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Renew Economy Friday, August 7, 2020 - 11:18 Source

For all its success, there is a dark side to the big solar sector. And it came to the fore again this week when a leading sub-contractor filed for administration.

The post Hung out to dry: The dark side of big solar appeared first on RenewEconomy.

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MacroBusiness Friday, August 7, 2020 - 11:18 Source

Yeh, let it spread because Scummo says we should. Via The Lancet: Abstract Background Increasing evidence supported the possible neuro-invasion potential of SARS-CoV-2. However, no studies were conducted to explore the existence of the micro-structural changes in the central nervous system after infection. We aimed to identify the existence of potential brain micro-structural changes related

The post Lancet: COVID-19 causes long term brain damage appeared first on MacroBusiness.

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MacroBusiness Friday, August 7, 2020 - 11:00 Source

Wow. How underhanded is this? On the one hand, UNSW is busy apologising to Australians for being a CCP-Nazi apologist: The University of NSW has apologised after tweets about the Hong Kong-China situation, featuring a leading human rights expert, were deleted after an online campaign from Chinese students and media. UNSW found itself at the

The post Sandstone universities’ China maelstrom widens appeared first on MacroBusiness.

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Renew Economy Friday, August 7, 2020 - 10:50 Source

GoodWe has always maintained a Safety First policy. GoodWe’s inverter solutions are efficient, easy to install, safe, and reliable, helping you achieve a faster return on investment.

The post GoodWe: Joy to Install – PV safety first appeared first on RenewEconomy.

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MacroBusiness Friday, August 7, 2020 - 10:40 Source

The latest private sector credit data from the Reserve Bank of Australia revealed that the stock of personal credit, which was already in terminal decline, collapsed by 10.5% in the year to June – the biggest plunge in recorded history: As shown above, this decline in personal credit growth easily exceeds the troughs of the

The post Aussie households deleverage at astonishing rate appeared first on MacroBusiness.

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MacroBusiness Friday, August 7, 2020 - 10:20 Source

According to the Reserve Bank’s latest indicator lending rates, average mortgage rates have fallen to their lowest level on record at just 2.35% for 3-year fixed and 3.65% for discount variable: These are average rates of course, and much better deals – under 2% – can be gained from specific lenders, with juicy cash backs

The post A mortgage war of attrition appeared first on MacroBusiness.

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The Australian Independent Media Network Friday, August 7, 2020 - 10:00 Source

Electric cars Chris Mitchell wrote in The Australian, July 6, 2020 (pay walled) attacking the ABC again: “Panic is most obvious in reporting about climate change, where our ABC never misses an opportunity to publish wild claims no serious scientist believes.” He does not provide examples from the ABC, but he goes on to provide…

The post Climate Snippets #2 appeared first on The AIM Network.

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MacroBusiness Friday, August 7, 2020 - 10:00 Source

Via AFR: The cost of the JobKeeper wage subsidy will increase by more than $15 billion due to the hammer blow to business caused by the Victorian coronavirus crisis. The $15.6 billion JobKeeper blowout, which will take the total cost of the scheme to $102.2 billion this financial year, is due to two factors. First,

The post MOAR DoleHider easy! appeared first on MacroBusiness.

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MacroBusiness Friday, August 7, 2020 - 09:40 Source

Iron ore prices for August 6, 2020: Spot scorcher. Paper too. Steel is muted but OK. OK, so get this: Rising car and excavator sales in China further buoyed sentiment, analysts at Beijing-based Sinosteel Futures Co Ltd said in a note. “Good car sales data shows that domestic demand is improving, and excavator sales also

The post Daily iron ore price update ($130) appeared first on MacroBusiness.

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MacroBusiness Friday, August 7, 2020 - 09:20 Source

By Chris Becker  Another record high on Wall Street, pushing the risk complex even higher and really starting to diverge from other global stock markets that are doing a better job at discounting risk through the pandemic. No new fiscal measures agreed to by Congress and the White House either, going into tonight’s NFP print,

The post Macro Morning appeared first on MacroBusiness.

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Renew Economy Friday, August 7, 2020 - 09:00 Source

Michael Shellenberger has been downplaying climate risks since 2010 if not earlier - his luke-warmism is reheated.

The post Book review: Michael Shellenberger’s reheated critique of climate ‘alarmism’ appeared first on RenewEconomy.

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MacroBusiness Friday, August 7, 2020 - 09:00 Source

Let’s put aside the debate about whether or not Victoria should or shouldn’t crush the virus. Instead, let’s focus on where it is actually going right now. Victoria’s lockdown is backsliding already, under assault from rent-seekers that long ago put aside doing business for lobbying. At rentier headquarters, the AFR: The Victorian Andrews government has

The post Virus suppression will break “Australia” appeared first on MacroBusiness.

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MacroBusiness Friday, August 7, 2020 - 08:30 Source

Despite the reopening, services activity is still falling. This is a grim sign from AIG: Check this out: I find this report hard to believe. The reopening should have lifted activity in services more than this. Given there are a few N/As one wonders if AIG is adjusting it correctly. If not, we’re fooked. Full

The post Services PMI shockingly weak appeared first on MacroBusiness.

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MacroBusiness Friday, August 7, 2020 - 08:09 Source

DXY is struggling to hold support: The Australian dollar scorched everything in sight: Gold mania: Oil flamed out: Metals mania: But a GLEN shocker landed on miners: EM stock breakout: Junk fine: Yields squashed: Stocks mania though not Europe (or Australia): The only chart that matters mattered: Not much happened, via Westpac: Event Wrap US

The post Australian dollar blasts higher with iron ore blowoff appeared first on MacroBusiness.

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Grattan Blog Friday, August 7, 2020 - 08:00 Source

New Grattan Institute modelling shows that most Australians will have a comfortable retirement - even if they’ve spent some of their super early.

read more Early release of super doesn’t justify higher compulsory contributions

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The Australian Independent Media Network Friday, August 7, 2020 - 06:00 Source

As Prime Minister, Scott Morrison must take responsibility for aged care. Most people of my vintage would have had the experience, the responsibility, of seeing that your parent’s last days on earth are as serene as is humanly possible. For most it is an experience of the celebration of their life. For others the finding…

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MacroBusiness Friday, August 7, 2020 - 00:20 Source

This is incendiary stuff from Coalition stalwart, David Kemp, at the AFR: Slowing the spread of the virus was the policy announced by the Prime Minister and that Australians supported, on the basis that it was the policy of the so-called national cabinet. Unfortunately, some states opted for a political strategy of heightening community fears

The post Morrison Government lurches towards virus civil war appeared first on MacroBusiness.

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MacroBusiness Friday, August 7, 2020 - 00:12 Source

With Australia’s property market now declining, it’s an opportune time to compare this current budding correction with prior episodes. The below chart shows the various dwelling corrections over the past 30-plus years at the 5-city level, as measured by CoreLogic: As you can see, this bust is only in its infancy, with the property market

The post Australian house prices crashing at GFC pace appeared first on MacroBusiness.

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MacroBusiness Friday, August 7, 2020 - 00:10 Source

Classical economics would prescribe decades of austerity to pay off the levels of government spending seen in the COVID-19 pandemic. But there’s another way, says modern monetary theorist, Dr Steven Hail, Research Scholar at the Global Institute for Sustainable Prosperity and Economics Lecturer at Australia’s University of Adelaide. Via Struggles from Below: A recent New

The post Time for the Green New Deal appeared first on MacroBusiness.

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MacroBusiness Friday, August 7, 2020 - 00:10 Source

In the week ended 6 August 2020, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, fell another 0.15%: It was the 13th consecutive weekly decline. Falls were recorded across the three biggest capitals: Quarterly dwelling values are falling, led by Melbourne: Annual price growth remains strong but continues

The post CoreLogic weekly house price update: 13th consecutive fall appeared first on MacroBusiness.

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MacroBusiness Friday, August 7, 2020 - 00:01 Source

Global Macro / Markets / Investing: Calls Grow to Break Up Facebook, Amazon for ‘Mob-Like’ Behavior, Monopoly Power – Democracy Now Bezos sells more than $3 billion in Amazon shares – CNBC Gold keeps its shine as investors shun dollar – FT As dollar slides, some investors fret about its status as world’s reserve currency

The post Links 7 August 2020 appeared first on MacroBusiness.

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The Australian Independent Media Network Thursday, August 6, 2020 - 23:27 Source

Over 20 years ago, Paul Kelly published ‘The End of Certainty’, about power, politics and business. The title would be totally appropriate, in a broader context, today! There no longer is a ‘normal – of that we can be certain! Those currently in power are wasting their time looking back into history for a pattern…

The post Living with uncertainty appeared first on The AIM Network.

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MacroBusiness Thursday, August 6, 2020 - 16:30 Source

by Chris Becker Outside Australia, Asian stock markets are in retreat mode after being mixed yesterday as confidence fades going into tomorrow night’s NFP print, with all risk going into undollars like Yuan, Bitcoin and Yen and of course precious metals. Gold is having another stab at the $2050USD per ounce level with silver again

The post Macro Afternoon appeared first on MacroBusiness.

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The Australian Independent Media Network Thursday, August 6, 2020 - 15:57 Source

Like many writers I require a Eureka moment of insight to write an essay for the AIM Network. This morning, 6/08/2020, I found inspiration in the words of Richard Cooke. In his long-form analysis of the fate of the arts, titled A unitary theory of cuts published in the August edition of The Monthly Cooke…

The post Flag, stockade or discovery: Australia’s Eureka dilemma appeared first on The AIM Network.

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Renew Economy Thursday, August 6, 2020 - 15:35 Source

Western Australia government launches study into feasibility of producing wind turbine components locally – a first for the state and a rarity for Australia.

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Renew Economy Thursday, August 6, 2020 - 15:28 Source

Owners and developers of half a dozen solar farms are scrambling to put in place contingency measures to deal with the collapse of a leading contracting group.

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The Australian Independent Media Network Thursday, August 6, 2020 - 15:25 Source

Now I heard something rather interesting recently. Somebody said that because of all the spending associated with the pandemic, it’d be impossible for the Liberals to deliver a budget surplus. I started trying to explain why this person was wrong and then I realised the futility of what I was doing: Just like all those times…

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Renew Economy Thursday, August 6, 2020 - 14:51 Source

rooftop solar suburb rebate victoria - optimisedSA energy minister gives reassurance that no mortarium on new rooftop solar is being considered, but warns curtailment may be necessary to avoid 'negative demand'.

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Renew Economy Thursday, August 6, 2020 - 14:48 Source

tesla model 3Electric and hybrid vehicle sales remain the only bright lights in slumping Australian auto industry, but remain a tiny part of the new car market.

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MacroBusiness Thursday, August 6, 2020 - 14:20 Source

Housing Minister Michael Sukkar told a conference that housing policy will be a key component of the federal government’s 2020 Budget on 6 October. Amongst other things, extending the First Home Loan Deposit Scheme and changes to the National Housing Infrastructure Facility are believed to be under consideration. However, Sukkar has reportedly ruled out funding

The post Coalition pursues wrong kind of housing stimulus appeared first on MacroBusiness.

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