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MacroBusiness Wednesday, February 20, 2019 - 10:30 Source

Go Bernie! What an immense relief to see a left candidate that knows wining is about addressing class politics NOT identity politics.

The post Bernie Sanders enters US presidential race appeared first on MacroBusiness.

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MacroBusiness Wednesday, February 20, 2019 - 10:15 Source

By Leith van Onselen The latest NAB survey: And the latest FIRB report for 2017-18: Both showed a collapse in foreign buyer demand, particularly from China. Today, The AFR reports that property values in suburbs that were once hotbeds for Chinese investment are plummeting: Houses in the suburb of Penshurst, 17 kilometres south of Sydney’s

The post “No more Chinese” crashing property appeared first on MacroBusiness.

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MacroBusiness Wednesday, February 20, 2019 - 10:00 Source

Via The Australian: The Greens face an electoral backlash as voters concerned about climate change and asylum-seekers — and enticed by Bill Shorten’s softer policy agenda — refuse to shift their support to a minor party beset by dysfunctional campaigning and infighting. Private polling from the major parties shows the Greens’ national vote remains below

The post Fake Greens headed for doom appeared first on MacroBusiness.

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MacroBusiness Wednesday, February 20, 2019 - 09:53 Source

Another weak consumer signal: One wonders how much of the late year crash was local consumers or whether its the leading edge of a Chinese visitor slowdown as well.

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MacroBusiness Wednesday, February 20, 2019 - 09:45 Source

Via the AFR: The chief executives of the four big banks will be made to face Parliament twice a year to report on progress in implementing the banking royal commission reforms, as part of a boosted accountability regime Labor will introduce if it wins the election. As well, the banks, the regulators ASIC and APRA

The post Pussy Labor prepares to roll on broker reform appeared first on MacroBusiness.

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MacroBusiness Wednesday, February 20, 2019 - 09:33 Source

More weakening consumer: Not too bad but with population growth of 1.6% and inflation at 1.8% same store sales of 3.5% is clearly stalling.

The post Dominos misses as consumers pull pizza appeared first on MacroBusiness.

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MacroBusiness Wednesday, February 20, 2019 - 09:30 Source

Not involved in any succession arrangements: Emigration looms as an option.  

The post Bravo: Humiliation of Ken Henry complete appeared first on MacroBusiness.

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MacroBusiness Wednesday, February 20, 2019 - 09:15 Source

Via Martin North today: We have updated our scenarios to take account of a range of new data, and the latest input from our household surveys. A peak to trough fall of 20-30% over 2-3 years remains our base case, but with risks to the downside. On the other hand the RBA’s base case gets

The post RBA house price scenario has 1% chance of success appeared first on MacroBusiness.

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MacroBusiness Wednesday, February 20, 2019 - 09:00 Source

Iron ore prices for February 19, 2019: Looks like for now Vale is priced given the overnight news did not support the market. Unless we see some more materially damaging developments, weakening Chinese demand may begin to ease prices henceforth.

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

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MacroBusiness Wednesday, February 20, 2019 - 08:18 Source

DXY sank last nigh as CNY and EUR rallied: The Australian dollar jumped across the board: Gold pumped too: Oil firmed: Even copper joined the party: Big miners powered: EM stocks lifted: Junk led the way: Treasuries were bid: And bunds: So too stocks: It was an evening dominated by two news points. The first

The post Europe and China launch Australian dollar appeared first on MacroBusiness.

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MacroBusiness Wednesday, February 20, 2019 - 08:06 Source

By Chris Becker  The return of Wall Street saw risk markets nudge a little higher while a surge in USD weakness due to the leaked concerns of the US trade delegation for a more stable Yuan saw major pairs move swiftly against King Dollar, which should provide a headwind to Asian stocks here today. Looking first

The post Macro Morning appeared first on MacroBusiness.

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The Tally Room Wednesday, February 20, 2019 - 06:43 Source

Ben was joined by Macquarie University’s Ben Spies-Butcher and the Guardian’s Gabrielle Chan to discuss the rural contest in the NSW state election and the impact of the recent High Court decision on election funding laws.

We discussed Gabi’s new book Rusted Off.

Thanks to 2SER radio in Sydney for the use of their studio.

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The Australian Independent Media Network Wednesday, February 20, 2019 - 00:56 Source

Whilst we all bemoan the greed and power of corporations and the damage that the relentless pursuit of profit can cause, or the division that fanatical nationalism or religious adherence creates, or the insidious corruption that permeates society, or the environmental degradation caused by indiscriminate growth, politicians are ultimately the ones who make the rules. …

The post Politicians create problems rather than solve them appeared first on The AIM Network.

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MacroBusiness Wednesday, February 20, 2019 - 00:20 Source

For fifteen years it lay low. A peaceful rise it said. Benefits to all it said. Open and fair trade for all it said. One economy and two systems it said. Either it was lies all along or something has gone horribly wrong because China’s mask of friendliness has now dropped off. In its place

The post China declares economic war on Australia appeared first on MacroBusiness.

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MacroBusiness Wednesday, February 20, 2019 - 00:15 Source

Via Bill Evans at Westpac: The minutes of the Reserve Bank Board meeting for February have largely confirmed the themes which were set out in the February Statement on Monetary Policy. Key to these themes is “the probabilities around these scenarios were now more evenly balanced than they had been over the preceding year when

The post Bill Evans: RBA handle on house prices “tenuous” appeared first on MacroBusiness.

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MacroBusiness Wednesday, February 20, 2019 - 00:15 Source

By Leith van Onselen Glenn Docherty, chair of the National Growth Areas Alliance, penned a disturbing article in Fairfax claiming that five million Aussies living in Australia’s outer-suburban areas have been left without adequate access to infrastructure or services as Australia’s population has ballooned: …for nearly one fifth of Australia’s population, the federal government’s piecemeal approach

The post 5 million Aussies left behind by mass immigration disaster appeared first on MacroBusiness.

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MacroBusiness Wednesday, February 20, 2019 - 00:10 Source

By Leith van Onselen The NSW Office of State Revenue has released stamp duty data to January, which reveals a $1.4 billion (20%) decline over the past year and a $1.6 billion (22%) decline since stamp duty receipts peaked in October 2017: The latest retracement in stamp duty receipts follows a sharp 17% decline in

The post NSW stamp duty ponzi implodes appeared first on MacroBusiness.

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MacroBusiness Wednesday, February 20, 2019 - 00:01 Source

Global Macro / Markets / Investing: The Bank for Japanese Farmers That Fuels the Global Lending Market – WSJ Global Slowdown Leaves Growth Weakest Since Financial Crisis – Bloomberg The perils of Big Data: How crunching numbers can lead to moral blunders – Washington Post Americas: Elizabeth Warren To Unveil Major New Child Care Initiative

The post Links 20 February 2019 appeared first on MacroBusiness.

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Renew Economy Tuesday, February 19, 2019 - 20:42 Source

Yes, the headline is a bit of a tease and quite unthinkable, of course. Or maybe…?

The post Could Amazon buy up BMW in push to electric? appeared first on RenewEconomy.

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Renew Economy Tuesday, February 19, 2019 - 20:37 Source

New type of electric car technology using combination of battery and hydrogen power could allow a passenger car to travel over 5000km, only stopping to quickly refill battery fluid.

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En Passant Tuesday, February 19, 2019 - 20:28 Source

The Paladin Group is a small company with a shack on Kangaroo Island – until last week – as its head office.

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The Australian Independent Media Network Tuesday, February 19, 2019 - 20:15 Source

By Andrew Richey   ABC Interviewer: PM, do you believe that this government has done enough on climate change? PM Morrison: Well first of all, Leigh… can I call you Leigh? ABC Interviewer:  Yes but it’s not my name. PM Morrison: Well, Leigh, climate change has been around since the dawn of time… since Noah and…

The post An Interview with the Prime Minister Scott Morrison appeared first on The AIM Network.

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The Australian Independent Media Network Tuesday, February 19, 2019 - 19:30 Source

The aircraft business has always been a dear affair. More than other forms of transport, it remains susceptible to oscillating costs (materials, fuel), ever at the mercy of the uncontrollable. The Airbus A380 was meant to be a giant’s contribution to aviation. In time, its makers came to the conclusion that the bird had already…

The post Size Matters: The Demise of the A380 appeared first on The AIM Network.

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MacroBusiness Tuesday, February 19, 2019 - 17:02 Source

Asian stocks could not build on their boisterous start to the week with a flat session across the region due to the lack of lead from US markets which were closed overnight. The USD surged however with all pairs falling including Yuan which the PBOC again weakened. The Shanghai Composite is basically flat, down about

The post Macro Afternoon appeared first on MacroBusiness.

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John Quiggin Tuesday, February 19, 2019 - 16:53 Source

I’m not a big fan of political scandals. Still, it has to mean something when there are too many simultaneous scandals going on for anyone to keep track. Rather than attempt a summary, I’ll list some of the government figures currently involved in one or more scandals that would normally be expected to produce a resignation from office or Parliament: Cash, Cormann, Dutton, Hockey, Keenan, Wilson, Price [feel free to challenge these names, or add others, in comments]. The only comparable situation I can think of is the dying days of the last NSW Labor government.

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Renew Economy Tuesday, February 19, 2019 - 14:38 Source

Viva Energy announces PPA with Acciona Energy to source around one-third of its electricity a year from the nearby 132MW Mt Gellibrand wind farm.

The post Mt Gellibrand wind farm to help power Geelong refinery appeared first on RenewEconomy.

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MacroBusiness Tuesday, February 19, 2019 - 14:30 Source

By Leith van Onselen The Coalition Government has been a curse for Australia’s unemployed. In addition to refusing to lift Australia’s disgracefully low Newstart Allowance: The Coalition’s $65 million a year Work-for-the-Dole program has been an unmitigated failure, whereas its Youth-Jobs PaTH program has become a slave labour scheme in disguise. Now we can add

The post Unemployed punished by ‘punitive’ Jobactive program appeared first on MacroBusiness.

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Cheeseburger Gothic Tuesday, February 19, 2019 - 14:23 Source

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Renew Economy Tuesday, February 19, 2019 - 13:55 Source

The Australian launches a new attack on rooftop solar subsidies, but forgets to do some basic maths and fact-checking.

The post Murdoch media attacks rooftop solar, gets its numbers hopelessly wrong appeared first on RenewEconomy.

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MacroBusiness Tuesday, February 19, 2019 - 13:45 Source

By Leith van Onselen With just over a month until the NSW Election, it’s raining pork. From The Australian: NSW Premier Gladys Berejiklian [is] making more than $6 billion worth of promises in recurrent spending so far as she seeks to buy her way to a third term of ­Coalition government. Labor has matched most

The post NSW election campaign turns into a spendathon appeared first on MacroBusiness.

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