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MacroBusiness Thursday, December 2, 2021 - 17:00 Source

Hope and fear remain in equal parts across risk markets with Asian stock markets reflected of the divergent fortunes in overnight markets, although it seems Europe will start with a slip as Eurostoxx futures are lower. USD remains strong against all the majors except safe haven buying in Yen while the Australian dollar is back

The post Macro Afternoon appeared first on MacroBusiness.

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Your Democracy Thursday, December 2, 2021 - 16:09 Source

patch...patch...

If a deal isn’t struck before midnight on Friday, those payments will force Treasury Secretary Janet Yellen to impose another set of “emergency” spending measures -- on top of those that have been in place since October -- before the government’s ability to pay its bills is finally exhausted on or about December 15.

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New Politics Thursday, December 2, 2021 - 16:07 Source

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Renew Economy Thursday, December 2, 2021 - 15:30 Source

 Canva).

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Renew Economy Thursday, December 2, 2021 - 15:10 Source

Sebastapol Solar Farm NSW Beon

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MacroBusiness Thursday, December 2, 2021 - 14:30 Source

I can barely bring myself to write on this subject anymore. It is toxic beyond belief such that it only goes to prove how stupid is my fellow man rather than delivering any kind of justice. I give you the Liar’s latest gas robber baron atrocity: Big gas users have lost a long-running spat with

The post Liar delivers billions more to gas robber barons appeared first on MacroBusiness.

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The Australian Independent Media Network Thursday, December 2, 2021 - 14:28 Source

Interviewer – Good morning, we’re joined today by Tor Kingpoints, the only person available owing to all Liberal MPs flitting between the various going away parties for outgoing MPs.  TK – Good morning. Interviewer – So what’s the mood in the party room like.  TK – From what I hear, it’s very positive. The government…

The post Scotty Morrison’s Economic Bounce From The Printing Of Booklets appeared first on The AIM Network.

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Renew Economy Thursday, December 2, 2021 - 14:25 Source

Snowy Hydro's Valley gas-fired power station in Tasmania.

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Renew Economy Thursday, December 2, 2021 - 14:22 Source

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Renew Economy Thursday, December 2, 2021 - 14:06 Source

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MacroBusiness Thursday, December 2, 2021 - 14:00 Source

A new report from the Migrant Workers Centre claims that 65% of temporary visa holders have experienced wage theft: Based on interviews with 700 temporary visa holders in Australia, the report – released this week – found a clear link between workplace exploitation and temporary visa status… The report revealed many migrants were encouraged to

The post Australia: Home of wage-crushing immigration appeared first on MacroBusiness.

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The Australian Independent Media Network Thursday, December 2, 2021 - 13:37 Source

Another fault line has opened in the mining wars. In Serbia, resistance is gathering steam against various deals made between Belgrade and companies that risk environmental degradation and lingering spoliation. In this regard, the globe’s second largest metals and mining corporation, features prominently. Rio Tinto, bruised in reputation but determined in business, finds itself in…

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MacroBusiness Thursday, December 2, 2021 - 13:30 Source

When the Morrison Government’s HomeBuilder subsidy was announced last year, I argued that land developers would be the major beneficiaries since they would be able to inflate the cost of their house-and-land packages, while also clearing their inventory. Shortly afterwards, we witnessed developers mark-up the cost of house-and-land packages by the amount of the grant,

The post HomeBuilder lines land developers’ pockets appeared first on MacroBusiness.

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MacroBusiness Thursday, December 2, 2021 - 13:00 Source

Back in May, New Zealand’s Ardern Government vowed to end low-skilled, wage crushing migration via a “once-in-a generation” reset for New Zealand’s immigration system. It flagged a significantly smaller migration intake post-Covid that focuses on highly skilled, highly paid and productive migrants that fill genuine skills shortages. This means abolishing the current low-skilled system, which has

The post Jacinda Ardern backs up immigration dump truck appeared first on MacroBusiness.

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Renew Economy Thursday, December 2, 2021 - 12:54 Source

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Renew Economy Thursday, December 2, 2021 - 12:51 Source

Bango wind farm near Yass in New South Wales (CWP Renewables).

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MacroBusiness Thursday, December 2, 2021 - 12:30 Source

The Australian mortgage market fell again in October, according to new data released today by the Australian Bureau of Statistics (ABS). The total value of new mortgage commitments fell by a seasonally adjusted 2.5% in October 2021 to be up 32.2% year-on-year: As shown above, owner-occupiers had driven mortgage demand this cycle, whereas investor demand

The post Investor mortgage boom crowds out first home buyers appeared first on MacroBusiness.

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MacroBusiness Thursday, December 2, 2021 - 12:05 Source

In today’s investment webinar (LIVE 12:30pm AEDT), MB Fund’s Chief Strategist David Llewellyn Smith, Head of Investments Damien Klassen, and Senior Financial Advisor Sam Kerr sit down to discuss the recent falls in the Australian Dollar, gains in the US Dollar, Iron Ore price coming off, and ultimately answer the question, has the Australian dollar

The post MB Fund Podcast: Has the Australian Dollar bottomed? LIVE NOW appeared first on MacroBusiness.

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MacroBusiness Thursday, December 2, 2021 - 12:00 Source

The Liar goes on his merry way: Some regional Australian publishers that won multimillion-dollar government grants designed to protect local journalism jobs sacked staff and closed newsrooms before the ink was dry on their grant agreements. Guardian Australia can also reveal that the government conducted a federal seat analysis of the Public Interest News Gathering

The post Liar feeds media grants into Costello porktrough appeared first on MacroBusiness.

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MacroBusiness Thursday, December 2, 2021 - 11:30 Source

If you want bonafide evidence that property developers manipulate the market to ration supply and maximise their profits, look no further than ‘Highrise’ Harry Triguboff’s testimony today in The Australian: Harry Triguboff, Australia’s richest property developer, will make $400m from building and keeping apartments for investment this year… The documents showed a 15 per cent

The post Highrise Harry chokes supply to drive up profits appeared first on MacroBusiness.

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MacroBusiness Thursday, December 2, 2021 - 11:00 Source

The Herald-Sun has published a spruik piece on how Melbourne’s suburbs will enjoy a “jobs and high-rise population boom” following the construction of the Suburban Rail Loop: The Suburban Rail Loop project linking middle-ring suburbs will spark a jobs and high-rise population boom, helping to ease Melbourne’s “unsustainable” urban sprawl. Suburbs such as Cheltenham, Glen

The post Melbourne @9 million is a Bladerunner set appeared first on MacroBusiness.

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The Australian Independent Media Network Thursday, December 2, 2021 - 10:39 Source

Labor’s fear of getting wedged on national security has allowed Defence spending to skyrocket with little scrutiny and no opposition. Currently, the budget is planned to grow by a remarkable 87.4% over the coming decade – well above the election promise of 2% of GDP.  With $575 billion to spend over ten years, someone should…

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The Tally Room Thursday, December 2, 2021 - 10:30 Source

This is the last in my series of posts looking at various trends in NSW council elections.

I wrote recently about how poor turnout is for Western Australia’s voluntary council elections, but other states tend to have higher levels. Turnout for the 2016 Brisbane City Council election (the most recent I have data for) was slightly higher than NSW, at 83.7%. The 2020 Victorian council elections had an average turnout of 81.4%, apparently the “highest ever”.

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MacroBusiness Thursday, December 2, 2021 - 10:30 Source

The AFR View has taken a shot at critics of a ‘Big Australia’ (yours truly). Below are the The AFR’s key arguments alongside my rebuttal: Critics of a “big Australia” tend to dismiss such calls to reboot the nation’s immigration program as quickly as possible as simply returning to some population Ponzi scheme that benefits

The post AFR fails dismally in ‘Big Australia’ immigration defence appeared first on MacroBusiness.

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The Australian Independent Media Network Thursday, December 2, 2021 - 10:00 Source

For the second time this year, Prime Minister Scott Morrison, bereft of the will and the capacity to announce anything useful, has again declared he will go after “anonymous trolls” on social media. His cunning plan requires forcing tech giants who own the platforms to either identify the “trolls” so they can be pursued for defamation,…

The post Scott Morrison renews crackdown on social media users appeared first on The AIM Network.

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MacroBusiness Thursday, December 2, 2021 - 10:00 Source

The ferrous complex was mixed on December 1, 2021 as spot firmed, paper fell overnight and steel was up: The news remains terrible: China will boost domestic iron ore production by 30 per cent, significantly ramp up investments in overseas mines and strengthen scrap steel recycling under a plan designed to break Beijing’s dependency on

The post Daily iron ore price update (China’s Pilbara killer) appeared first on MacroBusiness.

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MacroBusiness Thursday, December 2, 2021 - 09:52 Source

Victoria has recorded another 1419 new COVID cases and 10 deaths: By comparison, NSW has recorded 271 COVID cases and zero deaths: As shown in the next chart, it was Victoria’s highest daily case count since 1 November: Active cases have also rebounded in Victoria, from a low of 9,420 on 23 November to 12,728

The post Victorian COVID cases highest in 31 days appeared first on MacroBusiness.

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MacroBusiness Thursday, December 2, 2021 - 09:30 Source

Equity markets diverged in fortune overnight with an overdue bounce on European shares not followed through on Wall Street as concerns over Fed Chair’s Powells hawkish stance tripped up risk taking, with 2% plus falls the result. The bond market was shaken up as well with the 10 year Treasury yield falling back to just

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Thursday, December 2, 2021 - 09:30 Source

Under the garbage formerly known as markets, Chinese property continues to deteriorate: The slump in home sales deepened for real-estate companies in November. Contract sales by the country’s top 100 developers plunged 38% from a year earlier to 751 billion yuan, sharper than the 32% drop in the previous month, according to preliminary data compiled by research firm

The post China property crash deepens appeared first on MacroBusiness.

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MacroBusiness Thursday, December 2, 2021 - 09:00 Source

It’s officially an exodus now and why not? Who wants to be associated with psychopathic lying, systematic molestation, bullying, rampant corruption, policy failure and a burning nation? It’s time to grab a sinecure and run: Former attorney-general Christian Porter and Health Minister Greg Hunt will leave politics at the next federal election, as the number

The post Liar Government falls apart appeared first on MacroBusiness.

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