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Cheeseburger Gothic Wednesday, June 3, 2015 - 08:04 Source

With the US/UK publication of RESISTANCE this week, the reviews are starting to come in and two in particular caught my eye. My Bookish Ways followed up an insightful critique of EMERGENCE with an even more astute reading of Dave's character (or lack thereof) in the second installment.

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MacroBusiness Wednesday, June 3, 2015 - 07:23 Source

By Leith van Onselen In this week’s email newsletter, available for free by signing-up here, managing director, Louis Christopher, shares his experience of a Sydney auction that he attended in the Sydney suburb of Seaforth: The three-bedroom, single level house in Sydney’s Seaforth was nice, but it was nothing special. Set on just 550sqm it

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Wednesday, June 3, 2015 - 05:47 Source

Abbott rejoiced in the ruin of a million lives by saying he was pleased to see house prices, presently the highest in world history, going up even further in Sydney and Melbourne. Dismay flooded through Treasury which thought house prices a national calamity.

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MacroBusiness Wednesday, June 3, 2015 - 00:30 Source

From The Australian late yesterday: Asked again today if he agreed with his top economic adviser, Mr Abbott replied: “Millions of Australians have mortgages and the last thing they want to see is the decline in the value of their most important asset. “(Mr Shorten) is someone who wants to be the prime minister of

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MacroBusiness Wednesday, June 3, 2015 - 00:29 Source

By Leith van Onselen As noted by Houses & Holes already, Prime Minister Tony Abbott has gone full bore for the grey vote, promising no changes to negative gearing or capital gains tax concessions, no changes to super, and now promising ever-rising house prices. On Monday, Abbott explained why he wants to see Sydney house

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MacroBusiness Wednesday, June 3, 2015 - 00:21 Source

For two meetings in a row, the RBA has added two cents to the currency. Last night was helped along by a weak US dollar but the crosses table shows you the damage done by the central bank. All green: This is all the more odd given that the Aussie clearly wants to go lower.

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MacroBusiness Wednesday, June 3, 2015 - 00:19 Source

It’s the oldest trick in the book. When the data turns against you, discount it. From Bill Evans at Westpac: As expected, the Reserve Bank Board decided to leave the cash rate unchanged at 2% today. Of most interest has been the choice of words in the concluding paragraph as to whether the Board would adopt

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MacroBusiness Wednesday, June 3, 2015 - 00:03 Source

Here are the iron ore charts for June 2, 2015: Spot up firmly though less than Dalian suggested it should be. Singapore 12 month swaps still largely disinterested. Dalian itself is flat overnight at 440. Both Dalian and spot have technically bullish ascending triangle patterns. Rebar slides on telling us fundamental demand still stinks. Reuters has texture:

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MacroBusiness Wednesday, June 3, 2015 - 00:02 Source

Cross-posted from Investing in Chinese Stocks. From iFeng: 房价还能涨多久:部分地区完全无投资价值 come an article explaining property bifurcation. Price rises may be limited by areas with absolutely no investment value. The entire country has eased policy either via national policy or local easing, with only 5 cities (first-tier plus Sanya) maintaining any buying restrictions. Most areas outside of the first-tier

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MacroBusiness Wednesday, June 3, 2015 - 00:01 Source

Macro, Markets & Investing The Liquidity Time Bomb – Project-Syndicate, Roubini Low Oil Prices a Tough Balancing Act for Petrostates – WSJ El Niño may deliver a boost to oil, gold, other commodities futures – Market Watch Margin Debt At Record Highs! – Short Side of Long Japan’s nuclear plan is bad news for LNG,

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Tuesday, June 2, 2015 - 16:52 Source

George Brandis’ raid on arts funding tells us a lot about the culture wars, writes Ben Eltham.

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MacroBusiness Tuesday, June 2, 2015 - 16:02 Source

Stan Shamu for Chris Weston, Chief Market Strategist at IG Markets Greenback grinds higher It’s been a lacklustre day for Asian equities with even Japanese and Chinese markets taking a breather after the recent run. While equities have been in this lull, the greenback has continued to grind its way higher, this time benefiting from

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Tuesday, June 2, 2015 - 15:23 Source

The claim

“Any changes to the GST are a matter for the states.” Tony Abbott

The evidence

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Renew Economy Tuesday, June 2, 2015 - 14:41 Source

Queensland Competition Authority to lift solar feed in tariff for Ergon solar households after RenewEconomy points out error.

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MacroBusiness Tuesday, June 2, 2015 - 14:33 Source

RBA holds and Captain Glenn puts us all to sleep today with the same old pap: Statement by Glenn Stevens, Governor: Monetary Policy Decision At its meeting today, the Board decided to leave the cash rate unchanged at 2.0 per cent. The global economy is expanding at a moderate pace, but some key commodity prices

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MacroBusiness Tuesday, June 2, 2015 - 14:14 Source

By Leith van Onselen Yesterday I noted that the Paris-Based Financial Action Task Force (FATF) on money laundering had in April released its report on Australia, which found that Australian residential property is a haven for international money laundering, particularly from China. The report also recommended that Australia implement counter-measures to ensure that real estate

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Tuesday, June 2, 2015 - 13:51 Source

Climate change was called this century’s greatest threat to health in the longest paper ever published in The Lancet; and this paper is frequently cited by people advocating for increased action in this area. This sentiment has been echoed in the...

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MacroBusiness Tuesday, June 2, 2015 - 13:45 Source

BHP is down 2% and RIO 1.5% today for no apparent reason beyond weak leads in London. FMG is flat. To the indexes: The idiocy spreads are flat: And juniors mostly bleeding lower again: Dalian is down one from this morning at 440 but still up four from yesterday and 15 from Friday. The spot

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Renew Economy Tuesday, June 2, 2015 - 13:37 Source

Solar installation rates in New Zealand have grown by more than 220% in 2015, over the previous 18 months.

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Renew Economy Tuesday, June 2, 2015 - 13:36 Source

Nominal cycle lifetime, recommended depth of discharge, round-trip storage efficiency: 3 characteristics to understand when choosing energy storage.

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Renew Economy Tuesday, June 2, 2015 - 13:34 Source

UTS team develops breakthrough 'cool roof' solution which could help reduce urban heat island effect, and peak power demand.

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Renew Economy Tuesday, June 2, 2015 - 13:31 Source

Sweden's 5.5GW of wind farms contributed more energy to the country's grid than its 9.5GW of nuclear power plants on June 01.

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MacroBusiness Tuesday, June 2, 2015 - 13:29 Source

From Westpac’s Andrew Hanlan: Q1 GDP, we have rounded up our forecast to 0.7%qtr, 2.1%yr, from 0.6%qtr, 2.0%yr. Q1 net exports: +0.5ppts Net exports will make a sizeable positive contribution to Q1 GDP growth of 0.5ppts. That exceeds expectations (mkt median 0.0ppt, Westpac +0.1ppts). Export volumes surprised, up 5.0% vs Westpac f/c 2.8%. Import volumes

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Tuesday, June 2, 2015 - 13:28 Source

It’s comforting to know that the Australian people aren’t the only ones not getting answers from the Australian Government. Thom Mitchell reports.

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Renew Economy Tuesday, June 2, 2015 - 13:25 Source

Panasonic says its battery storage system will offer Australian utilities – both retailers and networks – the opportunity to develop new business models. But effectively, they have no choice.

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Tuesday, June 2, 2015 - 13:13 Source

As natural disasters displace record numbers, Australia is being warned to put plans in place. Max Chalmers reports.

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Renew Economy Tuesday, June 2, 2015 - 13:00 Source

Australia's "Chief Economist" has released a report entitled “Coal in India”. It gives a hopelessly optimistic view of the export market for Australian coal.

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MacroBusiness Tuesday, June 2, 2015 - 12:51 Source

From Macquarie on equity market performance in May: The S&P/ASX300 Accumulation Index returned +0.4% in May (CYTD +9.0%), with Resources (+0.6%) and the Market ex Res (+0.4%) posting similarly modest gains. The Banks sector (-3.2%) was the notable underperformer for a second consecutive month amid ongoing capital concerns, with Retail (+5.8%) and Div Fins (+4.3%)

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MacroBusiness Tuesday, June 2, 2015 - 12:45 Source

Via AAP comes the following interesting development: The Australian Tax Office is investigating 195 properties that have possibly been purchased illegally by foreign investors. Acting second tax commissioner Neil Olesen confirmed the number at a Senate estimates hearing in Canberra on Tuesday but was unable to provide a breakdown of price ranges. “I wouldn’t be

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MacroBusiness Tuesday, June 2, 2015 - 12:41 Source

From Citi: There is considerable international media reporting of the upcoming (5 June) vote by the Norwegian parliament on whether the approximately US$900bn sovereign wealth fund should exclude companies with more than 30% of their revenue from coal mining, and electricity generators with more than 30% of their generation from coal. The media reports that

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