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Renew Economy Tuesday, June 15, 2021 - 12:02 Source

To meet Paris targets, world must phase down existing fossil fuel production. Happily, renewables are more than ready for the challenge.

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MacroBusiness Tuesday, June 15, 2021 - 12:00 Source

As we know, the NSW Government has announced plans to replace stamp duty with an annual land tax by. On Friday it released a report detailing the reforms. Under the reforms, buyers would be given an alternative to paying stamp duty via: Owner-occupiers: a fixed $400 up-front fee plus an annual 0.3% tax on the

The post NSW throws $25,000 bribe at first home buyers appeared first on MacroBusiness.

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MacroBusiness Tuesday, June 15, 2021 - 11:30 Source

The commodities bubble has begun to burst. Lumber is crashing, copper is fading and foodstuffs like corn and soy are copping it. China’s credit impulse has sunk lower than a snake’s butthole indicating base metals and bulks are next. Oil is OK but so what? It’s manipulated. Yet, check out the latest Wall Street strategist

The post Wall Street’s commodities bubble huddle appeared first on MacroBusiness.

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MacroBusiness Tuesday, June 15, 2021 - 11:00 Source

Westpac with the note: The ABS Weekly Payrolls estimate of jobs lifted 0.3% in the two weeks to 22nd May and the fortnightly increase of the previous release (for the two weeks ending May 8) was revised from -0.3% to -0.1%. It is normal for Payrolls to be revised upwards in the weeks following the initial

The post Westpac: Aussie jobs market slowing appeared first on MacroBusiness.

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Prosper Australia Tuesday, June 15, 2021 - 10:54 Source

Homebuyers might be wary of taxing rezoning windfalls, because they worry it will increase the sticker price of housing. The property industry says that taxing rezoning windfalls will increase the cost of housing because the tax will be passed on. They also say that in response to the new tax developers will shut up shop, […]

The post Rezoning Windfall Gains Tax – FAQs first appeared on Prosper Australia.

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MacroBusiness Tuesday, June 15, 2021 - 10:30 Source

The rise in Sydney’s dwelling values has been extraordinary. Since the beginning of 2021, Sydney dwelling values have risen by an astonishing 13.9%, marking the fastest pace of increase since the late 1980s. According to CoreLogic, the ‘high end’ of Sydney’s property market – i.e. the top 25% of properties – have driven the value

The post Sydney’s elite ride property tide to higher wealth appeared first on MacroBusiness.

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Renew Economy Tuesday, June 15, 2021 - 10:09 Source

Renewables achieved record share of global electricity production in 2020, but fossil fuels still supply 80% of world's energy needs – the same as 10 years ago.

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MacroBusiness Tuesday, June 15, 2021 - 10:00 Source

Over the weekend, The AFR reported that the Morrison Government will use the Australian Treasury’s upcoming intergenerational report (IGR) as ammunition to reboot the mass immigration ‘Big Australia’ policy (see yesterday’s post). The IGR will reportedly “show the country is getting older, more indebted and reliant on taxing younger workers, and driving up spending”. Therefore,

The post Adair Turner exposes Treasury’s mass immigration myopia appeared first on MacroBusiness.

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MacroBusiness Tuesday, June 15, 2021 - 09:30 Source

The ferrous complex was mostly closed over the long weekend with much of Asai shut too for the Dragon Boat holiday. Spot iron ore rose and everything else was on pause: News over the break was very bad for demand as Chinese credit cratered but it was better on the supply side with Vale facing

The post Daily iron ore price update (60 days) appeared first on MacroBusiness.

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The Australian Independent Media Network Tuesday, June 15, 2021 - 09:30 Source

By Dr John Töns   Scott Morrison’s support for President Biden’s assertion that there is an urgent need to bolster and accelerate efforts to identify the origins of the COVID-19 pandemic and further that there is a need to ensure that the World Health Organization is independent and invested with stronger surveillance powers, seems on the…

The post COVID-19 origin: a search or a witch hunt? appeared first on The AIM Network.

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MacroBusiness Tuesday, June 15, 2021 - 09:30 Source

The first session of the trading week was a modest one overnight and while tech stocks on the NASDAQ bloomed ever higher, most other equity markets stalled out as bond yields rose across the board. Currency markets were equally sanguine without much intrasession volatiltiy although Yen sold off appreciably against USD while commodity prices saw

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Tuesday, June 15, 2021 - 09:00 Source

Chinese credit tightening has turned into a crash. Paradoxically, it’s a controlled descent but the pace of it is akin to a crisis. Total social financing in May came in at 1.92tr yuan with bank lending making 1.47tr of that: The non-bank share is still falling away after its brief COVID flourish: May loan flow

The post Chinese credit crashes, commodities to follow appeared first on MacroBusiness.

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Renew Economy Tuesday, June 15, 2021 - 08:48 Source

Yallourn coal generator forced to close three out of its four units over the weekend due to flooding at

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MacroBusiness Tuesday, June 15, 2021 - 00:10 Source

Australia’s personality-disordered PM, Scott Morrison, is galavanting around the world drumming up support to contain China. He’s invited himself to the G7 to lace it with anti-CCP warnings. He’s dropped into Downing Street to spray Beijing. He’s soon off to the White House for an anti-CCP powwow. At home, more US marines and naval access

The post Why “Pig Iron Scott” should boycott iron ore to China appeared first on MacroBusiness.

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