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MacroBusiness Wednesday, January 29, 2020 - 11:11 Source

Via Westpac: Despite the lift, the Leading Index growth rate remains below zero, indicating momentum tracking well below trend. In fact the December print represents the thirteenth straight month where the Index growth rate has been negative. This has been consistent with the persistent below trend growth we have seen for the Australian economy. The

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MacroBusiness Wednesday, January 29, 2020 - 11:00 Source

The senate crossbench looks set to scuttle the Morrison Government’s planned privatisation of Australia’s visa system after the Department of Foreign Affairs and Trade (DFAT) advised that the reform would likely need to be legislated: The department’s incoming government brief to Home Affairs Minister Peter Dutton, released under Freedom of Information laws, says the plan

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The Australian Independent Media Network Wednesday, January 29, 2020 - 10:45 Source

By David Ayliffe   I have some questions for Prime Minister Scott Morrison, and for the Secretary of Prime Minister and Cabinet who is currently investigating whether the former Sports Minister did naughty things with money prior to the last election. Somehow I don’t think my questions will be answered but I’m convinced the truth will…

The post Bridget, the buck is moving. Take a shot! appeared first on The AIM Network.

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MacroBusiness Wednesday, January 29, 2020 - 10:40 Source

Via the excellent Damien Boey at Credit Suisse: A belated happy new year! Event-wise, it has not been a great start to 2020, but hopefully we can navigate the risks effectively together. In early January, we have seen Middle Eastern tensions, natural disasters and the Wuhan coronavirus dominate the headlines. The signing of phase I

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The Australian Independent Media Network Wednesday, January 29, 2020 - 10:21 Source

Finally it seems that the long suffering quiet Australians who were forced to stand by and hold their tongues as Bridget McKenzie and her political advisers rorted and subverted the sports grants scheme, have had enough and have leaked the motherload of incriminating data to the ABC : https://www.abc.net.au/news/2020-01-28/sport-australia-complained-pre-el... These so called ministerial advisers had…

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MacroBusiness Wednesday, January 29, 2020 - 10:20 Source

In 2017, NSW Planning Minister, Rob Stokes, pushed-back against the federal government’s blind march towards a ‘Big Australia’, claiming it is leaving Sydney forever struggling to keep pace: Rob Stokes said the state government was left trying to retrofit the NSW’s infrastructure and services to an expanding population, without a clear, transparent trajectory of NSW’s

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MacroBusiness Wednesday, January 29, 2020 - 10:12 Source

Today’s grisly update: Daily number of new cases down to 880 from 1400 yesterday but who can trust that? Mortality rate dropped to 2.3%. Good news. Still clearly worse than SARS at the comparable stage. Possibly much worse.

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MacroBusiness Wednesday, January 29, 2020 - 10:00 Source

Former Treasurer and chairman of the Future Fund, Peter Costello, is the latest to question the efficiency of Australia’s compulsory superannuation system, claiming that superannuation is not a genuine market and that it produces “inefficient” outcomes: Australia’s super system is not a genuine market and many retirement products are “inefficient”, Future Fund chair Peter Costello

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MacroBusiness Wednesday, January 29, 2020 - 09:40 Source

Via the McCrann Sock Puppet today: If you are a “Climate Change” true and absolute believer – and even more emphatically so, if you’ve gone the full “Climate Emergency Greta” – the answer is nuclear. If you remain more rationally sceptical of the claimed evils of carbon dioxide and the associated demonisation of coal, or

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The Australian Independent Media Network Wednesday, January 29, 2020 - 09:36 Source

It is strikingly bullying and bullish. US officials have been less than reserved in their threats about what Britain’s proposed dealings with Huawei over admitting it to its 5G network might entail. Three Republican Senators – Tom Cotton of Arkansas, John Cornyn of Texas and Marco Rubio of Florida – have taken it upon themselves…

The post Trump’s Failed Bullying: Britain accepts 5G Huawei Technology appeared first on The AIM Network.

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MacroBusiness Wednesday, January 29, 2020 - 09:20 Source

Via the ABC: Australians are being officially advised to reconsider their need to travel to China as a result of the coronavirus outbreak. Early on Wednesday morning, government travel website Smarttraveller updated its travel advice for China from “exercise normal safety precautions” to “reconsider your need to travel”. Foreign Minister Marise Payne warned Australians should not travel

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MacroBusiness Wednesday, January 29, 2020 - 09:00 Source

By Chris Becker  Hope returned to stock markets overnight as US economic data beat expectations. Wall Street rallied over 1% higher with the usual safe haven assets falling in response, although Bitcoin did surge above the $9000 mark. Oil prices came back a little after being whallopped, while the USD lost ground against most of

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Wednesday, January 29, 2020 - 09:00 Source

SGX that is. Hammered again yesterday to $73.64: Coronavirus damage estimates are mounting, via Platts: “The concentration of the virus in China, the strong growth of Chinese steel production/exports since 2003 are likely create a demand vacuum across the region,” Jefferies’ Australia-based analysts Simon Thackray and Abraham Akra said in a note. “We believe, inventories

The post Daily iron ore price update (clubbed like baby seal) appeared first on MacroBusiness.

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Your Democracy Wednesday, January 29, 2020 - 07:15 Source

supersoldiers   In the secretive labs of the Pentagon, top military minds are working on a new fighting style.

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MacroBusiness Wednesday, January 29, 2020 - 07:05 Source

DXY is up and away as EUR and CNY sink: That leaves the Australian dollar nowhere to go but down: Gold fell: Oil rose a bit: Metals fell further: Miners bounced: And EM stocks: Plus junk: Treasuries eased: All bonds did: As stocks declared the virus crisis dead: Good luck with that. This increased volalility

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The Australian Independent Media Network Wednesday, January 29, 2020 - 06:00 Source

On 26 February I will turn 79 leaving, me with but one year to achieve the average life span of the Australian male. Given the assembly of the many different coloured tablets – each with its own purpose – that confront me morning and night I’m confident of achieving this milestone. It is surprising to…

The post Until death us do part appeared first on The AIM Network.

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Poll Bludger Wednesday, January 29, 2020 - 05:55 Source

Joe Biden and Bernie Sanders are roughly tied in Iowa. Also: the upcoming Irish election and yet more on Brexit. Guest post by Adrian Beaumont.

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MacroBusiness Wednesday, January 29, 2020 - 00:15 Source

Via John Authors at Bloomberg: Like most readers, I care about this most as a human being, rather than as an investment commentator. The prospect of a deadly epidemic is horrific. But viewed dispassionately, the incidents have the following things in common: The actual damage (in financial or human terms) is still minimal in the

The post Panic now or later about coronavirus? appeared first on MacroBusiness.

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MacroBusiness Wednesday, January 29, 2020 - 00:05 Source

When it comes to international student enrolments, Australia is a world-beater. As shown recently by Professor Salvatore Babones, the concentration of international students at Australia’s universities is the highest in the developed world at roughly 2.5 times second-placed United Kingdom and around three times third-placed Canada: The main driver of Australia’s booming international student enrolments

The post Chinese international student bubble to pop on virus appeared first on MacroBusiness.

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MacroBusiness Wednesday, January 29, 2020 - 00:01 Source

Global Macro / Markets / Investing: Dow Jones sinks more than 400 points amid coronavirus uncertainty – ABC Amid climate crisis, investors are starting to put their money towards a sustainable future – CNBC Fed Adds Nearly $50 Billion to Markets, but Overall Temporary Liquidity Declines – WSJ “Digital currency cannot be private,” warns Bank

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Renew Economy Wednesday, January 29, 2020 - 00:01 Source

Solar Power Plant in modern city Sustainable Renewable Energy corporate power purchase agreement PPA - optimisedCorporate market for wind and solar rose sharply in 2019, but in Australia it slowed dramatically, partly due to growing grid connection frustrations.

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The Australian Independent Media Network Tuesday, January 28, 2020 - 19:49 Source

By RosemaryJ36   As an observer, I am becoming convinced that current government ineptitude is the price we are paying for the politicisation of the Australian Public Service (APS). Just stop a moment and reconsider those three words. The APS is there to serve the Australian public! By reducing staff in the APS, appointing politically oriented…

The post Politicising the Public Service: Nobody does it better than the LNP appeared first on The AIM Network.

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MacroBusiness Tuesday, January 28, 2020 - 16:30 Source

Asia stocks continue to drop as economic fears surrounding the Chinese coronavirus continue to mount alongside the growing number of official cases. Forex markets are relatively tight with the Kiwi dropping slightly on the announcement of a new election, while Bitcoin is fast approaching the $9000 mark: Japanese share markets were relatively stable alongside Yen

The post Macro Afternoon appeared first on MacroBusiness.

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Renew Economy Tuesday, January 28, 2020 - 15:04 Source

Close up of electrical tower and blue sky Renewable energy and smart grid - optimisedEnel X to lead trial to encourage businesses to switch on rarely-used emergency diesel generators at times of high demand, earning revenue and clipping peaks.

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MacroBusiness Tuesday, January 28, 2020 - 14:59 Source

Nasty for Australian education, via Xinhua: China’s Ministry of Education announced that English proficiency exams Chinese students take to get enrolled by foreign universities will be cancelled nationwide during February in view of the ongoing novel coronavirus outbreak. The exams include the International English Language Testing System (IELTS), the Test of English as a Foreign

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Renew Economy Tuesday, January 28, 2020 - 14:51 Source

The principal energy networks lobby is pushing the case for more innovation on Australia’s main grids as owners, operators and regulators grapple with the impact of electric vehicles, rooftop solar, battery storage and other enabling technologies that promises to “tip the system on its head.” A new report from Energy Networks Australia highlighting some of...

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Renew Economy Tuesday, January 28, 2020 - 14:50 Source

Solar farms are facing significant headwinds in Australia's messy grid.

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The Australian Independent Media Network Tuesday, January 28, 2020 - 14:45 Source

By RosemaryJ36   Recently, a friend of mine had problems with his AIMN subscription, but when I later asked if it was sorted out, he responded that he was thinking about cancelling it, because all the writers were preaching to the converted. And with a few notable exceptions – in the case of some of those…

The post Time for action appeared first on The AIM Network.

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Renew Economy Tuesday, January 28, 2020 - 14:44 Source

solar cell up close efficiency 2Solar scientists say modern techniques allow for dramatic cuts in solar cell thickness, and deliver another significant reduction in solar costs.

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MacroBusiness Tuesday, January 28, 2020 - 14:20 Source

Cross-posted from Independent Australia: The future of the NBN looks grim with entrenched poor outcomes, increasing financial pressures and no solutions from the Morrison Government, writes Paul Budde. OVER THE LAST WEEK, I had an interesting discussion on the NBN with several long-term colleagues. What triggered this discussion – we have had many more of

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