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MacroBusiness Tuesday, December 12, 2017 - 10:46 Source

Via the ABC: Chinese billionaire Huang Xiangmo paid $55,000 to have lunch with Bill Shorten in October 2015, documents uncovered by the ABC reveal. The revelation comes as Mr Shorten faces pressure to expel senator Sam Dastyari from the Labor Party over his links to Mr Huang, who intelligence agencies warn is closely linked to the Chinese

The post Huang Dynasty engulfs Shorten as Dastayari goes appeared first on MacroBusiness.

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MacroBusiness Tuesday, December 12, 2017 - 10:40 Source

By Leith van Onselen Last night, the following question was asked on ABC’s Q&A, which garnered the above pathetic response from Prime Minister Malcolm Turnbull: POPULATION GROWTH BILL EDGE asked:Could you explain why you are allowing approximately 200,000 people to immigrate to this country every year & are there any plans to limit this intake

The post Turnbull bald-faced lies in Q&A mass immigration defence appeared first on MacroBusiness.

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Inside Story Tuesday, December 12, 2017 - 10:23 Source

The fifty-year effort to build security and community in Southeast Asia is a political and diplomatic marvel — perhaps even a geopolitical miracle. Instead of becoming East Asia’s version of the Balkans or the Middle East, the ten nations of the Association of Southeast Asian Nations, or ASEAN, have created an extraordinarily successful set of regional institutions. Only the European Union has done a bigger building job.

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MacroBusiness Tuesday, December 12, 2017 - 10:20 Source

By Leith van Onselen Janine Dixon and Nhi Tran, economists at the Centre of Policy Studies at Victoria University, have produced research warning that low-skilled workers across Australia risk being left behind, worsening inequality and eventually dragging on the economy. From The AFR: Modelling by Dr Dixon and Ms Tran shows the real (after inflation)

The post Low-skilled crushed between automation and mass immigration appeared first on MacroBusiness.

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The Tally Room Tuesday, December 12, 2017 - 10:15 Source

Last week, I posted data showing the Nick Xenophon Team vote at the 2016 Senate election broken down by state electorate.

In the process of completing my guide to the South Australian state election, I noticed the trend in terms of which seats popped up with very high NXT votes. It appeared that numerous safe Liberal seats ranked highly in terms of NXT vote, while the safer Labor seats ranked more lowly.

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MacroBusiness Tuesday, December 12, 2017 - 10:00 Source

Via The New Daily: The Bitcoin frenzy currently gripping the world is taking an unexpected toll on the planet – in the form of a carbon footprint almost as big as New Zealand’s. And with the cryptocurrency’s astronomical growth showing no sign of slowing, this carbon footprint is likely to grow – prompting some commentators to

The post If Bitcoin succeeds, the planet dies appeared first on MacroBusiness.

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MacroBusiness Tuesday, December 12, 2017 - 09:40 Source

From Beijing Bob (Carr) today: Sooner or later Canberra is going to decide to reset its relationship with Beijing. In one year, or in five. Here are seven things that can make it possible. One, drop the stridency. Joe Hockey referred last week to China threatening what Australians “fought and died for”. Two, on foreign donations,

The post Beijing Bob offers the Chinese olive branch appeared first on MacroBusiness.

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MacroBusiness Tuesday, December 12, 2017 - 09:30 Source

By Chris Becker Another not so unusual night on Wall Street with European stocks sluggish in anticipation of the ECB meeting later in the week, US stocks put in new record highs as tech and energy stocks lifted everything. Bitcoin went crazy again as futures trading began: Recapping real markets first in Asia yesterday where

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Tuesday, December 12, 2017 - 09:20 Source

So say we: Three quarters of voters say there is a need for democratic renewal in the form of a federal anti-corruption commission and a tougher code of conduct for MPs, as part of wider reforms that would also see a rejuvenated public sector return to service delivery. However, Prime Minister Malcolm Turnbull has played down

The post Time for a Federal anti-corruption watchdog appeared first on MacroBusiness.

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En Passant Tuesday, December 12, 2017 - 09:14 Source

Songs For The Band Unformed (signed copy) - a book of poetry by John Passant

 

Looking for a Christmas present for someone interested in poetry? And a leftie? My book Songs for the Band Unformed may or may not be your answer.

 

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MacroBusiness Tuesday, December 12, 2017 - 09:00 Source

By Leith van Onselen A new report commissioned by Urban Taskforce Australia projects that detached houses with backyards will vanish in Sydney over the next 40 years, meaning future children will be forced to grow up in apartments, many in insecure rented accommodation. From The SMH: While Sydney’s apartments are most likely to be occupied

The post Sydney to transform from free range to battery city appeared first on MacroBusiness.

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MacroBusiness Tuesday, December 12, 2017 - 07:39 Source

DXY was firm last night: AUD rebounded against DMs for no obvious reason: And EMs: Gold was caned: Brent jumped on a UK pipeline shutdown: Base metals jumped on sagging Chinese credit. Say what? Big miners too: And EM stocks: Junk was soft: Treasuries were sold, curve flattened: Bunds bogged: Stocks at a new record

The post Sell any Australian dollar rally with relish appeared first on MacroBusiness.

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MacroBusiness Tuesday, December 12, 2017 - 06:22 Source

Doom looms for Black Hole Malcolm, via Newspoll: The Liberal Party’s primary vote in Bennelong has collapsed, leaving the Coalition and Labor in a ­tight race for the previously safe Liberal seat and the Turnbull government’s slim command of parliament in the hands of Cory Bernardi’s Australian Conservatives. A Newspoll, conducted exclusively for The Australian

The post Black Hole Malcolm sucks in Bennelong appeared first on MacroBusiness.

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The Australian Independent Media Network Tuesday, December 12, 2017 - 06:08 Source

Tuesday 12 December 2017 Author’s Note: This is a hypothetical piece written by an unashamed idealist. They are my own thoughts on how a revitalised Labor Party should approach the remaining time before the next election. I don’t profess to have any ownership on righteousness so what follows are just my personal views. None of…

The post Day to Day Politics: How to become a better government. appeared first on The AIM Network.

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Poll Bludger Tuesday, December 12, 2017 - 04:48 Source

Labor records an unexpectedly strong showing in a Newspoll from Bennelong, and maintains a big national lead from Essential – although the latter also records a lift in Malcolm Turnbull's personal ratings.

The post Essential Research: 54-46 to Labor; Newspoll: 50-50 in Bennelong appeared first on The Poll Bludger.

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Fraudcast News Tuesday, December 12, 2017 - 02:42 Source

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Patrick Chalmers Tuesday, December 12, 2017 - 02:31 Source

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MacroBusiness Tuesday, December 12, 2017 - 00:30 Source

Yesterday we had two extraordinary political outbursts over China: Both major parties believe the controversy over Chinese interference in Australian politics will serve them well when Bennelong’s large Chinese-Australian population votes in the weekend’s by-election. Labor candidate Kristina Keneally opened the final week of campaigning arguing voters in the suburban Sydney electorate are alarmed by

The post Is Sam Dastayari an Australian Black Swan? appeared first on MacroBusiness.

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MacroBusiness Tuesday, December 12, 2017 - 00:20 Source

By Leith van Onselen The September quarter national accounts was another sobering experience for Australian workers. According to the ABS, the real average compensation per employee fell by 0.9% in the year to September 2017 to be 3.3% lower since March 2012: In a similar vein, separate per capita wages & salaries data registered an

The post Aussie household disposable incomes continue to fall appeared first on MacroBusiness.

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North Coast Voices Tuesday, December 12, 2017 - 00:16 Source

“I've personally delivered the marriage bill to the Governor-General. Same sex marriage will be the law of the land at midnight!” [Australian Prime Minister Malcolm Turnbull, Twitter, 8 December 2017]Coffs Coast Advocate, 8 December 2017:AUSTRALIAN Prime Minister Malcolm Turnbull has hailed the passage of same-sex marriage legislation in Canberra as a "huge success" in a "day of joy"."What a day. What a day. What a day in history.

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MacroBusiness Tuesday, December 12, 2017 - 00:15 Source

By Leith van Onselen Remember this chart? It shows that Victoria’s population surged by an all-time high 149,374 people in the year to March 2017: And remember this chart showing that Melbourne’s population grew by a record 126,175 in 2016: As well as this chart showing that the lion’s share of Victoria’s (Melbourne’s) population growth

The post Population ponzi overruns maternity wards appeared first on MacroBusiness.

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North Coast Voices Tuesday, December 12, 2017 - 00:15 Source

According to AMP chief economist Shane Oliver “consumer spending is being dragged down by low wages growth, slowing wealth accumulation, poor sentiment, high debt levels and rising energy costs." In the 2017 September quarter households were spending less on clothing, footware, health, furnishings, household equipment, entertainment, dining out and alcohol - as the pressure on disposable incom

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MacroBusiness Tuesday, December 12, 2017 - 00:10 Source

By Leith van Onselen CoreLogic’s Cameron Kusher has published some interesting charts showing how the Australian Prudential Regulatory Authority’s (APRA) macro-prudential curbs on interest-only lending have been a major success, driving interest-only lending to record low levels: The total value of interest-only lending over the September 2017 quarter was $16.603 billion which was -44.8% lower

The post APRA’s interest-only curbs a stomping success appeared first on MacroBusiness.

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MacroBusiness Tuesday, December 12, 2017 - 00:05 Source

Iron ore price charts December 11, 2017: Tianjin added 60 cents to $69. No change. Volatility ahead.

The post Daily iron ore price update (no fat lady) appeared first on MacroBusiness.

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MacroBusiness Tuesday, December 12, 2017 - 00:04 Source

Chinese new yuan loans for November were out last night. The headline numbers beat expectations and markets rallied as Total Social Financing came in at 1.6tr yuan. Bank lending was 1.12tr of that: However, new lending was down year on year by -8% and the year on year three month moving average is down to

The post Chinese credit slowdown steepens appeared first on MacroBusiness.

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MacroBusiness Tuesday, December 12, 2017 - 00:01 Source

Global Macro / Markets / Investing: BlackRock Is Buying the Bonds Most at Risk From Added Fed Hikes – Bloomberg You Can Trade Bitcoin Futures. But Should You? – Bloomberg CBOE Website Crashes As Futures Trading Begins; Bitcoin Price Squeezed 10% Higher – Zero Hedge Bitcoin jumps higher as futures trading begins on CBOE; new

The post Links 12 December 2017 appeared first on MacroBusiness.

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Inside Story Monday, December 11, 2017 - 19:35 Source

Entirely predictably, the global campaign to expose alleged sexual predators in the entertainment industry has triggered a defamation action in the Australian courts. Given the mix of a Weinstein-charged media cycle, celebrity reputations, and treacherous defamation laws, it was only a matter of time. Geoffrey Rush, internationally acclaimed stage and screen actor and Oscar winner, is suing over a “world exclusive” published by Sydney’s Daily Telegraph.

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Inside Story Monday, December 11, 2017 - 17:51 Source

Geoffrey Lancaster’s new CD of Mozart piano sonatas, Mozart Keyboard Sonatas KV330–332, is by turns beguiling and infuriating, thrilling and glib. Well, perhaps glib isn’t quite the word — Lancaster may throw away certain notes and phrases, turning them into the merest of asides, but only, one suspects, after much thought.

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MacroBusiness Monday, December 11, 2017 - 17:17 Source

by Chris Becker A very positive start to the trading week with all Asian share markets up strongly, absorbing the usual weekend volatility well – excepting Bitcoin, of course. Ahead of the Federal Reserve and ECB meeting this week, the positive NFP on Friday night gave risk takers the green light to bid up all

The post Macro Afternoon appeared first on MacroBusiness.

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Inside Story Monday, December 11, 2017 - 16:26 Source

It’s early Monday morning and we’re on the road to the capital Noumea from New Caledonia’s Northern Province. The bus is full of young people heading back to school or work, after a weekend visiting their families in their home villages.

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