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MacroBusiness Friday, April 21, 2017 - 08:41 Source

By Leith van Onselen The battle lines are being drawn on housing, with Labor Party today set to add new measures to its housing package including a proposed federal tax on vacant properties and a ban on self-managed superannuation funds (SMSFs) being able to borrow money to fund property purchases. Such a ban was recommended

The post Labor ups the ante on housing policy appeared first on MacroBusiness.

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MacroBusiness Friday, April 21, 2017 - 08:28 Source

UBS has some nice ASX200 valuation material today: Market More (or Less) Expensive Than It Looks? Australia’s current market P/E multiple of 15.3x (1-year forward) is moderately above average but not out of line with the current global multiple. The Australian market is still trading at a moderate discount to its long run price to book

The post Aussie shares out of puff appeared first on MacroBusiness.

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oecomuse Friday, April 21, 2017 - 08:11 Source

Is anyone else disturbed by how the decision of the USA to drop its largest non-nuclear bomb on Afghanistan has disappeared from the news?

A week later (20 April 2017), Malcolm Turnbull said of Donald Trump and the wall-to-wall Republican administration: ‘I trust the judgement of the American government… I trust the judgement, the wisdom, of the president’.

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MacroBusiness Friday, April 21, 2017 - 07:51 Source

By Leith van Onselen Former economics editor with The Age, Tim Colebatch, yesterday published a brilliant article supporting the federal government’s crackdown on temporary work visas, arguing that Australia’s current mass immigration program is destroying employment prospects for the incumbent population. From Inside Story: Between 2008 and 2016, in net terms, the Australian labour market

The post Tim Colebatch schools Peter Martin on immigration appeared first on MacroBusiness.

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MacroBusiness Friday, April 21, 2017 - 07:46 Source

The USD firmed last night: Commodity currencies were mostly stronger: Gold took a hit: So did oil: Base metals rebounded: And big miners: As well as EM stocks: High yield is still treading water: US bonds were sold: But European spreads narrowed sharply: And stocks jumped: The proximate cause was one line from Treasury Secretary

The post Markets rally on hope appeared first on MacroBusiness.

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MacroBusiness Friday, April 21, 2017 - 07:40 Source

By Chris Becker   Cut taxes? Launch stocks! US markets loved the White House noise on possible tax cuts and more fiscal spending as the Reaganesque measures helped hot money from overbid Treasuries filter into the S&P. This has led to a surge in futures for Asian markets which should open higher this morning after

The post Macro Morning appeared first on MacroBusiness.

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The Australian Independent Media Network Friday, April 21, 2017 - 05:52 Source

Friday 21 April 2017 1 As a true blue Australian citizen I was perplexed with yesterday’s joint press conference between the Prime Minister Malcolm Turnbull and the Immigration Minister Peter Dutton to announce changes to citizenship laws. In fact, I became angry that they could play the race card in such an obvious way. The…

The post Day to Day Politics: Australian values, fair dinkum. appeared first on The AIM Network.

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Club Troppo Friday, April 21, 2017 - 00:33 Source

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MacroBusiness Friday, April 21, 2017 - 00:20 Source

How can a prime minister declare a national security crisis then do nothing about it? That’s what Malcolm Turnbull just did regarding the east coast energy crisis. In his own words: “security is the first responsibility of every government. That is, national security and energy security…What Australians want is a result. They want energy security,

The post Is Do-nothing Malcolm fit to govern? appeared first on MacroBusiness.

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MacroBusiness Friday, April 21, 2017 - 00:19 Source

Via The Australian: Australian Competition & Consumer Commission chairman Rod Sims said yesterday the situation in the east-coast gas market had deteriorated in the past year, leaving businesses faced with a “worst-case scenario’’. Mr Sims told The Australian the study commissioned by Malcolm Turnbull this week, after the gas industry failed to offer its own

The post ACCC: Energy crisis enters “worst-case scenario” appeared first on MacroBusiness.

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North Coast Voices Friday, April 21, 2017 - 00:16 Source

A federal government digital medical information storage and retrieval system, which will eventually contain information on every person permanently residing in Australia and which was hacked even before it publicly went online, is now going national – and it still has significant privacy problems.

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North Coast Voices Friday, April 21, 2017 - 00:15 Source

When US President Donald Trump began receiving his intelligence briefings in January, his team made a request: The president, they said, was a visual and auditory learner. Would the briefers please cut down on the number of words in the daily briefing book and instead use more graphics and pictures? [The Sydney Morning Herald, 9 April 2017]

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MacroBusiness Friday, April 21, 2017 - 00:11 Source

From S&P: The number of delinquent housing loans underlying Australian prime residential mortgage-backed securities (RMBS) fell to 1.23% in February from 1.29% in January, according to a recent report by S&P Global Ratings. We normally expect arrears to increase month on month in February, reflecting the seasonal effects of Christmas spending and summer holidays. The

The post Mortgage arrears decline unseasonally appeared first on MacroBusiness.

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MacroBusiness Friday, April 21, 2017 - 00:11 Source

From Canada: Ontario is taking action to make housing more affordable for homebuyers and renters by introducing the Fair Housing Plan. This set of 16 comprehensive measures would help more people find an affordable place to call home, while bringing stability to the real estate market and protecting the investment of homeowners. These measures include

The post Toronto follows Vancouver’s Chinese property buyer shut-out appeared first on MacroBusiness.

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MacroBusiness Friday, April 21, 2017 - 00:10 Source

By Leith van Onselen In the week ended 20 April 2017, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, fell by 0.17%: Values rose in three major capitals, fell in one, and was flat in one: So far in April, home prices have risen by 0.44%, with growth

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

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MacroBusiness Friday, April 21, 2017 - 00:05 Source

Iron ore price charts for April 20, 2017:    Spot up. Paper up more overnight. Steel falls slowed. Coking coal futures roared. Obviously we’re into some kind of dead cat bounce here. Who knows how far it gets. And who cares. The news flow tells you what’s coming. On top of RIO’s poor first quarter

The post Daily iron ore price update (rebound as future sours) appeared first on MacroBusiness.

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MacroBusiness Friday, April 21, 2017 - 00:04 Source

Via Reuters: China’s banking regulator sees “severe risks” from funds flowing into the real estate, coal and steel industries through the trust industry, a major part of the shadow banking sector, two sources with knowledge of the matter said on Thursday. Deng Zhiyi, head of the Trust Department at the China Banking Regulatory Commission (CBRC),

The post Still more Chinese property tightening appeared first on MacroBusiness.

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MacroBusiness Friday, April 21, 2017 - 00:01 Source

Global Macro / Markets / Investing: Robo-Adviser Wants to Lend You Money, Not Just Manage It – Bloomberg Monument to Wall Street Glory Becomes Just Another Mortgage Loss – Bloomberg Fed’s Fischer: US monetary policy normalization likely to be gradual – CNBC Americas: Subprime Pet Rental Company Files For Bankruptcy – Zero Hedge Hillary camp scrambling to find out

The post Links 21 April 2017 appeared first on MacroBusiness.

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En Passant Thursday, April 20, 2017 - 20:37 Source

Australian (ie ruling class) values? Genocide, war, racism, Islamophobia, xenophobia, running refugee concentration camps, screwing poor people and workers….

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The Australian Independent Media Network Thursday, April 20, 2017 - 18:00 Source

Australia has recently been subject to a debate over proposed changes to Section 18C of the Racial Discrimination Act. The changes were seen by conservatives to be necessary as there was some evidence to suggest that the Courts found that sometimes, some of their rank were found guilty of harassing, offending or insulting others based…

The post Discrimination for being a white male – seriously? appeared first on The AIM Network.

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Club Troppo Thursday, April 20, 2017 - 16:49 Source

Some of you will have seen my article in the Saturday Paper. I can only tease you with 150 words from it here. Then you’ll need to read it on the Saturday Paper’s site.

As the financial crisis continued wreaking its havoc in late 2010, Mervyn King, who, as Governor of the Bank of England, sat at the apex of the banking system, made this observation: “Of all the many ways of organising banking, the worst is the one we have today.”

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MacroBusiness Thursday, April 20, 2017 - 16:47 Source

by Chris Becker A series of good news and possible intervention by Chinese authorities in the local stock market, coupled with some exhaustion has seen a generally positive day across Asia. Outside big falls in iron ore, commodity prices are generally stable as Australian bonds were sold off. In China, the Shanghai Composite is steady going

The post Macro Afternoon appeared first on MacroBusiness.

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Your Democracy Thursday, April 20, 2017 - 16:37 Source

a national tragedy 1

 

 

 

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Your Democracy Thursday, April 20, 2017 - 15:27 Source

local

Malcolm Turnbull is finally trying to answer the lingering question of what he stands for.

It is no trivial matter because the hollowness at the core of his Government has been its fatal flaw.

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Renew Economy Thursday, April 20, 2017 - 14:38 Source

For utilities to have a chance at succeeding at the “brown to green” transition, a well thought out and highly flexible strategy will be fundamental.

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Prosper Australia Thursday, April 20, 2017 - 14:30 Source

Investor interest-only loans are a key risk factor threatening to destabilize Australia’s mountain of private debt, according to investment firm Standard Life Investments, a keen observer of interest rates. IO loans are often associated with thin equity buffers, risky investment strategies and the aggressive pursuit of capital gain over income. Standard Life says: “Much of […]

Read more Views: 49
Renew Economy Thursday, April 20, 2017 - 14:21 Source

Just how long can the Australian government and gas industry continue the charade that there might be a solution to surging domestic gas prices? It beggars belief that business is not following lead of households and smaller commercial users and investing in cheap and cleaner alternatives for power and heat.

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Renew Economy Thursday, April 20, 2017 - 14:21 Source

Just how long can the Australian government and gas industry continue the charade that there might be a solution to surging domestic gas prices? It beggars belief that business is not following lead of households and smaller commercial users and investing in cheap and cleaner alternatives for power and heat.

Read more Views: 31
Renew Economy Thursday, April 20, 2017 - 14:09 Source

Queensland government calls for expressions of interest to develop up to 450MW of large-scale solar, wind or biofuels near Gladstone coal port.

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Renew Economy Thursday, April 20, 2017 - 13:30 Source

Turnbull unveils plans for up to 2,500MW of pumped hydro capacity in Tasmania, which would need a new link to mainland.

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