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Popular Science Monday, July 20, 2015 - 09:41 Source

Electric car maker Tesla conducted a mysterious conference call/press announcement today. By “mysterious,” of course, we simply mean they didn't announce what they were talking about beforehand, and the Internet immediately labeled it mysterious, even though they never announce what they're going to talk about. That company gets buzz handed to it on a silver platter …

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Popular Science Monday, July 20, 2015 - 09:36 Source

Apparently, robots like road trips. A Canadian robot, hitchBOT started out on a cross-country road trip today, planning to travel from Boston, all the way out to San Francisco, sightseeing along the way.

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Popular Science Monday, July 20, 2015 - 09:36 Source

Let's all take a moment to think about velociraptors.

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MacroBusiness Monday, July 20, 2015 - 09:34 Source

APRA has finally moved on the dark heart of Australia’s mortgage bubble following suggestions of the Murray Inquiry: The Australian Prudential Regulation Authority (APRA) has today announced an increase in the amount of capital required for Australian residential mortgage exposures by authorised deposit-taking institutions (ADIs) accredited to use the internal ratings-based (IRB) approach to credit

The post APRA jacks mortgage risk weights appeared first on MacroBusiness.

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MacroBusiness Monday, July 20, 2015 - 09:22 Source

So says the London Telegraph, perhaps smarting from an Ashes thumping: While the rest of the world suffered from the aftermath of the global financial crisis, Australia’s economy – closely tied to China – appeared impervious, with full employment and a healthy trade surplus. However, a collapse in iron ore and coal prices coupled with

The post Is Australia the “next Greece”? appeared first on MacroBusiness.

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The Australian Independent Media Network Monday, July 20, 2015 - 08:56 Source

NOT A REAL HEADLINE – JUST IN CASE IT’S HARD TO TELL!

From Wikipedia:

” In 2007, she (Bronwyn Bishop) sang a duet of Irving Berlin‘s A Couple of Swells with then Health Minister, Tony Abbott, at a fund-raiser in Sydney.

Ok, it’s a very old song. Even older than the Liberal Party, I think, but I’m not sure, but if we just keep repeating that it may be eventually considered true. That’s what a “factoid” is.

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MacroBusiness Monday, July 20, 2015 - 08:37 Source

By Leith van Onselen BIS Shrapnel is warning of a imminent housing glut by 2018, which it argues will hit Melbourne’s and Perth’s markets most severely. From The AFR: The national undersupply, which peaked at 108,000 homes last financial year, will fall into a net glut of over 12,000 dwellings in the year to June

The post Get ready for a housing glut appeared first on MacroBusiness.

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Monday, July 20, 2015 - 08:03 Source

It’s worthwhile noting what ‘corrupt’ means.

It is, or it can mean, the misuse of public money, as in a helicopter trip, provided by a friend of a man in Bronwyn’s office, at a cost higher than the minimum.

But it can be also, surely, the use of Bronwyn’s office, provided free by her, for Liberal fundraisers. She is supposed to be above party politics, and is fundraising for a particular party. She chided Gillian Triggs for ‘not getting into politics’, like her, on Q&A, when she, amazingly, was already
Speaker.

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MacroBusiness Monday, July 20, 2015 - 08:01 Source

By Chris Becker The ebullient mood in Asia did not translate into similar gains across the continent nor in the US to finish another volatile week on world markets. The exception was the NASDAQ which extended its record high on some good Google earnings news. Construction figures for June were better than expected and no

The post Macro Morning (gold $1000) appeared first on MacroBusiness.

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MacroBusiness Monday, July 20, 2015 - 07:46 Source

The Aussie battler was thumped Friday night again and the chart sure looks bearish for more with a busted descending triangle and head and shoulders pattern: Market position has also shifted strongly bearish with last week’s Commitment of Traders report showing a big move short by large speculators to minus 33.5k contracts: Markets can get

The post Morgan Stanley: Australian dollar going much lower appeared first on MacroBusiness.

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MacroBusiness Monday, July 20, 2015 - 07:31 Source

By Leith van Onselen The Australian has published an article today claiming that Treasurer Joe Hockey will take cuts to personal income taxes to the next election: Australia’s top tax rate is “way too high’’ and the taxation system is compounding the headache of bracket creep as a disincentive to earn, Joe Hockey has conceded

The post Joe Hockey to cut income taxes? appeared first on MacroBusiness.

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Monday, July 20, 2015 - 07:13 Source

I will put up some classic pieces, if  I can find them, on Bronwyn from The Hewson Tapes and Goodbye Jerusalem. Am feeling a bit crook, and hearing of miracle cures. Am editing Tony Abbott: The Two Hundred Worst Days …

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The Australian Independent Media Network Monday, July 20, 2015 - 07:00 Source

By Jennifer Wilson

Back in the day, second-wave feminists warned us to ditch our high heels because they hampered us if we needed to move fast or even at a reasonable pace, and if you ever wear high heels, you know that to be true. I just dug out an ancient pair, red satin with a high gold heel and long pointed toes and if the heels don’t cripple you the toes will become trapped in pavement cracks and you’ll go either arse backwards or head forward and either way, your progress will be impeded and physical injury may result.

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MacroBusiness Monday, July 20, 2015 - 06:17 Source

This story from Fairfax is a little unsettling: Commonwealth Bank, Westpac, ANZ and National Australia Bank have raised $65.2 billion in wholesale debt from investors this calendar year, the lowest running total since at least 2012, Bloomberg data show. It is significantly less than the $90 billion raised at this time last year…NAB senior credit analyst Simon Fletcher said

The post Big banks showing funding stress already? appeared first on MacroBusiness.

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Cheeseburger Gothic Monday, July 20, 2015 - 06:15 Source

Most everyone will have seen the footage of the shark that tried to make a snack of Mick Fanning during a surf meet in South Africa.

The really amazing thing wasn't just Fanning getting away, but the performance of the commentator who didn't freak out and didn't speculate about what was happening. He kept his shit cool and described only what he could see.

Some mainstream news anchors could do with some of that training next time there's an incident with the terrerisms.

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MacroBusiness Monday, July 20, 2015 - 05:42 Source

Core Logic-RP Data released its auction market report last night, which revealed a slight improvement in the national auction clearance rate. The preliminary national clearance rate was 77.0%, up marginally from the 76.2% rate recorded last weekend, according to Core Logic-RP Data: Sydney’s clearance rate rose by 1.6% to 82.6%, whereas Melbourne’s was 74.9%, down

The post Auction clearances still locked in orbit appeared first on MacroBusiness.

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MacroBusiness Monday, July 20, 2015 - 00:19 Source

From Westpac’s superb Red Book of consumer sentiment: ― The Westpac–Melbourne Institute Consumer Sentiment Index fell 3.2% in Jul from 95.3 in Jun to 92.2, the lowest print since Dec.   ― Overseas events were a major negative with the survey conducted at the height of the latest crisis in Greece and China’s sharemarket slump.

The post Red Book: Consumer to slow appeared first on MacroBusiness.

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MacroBusiness Monday, July 20, 2015 - 00:11 Source

US inflation numbers were out Friday night they are still a problem for a Fed wanting to tighten, from the Cleveland Fed: MEDIAN CPI UP 0.3% IN JUNE According to the Federal Reserve Bank of Cleveland, the median Consumer Price Index rose 0.3% (3.6% annualized rate) in June. The 16% trimmed-mean Consumer Price Index rose

The post US lowflation still in the way of Fed hikes appeared first on MacroBusiness.

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MacroBusiness Monday, July 20, 2015 - 00:10 Source

The Brent oil price was virtually unchanged Friday at $57.08. News was mixed with the US rig count coming off again falling 6 to 857: Offsetting that was a strong US dollar and decidedly bearish IEA in its monthly oil market report: Oil prices tumbled again in the last month, with front-month WTI futures down about

The post Daily LNG price update (future pain) appeared first on MacroBusiness.

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MacroBusiness Monday, July 20, 2015 - 00:05 Source

Here are the iron ore charts for July 17, 2015: No update for spot or port stocks. 12 month swaps had a better day and Dalian is up another 3 points overnight to 370. Rebar average is poised to drop to new lows. In news, I’ve lost of how many stories I’ve read since last

The post Daily iron ore price update (out of control) appeared first on MacroBusiness.

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MacroBusiness Monday, July 20, 2015 - 00:03 Source

Over the weekend, China released its June property price data and the recovery continues with new home prices up 0.4% on the month and still accelerating: Prices are still down -4.9% year on year but clearly past the nadir: Prices rose in 27 of 70 cities month-on-month (vs. 20 in May) and fell in 33 cities

The post China property recovery continues, such as it is appeared first on MacroBusiness.

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MacroBusiness Monday, July 20, 2015 - 00:02 Source

From Bloomberg: China has created what amounts to a state-run margin trader with $483 billion of firepower, its latest effort to end a stock-market rout that threatens to drag down economic growth and erode confidence in President Xi Jinping’s government. China Securities Finance Corp. can access as much as 3 trillion yuan of borrowed funds

The post China to buy, buy, buy stocks appeared first on MacroBusiness.

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MacroBusiness Monday, July 20, 2015 - 00:01 Source

 Courtesy of Zero Hedge comes a slew of commentary on why Chinese GDP is suddenly looking decidedly dodgy: The slew of economic data out of China this week had economists chuckling into their GDP spreadsheets. No-one I meet really believes the economy is growing anywhere near the 7% the Chinese Statistics Bureau insists is the

The post Markets turn on dodgy Chinese GDP appeared first on MacroBusiness.

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MacroBusiness Sunday, July 19, 2015 - 23:49 Source

Macro, Markets & Investing Doubling down on a summer correction – Market Watch How the stock market destroyed the middle class – Market Watch History suggests rising rates are not necessarily bad news for investors – Telegraph Western revival too weak for a rate rise in the short term – Telegraph, Halligan Deal Could Cut

The post Links 20 July 2015 appeared first on MacroBusiness.

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Damian Smith Sunday, July 19, 2015 - 20:06 Source

“Just then they came in sight of thirty or forty windmills that rise from that plain. And no sooner did Don Quixote see them that he said to his squire, “Fortune is guiding our affairs better than we ourselves could have wished. Do you see over yonder, friend Sancho, thirty or forty hulking giants? I intend to do battle with them and slay them. With their spoils we shall begin to be rich for this is a righteous war and the removal of so foul a brood from off the face of the earth is a service God will bless.”“What giants?” asked Sancho Panza.“Those you see over there,” replied his master, “with their long arms.

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Damian Smith Sunday, July 19, 2015 - 20:06 Source

“Just then they came in sight of thirty or forty windmills that rise from that plain. And no sooner did Don Quixote see them that he said to his squire, “Fortune is guiding our affairs better than we ourselves could have wished. Do you see over yonder, friend Sancho, thirty or forty hulking giants? I intend to do battle with them and slay them. With their spoils we shall begin to be rich for this is a righteous war and the removal of so foul a brood from off the face of the earth is a service God will bless.”“What giants?” asked Sancho Panza.“Those you see over there,” replied his master, “with their long arms.

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Sunday, July 19, 2015 - 19:49 Source

My wife will be putting up on Ellis Gold my launch of the John Killick book Gambling For Love. John escaped from Silverwater prison in a helicopter hijacked and commandeered by his love, Lucy Dudko. The book is superbly written, …

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Sunday, July 19, 2015 - 19:49 Source

A new Sydney play from the makers of 'The Year of Abbott' zeroes in on the launch of Kevin Rudd's auto-biography.

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Sunday, July 19, 2015 - 19:23 Source

And we’ve provided brief translations at the end of each paragraph. You're welcome.

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The Australian Independent Media Network Sunday, July 19, 2015 - 19:21 Source

By Ross Hamilton

The Hon. Bronwyn Bishop, Speaker of the House of Representatives of the Australian Parliament has previously made it abundantly clear that she has no intention of abiding by the required neutrality of her position. That significant breach of public trust has now been considerably compounded by her recent unacceptable claims of expenditure as electoral business.

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