Blogotariat

The RBA has released new analysis on the JobKeeper scheme’s impact on unemployment, which found that JobKeeper reduced Australian’s unemployment by 700,000 over the first four months of the COVID-19 pandemic: We find that one in five employees who received JobKeeper (and, thus, remained employed) would not have remained employed during this period had it

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Citi says so at the AFR: “The RBA’s almost singular focus on the currency will lead to the inevitability of what always happens when rates fall—asset prices go up,” Citi’s Brendan Sproules and Thomas Strong said. “Particularly housing. “Certainly, the AFR’s Banking Summit gave credence to this view, with a broad acknowledgement that housing would

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Iron ore prices for November 23, 2020: Spot hit. Paper too. Steel has not updated. Empties are still trending lower: The AFR is all guff all of the time: “We’ve seen China’s steel demand comfortably at all-time highs for some months now,” said NAB head of commodities research Lachlan Shaw. “[But] what was missing was

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DXY firmed a little last night: The Australian dollar sagged: Gold broke support, oil rallied: Metals flamed out: Miners took off: EM stocks tried but failed: Junk was OK: Treasuries were sold: Stocks firmed modestly: Westpac has the wrap: Event Wrap US Markit PMIs rose to multi-year highs, against expectations for a fall. Manufacturing rose to

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Via China coal lobbyist and registered agent of foreign influence, Geoff Raby, at the AFR: Also the past week, we have also seen states in East Asia engaging and hedging with China…So the region continues to reshape itself to declining US engagement and China’s rising power. …Just as the Prime Minster was leaving Japan, the

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The oil and gas lobby is having itself on big time at the AFR: Nationally consistent policy, improved regulation and better tax rules could help unlock billions of dollars in investment in Australia’s oil and gas sector and create thousands of jobs, according to a new report. Industry lobby the Australian Petroleum Production and Exploration

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Global Macro / Markets / Investing: Four Reasons the Stay-at-Home Economy Is Here to Stay – WSJ “Oh, man. The unwinding of this bubble is going to be painful” – Economics professor warns of total crash the next 12 years – Mazech The World Bank warns The G20 from ignoring the debt problems – Guardian

The post Links 24 November 2020 appeared first on MacroBusiness.

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A crucial link in the food chain has been forgotten by the government, exposing us to a potential disaster after the Brexit transition.

By George Monbiot, published in the Guardian 18th November 2020

(Another extract from the climate chapter of my book-in-progress, Economic Consequences of the Pandemic)

The Covid-19 pandemic has accelerated a variety of social and economic trends, some beneficial and some harmful, that were already underway before 2020.

How will Western historians in 2050 remember 2020? In scenario 1, “The Great Panic, a lost generation”, I sketch my best guess. Scenario 2, “A job well done” is the one I imagine many current Western governments hope is told. Scenario 3, “The dark path of the Great Panic”, is one of my main fear scenarios.

An investigation into the behaviour of members of the Australian Defence Forcehas recently been completed and the report stemming from it has been handed to the government. The investigation was undertaken by the Inspector-General of the Australian Defence Force and was led by Major General Justice Paul Brereton1. From this, two things have become crystal clear: firstly, the armed forces and the government do not like the truth; and secondly, David McBride is being punished for revealing the truth.

Two years ago, the AirRail Melbourne consortium – which includes the owner of Southern Cross Station and part owner of Melbourne Airport, IFM Investors – offered to contribute $5 billion (on top of the state and federal government’s $10 billion) to own and operate the Airport Rail Link tunnel, with the service slated to “deliver a

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APRA has published its early superannuation release data for the week ended 15 November, which revealed that only $151.4 million was withdrawn from Australia’s superannuation system, taking the total amount withdrawn early to $35.1 billion: According to APRA: Over the week to 15 November, superannuation funds made payments to 21,000 members, bringing the total number

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