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MacroBusiness Tuesday, May 26, 2020 - 10:20 Source

For 15 years, the Australian union movement has stood by silently while Australia’s immigration program was more than doubled: The impacts on Australian workers has been terrible, with real wage growth stagnating for a decade: Chronic underemployment and labour underutilisation, which has obviously gotten much worse in the wake of the COVID-19 shock: And collapsing

The post When will the left stand up for Australian workers? appeared first on MacroBusiness.

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The Tally Room Tuesday, May 26, 2020 - 10:00 Source

The federal by-election for the seat of Eden-Monaro has been set for July 4, just one day after the Liberal Party announced their candidate.

The Liberal Party has preselected Fiona Kotvojs, the same candidate who ran in 2019. She will be facing off against Labor’s Kristy McBain, who was until recently the mayor of Bega Valley Shire.

Be sure to check out my guide to the Eden-Monaro by-election.

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MacroBusiness Tuesday, May 26, 2020 - 10:00 Source

You’ve got to hand it to the Swedes. They have responded in kind to the Chinese Communist Party’s (CCP) bullying by shutting down the Confucius Institutes operating throughout Sweden: The deteriorating bilateral ties between Sweden and China has resulted in closure of all Confucius Institutes in Sweden – making the Scandinavian country the first country

The post Australia must shut down its CCP-run Confucius Institutes appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 26, 2020 - 09:30 Source

The answer is yes but it needs to toughen up. At heart, Australian multiculturalism is a post-modern phenomenon. It is the ultimate manifestation of global psychology and the death of God. Only in a world in which secularism dominates can such a society exist. That is, AM is a figment of enlightenment thinking. It is

The post Can multiculturalism survive the new Cold War? appeared first on MacroBusiness.

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The Australian Independent Media Network Tuesday, May 26, 2020 - 09:30 Source

By 2353NM   A week or so ago, we discussed the union bashing disguised as concern for ‘essential workers’ from LNP MPs Andrew Laming and Peter Dutton. Unfortunately, the pitiful behaviours exhibited by these two LNP politicians is not reserved to the outer suburbs of Brisbane. It is on the record that the Premiers of Queensland, New…

The post Give us a break appeared first on The AIM Network.

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MacroBusiness Tuesday, May 26, 2020 - 09:00 Source

By Chris Becker  Even a closed Wall Street couldn’t keep the bulls away overnight with European markets surging as the prospect of more economies opening up post-COVID19 overshadowed any concerns over the Chinese/US tensions. Currency and bonds were relatively stable, although gold lost further ground while industrial commodities lifted with oil prices hitting another new

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 26, 2020 - 09:00 Source

Via Shane Oliver at AMP: Introduction There has been much debate about the short-term economic and investment impact of coronavirus – on economic activity, unemployment, interest rates, house prices, shares, etc. However, the magnitude of the shock means it will have medium to longer-term implications as well. Of course, there is a danger in placing

The post 10 long term implications of the virus appeared first on MacroBusiness.

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Poll Bludger Tuesday, May 26, 2020 - 07:19 Source

A major souring in Australians' attitudes to China but little change on coronavirus (at least since last week), according to the latest Essential poll.

The post Essential Research: coronavirus and attitudes to China appeared first on The Poll Bludger.

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MacroBusiness Tuesday, May 26, 2020 - 07:00 Source

We truly live in the real estate version of a narco state. Hot on the heels of the Property Council of Australia (PCA) and Housing Industry Association of Australia (HIA) both demanding a ramp-up in immigration to boost housing demand, the chief lobby for property developers – the Urban Development Institute of Australia (UDIA) –

The post Developer lobby joins immigration scab grab appeared first on MacroBusiness.

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Poll Bludger Tuesday, May 26, 2020 - 06:24 Source

A date set for the Eden-Monaro by-election, as the Liberals confirm their candidate and a GetUp! poll suggests local concern about climate changes remains at a high in the wake of the summer bushfires.

The post Eden-Monaro by-election: July 4 appeared first on The Poll Bludger.

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The Australian Independent Media Network Tuesday, May 26, 2020 - 04:11 Source

We have a Prime Minister who has no idea how to lead. In campaigning for the last election – It feels like eons ago, but it was just over a year! – Scott Morrison was here, there and everywhere. Seldom did he have other Ministers with him – he was the genuine one-man band. He…

The post The Hollow Man appeared first on The AIM Network.

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MacroBusiness Tuesday, May 26, 2020 - 00:10 Source

The Australian Prudential Regulatory Authority (APRA) has released its weekly update on the Morrison Government’s early release policy, which reveals that another 1,650 million funds were withdrawn in the week ending 17 May, with total withdrawals topping $10.6 billion: As shown above, just over 1.4 million applications have been paid averaging $7,322. Looking at the

The post Industry funds pummeled by early superannuation withdrawals appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 26, 2020 - 00:08 Source

Margaret Simons wrote an interesting article in the Saturday Paper explaining how the ending of the “reckless” boom in international students means that Australia’s empire building universities will have to shrink: It was Australian tertiary institutions that first sent recruiting agencies to China and India and began tapping the market… Changes to migration policy –

The post International student collapse to drive university consolidation appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 26, 2020 - 00:01 Source

Global Macro / Markets / Investing: The Coronavirus Is Exposing Wall Street’s Reckless Gamble on Bad Debt – New Yorker All the Reasons the Stock Market’s Gains Are Not to be Trusted – Barrons The world’s biggest investors are warning that the ‘fantasy’ rally will soon come crashing down – Business Insider Coronavirus stimulus will

The post Links 26 May 2020 appeared first on MacroBusiness.

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Your Democracy Monday, May 25, 2020 - 18:19 Source
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MacroBusiness Monday, May 25, 2020 - 16:34 Source

Despite the rising tensions with China and the West over Hong Kong and the and a long weekend for US markets, risk is going all in again in Asia, starting the week with a flourish outside of the Middle Kingdom. In mainland China, the Shanghai Composite is off a handful of points, still hovering above

The post Macro Afternoon appeared first on MacroBusiness.

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Renew Economy Monday, May 25, 2020 - 15:17 Source

Hanging Rock local Jim Robinson explains why he wants the 400MW Hills of Gold wind farm on his land and in his community.

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Renew Economy Monday, May 25, 2020 - 14:42 Source

Nyngan solar farm agl arena - optimisedNSW government wants to hear from wind, solar and storage projects interested in joining the state's first Renewable Energy Zone.

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Renew Economy Monday, May 25, 2020 - 14:27 Source

The departure of three big players from Australia's large scale solar market has opened up opportunities for new entrants such as Sterling and Wilson.

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MacroBusiness Monday, May 25, 2020 - 14:20 Source

Via the excellent Damien Boey at Credit Suisse: Missing $60 billion of stimulus. Just after the Australian Office of Financial Management (AOFM) revealed plans to lift bond issuance requirements to $130 billion, the Treasury and Australian Tax Office (ATO) revealed a significant shortfall in the size of the “Job Keeper” stimulus program. The Treasury and ATO are now

The post Credit Suisse: JobKeeper on the way out appeared first on MacroBusiness.

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Renew Economy Monday, May 25, 2020 - 14:11 Source

Queensland planning minister hopes to "turbine-charge" shift to renewables with Bill to fast-track development of $2bn wind farm on state forestry land.

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Renew Economy Monday, May 25, 2020 - 14:10 Source

vehicles-air-cars-traffic-pollution-1_0 salesAustralia risks becoming dumping ground for world's worst polluting vehicles because of absence of fuel and vehicle efficiency standards, according to BloombergNEF.

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MacroBusiness Monday, May 25, 2020 - 14:00 Source

Roy Morgan has released new data showing explosive growth across Australia’s subscription television market from all providers except Foxtel: As shown above, Foxtel only managed to grow its subscriber base by 63,000 households in the year to March 2020, which pales against: Netflix (+1.1 million); Stan (+953,000); Disney Plus (+2 million); Amazon Prime (+1 million);

The post Foxtel left floundering by streaming rivals appeared first on MacroBusiness.

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MacroBusiness Monday, May 25, 2020 - 13:40 Source

Vir CoreLogic’s leading indicators: Activity is still up a little year-on-year if weaker than a normal May period. Recall that this index does not include investors, a very big deal given falling rents. Listings are still very low:   This combination has driven auction clearances straight back up: This would normally be price bullish but

The post Owner-occupier mortgages still OK but… appeared first on MacroBusiness.

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Renew Economy Monday, May 25, 2020 - 13:33 Source

Hazelwood's eight smokestacks brought down by controlled explosions, as decommissioning of one of world's dirtiest coal plants reaches new milestone.

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MacroBusiness Monday, May 25, 2020 - 13:20 Source

Via the excellent Gareth Aird at CBA: The Q1 20 ABS capex survey, due on 28 May, will contain an updated estimate of 2020/21 capex plans.  Big downgrades are expected for both mining and non‑mining firms although estimating the magnitude of the downgrades is very challenging.  We suspect that there will be a big range

The post Capex preview appeared first on MacroBusiness.

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MacroBusiness Monday, May 25, 2020 - 13:00 Source

Last week, the Property Council of Australia (PCA) demanded a $50,000 new home boost to “kickstart the economy” by stimulating the construction of 50,000 dwellings, alongside a massive ramp-up in immigration. The Housing Industry Association (HIA) also demanded the government open borders to temporary migrants and international students to increase housing demand. Now, Master Builders Australia

The post Master Parasites demand $40,000 new home subsidy appeared first on MacroBusiness.

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Renew Economy Monday, May 25, 2020 - 12:58 Source

Sun Cable proposes 100MW/200MWh big battery for Darwin, to lower costs and make local grid more reliable, as precursor for world's biggest solar and storage project.

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Renew Economy Monday, May 25, 2020 - 12:46 Source

Huge spinning machines arrive in South Australia to herald the demise of the state's gas generators, and lay the pathway to 100 per cent renewables.

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MacroBusiness Monday, May 25, 2020 - 12:40 Source

Via the excellent Damien Boey at Credit suisse: Well that escalated quickly! Over the past few weeks, tensions have simmered among global leaders over the causes of and responsibility for the COVID-19 outbreak. Despite collective efforts to find a cure or vaccine for the virus, it seems that a comprehensive medical solution has not yet  been found, and politicians

The post Why markets don’t care about Hong Kong appeared first on MacroBusiness.

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