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Renew Economy Tuesday, November 13, 2018 - 11:00 Source

IEA abandons thermal coal industry, saying world must turn to wind and solar if it has any hope of getting anywhere near required climate targets.

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MacroBusiness Tuesday, November 13, 2018 - 11:00 Source

By Leith van Onselen Just when I thought we’d hit peak stupid in the negative gearing debate, along comes The Courier Mail’s Peter Gleeson with the following faeces laden argument that Labor’s policy will somehow hit battlers the most: OF ALL the destructive policies to be implemented under a Bill Shorten-led People’s Socialist Republic of

The post New winner for worst ever negative gearing reform attack appeared first on MacroBusiness.

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MacroBusiness Tuesday, November 13, 2018 - 10:45 Source

By Leith van Onselen Acadata has released its latest house price results for the UK, which shows that house price growth has fallen to its lowest level in 6.5 years: House prices rebounded in October, up 0.4% – the first increase since February. The annual rate of price increases continued to slow, however, dropping to

The post UK house price growth lowest in 6 1/2 years appeared first on MacroBusiness.

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MacroBusiness Tuesday, November 13, 2018 - 10:30 Source

So says CoreLogic’s Tim Lawless in a well considered argument at the AFR: Tim Lawless of housing data firm Corelogic said that for “the first time in forever” there was a potential split among top regulators that make up the Council of Financial Regulators in how to deal with a declining property market. While the

The post RBA and Treasury versus APRA and ASIC? appeared first on MacroBusiness.

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MacroBusiness Tuesday, November 13, 2018 - 10:30 Source

By Leith van Onselen CoreLogic is dialling up the warnings about Australia’s budding housing bust. After Friday’s disastrous housing finance figures, which showed both owner-occupied finance crashing, Cameron Kusher predicted both housing growth and sales will take another leg down: Given the ongoing declines in dwelling values, particularly in Sydney and Melbourne, and the now apparent

The post CoreLogic: Worst yet to come for Aussie housing market appeared first on MacroBusiness.

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The Tally Room Tuesday, November 13, 2018 - 10:30 Source

The group voting tickets were released on Sunday, showing how each party will direct its preferences for votes cast above-the-line in each region for the Victorian Legislative Council.

For those still catching up, this is basically the same system used for the Senate up to 2013 (although it is easier to cast a formal below-the-line vote if you wish to opt out). The upper house consists of forty members, with five elected for each of the eight regions.

There are eighteen parties running in every region, with only a handful of candidates standing outside of these groups.

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MacroBusiness Tuesday, November 13, 2018 - 10:15 Source

Is the Pope a Catholic? First, via The Australian: Bill Shorten has defended Premier Daniel Andrews for joining China’s Belt and Road Initiative, arguing the deal was part of the “normal day to day work” of state politicians. The Opposition Leader said he was not surprised Mr Andrews released the memorandum of understanding over the

The post Is Labor riven by China? appeared first on MacroBusiness.

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MacroBusiness Tuesday, November 13, 2018 - 10:00 Source

Via The Australian: An exclusive Newspoll conduct­ed for The Australian reveale­d a seven-point fall in suppor­t for Mr Shorten’s centrepiece housing policy amid a softening market, although backer­s of Labor’s tax overhaul still outweigh opponents by 47 to 33 per cent. Of those surveyed, 42 per cent believed the policy would cause house prices to

The post Negative gearing reform polling still strong appeared first on MacroBusiness.

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MacroBusiness Tuesday, November 13, 2018 - 09:45 Source

Via the AFR: Melbourne housing lot prices will “quickly” tumble up to 10 per cent as Uber-driving speculators and foreign investors default on thousands of sales contracts, Financial Review Rich Lister Nigel Satterley has warned. …”We believe that over the next 30 months 5000 growth-area lots (about 165 lots a month) will return to the

The post Melbourne land bust builds appeared first on MacroBusiness.

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MacroBusiness Tuesday, November 13, 2018 - 09:30 Source

Yet to put the words “macro” and “prudential” into a single sentence, Professor Warwick McKibbin is still demanding higher interest rates, at the AFR: “My view is that interest rates should have been raised at least a year ago to 2 per cent to 2.25 per cent,” Professor McKibbin, a globally recognised macroeconomist based at

The post Yawn: McKibbin demands higher interest rates appeared first on MacroBusiness.

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MacroBusiness Tuesday, November 13, 2018 - 09:15 Source

King Dollar is back. CNY was weak. EUR cracked a big head and shoulders pattern: AUD was thumped versus USD and JPY, rose against EUR and GBP: It was a mix versus EMs: Gold was hammered: Oil waltzed straight through OPEC cuts: Base metals were mixed but copper fell: Big Miners were hit: EM stocks

The post Tumbling euro anvil lands on Australian dollar appeared first on MacroBusiness.

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MacroBusiness Tuesday, November 13, 2018 - 09:00 Source

By Chris Becker A poor start to the trading week for overnight markets with US stocks selling off sharply on the back of tech giant Apple and confounded by falling oil prices that are hurting energy stocks. Brexit negotiations are also fouling up the roost in Europe while the USD is soaring against the major

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Tuesday, November 13, 2018 - 09:00 Source

Iron ore prices for November 12, 2018: Spot eased. Paper rallied. Steel is breaking. Ferrous complex looks ripe for shunt lower here.

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

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Poll Bludger Tuesday, November 13, 2018 - 00:55 Source

Two Victorian election seat polls suggest a repeat of cliffhanger results from 2014.

The post YouGov Galaxy: 52-48 to Labor in Mordialloc, 51-49 in Frankston appeared first on The Poll Bludger.

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MacroBusiness Tuesday, November 13, 2018 - 00:20 Source

By Leith van Onselen It’s been amazing watching Scott Morrison’s speedy transformation from mass immigration ‘Big Australia’ defender to a sceptic on the verge of slashing the permanent migrant intake. As recently as four months ago, Scott Morrison lambasted Tony Abbott’s push to cut the migrant intake to 110,000, warning it risked Australia’s future economic

The post Scott Morrison’s immigration capitulation is nearly complete appeared first on MacroBusiness.

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MacroBusiness Tuesday, November 13, 2018 - 00:15 Source

By Leith van Onselen I know Stephen Koukoulas is a Labor guy and is a good team player, but he’s drawing a long bow suggesting that Labor’s negative gearing and capital gains tac (CGT) might actually “put a floor on house prices”: The government is claiming that the negative gearing change will “take a sledgehammer”,

The post The Kouk: Negative gearing reform to “put a floor on house prices”! appeared first on MacroBusiness.

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MacroBusiness Tuesday, November 13, 2018 - 00:15 Source

CoreLogic’s weekly housing indicators are fugly today. Mortgage credit is fading when it should be surging: Listings are ripping towards 2012 highs:   And auction failure is now near universal having spread from suburbs to inner city and out to neighbouring centres: The bust is still clearly building momentum. Full report.  

The post CoreLogic fugly: Mortgages sag, listings rocket, auction fails widen appeared first on MacroBusiness.

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MacroBusiness Tuesday, November 13, 2018 - 00:06 Source

Via Westpac: Chinese steel, iron ore and coal Chinese environmental policies have boosted the demand for higher grades of iron ore but in the long run they may drive a structural shift in demand. Chinese mills are increasingly using scrap steel as its supply grows with more buildings being torn down, more cars crushed and

The post Australia’s bulk commodity forecasts for 2019 appeared first on MacroBusiness.

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MacroBusiness Tuesday, November 13, 2018 - 00:05 Source

The Council of Foreign Relations has some bad news for Australia: Over the past two years, as our left-hand figure above shows, foreign portfolio investors have piled prodigiously into Chinese assets, helping to support the RMB. But history suggests this trend is about to reverse. While inflows have been rising, Chinese stocks have been tumbling—they are

The post A new China shock brews for Australia appeared first on MacroBusiness.

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MacroBusiness Tuesday, November 13, 2018 - 00:01 Source

Global Macro / Markets / Investing: The CEO obsession with bitcoin and blockchain is over – Axios Clever Map Shows the True Size of Countries – Visual Capitalist Be Afraid of Economic ‘Bigness.’ Be Very Afraid – NY Times Why “Qualified Opportunity Zones” May Be the Next Hot Thing in Investing – Barron’s Elon Musk

The post Links 13 November 2018 appeared first on MacroBusiness.

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The Australian Independent Media Network Monday, November 12, 2018 - 18:23 Source

By Dr Strobe Driver Normally I restrict my opinions to international relations issues with a particular emphasis on war and conflict however, the arrival of Malcolm Turnbull on the ABC’s Q&A programme made me want to offer a possibility of Malcolm being the ‘comeback kid,’ a term that was originally applied to Bill Clinton. So I suppose…

The post Hell hath no fury: The makings of a Turnbull return appeared first on The AIM Network.

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Renew Economy Monday, November 12, 2018 - 17:35 Source

New South Wales Coalition govt unveils grid upgrade plan, to accommodate the “flood” of new renewable energy capacity in the state's development pipeline.

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MacroBusiness Monday, November 12, 2018 - 17:30 Source

It’s been a steady start to the week for equity markets here in Asia following the minor slump on Friday night in the US. Chinese stocks lead the way while Japanese bourses paused again despite a much lower Yen. The USD remains on a high against the major currency pairs while OPEC and other oil

The post Macro Afternoon appeared first on MacroBusiness.

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Poll Bludger Monday, November 12, 2018 - 17:18 Source

Group voting tickets have been unveiled in Victoria, one of the two jurisdictions that persists with them.

The post Victorian election: upper house preference tickets appeared first on The Poll Bludger.

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The Australian Independent Media Network Monday, November 12, 2018 - 16:14 Source

Those in the war industry and the business of commemorating the dead have little time for peace, even as they supposedly celebrate it. For them, peace is the enemy as much as armed opposing combatants, if not more so. Dr Brendan Nelson of the Australian War Memorial is every bit the propagandist in this regard,…

The post Remembering the Peace Makers: What the Armistice Commemorations Forgot appeared first on The AIM Network.

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Renew Economy Monday, November 12, 2018 - 15:31 Source

Victoria Coalition proposes support for brown coal generators and a tender for new "24/7" power source. But the numbers don't make sense.

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Renew Economy Monday, November 12, 2018 - 15:30 Source

Clean Energy Council slams federal government plan to underwrite new dispatchable generation, saying it grossly distorts ACCC recommendations in favour of coal-fired generation.

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MacroBusiness Monday, November 12, 2018 - 15:00 Source

By Leith van Onselen The Productivity Commission’s (PC) landmark 500-plus page draft report on Australia’s $2.6 trillion superannuation industry explicitly recommended abolishing compulsory life insurance for people aged under-25: Current settings are more a function of history than considered policy design. …many entrenched problems remain (and insurance accounts for over a third of member complaints

The post Life insurance parasite demands its super subsidy appeared first on MacroBusiness.

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The Australian Independent Media Network Monday, November 12, 2018 - 14:30 Source

So the Liberal Party has hired a bus as a new toy for PM Scott Morrison. As a special gesture, they have also arranged for the bus to be covered in advertising so no one can mistake who is on the bus. The initial run for the bus is from the Gold Coast to Townsville located…

The post Morrison’s latest prop appeared first on The AIM Network.

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MacroBusiness Monday, November 12, 2018 - 14:30 Source

By Leith van Onselen It’s become clear that the Morrison Government’s moral compass has broken with its decision to halve funding to charity Foodbank, which provides meals to 710,000 needy Australians: Foodbank says funding for its Key Staples program, which makes sure essential supplies like rice, bread and vegetables get to hungry people, will drop

The post Cruel Coalition halves funding for charity feeding 710,000 people appeared first on MacroBusiness.

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