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Renew Economy Wednesday, February 13, 2019 - 15:17 Source

Redflow ZBM2 zinc-bromine flow batteries are now storing solar energy to provide a reliable power supply for a remote village in mountainous northern Thailand that has long lacked electricity.

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MacroBusiness Wednesday, February 13, 2019 - 14:32 Source

It just gets more and more weird with each passing minute, via The Australian: The Young Liberals have launched a revolt against their senior Canberra counterparts, savaging the federal government’s “big stick” intervention in the electricity sector and calling for the resurrection of the national energy guarantee. The Young Liberals, who claim to be the

The post Young Libs demand return of Malcolm Turnbull appeared first on MacroBusiness.

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MacroBusiness Wednesday, February 13, 2019 - 13:45 Source

Via Martin North: In short, no, although I never argue that owner occupiers try to time the market. It causes too much agonising.

The post Should I buy property now? appeared first on MacroBusiness.

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Renew Economy Wednesday, February 13, 2019 - 13:41 Source

Downer becomes latest contractor to confirm losses from building solar farms, as insiders point to major issues about connection agreements and processes.

The post Downer takes hit on solar project, points to connection risk appeared first on RenewEconomy.

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MacroBusiness Wednesday, February 13, 2019 - 13:15 Source

By Leith van Onselen NSW Labor Leader, Michael Daley, has launched another hypocritical attack over the rampant over-development across Sydney: Opposition leader Michael Daley on Tuesday seized on growing concerns about overdevelopment and said a Labor government would stop developers from bypassing councils… “That is not how you plan a growing city. I don’t want a

The post Labor’s Daley jams immigration magic pudding down Sydney’s throat appeared first on MacroBusiness.

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MacroBusiness Wednesday, February 13, 2019 - 13:00 Source

By Leith van Onselen The property downturn appears to be spreading into New Zealand, with the latest valuation data from Quotable Value revealing that average residential property values in Auckland were almost 1% lower year-on-year in January, whereas the rate of price growth has also declined sharply across the rest of New Zealand: The latest RBNZ Survey

The post Is Australia’s housing bust spreading to New Zealand? appeared first on MacroBusiness.

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MacroBusiness Wednesday, February 13, 2019 - 12:30 Source

By Leith van Onselen The Australian Institute’s chief economist, Richard Denniss, has questioned the obsession with cutting taxes, especially for the wealthy, claiming it fails economics 101. From The Guardian: Bill Shorten’s ALP are promising to close tax loopholes, collect tens of billions of dollars in additional revenue and spend tens of billions of dollars

The post The case for cutting taxes fails ‘economics 101’ appeared first on MacroBusiness.

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Renew Economy Wednesday, February 13, 2019 - 12:29 Source

The 100MW Kathu solar park, with five hours of storage, joins a South African plagued by blackouts and the failure of newly added and expensive coal units.

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MacroBusiness Wednesday, February 13, 2019 - 12:26 Source

Why wait until there’s a crisis when you can just make one up! Via the AFR: The Morrison government has beefed up its border protection measures and will reopen the Christmas Island detention centre in anticipation of what it claims will be a resumption of the people smuggling trade. Prime Minister Scott Morrison made the

The post Emergency! Scummo reopens empty Christmas Island appeared first on MacroBusiness.

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MacroBusiness Wednesday, February 13, 2019 - 12:19 Source

The Australian dollar has popped a little this morning after news that the housing bust is over with consumer sentiment just fine: Bonds are getting hosed: Stocks missed the memo: Dalian is weak at the open: Big Iron powers on, especially poor quality dirt: I wonder when the blood-sucking gas cartel will price Labor? Big

The post Australian dollar jumps as housing bust over! appeared first on MacroBusiness.

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MacroBusiness Wednesday, February 13, 2019 - 12:00 Source

Via AOG: What, not the weather’s fault?  

The post Property crash lands on retirement homes appeared first on MacroBusiness.

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Renew Economy Wednesday, February 13, 2019 - 11:54 Source

Race Bank Offshore Wind Farm, 27km off the coast of Norfolk, United KingdomThe UK’s 1.2 GW Hornsea Project One offshore wind farm could step in to fill the gap left open by the country’s failing nuclear industry.

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MacroBusiness Wednesday, February 13, 2019 - 11:45 Source

For the RBA comes a profile of its absurd self:

The post Mark Blythe on stupid economic ideas (for the RBA) appeared first on MacroBusiness.

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MacroBusiness Wednesday, February 13, 2019 - 11:30 Source

Via Westpac: Sentiment has recovered after a shaky start to the year. The previous survey in January had shown a sharp pull back, the Index dipping into pessimistic territory for the first time since late 2017. The February lift takes the Index back into ‘cautiously optimistic’ territory. While that may indicate some of last month’s

The post Rate cut talk lifts consumer sentiment appeared first on MacroBusiness.

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MacroBusiness Wednesday, February 13, 2019 - 11:15 Source

Yesterday’s NAB survey rebound was enough to trigger an Australian dollar rally but it’s not clear why, via Westpac: The massive services sector is in free fall: Capex hit news lows. Jobs were better: The industry view was OK but we know weakness is coming in construction. And the state view was sick as the

The post Another look at the NAB survey’s dubious rebound appeared first on MacroBusiness.

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xkcd.com Wednesday, February 13, 2019 - 11:00 Source

Thanks for bringing us along.

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MacroBusiness Wednesday, February 13, 2019 - 10:56 Source

From SBS News: Bankers found guilty of serious corporate crimes could be jailed for up to 15 years and shonky corporations may face fines of up to $525 million, under legislation proposed by Labor. In the wake of the damning banking royal commission, the federal party wants to significantly increase penalties against financial institutions who

The post Labor pushes for massive banker penalties appeared first on MacroBusiness.

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MacroBusiness Wednesday, February 13, 2019 - 10:45 Source

By Leith van Onselen CoreLogic has released its December Quarter Economic Review, which contains some interesting titbits on the housing market. A highlight is the below chart showing that apartments under construction are hovering at record high levels, which has raised settlement risk: At the end of the September 2018 quarter there 227,186 dwellings under

The post CoreLogic: Record apartment construction slamming rents appeared first on MacroBusiness.

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MacroBusiness Wednesday, February 13, 2019 - 10:39 Source

Stock markets continued to rally in January and the start of February to recover most of the losses from late 2018, at the same time Australian government bonds have begun to price a slowing Australian economy which led to a strong performance from all of our portfolios. International +4.3%, Tactical Growth +3.4% and Tactical Foundation +2.2%

The post MB Fund Performance: January 2019 appeared first on MacroBusiness.

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MacroBusiness Wednesday, February 13, 2019 - 10:30 Source

Well…of course it does. It doesn’t have any branches to distribute its mortgages, via The Australian: Macquarie chief Shemara Wikramanayake has backed the role mortgage brokers play for borrowers, acknowledging that the Hayne royal commission would prompt smaller banks to rethink distribution and more closely ­assess what customers would pay for loans. Commissioner Kenneth Hayne’s

The post Mad Macquarie backs mortgage brokers appeared first on MacroBusiness.

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MacroBusiness Wednesday, February 13, 2019 - 10:16 Source

Bank of England chief Mark Carney has some bad news for Australia, warning that: “(China) are not going to bail us out this time, I absolutely agree,” Carney said when asked about the ability of the world’s second-biggest economy to compensate for a slowdown in richer nations. But the most likely outcome was that the

The post BOE: China is “not going to bail us out this time” appeared first on MacroBusiness.

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MacroBusiness Wednesday, February 13, 2019 - 10:00 Source

Via AFR: Colourful Melbourne property speculator and local councillor Intaj Khan has put a portfolio of four housing sites in the city’s west on the market with expectations they could sell for almost $60 million. Cr Khan, who was found guilty of eight breaches of his duties as a Wyndham City councillor last year and

The post Melbourne west land mogul pulls plug appeared first on MacroBusiness.

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MacroBusiness Wednesday, February 13, 2019 - 09:45 Source

Missed this earlier in the week. Ross Gittins is helping lift Australian economic discourse for once: [A rate cut] isn’t [imminent]. It isn’t because, as he made plain in a speech on Wednesday – and reiterated in the statement on monetary policy on Friday – he remains confident the economy has slowed a bit, but no worse. His revised

The post Gittins drags RBA towards depression economics rate cut (or vice versa) appeared first on MacroBusiness.

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The Australian Independent Media Network Wednesday, February 13, 2019 - 09:37 Source

It’s one thing for the Coalition to blame Labor and the Greens for everything – that’s just politics, as ProMo would say – but it’s quite another to claim credit for things you were dragged to, kicking and screaming and resisting all the way, by the persistent and growing voice of the people. Tony Abbott…

The post Claiming credit appeared first on The AIM Network.

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Renew Economy Wednesday, February 13, 2019 - 09:33 Source

NetworkProposal for new transmission link from South Australia to NSW signals decline of coal and gas and replacement by cheaper wind, solar and storage.

The post Networks unveil new plan that signals rapid decline of coal and gas appeared first on RenewEconomy.

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The Australian Independent Media Network Wednesday, February 13, 2019 - 09:30 Source

By Dr Strobe Driver   Korea has a strong and unique history as it is ‘arguably the most ethnically homogenous country in the world with thirteen centuries of political unity and national and provincial boundaries older than almost any other state.’[1] Unification of the country had been in place since 668 (Common Era) during the Three Kingdoms…

The post A Unified Korea: Good for All (Except Japan) appeared first on The AIM Network.

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MacroBusiness Wednesday, February 13, 2019 - 09:30 Source

By Leith van Onselen I have noted previously how China’s economy is facing stiff headwinds from an ageing population (see here, here, here, and here). Essentially, China’s ageing problem stems from its ‘one child policy’, which was brought into effect in the early-1970s and is credited with preventing around 400 million births from 1979 to

The post Why China will ‘grow old’ before it ‘gets rich’ appeared first on MacroBusiness.

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MacroBusiness Wednesday, February 13, 2019 - 09:15 Source

Get ready for an avalanche of this fake news, via the AFR: Property investors are chasing falling prices, bargain-basement fixed rates, rising rental yields and bigger discounts as they rush to beat a Labor government’s negative gearing changes, agents and analysts said. Anecdotal accounts from real estate agents, representing sellers, and brokers’ agents, representing buyers,

The post Fake news: Property investors charging back into market appeared first on MacroBusiness.

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MacroBusiness Wednesday, February 13, 2019 - 09:06 Source

It shouldn’t because he’s talking nonsense. Via Bluenotes: The fall in Australian house prices in 2018 was the largest since the financial crisis. But the implications for the broader economy are more important. It’s even possible that weaker house prices and a weaker economy combine into a negative feedback loop (although in my view this is unlikely). “All previous periods of declining

The post I hope ANZ doesn’t believe its own economist appeared first on MacroBusiness.

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MacroBusiness Wednesday, February 13, 2019 - 09:00 Source

Iron ore prices for February 12, 2019: Spot is tumbling. Paper fell further overnight. The panic is ebbing. Clyde Russell has a nice little piece on where we’re headed: Firstly, Chinese steel mills can substitute higher-quality iron ore with lower grades, which are likely to be more readily available, but this will result in lower

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

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