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MacroBusiness Wednesday, December 8, 2021 - 17:00 Source

Asian stock markets are having very solid returns in response to the big bouncebacks on Wall Street and European shares overnight with the USD retreating slightly against risk currencies with the Australian dollar heading up through the 71 cent level. Meanwhile gold is starting to get momentum after being flat all week, currently pushing through

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John Quiggin Wednesday, December 8, 2021 - 17:00 Source

While I reconsider what I should write about, I’m also thinking about when to get a Covid booster shot. I had planned to do so in February, six months after my second AZ shot. But now, I’m thinking I should wait until the vaccines have been updated for Omicron, maybe in March.

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Renew Economy Wednesday, December 8, 2021 - 15:19 Source

 Canva).

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MacroBusiness Wednesday, December 8, 2021 - 14:00 Source

All the fuss over vaccine mandates and scaremongering by the media is being lost in the data that capital cities are actually returning to normal, according to mobile data, and vaccination rates across the country are nearing complete levels. Here’s the latest take from Roy Morgan, where both Sydney and Melbourne are back to nearly

The post Workers return to capital cities as vaccination rates grow appeared first on MacroBusiness.

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Renew Economy Wednesday, December 8, 2021 - 13:39 Source

Sebastapol Solar Farm NSW Beon

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Renew Economy Wednesday, December 8, 2021 - 13:34 Source

Carnegie CETO 6 wave generator - optimised

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Renew Economy Wednesday, December 8, 2021 - 13:32 Source

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MacroBusiness Wednesday, December 8, 2021 - 13:30 Source

SQM Research are out with their nation-wide residential property listings which showed a fall in November 2021 of nearly 3%, down to 233,716 listings from nearly 240,000 in October. More here: Sydney and Canberra are the two cities to have recorded a rise in listings of 3.2% and 3.9% over the month of November. Over the year, property

The post SQM Research: Listings fall throughout November appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 8, 2021 - 13:00 Source

The latest Roy Morgan Business Confidence survey showed a significant dip for November, falling 2% to 113 points, despite lots of lockdowns lifted across the country: Business Confidence in November 2021 is still 3.9pts (+3.6%) higher than a year ago in November 2020 (109.1) but is just below the long-term average of 113.8. Businesses remain

The post Roy Morgan: Business confidence continues to drop appeared first on MacroBusiness.

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Renew Economy Wednesday, December 8, 2021 - 12:40 Source

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MacroBusiness Wednesday, December 8, 2021 - 12:30 Source

It’s a given that the Fed will hike rates faster than the RBA but by how much? Pantheon with the note: We have had two rate hikes in our 2022 forecast for more than a year, but we’re now adding a third. Our base case now is that the Fed will hike in May, September

The post How fast will the Fed hike rates? appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 8, 2021 - 12:13 Source

About bloody time: Australia has joined the United States in imposing a diplomatic boycott of the 2022 Winter Olympics in China, citing Beijing’s coercive trade practices as well as its human rights abuses as reasons. Prime Minister Scott Morrison has told reporters in Sydney the decision should come as no surprise. He said any reprisals

The post Australia boycotts Beijing Olympics appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 8, 2021 - 12:00 Source

Going into the northern hemisphere winter without much tangible data of what the Omicron variant is doing to the population, plus surging protests against any measure to contain the pandemic, Europe is facing a crisis as case numbers surge past 350,000 per day. From Reuters: Over 15 countries in Europe have reported confirmed cases of

The post Europe’s COVID surge accelerates as Omicron spreads appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 8, 2021 - 11:30 Source

Several things are obvious about Australia in 2022. House prices are going to slow sharply and commodity prices are going to fall much further. These are dovish for monetary policy but given rates are so low one could still argue that tightening will be needed. But there is one question that you have to answer

The post Immigration is the key input into interest rates appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 8, 2021 - 11:00 Source

Not new but some texture around the Liar’s fantastic vaccine ineptitude: New emails reveal how “enthusiastic” Pfizer was to engage with Australia about its COVID-19 vaccine, months before the federal government agreed to buy any doses. Doses were in limited supply during the deadly outbreaks in Victoria and New South Wales this year. The Pfizer-BioNTech

The post Liar rejected Pfizer, delivered recession appeared first on MacroBusiness.

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Renew Economy Wednesday, December 8, 2021 - 10:46 Source

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Renew Economy Wednesday, December 8, 2021 - 10:45 Source

Victorian big battery Neoen Tesla Megapack Australia's biggest battery

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MacroBusiness Wednesday, December 8, 2021 - 10:30 Source

A new study from South Africa: Pfizer Inc.’s vaccine provides less immunity to the omicron variant than to other major versions of Covid-19, according to laboratory experiments that indicate a booster may still help stop the highly mutated strain. Researchers at the Africa Health Research Institute in Durban, South Africa found omicron reduces virus-blocking antibodies

The post Study: OMICRON “40-fold” less vaccine effective appeared first on MacroBusiness.

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Renew Economy Wednesday, December 8, 2021 - 10:30 Source

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MacroBusiness Wednesday, December 8, 2021 - 10:15 Source

NSW and Victoria are seeing a short term surge in new daily COVID cases, with over 400 and 1300 respectively with Queensland yesterday have one new locally acquired case Most hospitalised cases and particularly those in ICU are still in Victoria:

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MacroBusiness Wednesday, December 8, 2021 - 10:00 Source

The ferrous complex boomed on December 7, 2021 as everything roared on new stimmies. Paper flamed out overnight but this looks like a typically maniacal bear market rally so it could easily go further: However, under the surface, the setup remains dire. China imported nearly 105mt of iron ore in November: But the rolling annual

The post Daily iron ore price update (metal mountain) appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 8, 2021 - 09:30 Source

Lots of China property news today. Evergrande is going under. So are many of its mates. Dollar funding spreads are worsening again. Stimmies are exciting the market’s useful idiots but policymakers are holding the line.  Rather than recap it all, here is a solid take from TSLombard. It’s a little less bearish than I am

The post China property “large drag for years to come” appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 8, 2021 - 09:30 Source

Risk appetites increased overnight with very strong results on European markets and Wall Street, both pushing 2-3% in single session gains. The bond market saw another easing in yields as the 10 year Treasury yield headed towards the 1.5% level while currency markets extended their reversal in USD strength but only in risk currencies like

The post Macro Morning appeared first on MacroBusiness.

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Your Democracy Wednesday, December 8, 2021 - 09:17 Source

boomboom

After Tuesday's video call, US National Security Adviser Jake Sullivan told journalists Washington was preparing specific robust responses in the weeks ahead if they were required.

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MacroBusiness Wednesday, December 8, 2021 - 09:00 Source

Legal eagles are all over the Liar’s Berejiklian lies: The chair of the Centre for Public Integrity and former NSW supreme court judge, Anthony Whealy, criticised Morrison for dismissing the serious issues raised by the Icac inquiry. …“For Morrison to dismiss that as being of no significance, is to trash integrity and accountability in the

The post Liar’s puswad politics spreads mutiny and disgust appeared first on MacroBusiness.

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Your Democracy Wednesday, December 8, 2021 - 08:41 Source

war...war...

"If we did the right things, we’d be all walking in sandals, like Jesus Christ in the desert…” — Pa Leonisky.

 

We hate deserts — and sandals are useless for the warriors.

 

So, In the West we have invented “philosophies of convenience”, which are ways to morally whitewash what is un-washable.

 

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MacroBusiness Wednesday, December 8, 2021 - 08:24 Source

Ever since COVID, markets have been unhinged and they have not disappointed again. Just as a modicum of sanity threatened, the madness returned in spades. DXY was firm and EUR weak: Australian dollar roared anyway. We shall see now if former support turns resistence: Oil crashed up: Base metals meh: Big miners to the moon!

The post Australian dollar soars on BTFD! appeared first on MacroBusiness.

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Renew Economy Wednesday, December 8, 2021 - 07:44 Source

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Your Democracy Wednesday, December 8, 2021 - 06:42 Source

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Australia will not send officials or politicians to China for the Winter Olympics in a rebuke of Beijing over its human rights record, with a final decision on whether to launch a full diplomatic boycott to be made within days.

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The Australian Independent Media Network Wednesday, December 8, 2021 - 06:00 Source

If you were starting from scratch wanting to build an ideal society, what would you include? My thinking on these subjects leads down many roads, some of which are paved with idealism and the direction in which l head.   Yes, you may find my ideas a touch idealistically romantic, even simplistic, but that’s where…

The post How do we make an ideal society? appeared first on The AIM Network.

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