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MacroBusiness Tuesday, November 21, 2017 - 17:12 Source

by Chris Becker Risk is back in Asia, although you wouldn’t think it using the Aussie dollar as a risk proxy, as it heads to a new five month low. All stock markets lifted in line with the reversal in mood overnight, although Chinese stocks seem to be getting ahead of themselves as worries over

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Prosper Australia Tuesday, November 21, 2017 - 16:31 Source

An article has been doing the rounds – House of Cards – by Matt Burnie and Craig Tindale, that we highly commend. Rarely do articles array so much data in devastating order. There must be over 100 links highlighting the risky nature of our economic miracle from one industry after the other. Whilst the authors […]

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Inside Story Tuesday, November 21, 2017 - 16:20 Source

Ten years after the global financial crisis began destroying businesses and livelihoods, the major credit rating agencies — Moody’s Investors Service, Standard & Poor’s and Fitch Ratings — are still standing. Despite the vehement criticism of their awarding of favourable ratings to exotic financial products that suddenly turned toxic, and despite congressional committees and commentators all over the world calling for new regulations to curb their behaviour, the Big Three seem as influential as ever.

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Renew Economy Tuesday, November 21, 2017 - 13:53 Source

If Australian tax payers are made to cough up for a new coal plant in north Queensland, locals will also be coughing up – literally.

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MacroBusiness Tuesday, November 21, 2017 - 13:53 Source

From Westpac’s Bill Evans: There were no major surprises in the minutes of the Monetary Policy Meeting of the Reserve Bank Board for November. However, the general tone of the minutes seems somewhat more subdued than we have seen in recent reports. The Board is sticking with its expectation that inflation will increase but the

The post Bill Evans: RBA getting depressed appeared first on MacroBusiness.

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The Australian Independent Media Network Tuesday, November 21, 2017 - 13:11 Source

By David Ayliffe Shhhhh! There’s a thumping great Heffalump in Federal Parliament and he’s making quite a racket. The Heffalump has been around for quite some time ever since this blasted Marriage Equality debate began. Why can’t things just stay the same for ever and ever, Amen? Damned Heffalump, just like Pooh and Piglet, courtesy…

The post Canberra and the thumping great Heffalump in the room appeared first on The AIM Network.

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MacroBusiness Tuesday, November 21, 2017 - 13:10 Source

By Leith van Onselen The property lobby has been quick to oppose the SA Government’s announced stamp duty surcharge on foreign buyers. From The ABC: Real estate agents specialising in overseas investors have warned the South Australian Government the way a new levy on foreign investment in residential property is being applied will damage the

The post Property parasites swarm SA’s foreign buyer stamp duty surcharge appeared first on MacroBusiness.

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politicalowl Tuesday, November 21, 2017 - 12:41 Source
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MacroBusiness Tuesday, November 21, 2017 - 12:33 Source

Aussie is trading at new lows post-RBA minutes: Bonds are still bid: But the ASX can’t manage more than a whimper, though support is holding: Dalian is firm: Big Iron meh: Pensioner Killers still cock-a-whoop: Nothing can stop Big Gold, not even falling gold: Big Sleazy is down on APRA tightening: Big Dirtbag is soft

The post Australian dollar slammed to new lows, ASX stuck appeared first on MacroBusiness.

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Renew Economy Tuesday, November 21, 2017 - 12:26 Source

New report says LNP and One Nation support for uneconomic coal fired power station would force prices up in Queensland, and add to system security risks.

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Renew Economy Tuesday, November 21, 2017 - 12:26 Source

New report says LNP and One Nation support for uneconomic coal fired power station would force prices up in Queensland, and add to system security risks.

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Renew Economy Tuesday, November 21, 2017 - 12:16 Source

With the Tesla truck, Elon Musk has torn down the final frontiers of the campaign against the clean energy transition: cost. And it matters little whether Tesla itself can pull it off – it has already turned two trillion-dollar industries upside down.

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Renew Economy Tuesday, November 21, 2017 - 12:16 Source

With the Tesla truck, Elon Musk has torn down the final frontiers of the campaign against the clean energy transition: cost. And it matters little whether Tesla itself can pull it off – it has already turned two trillion-dollar industries upside down.

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politicalowl Tuesday, November 21, 2017 - 12:13 Source
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MacroBusiness Tuesday, November 21, 2017 - 12:06 Source

This time Pental: Go Straya!

The post Another consumer stock warns on deflation, profits appeared first on MacroBusiness.

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Renew Economy Tuesday, November 21, 2017 - 12:00 Source

BNEF report names Australia among 8 countries to lead global energy storage boom, with market forecast to double six times over between now and 2030.

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MacroBusiness Tuesday, November 21, 2017 - 11:52 Source

From former RBA deputy governor Stephen Grenville at Lowy: Australia’s Treasurer Scott Morrison used a recent speech to support the current round of company tax reductions, aimed at improving the incentives for foreigners to invest in Australia. He argued the case is made more pressing by US proposals to reduce its company tax. Yet Morrison greatly

The post RBA boffin clears air of company tax cut brain fart appeared first on MacroBusiness.

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MacroBusiness Tuesday, November 21, 2017 - 11:40 Source

The RBA minutes: Domestic Economic Conditions Members commenced their discussion of the domestic economy by reviewing the latest inflation data. Headline and trimmed mean inflation had both been 1.8 per cent over the year to the September quarter, broadly in line with the Bank’s expectations. Retail price inflation had been low as competitive pressures in the

The post RBA minutes dove up appeared first on MacroBusiness.

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MacroBusiness Tuesday, November 21, 2017 - 11:30 Source

Get you a a new part time job, via AAP: Volvo will sell tens of thousands of self-driving cars to Uber, which is expanding to become an operator and owner of its own car fleet. The car maker said on Monday it would provide the San Francisco-based ride-sharing company with its XC90 premium SUVs complete

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Renew Economy Tuesday, November 21, 2017 - 11:17 Source

ACCIONA has appointed Brett Wickham as the new Managing Director of its Australian energy business.

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Renew Economy Tuesday, November 21, 2017 - 11:17 Source

ACCIONA has appointed Brett Wickham as the new Managing Director of its Australian energy business.

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MacroBusiness Tuesday, November 21, 2017 - 11:15 Source

And gets better coverage too. At the NYT: The book was already being promoted as an explosive exposé of Chinese influence infiltrating the highest levels of Australian politics and media. But then, months before it was set to hit bookstore shelves, its publisher postponed the release, saying it was worried about lawsuits. The decision this

The post China’s “silent invasion” of Australia goes global appeared first on MacroBusiness.

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MacroBusiness Tuesday, November 21, 2017 - 11:00 Source

By Leith van Onselen Since the 7-Eleven migrant worker scandal broke in 2015, there has been a regular flow of stories emerging about the systemic abuse of Australia’s various migrant worker programs and visa system. The issue culminated last year when the Senate Education and Employment References Committee released a scathing report entitled A National

The post International students, backpackers suffer widespread exploitation appeared first on MacroBusiness.

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MacroBusiness Tuesday, November 21, 2017 - 10:30 Source

By Leith van Onselen CoreLogic has released its September 2017 Mapping the Market Report, which examines how the cost of housing has shifted across Australia’s capital cities by suburbs over the past five years to June 2017. The report reveals a shocking decline in affordable family-friendly housing across the migrant hot spots of Sydney and

The post The shocking disappearance of Sydney/Melbourne affordable housing appeared first on MacroBusiness.

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Inside Story Tuesday, November 21, 2017 - 10:18 Source

No one saw this coming. Last Thursday, an opinion poll told us that Victoria’s Labor government would win the Northcote by-election with room to spare, by 54 per cent to 46 for the Greens. But two days later, the voters did the reverse, and gave the seat to the Greens in a landslide.

At every polling booth, there was a swing of at least 10 per cent against the Andrews government. The average swing at the booths was 16 per cent. While some of that was clawed back on postal and prepoll votes, by the end of the night, with only a few postals left to count, the government had lost the seat in a swing of 11.7 per cent.

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The Australian Independent Media Network Tuesday, November 21, 2017 - 10:04 Source

Reading the obituaries for Charlie, I can’t help but be amused at how they all present a fairly consistent message of the charismatic, cult leader who managed to bend people to his will with his hypnotic eyes. Strange then, that he never managed to get the record deal he craved. Surely he could have just…

The post The Charles Manson Variety Hour! appeared first on The AIM Network.

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Renew Economy Tuesday, November 21, 2017 - 10:03 Source

Spain is the latest example of governments intervening in power markets to prop up gas, coal and nuclear power, including capacity and “grid reliability” payments.

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Renew Economy Tuesday, November 21, 2017 - 10:00 Source

Conservatives says new report on battery storage is just "eco-evangelism". This is what chief scientist Alan Finkel said in response.

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MacroBusiness Tuesday, November 21, 2017 - 10:00 Source

Via AFR: The global head of energy at Acciona, the world’s biggest green utility, is undeterred by the uncertainty of Australia’s future energy and climate policy and is earmarking about $600 million for new solar, wind and storage plants over the next three to four years. Rafael Mateo said Australia would capture almost one third

The post March to renewables unstoppable appeared first on MacroBusiness.

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MacroBusiness Tuesday, November 21, 2017 - 10:00 Source

By Leith van Onselen This site has noted repeatedly that one of the key reasons why Australia’s high population growth (immigration) is lowering the living standards of existing residents is because of the strain that it places on infrastructure, which inevitably leads to more congestion on roads, public transport, as well as more expensive housing.

The post VIC Liberals propose another expensive infrastructure fix appeared first on MacroBusiness.

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