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MacroBusiness Wednesday, December 11, 2019 - 14:20 Source

Sydney has disappeared, at The Guardian: The New South Wales environment minister Matt Kean has split from his federal Coalition counterparts, arguing climate change is behind the bushfire crisis and calling for greater emissions reduction. Kean’s intervention piles pressure on Scott Morrison to do more on emissions reduction and disaster management after his predecessor Malcolm

The post No end for drought as Sydney disappears into smoke appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 11, 2019 - 14:00 Source

The Morrison Government continues to contradict itself on the National Broadband Network (NBN), simultaneously promising to enhance competition while also taxing competing internet services. From veteran telecommunications analyst, Paul Budde: The Coalition Government is creating greater confusion about its telecoms strategy going forward. On several occasions, the new Communications Minister Paul Fletcher has indicated that

The post Coalition entrenches NBN Monopoly appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 11, 2019 - 13:54 Source

More retail carnage: Harris Scarfe has been placed into receivership with Vaughan Strawbridge, Kathryn Evans and Tim Norman of Deloitte Restructuring Services appointed voluntary administrators on Wednesday. Operating nationally, but best known in Victoria, South Australia and Tasmania, Harris Scarfe retails bed linen, kitchenware, homewares, electrical appliances, and apparel across 66 stores. The business employs

The post Harris Scarfe goes bust appeared first on MacroBusiness.

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Renew Economy Wednesday, December 11, 2019 - 13:53 Source

NSW Department of Planning gives development approval for "state significant" 125MW Maryvale solar farm, in the Central-West Renewable Energy Zone.

The post Maryvale solar farm approved for development in NSW renewables zone appeared first on RenewEconomy.

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Renew Economy Wednesday, December 11, 2019 - 13:46 Source

ARENA's 5th solar R&D funding round to focus on cutting the costs and amount of waste to landfill from solar panels that have reached the end of their working lives.

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MacroBusiness Wednesday, December 11, 2019 - 13:40 Source

Via The Guardian today: A “frontline” Hong Kong democracy protester who recently fled the territory in fear of his safety says he was ambushed and chased in an Australian city by a group of masked Chinese men. “They were nearby my house and waiting for me,” Jack* told Guardian Australia. “They knew my address, they knew where

The post CCP bullies Hong Kong freedom fighter Downunder appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 11, 2019 - 13:20 Source

Headlines today for iron ore are for less next year courtesy of Anglo: Anglo American has trimmed its production forecasts for iron ore, diamonds and coal for the next two years, the mining company said in an update for investors on Tuesday. Anglo American lowered its forecast for its Kumba Iron Ore business from 42-43

The post Anglo adds to iron ore pain appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 11, 2019 - 13:00 Source

After ceasing local manufacturing in 2017, Holden’s interim chairman and MD Kristian Aquilina has confirmed that the Commodore sedan will be discontinued, ending 41 years of sales where more than three million Commodores were sold. The announcement comes after sales of the Commodore fell to just 5,417 for the first 11 months of the year:

The post Holden Commodore read last rites appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 11, 2019 - 12:45 Source

Via the AFR: “As a result of lower long-term interest rates our cost of capital has naturally lowered over recent years,” Medibank chief executive Craig Drummond told The Australian Financial Review’s annual Chanticleer CEO poll. “Nevertheless, those lower interest rates have elevated asset prices, making inorganic investment more challenging.” Tabcorp chief executive David Attenborough backed this

The post CEOs hose RBA hurdle rate clap trap appeared first on MacroBusiness.

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Club Troppo Wednesday, December 11, 2019 - 12:38 Source

The one thing I learned in my university education, the one thing that excited me, was the need for people to exercise real effort in understanding each other. The language we use is so full of shades of meaning and we’re such emotional creatures – particularly when we’re arguing. Johnathan Haight has popularised lots of the evidence of the truth of Hume’s claim that our reason is the slave to our passions.

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The Australian Independent Media Network Wednesday, December 11, 2019 - 12:34 Source

The role of government should be to identify, prioritise, and deal with the challenges we face. But do you ever hear a government politician even admit that we have any problems? Even the drought is seen as normal.  It will rain one day.  Give them a bit of money in the mean time until the…

The post Do you ever hear a government politician even admit that we have any problems? appeared first on The AIM Network.

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Renew Economy Wednesday, December 11, 2019 - 12:34 Source

ITK forecasts that the tine weighted spot price average in Victoria for the March 2020 quarter will be lower than the current futures quote, but price forecasts are inherently subject to error. The price forecast has fallen despite the fact the weather forecast continues to be terrible. Seeing climate change problems emerging as predicted won’t...

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MacroBusiness Wednesday, December 11, 2019 - 12:30 Source

The Australian Bureau of Statistics (ABS) yesterday released its Labour Account Australia, Quarterly Experimental Estimates for the September quarter, which revealed that the number of Australians holding multiple jobs hit a record high 6%: The number of multiple job holders in Australia (people who work secondary jobs) increased by 2.8 per cent in the quarter,

The post A record 6% of Aussies hold multiple jobs appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 11, 2019 - 12:15 Source

Vai ZeroHedge: The ongoing recession in the global auto market has undoubtedly been lead by China – and if November’s trends are any indication, the entire industry could be setting up for an ugly 2020.  Sales of sedans in China fell 4.2% in November to 1.97 million units, according to the CPCA on Monday. This marks

The post Chinese car sales keep falling appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 11, 2019 - 12:00 Source

An income-dependent Boomer mate recently asked me what I thought of Listed Investment Companies and Listed Investment Trusts (LIC and LITs). He’s being pushed to invest in them by a financial planner because his term deposit income has fallen. I didn’t know enough about it be useful so set about investigating for him. What I

The post Mathias Cormann looses dodgy security tsunami in LICs and LITs appeared first on MacroBusiness.

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AustralianPolitics.com Wednesday, December 11, 2019 - 11:53 Source

Full text of the Articles of Impeachment against President Donald Trump, released by Democratic Party leaders in the House of Representatives.

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MacroBusiness Wednesday, December 11, 2019 - 11:45 Source

The Australian Housing & Urban Research Institute (AHURI) has warned that the shortage of affordable rental housing has risen since 2011 and will continue to worsen in coming years. The AHURI estimates that the shortage of affordable homes for the lowest 20 per cent of income earners now tops 212,000. The lead researcher, Swinburne University’s

The post Mass immigration drives huge shortage of affordable homes appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 11, 2019 - 11:30 Source

Via Credit Suisse: The Fed’s liquidity operations have not been sufficient to relax the constraints banks will face in the upcoming year-end turn. Reserves are still insufficient; there are no true “excess” reserves; and large U.S. banks’ G-SIB scores are shaping up to be a severe binding constraint heading into the year-end turn. We have

The post Countdown to QE4? appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 11, 2019 - 11:15 Source

Via Stuff: The Government will invest an extra $12b in infrastructure over the next four years, including $6.8b on transport. Finance Minister Grant Robertson unveiled the spending at the Half-Yearly Economic and Fiscal Update (HYEFU) on Wednesday afternoon, saying it was the right time to take advantage of low interest rates and “future-proof” New Zealand

The post New Zealand humiliates Recessionberg with big infrastructure spend appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 11, 2019 - 11:00 Source

The Brotherhood of St Laurence has released a new report, entitled “Prosperity’s children”, which documents the growing problem of long-term unemployment among Australia’s youth and shows that young Australians are far worse-off than a decade ago: Nearly one in five unemployed 15 to 24 year olds today have been out of work for 52 weeks

The post A decade of economic doom for young Australians appeared first on MacroBusiness.

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xkcd.com Wednesday, December 11, 2019 - 11:00 Source

Not actual size, except technically at one spot near the left.

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MacroBusiness Wednesday, December 11, 2019 - 10:51 Source

No stopping it, via Bill Evans at Westpac: • The Westpac-Melbourne Institute Index of Consumer Sentiment declined 1.9% to 95.1 in December from 97.0 in November. The Index has fallen 6.1% since the RBA started cutting the cash rate in June and has been below the 100 level, indicating pessimists outnumber optimists, throughout the second

The post Consumer sentiment slides towards Santa shocker appeared first on MacroBusiness.

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A Senex View Wednesday, December 11, 2019 - 10:48 Source

Michelle Grattan from The Conversation puts it best.

When five former fire chiefs held a news conference on Thursday to urge the federal government to take more action on climate change, it was a challenging moment for Scott Morrison.

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MacroBusiness Wednesday, December 11, 2019 - 10:40 Source

Via the excellent George Tharenou at UBS: Treasurer Frydenberg will soon release the Commonwealth Budget update (MYEFO), likely on December 16. Positively, the Final Budget Outcome for 18/19 already beat April’s Budget estimate by a significant $3.5bn (UCB basis), with the $0.7bn deficit outcome (i.e. ~’balanced’) the smallest since the GFC. Furthermore, monthly data for

The post UBS: No fiscal coming, RBA forced to cut appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 11, 2019 - 10:20 Source

The Australian Bureau of Statistics (ABS) yesterday released its Labour Account Australia, Quarterly Experimental Estimates for the September quarter, which revealed that filled jobs in the Health care and social assistance industry increased by 8.2% the year to September 2019, more than any other industry. The Health care and social assistance industry was also the

The post Bedpan jobs boom delivers bedpan economy appeared first on MacroBusiness.

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The Australian Independent Media Network Wednesday, December 11, 2019 - 10:00 Source

By Europaeus * Continued from Part 1  Americans struggle to come to terms with the country’s original racism at a time of weaponised ‘white supremacy’, when domestic terrorism with a white male face poses the greatest threat to their lives. Home-grown ‘white nationalists’ account for most of the terrorist violence and most of the 850 domestic terror cases federal authorities…

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MacroBusiness Wednesday, December 11, 2019 - 10:00 Source

One of the most profound changes affecting the Australian economy and society this century has been the massive lift in Australia’s net overseas migration (NOM) and population growth under the multi-partisan Big Australia policy. This rapid population growth is projected to continue for decades to come, if current policy settings favouring high immigration continue. The

The post The death of the Aussie backyard appeared first on MacroBusiness.

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The Australian Independent Media Network Wednesday, December 11, 2019 - 09:52 Source

By Loz Lawrey   In any democratic parliament, they waste so much space and time, bloviating incessantly and indulging in constant tribal self-aggrandisement. Call them conservatives, right wingers, contrarians, shallow-minded barbarians, knuckle-draggers, “Trumpanzees” (in the U.S.A.), “Morrison’s Morons”… call them whatever. They’re a breed. Short on new ideas, but big on ideology and “belief”, they place…

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The Tally Room Wednesday, December 11, 2019 - 09:47 Source

I have just finished my first full seat guide since the federal election, and it covers the Brisbane City Council election, due on March 28.

Brisbane City is the largest council in Australia by quite a long way and in some ways more resembles a small state election than a council election. The guide includes comprehensive guides to all 26 wards as well as the lord mayoral election.

Read the guide now

I will be providing some more coverage of this election, starting with a podcast about the election going up tomorrow.

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MacroBusiness Wednesday, December 11, 2019 - 09:40 Source

Chinese new yuan loans for November are out and remain subdued. Total social financing was 1750bn yuan while bank lending was 1390bn yuan of that: Year on year growth rebounded to 15% but the three month moving average is just 2%: Shadow banking contonues to trend lower: Rolling annual new loans has stalled: M2 is

The post Chinese credit slowly slows appeared first on MacroBusiness.

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