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Prosper Australia Wednesday, October 16, 2019 - 13:09 Source

Cross posted from The Australian, former EJ Craigie winner Adam Creighton writes up our recent Designing the Transition: Stamp Duty to Land Tax report. Stamp duty is much better than land tax if you stand to inherit a mansion They reckon it is political suicide: that’s the best argument against dumping punishingly high rates of […]

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MacroBusiness Wednesday, October 16, 2019 - 13:00 Source

Australia’s chief statistician, David Kalisch, claims that a decade of funding cuts has hampered the Australian Bureau of Statistics’ (ABS) capability, and warns that funding cuts would result in less accurate statistical reporting: The cumulative cuts, at a time when demand for information and data was growing sharply, were a “conundrum” for the ABS which

The post ABS boss warns further funding cuts will dumben economy appeared first on MacroBusiness.

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MacroBusiness Wednesday, October 16, 2019 - 12:40 Source

The World Economic Forum just posted its most recent Global Competitiveness index. I don’t agree with some of the underlying measurements, but I find the depth and transparency into their process excellent – if you are wondering how they got to a score then the answer is probably available. Very useful when looking at which

The post Australia sinks further in global competitiveness rankings appeared first on MacroBusiness.

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MacroBusiness Wednesday, October 16, 2019 - 12:20 Source

And so it goes. via NT News: THE operators of Darwin’s first gas plant, ConocoPhillips have sold the LNG plant and its North Australia assets for more than $2 billion. Oil and gas producer Santos says it will pay $2.04 billion for ConocoPhillips’s operating interests in Darwin LNG, Bayu-Undan, Barossa and Poseidon gas assets. …Santos

The post Gas cartel trades assets like footy cards as energy disaster builds appeared first on MacroBusiness.

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MacroBusiness Wednesday, October 16, 2019 - 12:00 Source

Pulling a LeBron James might enter the lexicon as something along the lines of: “as, of, or pertaining to, selling out liberal values for a Chinese Communist Party buck”. Sinocism has the links: Charania: Inside what went on among Nets and Lakers players on the ground in China amid the NBA-China conflict – The Athletic $$

The post Australian dollar whacked as US Congress hoses LeBron James appeared first on MacroBusiness.

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MacroBusiness Wednesday, October 16, 2019 - 11:45 Source

The Minister for Population, Cities and Urban Infrastructure, Alan Tudge, appeared on Peta Credlin’s Sky News program, whereby he played down angst over Australia’s ballooning population by claiming that Australia’s population growth rate is currently 1.6%, “the average since federation”. Technically, Tudge is correct in his claim, as illustrated in the next chart: However, by

The post Memo to Tudge: “Average population growth” hits 456m in 2200 appeared first on MacroBusiness.

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MacroBusiness Wednesday, October 16, 2019 - 11:30 Source

Via the ABC: Owners and residents of Sydney’s Mascot Towers have been advised existing cracks in the building have widened and new cracking has developed requiring urgent remediation works to avoid a “structural failure”. In the latest update on the troubled apartment block, law firm Mills Oakley, acting on behalf of the owners corporation, said

The post Is Mascot Towers going to collapse? appeared first on MacroBusiness.

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Renew Economy Wednesday, October 16, 2019 - 11:22 Source

Western Power unveils network of the future, where thousands of regional customers are taken off grid and given renewables and storage, saving money and boosting reliability.

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MacroBusiness Wednesday, October 16, 2019 - 11:15 Source

Via CBA today: Australia’s key commodity prices to ease from here ■ We see Australia’s key commodity prices moving lower from here. ■ But despite lower commodity prices, Australia’s external sector should have another good year as export volumes continue to lift and the lower Australian dollar boosts our competitiveness. ■ An expected decline in

The post CBA: Iron ore to hammer nominal GDP, Budget appeared first on MacroBusiness.

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MacroBusiness Wednesday, October 16, 2019 - 11:00 Source

Via UBS: Brexit crossroads: Possible paths ahead and their impacts on assets Things have been very fluid in the last 24 hours, but we believe markets still ascribe a low probability to a Brexit deal by end-October. Beyond that may loom new negotiations and elections, potentially a final turn in the Brexit saga. The consequences

The post UBS quantifies Brexit appeared first on MacroBusiness.

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xkcd.com Wednesday, October 16, 2019 - 11:00 Source

"So what's dark energy?" "Cosmologists and the FDA are both trying very hard to find out."

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MacroBusiness Wednesday, October 16, 2019 - 10:49 Source

Via Westpac: The growth rate is now materially below trend and is signalling that growth through the first half of 2020 is likely to remain below trend. That profile is broadly consistent with Westpac’s forecasts which have growth in the first half of 2020 at an annualised pace of 2.4% consistent with the overall growth

The post Westpac leading index plunges appeared first on MacroBusiness.

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MacroBusiness Wednesday, October 16, 2019 - 10:45 Source

Last month, the ACT Legislative Assembly passed laws legalising the recreational use of marijuana, which will allow residents aged over 18 to possess up to 50 grams and grow two plants from next year. This has garnered a strong backlash from the federal government, which labelled the legislation “dangerous” and has threatened to block the

The post Political stoush brews over ACT’s marijuana legalisation appeared first on MacroBusiness.

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The Australian Independent Media Network Wednesday, October 16, 2019 - 10:44 Source

Glenn Davies, the Anglican Archbishop of Sydney and Synod president, has told homosexual people that they should abandon the church. “My own view is that if people wish to change the doctrine of our church, they should start a new church or join a church more aligned to their views – but do not ruin…

The post Instead of excluding homosexuals, the church should exclude homophobes appeared first on The AIM Network.

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Renew Economy Wednesday, October 16, 2019 - 10:42 Source

From 2021, many of Germany’s pioneer wind turbines, solar PV installations and biogas plants will stop receiving fixed feed-in tariffs. What happens next?

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The Australian Independent Media Network Wednesday, October 16, 2019 - 10:39 Source

By Grumpy Geezer   Yesterday, upon the stair, I met a man who wasn’t there! He wasn’t there again today, Oh how I wish he’d go away! When I came home last night at three, The man was waiting there for me But when I looked around the hall, I couldn’t see him there at all!…

The post The Antichrist is a potato appeared first on The AIM Network.

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MacroBusiness Wednesday, October 16, 2019 - 10:30 Source

Via The Australian: Australian fund managers have sent a strong signal to private equity players about the quality of companies looking to list on the ASX, after Latitude Financial ­failed to secure enough support for its $3.2bn IPO in what was to be the largest float of the year. The IPO for the non-bank lender

The post Zombie consumer eats Latitude IPOs brains appeared first on MacroBusiness.

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Renew Economy Wednesday, October 16, 2019 - 10:18 Source

Narrabri csg wilderness society fracking- Anti coal seam gas protest signs - optimisedWilderness Society releases damning economic assessment of Narrabri CSG project that suggests it will do little to address the Australian gas price crisis

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Renew Economy Wednesday, October 16, 2019 - 10:18 Source

Narrabri csg wilderness society fracking- Anti coal seam gas protest signs - optimisedWilderness Society releases damning economic assessment of Narrabri CSG project that suggests it will do little to address the Australian gas price crisis

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MacroBusiness Wednesday, October 16, 2019 - 10:15 Source

Via RIO: Pilbara operations Third quarter production of 87.3 million tonnes (Rio Tinto share 72.2 million tonnes) was 6% higher than the same quarter of 2018 and 10% higher than the previous quarter. This reflects a solid performance in the mines, with actions progressing as planned. Our increased focus on waste material movement and pit

The post RIO opens iron ore flood gates appeared first on MacroBusiness.

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MacroBusiness Wednesday, October 16, 2019 - 10:00 Source

CoreLogic has released its quarterly rental review, which reveals that rents fell for the third consecutive month, driven by sharp falls across Sydney: In fact, the only capital city to record strong rental growth in the year to September was Hobart, where rents rose by 6.2%. Hobart is also the rental growth leader over the

The post Aussie rents continue to plummet appeared first on MacroBusiness.

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The Tally Room Wednesday, October 16, 2019 - 10:00 Source

The Queensland government has dropped the key piece of its council reform package, by abandoning plans to change the council voting system, a change that would have likely boosted Labor’s chances of taking control of the City of Brisbane.

The original package included a variety of other minor reforms, but included two changes to the voting system: introducing proportional representation for multi-member electorates, and requiring full preferencing for all council elections.

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MacroBusiness Wednesday, October 16, 2019 - 09:45 Source

Via the Herald Sun: Embattled Liberal MP Gladys Liu held a party for the volunteers on her successful campaign for the seat of Chisholm at a building owned by a property developer who once said Australia “couldn’t survive” without Chinese migrants. …The revelations came as Ms Liu refused to outline the complete list of organisations

The post “Double agent” Gladys Liu stonewalls national interest questions appeared first on MacroBusiness.

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MacroBusiness Wednesday, October 16, 2019 - 09:30 Source

Not that we think GDP matters much but given it’s the accepted benchmark of success then let’s give ourselves a fail, from the IMF today: We’re not going to rebound like that. No way. Domestic demand is toast. My best guess is we’ll look more like Canada: 2019 1.5%, 2020 1.8%, 2024 1.7%. Why? There

The post Australia’s lost decade is about to turn into a lost generation appeared first on MacroBusiness.

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MacroBusiness Wednesday, October 16, 2019 - 09:15 Source

Not disastrous but still soft for sure. Chinese new yuan loans were out for September with bank loans at 1.68tr yuan and total social financing at 2.27tr yuan: The shadow banking share continues to slowly bleed lower: Three month moving average loan growth fell sharply to 10%: The rolling annual stalled: M2 lifted a little

The post Chinese credit remains soft appeared first on MacroBusiness.

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Renew Economy Wednesday, October 16, 2019 - 09:06 Source

 Erwin Meyer, Stephen William Mason, Emre Husman, McHoffaAn all-electric, zero emissions, battle taxi, or just cyber-punk: Auto industry gets ready for unveling of the Tesla ute.

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Renew Economy Wednesday, October 16, 2019 - 09:06 Source

porsche taycanPorsche ups its game, releasing a stunning third Taycan model that will not only be cheaper but also offer longer driving range.

The post Porsche stuns with cheaper and longer range new electric Taycan appeared first on RenewEconomy.

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Renew Economy Wednesday, October 16, 2019 - 09:04 Source

climate emergency canberra parliament house scott morrison - optimisedMorrison government blocks debate and a motion moved by Greens and supported by Labor and cross-benchers to declare a climate change emergency.

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Renew Economy Wednesday, October 16, 2019 - 09:04 Source

climate emergency canberra parliament house scott morrison - optimisedMorrison government blocks debate and a motion moved by Greens and supported by Labor and cross-benchers to declare a climate change emergency.

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MacroBusiness Wednesday, October 16, 2019 - 09:00 Source

By Chris Becker  The prospect of a potential Brexit deal and the partial US-China trade deal took stocks to a four week high despite the ongoing Turkish/Syria tensions. US Treasury yields jumped, pushing US stocks higher while commodity prices slipped as the USD was largely unchanged as Pound Sterling jumped to a near six month

The post Macro Morning appeared first on MacroBusiness.

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