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The Australian Independent Media Network Thursday, December 6, 2018 - 19:46 Source

To Hope or not to Hope. George Theodoridis   For a wedding gift, Zeus gave Pandora (Allgifts, in english) an urn which contained all the ills that face humanity. Sickness and death and pain and hate and suchlike destructive things. The urn, which was made of the same clay from which Pandora was made (there’s…

The post To Hope or not to Hope. appeared first on The AIM Network.

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The Australian Independent Media Network Thursday, December 6, 2018 - 18:00 Source

By Ad astra  How well the ancient Biblical words apply to the Coalition: ”How are the mighty fallen in the midst of the battle…thou wast slain in thine high places, and the weapons of war perished!” The true-blue Liberal flag, once graced with rich shades of competence, efficiency, endeavour, diligence and success, now flies tattered, limp…

The post Five shades of faded blue appeared first on The AIM Network.

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MacroBusiness Thursday, December 6, 2018 - 17:47 Source

It’s been a straight risk-off session here in Asia as the Huawei headlines are fracturing the possibility of a trade deal between the US and China, fueling safe haven bids and dumping of stocks. US Treasury yields continue to fall while commodity currencies their downward trajectory as markets expect a dour night on Wall Street

The post Macro Afternoon appeared first on MacroBusiness.

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Renew Economy Thursday, December 6, 2018 - 15:50 Source

UNSW deal for mass-production of next generation solar cells will help cost of solar power – already the cheapest in the world – to halve again.

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MacroBusiness Thursday, December 6, 2018 - 14:38 Source

UBS’ Jonathon Mott is out with more today on the mushrooming credit crunch: The banking sector is facing a period of substantial and sustained earnings pressure which is likely to last several years. The risk of the current credit squeeze turning into a credit crunch is real and rising, with the housing market now falling

The post UBS: Credit shock building appeared first on MacroBusiness.

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John Quiggin Thursday, December 6, 2018 - 14:36 Source

Carbon dioxide emissions rose strongly last year after several years of a near plateau. It appears that the main factor was increased use of oil, mainly as motor fuel. I’ll try to do a more detailed analysis later, but the central element of the required response is obvious. Just like coal-fired power stations, petrol-driven motor cars need to be phased out, as quickly as possible. Australia, as an oil importer with no domestic car production is in a position to pursue this target aggressively. We should, as others have done, commit to a date, say 2030, after which all new cars sold would be zero emission.

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John Quiggin Thursday, December 6, 2018 - 14:32 Source

A week ago, I was speaking at a Royal Society of NSW Forum on the topic “Getting climate policy back on track” when the news came through that Adani had announced a start to the Carmichael mine “before Christmas”, funded from the company’s own reserves.  With Christmas now less than three weeks away, where do things stand?

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MacroBusiness Thursday, December 6, 2018 - 14:22 Source

I like John Kehoe. He has talent. But he should be careful of what company he keeps: One quarter of soft economic activity does not make a trend, so chatter about the Reserve Bank of Australia being forced to switch its bias to interest rate cuts is premature. …the fundamentals for the local economy remain

The post Some free advice for John Kehoe appeared first on MacroBusiness.

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Renew Economy Thursday, December 6, 2018 - 14:20 Source

Just weeks after saying it wouldn't, McGowan government reveals plans to release a new, explanded and upgraded climate policy over the next 12 months.

The post WA backflips, reveals plan to develop new state climate policy appeared first on RenewEconomy.

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Renew Economy Thursday, December 6, 2018 - 14:10 Source

Energy minister's wife says rolling blackouts are needed to prove left-wing populist policies are wrong.

The post Energy minister’s wife says rolling blackouts needed to teach lefties a lesson appeared first on RenewEconomy.

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Renew Economy Thursday, December 6, 2018 - 14:01 Source

The first South Australian (SA) road built with soft plastics and glass at Happy Valley in the City of Onkaparinga will see plastic from approximately 139,000 plastic bags and packaging and 39,750 glass bottle equivalents diverted from landfill.

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MacroBusiness Thursday, December 6, 2018 - 14:00 Source

Via Martin North: DFA has released the November 2018 mortgage stress and default analysis update. Across Australia, more than 1,015,600 households are estimated to be now in mortgage stress (last month 1,008,000). This equates to 30.9% of owner occupied borrowing households. In addition, more than 22,500 of these are in severe stress. We estimate that

The post Australian mortgage stress hits new all time highs appeared first on MacroBusiness.

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The Australian Independent Media Network Thursday, December 6, 2018 - 13:37 Source

“This is going to be one of the most infamous news disasters since Stern published the ‘Hitler Diaries.’” (WikiLeaks, Twitter, Nov 27, 2018). Those at The Guardian certainly felt they were onto something. It would be a scoop that would have consequences on a range of fronts featuring President Donald Trump’s former campaign chairman Paul…

The post The Bomb that Did Not Detonate: Julian Assange, Manafort and The Guardian appeared first on The AIM Network.

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MacroBusiness Thursday, December 6, 2018 - 13:30 Source

By Leith van Onselen Over the past year or so, I have ridiculed the new found push by Coalition politicians towards decentralisation, noting that this is a pipe dream based on the settlement pattern of new migrants, which have overwhelmingly chosen to flood the major cities. My view was initially based primarily on data from

The post Migrants only want to move to Melbourne and Sydney appeared first on MacroBusiness.

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MacroBusiness Thursday, December 6, 2018 - 13:00 Source

How? How did they do it? From the EIA: EIA expects total U.S. coal consumption in 2018 to fall to 691 million short tons (MMst), a 4% decline from 2017 and the lowest level since 1979. U.S. coal consumption has been falling since its peak in 2007, and EIA forecasts that 2018 coal consumption will

The post US coal usage crashes to 40 year lows, no blackouts appeared first on MacroBusiness.

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MacroBusiness Thursday, December 6, 2018 - 12:45 Source

By Leith van Onselen Over the past few years, I have called for an overhaul of Australia’s dietary guidelines, including Australia’s Health Star Rating System, which has too often ignored the prevalence of sugar while demonising natural saturated fats. I have also criticised Australian dieticians’ staunch defence of existing failed dietary guidelines that promote a

The post Farcical health star ratings system gets facelift appeared first on MacroBusiness.

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Renew Economy Thursday, December 6, 2018 - 12:44 Source

This week we go to Sundowners, discuss the collapse of RCR, and interview Andrea Gaffney from Planet Renewables, and Chris McGrath from solar innovators 5B.

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MacroBusiness Thursday, December 6, 2018 - 12:31 Source

Via the ABC: Canada has arrested Huawei’s global chief financial officer in Vancouver, where she is facing extradition to the United States on suspicion she violated US sanctions against Iran, reports say. Meng Wanzhou, who is one of the vice chairs on the Chinese technology company’s board and the daughter of company founder Ren Zhengfei,

The post Australian dollar smashed by Huawei arrest appeared first on MacroBusiness.

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MacroBusiness Thursday, December 6, 2018 - 12:30 Source

Via Domain: When NSW Opposition leader Luke Foley spectacularly resigned from Parliament amid a sexual harassment allegation, Labor strategists were bracing for a hit. …Yet Labor has not only recovered but is ahead. The latest Herald poll, conducted across the state on the weekend, has Labor leading the Coalition 51 to 49 on a two-party-preferred

The post Scummo still stinking up Berejiklian appeared first on MacroBusiness.

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Renew Economy Thursday, December 6, 2018 - 12:17 Source

Our research finds, emphatically, that in electricity there is no dilemma between decarbonisation and lower wholesale prices. The “tri-lemma” concept is already past its prime.

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MacroBusiness Thursday, December 6, 2018 - 12:16 Source

By Leith van Onselen The Australian Bureau of Statistics (ABS) today released trade data for the month of October, with Australia’s trade surplus falling to $2,316 million in October from $2,709 million in September: The result missed expectations of a $3 billion surplus. Below is the time series chart: The below chart tracks the growth

The post Trade surplus falls, misses expectations appeared first on MacroBusiness.

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Renew Economy Thursday, December 6, 2018 - 12:15 Source

British-Dutch oil and gas megalith reveals plan to develop new, shorter-term Net Carbon Footprint targets – that will be tied to executive remuneration.

The post Shell unveils new climate targets, links them to executive pay appeared first on RenewEconomy.

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MacroBusiness Thursday, December 6, 2018 - 12:15 Source

Gotti has missed the boat: If by chance Scott Morrison can unite his party then suddenly he has three “bread, butter and cake” issues outside of the morass of the energy/gender issues to fight an election. I can’t see him winning, but the ALP’s outright rejection of the Liberals’ much-needed small business taxation appeal system

The post Gotti rent-seeking eats dust appeared first on MacroBusiness.

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MacroBusiness Thursday, December 6, 2018 - 12:05 Source

By Leith van Onselen Last weekend, CoreLogic released its preliminary auction clearance rates, which revealed the following results: Today, CoreLogic has released its final auction results, which reported a large 5.7% decline in the national auction clearance rate to 41.3%, with Sydney’s auction clearance rate diving 9.0% to 41.6% and Melbourne’s falling 3.1% to just

The post Final auction clearance rate crashes to 2011 low appeared first on MacroBusiness.

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MacroBusiness Thursday, December 6, 2018 - 12:01 Source

Via FTAlphaville: Just days after President Trump broke bread with Chinese president Xi Jinping in Buenos Aires and agreed to a ceasefire in the US-China trade war, Trump tweeted that his administration is working closely “on seeing whether or not a REAL deal with China is actually possible”. If not, the self-proclaimed “Tariff Man” warned that new

The post What has Cold War 2.0 cost Trump’s stock market? appeared first on MacroBusiness.

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MacroBusiness Thursday, December 6, 2018 - 11:50 Source

By Leith van Onselen The Australian Bureau of Statistics (ABS) has released retail sales figures for the month of October, which recorded a 0.3% rise in retail sales over the month in seasonally-adjusted terms, with annual sales growth steady at 3.6%: In trend terms, annual retail sales growth was flat to 3.5%. The below chart

The post Retail sales steady despite housing headwinds appeared first on MacroBusiness.

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MacroBusiness Thursday, December 6, 2018 - 11:45 Source

By Leith van Onselen Philippe Brach, CEO of Multifocus Properties and Finance, has penned a hilariously contradictory article in Your Investment Property attacking Labor’s proposed negative gearing reforms. Let’s take a look at his key arguments. First, on Budget impacts: By allowing negative gearing on investment properties, the government forgoes about $3 billion in taxes

The post Another ‘worst ever’ negative gearing attack appeared first on MacroBusiness.

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MacroBusiness Thursday, December 6, 2018 - 11:30 Source

By Leith van Onselen The immigration-driven population boom in Sydney – which has added nearly one million people to Sydney’s population over the past 13 years and is projected to increase Sydney’s population by 94,000 people a year over the next 48 years – is the gift that keeps on giving. Over recent years, we

The post Crush-loaded Sydney schools mull double shifts appeared first on MacroBusiness.

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MacroBusiness Thursday, December 6, 2018 - 11:15 Source

From Oxford Economics: In 2017, a gas crisis emerged in Australia’s East Coast gas market. Gas prices had increased rapidly from mid-2016 as the full effect of the three LNG projects starting operations on Curtis Island worked through the gas market, putting domestic energy users under pressure. In March 2017, the Australian Energy Market Operator

The post The Australian gas crisis redux appeared first on MacroBusiness.

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MacroBusiness Thursday, December 6, 2018 - 11:00 Source

By Leith van Onselen Several commentators have warned that Sydney and Melbourne are facing far worse housing correction than Perth, whose housing market has been plunging for more than four years. From The ABC: Perth is more than four years into a housing downturn that is yet to bottom out… In WA, house prices were

The post Sydney’s/Melbourne’s house price busts will be worse than Perth’s appeared first on MacroBusiness.

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