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MacroBusiness Friday, October 19, 2018 - 00:15 Source

Here’s what Deputy Chairsatan Guy Debelle said about weak wages this week: As we have stated many times, we expect that will lead to a gradual increase in wages growth and, in turn, inflation. There are a number of uncertainties around the extent and timing of the decline in the unemployment rate and the pick-up in wages

The post UBS says what dodgy RBA won’t appeared first on MacroBusiness.

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MacroBusiness Friday, October 19, 2018 - 00:15 Source

By Leith van Onselen In the week ended 18 October 2018, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, declined another 0.19%: Values fell across in three major markets and rose in two: So far in 2018, home values have declined by 3.72%, with only Brisbane and Adelaide

The post CoreLogic Weekly Australian house price update: heavy losses appeared first on MacroBusiness.

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MacroBusiness Friday, October 19, 2018 - 00:10 Source

By Leith van Onselen Yesterday’s ABS labour force release for August revealed a softening Australian youth labour market – i.e. those aged 15 to 24 years old – with both full-time and part-time jobs growth weakening. While the trend headline unemployment rate fell to 11.16% in September from 11.24% in August: Total employment growth for

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MacroBusiness Friday, October 19, 2018 - 00:01 Source

Global Macro / Markets / Investing: Everything You Need to Know About Capitalism – Teen Vogue Bond Traders Are Paid Big to Dump U.S. Treasuries and Go Abroad – Bloomberg Don’t mention the oil price – U.S. legal threat prompts change at OPEC – Reuters As Easy Money Wanes, Investors Scramble to Adapt – WSJ

The post Links 19 October 2018 appeared first on MacroBusiness.

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Renew Economy Thursday, October 18, 2018 - 22:43 Source

Elon Musk promises more service centres globally, as Tesla opens 50-unit charging station in Hong Kong - the biggest to date in Asia.

The post Tesla to fill “geographic gaps” on EV service centres in 2019 appeared first on RenewEconomy.

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Renew Economy Thursday, October 18, 2018 - 22:36 Source

Kitty Hawk, the air taxi company started by Google's co-founder Larry Page, and Air New Zealand, means autonomous, electric air taxis could soon be a thing.

The post Autonomous, electric air taxis set to land in NZ soon appeared first on RenewEconomy.

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Renew Economy Thursday, October 18, 2018 - 22:30 Source

Palau hopes to kick its diesel energy dependence with the addition of 35MW of solar and 45MWh of storage.

The post Engie to build world’s largest microgrid in Republic of Palau appeared first on RenewEconomy.

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Renew Economy Thursday, October 18, 2018 - 22:21 Source

WA government-owned network operator Western Power and retailer Synergy will connect a 105kW/420kWh Tesla battery to the grid in Meadow Springs, a suburb of Mandurah.

The post Tesla grid battery to be tested in WA’s top solar postcode appeared first on RenewEconomy.

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The Australian Independent Media Network Thursday, October 18, 2018 - 18:45 Source

European politics, philosophy, science and communications were radically reoriented during the course of the “long 18th century” (1685-1815) as part of a movement referred to by its participants as the Age of Reason, or simply the Enlightenment. After living through the Dark Ages of the ATM government, is it possible that Australia is edging towards…

The post Is there a glimmer of a coming Enlightenment in Australia? appeared first on The AIM Network.

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Harrangue Man Thursday, October 18, 2018 - 17:28 Source

With a change in psychs it meant I had to brief the new one on me. I stole half of someone's appointment and ended at ninety-two minutes. I cried near the end after I spoke of what happened and how to deal with the twin injuries of childhood and adult trauma.The hardest was talking 'bout self harming through gouging at my face, thigh and feet. That to pick at your body gives you a weird peace because of damage to brain chemistry and how to break that habit of mutilation.I'm like the bargain trolley at the gates of hell.I was jittery after and had a V in the afternoon.

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MacroBusiness Thursday, October 18, 2018 - 17:08 Source

The bounce in equities has been shortlived with only the Australian market not dipping into the red this afternoon, with local employment data keeping the bears away for another day. A weaker Yuan fix plus reduced confidence has seen Chinese stocks selloff sharply while gold is holding on, other undollar assets are falling heading into

The post Macro Afternoon appeared first on MacroBusiness.

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The Australian Independent Media Network Thursday, October 18, 2018 - 14:47 Source

“Do this outside. You will put me into trouble” (Mohammad al-Otaibi, Saudi consul, to Saudi agents, Istanbul, October 2, 2018). It smells, but anything wedged between the putrefaction of Saudi foreign policy, the ambition of Turkish bellicosity, and the US muddling middleman is bound to. Three powers tussling over image and appearance; all engaged in…

The post Embassy Disappearances: Jamal Khashoggi and the Foreign Policy Web appeared first on The AIM Network.

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MacroBusiness Thursday, October 18, 2018 - 14:43 Source

By Leith van Onselen The property downgrades continue with AMP chief economist, Shane Oliver, now predicting a 20% peak-to-trough decline in Sydney and Melbourne dwelling values: At the start of August, Oliver said he expected price falls in Sydney and Melbourne to max out at 15% from peak to trough. He now expects price falls

The post Shane Oliver: house prices to fall 20% appeared first on MacroBusiness.

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Renew Economy Thursday, October 18, 2018 - 14:33 Source

Mike Cannon-Brookes – he of the original Tesla big battery Tweet – calls "total BS" on Scott Morrison's Sky News comments about wind and solar. Twitter does its thing.

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Renew Economy Thursday, October 18, 2018 - 14:28 Source

Alinta gets approval for new transmission line in Pilbara, paving way for new solar farm and battery storage to help power some of the biggest mines in the country.

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MacroBusiness Thursday, October 18, 2018 - 14:27 Source

Grown-ups: Scott Morrison has dramatically reversed his opposition to a new agricultural visa, throwing a lifeline to his besieged Deputy Prime Minister, Michael McCormack, who is facing an internal push for a Barnaby Joyce comeback. The Prime Minister told the National Farmers Federation Congress today that his government “will work towards establishing an agriculture visa”.

The post ScoMo chaos as coolies to flood country appeared first on MacroBusiness.

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MacroBusiness Thursday, October 18, 2018 - 14:20 Source

AUD up on jobs: But CNY is sending a warning of more pressure ahead: Bonds hosed: ASX down modestly: Dalian firm: Big Iron is up: Big Gas down: And Big Gold: Big Mortgage is flat: Big Property is mixed: On pause.

The post AUD rises as CNY tanks appeared first on MacroBusiness.

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MacroBusiness Thursday, October 18, 2018 - 14:06 Source

More great property porn from Martin North as he interviews Tony Locantro from Alto Capital in Perth who has taken The Kouk up on his bet that Sydney and Melbourne house prices won’t fall -35%: Go Tony!

The post Hedgie bets Kouk that property will crash -35% appeared first on MacroBusiness.

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Renew Economy Thursday, October 18, 2018 - 13:56 Source

Electranet decision on grid upgrade on Eyre Peninsula kills prospects of mega wind farms on west coast, and also rejects battery and micro-grid alternatives.

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Renew Economy Thursday, October 18, 2018 - 13:40 Source

A $635 million energy-from-waste plant proposed for Kwinana Industrial Area south of Perth is set for construction, with backing from both ARENA and the CEFC.

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MacroBusiness Thursday, October 18, 2018 - 13:30 Source

By Leith van Onselen Last weekend, CoreLogic released its preliminary auction clearance rates, which revealed the following results: Today, CoreLogic has released its final auction results, which reported a large 3.7% decline in the national auction clearance rate to 47.0%, with Sydney’s auction clearance rate diving 6.9% to just 45.1%: The below time series chart

The post Sydney’s final auction clearance rate crashes into mid-40s appeared first on MacroBusiness.

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MacroBusiness Thursday, October 18, 2018 - 13:00 Source

Via Damien Boey at Credit Suisse today: Mixed September labour market report The September labour market report was mixed. Headline employment came in below expectations, rising by only 5.6K in September. However, the composition of jobs growth was actually quite favourable, with full-time employment rising strongly by 20.3K over the month. Part-time employment fell by

The post Credit Suisse: RBA to ignore unemployment numberwang appeared first on MacroBusiness.

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MacroBusiness Thursday, October 18, 2018 - 12:35 Source

By Leith van Onselen As summarised earlier, the Australian Bureau of Statistics (ABS) today released its labour force report for September, which registered a soft 5,600 increase in total employment but a sharp 0.3% drop in the headline unemployment rate to 5.0% driven by a sharp 2.4% fall in labour force participation. In trend terms,

The post Employment in detail: Mixed signals appeared first on MacroBusiness.

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MacroBusiness Thursday, October 18, 2018 - 12:30 Source

By Leith van Onselen ‘Build-to-rent’ has been touted as a key policy solution to Australia’s housing affordability woes. However, as we’ve argued repeatedly, its practical application has been questionable in both the United States and the United Kingdom. Indeed, there are legitimate questions that need to be asked before Australia launches into build-to-rent, namely: will

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Renew Economy Thursday, October 18, 2018 - 12:09 Source

Downer wins contract to build Austrlia's biggest solar farm, as Clean Energy Regulator reports record accreditations of wind and solar projects in September.

The post Downer wins contract to build Australia’s biggest solar farm appeared first on RenewEconomy.

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Your Democracy Thursday, October 18, 2018 - 12:08 Source
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MacroBusiness Thursday, October 18, 2018 - 12:00 Source

By Leith van Onselen Sydney developer, Mark Bainey, has slammed the NSW Government’s stamp duty surcharge on foreign buyers, claiming it is turning overseas buyers away: “We offered the rebate to try to encourage more overseas purchasers in our projects, but the 12 per cent total stamp duty levy they must now pay has made

The post Foreign buyer surcharge shifts building toward Aussie families appeared first on MacroBusiness.

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The Australian Independent Media Network Thursday, October 18, 2018 - 11:52 Source

There are about 119 children currently detained with their families on Nauru – this number fluctuates, as children are often taken from the island temporarily for emergency medical treatment ; many of these children were born on Nauru. Back in 2013, John Key, the then prime minister of New Zealand offered to break the Australian…

The post Nauru – Is this a Mexican Stand-Off ? If not, it will do until one comes along ! appeared first on The AIM Network.

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MacroBusiness Thursday, October 18, 2018 - 11:45 Source

If I have to read one more these rubbish assessments of the decline of the USD I will be reaching for my revolver. Via Harry Sender at the FT: One consequence of the America First policies of US President Donald Trump will be to create a bipolar financial world, with China at one end and

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MacroBusiness Thursday, October 18, 2018 - 11:35 Source

Yes, you read that right. The ABS has released September Labor Force and the  news is whacko: TREND ESTIMATES (MONTHLY CHANGE)  Employment increased 26,400 to 12,640,800. Unemployment decreased 10,500 to 688,500. Unemployment rate remained steady at 5.2%. Participation rate remained steady at 65.6%. Monthly hours worked in all jobs increased 2.8 million hours (0.2%) to

The post Australian jobs market stalls, unemployment crashes appeared first on MacroBusiness.

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