Blogotariat

Oz Blog News Commentary
MacroBusiness Friday, June 21, 2019 - 11:30 Source

By Leith van Onselen The Assistant Minister for Superannuation, Janet Hume, says providing better outcomes for superannuation savers is her most important priority. With a rise in the superannuation guarantee from 9.5% to 12% having been legislated but not implemented, Hume says the federal government has a “moral obligation” to ensure that the super system

The post Coalition backs away from 12% compulsory super increase appeared first on MacroBusiness.

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MacroBusiness Friday, June 21, 2019 - 11:15 Source

From Gottiboff come an update on the LNP’s “greatest peacetime” boom: …Nowhere was this optimism more evident than in the outer suburban land and housing development market, which had collapsed. Many people who had bought land turned their back on contracts when settlement day arrived. …There is certainly a rise in turnover but a 15

The post 21 days in, Gottiboff’s “greatest peacetime” boom goes bust appeared first on MacroBusiness.

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MacroBusiness Friday, June 21, 2019 - 11:00 Source

By Leith van Onselen The federal Treasury’s deputy secretary Meghan Quinn says Australian resources companies have been more effective in the use of new technologies to boost labour productivity than other sectors of the economy. She has told an OECD productivity forum that Treasury’s analysis suggests that non-mining sectors could lift productivity by 6% if

The post Australia’s mass immigration economy is wrecking productivity appeared first on MacroBusiness.

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The Australian Independent Media Network Friday, June 21, 2019 - 10:46 Source

It is clear that Angus Taylor is a man on a mission.  What’s less clear is whose best interests are driving him. Taylor has long been an opponent of the Renewable Energy Target, claiming it is what has driven power prices up.  In reality, he was just pissed off because a neighbour of his family…

The post Angus Taylor is on a mission appeared first on The AIM Network.

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MacroBusiness Friday, June 21, 2019 - 10:45 Source

Via FTAlphaville: The pace at which China is selling its holdings of US Treasuries has accelerated dramatically since the beginning of 2018. Against the backdrop of the escalating US-China trade war and other protectionist measures, the move has sparked concerns that China is actively weaponising its position as the largest foreign creditor to the US government. The fear is

The post China can’t dump US debt appeared first on MacroBusiness.

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Renew Economy Friday, June 21, 2019 - 10:36 Source

BHP puts its Chile and Australian electricity contracts out to tender, and expects renewables to feature strongly in "game-changing" shift.

The post BHP energy tender could deliver “game changing” shift to renewables appeared first on RenewEconomy.

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MacroBusiness Friday, June 21, 2019 - 10:30 Source

By Leith van Onselen From 1 July 2019, the ACT Government will abolish stamp duty for first home buyers (FHBs) earning under $160,000. This policy will effectively extend the existing scheme by extending concessions from new homes only to  established dwellings and vacant land. Moreover, it will replace the existing $7,000 FHB grant. With the

The post ACT launches first home buyer subsidy appeared first on MacroBusiness.

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The Australian Independent Media Network Friday, June 21, 2019 - 10:30 Source

By Dr John Töns   At FANG’s birth nations were already well and truly on the path of embracing FANG; naively it was assumed that humanity would remain in control. We could not imagine that a child of our creation, the child of economic rationalism and neo-liberalism could possibly go feral but that is just what…

The post FANG of the Apocalypse (part 2) appeared first on The AIM Network.

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MacroBusiness Friday, June 21, 2019 - 10:15 Source

We’ve already been through it. Ever since 2011 the RBA has tried to drop the Australian dollar with rate cuts, or has not lifted rates owing to the fear of a rising Australian dollar. This is what triggered the entrance of APRA into macroprudential policy in 2015. Since then a gulf of diffused responsibility has

The post Lunatic RBA completely unprepared for looming currency war appeared first on MacroBusiness.

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Your Democracy Friday, June 21, 2019 - 10:13 Source

logicoil

The Indian Navy is deploying multiple vessels to the Persian Gulf and the Gulf of Oman, to provide “security” for Indian-flagged ships traversing the area. The decision follows multiple attacks on merchant ships there.

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MacroBusiness Friday, June 21, 2019 - 10:00 Source

Via CBA: Flash PMI data for June signalled a further pick up in growth momentum across the Australian private sector. Output and new business both expanded at the steepest rates for seven months amid reports of firmer underlying demand conditions. Consequently, outstanding workloads rose solidly, leading firms to raise their staffing levels for the second

The post CBA flash PMI enjoys ScoMo pop appeared first on MacroBusiness.

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xkcd.com Friday, June 21, 2019 - 10:00 Source

Gotta feel kind of bad for nation-state hackers who spend years implanting and cultivating some hardware exploit, only to discover the entire target database is already exposed to anyone with a web browser.

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The Australian Independent Media Network Friday, June 21, 2019 - 09:46 Source

Aspiration! That’s a good thing, right? But envy, that’s a bad thing. Of course one could become confused because how does one aspire unless one sees something worth aspiring to. Now I do realise that there’s a big difference. In the case of envy you may merely want to bring the other person down, while aspirational…

The post The Politics Of Envy And Other Useful Phrases… appeared first on The AIM Network.

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MacroBusiness Friday, June 21, 2019 - 09:45 Source

Spot at new bubble highs. Paper even higher. Steel is still going nowhere indicating that steel mill margins are getting smashed. The charts: For me the news of the return of Brucutu is the beginning of the end for the bubble. There are further supports ahead: the PBOC will cut interest rates the moment that

The post Daily iron ore price update (time to short) appeared first on MacroBusiness.

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MacroBusiness Friday, June 21, 2019 - 09:30 Source

Yesterday we saw regulatory capture out in the open at the AFR: Westpac has unleashed a fresh wave of property lending by relaxing serviceability conditions on low risk home loans, immediately increasing the borrowing capacity of aspiring home owners by as much as 8 per cent. A spokesman for Westpac confirmed the policy change saying credit officers

The post Exposed APRA wet lettuce slaps Westpac with wet lettuce appeared first on MacroBusiness.

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MacroBusiness Friday, June 21, 2019 - 09:15 Source

The always evil AFR editorial is at it again: Encouraging indications that the Narrabri gas project will go ahead by the end of the year despite the obstacles stacked against it shows the right way to fix Australia’s energy crisis. Santos is spending $3 billion developing 850 coal seam gas wells in north-western NSW, and

The post Memo to Centre Alliance: Santos is a liar appeared first on MacroBusiness.

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MacroBusiness Friday, June 21, 2019 - 07:00 Source

DXY was clubbed lower last night and CNY plus EUR jumped: The Australian dollar was mixed against DMs: And EMs: Gold soared but needs to break above $1400 to indicate more gains: Oil rocketed as the US mulls Iran strikes: Metals were higher: Big miners too: EM stocks jumped: Plus junk: The Treasury curve was

The post Australian dollar roars as US stocks hit record highs appeared first on MacroBusiness.

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Your Democracy Friday, June 21, 2019 - 06:38 Source

smoke...

Despite much egg on Pompeo’s and Bolton’s faces, US expansion of its Cold War II continues regardless

Tony Kevin

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John Quiggin Friday, June 21, 2019 - 02:34 Source

The AFL has handed a lengthy suspension to Collingwood player Jaidyn Stephenson, who was found to have bet a total of $36 on exotic bets, including one that he himself would kick a goal. Stephenson was silly to make the bets, but clearly there was nothing sinister here. This article points out the hypocrisy of the AFLs high-minded stance in combination with their eagerness to take money from the betting companies.

On the other hand, the availability of bets seems to me to make corruption inevitable.

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MacroBusiness Friday, June 21, 2019 - 00:15 Source

By Leith van Onselen The Australian Bureau of Statistics (ABS) yesterday released its quarterly labour force report, which breaks-down employment at the industry level to May 2019. Below are some key charts, which present the changes in employment aggregates on a trend basis. First, the quarterly change in employment by industry: Next, the annual employment

The post Manufacturing jobs plummet to record low appeared first on MacroBusiness.

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MacroBusiness Friday, June 21, 2019 - 00:10 Source

By Leith van Onselen In the week ended 20 June 2019, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, rose by 0.09% – the first weekly rise since August 2018: Values fell across all major markets: So far in June, dwelling values have fallen by 0.16%, with all

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

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MacroBusiness Friday, June 21, 2019 - 00:09 Source

At the beginning of the year, Victorian Premier Daniel Andrews wrote a letter to the National Tertiary Education Union promising to demand a federal government review of university English-language requirements amid concerns that many international students were struggling to participate in class and complete assignments, as well as placing undue strain on teaching staff: “International

The post International students face tougher English language requirements appeared first on MacroBusiness.

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MacroBusiness Friday, June 21, 2019 - 00:01 Source

Global Macro / Markets / Investing: Deutsche Bank Under Investigation for ‘Potential Money-Laundering Lapses’ – Daily Beast More spent on S&P 500 buybacks than all 2018 R&D – Axios Trump Moves From Trade War Toward Currency War – Bloomberg The World Now Has Three People Worth More Than $100 Billion Each – Bloomberg Asia stocks

The post Links 21 June 2019 appeared first on MacroBusiness.

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Renew Economy Thursday, June 20, 2019 - 18:29 Source

rooftop solarLatest Draft Standard for residential battery installations threatens same impact as scrapped “battery bunker” rule – blocking battery installations in, or on, homes.

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The Australian Independent Media Network Thursday, June 20, 2019 - 16:12 Source

By RosemaryJ36   This is a personal view of some of the issues involving the power of the unions and the protections that they offer and I am writing from my own experience rather than research. I am sure there are others who might savagely critique the opinions I express but this essay was triggered by…

The post Capital and labour appeared first on The AIM Network.

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Your Democracy Thursday, June 20, 2019 - 15:43 Source

bull market...bull market...

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Renew Economy Thursday, June 20, 2019 - 15:38 Source

Renewable Energy Heads to the HarbourA small group within renewable energy industry have set up an inaugural event, for those involved in the sector, as well as its supporters

The post Renewable energy heads to the harbour appeared first on RenewEconomy.

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Renew Economy Thursday, June 20, 2019 - 15:15 Source

The Northern Territory is at a crossroads. It can go down the dead-end street of gas fracking, or become Australia’s first renewable-driven economy.

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MacroBusiness Thursday, June 20, 2019 - 15:15 Source

Via the AFR: Westpac has unleashed a fresh wave of property lending by relaxing serviceability conditions on low risk home loans, immediately increasing the borrowing capacity of aspiring home owners by as much as 8 per cent. A spokesman for Westpac confirmed the policy change saying credit officers would now have the discretion to approve principal

The post Westpac slices off a head of APRA wet lettuce appeared first on MacroBusiness.

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MacroBusiness Thursday, June 20, 2019 - 15:00 Source

Via The Australian: Australian energy producers have slammed a move by the Coalition to consider domestic gas reservation, arguing the interventionist measure wouldn’t lower prices for local users but would significantly increase the nation’s sovereign risk profile. …Cooper Energy, which is building the Sole gas project off the Victorian coast, said a reservation policy would

The post Gas cartel is the sovereign risk, not Australia appeared first on MacroBusiness.

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