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MacroBusiness Thursday, August 11, 2022 - 00:01 Source

Global Macro / Markets / Investing: Tesla’s next gigafactory might be in Canada – Tech Crunch Passed Inflation Reduction Act Cuts Tax Perks for Some EVs – Jalopnik The ‘Wage-Price’ Spiral Is a Symptom of Inflation, Not the Cause – Fee Climate change, scarcity chip away at degrowth taboo – Reuters Upcoming CPI Print Important

The post Links 11 August 2022 appeared first on MacroBusiness.

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Renew Economy Wednesday, August 10, 2022 - 22:30 Source

AEMO says it will lift a suspension of the entire National Electricity Market after supply pressures ease.c

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THE BLOT REPORT Wednesday, August 10, 2022 - 19:38 Source

By Harry Blutstein

The Network State, a new book by Balaji Srinivasan presents a new model of digital statehood run and managed in the cloud1. It’s all so simple. A group of people get together on the internet and decide that they’re going to start a country. They use a social network to connect them and create an identity, a leader to unite them, and a cryptocurrency to protect their assets. They even create their own laws, in which the newly-minted nationals agree to abide by. It’s all so simple.

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MacroBusiness Wednesday, August 10, 2022 - 17:00 Source

Asian stocks are in sell mode today as the poor lead from Wall Street overnight combined with the stronger USD sees risk sentiment sour, not helped by the German and US inflation prints coming in later tonight. The USD has pushed local currencies around again with the Australian dollar right on the mid 69 level

The post Macro Afternoon appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 10, 2022 - 16:01 Source

Following broader job ads: Plenty of downside ahead!

The post Skilled job ads top out appeared first on MacroBusiness.

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Renew Economy Wednesday, August 10, 2022 - 15:00 Source

hydrogen plug power

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Renew Economy Wednesday, August 10, 2022 - 14:05 Source

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MacroBusiness Wednesday, August 10, 2022 - 14:00 Source

Last week, Roy Morgan Research reported that Jacinda Ardern’s Labour Party had clawed its way back into contention for next year’s election, after New Zealand Opposition leader, Chris Luxon, lied about holidaying in Hawaii. As shown in the next chart, National’s primary vote tanked 4% in July, whereas Labour’s rebounded 0.5%, according to Roy Morgan:

The post Kiwis are fed up with Jacinda Ardern appeared first on MacroBusiness.

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Renew Economy Wednesday, August 10, 2022 - 14:00 Source

Snowy Hydro Tumut 3 pumped power station energy storage - M Mazengarb - optimised

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MacroBusiness Wednesday, August 10, 2022 - 13:30 Source

New research by Finder shows that 37% of young Australians believe they will never be able to afford a home – up from 23% in 2021 – despite the expected sharp fall in house prices: Among gen Z non-homeowners, the percentage who believe they will never be able to afford a home has risen from

The post Nation kisses goodbye to Great Australian dream appeared first on MacroBusiness.

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Your Democracy Wednesday, August 10, 2022 - 13:18 Source

President Joe Biden’s assassination of Al-Qaeda leader Ayman al-Zawahiri in Afghanistan was illegal under both U.S. and international law.

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John Quiggin Wednesday, August 10, 2022 - 13:16 Source
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MacroBusiness Wednesday, August 10, 2022 - 13:00 Source

In an “ominous turning point” for the Australian economy, data from CreditorWatch shows that the number of Australian companies appointing external administrators rose by 46% year-on-year in July. There has also been a 50% increase in companies going into administration since April, with food, recreation and telecommunications firms hardest hit: Anneke Thompson, chief economist at

The post Aussie business insolvencies soar appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 10, 2022 - 12:30 Source

I know it’s not done to talk about anything important these days but too bad: Opposition Leader Peter Dutton is under pressure to adopt a more nuanced approach in the ­Coalition’s attacks on Beijing, with new analysis revealing massive swings against the Liberal Party in seats with high numbers of Chinese-Australian voters. The Australian can

The post Chinese Australians to force Liberal grovel? appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 10, 2022 - 12:00 Source

Roy Morgan has released its labour force survey for July, which registered a sharp 0.7% increase in unemployment to 8.5% on the back of higher labour force participation. The underemployment rate also rose by 0.1% to 8.6%. Specifically, unemployment in July increased 121,000 to 1.25 million Australians (8.5% of the workforce) while under-employment was up

The post Unemployment lifts as more Aussies hunt for work appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 10, 2022 - 11:40 Source

BofA pokes the elephant in the earnings room. As huge inventories are confronted with declining demand, corporate pricing power is going to collapse and margins crater. This is the downside of the inflation trade that is on the offing but not yet priced. Nearly 90% of 2Q earnings are in and 2Q EPS is tracking

The post The elephant in the earnings room appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 10, 2022 - 11:20 Source

Not joking. As perverse as it seems, achieving the dream of linking Australian renewable energy to Asian energy buyers may generate a household electricity crisis as artificial as the current gas crisis. As with LNG, large scale solar projects are set to largely, perhaps even entirely, bypass domestic demand. The increase in energy prices in

The post Mike Cannon-Sunshinethief? appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 10, 2022 - 11:00 Source

Roy Morgan has released it July inflation expectations survey, with inflation expectations hitting their highest level since August 2012. Inflation Expectations in July are a large 1.8% points higher than a year ago in July 2021, and 2.5% points above the near record low of 3.4% in July 2020. Inflation expectations have risen across the

The post Aussie inflation expectations hit 8-year high appeared first on MacroBusiness.

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Your Democracy Wednesday, August 10, 2022 - 10:42 Source

 

Some people are used as foils by the inner sanctum of the political hardshitters, like the US presidents and their semi-official friendly cronies. These foils, these guys and dolls, are called advisors. More often than not, the Powermen (they are mostly men or women with balls, like Thatcher) don’t listen to them. But the advice is taken on board as to find a way to bullshit and go around the advice. This is one of the trick of POWER.

 

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MacroBusiness Wednesday, August 10, 2022 - 10:40 Source

Academics from the University of Adelaide and the University of South Australia have commended the Albanese Government for announcing that it would establish a National Housing Supply and Affordability Council (NHSAC), claiming it “might be the year’s most important and impactful housing announcement” that “is a major step towards a considered and long-overdue national plan

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The Australian Independent Media Network Wednesday, August 10, 2022 - 10:37 Source

Now I need to be careful here because I know that while a lot of people think that everything is political correctness gone mad, there are still even more people that think that it’s wrong to be racist and sexist… That doesn’t mean that they don’t spend their day doing racist and sexist things because…

The post White Man Bullies Indigenous Woman And For Once It’s News.. appeared first on The AIM Network.

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MacroBusiness Wednesday, August 10, 2022 - 10:20 Source

A couple of nice chart series from The Market Ear today. US recession has been priced out. Recession is out People are forgetting about the recession, or is the recession not happening? Google Recession talk not spiking The proportion of firms mentioning “recession” in quarterly earnings calls came to a halt, way below COVID crash

The post Market squeeze prices out recession appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 10, 2022 - 10:00 Source

Assistant treasury minister Andrew Leigh says Labor does not want to see an economy where multinationals see tax loopholes as a “shortcut to success” via “tricky tax arrangements”. With it having been revealed that Shell is using a marketing hub in Singapore to sell Queensland gas to offshore customers, Leigh says Labor will give the

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xkcd.com Wednesday, August 10, 2022 - 10:00 Source

Pronouncing [ṡṡċċḣḣẇẇȧȧ] is easy; you just say it like the 'x' in 'fire'.

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Renew Economy Wednesday, August 10, 2022 - 09:51 Source

coal

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MacroBusiness Wednesday, August 10, 2022 - 09:40 Source

Risk sentiment is in hesitation mode as traders await the next US CPI print and the fallout from the Fed as tech stocks also took a battering. The USD remains strong against most of the major currencies although Euro tried to break out of its current funk, the Australian dollar is looking to roll over

The post Macro Morning appeared first on MacroBusiness.

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Renew Economy Wednesday, August 10, 2022 - 09:28 Source

Neoen Tesla Big Battery Victoria

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MacroBusiness Wednesday, August 10, 2022 - 09:20 Source

No change yesterday as the gas cartel squeezed prices higher to $19Gj and NEM prices followed suit: The ACTU pulled no punches in a new report today: Implement a fairer inflation-reducing policy that protects workers’ incomes, prevents price gouging, and tackles the underlying sources of inflation, especially in energy and housing, and reduces the cost

The post ACTU demands regulation of “rapacious” energy cartels appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 10, 2022 - 09:00 Source

Bloomberg has a very important story for Australia’s battery of China grovellers. It is this: China’s top leadership has grown increasingly frustrated with a years-long failure to develop semiconductors that can replace US circuitry, an embarrassment capped by a flurry of anti-graft probes into top industry officials and the $9 billion rescue of Tsinghua Unigroup.

The post Why the West will beat China appeared first on MacroBusiness.

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Your Democracy Wednesday, August 10, 2022 - 07:54 Source

Caretaker UK Prime Minister Boris Johnson once described his job as foreign secretary – the post he held from 2016 to 2018 – as being “imprisoned in a steel condom.”Baroness Davidson, a former Scottish Tory leader and no friend of Johnson, revealed the saucy turn of phrase in a LBC interview.

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