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MacroBusiness Tuesday, May 30, 2017 - 08:29 Source

By Chris Becker   Subdued risk markets overnight as both UK and US markets were closed for holidays, leaving Europe to fend for itself. Italian markets fell on news of a possible early election and while Pound Sterling rallied, the Euro retreated to its lowest level in over a week as volume trailed off. Wrapping

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 30, 2017 - 08:24 Source

Parliament tried to find it yesterday: Treasury secretary John Fraser declined to indicate what level of household debt would represent a grave threat to the nation’s economy, saying his department’s priority was to monitor the problem. During more than three hours of Senate estimates testimony Mr Fraser repeatedly warned that the use of debt was

The post Where is the Aussie bubble tipping point? appeared first on MacroBusiness.

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Your Democracy Tuesday, May 30, 2017 - 06:56 Source

on a tiny, tiny, tiny little man ...

He called it the best nine days of his Presidency.

“Just returned from Europe. Trip was a great success for America. Hard work but big results!”

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Your Democracy Tuesday, May 30, 2017 - 06:43 Source
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Renew Economy Tuesday, May 30, 2017 - 06:32 Source

Solar accounted for 3.2% of total generation in Australia last year, and its big rise will continue to 30% by 2030 and more than 50% by 2050.

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The Australian Independent Media Network Tuesday, May 30, 2017 - 05:55 Source

Tuesday 30 May 2017. He called it the best nine days of his Presidency. “Just returned from Europe. Trip was a great success for America. Hard work but big results!” The world saw it as 9 days of buffoonery by a man ill prepared to mix it with world leaders. The highlight was when he…

The post Day to Day Politics: The Trump Report No. 16 … 9 days of mayhem. appeared first on The AIM Network.

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MacroBusiness Tuesday, May 30, 2017 - 04:04 Source

Has anyone noticed how MB is no longer the local “doomsayer”? Via AFR: Australian asset manager Altair Asset Management has made the extraordinary decision to liquidate its Australian shares funds and return “hundreds of millions” of dollars back to its clients, citing an impending property market “calamity” and the “overvalued and dangerous time in this

The post Aussie fundie liquidates citing imminent bubble bust “calamity” appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 30, 2017 - 04:03 Source

By Leith van Onselen The Australian’s Judith Sloan has penned a great piece today highlighting the Turnbull Government’s Budget housing affordability sham and arguing that if the Coalition truly cared about the issue, then it would have slashed immigration: Last week, Michael Sukkar, Assistant Minister to the Treasurer, wrote a feeble op-ed article outlining what

The post Sloan slams immigration addiction, housing affordability “sham” appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 30, 2017 - 00:20 Source

Yesterday S&P released a new report comparing Australia and Canada, explaining why it see the former as a much weaker AAA sovereign than the latter. Strong Institutions And Governance Effectiveness We consider Australia and Canada’s institutional arrangements and governance effectiveness to be key strengths. Both countries are federal parliamentary democracies supported by strong institutions and the

The post S&P is setting the scene to downgrade Australia appeared first on MacroBusiness.

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North Coast Voices Tuesday, May 30, 2017 - 00:16 Source

This is what happens when a government senator with an inflated sense of his own importance and few manners is chair during a Senate Estimates hearing........The Sydney Morning Herald, 25 May 2017:      3:26pmSenator Macdonald tried to order Greens senator Nick McKim to leave the committee, which he doesn't have the power to do."I will not be leaving," Senator McKim says."You can't make me leave, mate. I'm not going.

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MacroBusiness Tuesday, May 30, 2017 - 00:15 Source

By Leith van Onselen As Melbourne’s population surges by a projected 97,000 people a year to 8 million mid-century: Melbourne’s commuting future has been revealed, with new sardine-configuration trains to enter service from mid-2019. From The Age: The days of getting a seat on a Melbourne train will soon be replaced by the kind of

The post Melbourne’s sardine can future revealed appeared first on MacroBusiness.

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North Coast Voices Tuesday, May 30, 2017 - 00:15 Source

“The average global temperature for April 2017 was 1.62 degrees F above the 20th-century average of 56.7 degrees, according to the analysis by scientists from NOAA’s National Centers for Environmental Information.

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MacroBusiness Tuesday, May 30, 2017 - 00:12 Source

By Leith van Onselen There are arguably few better businesses to be in than Australian superannuation. Thanks to compulsory contributions, set at 9.5% of employee wages currently, along with a largely fixed cost structure, the superannuation industry continues to rake it in, earning fat fees on everyone’s retirement nest egg. Nowhere is this cozy arrangement

The post Banks’ superannuation fee gouge rolls on appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 30, 2017 - 00:10 Source

By Leith van Onselen Fairfax’s Ross Gittins penned an excellent article yesterday on the inefficiencies of Australia’s demand-driven university system, which is churning out way too many graduates, costing the Budget a fortune, and leading to bloated bureaucracies: In an ideal world we’d be investing more in our universities, but our world is far from

The post Australia’s failing demand-driven uni system appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 30, 2017 - 00:09 Source

As a kid I loved watching the artistry of failure mastered by Greg Norman. The human frailty he brought to golf was so much more compelling than the game itself. Those early morning Masters disasters punctuated my youth like commandments from some hursuit and stinking mountain-top hermit. But he’s going to have to move over

The post Love your work, Tiger appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 30, 2017 - 00:06 Source

All so very predictable: BHP Billiton and Rio Tinto will seek clarification about the future of iron ore taxes in meetings with the West Australian government over the next 48 hours, after premier Mark McGowan softened his stance on extracting “billions of dollars” from the miners on Monday. Just days after flagging his desire for

The post Everyone in WA will have to pay appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 30, 2017 - 00:06 Source

I’m no great fan of Glencore but I sympathise today as the miracle economy works its magic: Mining giant Glencore has handed the Queensland Labor government a fresh election-year headache by threatening to wind up its extensive copper operations in the state’s north in a year in a move that could cost up to 2000 jobs.

The post Glencore draws exit plan from Dumbstralia appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 30, 2017 - 00:05 Source

Most markets were closed. Benchmark was unchanged. Qingdao rose a bit to $58.50. Permabull Mark Mobius remains…bullish: Iron ore consumption in China will probably be sustained as Asia’s top economy builds out infrastructure, according to Mark Mobius, who highlighted what he sees as a difference between the industry’s relatively stable supply-demand fundamentals and large swings in

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

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MacroBusiness Tuesday, May 30, 2017 - 00:01 Source

Global Macro / Markets / Investing: This was a big week for blockchain – Venture Beat How much will it cost to mitigate climate change? – Our World in Data Bank resolution: The importance of a public backstop – VOX World Trade Flows Suggest Strong Economic Growth This Year – WSJ Bitcoin Has Come Roaring Back—But So Have the

The post Links 30 May 2017 appeared first on MacroBusiness.

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En Passant Monday, May 29, 2017 - 22:51 Source

Batter down the richest door

Mateship sailed, soiled,
The myth of men,
Of outback fuckers
In a world of cities
And out of luckers

The equality of fools
Of shared nothing
The solidarity of tools
Honed on the loneliness
Of space

The great white plains
That exist in heads alone
Explain too much
And so cannot be
Explained

Howard’s beggars
Line their streets
The neat array
Of destitutes
Denied a life
For profits call
A shadowed hope
A tortured fall

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Club Troppo Monday, May 29, 2017 - 21:04 Source
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Poll Bludger Monday, May 29, 2017 - 20:16 Source

With ten days left before the general election, Labour’s recovery in Britain, at least as measured by the polls, has reached an extent sufficient to cause the Conservatives real alarm. Since I last conducted this exercise a week ago, the Conservatives have dropped another 1.8% to hit 43.9%, while Labour is up 2.6% to 35.4%. This leaves both parties well up on their totals at the 2015 election, which were 36.9% and 30.4% respectively.

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En Passant Monday, May 29, 2017 - 19:56 Source

The 2017 Rich List is out and no amount of “philanthropy” from those who pay little or no tax can disguise Australia’s disproportionate wealth divisions, I write in Independent Australia.

 

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The Australian Independent Media Network Monday, May 29, 2017 - 18:56 Source

The Murrin Murrin Joint Venture is a nickel-cobalt mining operation in the Goldfields-Esperance region of Western Australia, approximately 45 km east of the town of Leonora. Australia has the highest rate of Indigenous suicide in the world. Leonora has one the highest rates of Indigenous suicide in Australia. A $1 million community fund aimed at supporting…

The post When $400 million isn’t enough appeared first on The AIM Network.

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John Quiggin Monday, May 29, 2017 - 18:54 Source

Here’s the third of my planned weekly emails. If you want to be on the recipient list email me at j.quiggin@uq.edu.au (preferred) or put in a request in the comments section. If you expected to get an email and didn’t, please contact me.

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Under The Milky Way Monday, May 29, 2017 - 18:48 Source

The Mormon Church claims to be a Christian Church. In this post I will use Biblical criteria to evaluate Mormon teaching and practices. We will see that the Mormon Church is not Christian.

The table below compares key Mormon beliefs with Biblical criteria for a false gospel. We can see that Mormonism is clearly a false gospel and is Satanically inspired.

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The Australian Independent Media Network Monday, May 29, 2017 - 18:37 Source

Now, I know that a lot of the discussion on this has been a bit of a distraction. We’ve heard about enviromentalists using the courts to hold up the mine. (Not Margaret… we’re boycotting her!) We’ve heard the wonderful oxymoron “vigilante litigation”. We’ve heard that the indigenous people concerned are completely behind the mine… apart…

The post Perhaps If We Pay Adani To Take Our Coal Away… appeared first on The AIM Network.

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MacroBusiness Monday, May 29, 2017 - 16:52 Source

by Chris Becker A very slow day in Asia as volumes retreat in anticipation of the UK and US holidays tonight, while mainland Chinese markets were closed, currency markets are in a holding pattern. In China the Shanghai Composite was closed while the Hong Kong based Hang Seng Index barely ticked up to remain just over

The post Macro Afternoon appeared first on MacroBusiness.

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Club Troppo Monday, May 29, 2017 - 16:24 Source


Cognitive biases: Choose your poison

Cross posted from the Mandarin.

Introduction

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The Australian Independent Media Network Monday, May 29, 2017 - 16:22 Source

  While Donald Trump’s “Dancing with Swords” world tour of five nations, featuring an in-house Saudi arms bazaar, is a shot in the arm for Sunni Muslims and a boon to Wahhabist fundamentalists everywhere, his gratuitous insult to Nato and the other 194 nations who have also signed the Paris Climate Accord has commentators scratching…

The post Trump’s unplugged tour will bury his presidency. appeared first on The AIM Network.

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