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MacroBusiness Wednesday, October 21, 2020 - 00:05 Source

More monetary drivel from the AFR yesterday: Considerations on the strength of the Australian dollar and the significant drag on the economy because of Victoria’s lockdown were two key factors that influenced decisions on further monetary easing bias, the minutes reveal. In the September minutes the RBA said: Members recognised that the substantial, coordinated and

The post What spooked the RBA? appeared first on MacroBusiness.

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MacroBusiness Wednesday, October 21, 2020 - 00:04 Source

The Guardian’s Greg Jericho has produced some nice charts showing the V-shaped recovery that has taken place for part-time workers (outside of Victoria), while full-time jobs have failed to launch: Hours worked per capita is one of the best ways to measure the health of the labour force. It also is good for measuring just

The post Australia faces a slow, part-time jobs recovery appeared first on MacroBusiness.

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MacroBusiness Wednesday, October 21, 2020 - 00:01 Source

Global Macro / Markets / Investing: Flippy, the $30,000 automated robot fast-food cook, is now for sale with ‘demand through the roof’ — see how it grills burgers and fries onion rings – Business Insider Country Rankings: World & Global Economy Rankings on Economic Freedom – Heritage The Great Financial Reset: IMF Managing Director Calls

The post Links 21 October 2020 appeared first on MacroBusiness.

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Renew Economy Tuesday, October 20, 2020 - 21:29 Source

ARENA-backed and ERM Power-led program will help 20 Queensland manufacturers boost industrial energy productivity, cut emissions and reduce costs.

The post ARENA backs program to help manufacturers use more solar, less gas appeared first on RenewEconomy.

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Cheeseburger Gothic Tuesday, October 20, 2020 - 19:40 Source

I should be posting this over at Patreon, but it’s not the sort rubbish I want cluttering up people’s email, so I’m writing my thoughts here instead. The nice thing about Substack is that even though it’s designed as an email first platform, they’ve generously built in this nice blogging option too.

So. A thing I like to I do occasionally is viciously troll writerly Twitter with my daily word counts, especially when I’m on a deadline roll. Three thousand words here. Four thousand there.

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The Australian Independent Media Network Tuesday, October 20, 2020 - 18:00 Source

By Ad astra   If you detest Dan Andrews and want him gone, stop reading now. What follows will not please you. As a citizen of Victoria I am incensed by the continual attacks on our premier. It’s not surprising that the State Opposition leader, the hapless Michael O’Brien, attacks Andrews in his usual censorious manner.…

The post Dan Andrews stares down the lynch mob appeared first on The AIM Network.

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Your Democracy Tuesday, October 20, 2020 - 17:19 Source

halloween

The most remarkable thing about the revelation of Gladys Berejiklian’s love life was that it was remarkable at all.

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MacroBusiness Tuesday, October 20, 2020 - 17:00 Source

Risk sentiment is very wobbly today here in Asia with Chinese shares just holding on to scratch sessions while the rest of the region sells off slightly in response to the harsher falls on Wall Street overnight. The USD is mixed against most of the majors although the Australian dollar remains on the ropes with

The post Macro Afternoon appeared first on MacroBusiness.

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Renew Economy Tuesday, October 20, 2020 - 14:59 Source

Liddell Power Station Hunter Valley NSW Australia - optimisedDepartment officials concede just 154MW needed to fill gap left by Liddell, as minister blames market for not investing in midst of threats of government intervention.

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MacroBusiness Tuesday, October 20, 2020 - 14:52 Source

Via Bill Evans at Westpac: The Minutes of the October Board meeting of the Reserve Bank of Australia confirm the key themes of Governor Lowe’s speech which was delivered on October 15. They indicate that the Board had effectively decided to ease policy at the October meeting. One reason for delaying the announcement would have

The post Bill Evans: RBA to cut and print! appeared first on MacroBusiness.

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MacroBusiness Tuesday, October 20, 2020 - 14:40 Source

NSW Premier Gladys Berejiklian says it will take at least a fortnight after Victoria’s lockdown restrictions are “substantially” eased before any decision on reopening the state’s border can be made. Meanwhile, the Tasmanian government has advised that NSW residents will be permitted to visit the island state from 2 November, assuming there is no surge

The post VIC and NSW border may reopen by mid-November appeared first on MacroBusiness.

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John Quiggin Tuesday, October 20, 2020 - 14:38 Source

In my article arguing that electricity from solar PV (and wind) could soon be too cheap to meter, I didn’t mention transmission networks. That was for space reasons.

The case for public investment is actually stronger for transmission than for generation. Electricity transmission lines have the same cost structure as renewables (low operational cost and long lives), if anything more so, meaning that the cost of transmission depends primarily on the need to secure a return to the capital invested.

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MacroBusiness Tuesday, October 20, 2020 - 14:20 Source

Real estate developers sold 1,154 housing lots across Melbourne and Geelong in August, according to residential land sales specialist Red23. This compares with more than 1,600 sales per month in June and July. However, median lot prices rose by 0.3 per cent to $321,000 in August. The fall in sales was attributed to buyers not

The post HomeBuilder subsidy misses Victoria appeared first on MacroBusiness.

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MacroBusiness Tuesday, October 20, 2020 - 14:00 Source

The latest polls do not offer much comfort to El Trumpo. Headline: Battleground states: Betting odds are volatile again: There usually a late swing back to the incumbent in every election. Nate Silver now sees a landslide: Indeed, the polls will need to be historically wrong for Trump to be re-elected: The senate remains tight:

The post Only an historic polling puke can save El Trumpo appeared first on MacroBusiness.

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MacroBusiness Tuesday, October 20, 2020 - 13:40 Source

Via The Fake Left: Australia’s largest companies would be unable to claim their share of $4bn to hire young workers under Greens amendments to significantly tighten eligibility for the jobmaker hiring credit. The Greens will seek to exclude companies that have recently declared a dividend or have underpaid workers through Senate amendments to the government bill

The post Fake Greens join JobRorter thieves pushback appeared first on MacroBusiness.

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Renew Economy Tuesday, October 20, 2020 - 13:36 Source

Victoria Energy Policy Centre (VEPC) releases version 1.0 of a National Energy Market (NEM) Data Dashboard, a free-to-use data portal.

The post A new look inside the workings of Australia’s National Electricity Market appeared first on RenewEconomy.

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MacroBusiness Tuesday, October 20, 2020 - 13:20 Source

The Australian Bureau of Statistics (ABS) today released its high frequency Weekly Payroll Jobs and Wages in Australia survey, which revealed that payroll jobs remain 4.1% below their pre-COVID mid-March level, whereas total wages remain 3.3% lower: In raw number terms, there were around 440,000 fewer payroll jobs in single touch payroll (STP) enabled businesses

The post Male workers bear brunt of COVID economic pain appeared first on MacroBusiness.

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MacroBusiness Tuesday, October 20, 2020 - 13:00 Source

Via the AFR: If Mathias Cormann is elected the next secretary-general of the OECD, he will have to get his head around one of the most complicated and important policy issues facing the global economy – the taxation of global technology giants. A lot of water has to flow under the bridge before Cormann is

The post Why the OECD should run screaming from Mathias Cormann appeared first on MacroBusiness.

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Renew Economy Tuesday, October 20, 2020 - 12:55 Source

AAP - Snowy Hydro Tumut 3 - optimisedSnowy Hydro reports fall in profits after year impacted by bushfires and lower energy prices, placing pressure on plans to expand its generation portfolio.

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MacroBusiness Tuesday, October 20, 2020 - 12:40 Source

What to do if suddenly some amateur is doing your job much better than you are? Should you take a long, hard look at yourself? Nah. Commission a mate to write up an op-ed defence of your own failure. At Domain comes Denis Muller, who is a Senior Research Fellow in the Centre for Advancing

The post Domain dials whaaaambulance as Credlin does its job better appeared first on MacroBusiness.

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MacroBusiness Tuesday, October 20, 2020 - 12:20 Source

Spending patterns across key sectors of the economy tracked sideways in September, according to the latest Commonwealth Bank Household Spending Intentions survey: Key Points: The Commonwealth Bank Household Spending Intentions series showed that spending largely tracked sideways in September –as the impacts of the Victoria stage 4 shutdowns remain evident. Both Home Buying and Motor

The post CBA: Spending flatlined in September appeared first on MacroBusiness.

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Renew Economy Tuesday, October 20, 2020 - 12:05 Source

tesla battery hornsdaleClean Energy Finance Corporation stresses continued focus on investing in increasing share of renewables in a modernised electricity grid.

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MacroBusiness Tuesday, October 20, 2020 - 12:00 Source

Last month, a report from the Australian National Audit Office (ANAO) slammed the Department of Infrastructure for purchasing the land from a billionaire family at 10 times its market value in what it calls a “significant and unusual transaction” related to the Western Sydney Airport. Now, Auditor-General Grant Hehir has told a Senate hearing that

The post Taxpayers defrauded in airport land deal appeared first on MacroBusiness.

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MacroBusiness Tuesday, October 20, 2020 - 11:48 Source

Australia recorded only 6 new COVID-19 infections overnight, with only 3 locally acquired: Victoria recorded only 1 new case, with its rate of infection collapsing: Melbourne’s 14-day average rate of infection has cratered to only 6.4, only marginally above the 5 required to ease draconian lockdowns: NSW’s local infection rate has also cratered: And both

The post Australian COVID-19 infections plunge appeared first on MacroBusiness.

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MacroBusiness Tuesday, October 20, 2020 - 11:40 Source

The latest Australian Homelessness Monitor, conducted by the University of New South Wales and the Centre for Social Impact, shows that the national homelessness rate is set to surge as short-term coronavirus and housing protections phase down: The most immediate concern now is an imminent surge in homelessness. This is likely in coming months as

The post Tidal wave of homelessness approaches Australia appeared first on MacroBusiness.

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Renew Economy Tuesday, October 20, 2020 - 11:28 Source

The Maryvale Energy from Waste (EfW) project has marked three important milestones in its plan to deliver a state-of-the-art EfW facility, located at the Maryvale Mill in the Latrobe Valley, Victoria, Australia.

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Your Democracy Tuesday, October 20, 2020 - 11:22 Source
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MacroBusiness Tuesday, October 20, 2020 - 11:20 Source

 The Coate inquiry into Melbourne’s failed hotel quarantine, which seeded the deadly COVID-19 second wave, has called an “extraordinary sitting” at 2pm today to examine contradictory evidence, changed witness testimony, and other chicanery that has arisen since submissions drew to a close early this month. In the above video, Sky News’ Peta Credlin forensically

The post Issues the Hotel Quarantine Inquiry must resolve appeared first on MacroBusiness.

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MacroBusiness Tuesday, October 20, 2020 - 11:00 Source

Finally, ten years late, we are in the global monetary and currency game: The Stance of Monetary Policy in a World of Numerous Tools Christopher Kent[*] Assistant Governor (Financial Markets) Address to the IFR Australia DCM Roundtable Webinar Online – 20 October 2020 Introduction In a world of unconventional policies, assessing the stance of monetary policy is

The post Reinvented RBA whacks Australian dollar again appeared first on MacroBusiness.

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MacroBusiness Tuesday, October 20, 2020 - 10:58 Source

The Australian dollar is heading for a retest of 70 cents: As yields decouple for the US: XJO has again shrugged off a weak Wall St lead and has spent the last week decoupling: It’s not Big Iron: Nor Big Gas: Nor Big Gold: It is Big Banks that are doing it: As they decouple

The post Can the ASX decouple from Wall St? appeared first on MacroBusiness.

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