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Your Democracy Wednesday, July 8, 2020 - 11:08 Source
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MacroBusiness Wednesday, July 8, 2020 - 11:00 Source

by Chris Becker With yet another industrialised nation announcing a record government deficit (Canada this time with $300bn, close to our own $240bn), and central banks furiously papering up over massive cracks in the global economy in the wake of the coronavirus pandemic, it’s no wonder that the Minsky Metal is on a tear, almost

The post Gold surges toward decade high appeared first on MacroBusiness.

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MacroBusiness Wednesday, July 8, 2020 - 10:40 Source

Martin North from Digital Finance Analytics has released new mortgage stress data, which reveals that more than one quarter of Australian property investors are losing money on a cash flow basis: Digital Finance Analytics has released the results of our rolling 52,000 household surveys to the end of June, which reveals that mortgage stress rose

The post One quarter of Aussie property investors underwater appeared first on MacroBusiness.

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MacroBusiness Wednesday, July 8, 2020 - 10:20 Source

The Morrison Government’s HomeBuilder subsidy, which gives up to $25,000 to eligible households to build or substantially renovate their homes, has ignited massive surge of buyers of house and land packages, according to agents and developers: Inquiries have tripled and land sales have gone up by more than 300 per cent since the HomeBuilder scheme

The post HomeBuilder grants trigger ‘land frenzy’ appeared first on MacroBusiness.

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MacroBusiness Wednesday, July 8, 2020 - 10:00 Source

With Victoria accounting for around one quarter of the nation’s economy and Melbourne making up 20% of the nation’s population, Commonwealth Bank head of Australian economics, Gareth Aird, says the six-week lockdown in Melbourne is likely to reduce Australia’s GDP growth by about 1% in the September quarter. While the economic cost of the lockdown

The post Victoria faces $12b economic hit from new lockdown appeared first on MacroBusiness.

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The Australian Independent Media Network Wednesday, July 8, 2020 - 10:00 Source

By William Olson   A recent run of statistics regarding Australia’s young people in the workforce, occurring prior to and during the COVID-19 pandemic, reveal an alarming trend towards record levels of unemployment and under-employment for men and women in that demographic. And with that, it only highlights the growing inequality happening within the country. Citing…

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xkcd.com Wednesday, July 8, 2020 - 10:00 Source

Good thing I'm not already prone to overthinking everyday decisions!

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Your Democracy Wednesday, July 8, 2020 - 09:35 Source
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MacroBusiness Wednesday, July 8, 2020 - 09:30 Source

By Chris Becker  Global risk sentiment soured again overnight in response to more coronavirus fears, with Brazil’s autocratic Bolsanoro now infected, while US deaths spiked to a new daily high, almost reaching a thousand (although likely a lag from long weekend of little reporting). Wall Street slipped, pulling European stocks with them, while bond yields

The post Macro Morning appeared first on MacroBusiness.

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Renew Economy Wednesday, July 8, 2020 - 08:01 Source

As somebody who held a senior position at Defence until very recently, the latest strategy update is incredibly disheartening to read. It barely mentions one of Australia’s greatest security challenges – climate change.

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MacroBusiness Wednesday, July 8, 2020 - 08:00 Source

by Chris Becker The iron ore complex played catchup to other risk markets with sizeable gains across spot and futures in China and on the SGX yesterday, although coking coal slipped slightly. Here’s the price matrix and daily charts: Iron ore shipments have slipped for the last week in China, helping support prices, down nearly

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

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Your Democracy Wednesday, July 8, 2020 - 07:59 Source

venus

Today, Google celebrates the birth of Artemisia Lomi or Artemisia Gentileschi — an Italian Baroque painter, now considered one of the most accomplished seventeenth-century artists working in the dramatic style of Caravaggio.

Born: 8 July 1593, Rome, Italy

 

See: https://en.wikipedia.org/wiki/Artemisia_Gentileschi

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Renew Economy Wednesday, July 8, 2020 - 07:58 Source

Decarbonising Europe’s remaining coal-reliant countries could pave the way for a vital green recovery from the global COVID-19 pandemic.

The post Rapid coal phase-out could drive European green recovery: Bloomberg appeared first on RenewEconomy.

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MacroBusiness Wednesday, July 8, 2020 - 07:06 Source

According to the latest mortgage deferral data from the Australian Bankers Association (ABA), repayments on nearly 500,000 mortgages have been deferred for six month, totaling $175.6 billion: That equates to an average mortgage size of $350,000 that has had repayments deferred by Australia’s banks. On Tuesday, comparison site Mozo warned that many mortgage holders could

The post Brace for mass mortgage defaults appeared first on MacroBusiness.

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Poll Bludger Wednesday, July 8, 2020 - 06:41 Source

Various recent electoral news happenings, including a new poll that suggests the looming Northern Territory election will be, if nothing else, more competitive than the last.

The post Miscellany: NT poll, federal parliament seat entitlements, 2019 election book appeared first on The Poll Bludger.

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MacroBusiness Wednesday, July 8, 2020 - 00:10 Source

During yesterday’s press conference by Premier Daniel Andrews, where he locked down metropolitan Melbourne for another six weeks, he repeatedly blamed Victorians’ “bad behaviour” and “complacency” for causing the horrendous spike in COVID-19 infections: Not once during the press conference did Daniel Andrews concede his Government’s own incompetent handling of hotel quarantine, which was initially

The post Daniel Andrews must resign appeared first on MacroBusiness.

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MacroBusiness Wednesday, July 8, 2020 - 00:05 Source

Plans to fly 35,000 international students into Australian cities from late July have reportedly been abandoned due to the spike in COVID-19 cases in Victoria: The latest COVID-19 outbreak in Victoria has halted nascent plans to bring back nearly 35,000 international students from the end of the month. The Australian can reveal universities in NSW

The post COVID-19 spike scraps 35,000 international student arrivals appeared first on MacroBusiness.

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MacroBusiness Wednesday, July 8, 2020 - 00:03 Source

The weekly Roy Morgan / ANZ Consumer Confidence index has been released, which has fallen to an 8-week low amid the spike in Melbourne COVID-19 infections: Confidence fell a further 1% last week, taking it to an eight-week low. Although there was a marginal improvement in how people felt about their financial conditions, confidence in

The post Consumer confidence hits 8-week low amid COVID-19 spike appeared first on MacroBusiness.

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MacroBusiness Wednesday, July 8, 2020 - 00:01 Source

Global Macro / Markets / Investing: Goldman Sachs thinks the US recovery is running into trouble – CNN Tesla mocks shortsellers with sale of red satin shorts – Reuters U.S. Federal Reserve Ready To Buy Stocks – Yes Really. – Seeking Alpha Financial analyst Gary Shilling says the stock market could see a 1930s-like decline

The post Links 8 July 2020 appeared first on MacroBusiness.

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The Australian Independent Media Network Tuesday, July 7, 2020 - 19:30 Source

Edith Cowan University Media Release An increase in carbon dioxide emissions equivalent to 5 million cars a year has been caused by the loss of seagrass meadows around the Australian coastline since the 1950s. The stark finding was made possible by new modelling done by marine scientists at the Centre for Marine Ecosystems Research at…

The post New study sparks fresh call for seagrass preservation appeared first on The AIM Network.

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Your Democracy Tuesday, July 7, 2020 - 19:30 Source

dreaming

China Versus the World

An Emboldened Beijing Seeks to Consolidate Its Power

Beijing is ruthlessly expanding its power. But resistance is growing around the world -- and Germany will soon play a key role.

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Your Democracy Tuesday, July 7, 2020 - 16:53 Source

logo

Australia’s new wattle logo is a design, storytelling and timing failure

Last week, Australia's new logo was revealed: a golden wattle flower that many were quick to point out bears an uncanny resemblance to COVID-19. As Ash Ivory argues, it wasn't just a design failure, but also a failure to communicate the story behind the logo, and time its launch correctly.

 

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MacroBusiness Tuesday, July 7, 2020 - 16:30 Source

Sentiment swung back to hesitation this afternoon here in Asia with most bourses reversing course from its sharp rise to the start of the trading week, led by dual breakouts of coronavirus – both Tokyo and Victoria. The euphoria over the surge in Chinese shares is wearing off with US and Euro futures looking down

The post Macro Afternoon appeared first on MacroBusiness.

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The Australian Independent Media Network Tuesday, July 7, 2020 - 16:14 Source

If the COVID-19 pandemic has revealed one thing, it is the total inadequacy of the Australian Constitution. Like most people, I know a little about a lot of things and am slightly better informed than many in a few areas, while really expert in none! So I beg your tolerance for my presumption in writing…

The post Constitutional Failure appeared first on The AIM Network.

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MacroBusiness Tuesday, July 7, 2020 - 15:32 Source

Manchurian Dan Andrews has just given a press conference where he has re-introduced a stage 3 “stay at home” order to lock down Melbourne for six weeks from midnight Wednesday. School holidays have been extended for a week. Then senior school students will be permitted to go back to school, as will special school students.

The post “Unsustainably high” COVID-19 infections shut Melbourne appeared first on MacroBusiness.

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Renew Economy Tuesday, July 7, 2020 - 15:28 Source

Canva - flexibility Commercial building factory rooftop installed photovoltaic solar panels (1) - optimisedWestern Power to pilot new energy management platform for 'flexibility services', boosting renewables penetration and supporting network strength.

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Renew Economy Tuesday, July 7, 2020 - 15:22 Source

Six Tesla Megapacks with 15MWh combined capacity installed on UK grid in JV between Fotowatio Renewable Ventures and British renewables developer Harmony Energy.

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George Monbiot Tuesday, July 7, 2020 - 15:01 Source

Are Trump and Johnson paving the way for fascism, or for something different, but just as bad?

By George
Monbiot, published in the Guardian 3rd July 2020

The anger
that should be directed at billionaires is instead directed by them. Facing
inequality and exclusion, poor wages and insecure jobs, people are persuaded by
the newspapers billionaires own and the parties they fund to unleash their fury
on immigrants, Muslims, the EU and other “alien” forces.

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John Quiggin Tuesday, July 7, 2020 - 14:32 Source

Now that the World Health Organization has finally endorsed a recommendation for wearing masks in public, it’s time for Australia to do the same.

The most important case is that of public transport including air travel. Urban public transport is vital, but until we take the necessary steps on masks, we will be stuck with recommendations to avoid peak hour travel, guaranteeing a return to private cars and congestions

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MacroBusiness Tuesday, July 7, 2020 - 14:30 Source

by Chris Becker At its latest meeting the Reserve Bank has held its cash rate at the record 0.25% low. More to come… Reserve Bank Board Meeting – Monetary Policy Decision

The post RBA holds for July appeared first on MacroBusiness.

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