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MacroBusiness Friday, December 14, 2018 - 00:20 Source

By Leith van Onselen Of all the statements arising from Wednesday’s COAG pro-Big Australia love-in, the most idiotic has to be reserved for Victorian Premier, Dan Andrews. From The AFR: Victorian Premier Daniel Andrews reaffirmed his push for a large migrant intake but hinted the federal government had to do more for his state regarding

The post Dan Andrews jumps aboard the ‘Big Australia’ idiot train appeared first on MacroBusiness.

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MacroBusiness Friday, December 14, 2018 - 00:20 Source

The politico-housing swamp has entered a corruption blow-off. One does need to be Albert Einstein to see why. House price falls are steepening and the panic in official circles is mushrooming. This week saw two extraordinary events that illustrate the circling of the wagons among the ruling class. The first was the COAG meeting which

The post Lunatic RBA runs riot appeared first on MacroBusiness.

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MacroBusiness Friday, December 14, 2018 - 00:15 Source

By Leith van Onselen In the week ended 13 December 2018, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, tanked another 0.35%: Values fell across all major markets except Adelaide: So far in December, dwelling values have fallen by 0.63%, driven by heavy losses across Sydney, Melbourne and

The post CoreLogic weekly house price update: Fugly appeared first on MacroBusiness.

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MacroBusiness Friday, December 14, 2018 - 00:10 Source

By Leith van Onselen The Australian Bureau of Statistics (ABS) has released its National Financial Accounts for the September quarter, which revealed a 1.8% quarterly decline in Australian banks’ gross external liabilities (offshore borrowings), but a large 7.6% increase over the year. One Name Paper (-$24 billion) and Deposits (-$10 billion) drove the quarterly decline

The post As credit tightens, Aussie banks binge on offshore bonds appeared first on MacroBusiness.

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MacroBusiness Friday, December 14, 2018 - 00:05 Source

Join MB Fund’s Chief Strategist David Llewellyn Smith, Head of Investments Damien Klassen and Tim Fuller as we look at – the current economic data coming out of China – Headwinds facing another major local boom – How these themes will impact investment across the world Webinar slides click here The information on this webinar contains

The post MB Fund Podcast – China in 2019 appeared first on MacroBusiness.

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MacroBusiness Friday, December 14, 2018 - 00:01 Source

Global Macro / Markets / Investing: Paul Volcker on Why Financial Regulation and Good Governance Are So Important – Barron’s Cash back in the spotlight as global bond yields fall – FT After the ’death cross,’ the S&P 500 seems to be forming another scary chart pattern – CNBC Central banks should not set economic

The post Links 14 December 2018 appeared first on MacroBusiness.

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The Australian Independent Media Network Thursday, December 13, 2018 - 20:16 Source

Big News! The Morrison government has announced a policy on a federal corruption body. Apparently they’ve been working on it for a long time. In fact, they’ve been working on it even before we had our latest PM. They were even working on it at the time they told us that they we didn’t need…

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The Australian Independent Media Network Thursday, December 13, 2018 - 20:00 Source

Rather than joining those who examine the entrails of what happened in the past 12 months and makes a narrative around the good, the bad and the ugly, how about we raise the tone a tad and look at attitudes and consensus. Wasn’t the last week of Parliament fun? Effectively the coalition government wanted to…

The post Let’s dance appeared first on The AIM Network.

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The Australian Independent Media Network Thursday, December 13, 2018 - 18:00 Source

Scott Morrison and Christian Porter gave a press conference today to announce their response to the Ruddock review into religious freedom and the formation of a National Integrity Commission. In explaining the need for religious freedom legislation and a Religious Freedom Commissioner at the AHRC, Scott started out by telling us what a religious country…

The post Nice try guys but I don’t think anyone’s buying it appeared first on The AIM Network.

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The Australian Independent Media Network Thursday, December 13, 2018 - 17:33 Source

It has been an ordinary year for universities in Australia. While the National Tertiary Education Union pats itself on the back for supposedly advancing the rights and pay of academics, several face removal and castigation at the hands of university management. Consumerism and pay are the sort of quotidian matters that interest the NTEU. Less…

The post Be Offensive and Be Damned: The Cases of Peter Ridd and Tim Anderson appeared first on The AIM Network.

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MacroBusiness Thursday, December 13, 2018 - 16:00 Source

An very positive day for risk assets here in Asia as the USD continued its retreat against the majors except Yen, helping domestic Japanese stocks while Chinese bourses finally played catchup and have lifted significantly, especially on the mainland. The potential news of the Chinese buying soybeans from the US has overshadowed the growing political

The post Macro Afternoon appeared first on MacroBusiness.

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MacroBusiness Thursday, December 13, 2018 - 15:17 Source

As John Kehoe observes today: The RBA’s fingerprints are all over the CFR statement, which says “an overly cautious approach by some lenders to incorporating relevant laws and standards into loan approval processes may be affecting lending decisions”. The result is that the bond market has gotten hosed today as it mulls whether the RBA can

The post Dodgy RBA lifts Aussie markets appeared first on MacroBusiness.

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Renew Economy Thursday, December 13, 2018 - 15:06 Source

Department of Defence tenders for 1-1.5MW solar plus battery storage for Jindalee Transmitting Site north-east of Alice Springs, to "reduce reliance on fossil fuels."

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MacroBusiness Thursday, December 13, 2018 - 14:49 Source

Via Domain: ExxonMobil has made a final investment decision on its Bass Strait gas project, which will bring more gas to Victoria in the next five years. The decision backing the West Barracouta field, located off Victoria’s shores, boosts ExxonMobil’s Gippsland Basin output. Exxon did not disclose the volumes but this gas is not for

The post Gas cartel to produce more for everyone else appeared first on MacroBusiness.

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Renew Economy Thursday, December 13, 2018 - 14:47 Source

There are a lot of similarities between the Texas and Australian grids, except for the fact that Texas did its network preparation properly, and Australia did not.

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Renew Economy Thursday, December 13, 2018 - 14:32 Source

The Investor Group on Climate Change (IGCC) is pleased to announce the appoin

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Renew Economy Thursday, December 13, 2018 - 14:29 Source

Snowy board gives tick of approval to Snowy 2.0 pumped hydro scheme, but final call remains with government owner, and Coalition not saying if the project stacks up.

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MacroBusiness Thursday, December 13, 2018 - 14:00 Source

By Leith van Onselen The ABS today released its National Health Survey for 2017-18, which revealed that rates of obesity continue to rise, with two-thirds (67.0%) of Australian adults classified as either overweight or obese, up from 56.2% in 1995: However, the data above is based on the highly flawed “Body Mass Index” (BMI), which is

The post ABS: Diabesity a major problem in Australia appeared first on MacroBusiness.

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MacroBusiness Thursday, December 13, 2018 - 13:30 Source

By Leith van Onselen This is hilarious. There’s now a satirical spoof account on Twitter mocking “DrDemography“, Liz Allen. It’s called “Professor Demography” and purports to be an “environmentalist” living in Sydney’s wealthy and insulated Rose Bay: Professor Demography believes that Peter McDonald is being far too conservative and that Australia should lift its migrant

The post Amusing Liz Allen parody emerges on Twitter appeared first on MacroBusiness.

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MacroBusiness Thursday, December 13, 2018 - 13:00 Source

By Leith van Onselen The HIA has jumped aboard Peter McDonald’s immigration propaganda releasing the following drivel lobbying against any immigration cut: Sensible heads need to prevail regarding Australia’s immigration policy said the Housing Industry Association, following COAG’s determination yesterday to make population planning and management a standing item on their agenda. “Australia needs to

The post Shocked. Shocked! HIA rejects any immigration cut appeared first on MacroBusiness.

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MacroBusiness Thursday, December 13, 2018 - 12:30 Source

Another one bites the dust: Shares hammered but wider realty stocks fine because it is only MOC don’t you know:

The post Mortgage Choice warns appeared first on MacroBusiness.

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MacroBusiness Thursday, December 13, 2018 - 12:00 Source

By Leith van Onselen ABC 7.30 Report last night aired the final of a three part special on Australia’s budding housing bust, which is well worth watching. The episode focussed on Labor’s policy to restrict negative gearing to newly constructed dwellings and to halve the capital gains tax discount. The segment featured several commentators warning

The post 7.30 Report’s “House of Cards” (Part 3) does negative gearing appeared first on MacroBusiness.

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MacroBusiness Thursday, December 13, 2018 - 11:59 Source

This week’s LIVE webinar (12:30pm AEST, Thursday 13 Dec) – we look at CHINA. Join MB Fund’s Chief Strategist David Llewellyn Smith, Head of Investments Damien Klassen and Tim Fuller as we look at: – the current economic data coming out of China – Headwinds facing another major local boom – How these themes will

The post MB Fund Podcast – China in 2019 LIVE at 12.30 appeared first on MacroBusiness.

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MacroBusiness Thursday, December 13, 2018 - 11:45 Source

By Leith van Onselen Last weekend, CoreLogic released its preliminary auction clearance rates, which revealed the following results: Today, CoreLogic has released its final auction results, which reported a large 4.3% decline in the national auction clearance rate to 41.0%, with Sydney’s auction clearance rate diving 6.8% to 41.3% and Melbourne’s falling 2.3% to just

The post Final auction clearance rate crashes to new low appeared first on MacroBusiness.

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Renew Economy Thursday, December 13, 2018 - 11:44 Source

Coalition underwriting documents allow government to pick and choose its favoured projects and adjust the criteria to suit. Even emissions intensity may not be a factor.

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Renew Economy Thursday, December 13, 2018 - 11:44 Source

Coalition underwriting documents allow government to pick and choose its favoured projects and adjust the criteria to suit. Even emissions intensity may not be a factor.

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Renew Economy Thursday, December 13, 2018 - 11:44 Source

APA Group Chairman Michael Fraser has today announced that APA’s long serving CEO and Managing Director Mick McCormack has advised the Board of his intention to retire from the role no later than 31 December 2019. 

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MacroBusiness Thursday, December 13, 2018 - 11:30 Source

By Leith van Onselen Fairfax’s Ross Gittins yesterday penned an excellent article lamenting the neoliberal obsession with privatisation, which is unambiguously making Australians worse-off: Many people feared that if private businesses were allowed to buy government businesses, the first thing they’d do would be to jack up their prices. Politicians and supposed experts told them

The post The great privatisation con appeared first on MacroBusiness.

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MacroBusiness Thursday, December 13, 2018 - 11:15 Source

Via Westpac: • The Treasurer will release the Federal Government’s MidYear Economic & Fiscal Outlook (MYEFO) on Monday of next week, December 17. • The update will reveal an improved budget position – largely higher tax revenue – on stronger national income growth, a robust labour market and, to date, an undershoot on expenditures. •

The post Inside MYEFO appeared first on MacroBusiness.

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MacroBusiness Thursday, December 13, 2018 - 11:00 Source

Via the ABC: ANZ chief executive Shayne Elliott and other senior managers have been implicated for the first time in the interest rate rigging scandal that rocked Australia’s financial system. The details are outlined in a tranche of court documents obtained by the ABC that were quietly filed by the corporate regulator shortly before a

The post ANZ rate rigging went right to the top appeared first on MacroBusiness.

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