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MacroBusiness Tuesday, July 23, 2019 - 05:35 Source

DXY was up overnight, EUR and CNY down: The Australian dollar faded against EMs: And fell against EMs: Gold was firm: And oil: Metals flamed out: Big miners fell: EM stocks are stuck: Junk was mixed: Treasuries were bid: Bunds boomed: As did Aussie bonds: The return of the bond boom is an interesting phenomenon

The post Australian dollar falls again as bond boom returns appeared first on MacroBusiness.

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MacroBusiness Tuesday, July 23, 2019 - 00:20 Source

It had better be. The last time Australia found itself coming out of a housing correction in 2011, MB warned that APRA should tighten macroprudential policy. Instead it waited five years and the rest is bubble history. In part APRA was slowed by the Lunatic RBA which very unwisely campaigned against macroprudential for years. This

The post Is corrupt APRA preparing the next round of macroprudential? appeared first on MacroBusiness.

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MacroBusiness Tuesday, July 23, 2019 - 00:10 Source

The latest high profile case of wage theft at celebrity chef George Calombaris’ restaurants – alongside similar cases at Neil Perry’s Rockpool and Heston Blumenthal’s Dinner by Heston – has once again highlighted that Australia’s hospitality industry is ground zero for migrant exploitation. The Fair Work Ombudsman (FWO) in 2017 revealed that migrant workers are involved

The post Skilled visa rort worsens as wage theft chefs given more migrant slaves appeared first on MacroBusiness.

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MacroBusiness Tuesday, July 23, 2019 - 00:08 Source

Over the past six years, Australia experienced a monumental boom in international students, whose numbers have nearly doubled to more than 600,000: This surge in international students has driven an alarming increase in cheating at Australia’s universities, as revealed by a wide range of reports. For example, in 2014 Fairfax implicated “functionally illiterate“ Chinese students

The post There’s no excuse for international students cheating appeared first on MacroBusiness.

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MacroBusiness Tuesday, July 23, 2019 - 00:01 Source

Global Macro / Markets / Investing: Mapped: The Countries With the Highest Housing Bubble Risks – Visual Capitalist Gulf tanker incidents may raise shippers’ costs, cut traffic – ABC Demand for Cryptocurrency Explodes in Zimbabwe After Foreign Currency Ban – BeInCrypto A rally and a redirect: why the markets are so focused on the Fed

The post Links 23 July 2019 appeared first on MacroBusiness.

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AustralianPolitics.com Monday, July 22, 2019 - 21:10 Source

This is the maiden speech to the House of Representatives by Josh Burns, the ALP member Macnamara. Listen to Burns (18m): Watch Burns (21m): Hansard transcript of maiden speech to the House of Representatives by Josh Burns, ALP member for Macnamara. The DEPUTY SPEAKER (Mr Andrews): The question is that the address be agreed to. […]

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AustralianPolitics.com Monday, July 22, 2019 - 21:08 Source

This is the maiden speech to the House of Representatives by the ALP member for Lilley, Anika Wells. Listen to Wells (20m): Watch Wells (26m): Hansard transcript of maiden speech to the House of Representatives by Anika Wells, ALP member for Lilley. The SPEAKER: Before I call the honourable member for Lilley, I remind the […]

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The Australian Independent Media Network Monday, July 22, 2019 - 20:30 Source

The Fourth Estate, that historical unelected grouping of society’s scrutineers, has become something of a rabble, and, as a confederacy of strewn dunces and the ongoing compromised, is ripe for analysis. An essential premise in the work of WikiLeaks was demonstrating, to a good, stone-throwing degree, how media figures and practitioners had been bought by…

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MacroBusiness Monday, July 22, 2019 - 16:30 Source

Not a good start to the week here in Asia with a sea of red on stock markets in response to the weekend seizure of a British oil tanker by Iranian forces, but also the walkback of the Fed easing more than expected at this month’s FOMC meeting. Chinese stocks sold off the most with

The post Macro Afternoon appeared first on MacroBusiness.

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AustralianPolitics.com Monday, July 22, 2019 - 16:00 Source

This is the maiden speech to the House of Representatives by the Liberal member for Ryan, Julian Simmonds. Listen to Simmonds (22m): Watch Simmonds (24m): Hansard transcript of maiden speech to the House of Representatives by Julian Simmonds, Liberal member for Ryan. Consideration resumed of the motion: That the following Address in Reply to the […]

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Renew Economy Monday, July 22, 2019 - 15:30 Source

Adam Bandt Richard Di Natale Greens energy climate policy coal prohibition - optimisedGreens re-introduce legislation to ban government funds for coal while government considers channelling funds to upgrade coal generators under Taylor's UNGI scheme.

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Renew Economy Monday, July 22, 2019 - 15:27 Source

Two of Australia’s largest Renewable Energy Certificate Agents - Green Energy Trading and National Carbon

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Renew Economy Monday, July 22, 2019 - 15:09 Source

rooftop solar power pv tariffAEMO and ENA proposed "hybrid" system to monitor and manage distributed energy - rooftop solar, batteries and EVs - and look to the positives of the energy transition.

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Renew Economy Monday, July 22, 2019 - 14:59 Source

goldwindGoldwind and UNSW Sydney celebrated the award of Goldwind’s research funding for the UNSW Digital Grid Futures Institute, and the opening of the Goldwind – UNSW Joint Laboratory at University’s Sydney campus.

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Renew Economy Monday, July 22, 2019 - 14:51 Source

Spot electricity prices fell to zero in all state grids on Sunday afternoon, just as the share of renewables overtook black coal.

The post Electricity prices across the grid fall to zero as renewables reach 44% share appeared first on RenewEconomy.

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MacroBusiness Monday, July 22, 2019 - 14:30 Source

Strata Community Association NSW president, Chris Duggan, has called on the NSW Government to fund the replacement of dangerous flammable cladding, warning that NSW could possibly have even more buildings impacted by cladding issues than Victoria. From The AFR: “At a minimum, what they should do is to commit to saying ‘We’re going to match

The post NSW apartment owners demand flammable cladding bail-out appeared first on MacroBusiness.

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MacroBusiness Monday, July 22, 2019 - 14:00 Source

The most recent wages price data from the ABS shows that public sector wages have grown far more strongly than the private sector over the past five years: With this data in mind, The New Daily reports that Australia’s highest ranked public servants are earning close to $1 million: If you want to see a

The post Public service fat cats make like bandits as workers’ pay neutered appeared first on MacroBusiness.

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Renew Economy Monday, July 22, 2019 - 13:50 Source

vattenfall coal plantGermany generated significantly less electricity from coal-fired power stations in the first half of 2019, with output down by more than a fifth compared to a year earlier.

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MacroBusiness Monday, July 22, 2019 - 13:30 Source

The Morrison Government is facing growing pressure from within its ranks to reconsider an increase in the superannuation guarantee from 9.5% to 12% by mid-2025. Andrew Hastie is among seven backbenchers who oppose the increase. Hastie says it would be preferable for people to use this income to pay off their mortgage now rather than

The post Liberal MPs want compulsory super increase dumped appeared first on MacroBusiness.

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AustralianPolitics.com Monday, July 22, 2019 - 13:06 Source

Video, audio and transcript of maiden speech to the House of Representatives by Melissa McIntosh, Liberal member for Lindsay, NSW.

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MacroBusiness Monday, July 22, 2019 - 13:00 Source

The rank hypocrisy of The Greens has mushroomed, with current party leader, Richard DiNatale, defending former leader Bob Brown’s opposition to the proposed Robbins Island wind farm in Tasmania: Dr Brown told The Australian this week the wind farm was comparable to the Franklin Dam, and yesterday condemned the company behind the proposal, UPC Renewables, as

The post Hypocrite Greens defend wind farm NIMBYs appeared first on MacroBusiness.

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Renew Economy Monday, July 22, 2019 - 12:55 Source

Fonterra coal Cows in a farm of dairy plant on a sunny day - optimisedNew Zealand's largest company Fonterra will to phase out use of coal power to dry milk, a practise that has been labelled 'insane'.

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Renew Economy Monday, July 22, 2019 - 12:55 Source

Fonterra coal Cows in a farm of dairy plant on a sunny day - optimisedNew Zealand's largest company Fonterra will to phase out use of coal power to dry milk, a practise that has been labelled 'insane'.

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John Quiggin Monday, July 22, 2019 - 12:46 Source

Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please. If you would like to receive my (hopefully) regular email news, please sign up using the following link

http://eepurl.com/dAv6sX You can also follow me on Twitter @JohnQuiggin, at my Facebook public page   and at my Economics in Two Lessons page

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MacroBusiness Monday, July 22, 2019 - 12:40 Source

Hong Kong keeps burning, via Bloomie: Hong Kong police fired tear gas to disperse demonstrators who had earlier surrounded China’s main local government office, as an otherwise peaceful protest march turned tense late Sunday. Clashes broke out as police attempted to clear the remnants of the latest mass rally against the government and its now-suspended

The post As Hong Kong burns, Australia kisses China booty appeared first on MacroBusiness.

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MacroBusiness Monday, July 22, 2019 - 12:15 Source

By Damien Boey at Credit Suisse: Over the past few days, we have witnessed some very confusing signals from Fed officials: Vice Chair Clarida suggested that the Fed should not wait until things get so bad to have a dramatic series of rate cuts. These comments followed and potentially reinforced dovish comments from the New

The post Fed confusion throws spanner into bond rally appeared first on MacroBusiness.

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MacroBusiness Monday, July 22, 2019 - 12:00 Source

Via Banking Day legend Ian Rogers: Arriving with baggage of his own making, Ross McEwan, NAB’s pick as its next chief executive, faces a complicated return to Australian banking. During his 4.5 years as CEO at Royal Bank of Scotland, McEwan’s handling of the bank’s recent legacy around “constructive defaults” may dog the new bank

The post Is the UK pleased to see the back of new NAB CEO? appeared first on MacroBusiness.

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Skepticlawyer Monday, July 22, 2019 - 11:59 Source

Former libertarian, now progressive, Will Wilkinson has a report up on the rural urban divide in US politics (pdf), connecting the concentration of economic production in a service economy in megacities, sorting by migration and internal movement, and cognitive patterns (particularly pertaining to Openness to Experience and, to a lesser degree, Conscientious

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MacroBusiness Monday, July 22, 2019 - 11:45 Source

Liberal MP, Julian Leeser, has hosed calls to raise Newstart, arguing that the federal budget simply cannot afford it: An increase to the dole would have a major implication for the budget bottom line at a time when there is a need for strong fiscal management, a Liberal backbencher warns. Prime Minister Scott Morrison this

The post Liberals: Newstart lift bad for Budget. But cash for retirees is great! appeared first on MacroBusiness.

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MacroBusiness Monday, July 22, 2019 - 11:30 Source

Via Bernard Keane of Crikey: The $7.8 million underpayment admitted by George Calombaris’ MADE Establishment group of companies might be eye-popping for the extraordinary size of the rip-off carried out across the group’s restaurants, but it reflects business-as-usual across the hospitality sector. Restaurants, cafes and food services outlets are one of the worst sectors for

The post Time Crikey joined the anti-immigration push for workers appeared first on MacroBusiness.

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