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MacroBusiness Monday, May 25, 2020 - 12:20 Source

He’s getting some nice press though: “We’ve long believed that free markets are the way to go – let the market decide,” he adds. “I have learnt that this is short-term thinking because most countries out there, especially top-down autocracies like China, or the planned Asian economies like Japan, South Korea and Taiwan – they

The post Andrew Liveras doesn’t know what he’s up against appeared first on MacroBusiness.

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

The ABS has released preliminary international trade data for April, which has registered solid falls in both imports and exports: The preliminary figures show that exports fell $4 billion or 12 per cent from the record high figure in March 2020 of $35,797m. Driving the decrease was a $1.7 billion decrease in exports of non-monetary

The post Australia’s international trade took a dive in April appeared first on MacroBusiness.

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MacroBusiness Monday, May 25, 2020 - 12:00 Source

There’s an old saying: “When you are in a hole, stop digging”. This could easily be applied to the University of Queensland’s (UQ) bungled handling of undergraduate Drew Pavlou, which UQ is attempting to expel for shining a light on the University’s deep ties with the Chinese Communist Party (CCP). Drew Pavlou’s ‘David vs Goliath’

The post UQ runs scared as CCP links exposed appeared first on MacroBusiness.

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MacroBusiness Monday, May 25, 2020 - 11:40 Source

As reported above by Sky News, thousands of Hong Kong citizens have held a demonstration protesting Beijing’s plan to enforce national security laws on the city. Beijing unveiled plans on Friday to impose laws on Hong Kong that would ban subversion, secession, foreign interference and any acts that threaten national security. According to a CCP

The post CCP crushes Hong Kong “terrorists” appeared first on MacroBusiness.

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MacroBusiness Monday, May 25, 2020 - 11:20 Source

The Minerals Council of Australia (MCA) has urged the federal government to reduce the company tax rate as part of its post-coronavirus economic strategy. MCA CEO Tania Constable says the nation’s corporate tax rate is not internationally competitive, and measures such as tax reform and speeding up project approvals could prompt a new wave of

The post Minerals Council flogs company tax dead horse appeared first on MacroBusiness.

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Renew Economy Monday, May 25, 2020 - 11:16 Source

Tilt Renewables adds three new big battery projects in Victoria to its development portfolio as it seeks its own "firming" options that will offer better value than market contracts.

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MacroBusiness Monday, May 25, 2020 - 10:48 Source

The AUD is up and away this morning, recapturing the mid-65s, former resistance, now support: Bonds have eased: Stocks jumped at the open and the chart is still bullish: Big Iron is loving making the rifles and cudgels of autocracy: Big Gas too: And Big Gold: Big Banks are caught an L-shaped recovery tractor beam:

The post Australian dollar to the moon as freedom dies appeared first on MacroBusiness.

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MacroBusiness Monday, May 25, 2020 - 10:40 Source

April saw a bounce back in share markets after March was one of the worst months ever. Our portfolios continue to be positioned defensively and so only took a limited part in the bounce. Over the last year, our Tactical Growth fund is beating the Chant West median superannuation fund by 10%. In our direct

The post MB Fund April 2020 Performance appeared first on MacroBusiness.

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MacroBusiness Monday, May 25, 2020 - 10:20 Source

Following Anthony Albanese’s pledge to build a High Speed Rail (HSR) line linking the east coast capitals if Labor wins the next election, the Grattan Institute has released a report, entitled “Fast train fever”, comprehensively demolishing the idea: Australia should dump the decades-old dream of building a bullet train from Brisbane to Melbourne via Sydney

The post Grattan Institute destroys high speed rail appeared first on MacroBusiness.

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MacroBusiness Monday, May 25, 2020 - 10:00 Source

The stars are aligning for a massive increase of immigration once the COVID-19 lockdown ends. Over the past week, we witnessed lobby groups and senior economists soften the Australian population up for a big ramp-up in immigration. It began with Australia’s chief property lobby groups, the Property Council of Australia and the Housing Industry Association,

The post Get ready for an immigration boom appeared first on MacroBusiness.

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xkcd.com Monday, May 25, 2020 - 10:00 Source

The worst part is that's the millisigma interval.

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Your Democracy Monday, May 25, 2020 - 09:53 Source

benefits...

Call #sportsrorts a pork-barrelling scandal? Nah, the Community Development Grants program, that’s a scandal – 11 times the size of #sportsrorts and a much more blatant bias towards Coalition seats.

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MacroBusiness Monday, May 25, 2020 - 09:40 Source

Late on Friday, it a big revision of JobKeeper numbers was revealed in a joint media release from Treasury and the ATO, with the number of recipients downgraded from 6.5 million to 3.5 million and the total cost of the rescue package revised down to $70 billion from $130 billion: The enrolment forms completed by

The post JobKeeper ‘bungle’ a blessing in disguise appeared first on MacroBusiness.

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Renew Economy Monday, May 25, 2020 - 09:38 Source

Siemens Gamesa secures a 30-year, full-scope contract to service Senvion turbines at the Murra Warra wind farm in Victoria, Australia.

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John Quiggin Monday, May 25, 2020 - 09:27 Source

Back again with another Monday Message Board.

Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please. If you would like to receive my (hopefully) regular email news, please sign up using the following link

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MacroBusiness Monday, May 25, 2020 - 09:20 Source

This is what happens when Labor takes the China bribe to its logical extreme, at ABC: The US ambassador to Australia has played down a suggestion from his Secretary of State Mike Pompeo that his nation could “simply disconnect” from Australia if Victoria’s trade deal with Beijing threatened its telecommunication security. On Sunday morning, Mr

The post Manchurian Dan threatens ANZUS appeared first on MacroBusiness.

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MacroBusiness Monday, May 25, 2020 - 09:00 Source

Iron ore prices for May 22, 2020: Spot down on Hong Kong tensions. Paper and steel too. CISA major mill output for early May was the highest ever. My guess is that’s because a lot of EAF production remains offline. The reality is, end-user demand is still weak, via Capital Economics: And there wasn’t of

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

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The Australian Independent Media Network Monday, May 25, 2020 - 08:39 Source

  Dear Michael I saw you on the 9 news last Saturday evening telling us the $60 billion overestimate, if used to help people excluded from JobKeeper support, like casuals, people in the Arts and  university people, is money our grandchildren will have to repay. You are an intelligent man. You can’t be that ignorant…

The post A letter to Michael Sukkar from a Deakin constituent appeared first on The AIM Network.

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MacroBusiness Monday, May 25, 2020 - 08:30 Source

By Chris Becker  The Trading Week ended with a whimper on Friday night on Wall Street as tensions over the US/China relationship continued to simmer over as the rhetoric ramped up going into the CCP’s national congress. Meanwhile, the long weekend caused many traders to pare their positions with US stocks ending mixed, and Treasuries

The post Macro Morning appeared first on MacroBusiness.

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Your Democracy Monday, May 25, 2020 - 06:55 Source
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MacroBusiness Monday, May 25, 2020 - 00:15 Source

Check this out from Kowtowing Kevin Rudd on the weekend: Seven years into this Liberal government, there is no evidence of a serious China strategy. Lots of tactics, but no strategy. China respects strength, not weakness. It also respects consistency. So here are seven simple principles for the future. First, be unapologetic in our dealings

The post Kowtowing Kevin leads Labor on long march to oblivion appeared first on MacroBusiness.

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MacroBusiness Monday, May 25, 2020 - 00:10 Source

CoreLogic’s preliminary auction report, released yesterday, posted a rebound in the preliminary clearance rate (from 64.0% to 70.9%) but off volumes that are around 70% below the same weekend last year: Once final results are received mid-week, we are likely to see clearance rates fall to around the mid-60s. Domain’s preliminary auction results were a

The post Auction clearances climb as volumes crash appeared first on MacroBusiness.

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MacroBusiness Monday, May 25, 2020 - 00:01 Source

DXY was strong Friday night markets braced for war in Hong Kong: The Australian dollar fell sharply but bounced as well: EMs continued their charge: Gold firmed: Oil eased: Dirt sdnk: Dirt sank: Big miners held on as their iron ore came back as rifles and bullets: EMs were hit: Junk eased: Bonds  were bid:

The post Chinese firing squad takes aim at Australian dollar appeared first on MacroBusiness.

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MacroBusiness Monday, May 25, 2020 - 00:01 Source

Global Macro / Markets / Investing: Oil Price – Traders Are No Longer In Panic Mode To Find Buyers For Unwanted Oil As Demand Ticks Up – Stock Market News Still in thrall to John Maynard Keynes – Washington Post The IMF calls for freezing of bank dividends and redemptions – Economo Dow futures drop

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MacroBusiness Sunday, May 24, 2020 - 21:00 Source

Earlier this month, Australia’s Chief Scientist released a report estimating that 7,000 research jobs could disappear, due in part to the loss of revenue from international students: Australia’s research workforce will be severely impacted by the pandemic and the effects are likely to be felt for an extended period. Income to universities, medical research institutes,

The post International students drive university research. So what? appeared first on MacroBusiness.

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The Australian Independent Media Network Sunday, May 24, 2020 - 17:08 Source

There might be a ‘fine, fine line between pleasure and pain’ but there is most certainly a very fine line between self-interest and corruption – and too many present and past politicians are straying to the wrong side of it. “Yes, Minister” and “Yes, Prime Minister” portrayed the Westminster system as it once operated in…

The post How deep does corruption in high places go? appeared first on The AIM Network.

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The Australian Independent Media Network Sunday, May 24, 2020 - 15:45 Source

Hell has, in its raging fires, ringside seats for those who like their spreadsheets. The seating, already peopled by those from human resources, white collar criminals and accountants, becomes toastier for those who make errors with those spreadsheets. Even in their self-celebrated expertise, blunders will happen. Few errors are as magisterial as that of the…

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MacroBusiness Sunday, May 24, 2020 - 15:00 Source

MacroBusiness has gone to great lengths over many years to explain why Australia’s compulsory superannuation system is not a genuine retirement pillar and is ripe for reform. This comes despite us offering a superannuation fund via our partners at Nucleus Wealth. Thus, we are effectively talking against our own book. We see five fundamental problems

The post Use COVID-19 to drive superannuation reform appeared first on MacroBusiness.

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WixxyLeaks Sunday, May 24, 2020 - 13:54 Source

Last weekend was an important one in Victoria as some of the Covid-19 restrictions had been lifted meaning people could do some of those things they’d been hanging out to do.

You couldn’t go to your local gym. Catching a flick at the movies was out. A sit down breakfast in your local café was still a no go, dinner at a restaurant was definitely off the menu, and going for a pint at the local pub was still a distant memory.

So what could you do last weekend that you couldn’t do the weekend before?

You could blast harmless ducks out of the sky with your mates.

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The Australian Independent Media Network Sunday, May 24, 2020 - 13:36 Source

By John Haly   The CovidSafe app has triggered innumerable privacy and security concerns amidst the public, who are already deeply suspicious of a government that has eroded public trust. Amongst recent instances of the diminishment of our trust are: accusing arsonists of being responsible for the Summer fires, much pork barrelling in coalition seats (including but not restricted to the Sports-Rorts), the draining of Australian…

The post Not so Covid Safe appeared first on The AIM Network.

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