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Oz Blog News Commentary
MacroBusiness Monday, October 21, 2019 - 11:40 Source

Via Banking Day: The Australian Taxation Office can disclose tax debt information to credit reporting agencies, following the passage of a tax bill last week. Under normal circumstances, it is an offence for a taxation officer to disclose protected information that has been acquired by them as a taxation officer. Under the new law, included

The post ATO threatens to drop tax debt bomb on specfestor tradies appeared first on MacroBusiness.

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Renew Economy Monday, October 21, 2019 - 11:38 Source

tesla battery hornsdaleTesla big battery at Hornsdale has just earned its biggest monthly revenue from wholesale markets.

The post Tesla big battery at Hornsdale earns record revenue in September 2019 appeared first on RenewEconomy.

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MacroBusiness Monday, October 21, 2019 - 11:20 Source

The ease with which Labor can win the next federal election is nicely illustrated today by two stories. The first is that ScoMo’s polling is very weak for a honeymoon period PM as the weak economy drags him down. The second is captured nicely by Peter van Onselen: The Australian Electoral Commission has released data

The post Labor must merge with One Nation to win appeared first on MacroBusiness.

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MacroBusiness Monday, October 21, 2019 - 11:00 Source

Via The National Interest: The People’s Liberation Army Navy—more commonly known outside of China as the Chinese Navy—is modernizing at a breakneck pace. Chinese shipbuilders have built more than one hundred warships in the past decade, a build rate outstripping the mighty U.S. Navy. Most importantly, China now has two aircraft carriers—Liaoning and a second

The post CCP building a fourth aircraft carrier appeared first on MacroBusiness.

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xkcd.com Monday, October 21, 2019 - 11:00 Source

If you'd just agree to hold your meetings in here, you'd have PLENTY of time to figure things out before the deadline.

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MacroBusiness Monday, October 21, 2019 - 10:40 Source

Auction clearance rates continued to run strong over the weekend, with the preliminary rate nationally coming in at 75.6%, albeit down slightly from 77.3% last weekend: Auction clearances were also way above the 46.0% recorded in the same weekend last year: Sydney’s preliminary clearance rate was 84.3%, up from 82.3% last weekend, and way above

The post Sydney auction clearances boom into the mid-80s appeared first on MacroBusiness.

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Your Democracy Monday, October 21, 2019 - 10:29 Source
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MacroBusiness Monday, October 21, 2019 - 10:00 Source

Via Bill Evans: The employment report for September printed a modest fall in the unemployment rate from 5.26% to 5.20%. Further, the underemployment rate fell from 8.53% to 8.35%. That will be sufficient to avert another rate cut from the RBA in November. Westpac has consistently argued that a cut in November was unlikely and

The post Westpac: Aussie QE odds-on in 2020 appeared first on MacroBusiness.

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MacroBusiness Monday, October 21, 2019 - 09:45 Source

Regular readers will know that the notion of a coming slowdown in Chinese real estate investment has been one reason why MB is more bearish on Australia than most. We’ve been expecting a slowdown in investment and floor space under construction for a year yet it is has not materialised. Indeed, housing investment have been

The post Is Chinese real estate going to slow or not? appeared first on MacroBusiness.

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MacroBusiness Monday, October 21, 2019 - 09:30 Source

From Damien Boey at Credit Suisse: Over the weekend, UK Prime Minister Johnson’s attempt to get parliamentary approval for his Brexit deal fell flat – not because of inadequate support for his bill, but because of an earlier amendment put forward by Sir Letwin, designed to avoid any meaningful vote on the bill until details

The post Risk regime shift or polly drivel? appeared first on MacroBusiness.

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MacroBusiness Monday, October 21, 2019 - 09:20 Source

Via Ross Gittins today: Scott Morrison’s problem is that he gets politics – and is good at it – but doesn’t get economics. The Prime Minister doesn’t get that if he keeps playing politics while doing nothing to stop the economy sliding into recession, nothing will save him from the voters’ wrath. Neither he nor

The post Gittins: Scomoberg committing economic suicide appeared first on MacroBusiness.

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MacroBusiness Monday, October 21, 2019 - 09:20 Source

It is a worry for the Government. It is much less secure than Labor is making out (for no apparent reason), via The Australian: The Coalition has maintained its lead over Labor despite pressure over the economy and criticism of drought relief for farmers as ­Anthony Albanese’s approval ­ratings sink to their lowest since he

The post Bad honeymoon. ScoMo Newspolls bang someone else appeared first on MacroBusiness.

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MacroBusiness Monday, October 21, 2019 - 09:00 Source

Texture from Reuters: China’s central province of Henan has issued an orange smog alert, the second highest in the nation’s three-tier pollution alarm system, which will be applied to 12 cities. The alert means pollution controls in heavy industries, including steel and coke, will be strengthened from Oct. 18 to Oct. 23. In China’s top

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

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MacroBusiness Monday, October 21, 2019 - 08:00 Source

By Chris Becker  Friday night saw Wall Street lose further ground as the Brexit delay deal took over volatility on currency markets, sending the USD down against all the majors, except gold. Oil prices failed to reinforce the previous breakout with a big lift in inventories while renewed focus on the US/China trade war saw

The post Macro Morning appeared first on MacroBusiness.

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Your Democracy Monday, October 21, 2019 - 06:23 Source
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MacroBusiness Monday, October 21, 2019 - 00:15 Source

MB often works with international hedge funds on the Aussie economy. I recall the reaction of one from the US when he discovered that, unlike US fixed rate mortgages, Australian mortgages are all floating rate. He declared immediately: “Households must all pray for the next recession!” Why? Because that meant cheaper repayments for the overwhelming

The post Bugger the surplus. Households hate life without RBA insurance appeared first on MacroBusiness.

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MacroBusiness Monday, October 21, 2019 - 00:08 Source

For years, MB has highlighted the deep flaws in Australia’s purported ‘skilled’ visa system, which accounts for around two-thirds of Australia’s planned migrant intake: Our concerns has been based upon three main flaws, specifically: The overwhelming majority of migrants under the skilled stream are not actually skilled; Those that have arrived in Australia have overwhelmingly

The post Australia’s skilled visa hoax exposed again appeared first on MacroBusiness.

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MacroBusiness Monday, October 21, 2019 - 00:05 Source

Wage theft from international students has been an enduring theme across the Australian economy over times. Earlier this year, Alan Fels – the chair of the Migrant Workers Taskforce – described wage theft as “widespread and systematic”, and estimated that one-third of international students are being underpaid, typically by migrant employers of the same nationality:

The post International students enslaved by own countrymen appeared first on MacroBusiness.

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MacroBusiness Monday, October 21, 2019 - 00:04 Source

The US dollar sagged Friday night as EUR keeps pumping higher: That was enough to drive the Australian dollar higher against all DMs: It was mixed versus EMs: Gold is still deflating trade war safe haven trades so is missing the DXY input for now: Oil was calm: Copper firm: Miners soft: And EM stocks:

The post Australian dollar rides geopolitical relief rally higher appeared first on MacroBusiness.

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MacroBusiness Monday, October 21, 2019 - 00:01 Source

Global Macro / Markets / Investing: Stocks would rally if Trump quits, Wall Street firm predicts – CNN Goldman Banker Arrested Over U.S. Insider Trading Allegations – Bloomberg Global economy: ‘we must do everything possible’ to avoid global ‘fracture’ caused by US-China tensions, urges UN Secretary-General António Guterres – CRWEWorld Ray Dalio says the world

The post Links 21 October 2019 appeared first on MacroBusiness.

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Poll Bludger Sunday, October 20, 2019 - 21:58 Source

No change at all on voting intention in the latest Newspoll, which records a mixed bag of movements on the leaders' personal ratings.

The post Newspoll: 51-49 to Coalition appeared first on The Poll Bludger.

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Poll Bludger Sunday, October 20, 2019 - 21:52 Source

The Letwin amendment delays approval of a deal Brexit, as Boris Johnson sends three letters to the EU. Also: minority government likely in Monday’s Canadian election. Guest post by Adrian Beaumont.

The post Brexit, Canada preview and elsewhere appeared first on The Poll Bludger.

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Renew Economy Sunday, October 20, 2019 - 19:25 Source

Three Lyon companies placed in liquidation by Deloitte, just days after group announced solar and storage deal with Chinese power company.

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George Monbiot Sunday, October 20, 2019 - 18:56 Source

This is my rationale for getting arrested with Extinction
Rebellion

By George Monbiot, published in the Guardian 16th October
2019

A few hours after this column is published, I hope to be in a
police cell. I don’t yet know what the charge will be, where I will be arrested
or when, but I know that if I go home this evening without feeling the hand of
the law on my sleeve, I will have failed. This might sound like a strange
ambition, but I believe it is a reasonable one.

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The Australian Independent Media Network Sunday, October 20, 2019 - 18:09 Source

Applause, stamping, hoots and catcalls resound up and down our wide brown land as another big week in Oz-politics lives down to expectations, as John Crace says of Boris Johnson, now the incredible sulk, after his inevitable Brexit flip-flop just flops with a not-so-super Saturday vote to delay, a thinly-disguised ploy to sink the whole…

The post Surplus to requirements, ScoMo? appeared first on The AIM Network.

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The Australian Independent Media Network Sunday, October 20, 2019 - 17:58 Source

One of Joe Hockey’s first acts as Treasurer in 2013 was to gift the RBA $8.8 billion.  The main reason for this was to make Labor’s deficit look bigger.  As a side bonus, it allowed the RBA to invest in the forex market, banking on the Australian dollar losing value as the mining boom subsided.…

The post The Coalition money shuffle appeared first on The AIM Network.

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The Australian Independent Media Network Sunday, October 20, 2019 - 17:55 Source

Benedict Cumberbatch. Olivia Colman. Fine actors. They believe in Extinction Rebellion, or perhaps, rebelling against the prospect of extinction. The environment thing, humanity as a damnably scandalous, ecologically damaging species. But they also believe in taking sponsorship from the very same entities who are doing their best (or worst) to engage in matters of existential…

The post Celebrity Protesters and Extinction Rebellion appeared first on The AIM Network.

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The Australian Independent Media Network Sunday, October 20, 2019 - 14:59 Source

Ok, I thought I might be imagining it, but I’ll show you the tweets to see if you notice what I noticed. I don’t actually follow the Liberal Party of Australia on Twitter but their tweets pop in my feed… possibly because I frequenly go to the sites of various Coalition politicians to check if…

The post What The Liberals Did Next And Wasn’t It Just The Best Thing Since Sliced Bread? appeared first on The AIM Network.

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MacroBusiness Sunday, October 20, 2019 - 10:20 Source

A nice video here from Ray Dalio covering many MB themes around the great global growth sag:

The post Ray Dalio on the great growth sag appeared first on MacroBusiness.

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MacroBusiness Sunday, October 20, 2019 - 08:48 Source

September saw volatile, but ultimately strong equity markets push the investment returns for most superannuation funds higher. Our tactical investment funds performed well, and continue to post-investment returns above the returns of most Australian super funds over the last year. This comes despite their defensive stance. In our portfolios, we are positioned for adverse outcomes,

The post MB Fund September 2019 Performance appeared first on MacroBusiness.

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