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MacroBusiness Friday, June 15, 2018 - 10:15 Source

Man, this guy is bloody crooked, via The Australian: “My message to the retailers is unless they get prices down and they pick up their act, you will see more intervention because that is what the public will demand of their political leaders,” Mr Frydenberg told ABC Radio National. …Mr Frydenberg also lashed AGL specifically,

The post Frydenberg blames AGL for no domestic gas reservation appeared first on MacroBusiness.

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Renew Economy Friday, June 15, 2018 - 10:14 Source

Tesla is moving towards a more conventional marketing of their cars, saying the Model S and X save a lot of money compared to similar-priced petrol cars.

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Renew Economy Friday, June 15, 2018 - 10:09 Source

Silicon Valley is in love with E-scooters as electric scooter company Bird raises more capital that doubles its value in just a fortnight.

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MacroBusiness Friday, June 15, 2018 - 10:00 Source

By Leith van Onselen We wrote last week how home values have fallen fastest across the top 25% of properties by value. Now, CoreLogic has once again gone a step further and assessed home price growth across each decile, which confirms that values have fallen fastest at the premium end of the market: Across the

The post Premium homes continue to lead price falls appeared first on MacroBusiness.

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xkcd.com Friday, June 15, 2018 - 10:00 Source

"Buddy, you trying to pull something? I can't buy this gold--all the electrons are missing. I could face serious charges!"

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MacroBusiness Friday, June 15, 2018 - 09:45 Source

By Chris Becker European stocks soared overnight as the Euro tumbled in the wake of the ECB meeting where Super Mario surprised all by announcing absolutely no rate rises for at least 12 months, most likely foreshadowing the next series of trade wars with the US. Wall Street did relatively well, although bank stocks continued

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Friday, June 15, 2018 - 09:41 Source

Via The Australian: Labor’s policy to crack down on negative gearing and double capital gains tax is a “dog of a policy” that takes an axe to the housing market instead of a scalpel, the assistant treasurer says. Michael Sukkar told 2GB Radio this morning that a report on the policy measures by property consultants

The post Coalition launches negative gearing fear campaign 2.0 appeared first on MacroBusiness.

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MacroBusiness Friday, June 15, 2018 - 09:30 Source

Via Domainfax: Banks would have to bluntly warn parents planning to guarantee their children’s business debts that they risk losing their home, and that many small businesses end up failing, under proposals to the royal commission. …However, the major banks are resisting further change, arguing current laws and the industry’s revamped code of conduct give

The post New warnings for Bank of Mum and Dad appeared first on MacroBusiness.

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MacroBusiness Friday, June 15, 2018 - 09:00 Source

By Leith van Onselen With the release this week of the ABS lending finance data for April, 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

The post Falling investor finance points house prices straight down appeared first on MacroBusiness.

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MacroBusiness Friday, June 15, 2018 - 08:30 Source

Whoa! Karen Moley at the AFR awakes: Australian banks are being squeezed by higher borrowing costs as the US Federal Reserve accelerates its interest rate hikes and drains liquidity from global financial markets while the Hayne royal commission makes it difficult for them to raise home loan rates. …Analysts estimated that the spreads paid by

The post Rate cuts loom as bank bear market panic sweeps MSM appeared first on MacroBusiness.

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Renew Economy Friday, June 15, 2018 - 08:07 Source

A weak NEG will let the electricity sector off lightly, and put pressure on emissions reductions on to truckers, farmers and factories. Here's what needs to be done.

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Renew Economy Friday, June 15, 2018 - 07:58 Source

Consumers now trust energy retailers less than they do banks and insurers, thanks to soaring prices and confusing bills, so they are taking matters into their own hands, and looking to solar and storage.

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Renew Economy Friday, June 15, 2018 - 07:36 Source

AEMO and networks lobby release paper arguing for "orchestration" of rooftop solar and battery storage as Australia leads the world on distributed generation. But who gets to hold the baton?

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MacroBusiness Friday, June 15, 2018 - 04:48 Source

EUR cratered last night and DXY took off: AUD was slammed against DMs: And weaker than EMs: Gold held on: Oil was flat: Base metals mixed: Big miners fell: EM stocks look ominously poised for lower: As EM junk leads the way down. Even worse for EM, US junk is recovering! US yields rose bu

The post ECB smashes Australian dollar appeared first on MacroBusiness.

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MacroBusiness Friday, June 15, 2018 - 00:25 Source

By Leith van Onselen Commencing today, MB will produce a monthly chart pack on the Australian economy for paid subscribers. These charts are broken down by topic and presented without comment. They are intended to give readers a birds-eye view of the economy and draw on data from key agencies. Economic Growth National Income Investment

The post Member’s Report: 55 charts on the Aussie economy appeared first on MacroBusiness.

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MacroBusiness Friday, June 15, 2018 - 00:20 Source

By Leith van Onselen The immigration-driven population boom in Sydney – which has added nearly one million people to Sydney’s population over the past 13 years and is projected to increase Sydney’s population by 87,000 people a year over the next 20 years – is the gift that keeps on giving. Last week, 9News reported

The post Sydney schools at “breaking point” from population deluge appeared first on MacroBusiness.

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MacroBusiness Friday, June 15, 2018 - 00:12 Source

By Leith van Onselen In the week ended 14 June 2018, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, rebounded 0.04%: Values rose across three major markets but fell in two: So far in June home values have fallen 0.03%, driven by Melbourne:   So far in 2018,

The post CoreLogic weekly Australian house price update: rebound appeared first on MacroBusiness.

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MacroBusiness Friday, June 15, 2018 - 00:10 Source

By Leith van Onselen Yesterday’s ABS labour force release for May revealed a weakening Australian youth labour market – i.e. those aged 15 to 24 years old. The trend headline unemployment rate fell to 12.17% in May from 12.28% in April: Whereas total employment growth for those aged 15-24 years of age is rising fast:

The post Youth labour market: still sick, but improving appeared first on MacroBusiness.

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MacroBusiness Friday, June 15, 2018 - 00:05 Source

Iron ore prices for June 14, 2018: Tianjin benchmark was up 20 cents to $65. Paper was flat overnight. Steel is running. And is it any wonder with output like this: Inventories are reasonable so it has to be underlying demand. As I’ve noted recently with the big rebound in exports, I think OBOR-demand is

The post Daily iron ore price update (the last hurrah) appeared first on MacroBusiness.

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MacroBusiness Friday, June 15, 2018 - 00:01 Source

Global Macro / Markets / Investing: Bitcoin’s Price Was Artificially Inflated Last Year, Researchers Say – NY Times Tether Used to Manipulate Price of Bitcoin During 2017 Peak, New Study Says – Bloomberg Bitcoin Extends Its Decline – Bloomberg Blockchains Talking to Each Other Gives Hope to Crypto Diehards – Bloomberg PayPal rival Adyen surges

The post Links 15 June 2018 appeared first on MacroBusiness.

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Harrangue Man Thursday, June 14, 2018 - 22:40 Source

The following happened:The PDF would not save the entered data on the main PCIt would save on the laptop but the PDF vanished when looked forThe network fell overAfter a reboot of the modem the laptop froze and had to be rebooted and the main PC goes into a weird hibernate state if the router is reset and it had to be cold rebooted.The network dropped out again and the laptop could not send the email to the main PC.Then the network was up and with the PDF working it was sent direct from the laptop.During the half hour of trying to get it sorted I had an acute anxiety attack and got sent off to recover as thewife tried to fix the PDF issue.

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Digitopoly Thursday, June 14, 2018 - 21:40 Source

News coverage of automation and machine learning tends to focus on extraordinary events, such as computers winning at Jeopardy and Go, and robotic arms flipping burgers in short-order restaurants. Additional headlines foster a sense of nightmares, conjuring pictures of autonomous cars killing pedestrians and newly automated establishments laying off their workforce. The combination of headlines has unleashed a near-hysteria, as if the near-future Terminator will either kill humans indiscriminately or rob the survivors of employment.

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Thursday, June 14, 2018 - 17:25 Source

On 28 April treasurer Scott Morrison announced a $50 million upgrade of the visitors’ centre at the Captain Cook memorial on the shores of Sydney’s Botany Bay, together with $3 million in funding for new monument. Funds were duly set aside in the federal budget just a few weeks later. The site, he said, would become “a place of commemoration and recognition and understanding of two cultures, and the incredible Captain Cook.” A day before the treasurer’s announcement, the British Library’s impressive Captain Cook: The Voyages exhibition opened in London.

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MacroBusiness Thursday, June 14, 2018 - 16:41 Source

An unimpressive result from the Chinese trifecta of mid tier data, alongside a poor lead from Wall Street overnight saw Asian stocks sell off across the board. An equally unimpressive jobs report locally saw the Aussie dollar flounder after its mild selloff against the USD in the wake of last nights FOMC meeting. The Shanghai

The post Macro Afternoon appeared first on MacroBusiness.

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The Australian Independent Media Network Thursday, June 14, 2018 - 15:30 Source

Be wary of the Chinese technological behemoth, goes the current cry from many circles in Australia’s parliament. Cybersecurity issues are at stake, and the eyes of Beijing are getting beadier by the day. The seedy involvement of Australia in the Solomon Islands, ostensibly to block the influence of a Chinese company’s investment venture, is simply…

The post Pushing Huawei Out: Australia, the Solomon Islands and the Internet appeared first on The AIM Network.

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Harrangue Man Thursday, June 14, 2018 - 14:55 Source

One of the more common side effects of PTSD is an up-tick in hand tremour after an anxiety event. After the paperwork was done I had a Valium. And even though I am fine my hand tremours are so off the scale it's like they're like the Swedish Chef from the muppets in that without meaning to you make all these dramatic hand gestures and fling things about when attempting to use your hands.I was trying to return a bottle of oil spray to the pantry and it shook around in my hand as the other shaking hand opened the cupboard.

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Renew Economy Thursday, June 14, 2018 - 14:53 Source

Samsung Electronics officially announced today its plan to commit to 100% renewable energy in the United States, Europe and China by 2020.

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MacroBusiness Thursday, June 14, 2018 - 14:41 Source

China released its May data dump today and growth is slowing sharply. All measures missed expectations with industrial production at 6.8%, fixed asset investment at all time lows of 6.1% and retail sales likewise weak at 8.5%: But under the bonnet, the crucial real estate/steel complex is absolutely booming. Floor area sales rebounded to be

The post China slows sharply as steel boom goes nuclear appeared first on MacroBusiness.

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Renew Economy Thursday, June 14, 2018 - 14:33 Source

The economic boom, the pressure of immigration, and high emissions in transport mean that the energy transition pioneer is headed for a greenhouse gas emission cut of only 32%.

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Renew Economy Thursday, June 14, 2018 - 14:28 Source

Renewables policy pioneer, Simon Corbell, details why state schemes like VRET are critical – including to counter "stifling impact" of NEG on solar and wind investment.

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