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MacroBusiness Thursday, October 19, 2017 - 14:01 Source

Chinese growth numbers are out for the September QTR and it was all bang on target with GDP at 6.8%: However, something much more interesting is happening under the bonnet. The September month partials were mixed but weak in the construction economy with industrial production at 6.6%, retails sales at 10.3% but fixed asset investment

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MacroBusiness Thursday, October 19, 2017 - 13:30 Source

By Leith van Onselen I noted yesterday how secret NSW Government documents were released late last year revealing that the Parramatta Light Rail Project – the centrepiece of the Government’s plans to cement Parramatta as Sydney’s second central business district, as well as facilitate the building thousands of apartments around Sydney Olympic Park – had

The post NSW light rail farce intensifies appeared first on MacroBusiness.

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MacroBusiness Thursday, October 19, 2017 - 13:29 Source

From Domain: Despite some of Australia’s heavyweight property markets – including Sydney – recording price declines, one expert is forecasting significant house price growth in 2018 across Australia. Melbourne’s property market is expected to climb between 7 to 12 per cent in 2018, while Sydney is anticipated to soar between 4 and 8 per cent next year, SQM Research

The post SQM predicts ongoing house price boom appeared first on MacroBusiness.

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MacroBusiness Thursday, October 19, 2017 - 12:59 Source

From the HIA today comes news that mortgage affordability remains poor, despite a modest improvement in the September quarter: “Despite the poor levels of housing affordability there are signs of improvement for home-buyers, stated Tim Reardon, HIA’s Principal Economist. “The HIA Housing Affordability index for Australia improved by 0.5 per cent in the September 2017

The post HIA: mortgage affordability remains poor appeared first on MacroBusiness.

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MacroBusiness Thursday, October 19, 2017 - 12:28 Source

By Leith van Onselen As summarised earlier, the Australian Bureau of Statistics (ABS) today released its labour force report for September, which registered another 19,800 increase in total employment and a 0.1% decline in the headline unemployment rate to 5.6%. In trend terms, the unemployment rate fell marginally from 5.54% to 5.51% – the lowest

The post ABS employment in detail: Broad-based recovery continues appeared first on MacroBusiness.

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MacroBusiness Thursday, October 19, 2017 - 12:21 Source

It was on again today with banks bid out the wazoo when, alas, the good jobs number arrived: The bid is dependent completely upon economic weakness and falling yields so more jobs sucks for banks, though they are still up on the day: There’s a good chance that the bid will resume, though, just so

The post ASX charge hits jobs brick wall appeared first on MacroBusiness.

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Harrangue Man Thursday, October 19, 2017 - 12:00 Source

In ill-attempted missionFreshly re-introduced to the love of dairy, having discovered my intolerance lifted, after a psych appointment to debrief on the super sorry I furtled to McDonald's and got sundaes and shakes. Yeah ... so there was nothing in the basket to put them in and keep them from sliding about in their tray.

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MacroBusiness Thursday, October 19, 2017 - 11:35 Source

ABS jobs for September are out and the boomlet continues: Employment increased 19,800 to 12,290,200. Full-time employment increased 6,100 to 8,398,200 and part-time employment increased 13,700 to 3,892,000. Unemployment decreased 11,800 to 711,500. The number of unemployed persons looking for full-time work decreased 10,600 to 487,100 and the number of unemployed persons only looking for part-time

The post Australian jobs boomlet continues appeared first on MacroBusiness.

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Inside Story Thursday, October 19, 2017 - 11:32 Source

Earlier this month the Washington Post published an article by one Doug Sosnik, “a senior adviser to President Bill Clinton from 1994 to 2000,” which made the not especially spectacular assertion that “if [Donald] Trump isn’t removed from office and doesn’t lead the country into some form of global catastrophe, he could secure a second term.” Indeed, a “clear path” to that outcome could be discerned.

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Renew Economy Thursday, October 19, 2017 - 11:27 Source

The new policy could end up feeding demand for coal.

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MacroBusiness Thursday, October 19, 2017 - 11:07 Source

No doubt about it, domestic gas reservation is not strong enough if Santos can pump this out: Exporting losses while killing pensioners at home with a fat price gouge. Nice! ASX loves it:

The post Pensioner Killer upgrades guidance appeared first on MacroBusiness.

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MacroBusiness Thursday, October 19, 2017 - 10:49 Source

From Karen Moley today: You had to listen closely, but Chinese President Xi Jinping provided two important clues as to the economic policies he will pursue in his second five-year term in the course of his epic three-and-a-half hour opening address to the Communist Party congress. The first clue was provided by what he didn’t say. Xi made no mention

The post Xi Jinping just warned Australia on growth (for now) appeared first on MacroBusiness.

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Renew Economy Thursday, October 19, 2017 - 10:39 Source

JinkoSolar Holding Co today announced that its practical sized P-type multi-crystalline silicon solar cells reached the world’s highest conversion efficiency of 22.04%

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MacroBusiness Thursday, October 19, 2017 - 10:04 Source

By Leith van Onselen Since the 7-Eleven migrant worker scandal broke in 2015, there has been a regular flow of stories emerging about the systemic abuse of Australia’s various migrant worker programs. The issue culminated last year when the Senate Education and Employment References Committee released a scathing report entitled A National Disgrace: The Exploitation

The post Another migrant slave trade emerges appeared first on MacroBusiness.

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MacroBusiness Thursday, October 19, 2017 - 10:01 Source

ANZ reckons there are five reasons to buy AUD: USD is due for a correction Risk sentiment remains supportive RBA still on track to hike in 2018 Outlook for iron ore remains positive Technicals bode well Given these five indicators, we think that any downside surprise in domestic data should be used as an opportunity

The post ANZ: Five reasons the Australian dollar is going higher appeared first on MacroBusiness.

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MacroBusiness Thursday, October 19, 2017 - 09:45 Source

By Leith van Onselen Liberal MP, Ben Morton, has accused activist organisation, GetUp, of being a “front” for Labor and the Greens, rather than an independent organisation. Morton claims the two latest additions to GetUp’s board have links to Labor, including the party’s former digital director Daniel Stone. The Coalition wants the Australian Electoral Commission

The post Liberal Party: GetUp a Labor front appeared first on MacroBusiness.

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MacroBusiness Thursday, October 19, 2017 - 09:36 Source

Via Greg Sheridan: Mr Xi, the most dominant ­national leader in China since Mao Zedong, told 2300 delegates that China was entering a new era and it now “stands tall in the East”. He rejected Western notions of liberalism and confirmed ruling party ideology, including promoting “socialism with Chinese ­characteristics”. In a strongly ideological speech,

The post China’s soft power war on Australia intensifies appeared first on MacroBusiness.

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MacroBusiness Thursday, October 19, 2017 - 09:36 Source

By Leith van Onselen Labor infrastructure and transport spokesman, Anthony Albanese, has given yet another weak defence of mass immigration and a ‘Big Australia’, offering a whole bunch of strawman arguments, motherhood statements, and worthless platitudes defending the 1.74 million extra people expected to inundate Sydney over the next 20 years. From The Daily Telegraph:

The post Anthony Albanese spruiks #SardineSydney appeared first on MacroBusiness.

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MacroBusiness Thursday, October 19, 2017 - 09:18 Source

By Leith van Onselen Back in July it was revealed that a draft tax ruling issued by the Australian Taxation Office (ATO) in March 2017 could allow “passive” family investment companies to claim tax refunds and deductions, opening the door for wealthy families to claim back hundreds of millions of dollars. This draft ruling overturned

The post Government legislates to close wealthy tax loophole appeared first on MacroBusiness.

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Renew Economy Thursday, October 19, 2017 - 08:52 Source

Self serving and misleading comments from CEO of one of the country's iconic energy businesses need to be held up as a shining example of how recent energy summit forgot about one key person: the customer.

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MacroBusiness Thursday, October 19, 2017 - 08:16 Source

CBA is turning desperate. Following Ian Narev comes Michael Blythe: Australia’s biggest domestic economic risk is a “skewed consumer cycle” and the government may need to step in with a policy on wages, Commonwealth Bank of Australia chief economist Michael Blythe says. Normal wage growth is around 3.5 per cent per annum, according to the

The post Ironically, CBA begs gubmint to force wage hikes appeared first on MacroBusiness.

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MacroBusiness Thursday, October 19, 2017 - 06:54 Source

DXY launched last night then lost the lot. The chart remains bullish: AUD was weak against DM: But strong against EM: Gold was soft: Brent was firm on US hurricane outages and OPEC output cut extension talk (a certainty): Base metals were mixed: Big miners were crushed by Xi Jinping: EM stocks rebounded: High yield

The post New record highs for stocks appeared first on MacroBusiness.

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Your Democracy Thursday, October 19, 2017 - 06:36 Source

Donald Sam

A notorious Russian internet “troll factory” spent about $2.3 million during the 2016 election cycle to meddle in US politics, paying the salaries of 90 “US desk” employees who helped wage disinformation campaigns via social media that reached millions of Americans. The operation also contacted US activists directly and offered them thousands of dollars to organize protests on divisive issues, including race relations.

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The Australian Independent Media Network Thursday, October 19, 2017 - 06:00 Source

Thursday 19 October When is a policy not a policy? When it lacks detail, is the answer. There are those political leaders who have a sagacious gift for detail. In my experience no one surpassed former Prime Minister Howard. He consumed facts and figures with a childlike appetite for rice bubbles at breakfast. There was…

The post Day to Day Politics: When is a policy not a policy? appeared first on The AIM Network.

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MacroBusiness Thursday, October 19, 2017 - 00:35 Source

For those who couldn’t make it in person to the MB fund rock-n-roll thunder tour events around the country, we recorded the Melbourne concert. The first video is me explaining the history of MB, it’s purpose and the evolution of the MB Fund. The second video is Leith explaining his history with MB. The third

The post MB Fund rock-n-roll thunder tour (the movie) appeared first on MacroBusiness.

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MacroBusiness Thursday, October 19, 2017 - 00:30 Source

It’s as obvious as the nose on your face that global markets are beginning to suspect that the Australian property bubble may burst. The reasons are equally clear: prices are stalling or falling; officials have labelled it a bubble; global interest rates are rising; other similar markets in NZ, the UK and Canada are rolling;

The post Can Australia’s bubble central-planners land softly again? appeared first on MacroBusiness.

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MacroBusiness Thursday, October 19, 2017 - 00:20 Source

By Leith van Onselen Last month, CoreLogic released its Mapping the Market report for the June quarter, which showed the almost complete disappearance of affordable houses across Sydney: Sydney Houses: In June 2012, 21.3% of Sydney suburbs had a median house value of more than $1 million, by June 2017 55.7% of suburbs had a

The post Affordable houses have completely vanished from Sydney appeared first on MacroBusiness.

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MacroBusiness Thursday, October 19, 2017 - 00:19 Source

By Leith van Onselen Recent data on Brisbane’s housing market suggests that momentum has stalled from already sluggish levels amid an oversupply in apartment construction. Last week’s September quarter results from Domain (formerly Australian Property Monitors) revealed that while Brisbane houses have recovered to their March-2008 level in real inflation-adjusted terms, prices dipped 0.6% in

The post Apartment oversupply pulls Brisbane’s housing market under appeared first on MacroBusiness.

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North Coast Voices Thursday, October 19, 2017 - 00:18 Source

Swift ParrotLathamus discolorPsittacidaeCritically endangered (Australian federal listing)IUCN Red ListImage: Geoffrey Dabb/ Canberra BirdsSwift Parrots breed only in Tasmania and then fly across Bass Strait to forage on the flowering eucalypts in open box–ironbark fores

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North Coast Voices Thursday, October 19, 2017 - 00:16 Source

“Want to clear the pool of sharks? Ask the little lady.

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