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MacroBusiness Thursday, May 7, 2015 - 13:58 Source

From the IMF’s new Regional Economic Outlook: Asynchronous monetary policies in major advanced economies in response to divergent cyclical conditions have contributed to large and rapid exchange rate realignments. Robust growth and the prospect of higher interest rates in the United States, coupled with the start of quantitative easing in the euro area and further

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MacroBusiness Thursday, May 7, 2015 - 13:51 Source

Big iron ore is down today with BHP leading the way at minus 1.5%, RIO is down 0.7% and FMG is up slightly. The indexes: The idiocy spreads are closing once more, except for FMG: The juniors: Dalian is down 7 points at 435, right on cue as we passed over $60. We will be under it tomorrow.

The post Big iron sells with everything else appeared first on MacroBusiness.

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Thursday, May 7, 2015 - 13:46 Source

As Christine Milne steps aside, the Greens will present a new challenge on Labor's left flank, writes Ben Eltham.

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Renew Economy Thursday, May 7, 2015 - 13:40 Source

Just as important as how cheap batteries are getting is another crucial question: how much battery do you need?

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Thursday, May 7, 2015 - 13:35 Source

Senator Richard Di Natale, former GP and public health specialist, was widely described as “little known” in the mainstream media when he was elected leader of the Greens yesterday. But he is well known in health circles, where his...

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Renew Economy Thursday, May 7, 2015 - 13:34 Source

Tesla says demand for batter storage products "just nutty"; cites Australia and Germany as countries where household system will be economic.

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MacroBusiness Thursday, May 7, 2015 - 13:33 Source

From the Canbarra Times comes Sam Walsh who confirmed RIO will proceed with its looming expansion: Responding to recent criticism from Fortescue chairman Andrew Forrest and WA premier Colin Barnett, Mr Walsh said Rio’s growth strategy and market share had scaresely changed over the past decade. “A decade ago when I led the iron ore group,

The post RIO hoses down Forrest appeared first on MacroBusiness.

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Thursday, May 7, 2015 - 13:16 Source

The push to retry a man accused of murdering three Aboriginal children continues, with a new bill attempting to pave the way for justice. Amy McQuire reports.

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The Australian Independent Media Network Thursday, May 7, 2015 - 13:03 Source

 

PM Tony Abbott regards wealth as a refection of morals, the more money you have, the better person you are. Like right-wing corporate neo-cons the world over – if you are poor it is because you are lazy or stupid or hopeless or a drug addict or a “leaner” on welfare… and so do latte-sipping inner-city types who criticise the Western Suburbs.

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Renew Economy Thursday, May 7, 2015 - 13:01 Source

So, what does Tesla's battery storage offering, the Powerwall, mean for consumers. We include a unique online calculator to help you find out. On average, however, solar only continues to offer best value. But the grid only option comes last.

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MacroBusiness Thursday, May 7, 2015 - 12:52 Source

By Leith van Onselen As summarised earlier, the Australian Bureau of Statistics (ABS) today released labour force data for the month of April, which registered a small rise in the headline unemployment rate (from 6.1% to 6.2%). The result disappointed analyst’s expectations, who had expected the unemployment rate to rise to 6.1% but with 4,000

The post Unemployment in detail appeared first on MacroBusiness.

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MacroBusiness Thursday, May 7, 2015 - 12:36 Source

From RM: Roy Morgan Research’s Business Confidence results in April dropped by 7.3 points (down 6.5% to 105.1) from March. This is the lowest level since August 2011 (101.8) and continues the underlying downward trend seen since the peak of 136.3 in October 2013. It is also well below the five-year average of 117.3. These

The post RM business confidence sinks to new low appeared first on MacroBusiness.

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MacroBusiness Thursday, May 7, 2015 - 12:26 Source

Budget preview courtesy of Westpac.

The post Budget preview appeared first on MacroBusiness.

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Thursday, May 7, 2015 - 12:26 Source

Just four days old, Charlotte Elizabeth Diana Windsor has already made numerous public appearances and attended a series of photo ops. Her unspeakably cute, neonatal…

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MacroBusiness Thursday, May 7, 2015 - 12:18 Source

Market are sure determined to call the RBA’s bluff. I guess they know a bunny when they see one. Following another lukewarm labour market report, bonds have sold again with the 2 year now pricing half a rate hike at 2.13%: Very amusing! The longer end is harder to judge and is more influenced by

The post Australian bonds price rate hikes appeared first on MacroBusiness.

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MacroBusiness Thursday, May 7, 2015 - 12:13 Source

From UBS: China’s domestic raw iron ore production is falling, latest data is 105.1Mt/mth for Mar-15 vs 120.9Mt pcp. This measure we do not see as particularly timely nor reliable, but the direction is as we expect with prices under pressure. We believe that most of the shuts required from here in the iron ore market will need to

The post On China’s falling iron ore output appeared first on MacroBusiness.

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MacroBusiness Thursday, May 7, 2015 - 11:35 Source

The ABS has released the April labour market survey and it’s a dud: TREND ESTIMATES (MONTHLY CHANGE) Employment increased to 11,725,000. Unemployment decreased to 767,500. Unemployment rate decreased less than 0.1 pts to 6.1%. Participation rate remained steady at 64.8%. Aggregate monthly hours worked increased 6.9 million hours to 1,643.7 million hours. SEASONALLY ADJUSTED ESTIMATES

The post Jobs miss appeared first on MacroBusiness.

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WixxyLeaks Thursday, May 7, 2015 - 11:33 Source

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Fred Nile, the crazy so-called Christian with the balance of power in the NSW upper house would like us all to go back a century or two.

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MacroBusiness Thursday, May 7, 2015 - 11:26 Source

by Chris Becker Financial theory tells us that stock market bubbles and their demise are hard, if not impossible to predict and furthermore, history does not repeat itself or make “patterns”. Of course there’s a big difference when it comes to the practical side of finance, where human behaviour behind the bubbles and the busts

The post How high can the China stock bubble go? appeared first on MacroBusiness.

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Thursday, May 7, 2015 - 11:07 Source

It is odd that the obvious answer to everything, a house price cap, has not occurred to anybody. No politician, economist or commentator has thought of it, apparently, though it would save our economy from the purgatory it is currently in and the recession it is headed for. It would halve unemployment and put, perhaps, two hundred extra dollars a week, four hundred in some cases, in the pocket of each suburban consumer.

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MacroBusiness Thursday, May 7, 2015 - 10:51 Source

That’s what Gotti argues today at Dad’s Army: Overseas investors hammered the Australian bond market last night sending prices lower and yields higher which will have dramatic ramifications for Australian shares, property, banks, interest rates and the broader Australian economy. A key driver in the bond sell off is that, as a result of long

The post Are markets forcing rate hikes on Australia? appeared first on MacroBusiness.

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Renew Economy Thursday, May 7, 2015 - 10:46 Source

Record solar output in Germany meant that for first time ever, baseload power was more expensive than peak power on average in April.

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The Melbourne Urbanist Thursday, May 7, 2015 - 10:40 Source

Can the Greens do better on transport policy?

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MacroBusiness Thursday, May 7, 2015 - 10:27 Source

by Chris Becker Its an ugly start today on the local share market, with the ASX200 down nearly 1.5% on the open, with financials leading the way after NAB’s shock $5.5billion rights issue. The technical position here is dire if we close today or this week in the red, with 5500 points the next target:

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Thursday, May 7, 2015 - 10:11 Source

The National Mental Health Commission’s exhaustive 2014 Review of Mental Health Programmes and Services was finally released last month after it was leaked to media including to Croakey. The review raises a number of concerns about headspace,...

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Renew Economy Thursday, May 7, 2015 - 10:07 Source

The sensational low price of the system does not yet have the competition shaking in their boots; not officially, at least.

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Renew Economy Thursday, May 7, 2015 - 10:07 Source

The sensational low price of Tesla's battery system does not yet have the competition shaking in their boots; not officially, at least.

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Cheeseburger Gothic Thursday, May 7, 2015 - 10:04 Source

I'm putting together a feature for a magazine. Yes, I now, I promised never to do that again.... but they backed a truckload of money up to my front dooooor!

Anyway, having spent a couple of days researching it, I suddenyl realised I'd been wasting my time. Or at least not using it well. The best resource I had was here.

Why? Because the topic is the dying tradition of the boy's weekend. The lad's retreat. It's the suspicion of these editors, well founded I suspect, that the tradition of men taking time away from the family is in decline.

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MacroBusiness Thursday, May 7, 2015 - 09:44 Source

From the AIG: Australian PCI®– Key Findings for April: •The Ai Group/HIA Australian Performance of Construction Index (Australian PCI®) slipped into contraction in April, declining by 3.1 points to 47.0. •The new orders sub-index shed half of last month’s solid gains and fell back into negative territory, dropping 6.2 points to 44.6. •Construction activity declined

The post Construction PMI back in recession appeared first on MacroBusiness.

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MacroBusiness Thursday, May 7, 2015 - 09:39 Source

Apparently Ken Henry is to succeed Michael Chaney as NAB chairman at the end of this year. I’m a bit torn by this. On the one hand, Henry is a sensible policy-maker with a strong sense of the public good, and may be well placed to help NAB navigate the very difficult times ahead. On

The post Ken Henry joins the oligarchs appeared first on MacroBusiness.

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