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MacroBusiness Thursday, April 23, 2015 - 12:24 Source

By Leith van Onselen There’s nothing like watching a rent-seeking industry fall on its own sword. This week, taxi drivers Perth staged a mass protest outside Parliament House against ridesharing company Uber, with some 200 drivers parking their cars, shutting off their meters, and blockading streets. The protestors claim that car-sharing services like Uber avoid

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MacroBusiness Thursday, April 23, 2015 - 12:01 Source

The HSBC China Flash PMI is out at 49.2, four points lower than last month and expectations. The internals are not good, either, especially new orders: And the charts: The glide slope is just a little too intact…  

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MacroBusiness Thursday, April 23, 2015 - 11:50 Source

From the AFR: Treasurer Joe Hockey, whose budget hopes are being smashed by falling iron ore prices, has backed a decision by Australia’s biggest miner to curb production of the key export. Mr Hockey said “common sense must prevail,” while he was also pleased to see exporters were “taking a more reasonable approach to production levels”.

The post Iron ore lunatics take over asylum appeared first on MacroBusiness.

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Prosper Australia Thursday, April 23, 2015 - 11:46 Source

By Leith van Onselen Core Logic-RP Data has released its Capital Markets Report for 2015, which contains some disturbing data on Australia’s land costs, which have gone vertical despite shrinking in size: The price of vacant residential land across the capital cities has increased sharply over recent years. Over the 20 years to December 2014, […]

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Prosper Australia Thursday, April 23, 2015 - 11:46 Source

By Leith van Onselen Core Logic-RP Data has released its Capital Markets Report for 2015, which contains some disturbing data on Australia’s land costs, which have gone vertical despite shrinking in size: The price of vacant residential land across the capital cities has increased sharply over recent years. Over the 20 years to December 2014, […]

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Thursday, April 23, 2015 - 11:46 Source

The UN was also warned about separate state legislation giving the minister more power over Aboriginal sites.

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MacroBusiness Thursday, April 23, 2015 - 11:38 Source

By Leith van Onselen Just when you thought policy making couldn’t get any lower, we got the following from Social Services Minister, Scott Morrison, who defended negative gearing as a way for battlers in the suburbs to get ahead: “You’d be surprised how many people…particularly in small business who don’t earn a lot of money

The post Coalition defends negatively-geared ‘battlers’ appeared first on MacroBusiness.

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MacroBusiness Thursday, April 23, 2015 - 11:18 Source

From Morgan Stanley: MIIT targets to reduce 80mnt steel capacity and to limit steel companies to within 300 in the next three years: MIIT targets to reduce 80mnt steel capacity within three years and to limit the number of steel companies to within 300 from the current 500 during the same period. By 2025 the top 10 steel mills’

The post China cuts more steel appeared first on MacroBusiness.

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Thursday, April 23, 2015 - 11:09 Source

If you read the NYT you would think the US received a rockstar reception from its South American neighbours. That's not quite how things went down.

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MacroBusiness Thursday, April 23, 2015 - 11:06 Source

By Leith van Onselen Core Logic-RP Data has released its Capital Markets Report for 2015, which contains some disturbing data on Australia’s land costs, which have gone vertical despite shrinking in size: The price of vacant residential land across the capital cities has increased sharply over recent years. Over the 20 years to December 2014,

The post Australian land prices go vertical appeared first on MacroBusiness.

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MacroBusiness Thursday, April 23, 2015 - 10:33 Source

From The Australian: The initial $1.5 billion senior secured notes offer from Fortescue Metals has ballooned to $US2.3 billion due to a high level of demand. Chief executive Nev poer said US capital markets have shown great support for Fortescue. “We’ve seen strong demand from the market which will result in repayment of our 2017 and

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The Melbourne Urbanist Thursday, April 23, 2015 - 10:22 Source

What costs society more: cars or trains?

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The Australian Independent Media Network Thursday, April 23, 2015 - 10:17 Source

Suicide. ‘’The terrorism of self’’

Why is it that people so devalue their lives that they would choose to end it? In a land so abundant in its economic largesse why does government not extend more of a compassionate hand in the pursuit of saving those unable to save themselves?

The answer to the first question is to be found deep in the labyrinth, the complexity, of the individual’s mind. The second I suggest is because there are fewer political points to be scored.

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The Australian Independent Media Network Thursday, April 23, 2015 - 10:17 Source

When what you are doing is not achieving the desired goal, do you stick with it because that’s what you said you were going to do?

Data from the Australian Department of the Environment reveal that whether or not you liked the carbon tax, it absolutely worked to slash carbon emissions. And in the first quarter without the tax, emissions jumped for the first time since prior to the global financial crisis.

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MacroBusiness Thursday, April 23, 2015 - 10:15 Source

By Leith van Onselen Statistics New Zealand has released its permanent & long-term migration figures for March 2015, which revealed that net migration to New Zealand remained near record highs in seasonally adjusted terms: Moreover, migration from New Zealand to Australia was at its lowest level in 23-years: According to Statistics New Zealand: The main

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MacroBusiness Thursday, April 23, 2015 - 10:08 Source

By Leith van Onselen “Unabashed supporter of a bigger Australia”, KPMG’s Bernard Salt, continues to make contradictory statements about the desirability of Australia’s world-beating population growth. For years, Salt has been leader-in-chief for a “Big Australia”, producing reams of articles pushing rapid population growth and warning that to not follow this path would lead to

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MacroBusiness Thursday, April 23, 2015 - 10:04 Source

From Gotti at Dad’s Army: When linked to tourism and education, overseas apartment purchases (and development) have similar economic benefits to mining exports. …In normal circumstances, NSW would lead this boom and the biggest apartment developer in the state (and Australia), Harry Triguboff, would be the equivalent of the chief executive of the ‘Big Australian’,

The post Gotti soars on Triguboffonimic wings appeared first on MacroBusiness.

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Thursday, April 23, 2015 - 09:58 Source

PVO, a Liberal voter, said Wayne Swan, 60, should leave politics as he was ‘of no further use’. He did not say this of Bill Heffernan, 72, Bronwyn Bishop, 73, or Phillip Ruddock, 75, before the last election; nor did he say it in 2007 of John Howard, then 68, when everybody including all the Liberals wanted him to fuck off, or, alternatively, go bag his head. The Choirboy feared that Swan, whose achievement when Treasurer was unmatched and praised around the world, might add some sage advice to Labor policy in the coming decades and ensure they stay in office for another thirty years.

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Renew Economy Thursday, April 23, 2015 - 09:26 Source

Battery storage is already economic in some parts of the grid. That may also be the case for household and business consumers in Australia's towns and cities.

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Renew Economy Thursday, April 23, 2015 - 09:21 Source

Storage is seen as a key to reduce demand charges, and the anticipated boom in the electric vehicle market will transform the electricity sector.

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MacroBusiness Thursday, April 23, 2015 - 08:50 Source

From Kouk today: It’s an $18 billion a year gift to the budget! The iron ore price has jumped to US$53 a tonne as production levels are scaled back and markets realise that global economic growth is actually stronger than was assumed a couple of months ago. For the budget, this is manna from heaven.

The post Kouk goes Budget raw prawn appeared first on MacroBusiness.

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Thursday, April 23, 2015 - 08:40 Source

The second biggest coal mine planned for Queensland’s Galilee basin has also struck legal troubles. Thom Mitchell reports.

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MacroBusiness Thursday, April 23, 2015 - 08:38 Source

By Chris Becker More solid earnings results lifted all boats in US stocks overnight with a sell off in 10 year Treasuries almost sending them back to a 2% yield with no economic news from Europe making for a mixed session on the continent. The US dollar only had an impact on gold, which slumped

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MacroBusiness Thursday, April 23, 2015 - 08:30 Source

By Leith van Onselen If you are an investor in the Darwin housing market, you might want to sell-up now, because it is facing an almighty bust as the $34 billion Ichthys LNG Project – effectively three mega-projects rolled into one – approaches completion. From Deloitte via The ABC: “The construction phase of the Ichthys LNG

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Renew Economy Thursday, April 23, 2015 - 08:10 Source

SolarCity now has access to financing for more than $1 billion in new commercial-scale solar energy systems, including battery storage systems.

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Renew Economy Thursday, April 23, 2015 - 08:04 Source

Leading solar companies are moving beyond PV and into battery storage and home energy management. Is the mass market ready?

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MacroBusiness Thursday, April 23, 2015 - 07:53 Source

By Leith van Onselen After stealing a march on the Coalition yesterday over the issue of superannuation concessions, the Labor Opposition has now taken advantage of the community’s angst over negative gearing and has signalled that it may unwind the tax popular tax shelter. In an address to the National Press Club yesterday, Shadow Treasurer,

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MacroBusiness Thursday, April 23, 2015 - 05:52 Source

From the AFR: Under guidelines issued by APRA in December, banks are not meant to issue mortgages to borrowers unless stress testing shows they can afford to repay the loans on all their properties if mortgage rates hit 7 per cent. A confidential NAB mortgage calculator obtained by The Australian Financial Reviewshows NAB isn’t applying

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MacroBusiness Thursday, April 23, 2015 - 05:42 Source

By Leith van Onselen The Paris-Based Financial Action Task Force (FATF) on money laundering has released its report on Australia, which found that Australian residential property is a haven for international money laundering, particularly from China, and has recommended that Australia implement counter-measures to ensure that real estate agents, lawyers and accountants facilitating real estate

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MacroBusiness Thursday, April 23, 2015 - 03:05 Source

Yesterday I didn’t make much of the BHP announcement that it would delay some port work for one year which would also slow its rise from 275 million tonnes (mt) of output per year to 290mt. It didn’t register for me because I have never included the move to 290mt in my calculations given it

The post Fortescue gets ponzi bond away on BHP blunder (updated) appeared first on MacroBusiness.

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