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MacroBusiness Wednesday, August 16, 2017 - 11:08 Source

Thanks to McGrathmaggeddon we know exactly what to look for in over-inflated and poorly timed exit strategy IPO. Fairfax today announced something a little similar. It’s full year result was ordinary with falling revenue but costs falling eve faster to deliver a rebounding net profit after big losses the year before: Needless to say, shrinking

The post Fairfax readies Domainmaggeddon appeared first on MacroBusiness.

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The Australian Independent Media Network Wednesday, August 16, 2017 - 10:25 Source

The Barnaby Joyce Constitutional Crisis Or Is any-one up for a class action against Barnaby? By Michael Griffin Contrary to what the MSM is leading many to believe, there is no need for a by election if Barnaby Joyce is found to be a disqualified person pursuant to s 44 the Constitution. Sections 360 (v)…

The post The Barnaby Joyce Constitutional Crisis appeared first on The AIM Network.

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The Tally Room Wednesday, August 16, 2017 - 10:00 Source

The 2015 Queensland election was very close, with neither party winning a majority of seats. Labor is estimated to hold 48 seats, while the LNP holds 42 seats. There are two Katter’s Australian Party seat, and one independent seat. 47 seats are needed for a majority.

Recent polling has been very close, with both Labor and LNP winning polls. This suggests that either side has the potential to gain seats, and lose other seats. In addition there are numerous seats where other parties could be a factor: independents, the Greens, One Nation and Katter’s Australian Party.

Labor-LNP marginals

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xkcd.com Wednesday, August 16, 2017 - 10:00 Source

I was thinking of observing stars to verify Einstein's theory of relativity again, but I gotta say, that thing is looking pretty solid at this point.

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MacroBusiness Wednesday, August 16, 2017 - 09:53 Source

By Leith van Onselen The Coalition’s staunch defence of negative gearing is looking sillier by the day, with a new survey of 13,000 people by the think tank The Australian Institute for Progress revealing that most people believe that negative gearing reform holds the key to housing affordability. From The AFR: Of all respondents 24

The post Property lobby has lost the argument on negative gearing appeared first on MacroBusiness.

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The Melbourne Urbanist Wednesday, August 16, 2017 - 09:46 Source

We make a vanishingly small percentage of short trips by public transport and it’s mostly because we prefer the alternatives for this sort of travel. Transit’s strengths lie elsewhere Can public transport define the 20-minute city?

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MacroBusiness Wednesday, August 16, 2017 - 09:38 Source

I am not very interested in Dominoes as a business per se. But I am interested in it as an exemplar of the wage…ahem…massaging business models that have taken hold in Australia’s service sectors. Adele Ferguson is clear today: Since it listed on the ASX in 2005 at $2.20, Domino’s shares surged more than 2500

The post The Dominoes warning appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 16, 2017 - 09:25 Source

By Chris Becker   The USD led the charge overnight as advanced retail sales surprised to the upside, sending bond yields higher on even firmer expectations of another rate hike from the Federal Reserve before the year is out. Stocks were relatively flat in the US as a result, while European bourses advanced on good

The post Macro Morning appeared first on MacroBusiness.

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Your Democracy Wednesday, August 16, 2017 - 08:44 Source

sins

Many priests are presently defending the sanctity and secrecy of confession. And this is fair enough. But there is a difference: many sins are not even catalogued as crimes in the penal code. Take the deadly sin of "gluttony" for example. It even does not rate a mention at a Jenny Craig Clinic.

 

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MacroBusiness Wednesday, August 16, 2017 - 08:24 Source

By Leith van Onselen As expected, several “experts’ have lashed Dick Smith’s call to cut immigration, arguing that it would trash the economy. From The Australian: Economists and senior business figures have disputed Dick Smith’s claims that immigration is fuelling inequality and questioned his Grim Reaper campaign to save the nation from its “addiction to

The post Will Dick Smith’s Fair Go “stuff the whole economy”? appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 16, 2017 - 07:49 Source

DXY poured it on last night: Whether that is a double bottom I know not but the post-2014 support level has held. AUD was weak against USD and EUR: But strong against other EMs: Gold got hosed: Brent held: Base metals were mixed: Big miners weak: EM stocks held on: EM high yield looks to

The post Australian dollar hosed as US growth rebounds appeared first on MacroBusiness.

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En Passant Wednesday, August 16, 2017 - 07:21 Source

The breath of tomorrow is yours

 

I stand with the illusionists

And those who have illusions

Well, those card men and women

Who trick us to waste two dollars

To survive

Not two billion to thrive

 

And the illusioned?

What do we say to them?

That two dollar card games are tricks?

They know this reality

Then how do we explain

That the two billion is the real game?

 

History’s ways wend

Like a river of slow bends

Toxic, full of waste

Upstream, the fresh water floods

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MacroBusiness Wednesday, August 16, 2017 - 06:33 Source

Desperation has seized both the Government and Paul Kelly: Malcolm Turnbull is a prime minister prepared to “do and say anything to try to cling to power” — this is the lethal hyperbole from Labor’s Tony Burke in his assault on the government over the Barnaby Joyce crisis, his purpose being to destroy the Prime

The post Turnbull hangs himself from Baaaaanabygate appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 16, 2017 - 06:02 Source

Oh dear, via Chanticleer: One of the ugly sleeper issues buried in the 580-page statement of claim issued by financial intelligence agency AUSTRAC against the Commonwealth Bank of Australia is the accusation the bank failed to report its suspicions that a customer had links to terrorism financing. Under the law any suspicion of terrorism financing must be

The post ConBank becomes TerrorBank appeared first on MacroBusiness.

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The Australian Independent Media Network Wednesday, August 16, 2017 - 06:00 Source

Wednesday 16 August 2017 When the headlines are screaming words of condemnation over citizenship and marriage equality one is apt to put aside other issues. One such topic is the treatment of asylum seekers and the secrecy that has surrounded their treatment. At this time last year I wrote the following (below). It concerns the…

The post Day to Day Politics: The politics of dirty Dutton. appeared first on The AIM Network.

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Inside Story Wednesday, August 16, 2017 - 01:16 Source

Nowra showground is a ten-minute walk from the centre of town: past Best & Less, Jolly Olly’s Discount Variety Store, the Postman’s Tavern and the Bowling Club, along a wide, tree-lined residential street. The gateway is a towering, seven-metre-high sandstone structure with four entrance archways, topped by parapets and crenellated towers, built just after the second world war. A life-sized bronze statue of a soldier, added after the war, stands in front of the gate. He’s depicted without rifle or helmet; as local historical material explains, “His country’s freedom secured, but forever on alert to safeguard the future.”

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MacroBusiness Wednesday, August 16, 2017 - 00:28 Source

Investing can be a volatile ride, the last few days have reminded us. The last few days have also reminded us why holding international equities is often beneficial for Australian investors – the Australian dollar acts as a shock absorber on returns when volatility hits, which is exactly the opposite effect that international investors get investing

The post International shares are less volatile than Australian appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 16, 2017 - 00:20 Source

By Leith van Onselen Yesterday, Melbourne Planning Minister, Richard Wynne, was all over the media trumpeting a new suburb in Melbourne named Mount Atkinson that would supposedly ease Melbourne’s housing affordability crisis. From Domain [my emphasis]: Construction of a new suburb in Melbourne’s west will begin before the end of the year, with plans to

The post New Melbourne suburb to absorb 2 months population growth appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 16, 2017 - 00:19 Source

By Leith van Onselen SQM Research has released its rental vacancy series for July, which revealed a 0.1% fall in the national vacancy rate over the month and a 0.2% decline over the year: As shown above, rental vacancies fell or were flat rose across all capitals in July. Over the year, decreases in vacancies

The post Louis Christopher backs immigration cuts as Saul Eslake loses his head appeared first on MacroBusiness.

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North Coast Voices Wednesday, August 16, 2017 - 00:16 Source

COMMONWEALTH OF AUSTRALIA CONSTITUTION ACT - SECT 44Disqualification                   Any person who:                      (i)  is under any acknowledgment of allegiance, obedience, or adherence to a foreign power, or is a subject or a citizen or entitled to the rights or privileges of a subject or a citizen of a foreign power; or                     (ii)  is attainted of treason, or has been convicted and is under sentence, or subject to be sentenced, for any offence punishable under

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MacroBusiness Wednesday, August 16, 2017 - 00:15 Source

By Leith van Onselen With the release on Friday of the ABS’ housing finance data for June, it is an opportune time to once again plot CoreLogic’s dwelling price series against the total value of finance commitments (excluding refinancings) as measured by the ABS. Note: the ABS’ housing finance data is current to June 2017,

The post Do foreign buyers explain the disconnect between house prices and finance? appeared first on MacroBusiness.

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North Coast Voices Wednesday, August 16, 2017 - 00:15 Source

Well here we are.

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MacroBusiness Wednesday, August 16, 2017 - 00:05 Source

Iron ore price charts for August 15, 2017: Tianjin benchmark dropped $2 to $72.30. Paper lifted a little overnight. What coking coal is doing at $200 I have no idea. It has no Chinese policy support and supply is gushing all over. I still see the top here. So does Capital Economics: • The price

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

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MacroBusiness Wednesday, August 16, 2017 - 00:04 Source

China’s July credit numbers were out and show ongoing strength with Total Social Financing at $1.22tr yuan and bank lending only 826bn of that: Shadow banking rebounded after a few months of downtrend: Year on year financing jumped after a weak July 2016: The rolling annual continues to lift: But M2 to fall: A mixed

The post Chinese credit booms on (or does it?) appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 16, 2017 - 00:01 Source

Global Macro / Markets / Investing: Mobility and growth in top and bottom incomes – VOX Goldman Tops Banks Betting on a New Type of Hedging – Bloomberg Some Thoughts on Public Memory – Talking Points Memo Bitcoin Price Tops $4,400 As Crypto Market Nears $150 Billion – Coin Desk Shadow Fed is Glum on

The post Links 16 August 2017 appeared first on MacroBusiness.

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The Australian Independent Media Network Tuesday, August 15, 2017 - 23:55 Source

There is nothing more excruciatingly embarrassing than watching One Nation give a press conference. Out came Pauline, flanked by Malcolm and Brian, to gleefully shove it up the arse of the ABC. How dare they ask questions about her plane, sorry James’ plane, or is it Bill’s plane.  How dare they question Malcolm’s citizenship.  How…

The post One Nation can only dream about an approval rating like the ABC’s appeared first on The AIM Network.

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Political Owl Tuesday, August 15, 2017 - 22:46 Source

File 20170815 18355 1qoxyfx Barnaby Joyce has now renounced his New Zealand citizenship but his future is yet to be determined. Mick Tsikas/AAP Michelle Grattan, University of CanberraLet’s get one point straight. The crisis around Barnaby Joyce has been caused by one simple oversight by one person.

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Your Democracy Tuesday, August 15, 2017 - 19:57 Source

 

abc in trouble...

One Nation leader Pauline Hanson has announced "conditional support" for the Federal Government's shake-up of media ownership and regulation.

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The Australian Independent Media Network Tuesday, August 15, 2017 - 19:44 Source

“You know, when you nominate for Parliament, there is actually a question, you’ve got to address that section 44 question.” (Australian Deputy Prime Minister, Barnaby Joyce). It is proving to be a toxic gift that continues to give with increasing regularity. The latest potential victim of section 44 of the Australian Constitution, one barring a…

The post A Plague on Parliament: Australia’s Citizenship Crisis appeared first on The AIM Network.

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The Australian Independent Media Network Tuesday, August 15, 2017 - 19:18 Source

Reflecting back on the Coalition’s six years in Opposition, it’s no wonder they are in such trouble now. Instead of developing policy, think about what they spent their time doing. They pursued Peter Slipper and Craig Thomson mercilessly in an effort to bring down a minority government. They spent years trying to pin some wrongdoing…

The post The Coalition have had ten years to come up with a policy that works appeared first on The AIM Network.

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