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MacroBusiness Tuesday, May 21, 2019 - 11:00 Source

Via the AFR: Prime Minister Scott Morrison, who spent the day bunkered in meetings and planning his new cabinet, shot down suggestions that he should adopt policy beyond what he took to the election, including in the energy sector. This is despite calls from business and some in his own party to embrace a more

The post Can Do-Nothing ScoMo do Keynesian stimulus? appeared first on MacroBusiness.

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Renew Economy Tuesday, May 21, 2019 - 10:53 Source

Is Australia’s clean energy transition about to come to a crashing halt, or just hit a pause as the Coalition turns focus to coal? Clean Energy Council’s Kane Thornton discusses Morrison’s big win.

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MacroBusiness Tuesday, May 21, 2019 - 10:47 Source

Fresh from Deep T, MB’s big time banking insider: You have no idea of the smugness of the whole mortgage industry. Brokers won and its back to normal pumping debt. Banks and funders will now pump up the amount of debt on serviceability to unsuspecting borrowers. Not solutions just can kicking to a worse disaster.

The post Deep T. versus Chris Joye on APRA cuts and house prices appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 21, 2019 - 10:45 Source

Last year it became apparent that Melbourne’s house and land market had become an giant bubble after the median pricefor a housing lot hit $339,000 – up 21% in only 12 months – with steeper rises in the cost per square metre: In August 2018, the panic began to set in with land speculators rushing for the exits: Speculators who

The post Melbourne’s McMansion mushroom cloud rises into MSM appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 21, 2019 - 10:30 Source

By Leith van Onselen Labor had planned to ban trailing commissions for mortgage brokers from 1 July 2020, so its defeat at the federal election has been welcomed by the mortgage broking sector. The Hayne royal commission had recommended that trailing commissions be abolished and that banks stop paying upfront commissions to brokers. Labor had

The post Mortgage brokers rejoice at re-election of Property Council PM appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 21, 2019 - 10:15 Source

By Leith van Onselen Tax cuts announced by the Morrison Government in the April Federal Budget are likely to be delayed until 30 June 2020 because Parliament is unlikely to resume in time to pass the measures. From ABC News: Tax cuts of up to $1,080 per person will likely be delayed for another year

The post Coalition tax cuts face one year delay appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 21, 2019 - 10:00 Source

By Leith van Onselen While residents of Sydney and Melbourne are suffering from crush-loaded roads, trains, schools, and hospitals, as well as hideously expensive housing, toll road companies like Transurban are making out like bandits. Earlier this year, ABC News reported that Sydney’s toll road network is the most expensive and extensive in the world:

The post Motorists gouged by escalating toll road charges appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 21, 2019 - 09:45 Source

Shadow Treasurer Chris Bowen has just thrown his hat into the ring to contest Labor’s leadership, turning it into a three horse race between him, Anthony Albanese and Jim Chalmers. From The Australian: The Australian has confirmed Chris Bowen will run as the Right candidate for the Labor leadership… Labor frontbencher Anthony Albanese has brushed

The post Labor leadership turns into three horse race appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 21, 2019 - 09:45 Source

Iron ore prices for May 20, 2019: Spot unchanged. Paper down. Steel stable. Rebar inventories are drawing at the same pace as last year indicating good demand. Iron or port stocks fell more slowly to 131.7mt but more falls are ahead unless Brucutu returns.

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

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MacroBusiness Tuesday, May 21, 2019 - 09:40 Source

And that’s how it long it took for our corrupt system to turn itself around: The Australian Prudential Regulation Authority (APRA) has begun consulting on possible revisions to its guidance on the serviceability assessments that authorised deposit-taking institutions (ADIs) perform on residential mortgage loan applications. In a letter to ADIs issued today, APRA has proposed

The post Bubble on? APRA to cut mortgage servicing requirments appeared first on MacroBusiness.

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THE BLOT REPORT Tuesday, May 21, 2019 - 09:33 Source

In an analysis of the election
result of May 18, Samantha Maiden, stating that the Labor Party was “trounced
on Saturday night”. While use of the word ‘trounced’ would indicate some sort
of electoral landslide, the Labor Party overall lost only a few seats, such
that the Coalition will now have a majority of a couple of seats in the House
of Representatives. Hardly a trouncing. Perhaps the most pathetic item in
Maiden’s analysis is her effective parroting of the Liberal lie of the Labor’s dividend
imputation refund plan as a “retiree tax”, which she did with the phrase “dividend

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MacroBusiness Tuesday, May 21, 2019 - 09:15 Source

I’ve tried my hardest but have failed and the result us upon us, at the AFR: A gas price cut is required for Queensland’s Gibson Island fertiliser plant to avoid closure this year, with owner Incitec Pivot urging the re-elected Morrison Government to ensure gas was ”available and affordable” for Australian manufacturers. Uncertainty over the

The post Manufacturing should leave Australia appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 21, 2019 - 09:00 Source

DXY eased last night: The Australian dollar was up across the board but faded the election gains: Gold was stable: Oil mixed: Metals fell: And miners: EM stocks look weak: Junk faded: Treasury yields rose: And bunds: Plus Aussie bonds: Stocks sold off moderately and look in jeopardy of more: Westpac has the warp: Event

The post Australian dollar falls as Trump declares China containment appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 21, 2019 - 08:30 Source

By Chris Becker  US/China trade tensions are spiking again, this time on the hullabaloo around Huawei with tech stocks sinking overnight, dragging down industrials and taking away most of any remaining risk confidence. Interest rate and currency markets were more benign but the USD remains firm across all undollars, with the Australian dollar rolling over post

The post Macro Morning appeared first on MacroBusiness.

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Renew Economy Tuesday, May 21, 2019 - 08:29 Source

Spanish renewables group Acciona adds organic solar PV panels to towers of wind turbines and may add batteries too.

The post Acciona trials organic solar PV on wind turbines appeared first on RenewEconomy.

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The Tally Room Tuesday, May 21, 2019 - 08:00 Source

For today’s post I’ve put together a detailed map showing the two-candidate-preferred (2CP) vote in every booth across the country.

The map can be toggled between the swings and the total vote in each booth. Most booths are based on a Labor vs Coalition 2CP (red and blue respectively) but in some places the 2CP includes the Greens (in green) or others (Centre Alliance, Katter’s Australian Party, One Nation and independents, in orange).

This was something I’d been planning but I admit to being reminded of it by this map produced by Nathan Ruser.

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MacroBusiness Tuesday, May 21, 2019 - 07:07 Source

Via The Australian comes Steve Bannon: Donald Trump’s former chief strategist Steve Bannon says Labor’s Bill Shorten “snatched ­defeat from the jaws of victory” ­because he pandered to inner-city elites at the expense of ordinary Australian families. “It’s the little guy who is the backbone of civic society but who is not outspoken … they

The post Steve Bannon sinks the dagger into Labor “elites” appeared first on MacroBusiness.

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Renew Economy Tuesday, May 21, 2019 - 06:21 Source

In the first article of this series on Hawaii, we described some of the projects that have been built. This article looks at the three key drivers of renewable energy in the state; policy, economics and the need for resilience. Policy As mentioned in that article, the state has a goal of 100% renewables by 2045. ...

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Renew Economy Tuesday, May 21, 2019 - 06:14 Source

Australia's Redflow tapped to supply 100kWh of its ZBM2 zinc bromine flow batteries for a solar and electric vehicle smart grid project in China.

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Poll Bludger Tuesday, May 21, 2019 - 04:59 Source

Anthony Albanese emerges the clear favourite to assume the Labor leadership, as the emergence of the party's internal pollling belies the notion that it had any clearer an idea of what awaited it than the rest of us.

The post Term three, day three appeared first on The Poll Bludger.

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Poll Bludger Tuesday, May 21, 2019 - 01:52 Source

Progressive updates on late counting in the seats that will determine whether Scott Morrison governs in majority or minority.

The post Photo finishes appeared first on The Poll Bludger.

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MacroBusiness Tuesday, May 21, 2019 - 00:20 Source

The media drivel about the election is as widespread as it is wrong. ScoMo is not a saviour of anything. He lost LNP votes and was fantastically fortunate to regain them through preferences from people voting for change. Moreover he did so by promising to do nothing so what now can he do?. Let’s run

The post The disaster of ScoMo appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 21, 2019 - 00:15 Source

By Leith van Onselen Ivailo Izvorski – Lead Economist, Global Practice Macroeconomics at the World Bank – has penned a ripping article debunking the mainstream view that population ageing spells doom for the world’s economies: Longer and more productive lives should be celebrated as an achievement of mankind rather than considered a problem. Longevity, however,

The post Australia has nothing to fear from population ageing appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 21, 2019 - 00:10 Source

As regular readers will know, China has been at the forefront of Australia’s international student boom. In the five years to December 2018, the number of international students residing in Australia surged by around 60% to half-a-million, as illustrated in the next chart: The lion’s share of international students studying in Australia comes from China,

The post Will Trump’s China trade war kill the international student trade? appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 21, 2019 - 00:10 Source

Via the UBS property bears: Election result materially reduces downside risk for UBS view on housing The main implication of the election is the absence of expected Labor changes, especially to negative gearing, capital gains tax & franking; rather than the Coalition’s mostly ‘status quo’. While this likely has limited impact on our credit tightening

The post UBS bears: Housing downside materially reduced appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 21, 2019 - 00:01 Source

Global Macro / Markets / Investing: Warren Buffett: If a bank needs a government bailout, the CEO and spouse should lose ‘net worth’ – CNBC Bitcoin loses $21 billion in market cap in 24 hours – CNBC How cryptocurrency Is Changing Basic Economics – The Spec Oil price jumps as Saudi suggests OPEC+ keep production

The post Links 21 May 2019 appeared first on MacroBusiness.

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Renew Economy Monday, May 20, 2019 - 19:54 Source

Election means Australia’s electric vehicle industry – and consumers – will have to wait at least another 12 months for federal government to deliver EV strategy.

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Club Troppo Monday, May 20, 2019 - 18:16 Source

This is a guest post by Brian Schmidt. Actually it isn’t, I’ve cut and pasted. I hope he doesn’t mind. Important stuff. HT: John Walker

Everyone in my office grew sick last week of my continual complaints about the state of the political polls. Not because of any insights into the results they were predicting, but because they were all saying the same thing with a collective similarity that violates the fundamentals of mathematics.

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MacroBusiness Monday, May 20, 2019 - 16:30 Source

A mixed session to start the week here in Asia, although dead cat’s are bouncing and rolling over here and there, the local market is soaring due to the pro-bank and pro-mining party getting voted in over the weekend. The Australian dollar is also on a tear post the election, although still remains below 70

The post Macro Afternoon appeared first on MacroBusiness.

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The Australian Independent Media Network Monday, May 20, 2019 - 15:54 Source

“How good is Australia? How good are Australians? … an amazing country of amazing people.” ScoMo manages to amaze himself -shades of Trump – by the Coalition’s shock election results. How good is change that stays the same? How good are Queenslanders? One in eight votes for Pauline Hanson or Clive Palmer; deliver the Coalition…

The post Hello ScoMo. Goodbye democracy. appeared first on The AIM Network.

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