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MacroBusiness Monday, December 9, 2019 - 10:30 Source

Via Bill Evans of Westpac: The Australian economy grew by a disappointing 0.4% in the September quarter for annual growth of 1.7%. Of most concern is that this represents the fifth consecutive quarter where private final demand, which declined by 0.3% in September, either contracted or was flat. Within private final demand the most surprising

The post Bill Evans: Weak growth trashes RBA and Budget outlook appeared first on MacroBusiness.

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MacroBusiness Monday, December 9, 2019 - 10:15 Source

Inside Story’s Tim Colebatch has penned a ripping article on how Australia’s economy is forecast by the International Monetary Fund (IMF) to lag the world’s 12 largest developed nations on per capita GDP growth: …the International Monetary Fund is forecasting that in 2020 Australia will have the highest growth rate in GDP (gross domestic product)

The post IMF: Australian economy developed world’s worst appeared first on MacroBusiness.

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The Australian Independent Media Network Monday, December 9, 2019 - 10:00 Source

By RosemaryJ36   When I was growing up – in the olden days! – children respected their elders, who were expected to set a good example and act as role models. Clearly not always successful! People who were not well acquainted were much more formal than is now the case, and while an adult would call…

The post Respect has to be earned, Mr Morrison appeared first on The AIM Network.

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MacroBusiness Monday, December 9, 2019 - 10:00 Source

The Bank for International Settlements (BIS) has released its global household debt data for the June quarter, which again ranks Australians as the second most indebted in the world. The next table summarises the ratios of household debt to GDP: As you can see, Switzerland (131%) takes the gold medal in the global household debt

The post Aussies drowning in household debt appeared first on MacroBusiness.

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MacroBusiness Monday, December 9, 2019 - 09:40 Source

Josh Frydenberg sure is an acccomplished liar (or maybe be believes his own drivel). He writes today: The budget position has improved year-by-year, with our past three final budget outcomes $37bn better off than forecast. It is not luck that the budget is in balance for the first time in 11 years and we are

The post Frydenberg dances on grave of 300 dead Brazilians appeared first on MacroBusiness.

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MacroBusiness Monday, December 9, 2019 - 09:31 Source

More consumer warnings: The failure of car sales to turn is one strong indication of how conservative the consumer feels.

The post McMillan warns of car crash appeared first on MacroBusiness.

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MacroBusiness Monday, December 9, 2019 - 09:20 Source

Iroin ore charts for December 6, 2019: Spot up. Paper up more after US jobs. Steel has recovered some. The great untold story of this year’s iron ore boom continues with the release of Chinese import data over the weekend. Iron ore imports at 90.65mt, still down on a rolling annual basis: Reuters notes: The

The post Daily iron ore price update (untold story) appeared first on MacroBusiness.

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MacroBusiness Monday, December 9, 2019 - 09:00 Source

For what it is worth, via The Australian comes two primary voting: And two party preferred: I find it hard to believe goiven the burning and stalled economy but there you have it. If you believe it, the polls have diverged since Newspoll shifted methodology two months ago, and with all other polling houses bunkered

The post ScoMo surges ahead in Newspoll appeared first on MacroBusiness.

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MacroBusiness Monday, December 9, 2019 - 09:00 Source

By Chris Becker  Friday night saw the big event on the calendar – the latest US unemployment figures via the non-farm payrolls (NFP) – which set the tone for the rest of the month and indeed year for risk taking. The release easily beat expectations, driving the unemployment rate down and sending risk markets higher

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Monday, December 9, 2019 - 07:08 Source

DXY jumped Friday night: The Australian dollar was capped: CFTC shorts fell sharply to -36K: Gold was hit: Oil climbed: Metals were weak but copper took off: Miners gained: EM stocks too: Junk is cruising: Treasuries were sold: Bunds too: And Aussie: As stocks push towards more record highs: Westpac has the wrap: Event Wrap

The post Australian dollar shorts hosed by global green shoots appeared first on MacroBusiness.

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The Australian Independent Media Network Monday, December 9, 2019 - 01:29 Source

A massive pall of smoke cloaks NSW and shrouds Canberra as the state burns in a catastrophic mega-fire already the size of greater Sydney. Too big to put out, it could last for weeks. Or until rain falls. Meanwhile, Sydney itself joins the world’s top ten most polluted cities as air quality declines as a result of…

The post No emerging crisis so big the government can’t find a way to look past it. appeared first on The AIM Network.

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MacroBusiness Monday, December 9, 2019 - 00:10 Source

Last week’s national accounts data dump for the September quarter was another kick in the teeth for Australian households. Various measures of incomes revealed that Australian households have experienced near zero growth in real incomes over the past seven years. First, real per capita wages & salaries nationally are 3.7% below their June 2012 peak:

The post Claytons recession hits Australian households appeared first on MacroBusiness.

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MacroBusiness Monday, December 9, 2019 - 00:08 Source

Auction clearance rates retraced over the weekend, with the preliminary rate nationally falling to 74.5% from 78.9% last weekend: However, auction clearances were still way above the 41.0% recorded in the same weekend last year: Sydney’s preliminary clearance rate was 78.1%, down from 84.7% last weekend, but way above the 41.3% recorded in the same

The post Auction clearances hold in the 70s appeared first on MacroBusiness.

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MacroBusiness Monday, December 9, 2019 - 00:05 Source

Earlier this year, the Morrison Government announced that is would cut Australia’s non-humanitarian permanent migrant intake by 30,000 to 160,000 in order to “restrain population growth pressures in Sydney and Melbourne in particular”. However, while the non-humanitarian permanent migrant intake has been cut, net overseas migration (NOM) and net long-term arrivals continue to balloon, running

The post Temporary visa numbers balloon to record high appeared first on MacroBusiness.

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Renew Economy Monday, December 9, 2019 - 00:05 Source

solar farm construction retail electricity prices AEMC - optimisedLatest electricity price predictions from AEMC sees wind, solar and storage driving massive reductions in electricity prices over next three years.

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MacroBusiness Monday, December 9, 2019 - 00:01 Source

Global Macro / Markets / Investing: The Davos Manifesto: Towards a better kind of capitalism – WE Forum Millennials weren’t the only ones gutted by the recession. Gen X has never recovered. – VOX Digital Currencies to Soar in Coming Decade, Predicts Deutsche Bank – Be In Crypto What Kind of Capitalism Do We Want?

The post Links 9 December 2019 appeared first on MacroBusiness.

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Poll Bludger Sunday, December 8, 2019 - 22:44 Source

Another modest Coalition lead from the second poll in a new-look Newspoll series, which also finds Scott Morrison rated well for strength, vision and experience, but less well for arrogance and “caring for others”.

The post Newspoll: 52-48 to Coalition appeared first on The Poll Bludger.

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Your Democracy Sunday, December 8, 2019 - 21:58 Source

warren   Donald Trump has destroyed American leadership – I'll restore it:   Elizabeth Warren

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THE BLOT REPORT Sunday, December 8, 2019 - 20:49 Source
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The Australian Independent Media Network Sunday, December 8, 2019 - 14:49 Source

Writing about education reminds me of when Trump was elected. When I wrote something critical of The Donald, a number of people attacked me for being supportive of Hillary who – according to them – was responsible for just about every rotten decision that the United States has made over the past few years. I…

The post How Good Is Ignoring Just About Everything? OR Back To The Basics Again. appeared first on The AIM Network.

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Your Democracy Sunday, December 8, 2019 - 09:08 Source

farm   Last week (November 27th), at a press conference, Jeremy Corbyn unveiled dozens of leaked documents. Documents showing that Boris Johnson – and the Tories in general – are lying when they say there are no plans to open up the NHS to US trade.

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Renew Economy Sunday, December 8, 2019 - 06:01 Source

Taylor's emission cut plan - "to the last tonne" - reveals Coalition expects to reach 50% renewables by 2030, a target it had insisted was reckless.

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Renew Economy Sunday, December 8, 2019 - 06:01 Source

Taylor details emissions forecasts "to the last tonne" that reveal Coalition expects to reach 50% renewables target it had described as reckless.

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Renew Economy Sunday, December 8, 2019 - 06:01 Source

Taylor details emissions forecasts "to the last tonne" that reveal Coalition expects to reach 50% renewables target it had described as reckless.

The post Coalition embraces the 50% renewables target it said was “reckless” appeared first on RenewEconomy.

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The Australian Independent Media Network Saturday, December 7, 2019 - 19:25 Source

By Grumpy Geezer   There can be little doubt that Brother ScoMo believes that he will one day recoup his happy clapper tithes by literally ascending the gold pass holders’ escalators to his members only, prayers-by-the-spa, gay-free heaven. I, however, am eagerly awaiting his earthly due. Most Prime Ministers have a date with a dismal destiny whether it’s drowning in an angry surf…

The post What fate awaits PM Morrison? appeared first on The AIM Network.

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The Australian Independent Media Network Saturday, December 7, 2019 - 18:45 Source

Summit anniversaries are not usually this abysmally interesting. While those paying visits to Watford, England on the occasion of the seventieth anniversary of the North Atlantic Treaty Organisation are supposedly signatories to the same agreement, a casual glance would have suggested otherwise. This was a show of some bickering. France, never the most comfortable member,…

The post A Troubled Family: NATO turns 70 appeared first on The AIM Network.

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The Australian Independent Media Network Saturday, December 7, 2019 - 16:00 Source

By Dr George Venturini   On 10 August two eminent former U.N. officials, Ramesh Thakur, a former United Nations assistant secretary general, now emeritus professor in the Crawford School of Public Policy at Australian National University, and Richard Butler, a former Australian ambassador to the U.N. wrote about ‘Australia’s immoral behavior toward East Timor’ in The…

The post The spying on Timor-Leste case … et cetera (part 9) appeared first on The AIM Network.

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John Quiggin Saturday, December 7, 2019 - 14:37 Source

There have always been lots of people who saw nothing in politics except a bunch of windbags scoring points off each other. And a year or two back, there was a thing called anti-politics which attempted to give some kind of intellectual basis for this sentiment.

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Renew Economy Saturday, December 7, 2019 - 14:32 Source

The Mercedes-Benz electric EQC 400 delights on a test drive day, with plenty of zip, tech and comfort. Just don't go too heavy on the pedal.

The post Mercedes-Benz EQC 400 test drive: No holding back appeared first on RenewEconomy.

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The Australian Independent Media Network Saturday, December 7, 2019 - 11:05 Source

I can’t even sit on my own verandah anymore.  Surrounded by smoke, covered in ash, checking the RFS website regularly, ringing friends and family as fires approach so many of them. The land is parched and farmers are crying out for more water as we are warned to expect more mass fish kills.  Who takes…

The post Ensuring there will be no integrity appeared first on The AIM Network.

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