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MacroBusiness Friday, August 7, 2020 - 00:12 Source

With Australia’s property market now declining, it’s an opportune time to compare this current budding correction with prior episodes. The below chart shows the various dwelling corrections over the past 30-plus years at the 5-city level, as measured by CoreLogic: As you can see, this bust is only in its infancy, with the property market

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MacroBusiness Friday, August 7, 2020 - 00:10 Source

Classical economics would prescribe decades of austerity to pay off the levels of government spending seen in the COVID-19 pandemic. But there’s another way, says modern monetary theorist, Dr Steven Hail, Research Scholar at the Global Institute for Sustainable Prosperity and Economics Lecturer at Australia’s University of Adelaide. Via Struggles from Below: A recent New

The post Time for the Green New Deal appeared first on MacroBusiness.

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MacroBusiness Friday, August 7, 2020 - 00:10 Source

In the week ended 6 August 2020, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, fell another 0.15%: It was the 13th consecutive weekly decline. Falls were recorded across the three biggest capitals: Quarterly dwelling values are falling, led by Melbourne: Annual price growth remains strong but continues

The post CoreLogic weekly house price update: 13th consecutive fall appeared first on MacroBusiness.

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MacroBusiness Friday, August 7, 2020 - 00:01 Source

Global Macro / Markets / Investing: Calls Grow to Break Up Facebook, Amazon for ‘Mob-Like’ Behavior, Monopoly Power – Democracy Now Bezos sells more than $3 billion in Amazon shares – CNBC Gold keeps its shine as investors shun dollar – FT As dollar slides, some investors fret about its status as world’s reserve currency

The post Links 7 August 2020 appeared first on MacroBusiness.

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The Australian Independent Media Network Thursday, August 6, 2020 - 23:27 Source

Over 20 years ago, Paul Kelly published ‘The End of Certainty’, about power, politics and business. The title would be totally appropriate, in a broader context, today! There no longer is a ‘normal – of that we can be certain! Those currently in power are wasting their time looking back into history for a pattern…

The post Living with uncertainty appeared first on The AIM Network.

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MacroBusiness Thursday, August 6, 2020 - 16:30 Source

by Chris Becker Outside Australia, Asian stock markets are in retreat mode after being mixed yesterday as confidence fades going into tomorrow night’s NFP print, with all risk going into undollars like Yuan, Bitcoin and Yen and of course precious metals. Gold is having another stab at the $2050USD per ounce level with silver again

The post Macro Afternoon appeared first on MacroBusiness.

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The Australian Independent Media Network Thursday, August 6, 2020 - 15:57 Source

Like many writers I require a Eureka moment of insight to write an essay for the AIM Network. This morning, 6/08/2020, I found inspiration in the words of Richard Cooke. In his long-form analysis of the fate of the arts, titled A unitary theory of cuts published in the August edition of The Monthly Cooke…

The post Flag, stockade or discovery: Australia’s Eureka dilemma appeared first on The AIM Network.

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Renew Economy Thursday, August 6, 2020 - 15:35 Source

Western Australia government launches study into feasibility of producing wind turbine components locally – a first for the state and a rarity for Australia.

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Renew Economy Thursday, August 6, 2020 - 15:28 Source

Owners and developers of half a dozen solar farms are scrambling to put in place contingency measures to deal with the collapse of a leading contracting group.

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The Australian Independent Media Network Thursday, August 6, 2020 - 15:25 Source

Now I heard something rather interesting recently. Somebody said that because of all the spending associated with the pandemic, it’d be impossible for the Liberals to deliver a budget surplus. I started trying to explain why this person was wrong and then I realised the futility of what I was doing: Just like all those times…

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Renew Economy Thursday, August 6, 2020 - 14:51 Source

rooftop solar suburb rebate victoria - optimisedSA energy minister gives reassurance that no mortarium on new rooftop solar is being considered, but warns curtailment may be necessary to avoid 'negative demand'.

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Renew Economy Thursday, August 6, 2020 - 14:48 Source

tesla model 3Electric and hybrid vehicle sales remain the only bright lights in slumping Australian auto industry, but remain a tiny part of the new car market.

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MacroBusiness Thursday, August 6, 2020 - 14:20 Source

Housing Minister Michael Sukkar told a conference that housing policy will be a key component of the federal government’s 2020 Budget on 6 October. Amongst other things, extending the First Home Loan Deposit Scheme and changes to the National Housing Infrastructure Facility are believed to be under consideration. However, Sukkar has reportedly ruled out funding

The post Coalition pursues wrong kind of housing stimulus appeared first on MacroBusiness.

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Your Democracy Thursday, August 6, 2020 - 14:12 Source
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MacroBusiness Thursday, August 6, 2020 - 14:00 Source

The Melbourne Institute has released research on parent’s soaring mental and financial stress arising from COVID-19: In mid-May, 56% of survey participants anticipated they would be personally impacted by the coronavirus for longer than six months. Eight weeks later, 67% now expect the effects to extend for longer than six months. Additionally, after a period

The post Parents mental and financial stress soars appeared first on MacroBusiness.

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MacroBusiness Thursday, August 6, 2020 - 13:40 Source

The hits keep coming for Daniel Andrews’ Victorian Government, with a 9News investigative report revealing that the Government scaled back contract tracing efforts just as the virus outbreak began from failed hotel quarantine: Evidence of Victoria’s contract tracing data is illustrated in the next chart showing the virus erupting in Victoria, while cases have remained

The post How the Victorian Government failed COVID-19 contract tracing appeared first on MacroBusiness.

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Renew Economy Thursday, August 6, 2020 - 13:35 Source

Fortescue Metals Group is gearing up to test whether it can run its Pilbara-based Christmas Creek iron ore mine on solar, alone, during the day.

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MacroBusiness Thursday, August 6, 2020 - 13:20 Source

Very, very strange times with capitalism all but suspended: ASIC data shows businesses still holding their breath and hoping for rescue. (Monthly data and weekly) #ausecon pic.twitter.com/2juFvfSiVW — ☔Jason Murphy (@jasemurphy) August 5, 2020

The post No business but no bankruptcies appeared first on MacroBusiness.

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MacroBusiness Thursday, August 6, 2020 - 13:18 Source

Via Scummo: Combined with the damage of the stage three lockdown, it will cost the nation $10 to $12bn overall. “This is a heavy blow, a heavy blow: 80 per cent of this economic cost is expected to be in the affected areas of Victoria, of around $6 billion to $7 billion in that state,”

The post Stop whining, start printing: VIC lockdown $12bn nothing burger appeared first on MacroBusiness.

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MacroBusiness Thursday, August 6, 2020 - 13:00 Source

We are in a strange political environment. Globally, trillions of dollars of government stimulus has been announced, deficit hawks have turned chicken, and formerly staunch opponents of government intervention have led the charge. How should investors assess each government stimulus announcement? One day the Australian government told us they had the right level of stimulus.

The post An investors guide to good government stimulus appeared first on MacroBusiness.

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MacroBusiness Thursday, August 6, 2020 - 12:45 Source

Victoria has recorded another 471 COVID-19 infections, down from yesterday’s record 725: There was another 8 deaths overnight in Victoria. NSW recorded only 12 new cases, the same as yesterday. It is also doing a far better job containing outbreaks and preventing community transmission: Victoria now has 7,449 active COVID-19 cases, 96% of the nation’s

The post VIC records another 471 COVID-19 infections vs NSW’s 12 appeared first on MacroBusiness.

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Renew Economy Thursday, August 6, 2020 - 12:30 Source

Infigen Energy Lake Bonney Wind farm - optimisedIberdrola successfully gains control of ASX-listed Infigen Energy, after its takeover offer is accepted by more than 50 per cent of shareholdings.

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Renew Economy Thursday, August 6, 2020 - 12:28 Source

BP's commitment to massive investment in renewables and EVs, and a huge fall in oil production, hailed as significant step for the oil industry.

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MacroBusiness Thursday, August 6, 2020 - 12:20 Source

A group of researchers have modelled the impact of COVID-19 on Australia’s future population. They find that Australia’s population will still swell to nearly 32 million people by 2040 even if immigration “plummets to zero in 2020-21 and takes eight years to return to the long-run average”: Our new modelling shows that under a worst-case scenario, Australia

The post Australia’s population to swell regardless of COVID-19 appeared first on MacroBusiness.

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The Australian Independent Media Network Thursday, August 6, 2020 - 12:17 Source

Silicon Valley continues to sprawl in influence, and its modern robber barons bestride the globe with a confidence verging on contempt. The technology giants that mark that region of California are praised as “virtuosos of ingenuity,” to use Steve Forbes’ words, “creating and supplying products and services that were once unimaginable and that have been…

The post Big Tech Antics: The Data Robber Barons Appear Before Congress appeared first on The AIM Network.

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MacroBusiness Thursday, August 6, 2020 - 12:00 Source

Join us as we discuss Technology’s ever-growing role in the world, the resulting deflation it will generate, and the major structural changes to the economy as we know it caused by this. We discuss these changes in industries it’s already happened in, as well as some likely candidates such as energy and automotive. We wrap

The post MB Fund Podcast: Will Technology Driven Deflation be ‘The Price of Tomorrow’? With Jeff Booth appeared first on MacroBusiness.

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MacroBusiness Thursday, August 6, 2020 - 11:40 Source

Good news here, via the AFR: The federal government is planning a series of housing initiatives for the October 6 federal budget, but has rejected growing calls to fund large-scale social housing projects, saying that was more of a state responsibility. Housing Minister Michael Sukkar told a closed conference last week that housing would be

The post Morrison out of ideas to save property prices appeared first on MacroBusiness.

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MacroBusiness Thursday, August 6, 2020 - 11:20 Source

With COVID-19 ripping through India: An Indian education agent has demanded that Australia open its border to international students: Navjot Singh, a migration agent based in the northern Indian state of Punjab says policymakers in Australia need to do a lot more than just granting post-study work visa rights to retain its current students. “Australia’s

The post International education agents demand Australia slay its elderly appeared first on MacroBusiness.

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MacroBusiness Thursday, August 6, 2020 - 11:00 Source

We begin, as always, with Labor and the once hawkish Richard Marles, at Domain: Opposition defence spokesman Richard Marles says a Labor government would not let backbenchers lead the debate on China, accusing the Morrison government of letting “fringe dwellers” damage Australia’s relationship with its biggest trading partner. Mr Marles hit out at government MPs

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MacroBusiness Thursday, August 6, 2020 - 10:50 Source

Though at least he covers it. Via Gottiboff: The dam wall holding commercial gas prices at ridiculous levels is starting to crack …The crack in wall was actually opened by ACCC chief Rod Sims late in 2017 when he approved a buying group, Eastern Energy Buyers Group, to aggregate orders from medium sized businesses up

The post Gotti wrong again on gas supply appeared first on MacroBusiness.

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