Blogotariat

Oz Blog News Commentary
MacroBusiness Wednesday, June 10, 2015 - 12:07 Source

From Fairfax: Unions are meeting with BlueScope this morning after it was revealed the Port Kembla Steelworks may close if major cost savings aren’t achieved. Up to 1000 jobs are directly at risk, the Illawarra Mercury reported. AWU branch secretary Wayne Phillips said the company had given direction to workers to find savings of $50

The post Port Kembla mulls closure appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Read more Views: 400
Renew Economy Wednesday, June 10, 2015 - 11:41 Source

Gamesa, Spain’s biggest wind-turbine manufacturer plans to invest more than $25.7m to expand production capacity in Brazil.

Read more Views: 389
Renew Economy Wednesday, June 10, 2015 - 11:39 Source

Have three of the world’s biggest coal exporters just blown US$1.3 billion on a stranded coal asset?

Read more Views: 316
MacroBusiness Wednesday, June 10, 2015 - 11:36 Source

By Leith van Onselen The Actuaries Institute has called for urgent and sensible reform of the superannuation and retirement incomes system, recommending the following in its response to the government’s tax discussion paper: introducing a lifetime cap of around $2.5 million on superannuation savings which can be transitioned into a superannuation income stream which pays

The post Actuaries, industry funds, call for super reform appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Read more Views: 307
MacroBusiness Wednesday, June 10, 2015 - 10:54 Source

From Matthew Hassan at Westpac: • The Westpac–Melbourne Institute Index of Consumer Sentiment fell 6.9% in June from 102.4 in May to 95.3 in June. This is a surprisingly weak result. It now appears that last month’s surge of optimism was a brief ‘relief rally’ following the RBA’s May rate cut and a Budget that

The post Consumer sentiment tanks to new low appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Read more Views: 368
MacroBusiness Wednesday, June 10, 2015 - 10:27 Source

From Fergus Green and Nicholas Stern: China has grown rapidly – often at double-digit rates – for more than three decades by following a strategy of high investment, strong export orientation and energy-intensive manufacturing. While this growth lifted hundreds of millions out of poverty, it also heightened problems of inequality – personal, regional and urban-rural

The post China carbon emissions peak in sight appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Read more Views: 326
MacroBusiness Wednesday, June 10, 2015 - 10:16 Source

By Leith van Onselen The ANZ-Roy Morgan Research consumer confidence index continues to retrace its post-Budget bounce, falling a further 1.4 points to 112.1 in the week ended 7 June, to be tracking below the long-run average of 112.7 (see next chart). Commenting on the result, ANZ chief economist, Warren Hogan, noted that confidence is

The post Consumer confidence fades to grey appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Read more Views: 385
MacroBusiness Wednesday, June 10, 2015 - 10:04 Source

From bubble nay-sayer, Bloxo comes more Bozo Joe bashing: Nation-wide housing prices are up 24% over the past three years, but these gains have been uneven across the country  Sydney housing prices have risen 39%, Melbourne by 22% and prices in the rest of the country are only up 10%  We have few concerns about

The post Even Bloxo says its a bubble appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Read more Views: 309
xkcd.com Wednesday, June 10, 2015 - 10:00 Source

I have never seen a work of fiction so perfectly capture the out-of-nowhere shock of discovering that you've just bricked something important because you didn't pay enough attention to a loose wire.

Read more Views: 581
MacroBusiness Wednesday, June 10, 2015 - 09:54 Source

From Citi: The recent speech from APRA Chairman, Wayne Byers has provided the best indication yet that the much anticipated changes to IRB mortgage risk weights for Australian major banks are imminent. With NAB recently deciding to undertake a large capital raising, partly in anticipation for these risk weights changes, investors are questioning whether the

The post Citi: APRA set to tighten mortgage risk weights appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Read more Views: 338
MacroBusiness Wednesday, June 10, 2015 - 09:34 Source

By Leith van Onselen Labor’s Finance Spokesman, Tony Burke, appeared on ABC Radio a short time ago to discuss Treasurer Joe Hockey’s comments on housing affordability and outline Labor’s policy: “We’ve simply said we need to have a discussion on the issue of housing affordability… We have a discussion paper that submissions have closed on

The post Labor responds with housing demand and supply discussion appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Read more Views: 312
MacroBusiness Wednesday, June 10, 2015 - 09:26 Source

By Chris Becker The Greek debt impasse remains stuck as the writing is on the wall for US stocks to continue their slide out of a secular bull market and into – at best – a sideways dance in the Northern Hemisphere summer as almost all are betting the Fed will raise rates in a

The post Macro Morning (bear market) appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Read more Views: 369
MacroBusiness Wednesday, June 10, 2015 - 08:54 Source

Fresh from the ABC: Mr Hockey was on the defensive today. “Let’s not play the man, let’s actually deal with the policy,” he told the ABC’s AM program. “Housing is very expensive and I understand that. Look, I totally understand that. “When you’re committing so much of your wage to your mortgage, it’s a big

The post Hockey pops own bubble, repeats NG lies appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Read more Views: 340
MacroBusiness Wednesday, June 10, 2015 - 08:49 Source

By Leith van Onselen More Liberal Party bubble supporters are on the hustings today: Federal Liberal MP Craig Laundy has backed Treasurer Joe Hockey, saying he believes Sydney’s housing market is pricey but affordable. Mr Hockey’s political opponents have labelled him “out of touch” after he dismissed suggestions that Sydney property was unaffordable and advised

The post Forget Hockey, it’s Howard’s bubble appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Read more Views: 329
MacroBusiness Wednesday, June 10, 2015 - 05:27 Source

At various times and in various venues I have watched on as different social interest groups have laid claim to the contemporary high moral ground of Australian victimhood. At a dinner party I once attended, a Jewish gentleman held forth that the defining identity conflict in Australian history was anti-semitism despite it being marginal at best.

The post Tony and Joe’s suicide by housing appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Read more Views: 470
MacroBusiness Wednesday, June 10, 2015 - 05:26 Source

From the soon to retirement Robert Gottliebsen at Dad’s Army: So what would happen in Australia if there were a 20 per cent fall in dwelling prices, led by Sydney and Melbourne? …When this has happened previously (e.g. Melbourne in the early 1990s), it slashed consumer confidence and retail sales and boosted unemployment…One of the hardest hit

The post Triguboffonomic panic 4.0 appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Read more Views: 331
Wednesday, June 10, 2015 - 04:56 Source

Sarah Ferguson’s The Killing Season is perfect so far: swift, lucid, fair, stirring, suspenseful, with Combet saying ‘fuck’ and cursing Rudd with justice, and exactly what Abbott and Hockey did not want to see. It shows Rudd/Swan/Gillard /Tanner triumphing over the world economic crisis, saving three hundred thousand jobs and keeping Australia, unlike other country, out of recession, and Ken Henry saying how much smarter they were than him.

Read more Views: 233
MacroBusiness Wednesday, June 10, 2015 - 04:39 Source

By Leith van Onselen If you get a spare 12 minutes today, make sure you watch the above excellent interview from ABC’s The Business with former Morgan Stanley chief economist, Gerard Minack, outlining Australia’s recession risks. Like MB, Minack does not believe a recession is likely this year, but believes the risk of recession is

The post Gerard Minack outlines Oz recession risk appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Read more Views: 394
MacroBusiness Wednesday, June 10, 2015 - 04:35 Source

By Leith van Onselen Yesterday’s housing finance data for April registered a much needed rebound in buyer demand for newly constructed dwellings following a period of weakness, with the number of commitments for construction and new dwellings rising a combined 3.5% in April and by 1.4% over the year (see next chart). The boom in

The post Is the dwelling construction cycle peaking? appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Read more Views: 336
George Monbiot Wednesday, June 10, 2015 - 03:30 Source

Surrender your freedom, avoid daylight, live to work, and you too could join a toxic, paranoid elite.

By George Monbiot, published in the Guardian 10th June 2015

Perhaps because the alternative is hideous to contemplate, we persuade ourselves that those who wield power know what they are doing. The belief in a guiding intelligence is hard to shake.

Read more Views: 1,250
MacroBusiness Wednesday, June 10, 2015 - 00:05 Source

The Brent oil price took off last night for no reason at all, up 3% to $64.61. The big news of the night was new EIA forecasts: Raises 2015 US crude output forecast by 2.6% to 9.43m barrels per day Lowers 2016 price forecasts for WTI and Brent by about $3.50 Raises 2015 WTI forecast to

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

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Read more Views: 358
MacroBusiness Wednesday, June 10, 2015 - 00:05 Source

Here are the iron ore charts for June 5, 2015: Little change, then. Spot is becalmed but has a very bullish looking inverted head and shoulders chart. Tianjin benchmark was up 10 cents to $63.90. Singapore is serene. Dalian is going nowhere but also has a bullish ascending triangle chart and finished up 2 points overnight.

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

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Read more Views: 314
MacroBusiness Wednesday, June 10, 2015 - 00:02 Source

This time it’s different. And cross-posted from Investing in Chinese Stocks is more. Asia Investor: Managers Divided Over MSCI A-Shares Prospects On Wednesday, June 10 at 5 AM HK time and Tuesday, June 9 at 5PM NY time, MSCI will announce whether A-shares will be added to the indexes. Financial Review: The man who holds the key to

The post Slack-jawed Chinese farmers go long stocks appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Read more Views: 261
MacroBusiness Wednesday, June 10, 2015 - 00:01 Source

Global Macro / Markets / Investing: The Alleged Flash-Trading Mastermind Lived With His Parents and Couldn’t Drive – Bloomberg Bond-Market Volatility Triggers Alarms – Wall Street Journal North America: The FOMC, the Board of Governors, and Fed interest rate policy – Brookings Here come American babies … – Business Insider How cheap is Hillary Clinton’s

The post Links 10 June 2015 appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Read more Views: 323
The Australian Independent Media Network Tuesday, June 9, 2015 - 23:23 Source

In less than a week we will celebrate the 800th anniversary of the Magna Carta – a 13th century document which is widely recognised as the bedrock of our democracy.

“It was a bunch of barons saying to the king, you can’t just do what you like, there is a rule of law and we would like you to abide by it, and we want it in writing. And it is fundamental to the rule of law that we have in this country today, that is still being debated,” said Libby Stewart, senior historian at the Museum of Australian Democracy.

Read more Views: 438
The Australian Independent Media Network Tuesday, June 9, 2015 - 21:37 Source

Social media went into meltdown with the news that popular entrepreneur Dick Smith is considering standing as a candidate in Tony Abbott’s Warringah electorate at the next federal election.

The excitement, of course, was that person to person Dick Smith could in all likelihood take the seat. It’s a delicious thought and one widely shared. For many (judging by the comments on Facebook and Twitter) the news provided a glimmer of sunshine in what had been a gloomy political week.

Read more Views: 514
MacroBusiness Tuesday, June 9, 2015 - 18:23 Source

With all the twists, turns and undercurrents in the global capital markets, I think this week could hold some important clues on how the land lies and the future direction for markets. We know the Federal Reserve is data dependant, but so too are markets and it seems (in developed markets at least) that we

The post ASX at the close appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Read more Views: 263
The Australian Independent Media Network Tuesday, June 9, 2015 - 17:51 Source

“Isn’t it rich?
Are we a pair?
Me here at last on the ground,
You in mid-air.
Send in the clowns.”
Steven Sondheim 

A week or so ago, people were told that they shouldn’t be too fussy with Scott Morrison echoing Tony Abbott’s remarks of a year ago. Apparently, you shouldn’t hold out for your “dream job” and you should take anything that’s available.

Read more Views: 596
Tuesday, June 9, 2015 - 15:22 Source

The Castle's Darryl Kerrigan put it best when he said ‘People have got to stop taking other people’s land’. Hundreds of residents in the inner west of Sydney know how he feels. Wendy Bacon reports.

Read more Views: 443
Tuesday, June 9, 2015 - 15:14 Source

As in immigration and the arts, ministerial control over the health budget looks set to greatly increase. Part one of a special look at health policy, by Ben Eltham.

Read more Views: 288

Pages