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Oz Blog News Commentary
Renew Economy Thursday, August 16, 2018 - 10:08 Source

The NEG may have gone through Coalition party room, but the ESB wants to make significant changes to the nature of the reliability option - in case a coal generator fails.

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MacroBusiness Thursday, August 16, 2018 - 10:00 Source

From the Chinese media outlet, CGTN: It’s not Trump. It’s the US. The awakening of a giant to its rival.

The post US defense spending pivots to China appeared first on MacroBusiness.

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MacroBusiness Thursday, August 16, 2018 - 09:45 Source

By Leith van Onselen The REINZ has released its house price data for July, which revealed a 0.2% seasonally adjusted monthly rise in the national median house price, with prices also up 6.6% year-on-year: Outside of Auckland, seasonally adjusted house prices rose by 0.2% in July, with prices up 8.6% year-on-year. Looking at the major

The post Auckland house prices join the deflation appeared first on MacroBusiness.

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MacroBusiness Thursday, August 16, 2018 - 09:30 Source

By Leith van Onselen In its May State Budget, the WA Labor Government announced that it would follow the other states and hike stamp duties on foreign buyers of residential property to 7% from 1 January 2019 – a move that would raise $120 million for the State Budget over four years. The move was staunchly

The post Coalition blocks WA foreign home buyer surcharge appeared first on MacroBusiness.

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MacroBusiness Thursday, August 16, 2018 - 09:30 Source

On both sides. From The Australian: Federal government ministers are coming under pressure from ­colleagues to resign over the nat­ional energy guarantee in a ­counter-campaign by rebel backbenchers that risks further eroding Malcolm Turnbull’s authority as his attempts to win the support of wavering Coalition MPs ­appeared to be failing. As the Prime Minister held

The post Victoria is right to kill the NEG appeared first on MacroBusiness.

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MacroBusiness Thursday, August 16, 2018 - 09:15 Source

It’s all so bloody predictable. Via the AFR: Selling agents are starting to reveal the truth behind recent listings in Sydney’s west with Belle Property Strathfield’s Jimmy Kang saying up to 50 per cent of his clients were asking him to sell their homes in Sydney’s western suburbs because they can no longer afford their

The post Western Sydney ground zero in interest-only mortgage bust appeared first on MacroBusiness.

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MacroBusiness Thursday, August 16, 2018 - 09:00 Source

By Leith van Onselen I noted last month how Melbourne was threatening a re-run of the 1890s land bubble and bust. This came after Melbourne’s median lot price per square metre had surged a whopping 29.3% in the year to March, with the typical median Melbourne lot value surging to $359,000, and the price of

The post Foreign speculators crushed as Melbourne’s land bubble bursts appeared first on MacroBusiness.

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MacroBusiness Thursday, August 16, 2018 - 08:25 Source

By Chris Becker The rout is on with European stocks pummeled overnight, dragging US bourses down with them as trade war contagion and emerging markets enter what looks like a bear market. The USD maintained its strength, despite a small respite in Euro selling and the Turkish Lira which is very slowly recovering from its

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Thursday, August 16, 2018 - 07:41 Source

Lot’s of righteous and correct condemnation of Frazer Anning in the MSM today. His comments were pure poison and deserve the serve. Jess Irvine is out front: Anning’s policy wish list includes: abolishing 457 visas (which “simply steal jobs”); restricting family reunion visas to spouses and dependent children; “drastically reducing” student visa numbers and requiring

The post Bob Katter’s vicious ram raid on One Nation appeared first on MacroBusiness.

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MacroBusiness Thursday, August 16, 2018 - 06:59 Source

DXY was stable overnight. CNY is still falling. EUR was OK: AUD sank to new lows but rallied to unchanged against DMs: It was stronger than EMs: Gold was pounded: Oil too: Base metals capitulated: Big miners too: EM stocks were pulverised: And the leading indicator of EM junk sees more to come: Treasuries were

The post Commodities track Australian dollar into EM abyss appeared first on MacroBusiness.

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The Australian Independent Media Network Thursday, August 16, 2018 - 06:00 Source

Thursday 16 August 2018 I don’t think there is a greater societal problem in the world today than that of racism. When a person declares inwardly using self-deceit or ignorance that he or she is superior because, certain factors, such as skin colour make it so, then they are racist. When a person declares outwardly…

The post Never allow racism to disguise itself in the cloak of nationalism appeared first on The AIM Network.

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MacroBusiness Thursday, August 16, 2018 - 00:20 Source

It’s like trying draw blood from a stone. Some charts from Westpac on the wage price index: Anyone looking at that little lot and seeing ANY chance of reaching RBA and Treasury goals needs to take the red pill. We’ve chronicled many times why it’s happening: terms of trade falls which although paused are still

The post Unless something changes, wage rises are history appeared first on MacroBusiness.

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MacroBusiness Thursday, August 16, 2018 - 00:15 Source

By Leith van Onselen Yesterday’s wages price index released by the ABS revealed a softening of annual wages growth to just 2.1%: When adjusted for underlying inflation, real wages increased by a measly 0.2% in the year to June: However, there is a big disconnect between the private and public sectors. The private sector –

The post Real private sector wages stuck in the donut zone appeared first on MacroBusiness.

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MacroBusiness Thursday, August 16, 2018 - 00:15 Source

By Leith van Onselen Around this time last year, it was reported that Melbourne’s water storages could dry-up as the combination of climate change meets rapid immigration-fuelled population growth: Melbourne could begin to experience chronic water shortages within about a decade, even if the desalination plant is cranked up to its full capacity, as climate

The post Population ponzi to drive up household water bills appeared first on MacroBusiness.

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MacroBusiness Thursday, August 16, 2018 - 00:15 Source

Via Kouk: Get ready for a February budget An early budget is the likely scenario given the Federal election is set to be held in May 2019. The budget, which in modern times is usually delivered by the government on the second Tuesday in May, cannot be handed down during the election campaign which will

The post Kouk: Get set for early Budget appeared first on MacroBusiness.

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MacroBusiness Thursday, August 16, 2018 - 00:10 Source

By Leith van Onselen It seems Australia’s housing spruikers are growing tired of waiting for Brisbane’s housing boom. From Mortgage Parasite Magazine Australia: Brisbane is no longer the leading property investment choice as it used to be, according to property market research firm Propertyology. The latest market data shows that despite being the top choice

The post Spruikers tire of sagging Brisbane property appeared first on MacroBusiness.

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MacroBusiness Thursday, August 16, 2018 - 00:10 Source

By Leith van Onselen The June quarter rental data from the ABS painted a sorry picture for Australia’s army of negatively geared landlords (but an improving picture for renters). According to the ABS, rents nationally registered zero growth in the June quarter and grew by just 0.6% over the year: And when adjusted for inflation,

The post Aussie rents are being crushed appeared first on MacroBusiness.

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MacroBusiness Thursday, August 16, 2018 - 00:05 Source

Iron ore prices for August 15, 2018: Spot down. Paper caught contagion overnight. Steel is fine. At some stage in the next three months we’re going to see a goodly selloff. The question now is will that be a buying opportunity for 2019 as Chinese stimulus pours in or the beginning of the end for

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

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MacroBusiness Thursday, August 16, 2018 - 00:04 Source

With the news yesterday confirming that Chinese property markets are again off to the races: Let’s ask the trillion dollar question: how long can they keep building ghosts cities? The answer comes in two parts. The first might upset a few readers because the answer is “forever”. Or, at least as long as they want

The post How much longer can China keep building ghost cities? appeared first on MacroBusiness.

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MacroBusiness Thursday, August 16, 2018 - 00:01 Source

Global Macro / Markets / Investing: Tesla Directors Do Damage Control After Elon Musk Tweets – NY Times Goldman Sachs Had No Mandate When Musk Tweeted – Bloomberg ‘Mega-Round’ Investors Shower Start-Ups With Millions – NY Times Cryptocurrency Market Plumbs New Depths in 2018 – WSJ The biggest policy mistake of the last decade –

The post Links 16 August 2018 appeared first on MacroBusiness.

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Harrangue Man Wednesday, August 15, 2018 - 22:58 Source

I rarely take Valium but it's needs based useage which means sometimes there's a cluster of use.I had a monster chat about childhood yuck and I cried for a bit. It came two days after a scare where I'd had two afterwards. After they left the churn from the talk rizzled within and I took two again. I made a hot water bottle then went to bed, sleeping it off. It's not good sleep. It's not blissy. You just don't feel as intense and you get tired and listless. So I slept a chunk of the day away and when I woke I forced myself to go for a ride to at least have some exercise.

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En Passant Wednesday, August 15, 2018 - 21:15 Source

The proofs for my second book of poetry turned up today. I am going through them now. There is not very much to change at all. ‘Whose broken is this?’ will hopefully be available in a few months.

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The Australian Independent Media Network Wednesday, August 15, 2018 - 20:08 Source

It’s important to keep a sense of perspective here. I read somewhere today that Fraser Anning was elected with 17 votes. I’m not prepared to accept that as fact because it’s clearly wrong! No, it’s not true that Anning was elected to the Senate with less votes than even Malcolm Roberts… He wasn’t elected. He…

The post Let’s Just Remember That Bloke In The Senate Didn’t Get As Many Votes As You Have Friends appeared first on The AIM Network.

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MacroBusiness Wednesday, August 15, 2018 - 17:12 Source

The reversal in mood has been short lived with a big selloff in Chinese stocks leading the region down, with only Australian shares not joining in. Although the Turkish Lira is firming, with a positive Wall Street lead overnight and European stocks looking positive going into the open, the negative mood couldn’t be forestalled here

The post Macro Afternoon appeared first on MacroBusiness.

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The Australian Independent Media Network Wednesday, August 15, 2018 - 17:05 Source

The Economist Intelligence Unit (EIU) has gone about its annual business of releasing its World’s Most Liveable City index, the sort of flotsam that matters less to urban planners than hedge-fund managers. The previous seven time winner had been Melbourne, whose supposed ascendancy had been threatened, at points, by Vancouver and Vienna. Now, the Austrian…

The post Meaningless Titles and Liveable Cities: Melbourne loses to Vienna appeared first on The AIM Network.

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Club Troppo Wednesday, August 15, 2018 - 16:34 Source

Cross posted from the Mandarin:

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MacroBusiness Wednesday, August 15, 2018 - 15:30 Source

By Leith van Onselen If you want a textbook example of everything that is wrong with Australian politics, look no further than this, via The AFR: Big four accounting and consulting firm PwC Australia is hosting a full-day, $12,500 a head, fundraising event for the Liberal Party at its Sydney offices where guests can “nominate

The post Ministers for sale appeared first on MacroBusiness.

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Renew Economy Wednesday, August 15, 2018 - 14:27 Source

The number of interventions by the Australian Energy market Operator in South Australia jumped sharply in the second quarter – mostly because of a large number of gas-fired generators that were not available due to planned and unplanned outages. ASEMO – in its latest Quarterly Energy Dynamics report – says it had to intervene more...

The post Intervention in South Australia jumps as gas shuts down appeared first on RenewEconomy.

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Renew Economy Wednesday, August 15, 2018 - 14:19 Source

 WorkhorseMore competition emerging in the electric ute market, this time from Ohio-based auto maker Workhorse.

The post Workhorse planning all electric ute to take on Tesla appeared first on RenewEconomy.

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Renew Economy Wednesday, August 15, 2018 - 14:15 Source

It will likely be another 6 weeks before the NEG is decided, but Coalition is refusing to cede any ground on flexibility to the Labor states.

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