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MacroBusiness Monday, May 25, 2015 - 00:35 Source

Two points of interest from the US on Friday night hammered the Aussie dollar back to 78 cents (thank you Madometer). The first was US inflation which came in firm on the surface at 0.3% for the month and 3.1% year on year: According to the Federal Reserve Bank of Cleveland, the median Consumer Price

The post Australian dollar smacked on hawkish Yellen appeared first on MacroBusiness.

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MacroBusiness Monday, May 25, 2015 - 00:34 Source

By Leith van Onselen The Trans-Pacific Partmership (TPP) trade agreement moved one step closer to conclusion on Friday, with the US Senate passing so-called “Fast Track Authority”, which would allow the President to negotiate an agreement and have Congress pass it without amendment. The Fast Track bill will now move to the House of Representatives

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MacroBusiness Monday, May 25, 2015 - 00:30 Source

From Westpac’s consumer bible, the Red Book: ― The Westpac–Melbourne Institute Consumer Sentiment Index rose 6.4% in May from 96.2 in Apr to 102.4. This is a positive result and the highest reading since Jan last year. ― The two driving forces behind this month’s gain are the Budget and the RBA’s May rate cut. The survey detail suggests a

The post Red Book: Consumer firms but WA crashes appeared first on MacroBusiness.

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MacroBusiness Monday, May 25, 2015 - 00:27 Source

Click to view Core Logic-RP Data’s latest weekly housing market update, which provides a useful snapshot of the housing market as at 24 May 2015. This week’s report includes: Latest weekly dwelling value results; Auction results & clearance rates; Latest median house & unit prices; Average time on market & vendor discounts; Mortgage market activity;

The post RP Data weekly housing market update appeared first on MacroBusiness.

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MacroBusiness Monday, May 25, 2015 - 00:26 Source

The national auction clearance rate rose over the weekend, continuing the strongest run of results for around six years. The preliminary national clearance rate was 78.4%, up from the 76.4% recorded last weekend, according to Core Logic-RP Data: Sydney’s clearance rate rose 1.4% to 86.9%, whereas Melbourne’s jumped by 5.7% to 80.0%. Clearances in Brisbane,

The post Auction clearances sealed in bubble appeared first on MacroBusiness.

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MacroBusiness Monday, May 25, 2015 - 00:20 Source

From Matthew Stevens, where there is coal there is life apparently: Australia’s Indian coal adventurer, Adani Group, has inked a September start date to begin off-site work on its controversial $US16 billion Carmichael coal mine project. …There are two core reasons for this determination to seize the moment. First, Adani’s four-year quest to get on

The post Adani coal quango sets deadline appeared first on MacroBusiness.

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MacroBusiness Monday, May 25, 2015 - 00:05 Source

Here are the iron ore charts for May 23, 2015: Qingdao spot took off without warning or paper support. Paper is still treading water. Dalian added one point Friday night to be at 421 this morning. Rebar average continues its slow bleed out. The restock rolls on. In steel, CISA mills’ average daily crude steel

The post Daily iron ore price update (boing) appeared first on MacroBusiness.

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MacroBusiness Monday, May 25, 2015 - 00:05 Source

The Brent oil price fell back Friday night as data and a strong US dollar weighed. On the former, the US rig count fall is over, down just one to 885: So, what sort of recovery will we see? V-shaped? U-shaped? Rigs do follow price with a lag. In the GFC, the recovery was very

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

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MacroBusiness Monday, May 25, 2015 - 00:03 Source

Cross-posted from Investing in Chinese Stocks. From iFeng: 土地市场跌至五年冰点 房企拿地热情不高: “Now to the inventory is still the top priority, we are very careful about second-tier cities, third- and fourth-tier cities we have all withdrawn and in the future will basically no longer purchase land in these areas.” A national housing prices president told reporters. …May 19,

The post The ghosts of Ordos return to haunt it appeared first on MacroBusiness.

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MacroBusiness Monday, May 25, 2015 - 00:02 Source

From SocGen’s Wei Yao via FTAlphaville: Three developments in the past two weeks suggest that Chinese policymakers are yielding to the pressure arising from economic deceleration and are easing the implementation of fiscal reform. These policy adjustments are being touted by many as a major retracement of reform and deleveraging efforts, but we do not entirely

The post Mapping China’s glide slope appeared first on MacroBusiness.

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MacroBusiness Monday, May 25, 2015 - 00:01 Source

Global Macro / Markets / Investing: Overvalued in Silicon Valley, but Don’t Say ‘Tech Bubble’ – New York Times Is Finance Parasitic? – Uneasy Money The Risks of Owning an Individual Stock – alphaarchitect.com Like Buffett, Another Folksy Investor Turns Patience Into Profit - Wall Street Journal Here’s a great chart showing all the times

The post Links 25 May 2015 appeared first on MacroBusiness.

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Sunday, May 24, 2015 - 22:32 Source

The 13th National Rural Health Conference kicked off in Darwin yesterday, and below are some of the introductory reports. Two hashtags are running – follow #ruralhealthconf and #NRHC15. Also follow @WePublicHealth, where rural mental health...

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The Political Sword Sunday, May 24, 2015 - 18:30 Source

I would like to state upfront that I already had the word ‘trickery’ in this title before Bill Shorten used it in his Budget Reply speech. I could say he stole it from me but I suspect he thought of it himself. It is such an appropriate word for this budget.

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Sunday, May 24, 2015 - 17:58 Source

Earlier in the week, we put a call out for subscribers. We’re doing it again, but this time with more gusto!

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Sunday, May 24, 2015 - 17:22 Source

Sydney Harbour's most important development in decades bears little resemblance to what was initially approved, writes Alex Greenwich.

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Sunday, May 24, 2015 - 16:49 Source

The Asia Pacific region's response to the slaughter of a vulnerable minority should ring a bells, writes Hadi Zaher.

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Sunday, May 24, 2015 - 16:20 Source

Australia's ever-shrinking foreign aid budget will make preparedness for disaster in poorer nations even more difficult, writes Evan Davies.

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The Australian Independent Media Network Sunday, May 24, 2015 - 16:17 Source

A illustrated short story about life and death and beyond by, AIMN reader Bob Rafto.

It was like a eureka moment as the picture below came to its conclusion with a number of titles to choose from. From the cradle to the grave was the first title to spring to mind, followed by the Twilight Zone and a Couple of Lost Souls and From Black Hole to Black Hole and I chose the latter and the 2nd pic following is titled the Big Bang.

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Sunday, May 24, 2015 - 15:55 Source

The Commonwealth is trying to pass off its responsibilities for protection of the environment to the states.

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Sunday, May 24, 2015 - 13:19 Source

                This week’s Health Wrap is compiled by my colleague Megan Howe, the Sax Institute’s Publications Manager. Enjoy the Wrap and tweet us via @medicalmedia or @meghowe68 if you have any ideas...

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The Australian Independent Media Network Sunday, May 24, 2015 - 10:42 Source

When I first started reading Richard H. Thaler’s “Misbehaving – The Making of Behavioual Economics”, I couldn’t help but think of my ex-wife.

Now, I realise tales of one’s ex are always problematic. As Christine Keeler so eloquently said all those years ago, “Well, he would say that, wouldn’t he?” However, I’m going to step right in and risk it.

My ex-wife had a credit card with a limit of $2000, which used to hover somewhere between $1700 and $1950. When I suggested taking out a personal loan and paying it off, she rejected the idea on the grounds that she didn’t like borrowing money.

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The Australian Independent Media Network Sunday, May 24, 2015 - 10:32 Source

On 16 January 1973 Australian Francis James emerged from three years’ imprisonment in Canton (now Guangzhou) with just a brief announcement from China to herald his expulsion to the border and into the waiting arms of Hong Kong and Australian officials.

He collapsed at the Hong Kong border into the arms of John Slimming, Government Information Services director, and an Australian consulate official and was taken straight to the Matilda Hospital, a fair wreck of a man, according to my father the Big Baxter.

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Digitopoly Sunday, May 24, 2015 - 03:53 Source

imageYes and no.

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Sunday, May 24, 2015 - 03:02 Source

Miranda Devine, a Liberal voter, said that though Pell was wrong to walk alongside him to his trial he did not know, and never knew, that his roommate Ridsdale had raped eighty boys while they were living together for ten years in their home town, Ballarat. He was ‘not curious’, she said, to ‘find out why he was so often out after sunset and why his underpants were bloodstained most nights when he came home looking furtive, and it was ‘evil’ of the ‘latte-sipping atheist elitists of Surry Hills’, she said, to suggest he should have been.

Read more Views: 365
The Australian Independent Media Network Saturday, May 23, 2015 - 22:04 Source

By Keith Davis.

“Hi Humans. Lately you may have noticed that I have accelerated the melt rate of my Antarctic Glaciers. Lately you may have noticed that I have been experimenting in my lab with the creation of even bigger and better super storms. Lately you may have noticed that I have been expanding my deserts at an ever increasing rate.

Read more Views: 528
WixxyLeaks Saturday, May 23, 2015 - 14:39 Source

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Nobody wishes to see a dead cat I’m sure, but it is safe to assume that Tony Abbott was one happy camper to see the dead cat bounce in one of the recent opinion polls.

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The Australian Independent Media Network Saturday, May 23, 2015 - 12:52 Source

By Jennifer Wilson.

A sense of entitlement is listed as one of the symptoms of Narcissistic Personality Disorder, which seems so obvious you probably don’t need to go to the DSM-5 or the Mayo Clinic webpage to find that out.

Read more Views: 698
Saturday, May 23, 2015 - 11:28 Source

Tomalin, Grenville, Watson, Korval and Cassidy were very, very good in the sessions I went to on Thursday and Friday, and they should be experienced in ABC replay if you know the technology.

The Town Hall dialogue of Richard Flanagan was extraordinary, despite the apparent early drunkenness of the gushing interlocutor.

The best for me so far was Michael Frayn with Tom Wright, an interviewer (and fellow playwright) of acuity and penetration, a small classic of informed conversation on the variant meanings of theatre not likely to be equalled in our lifetime.

Read more Views: 290
Saturday, May 23, 2015 - 08:14 Source

(First published by Independent Australia)

Tony Abbott is in a perfect storm of bad confluent events that may, in the next few weeks, do for him.

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The Australian Independent Media Network Saturday, May 23, 2015 - 06:39 Source

Saturday 16 May

1. Every time, when talking about superannuation, Joe Hockey says “it’s their money” I am infuriated. The 15% tax discount given to high income earners is funded by the taxpayer.

2. “Those who benefit most from taxpayer-funded education are companies who demand the highest standards. Why are they not made to pay an education levy?”

Read more Views: 515

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