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MacroBusiness Friday, May 25, 2018 - 11:41 Source

AUD is soft during the morning after weak Japanese inflation: The Bondcano is bid: An XJO double-top is still in play but within a larger bullish ascending triangle: Dalian is soft: Big Iron too: And Big Oil: Big Gold is back: Banks are still taking heat. Both WBC and CBA are at massive crucial support

The post CBA and WBC fight off the cliff appeared first on MacroBusiness.

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MacroBusiness Friday, May 25, 2018 - 11:30 Source

I’m still trying to be nice but it’s getting harder. The post-Domainfax Michael Pascoe has red-lined on houses being cheap: This won’t go down well with the housing crisis brigade, but housing affordability has not gone through the roof. It’s actually been fairly stable for the past quarter century And to the extent that housing affordability

The post Pascometer redlines on cheap housing appeared first on MacroBusiness.

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MacroBusiness Friday, May 25, 2018 - 11:00 Source

By Leith van Onselen You know Auckland’s housing market has hit peak stupid when despite a near record high average dwelling price of $1.05 million: And rampaging population growth: We are being told that Auckland’s dwelling values must continue to rise otherwise developers will go bust: House prices and those of commercial property projects will

The post Anatomy of an Auckland housing disaster appeared first on MacroBusiness.

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MacroBusiness Friday, May 25, 2018 - 10:45 Source

Via the Kouk earlier this week: Do we need to be worried about Australia’s economic outlook? The Reserve Bank of Australia reckons that the next move in official interest rates is more likely to be up than down. RBA Governor has said so in recent weeks as he talks up the prospects for the economy

The post Kouk: RBA gunna cut interest rates later this year appeared first on MacroBusiness.

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MacroBusiness Friday, May 25, 2018 - 10:30 Source

This morning I was interviewed by Radio 2GB’s Luke Grant discussing Labor Leader, Luke Foley’s, regrettable comments yesterday about “white flight” from Sydney owing to an influx of refugees (which I demolished yesterday). I also slam mainstream economists infatuation with endless growth, as well as the lunacy of recent calls to increase Australia’s immigration intake

The post Leith van Onselen talks mass immigration on 2GB Radio appeared first on MacroBusiness.

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The Australian Independent Media Network Friday, May 25, 2018 - 10:26 Source

Nothing exemplifies better how totally lacking in judgement the Coalition is than the superannuation saga. (Ok, maybe their determination to exacerbate climate change, but that’s another story albeit very similar in its short-sighted ignorance.) In the brief moments between discussing dual citizenship and Gestapotato’s latest bid to make us all scared, they sometimes remember we…

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Inside Story Friday, May 25, 2018 - 10:10 Source

Last week the Australian Electoral Commission sent a letter to the speaker of the House of Representatives giving 28 July, the last day of Labor’s national conference, as the “optimal” date for five Super Saturday by-elections. This week the speaker told parliament he was accepting the advice and would issue writs for that date. Labor reacted in fury, dragging the AEC into a Senate estimates hearing, where things got very heated.

Was the choice of this date a conspiracy or a stuffup?

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MacroBusiness Friday, May 25, 2018 - 10:00 Source

By Leith van Onselen The infrastructure being built to fix the problems caused by mass immigration continues to pile on the pain for taxpayers in Queen Lucy Turnbull’s Sydney. Hot on the heels of Spanish contractor Acciona demanding an additional $200 million from taxpayers as compensation for delays caused by the NSW State Government relating to the Sydney

The post Another contractor lines up to sue Sydney’s Light Rail farce appeared first on MacroBusiness.

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xkcd.com Friday, May 25, 2018 - 10:00 Source

By clicking anywhere, scrolling, or closing this notification, you agree to be legally bound by the witch Sycorax within a cloven pine.

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Global Guerrillas Friday, May 25, 2018 - 09:54 Source

Here's a question you should be asking yourself:

What does 21st Century authoritarianism look like?

Given what we've seen so far, it isn't likely that we're going to see a return to the 20th Century model, with its absolute dictators, industrial scale bureaucracies, paramilitaries, ideologies, ubiquitous/vicious secret police, relentless propaganda, etc... 

That model died when globalization and the Internet hollowed out the nation-state.

The new model of authoritarianism.  The model that is sweeping the world is very different. 

It's networked. 

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MacroBusiness Friday, May 25, 2018 - 09:33 Source

If you want an example of why the world’s rich are in deep trouble then look no further that today’s repulsive AFR Rich List write-up: It is Saturday night in late April at the luxurious Mar-a-Lago resort in the billionaires’ playground of West Palm Beach, Florida. Inside the dining room – a faithful replica of

The post Rich List reaches peak oligarchy appeared first on MacroBusiness.

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The Tally Room Friday, May 25, 2018 - 09:30 Source

I’ve wanted to do a podcast for a while, but haven’t been in a position to spend the time to do it properly. I think I’m pretty much there now, but I’m looking for some help with it.

I have a plan to launch a podcast in June, which should hopefully give us at least two episodes before the by-elections on July 28. It will start out slow, and may not be the most professionally produced podcast at first, but I’d like to work out the technology and spend the time to turn it into something really good. Hopefully it would be running smoothly for the big three elections due later this year.

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Renew Economy Friday, May 25, 2018 - 09:23 Source

UPC to advance biggest solar development in NSW and country’s biggest wind farm in Tasmania after bringing in a major new investor.

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MacroBusiness Friday, May 25, 2018 - 09:00 Source

By Leith van Onselen We wrote last week how home values have fallen fastest across the top 25% of properties by value. Now, CoreLogic has gone a step further by assessing home price growth across each decile, which confirms that values have fallen fastest at the premium end of the market: The report provides a

The post Premium homes cop biggest value declines appeared first on MacroBusiness.

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MacroBusiness Friday, May 25, 2018 - 09:00 Source

Give us all a break, Beijing Bob: Angela Merkel is the leader of America’s most important ally. The differences between democratic, US-aligned Germany and Communist-ruled China are real. China’s cutting edge industries now challenge Germany’s lead in manufacturing. But today Angela Merkel is in China, to talk to its leaders in Beijing and to promote

The post Beijing Bob whines about China diplomacy he derailed appeared first on MacroBusiness.

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MacroBusiness Friday, May 25, 2018 - 08:49 Source

By Chris Becker Trump’s sudden cancellation of the summit with North Korea caught markets a bit unawares, sending European stocks down while US bourses recovered later in the session. Oil prices tumbled however as the USD was mixed against the majors, with a bounce in gold prices rounding out the volatile overnight session. Recapping stocks

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Friday, May 25, 2018 - 08:10 Source

EUR rallied last night and DXY fell: AUD ran around on the spot: But EMs fell: Gold bounced on renewed Korean tensions: Oil fell: And base metals: Plus big miners: EM stocks are still in trouble: Junk too: Treasuries were gobbled up: And bunds (Italian yields were flat): Stocks were soft: Why anyone would want

The post The US remains the only growth game in town appeared first on MacroBusiness.

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MacroBusiness Friday, May 25, 2018 - 07:13 Source

Via Domainfax: Crowding on Sydney’s trains has worsened significantly in just a year, new figures show, frustrating passengers and placing greater pressure on an aged rail network struggling to cope with a booming population. Trains are running during the morning peak with loads as high as 185 per cent, way above the level at which

The post The King and Queen of Point Piper’s plan is to wreck Sydney appeared first on MacroBusiness.

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MacroBusiness Friday, May 25, 2018 - 07:12 Source

I’m sometimes skeptical of Ambrose Evans-Pritchard. His bearishness is so relentless and florid that it’s hard to keep up. But every so often he scribbles such a ripping piece that it is impossible to ignore. To wit, from The Telegraph comes Italexit: The EU’s gendarmes are now eyeing Italy’s rebel coalition with professional curiosity. This

The post Australia’s worst nightmare is back…another global banking freeze appeared first on MacroBusiness.

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John Quiggin Friday, May 25, 2018 - 06:39 Source

The blog has been pretty quiet lately. That’s partly because I’m trying really hard to focus on finishing my Two Lessons book, but also because so many of the debates that come up have been had many times before, and I don’t feel like repeating myself. So, I’m going to try reposting older material. The risk is that it will be out of date, but on an early sample, it’s surprising how little I would change if I were rewriting.

I’m going to start with the current topic of hyperventilation in the Australian media: China and the South China Sea

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The Australian Independent Media Network Friday, May 25, 2018 - 06:00 Source

Friday 25 May 2018 I’m having one of those days where I’m relaxing, going over all those things that I haven’t got around to reading since my week away from the keyboard. As I’m catching up on things that friends have sent me, articles outside the mainstream, and other bits and pieces, it occurred to me…

The post Day to Day Politics: The Coalition is like Trump. A controversy every day appeared first on The AIM Network.

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North Coast Voices Friday, May 25, 2018 - 02:46 Source
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MacroBusiness Friday, May 25, 2018 - 00:25 Source

By Leith van Onselen While residents of Sydney and Melbourne are suffering from crush-loaded roads, trains, schools, hospitals, and prisons, as well as hideously expensive housing, toll road company Transurban is positioning itself to be prime beneficiary of Australia’s mass immigration ‘Big Australia’ policy. From The SMH: Toll road giant Transurban is positioning itself to

The post Transurban seeks to monopolise population ponzi profits appeared first on MacroBusiness.

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MacroBusiness Friday, May 25, 2018 - 00:20 Source

By Leith van Onselen Th AFR’s Phillip Coorey has done a good job describing the conundrum facing the Turnbull Government with respect to its company tax cut policy: Inevitably, in the wake of this week’s events, there are murmurs among the Nationals and some others on the backbench to dump the cuts rather than fight

The post Coalition painted into corner on company tax cuts appeared first on MacroBusiness.

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North Coast Voices Friday, May 25, 2018 - 00:16 Source

It seems schoolchildren are considered fair game by the big banks......Junkee, 19 May 2018:Oh boy. This is a tough one. An investigate report by Fairfax Media has found that Commonwealth Bank employees set up thousands of fraudulent children’s savings accounts in order to meet internal targets and earn bonuses.That’s right folks. Your mates the Dollarmites?

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MacroBusiness Friday, May 25, 2018 - 00:15 Source

By Leith van Onselen The deflation of Sydney’s housing market ceased this week, with Sydney values rebounding by 0.04% in the week ended 24 May, according to CoreLogic: Sydney home values have now declined by a cumulative 4.6% over the past 37-weeks, with values also down 4.5% over the past 42 weeks. By comparison, Melbourne

The post Melbourne housing overtakes Sydney as price falls leader appeared first on MacroBusiness.

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North Coast Voices Friday, May 25, 2018 - 00:15 Source
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Club Troppo Friday, May 25, 2018 - 00:11 Source

The OECD has joined The Movement. In a new report it’s saying that plastic recycling isn’t working. So we’ve got to make it work. Fair enough. PerhapsImage result for friendly crazy clown we should.

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MacroBusiness Friday, May 25, 2018 - 00:10 Source

By Leith van Onselen In the week ended 24 May 2018, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, fell another 0.04%: Values fell hard in Melbourne but rose across the other major markets: So far in May, home values have declined by 0.13%, led by Melbourne and

The post CoreLogic weekly Australian house price update: more falls appeared first on MacroBusiness.

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MacroBusiness Friday, May 25, 2018 - 00:05 Source

Iron ore price charts for May 24, 2018: Tianjin benchmark jumped $1.75 to $65.15. Paper added gains overnight. Volatility is rising as we enter the mid-year destock. More downside ahead.

The post Daily iron ore price update (bear market rally) appeared first on MacroBusiness.

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