Blogotariat

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MacroBusiness Wednesday, April 17, 2019 - 11:00 Source

By Leith van Onselen Back in 2016, Vancouver city council has voted to approve a tax on empty homes introduced a 1% tax on homes that are not principal residences or aren’t rented out for at least six months of the year, in response to a large number of homes reportedly being left vacant by overseas

The post Vancouver’s vacancy tax unlocks oodles of rental properties appeared first on MacroBusiness.

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MacroBusiness Wednesday, April 17, 2019 - 10:45 Source

By Leith van Onselen The latest Roy Morgan Research (RMR) unemployment estimate for March jumped 1.3% to 10.6%, and surged 2.0% over the year: Labour underutilisation also surged to 20.6%. Below are the key points from the release: Australian unemployment increased to 1.49 million in March (10.9% of the workforce) with an additional 1.32 million

The post Roy Morgan unemployment jumps to 10.9% appeared first on MacroBusiness.

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MacroBusiness Wednesday, April 17, 2019 - 10:30 Source

Maybe it’s just that everyone is away for Easter. But this election campaign is shaping as an almighty dud so far. Today’s line-up is a big, fat nothing burger: Peter Dutton is hideous at AFR; Chinese candidate hates poofters at ABC; ALP playing small target (except it isn’t) at Domain; ALP changes website at The

The post ALP whistling through election nothing burger? appeared first on MacroBusiness.

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MacroBusiness Wednesday, April 17, 2019 - 10:15 Source

By Leith van Onselen MB has gone to great lengths to expose the crash in real employee incomes that has taken place this decade, as evident by the circa 5% fall in real average employee compensation since March 2012: The 0.5% real fall in average weekly earnings since May 2013: And the 0.3% real decline

The post The Coalition is a wages disaster appeared first on MacroBusiness.

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MacroBusiness Wednesday, April 17, 2019 - 10:00 Source

Via the AFR comes Australian manufacturing: The federal government should create a public gas company to drive investment in new supply, say major energy users who warn urgent intervention is needed to avert plant shutdowns and mass job losses. …A “Commonwealth Gas Co” could support the development of new gas pipelines and a gas import

The post Manufacturers go after gas cartel appeared first on MacroBusiness.

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MacroBusiness Wednesday, April 17, 2019 - 10:00 Source

By Leith van Onselen After Labor last month doubled down on lifting Australia’s superannuation guarantee (compulsory superannuation) to 12%, the Grattan Institute has issued a firm rebuke in its pre-election Orange Book: [Grattan] urges the next government to abandon the current plan to increase compulsory superannuation payments from 9.5 per cent to 12 per cent,

The post Grattan: Labor’s compulsory super increase will lower wages appeared first on MacroBusiness.

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xkcd.com Wednesday, April 17, 2019 - 10:00 Source

And because if you just leave it there, it's going to start contaminating things downstream even if no one touches it directly.

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Renew Economy Wednesday, April 17, 2019 - 09:58 Source

South Australia’s biggest electricity distribution company is seeking to reduce dependence on its very own grid, by installing just under 500kW of solar across two depots.

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Renew Economy Wednesday, April 17, 2019 - 09:54 Source

Prices for Tesla's Model 3 may start as low as $A60,000, although with a caveat about whether Autopilot will now come standard, or remain an option.

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Renew Economy Wednesday, April 17, 2019 - 09:39 Source

The second ultra-rapid charger in a 21-strong network goes online on the border of Victoria and New South Wales.

The post Chargefox extends ultra-rapid electric car charging network appeared first on RenewEconomy.

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MacroBusiness Wednesday, April 17, 2019 - 09:30 Source

By Leith van Onselen Migrant communities have stepped up their campaign to loosen Australia’s newly established ‘temporary’ elderly parental visas, which from this month will allow up to 15,000 elderly parents of migrants to live in Australia for a continuous period of three, five or 10 years. Several migrant communities have labelled these “absolutely unfair” because

The post Migrants sharpen attack against “unfair” elderly parent visas appeared first on MacroBusiness.

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Your Democracy Wednesday, April 17, 2019 - 09:17 Source

notre dame

I could be so uncouth as to idiotically go below the stupid reasons why Notre Dame of Paris went up in flame… I will be so uncouth...

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MacroBusiness Wednesday, April 17, 2019 - 09:15 Source

Via the Communist Party mouthpiece Global Times: According to Reuters on Saturday, China told Australia at the World Trade Organization (WTO) on Friday that Australia’s restrictions on Chinese 5G technology was “obviously discriminative” and appeared to break global trade rules. However, Australian Trade Minister Simon Birmingham said on Sunday that the Australian government “stands by

The post CCP mouthpiece: Australia “under command” of US appeared first on MacroBusiness.

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MacroBusiness Wednesday, April 17, 2019 - 09:12 Source

Iron ore prices for April 16, 2019: Spot down. Paper easing. Steel too. The news is Brucutu, via Reuters: A Brazilian state court has authorized iron ore miner Vale SA to resume operations at the Brucutu mine, its largest in Minas Gerais state, according to a court document. Brucutu was shuttered in early February by

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

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MacroBusiness Wednesday, April 17, 2019 - 08:14 Source

DXY was firm last night as EUR eased: AUD was strong anyway against DMs: Mixed against EMs: Gold sank: Oil jumped again: Metals fell: And miners: EM stocks are still poised for higher: Junk was stable: Treasuries sold: And bunds: The RBA has missed its window: Stocks keep climbing: Westpac has the wrap: Event Wrap

The post China credit drenching turns Australian dollar higher appeared first on MacroBusiness.

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MacroBusiness Wednesday, April 17, 2019 - 08:00 Source

By Chris Becker  Last night saw risk markets try to breakout of its recent contained mood with US stocks putting in scratch sessions as European bourses found some more risk as Euro and Pound Sterling retreated against USD. Industrial production figures from the US is partly to blame on the spoiling mood while the German ZEW Survey

The post Macro Morning appeared first on MacroBusiness.

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The Tally Room Wednesday, April 17, 2019 - 06:45 Source

Ben is joined by Shaun Ratcliff and Paddy Manning to discuss the latest federal polls, seats where independents are challenging the Coalition, and the conclusion of the NSW upper house count.

Thanks to 2SER radio in Sydney for the use of their studio.

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Your Democracy Wednesday, April 17, 2019 - 06:19 Source
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The Australian Independent Media Network Wednesday, April 17, 2019 - 06:00 Source

Monday 15 April 2019 1 The week opened with an unexpected Newspoll on Monday giving way to the view that Murdoch will be publishing a weekly poll from now on. The poll, now that the election has been announced, gives a more accurate view of who people intend to vote for. 52% intend voting for Labor…

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Poll Bludger Wednesday, April 17, 2019 - 05:37 Source

A private poll turns up a surprisingly strong result for the Liberals in the Labor-held Tasmanian state of Bass, while a Liberal candidate stumbles in a key Melbourne marginal seat.

The post Campaign updates: Bass, Chisholm et al. appeared first on The Poll Bludger.

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MacroBusiness Wednesday, April 17, 2019 - 00:20 Source

By Leith van Onselen Infrastructure Victoria has released a incredibly superficial propaganda report, entitled Growing Victoria’s Potential, spruiking the benefits that could arise from the state’s manic population growth, which is expected to see Melbourne’s population balloon to 8 million people by 2051. Below are key extracts from the Executive Summary along with some key charts:

The post Infrastructure Victoria spins population propaganda appeared first on MacroBusiness.

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MacroBusiness Wednesday, April 17, 2019 - 00:20 Source

Via the excellent George Tharenou at UBS: Based on our proprietary survey, we cut our Q1 headline CPI forecast to 0.0% q/q (was 0.2%), a sharp slowing from Q4’s 0.5%. This would be the weakest in 3 years, & lower for only 3 quarters in the last 22 years. The key drag is fuel (-9.6%,

The post UBS: CPI to pull donut, trigger early RBA cuts appeared first on MacroBusiness.

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MacroBusiness Wednesday, April 17, 2019 - 00:19 Source

Ah, as night follows day comes Chinese real estate markets already turning as the 2019 credit drenching lifts alt boats, via Reuters: Average new home prices in China’s 70 major cities rose 0.6 percent in March, quickening from a 0.5 percent gain in February, according to Reuters calculation of data released by the National Bureau

The post China’s credit drenching turns realty prices up appeared first on MacroBusiness.

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MacroBusiness Wednesday, April 17, 2019 - 00:15 Source

By Leith van Onselen CoreLogic’s latest dwelling sales data reveals more bad news for those groups heavily reliant on property transactions, including real estate agents and state governments (via stamp duty). It also points straight down for house prices. The next chart plots annual sales volumes across Australia’s capital cities to December 2018, which are

The post The epic crash of Aussie property sales appeared first on MacroBusiness.

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MacroBusiness Wednesday, April 17, 2019 - 00:10 Source

By Leith van Onselen SQM Research has released its rental vacancy series for February, which revealed no change in the national vacancy rate over the month or year: Over the year, increases in vacancies were recorded in Sydney (+0.8%), Melbourne (+0.2%), Canberra (+0.3%) and Darwin (+0.1%), whereas Brisbane (-0.7%), Perth (-1.2%), Adelaide (-0.3%) and Hobart

The post SQM: Rental vacancies to rise over 2019 appeared first on MacroBusiness.

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MacroBusiness Wednesday, April 17, 2019 - 00:01 Source

Global Macro / Markets / Investing: Goldman Sachs CEO David Solomon slashes pay for his employees as revenue drops – CNBC Plug-in electric car ownership up 76% in 2018 – Fleet News Goldman Sachs Quarterly Profit Falls 20 percent – Reuters Huawei is ‘open’ to selling 5G chips to Apple for iPhones, marking a big

The post Links 17 April 2019 appeared first on MacroBusiness.

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THE BLOT REPORT Tuesday, April 16, 2019 - 22:25 Source

Very few Murdoch ‘journalists’
are real journalists; many are just Liberal Party fundament osculators. One of
the few who is a real journalist is Malcolm Farr, but he has not done himself
any favours this week in publishing an article in which he stated that “the
public debate on the existence of climate change is over and we are owed an
apology”1. To be blunt, this is equine ordure. The debate was over
long ago. It is just that the halfwit deniers in parliament2 and in
the Murdoch media, either think they are superior climate scientists to all the

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Your Democracy Tuesday, April 16, 2019 - 21:30 Source
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En Passant Tuesday, April 16, 2019 - 20:29 Source

It has been five days since Scott Morrison called the election. Already I feel underwhelmed.

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The Australian Independent Media Network Tuesday, April 16, 2019 - 17:52 Source

The modern UN Refugee Convention is now so flea-bitten it’s been put out to the garbage tip of history. At least the enthusiastic fleas think so, given their conduct as political representatives across a range of parliaments keen on barbed wired borders and impenetrable defences. Across Europe, the issue of refugees arriving by sea –…

The post Passing the Parcel: The European Union and Refugees in the Mediterranean appeared first on The AIM Network.

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