Blogotariat

Oz Blog News Commentary
Wednesday, April 1, 2015 - 09:56 Source

My computer is suddenly broken, and it’s of a type so rare and superseded I must wait a week for its replacement to fly in from overseas.

I may therefore write less in the next few days, in particular less of the ‘worst’ series — feeling, as I do, disoriented, insecure and a trifle apprehensive.

I am still here. But I won’t be able to read your responses for a few days.

Forgive me, and carry on, as I’m sure you will, commenting and arguing as before.

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MacroBusiness Wednesday, April 1, 2015 - 09:47 Source

I’ve had a number of inquiries asking for help on formatting problems with the new theme. We’re working through many of your kindly suggestions but if the posts are not updating on your screen or there the formatting is amiss then clear your browser cache. That will solve most problems.

The post Formatting troubles with new site? appeared first on MacroBusiness.

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MacroBusiness Wednesday, April 1, 2015 - 09:42 Source

By Leith van Onselen The final report of the Harper competition policy review has been released and urges the government to free-up rules preventing competition in the the pharmacy and taxi industries, as well as in the delivery of urban land supply. On pharmacies, the report recommends dumping pharmacy location and ownership rules: The current

The post Competition review targets pharmacies, taxis, planning appeared first on MacroBusiness.

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MacroBusiness Wednesday, April 1, 2015 - 09:41 Source

By Chris Becker Risk markets flopped last night even as German unemployment went down, UK GDP surprised on the upside but EZ CPI indicated a further slip into deflation across the continent. The moves down were probably end of month and quarter repositioning with no macro or central bank talkfests catalysts providing an answer. To

The post Macro Morning: Risk awf appeared first on MacroBusiness.

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Wednesday, April 1, 2015 - 09:40 Source

The New Matilda 20 Question Challenge returns. This week is Tim Anderson, the political activist acquitted after being jailed for the 1978 Hilton Hotel bombing.

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MacroBusiness Wednesday, April 1, 2015 - 09:36 Source

From The Australian: As iron ore prices threaten to slip below $US50 a tonne and Andrew “Twiggy” Forrest calls for production restraint, his Fortescue Metals Group and BHP ­Billiton have each applied for state government approval to boost iron ore output. In separate applications to the West Australian Environmental Protection Authority in recent weeks, the

The post FMG, BHP apply for mine expansion permits appeared first on MacroBusiness.

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MacroBusiness Wednesday, April 1, 2015 - 09:29 Source

April fool! The manufacturing recession rolls endlessly on and really is the butt of all jokes: The Australian Industry Group Australian Performance of Manufacturing Index (Australian PMI®) moved up by 0.9 points to 46.3 points in March (seasonally adjusted). This indicated a fourth consecutive month of contraction in activity (readings below 50 points indicate contraction) across the manufacturing sector

The post Manufacturing PMI booms! appeared first on MacroBusiness.

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Wednesday, April 1, 2015 - 09:26 Source

Not many films are life-changers. Babe comes to mind, Platoon, Bob & Carol & Ted & Alice, Wall Street, The Insider, Thank You For Smoking, Downfall. To this unremarkable, extendable shortlist might be lately added, for obvious reasons, Supersize Me; and now, its much more brilliant successor, That Sugar Film.

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Wednesday, April 1, 2015 - 09:19 Source

A four-legged soldier injured in battle and lost in the desert has passed away peacefully in Canberra. Thom Mitchell reports on the extraordinary story of Sarbi.

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The Australian Independent Media Network Wednesday, April 1, 2015 - 07:54 Source

Author’s note: Every day on Facebook I post general interest political comments pertaining to the 24hour news cycle. Here they are in diarised form:

Sunday March 1. 90% of superannuation assets are held by the top 12% of wage earners and by 2018 tax breaks will cost the taxpayer $50 billion pa. How any government can justify this is unexplainable. Never in the history of this nation have the rich and privileged been so openly brazen.

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MacroBusiness Wednesday, April 1, 2015 - 07:30 Source

The IMF has released its Commitment of Foreign Reserves (COFER) update for Q4 2014 and it registered a big fall:   The 5.2% fall was the highest among all of the currencies tracked by the IMF but is roughly equal to the fall in value. I expect central banks to remain leery given the notion that

The post Au revoir Australian dollar safe haven? appeared first on MacroBusiness.

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MacroBusiness Wednesday, April 1, 2015 - 07:25 Source

By Leith van Onselen SQM Research’s managing director, Louis Christopher, released his weekly email newsletter last night, which once attempted to dispel the notion that Australia has a housing bubble: I’ve noticed increasing media chatter about a national housing bubble that we apparently have, here and now! Let me tell you it’s wrong to take

The post SQM: No national housing bubble appeared first on MacroBusiness.

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MacroBusiness Wednesday, April 1, 2015 - 07:24 Source

By Leith van Onselen The Australian Bureau of Statistics (ABS) yesterday released its Regional Population report for the 2013-14 financial year, which revealed that Melbourne remains king of the population ponzi, adding a whopping 95,700 people (an MCG’s worth) to its population in 2013-14, representing growth of 2.2%: The highest rate of growth, however, was

The post Melbourne: Lord of the population ponzi appeared first on MacroBusiness.

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MacroBusiness Wednesday, April 1, 2015 - 07:23 Source

By Leith van Onselen The Labor Party has released a housing affordability discussion paper, which is aimed at informing Labor’s Housing Affordability Strategy that it will take to the next election. The discussion paper calls for submissions by 1 May 2015. Below are some key extracts from this paper: A key focus of this Discussion

The post Labor releases housing affordability paper appeared first on MacroBusiness.

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MacroBusiness Wednesday, April 1, 2015 - 07:20 Source

From Forexlive, OIS is pricing 74% chance of cut in April but RBS says 100%: “We agree that there is little reason for the RBA to wait…However, we doubt the RBA will rush to cut rates after April and it may not need to if the AUD falls as we expect it to against a

The post RBS: 100% chance of April rate cut appeared first on MacroBusiness.

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George Monbiot Wednesday, April 1, 2015 - 06:51 Source

Theft through excessive rewards: that’s the dominant business model.

By George Monbiot, published in the Guardian 1st April 2015

There is an inverse relationship between utility and reward. The most lucrative, prestigious jobs tend to cause the greatest harm. The most useful workers tend to be paid least and treated worst.

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MacroBusiness Wednesday, April 1, 2015 - 06:11 Source

As iron ore plunges so too does RIO’s outlook whether markets are pricing it or not. On a spot price scenario, RIO’s iron ore margin is now down to mid teens:   Pre-tax profits are 35% below consensus for this year and below half in later years:   And the idiocy spread is as wide as

The post RIO’s profits are being smoked appeared first on MacroBusiness.

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MacroBusiness Wednesday, April 1, 2015 - 06:10 Source

Now that’s a question and not an entirely facetious one. Hear me out. All media today focuses on one aspect of the crash, the big miners, from Bloomie: “There’s a bit of a self-destructing behavior by the big miners,” Philip Kirchlechner, former head of marketing at Fortescue and former chief iron ore representative at Rio

The post Is iron ore going to zero? appeared first on MacroBusiness.

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MacroBusiness Wednesday, April 1, 2015 - 05:00 Source

Here are the iron ore price charts for March 31, 2015         Benchmark Tianjin iron ore fell 3.6% to $51, the lowest since 2008 and in the history of the pricing index. Qingdao fell 2.5% to $51.35, also the lowest in the index history. 12 month swaps are a sinking anvil. Dalian

The post Daily iron ore price update (another day, another crash) appeared first on MacroBusiness.

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MacroBusiness Wednesday, April 1, 2015 - 04:59 Source

The Brent oil price fell overnight to $55.30. The main driver is the wait for the outcome of the Iran deal. More on that is available here and here. I’ll be surprised if talks fail but we shall see. In other news, US shale is powering on, from the FT: US independent oil and gas companies have

The post Daily LNG price update (US boom) appeared first on MacroBusiness.

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MacroBusiness Wednesday, April 1, 2015 - 04:43 Source

From SCMP: A senior executive at one of China’s largest steel companies is being investigated on suspicion of corruption, as the Communist Party’s anti-graft watchdog shifts its focus to major state-owned enterprises. Cui Jian, 55, vice-president of the Shanghai-based Baosteel Group, was suspected of “serious disciplinary violations”, a euphemism for corruption, Shanghai disciplinary authorities said

The post Chinese anti-corruption push turns on steel appeared first on MacroBusiness.

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MacroBusiness Wednesday, April 1, 2015 - 04:42 Source

Cross-posted from Investing in Chinese Stocks. Liu Shan warns investors not to expect a quick turn in the housing market, iFeng: 第66期:房地产新政刺激了谁: But must not think that the real estate policy has turned to the real estate market will bounce back. Current policy is still deregulation, rather than strong stimulus. Prior to a series of real

The post As one Chinese bubble falls, another rises appeared first on MacroBusiness.

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MacroBusiness Wednesday, April 1, 2015 - 04:31 Source

Markets & Macro No End in Sight for Bond Rally as ECB Spigot Spills Across Globe – Bloomberg China lobbies US to include yuan in IMF’s reserve assets – SCMP Losing a job is always terrible. For workers over 50, it’s worse. – Washington Post The Monetarist Mistake – Project-Syndicate, DeLong The Coming Emerging-Market Debt

The post Links 1 April, 2015 appeared first on MacroBusiness.

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Wednesday, April 1, 2015 - 00:18 Source

David Pope in the Canberra Times, 30 March 2015Brisbane Times 30 March 2015:Treasurer Joe

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Wednesday, April 1, 2015 - 00:16 Source

Clarence Valley Council media release 30 March 2015:Changes to water restrictions in the pipelineA DRAFT policy that aims to cut water use during dry spells has been released by the Clarence Valley Council for public comment.Council works and civil director, Troy Anderson, said the aim of the draft was to ensure supply never reached critically low levels and the policy complied with water legislation and licencingrequirements.“Because we share a water supply with Coffs Harbour, we are working with the Coffs Harbour City Council to make sure we have consistent policies, that restrictions on water use are similar and areintroduced at the sam

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Wednesday, April 1, 2015 - 00:15 Source

Australian Liberal Party Prime Minister Anthony John ‘Tony’ Abbott decided to have a go at Victorian Labor Party Premier Daniel Michael ‘Dan’ Andrews with a silly one liner.“If you can change your name, you can change your mind”  said ‘Tony’ of ‘Dan’ at the Victorian Liberal State Council meeting on 28 March 2015.Tony not only goes by an abbreviated first name just like Dan, like Dan he uses his full name when required.

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Tuesday, March 31, 2015 - 20:59 Source

(First published by Independent Australia)

There is a new kind of neurosis simmering in the media. It might be called Aeronautical Hypochondria. Or Air Crash Porn.

A plane goes down. The media investigates. Conspiracy theories multiply. And a lot of money is made by lawyers, forensics, and army personnel.

The most remarkable case, probably, was a couple of years ago. A plane took off in New York, hit a flight of ducks, landed safely in the Hudson. The whole thing took forty-five seconds.

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The Tally Room Tuesday, March 31, 2015 - 19:44 Source

Last night I posted an update on the count in the close counts in Lismore, Gosford and East Hills. In this post, I’ll update the count in these three seats, and also cover progress in The Entrance.

The Entrance

ALP
ALP %
LIB
LIB %
Exhausted

Counted so far
15,705
50.65%
15,303
49.35%
2,416

Projected
24,104
50.00%
24,107
50.00%
3,651

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The Australian Independent Media Network Tuesday, March 31, 2015 - 17:51 Source

Should Australian governments choose to shift—or be perceived to be shifting—against China, the dangers for Australia will become exponentially greater. Dr Strobe Driver reports.

Australia and Its Pathway

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MacroBusiness Tuesday, March 31, 2015 - 16:14 Source

Chris Weston, Chief Market Strategist at IG Markets Equity bulls will be sad to see the end of the first quarter, with some outrageous gains in global markets, especially with the right hedging policy. The big consensus trades have been long Europe, Japan and China, while underweight US stocks exposed to a stronger USD. Short

The post ASX at the close appeared first on MacroBusiness.

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