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Links 5 November 2018

November 5, 2018 - 00:01 -- Admin

Global Macro / Markets / Investing: The New Retirement Plan: Save Almost Everything, Spend Virtually Nothing – WSJ The Perversion of Fiscal Policy – NY Times Warren Buffett’s Berkshire Hathaway Repurchases More Than $900 Million of Stock – WSJ Bitcoin’s ‘First Felon’ Faces More Legal Trouble – NY Times Investors dump Treasuries after strong wage

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Weekend Links, 3-4 November, 2018

November 2, 2018 - 21:54 -- Admin

Sheep Country, Burra, 1950, Douglas Dundas, Art Gallery of NSW   Markets and Macro Gold buying by central banks hits its highest level in almost three years – CNBC Trump says he and China’s Xi had good exchange on trade – Nikkei Asian Review Start-Ups Ask, ‘Are We Making Money for Saudi Arabia?’ – NY

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Macro Afternoon

November 2, 2018 - 15:50 -- Admin

A somewhat mixed end to the week here in Asia with most stock markets rising the wave of confidence that has set in on Wall Street earlier. Despite advancing local currencies due to a reversion in USD sentiment, plus falling oil prices, stocks look set to build from here – if tonight’s US unemployment print

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Has Tim Wilson heard of the i-n-t-e-r-n-e-t?

November 2, 2018 - 14:30 -- Admin

It’s new and really cool: Liberal MP Tim Wilson has called on Bill Shorten to sack Labor frontbencher Andrew Leigh for talking down Australia’s economy in an opinion piece in the New York Times. Mr Wilson said “bagging Australia’s economy” in the United States would deter much needed investment. “Bill Shorten can’t have both: it’s

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Driverless cars to worsen traffic gridlock

November 2, 2018 - 14:15 -- Admin

By Leith van Onselen Economist Brian Haratsis predicts that around 30 million vehicles will be on Australian roads by 2030, compared to 19 million currently, comprising a combination of traditional and driverless cars. He predicts that the increased use of driverless cars will lead to greater congestion as the cost of commuting is expected to

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Get ready for a flood of bored tradies

November 2, 2018 - 14:00 -- Admin

Via HIA: Skills Shortages Ease with Building Conditions “The HIA Trades Availability Index indicates that demand for construction trades eased during the September 2018 quarter, but they remain in short supply,” said Geordan Murray, Acting Principal Economist. The HIA Trades Report provides a quarterly review of the availability of skilled trades and any demand pressures

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Is China now building empty apartments at gunpoint?

November 2, 2018 - 13:45 -- Admin

Let me show you some whacky Chinese housing data from Gavekal. First, the price trend needs to correct: So, too, does inventory, which remains hilarious and starts are making it worse: As we know, macroprudential shut off tier one city price growth two years ago. Price growth has been all in the boondocks since: But

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Ardern’s Kiwibuild affordable housing program an epic failure

November 2, 2018 - 13:30 -- Admin

By Leith van Onselen I noted previously how the New Zealand Labour Party’s promise to “build 100,000 affordable homes across the country” was already shaping up as an epic failure due to: the government changing the program from “building” to “facilitating” the delivery of 100,000 affordable dwellings, meaning that NZ taxpayers would merely ‘underwrite’ many dwellings that would have

US debt markets still solid despite equity ructions

November 2, 2018 - 13:15 -- Admin

Via Moody’s: Net Stock Buybacks and Net Borrowing Have Yet to Alarm Recent outsized advances by equity prices probably owe something to either actual or anticipated buybacks of common stock. Both the relative steadiness of corporate credit quality and ample amounts of corporate cash now improve the outlook for equity buybacks. In the Financial Accounts

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Westpac warns again

November 2, 2018 - 13:00 -- Admin

One month ago, WBC issued a profit warning. Today, before its half year release Monday, it has issued another one! Rebuilding trust one warning at a time.

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