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Your Democracy Wednesday, December 5, 2018 - 15:23 Source
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Renew Economy Wednesday, December 5, 2018 - 15:13 Source

New report provides more insight into performance of Tesla big battery, its ability to keep the lights on in South Australia, and become the "heartbeat" of the grid.

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MacroBusiness Wednesday, December 5, 2018 - 14:55 Source

Via UBS: Q3 domestic demand also hit a 2-year low 0.3% q/q, & down to 2.7% y/y – as Victoria slowed (0.2% q/q, 4.3% y/y), & WA eased (0.4%, -0.6%), but NSW bounced (1.1%, 3.7%). Domestic demand was driven by booming public demand (1.5%, 4.5%); adding 0.4%pts to GDP (& a large 1.0%pts y/y) –

The post UBS: RBA rate cut comes into view appeared first on MacroBusiness.

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The Australian Independent Media Network Wednesday, December 5, 2018 - 14:30 Source

It is attrition, suffocation and contortion. While Theresa May’s Brexit program, weak, compromising and cobbled as it is, endures that bit longer, her opponents from within and without government have been essentially undercutting her on various fronts. Foppish and solutions-free Boris Johnson does so from the perspective that the May program as it has been…

The post In Contempt of Parliament: The Legal Advice of Brexit appeared first on The AIM Network.

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Renew Economy Wednesday, December 5, 2018 - 14:09 Source

South Australia's energy transition is shrouded in myths created by those who want to slow or stop the switch to renewables. It is actually a model of success. Here's why.

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MacroBusiness Wednesday, December 5, 2018 - 14:00 Source

By Leith van Onselen It looks like Labor will persist with raising Australia’s compulsory super rate to 12%, if former energy and climate change minister in the Rudd and Gillard governments, Greg Combet, is any guide. From The Australian: Greg Combet, now one of the most powerful figures in the $2.7 trillion superannuation system, says.. the government needed

The post Labor man Greg Combet demands 12% compulsory super lift appeared first on MacroBusiness.

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The Australian Independent Media Network Wednesday, December 5, 2018 - 13:50 Source

By David Ayliffe  Children at a remote Victorian Christian School have been forbidden to watch, play or discuss football by the conservative Principal of the school, Phil Upright, who calls the game “Satanic”. Pastor Phil Upright, who leads the “Discriminate a right and a Privilege Independent Thinking Political Party” also heads Liberty Christian Church and is…

The post Satanic Football Ban – Christian School Acts appeared first on The AIM Network.

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MacroBusiness Wednesday, December 5, 2018 - 13:30 Source

By Leith van Onselen Just two months after the Grattan Institute released propaganda claiming “Australia’s urban commuters have little to fear from population growth”, that “migration has not brought cities to a standstill”, and that the impact of population growth is “benign”, the truth has been revealed yet again, with the Global Urban Mobility Index showing

The post Population ponzi drives big rise in traffic congestion appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 5, 2018 - 13:00 Source

By Leith van Onselen The 2018 Household Income and Labour Dynamics in Australia (HILDA) survey revealed that ‘housing stress’ – defined as when “housing costs are more than 30% of income and household income places the household in the bottom 40% of the income distribution” – is particularly high for renters: Whereas the proportion of

The post Half of Australian renters are living in squalor appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 5, 2018 - 12:46 Source

S&P deluded: Key takeaways − A weakening in government support remains a possibility, but we see a recent regulatory proposal on increasing banks’ loss-absorbing capacity as an indication that support is likely to remain high. − Economic imbalances remain elevated. However, low credit growth and small falls in house prices in the past year suggest

The post Always the last to know, ratings agencies celebrate Straya appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 5, 2018 - 12:32 Source

From Westpac’s Bill Evans: This result will come as a disappointment to the Reserve Bank. Note that the forecast for GDP growth in 2018 for which appeared in the November Statement on Monetary Policy was 3.5%. With the first three quarters of the year totalling 2.2% the December quarter would have to print growth of

The post Bill Evans: GDP pops RBA Futureboom! bubble appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 5, 2018 - 12:31 Source

By Leith van Onselen The Australian Bureau of Statistics (ABS) today released the national accounts for the September quarter, which registered soft 0.3% growth in real GDP over the quarter and a 2.8% rise over the year. On a per capita basis, real GDP fell by 0.1% over the quarter but was up by 1.8%

The post GDP in detail: weak growth, weaker employee earnings appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 5, 2018 - 12:00 Source

Because I agree with Janet on nothing but this: …last week former Treasury boss, now National Australia Bank chairman, Ken Henry delivered a pretentious and prolix lecture, pointing the finger for corporate misdeeds at “the state of capitalism”. “The capitalist model is that businesses have no responsibility other than to maximise profits to shareholders,” he

The post When Albrechtsen and I agree, Ken Henry must go appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 5, 2018 - 11:49 Source

The Australian dollar is down smartly post-GDP: Bonds are verging right at breakout: ASX is also right at critical support: Big Iron is mixed: Big Gas smashed: Big Gold has a bid with some justification: Big Banks are puking: And Big Realty: A little bit of reality creeping in…

The post Bonds boom as ASX hangs grimly to critical support appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 5, 2018 - 11:45 Source

Can Australia’s gas catastrophe get any more stupid? Yes, it can: Australia’s fifth LNG import terminal has been proposed by a South Korean developer, striking a preliminary deal with the Port of Newcastle to boost gas supplies to the nation’s east coast as part of a $US430 million ($586m) facility. EPIK, described as a Seoul-based LNG

The post Korea takes piss with fifth LNG importer for NSW appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 5, 2018 - 11:31 Source

The ABS is out with Q3 GDP and the news is weakness:   You’ve got to hand it the world’s best bubble managers. Their not going down without a fight!

The post Australian GDP fades as housing bust takes toll appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 5, 2018 - 11:30 Source

Weeoo, weeoo, weeoo. The Pascometer has sifted through the bearish data until he’s finally found  tidbit with which to call the house price bottom: …here’s a little indicator worm that’s turned: The Sydney/Brisbane house price ratio has returned to normal. As previously reported, Sydney house prices tend to be 1.7 times more expensive than Brisbane

The post Pascometer calls the house price bottom appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 5, 2018 - 11:15 Source

By Leith van Onselen More details have emerged about the NSW Government’s proposed four routes for high speed rail (HSR) into Sydney: A high speed rail project Premier Gladys Berejiklian has committed to start work on if she wins the state election could cost $100 billion… “A reasonable figure would be $100 billion in Australian dollars

The post Gladys launches $100b ponzi rail Hail Mary appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 5, 2018 - 11:00 Source

Bravo, via Domain: South Australian Centre Alliance senator Rex Patrick is seeking to overturn a decades-long convention in Australia that ministers, assistant ministers and parliamentary secretaries – unlike their staff and public servants – are exempt from security checks before accessing classified government material. …Importantly, the security services would not be able to veto ministerial

The post ASIO to vet MPs for China influence appeared first on MacroBusiness.

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xkcd.com Wednesday, December 5, 2018 - 11:00 Source

Snowy blizzards are fun, but so are warm sunny beaches, so we split the difference by having lots of icy wet slush!

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MacroBusiness Wednesday, December 5, 2018 - 10:45 Source

A few days ago, LVO penned a piece exposing the extraordinary rent-seeking economy of NSW: One of the biggest structural changes to have occurred to the Australian economy over the past 35-years has been the explosive growth in the FIRE economy – Finance, Insurance and Rental, Hiring & Real Estate Services – which has roughly doubled

The post Chastened Treasurer defends NSW against MB attack appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 5, 2018 - 10:30 Source

And surely it will do so. Two stories today show the lunacy, via AFR: The Morrison government has responded to backbench and industry anger by softening its proposed “big stick” laws to forcibly divest energy companies, but business remains hostile and there is no guarantee the laws will pass Parliament. In another day of energy

The post Labor can humiliate Coalition energy chaos with a pen stroke appeared first on MacroBusiness.

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Renew Economy Wednesday, December 5, 2018 - 10:30 Source

Herbert Smith Freehills has advised MUFG Bank, Ltd., (MUFG) on the A$140 million ‘Samurai’ refinancing of the Waterloo Wind Farm.

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Renew Economy Wednesday, December 5, 2018 - 10:25 Source

Politicians around Australia are proposing ambitious plans to export renewable energy from Australia, using high-voltage power lines laid under the oceans. But will this work?

The post Can we make Australia a renewable energy exporting superpower? appeared first on RenewEconomy.

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MacroBusiness Wednesday, December 5, 2018 - 10:15 Source

By Leith van Onselen Former Fair Work Ombudsman (FWO), Natalie James, has admitted that wages theft is rife across the Australian economy, especially in migrant-heavy sectors. From The AFR: …by the end of her five-year term as the Fair Work Ombudsman she had come to the conclusion underpayments were not only part of a culture in

The post Former Fair Work Ombudsman: Migrant wages theft rife appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 5, 2018 - 10:00 Source

By Leith van Onselen The Australian’s Adam Creighton has penned an enlightening article on the extraordinary cost of Australia’s superannuation system, which is running at around quadruple that of the Aged Pension, according to analysis provided by the peak superannuation industry, Association of Superannuation Funds Australia (ASFA): Age Pension outlays, which totalled $46.8 billion this year,

The post The extraordinary fiscal cost of compulsory super appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 5, 2018 - 09:45 Source

By Leith van Onselen With new NSW Labor leader, Michael Daley, vowing to make the issue of over-development a key plank of his election platform, Premier Gladys Berejiklian has ordered an urgent review into development in Ryde, where more than 13,000 extra people have been sardine packed in recent years. From The Daily Telegraph: The under-pressure Premier

The post Gladys launches fake review of Sydney crush-loading appeared first on MacroBusiness.

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En Passant Wednesday, December 5, 2018 - 09:36 Source


Thousands of school kids joined together to stick it to the Government’s lack of climate change policy (Screenshot via YouTube)

Government condemnation of a massive protest by students over climate change has shown us where the real intelligence lies, I write in Independent Australia.

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MacroBusiness Wednesday, December 5, 2018 - 09:30 Source

It is captured in this one chart from Art Berman: This one chart is the US shale revolution in global oil markets. What it shows is the forward curve for oil sales over time. As you can see, the curve has been smashed lower and flatter in recent weeks. What US shale does is find

The post How US shale controls oil prices appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 5, 2018 - 09:00 Source

Spot up. Paper up more. Steel futures shifted forward to May and slumped. Mill margins will be getting killed. Rebar inventories are still falling as nobody want to hold stock when prices are falling on over-production. There’s more pressure coming for iron ore once through the new year restock.

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

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