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MacroBusiness Tuesday, August 14, 2018 - 12:22 Source

Amusing stuff today as the ASX decouples from Planet Earth. The AUD is at the lows: Bonds are flat: ASX to the moon as the emerging word falls apart: Dalian is holding: Big Iron is up as Chinese growth slides away: Big Gas too: Big Gold is dead cat bouncing: Big Mortgage is loving the

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MacroBusiness Tuesday, August 14, 2018 - 12:00 Source

By Leith van Onselen Of all the idiotic ‘awards’ handed out, The Economist’s ‘Most Livable City’ must surely rank near the top. That being said, Melbourne has finally lost its title to Vienna: The two cities are now separated by 0.7 of a percentage point in the rankings, with Vienna scoring a near-ideal 99.1 out

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Renew Economy Tuesday, August 14, 2018 - 11:56 Source

 Hyundai / PatchworkNorwegian EV drivers have snapped up the first shipment of Hyundai's all-electric CUV, with pre-orders reportedly capped at 20,000.

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Renew Economy Tuesday, August 14, 2018 - 11:56 Source

 Hyundai / PatchworkNorwegian EV drivers have snapped up the first shipment of Hyundai's all-electric CUV, with pre-orders reportedly capped at 20,000.

The post Hyundai exports first Kona electric CUVs to Norway, and they are already all sold out appeared first on RenewEconomy.

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Renew Economy Tuesday, August 14, 2018 - 11:56 Source

Norwegian EV drivers have snapped up the first shipment of Hyundai's all-electric CUV, with pre-orders reportedly capped at 20,000.

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MacroBusiness Tuesday, August 14, 2018 - 11:30 Source

By Leith van Onselen Earlier this year, the poster boy for the globalist ‘Fake Left’, Greg Jericho, penned a drivelling article in The Guardian labelling any discussion of Australia’s reckless ‘Big Australia’ mass immigration program as ‘racist’: Immigration – because there are many desperate to hate – must be treated with extreme care by politicians

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MacroBusiness Tuesday, August 14, 2018 - 11:15 Source

Vai Damien Booey at Credit Suisse: Europe goes “cold Turkey” We have just published an article explaining why we are concerned about contagion risks from Turkey (attached). We argue that Europe is going “cold Turkey” in two respects: 1.    The ECB has warned us about banks’ EUR exposure to Turkey. 2.    The ECB still plans to go ahead with

The post Turkey to smash commodity prices appeared first on MacroBusiness.

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Renew Economy Tuesday, August 14, 2018 - 11:09 Source

Government confirms that there was no detailed modelling for NEG, raising further questions – and outrage – over its claimed benefits.

The post Outrage over lack of NEG modelling as government regurgitates old release appeared first on RenewEconomy.

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Renew Economy Tuesday, August 14, 2018 - 11:09 Source

Government confirms that there was no detailed modelling for NEG, raising further questions – and outrage – over its claimed benefits.

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MacroBusiness Tuesday, August 14, 2018 - 11:00 Source

By Leith van Onselen The Turnbull Government has passed legislation to make university students repay their loans at a lower threshold has passed the Senate. From News.com.au: University students will have to pay back student loans when their earnings hit $45,000 under draft laws which have cleared the Senate. How much students can borrow from

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MacroBusiness Tuesday, August 14, 2018 - 10:45 Source

By Leith van Onselen While ordinary Australian workers in the private sector are being put through the wringer, the number of people employed by the Reserve Bank of Australia (RBA) has increased from 800 in 2007 to almost 1,400, whereas the RBA governor’s total remuneration package in 2016-17 was $931,000, with around 150 other senior

The post Fat and lazy RBA needs razor treatment appeared first on MacroBusiness.

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MacroBusiness Tuesday, August 14, 2018 - 10:30 Source

Via the Australian Industry Group: Wage theft inquiry headed into dangerous ground Statement from Australian Industry Group Queensland Head, Shane Rodgers The Queensland Parliament’s inquiry into what it terms “wage theft” risks turning mathematical errors into criminal offences, Australian Industry Group Queensland Head Shane Rodgers said today. The Parliamentary inquiry, which begins public hearings this

The post MB forces immigration-conflicted Willox into retreat appeared first on MacroBusiness.

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MacroBusiness Tuesday, August 14, 2018 - 10:15 Source

I’ve been having this conversation regularly lately. Gold is falling and breaking support just as global markets tilt towards a possible risk accident: Once again gold is proving that it is the absolute opposite of a cyclical safe haven. When markets crash so does it. Notice that exactly the same thing during the GFC, even

The post Gold again proves disastrous as a risk hedge appeared first on MacroBusiness.

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Renew Economy Tuesday, August 14, 2018 - 10:04 Source

Woolnorth owns and operates three wind farms leveraging Tasmania’s world class wind resources to generate approximately 9 percent of Tasmania’s electricity needs.

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Renew Economy Tuesday, August 14, 2018 - 10:04 Source

Woolnorth owns and operates three wind farms leveraging Tasmania’s world class wind resources to generate approximately 9 percent of Tasmania’s electricity needs.

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MacroBusiness Tuesday, August 14, 2018 - 10:00 Source

By Leith van Onselen Acadata has released its latest house price results for the UK, which shows that values in London and the UK have continued to fall: On a monthly basis, prices fell again in July, for the fifth month in succession: down 0.2%, leaving the average house price at £302,251. The figure is

The post UK house prices fall for 5th consecutive month appeared first on MacroBusiness.

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MacroBusiness Tuesday, August 14, 2018 - 09:45 Source

Has a political party ever torn itself apart so spectacularly as the Coalition on energy? The AFR says the NEG will pass the party room: The Coalition party room is expected to endorse the National Energy Guarantee on Tuesday despite last ditch efforts by former prime minister Tony Abbott and former Nationals leader Barnaby Joyce to torpedo the policy.

The post Coalition energy scab grab intensifies appeared first on MacroBusiness.

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The Australian Independent Media Network Tuesday, August 14, 2018 - 09:45 Source

According to the Liberal letterbox, Sharri Markson, “The Turnbull government will underwrite multi-billion dollar investments to build new coal-fired power stations…The Daily Telegraph understands Mr Turnbull will announce his support for the ACCC recommendation at [today’s] party room meeting.” Except the ACCC didn’t recommend that at all Sharri. Here is what they actually said: “The…

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MacroBusiness Tuesday, August 14, 2018 - 09:30 Source

By Leith van Onselen While the Turnbull Government continues to pursue suicidal company tax cuts on the faux promise of boosting ‘jobs and growth’, New Zealand’s Tax Working Group (TWG) – which is due to release its interim report to New Zealand’s Labour Government in the next month – has all but rejected the idea.

The post Clever Kiwis to reject company tax cuts appeared first on MacroBusiness.

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The Australian Independent Media Network Tuesday, August 14, 2018 - 09:30 Source

Australia is still having the discussion on the benefits of waste reduction and until recently it was considered economically rational to send semi-trailers full of household and business waste from New South Wales to Queensland to avoid disposal fees. In other parts of the world (even Trump’s deepest darkest America) there are companies that demonstrate that minimising…

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MacroBusiness Tuesday, August 14, 2018 - 09:15 Source

By Leith van Onselen I labelled the $22 billion National Disability Insurance Scheme (NDIS) a “bureaucratic nightmare” citing my family’s own personal experience with our 10-year old autistic son. Despite being diagnosed in the “severe range” of autism spectrum disorder, unable to converse or read, and attending a special school, my son was denied funding for

The post NDIS to leave most vulnerable behind appeared first on MacroBusiness.

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MacroBusiness Tuesday, August 14, 2018 - 09:00 Source

I’ve waded through Matt Comyn’s presentation of CBA’s results and some things struck me as, bluntly, lacking clarity. There’s no doubting CBA has a valuable franchise inherited mainly from its government owned history and its does have leading tech in delivering customer outcomes, but when it comes to the capital and liability side of the

The post Australian banks’ giant mortgage capital rort appeared first on MacroBusiness.

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MacroBusiness Tuesday, August 14, 2018 - 09:00 Source

By Chris Becker All eyes remain on Turkey as its failed currency and inability to repay foreign debts continues to push European bank stocks lower and USD higher against everything else. Gold also broke down overnight, falling to a near 18 month low, finally catching up to lower undollar meme. US stocks pulled back as

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MacroBusiness Tuesday, August 14, 2018 - 07:14 Source

The beauty of politics is that it is so predictable. The phrase “always back self-interest” is a pure truth in the political arena. Hence this is no surprise at all, via the AFR: The federal government is no longer committing to take any unlegislated company tax cuts to the next election. Finance Minister Mathias Cormann,

The post Zombie Turnbull chops company tax cuts, immigration next appeared first on MacroBusiness.

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MacroBusiness Tuesday, August 14, 2018 - 06:54 Source

DXY was soft last night but EUR and CNY crumbled anyway: AUD fell to new two year lows but ended roughly where it started versus DMs: It was strong against EMs: Gold is once again illustrating that it is useless in a market crisis: Oil is fading: As are base metals: And big miners: EM

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Poll Bludger Tuesday, August 14, 2018 - 06:18 Source

Essential records a widening of Labor's lead and improved approval ratings for Bill Shorten.

The post Essential Research: 52-48 to Labor appeared first on The Poll Bludger.

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MacroBusiness Tuesday, August 14, 2018 - 00:20 Source

By Leith van Onselen With the recent release of the ABS’ lending finance data for June, it’s an opportune time to once again chart how capital city house prices are tracking against both investor and total housing finance. As readers no doubt already know, housing finance has historically been strongly correlated with values, therefore it

The post Crashing investor mortgages ominous for house prices appeared first on MacroBusiness.

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MacroBusiness Tuesday, August 14, 2018 - 00:15 Source

By Leith van Onselen I noted last month how the Australian Bureau of Statistics (ABS) appeared to have joined the push for a ‘Big Australia’ of 40 million mid-century, publishing the following propaganda on its Facebook page: At the time I noted that the ABS had conveniently failed to mention the fact that Australia is

The post Politicised ABS spouts more immigration propaganda appeared first on MacroBusiness.

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MacroBusiness Tuesday, August 14, 2018 - 00:10 Source

By Leith van Onselen The latest Roy Morgan Research (RMR) unemployment estimate for July registered a 1.3% increase in the unemployment rate over the month (to 10.0%) and a 0.6% increase over the year, with part-time employment also growing faster than full-time: Below are the key points from the release: 12,021,000 Australians were employed in

The post Roy Morgan unemployment hits 10% appeared first on MacroBusiness.

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MacroBusiness Tuesday, August 14, 2018 - 00:05 Source

Iron ore prices for August 13, 2018: The stimulus party rolls on, largely confined to futures markets. This is still not inconsistent with seasonal patterns, especially so since the Winter shutdowns bring forward demand. Rebar inventories are still falling at a decent clip even if well above last year. My outlook remains unchanged. Overnight Chinese

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