021 - 09:30 Source

TS Lombard has a crack: The path from last year’s growth slump back to economic normalization is becoming increasingly bumpy. On top of Xi Jinping’s “common prosperity” drive and crackdown on internet platform firms, Covid’s Delta variant and the impending fall of the property behemoth Evergrande are new upsets. Under China’s “zero-tolerance” policy on controlling

The post Evergrande contagion “contained so far” appeared first on MacroBusiness.

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Renew Economy Wednesday, September 22, 2021 - 09:05 Source

Edify wins planning approval for 1GW green hydrogen project, including large scale and behind the meter solar and storage, in new eco industrial precinct.

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THE BLOT REPORT Wednesday, September 22, 2021 - 09:01 Source

Former Attorney General, Christian Porter’s tribulations with regard to silencing the Australian Broadcasting Corporation’s Four Corners and Louise Milligan by attempting to sue them for defamation have been well documented1, but his latest self-inflicted wound also demonstrates the extraordinary hypocrisy of this government.

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MacroBusiness Wednesday, September 22, 2021 - 09:00 Source

Forex markets reversed last night as DXY eased but AUD fell. EUR was stable: The Australian dollar was weak across the board: Oil and gold firmed: But base metals struggled. Copper has formed a bearish descending triangle pattern. I expect it to follow iron ore in due course: Miners tried: EM stocks too: And junk

The post Australian dollar whacked as markets dead cat bounce appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 22, 2021 - 08:30 Source

Its pussy galore following the recent selloff’s on stock markets with dead cats bouncing all over the place overnight. Wall Street “steadied” by trying to recover the previous loss after a proper bounce on European equities as we head into the next FOMC meeting with Fed tapering fears still overwhelming risk sentiment. The USD was

The post Macro Morning appeared first on MacroBusiness.

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Cheeseburger Gothic Wednesday, September 22, 2021 - 07:04 Source

Cleaning out my notebook yesterday and came across this old LA Times bit about Big ‘L’ literature guy Ian McEwan helping his kid write a high school essay on a book by… Ian McEwan.

"Compelled to read his dad’s book — imagine. Poor guy," McEwan said. "I confess I did give him a tutorial and told him what he should consider."

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Your Democracy Wednesday, September 22, 2021 - 06:45 Source

stokerstoker

Ten days after Hurricane Ida hit Louisiana as a Category 4 storm, Wilkie Declouet, a former law enforcement officer, and lifelong resident of Ironton, posted photos to social media of coffins and tombs scattered around his neighborhood. 

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