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The Australian Independent Media Network Wednesday, August 21, 2019 - 14:10 Source

Days of beer and weed … Growing up in the 70’s … The following are a series of vignettes and cameos of where and with whom I grew up with in the 1970’s as a young man … some of them you may see as pure delinquency, others as that clumsy, clunky half-innocence of the…

The post Days of wine and lost horizons … appeared first on The AIM Network.

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The Australian Independent Media Network Wednesday, August 21, 2019 - 13:51 Source

We should all be cheering on some level. So much in this age of cricket favours the pampered bat over the stifled ball. The game of duration has suffered: five-day test matches are struggling before diminishing attention spans and ever shorter forms of the game. The tat of T20 has become the dull staple; the…

The post Fast Bowling, Concussions and Jofra Archer appeared first on The AIM Network.

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Renew Economy Wednesday, August 21, 2019 - 13:13 Source

Just when you thought Australia had hit the ceiling on absurd energy politics, federal Nationals MP Keith Pitt has unveiled a “bold” new plan for Queensland to quit the national grid.

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MacroBusiness Wednesday, August 21, 2019 - 13:00 Source

Stockland out with a shocker: The ASX should smash these dodgy charts. Where are the year on year comparisons? These tell us precisely nothing. Not to worry. Stockland has it all in hand with more corruption in plain sight, via the AFR: Chief executive Mark Steinert says settlement defaults spiked in the year to June

The post Stockland hits batphone to Scummo appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 21, 2019 - 12:45 Source

Because the last batch just two years ago worked so well, at Politico: In public, President Donald Trump and top White House officials keep extolling the strength of the U.S. economy. In private, they’re increasingly worrying about a global economic slowdown triggering a U.S. recession — and weighing options to shore up the economy ahead

The post Trump prepares more tax cuts appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 21, 2019 - 12:30 Source

Via News: Low-paid work “provides dignity” and is an “important first rung of the career ladder”, according to a document distributed to MPs calling for the minimum wage to be scrapped. The parliamentary research brief distributed by conservative think tank the Institute of Public Affairs (IPA) argues Australia’s minimum wage of $19.49 an hour is

The post Institute of Public Evil: Scrap minimum wage appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 21, 2019 - 12:15 Source

Via AFR today: In late February Peter Coates, Glencore’s non-executive director, appeared at an event in Sydney to make a rare intervention from a mining leader — a full-throated defence of the coal industry, whose very existence is under threat because of its role in global warming. …Six months later, the industry decided to take

The post Carbon capture won’t save coal appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 21, 2019 - 11:53 Source

There’s no iron ore crash. And another thing, there’s NO iron ore crash. So says the Australian dollar today as it rises today (as it does every single day in Asia for some reason): Bonds are bid again: As XJO is shellacked: The problem being that there is an ongoing iron ore crash: Which is going to

The post Australian dollar pretends there’s no iron ore crash appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 21, 2019 - 11:45 Source

More from Kate Griffiths and Danielle Wood at the Grattan Institute. Via the ABC: Each generation of Australians has enjoyed a better standard of living than the one that came before it. But today’s young Australians are in danger of falling behind. A new Grattan Institute report, Generation gap: ensuring a fair go for younger Australians, reveals

The post “Generational bargain is at breaking point” appeared first on MacroBusiness.

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Renew Economy Wednesday, August 21, 2019 - 11:32 Source

Close up of electrical tower and blue sky Renewable energy and smart grid - optimisedTransgrid’s Andrew Kingsmill on thinking big and renewable energy zones, and AEMO’s long term modelling to decarbonise the grid.

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MacroBusiness Wednesday, August 21, 2019 - 11:30 Source

Via the ABC: The percentage of Australians with basic hospital cover has dropped to its lowest level in more than a decade, as almost 30,000 people dumped their policies in just three months. The latest Australian Prudential Regulation Authority (APRA) data shows health premiums are still rising faster than wages, and out-of-pocket costs are continuing

The post Health insurance doom loop accelerates appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 21, 2019 - 11:05 Source

That’s the best we can say. Rescued by the powerhouses of TAS and ACT, via DEEWR: Hardly impressive. Full report.

The post Skilled vacancies stop falling appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 21, 2019 - 11:00 Source

Via Westpac: • The six month annualised growth rate in the Westpac– Melbourne Institute Leading Index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, rose from –0.09% in June to +0.05% in July. This is first above trend read since November last year. Further confirmation

The post Westpac leading index eases up appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 21, 2019 - 10:45 Source

Via Sunland Property Group: AV Jennings is more positive: You always have to be suspicious when they baseline their charts to January, not year on year. We have absolutely no way to tell if this is recovery or bust. Still, it would some sense to see a house and land bounce while apartments get worse

The post Sunland: No property recovery appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 21, 2019 - 10:45 Source

It’s not often that the people get their revenge in this god forsaken land but today they did, at News: George Pell has lost his bid for freedom with his appeal against child sex convictions dismissed in court this morning. By a majority of two to one, Victoria’s Supreme Court dismissed the appeal ordering Pell

The post Paedo Pell thrown back into clink appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 21, 2019 - 10:30 Source

Via Bloomie: The 70th anniversary of the People’s Republic of China, the name used by Communist Party leaders after they forced Chiang Kai-shek’s regime to retreat to Taiwan, will feature a military parade through Beijing personally inspected by President Xi Jinping. That has raised some fears that Xi will seek to get Hong Kong under

The post Hong Kong heading for October end game appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 21, 2019 - 10:15 Source

You’ve got to love the propagandists at the Property Council of Australia (PCA). After the co-author of the Shergold-Weir report into Australia’s building industry stated that she “wouldn’t buy a new apartment” on Monday’s Four Corners investigation, the chief executive of the PCA dismissed that there is a crisis, instead claiming that Australia’s building standards

The post Property Council polishes high-rise apartment crisis turd appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 21, 2019 - 10:00 Source

Good grief. Stop the kow towing, Paul: The past is a foreign country replete with false trails for the future. The two worst false trails for Australia in dealing with China are that the world is seeing a new Cold War, and that the emerging China threat will finish in a 20th-century style “victory and

The post Paul Kelly hands Australia to the Communist Party of China appeared first on MacroBusiness.

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xkcd.com Wednesday, August 21, 2019 - 10:00 Source

Controls are a little hard to figure out.

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MacroBusiness Wednesday, August 21, 2019 - 09:45 Source

Via Bill Evans at Westpac: The minutes of the Reserve Bank Board meeting for August have provided one significant surprise. In both the Governor’s decision statement following the meeting and the Statement on Monetary Policy( similar version), the conclusion included “the Board would continue to monitor developments in the labour market closely and adjust monetary

The post Bill Evans: Next rate cut in October appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 21, 2019 - 09:30 Source

By Chris Becker  The bounce is over! An ounce of disappointment is bringing a pound of pain to stock markets overnight, with both sides of the Atlantic closing at their session lows as Trump states he’s not ready to do a deal with the Chinese over their long running trade dispute. The USD was weak across

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 21, 2019 - 09:30 Source

Via The Australian: A confidential submission to the party’s post-election review from the Labor Environment ­Action Network, obtained by The Australian, expresses “anger and disappointment”, and also “grief”, over the party’s failure to win what was expected to be an unlosable election. The submission is brutal about policy, political and leadership failures. “Labor was unable

The post Labor still confused as hell about why it lost appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 21, 2019 - 09:15 Source

Via the FT: Pimco has pared its positions in government debt on fears that a breakthrough in US-China trade talks could trigger a violent sell-off, which would put an end to one of the biggest fixed income rallies in history. …“We’re a lot more defensive,” Mr Ivascyn said in an interview. “Even if we get a

The post PIMCO takes bond profits appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 21, 2019 - 09:00 Source

Texture from Reuters: “Despite the steel production restrictions in China, I think demand for iron ore, particularly for high-grade materials, is still at a healthy level,” the trader said. While the U.S.-Sino trade dispute has dampened global economic growth, it has not yet affected Chinese demand for BHP Group’s iron ore, Chief Executive Andrew Mackenzie

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

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MacroBusiness Wednesday, August 21, 2019 - 05:30 Source

DXY was down a little last night as EUR bounced. CNY is weak: The Australian dollar bounced with a stronger EUR: EMs more so: Gold too: And oil: But not metals: Nor miners: Or EM stocks: Or EM junk: All bonds were bid: As stocks fell again: All of the evening’s news flow was political.

The post Australian dollar hangs on as BoJo bullies Euro appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 21, 2019 - 00:10 Source

The gap between male and female superannuation savings have once again been labelled one of Australia’s greatest inequalities: Almost three out of four “Millennial” women – those born between 1980 and 2000 – told a survey of 1000 people the super system was not designed to support women. Only 25 per cent of women this

The post Superannuation is failing lower income earners appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 21, 2019 - 00:10 Source

Late last month, Fidelity International produced the below chart illustrating why many Australians believe their cost of living is rising despite the low official inflation rate: Mr Doyle analysed the cost of individual products included in CPI figures and found the cost of things that many people “need” has actually risen substantially. For example, the

The post Is Australia’s low inflation a myth? appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 21, 2019 - 00:05 Source

From Communist Party of China’s foreign ministry late yesterday: “It is totally understandable and reasonable for Chinese students and other Chinese citizens overseas to express indignation and opposition against such words and deeds that attempt to separate China and smear its image’” “Second, we also hope overseas Chinese can express their patriotism and protect themselves from

The post Are Chinese international students morphing into insurgents? appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 21, 2019 - 00:03 Source

Via Stuff: Jamie Cameron and Kylie Thomson have nailed the tiny house concept. The New Plymouth owners of NZ Tiny Homes have acquired a social media following of 26,000, which is why they have just sold their tiny house show home in three hours after posting it on Facebook – they have received 554 comments

The post Tiny house apocalypse mushrooms in New Zealand appeared first on MacroBusiness.

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MacroBusiness Wednesday, August 21, 2019 - 00:01 Source

Global Macro / Markets / Investing: Now Earning 278 Times More Than Average Worker, New Study Shows CEO Pay Has Grown More Than 1,000% Since 1978 – Rapid Rationale Recession risks rising. But do central banks have any tools? – CS Monitor Energy Cost of Energy: Fossil fuels won’t maintain conventional economic prosperity – Surplus

The post Links 21 August 2019 appeared first on MacroBusiness.

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