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MacroBusiness Wednesday, June 26, 2019 - 11:45 Source

Not a good place for it to go. Via WaPo: China on Tuesday criticized Washington’s efforts to enforce U.S. law abroad following a news report three Chinese banks might be penalized over dealings with North Korea. The banks named by The Washington Post as facing possible loss of access to the U.S. financial system denied

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MacroBusiness Wednesday, June 26, 2019 - 11:30 Source

The City of Sydney formerly declared a “climate emergency” on Monday night, which was applauded by environmentalists: Councillors on Monday night voted in favour of a motion put forward by Lord Mayor Clover Moore, saying that climate change poses a serious risk to Sydneysiders… “Successive federal governments have shamefully presided over a climate disaster, and

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MacroBusiness Wednesday, June 26, 2019 - 11:15 Source

Two big building suppliers polish up the property turd today. FBU and CSR: Fletcher really didn’t even bother with much polish: Fletcher expected Australian residential approvals to drop to between 150,000 – 160,000 in financial 2020, from 190,000 in the year ending June 30. Approvals would then  experience a marginal improvement to 170,000 in fiscal

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MacroBusiness Wednesday, June 26, 2019 - 11:00 Source

Lol, this is so Borgesian that I simply do not know where to look. Via Jennifer Duke who traveled to Shanghai as a guest of Huawei: Shanghai: Huawei will push for a meeting between the Chinese behemoth’s top Australian executives and newly appointed Communications Minister Paul Fletcher to heap pressure on the government as the

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MacroBusiness Wednesday, June 26, 2019 - 10:30 Source

Angry China has so far made a series of terrible blunders. First, it quietly invaded Australia with bribes and influence networks that got sprung. Second, it backed itself into a corner on the trade war. Third, it arrested all kinds of foreign nationals and applied punitive trade practices to supposed friends, including on Australia. Fourth,

The post Angry China fumes in Australian parliament appeared first on MacroBusiness.

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MacroBusiness Wednesday, June 26, 2019 - 10:30 Source

A protest of three, via the ABC: Three of the nation’s media bosses are demanding greater protections for whistleblowers and journalists, in a rare show of public unity prompted by recent police raids. Last month, the Australian Federal Police (AFP) searched the home of News Corp political journalist Annika Smethurst and the ABC’s Sydney headquarters,

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MacroBusiness Wednesday, June 26, 2019 - 10:15 Source

Via The Australian: Centre Alliance has signalled it could support the Morrison government’s full personal income tax cuts package as soon as Friday without a deal on gas being locked in, as Labor also leaves open the possibility of backing the flagship $158 billion tax plan in full. Stirling Griff, who with Centre Alliance colleague

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Renew Economy Wednesday, June 26, 2019 - 10:04 Source

Rottnest Wind TurbineRottnest wind turbine stands alone but it’s influence goes far beyond Perth’s holiday playground. It turned Tony Abbott against wind energy. We find out why.

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MacroBusiness Wednesday, June 26, 2019 - 10:00 Source

Lats year PIMCO was very bearish on Aussie property: Mortgage availability has tightened due to property-cooling measures and closer bank scrutiny. Over the past few years, the Australian Prudential Regulation Authority (APRA), the country’s banking regulator, has introduced various macroprudential measures to cool down the housing market. Notably, in late 2014 APRA required that banks cap the

The post PIMCO: Aussie property prices to keep falling appeared first on MacroBusiness.

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xkcd.com Wednesday, June 26, 2019 - 10:00 Source

The articles are much shorter, but I assume that's because this version predates the merger with the Hawaiian text that created the modern Hawaiian-Greek hybrid wiki-pedia.

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MacroBusiness Wednesday, June 26, 2019 - 09:45 Source

From Richard Denniss at the AFR: Imagine if the Reserve Bank of Australia (RBA) conducted monetary policy the way the Morrison government conducted fiscal policy. Step one: publish optimistic forecasts of GDP and wage growth to create “confidence”. Step two: set interest rates five years down the track, based on those optimistic forecasts. Step three:

The post Denniss: Recessionberg’s tax cuts Keynesian stupidity appeared first on MacroBusiness.

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MacroBusiness Wednesday, June 26, 2019 - 09:30 Source

Via Bloomie: The U.S. is willing to suspend the next round of tariffs on an additional $300 billion of Chinese imports while Beijing and Washington prepare to resume trade negotiations, people familiar with the plans said. …The U.S. won’t accept any further conditions on tariffs as part of reopening negotiations and no detailed trade deal

The post With every passing day, China is being pushed out of the global economy appeared first on MacroBusiness.

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MacroBusiness Wednesday, June 26, 2019 - 09:15 Source

It’s the great Aussie foreign policy tradition. When we come to a fork in road between the US and China we take it. In his first major speech today comes ScoMo: “Trade tensions have escalated. The collateral damage is spreading. The global trading system is under real pressure,” the Prime Minister will say in a

The post ScoMo bashes cheating China as Aussie trust in Beijing collapses appeared first on MacroBusiness.

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MacroBusiness Wednesday, June 26, 2019 - 09:00 Source

Spot fell. Paper too. Steel is still being supported by Tangshan output curbs.  CISA steel output pulled back in late May. The charts: The last chart is more marginal evidence that steel mills have hit some kind of over-production tipping point. The pullback was coming via margins anyway but enforcement by regulators achieves the same

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MacroBusiness Wednesday, June 26, 2019 - 08:54 Source

And herein lies the problem for all crypto, via the FT: Facebook’s hopes of launching a new virtual currency have suffered another blow, as two more financial regulators said on Tuesday they are paying close attention to the social media company’s plans. Both the international Financial Stability Board and the UK’s Financial Conduct Authority have

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En Passant Wednesday, June 26, 2019 - 08:45 Source

In writing about the Folau saga recently, I showed compassion to those rank and file Christians who felt under threat.  As time goes on however it is becoming clearer (to me anyway) that some of those ordinary Christians have fallen or are falling for a campaign of hate disguised as religious freedom.

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MacroBusiness Wednesday, June 26, 2019 - 08:45 Source

By Chris Becker  Risk sentiment was pushed lower overnight as the less dovish Fed and a slump in new home sales saw a selloff across Wall Street with tech stocks leading the way. Oil prices shot higher again on more Gulf tensions with the USD roaring back to life. Looking at yesterday’s action in Asia first, the

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Wednesday, June 26, 2019 - 05:55 Source

DXY firmed a little last night as CNY and EUR fell: The Australian dollar popped and dropped: As did gold: Oil was weak: Metals firm: Miners soft: EM stocks more so: Junk got bashed: As the Treasury curve was monstered: Bunds bid: Aussie bonds are at new highs: And stocks melted: Data was mixed. The

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MacroBusiness Wednesday, June 26, 2019 - 00:10 Source

The fallout from Australia’s high-rise apartment crisis rolls on, with photos shared online by Sydney property consultant, Edwin Almeida, highlighting the dodgy work and shortcuts rife across the construction industry: According to him, media reports about recent evacuations of residents from high-rise apartment buildings in Sydney are “just the tip of the iceberg” as a

The post Victorian taxpayers to foot bill for highrise “death traps” appeared first on MacroBusiness.

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MacroBusiness Wednesday, June 26, 2019 - 00:10 Source

Mortgage Broker and Financial Planner Chris Bates and Martin North discuss “pent up demand” unleashed in the property market.

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MacroBusiness Wednesday, June 26, 2019 - 00:08 Source

Over the weekend, Fairfax reported that the salaries of vice chancellors at Australia’s universities has soared towards $1.5 million, which comes at the same time as universities are making billions of dollars in fees from international students, teaching staff are increasingly being placed on casual contracts, and Australian universities are near the bottom of global

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MacroBusiness Wednesday, June 26, 2019 - 00:01 Source

Global Macro / Markets / Investing: Amazon Will Pay $0 in Taxes on Multi-Billion Dollar Profits – Breibart As Economy Creeps Into Old Age, Amazon’s Bank Bets on Buyers With Bad Credit – The Street UBS: World economy ‘one step away from global recession’ – Yahoo Daimler slumps as diesel costs wipe out profit growth

The post Links 26 June 2019 appeared first on MacroBusiness.

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Renew Economy Wednesday, June 26, 2019 - 00:01 Source

wind farm hill collgar cefc ironstone joint venture - optimisedCEFC to tip $100m into joint venture with Ironstone Capital to encourage institutional investors, such as superannuation funds, into the clean energy market.

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Renew Economy Wednesday, June 26, 2019 - 00:01 Source

wind farm hill collgar cefc ironstone joint venture - optimisedCEFC to tip $100m into joint venture with Ironstone Capital to encourage institutional investors, such as superannuation funds, into the clean energy market.

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The Australian Independent Media Network Tuesday, June 25, 2019 - 18:00 Source

Subordinates rarely have a good time of dictating matters to their superiors. In the webbed power relations that pass as realpolitik, Australia is the well-behaved child in the front of the room, yearning to be caned and spoilt in equal measure. Ever since Australia’s Prime Minister John Curtin cast his eye to Washington in an…

The post The Pinkerton Effect: The US Marines in Darwin appeared first on The AIM Network.

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The Australian Independent Media Network Tuesday, June 25, 2019 - 17:41 Source

“The only one who matters is me.” Donald J Trump The Great Satan, as the US was to Iran in the ’70s, morphs into The Angel of Mons last week. Or at least that’s the lie peddled by its fabulist President. Heroically compassionate, a Walter Mitty Trump averts catastrophe; pulls back from the brink of…

The post ScoMo’s big speech reveals no ideas; no agenda, mandate. appeared first on The AIM Network.

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Harrangue Man Tuesday, June 25, 2019 - 17:40 Source

When you have PTSD loud, sudden and or sharp noises trip your panic switch. A cat yowl is all three.The ginger cat would not stop, I think it's missing its substitute mum, and I couldn't find the ear protection for hot minutes of terrifying pussy action. Up until I did my panic escalated and I was now frightened. I'm still frightened.A workplace mental injury did that to me and it's a seeming ever wound. That a household cat can scare me into an unreasoned animal state is deeply fucked up. There's no pithy coda; it is what it is. And what it is is balls.

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MacroBusiness Tuesday, June 25, 2019 - 16:30 Source

Risk sentiment is falling quickly here in Asia with most share markets taking a dive. with bids in Kiwi and Yen as other safe havens like Treasuries get a bid, the 10 year falling below 2% again. It looks like another poor session on Wall Street tonight with no positive catalysts forthcoming as geopolitical tensions remain

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The Australian Independent Media Network Tuesday, June 25, 2019 - 16:14 Source

By RosemaryJ36   Israel Folau’s earnest belief in the Bible, as the source of the way to follow his faith, has made a mountain out of a molehill. Apart from the fact that, if he were truly a Christian, his first source of direction should be Jesus Christ’s teachings (foremost among which is the exhortation to…

The post Lost in translation appeared first on The AIM Network.

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Renew Economy Tuesday, June 25, 2019 - 14:50 Source

EnergyAustralia yallourn brown coal power stationEnergyAustralia issues statement clarifying its plans for Yallourn power station, as speculation mounts that power station could close earlier than 2032.

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