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MacroBusiness Monday, February 11, 2019 - 09:45 Source

By Leith van Onselen The Opal Tower farce, which saw residents evacuated from the 34-storey structure after huge cracks were discovered, has forced the NSW Government to undertake a major overhaul of high-rise construction. From The Australian: The changes… will ensure that every party to the construction process, from drafting a design to the final build, is

The post NSW belatedly cracks down on high-rise slum towers appeared first on MacroBusiness.

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MacroBusiness Monday, February 11, 2019 - 09:30 Source

By Chris Becker  Looking at Chinese stocks first, where last week saw the Shanghai Composite closed for most of the Chinese New Year holiday, reopening on Friday with a solid close to be 1% higher and continuing to stabilise above tentative support at the 2600 point level. With the US/China trade talks the main focus, possibly

The post Macro Morning (Trading Week) appeared first on MacroBusiness.

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MacroBusiness Monday, February 11, 2019 - 09:30 Source

Via The Australian: Former foreign minister Bob Carr has slammed the reasons authorities have given businessman Huang Xiangmo for cancelling his visa, saying they were “flimsy” and “loose”. Mr Huang, who is stranded overseas, yesterday released a statement about the decision and a reporter who spoke to him said ASIO had made the call stating

The post “Beijing Bob” rides to Huang’s rescue appeared first on MacroBusiness.

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THE BLOT REPORT Monday, February 11, 2019 - 09:19 Source

You have to feel sorry for Tony Abbott. He has failed at almost everything he has tried in his life; priesthood, journalism, marriage, and prime ministership. Now, in the Sydney Morning Herald (SMH), he is pleading with the people of his electorate not to turf him out of parliament at the next federal election1. Abbott holds the seat of Warringah in Sydney’s northeast. It occupies an area from Neutral Bay, Mosman and Manly in the south to Killarney Heights, part of French’s Forest, Brookvale and Curl Curl in the north2.

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MacroBusiness Monday, February 11, 2019 - 09:15 Source

The most important economic finding of the Hayne Royal Commission is under the pump today, via Domain: The corporate regulator will ask the government to change mortgage rules that could make it harder and more expensive for borrowers to get a new home loan if it loses a landmark case against Westpac over responsible lending

The post ASIC moves to outlaw the HEM appeared first on MacroBusiness.

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MacroBusiness Monday, February 11, 2019 - 09:00 Source

Via The Australian: An exclusive Newspoll conducted for The Australian shows Labor lifting its primary vote by one point and retaining a commanding lead over the Coalition, with a two-party-preferred vote of 53 to 47. The poll also shows that Labor’s plan to abolish franking credit refunds for retirees is widely opposed, with 44 per cent of

The post Newspoll: Labor tracking for thumping victory appeared first on MacroBusiness.

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MacroBusiness Monday, February 11, 2019 - 08:45 Source

Iron ore prices for February 8, 2019: Spot to the moon. Paper too. Chinese steel trade resumes today. Expect price fireworks over the next few months. Then just as spectacular a crash as the Vale dust clears. The bulk commodity rocket has all but wiped out Chinese steel mill margins and the moment clarity is

The post Daily iron ore price update (boom and bust from Hell) appeared first on MacroBusiness.

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MacroBusiness Monday, February 11, 2019 - 00:20 Source

In the annals of economic history the key change in the past two decades has been the return of depression economics worldwide. What does this mean? Through the post-WWII period to around the end of the 1980s, Keynesian economists had concluded that contemporary economics had licked the business cycle to such an extent that depression

The post Depression economics arrives Downunder. Only nobody noticed. appeared first on MacroBusiness.

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MacroBusiness Monday, February 11, 2019 - 00:16 Source

By Leith van Onselen L-plate Treasurer, Josh Frydenberg, admitted that the Government’s faux concern of immigration late last year was a smokescreen, committing to a turbo-charged migrant intake and a ‘Big Australia’ at Friday’s COAG population meeting. From The Australian: “Our plan is to continue to grow the economy and to continue to have a

The post Big states turn immigration gun back on federal government appeared first on MacroBusiness.

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MacroBusiness Monday, February 11, 2019 - 00:15 Source

DXY was strong Friday night. EUR was weak: The Australian dollar kept falling against DMs: And EMs: CFTC positions updated to early January were shorter at -37k contracts: Gold is hanging onto its new trading range: Oil firmed: Big miners eased: EM stocks too: US and EM high yield fell: Treasuries were bid: Bunds too:

The post Australian dollar continues to fall with Europe appeared first on MacroBusiness.

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MacroBusiness Monday, February 11, 2019 - 00:15 Source

George Tharenou at UBS has finally joined MB: Recent data clearly shows that the pace of growth is slowing, with weakness in retail, car sales, resi & non-resi approvals, business surveys, home loans & credit. Indeed, the only major ‘positive’ data print in the last month has been unemployment, & while jobs growth remains solid

The post UBS folds: RBA to cut interest rates as unemployment spikes appeared first on MacroBusiness.

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MacroBusiness Monday, February 11, 2019 - 00:12 Source

The AFR rounded up the property locusts over the weekend to chirp about coming rate cuts. Says Rich Harvey, buyer’s agent and chief executive of Propertybuyer: “A rate cut would boost confidence and signal the market has bottomed out and that the government wants to kick-start it again.” …”A cut to interest rates could dial

The post Property locusts swarm rate cuts appeared first on MacroBusiness.

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MacroBusiness Monday, February 11, 2019 - 00:12 Source

By Leith van Onselen According to CoreLogic’s daily house price index, Melbourne dwelling value losses smashed through 9% over the weekend: The below chart shows how Melbourne’s price decline compares against prior price corrections: As you can see, Melbourne’s current property losses are both the second steepest and deepest in nearly 40 years of data.

The post Melbourne property losses smash through 9% appeared first on MacroBusiness.

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MacroBusiness Monday, February 11, 2019 - 00:10 Source

By Leith van Onselen Family homes are reportedly “flying” at auctions “as pent-up buyer demand sparks competition”, according to Domain. The fist pumping comes as Domain’s weekly auction report showed a preliminary clearance rate of 52.8%, although there was conveniently no mention that the final result for the week prior was a disastrous 36.9% –

The post Are auction clearances rebounding? appeared first on MacroBusiness.

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MacroBusiness Monday, February 11, 2019 - 00:01 Source

Global Macro / Markets / Investing: I’ve covered nine financial crises since the 1960s. Here’s what I learned – The Guardian Bezos Selfie Controversy Triggers Alarm For Billionaires Worldwide – Bloomberg The case for an active fiscal policy – VOX Trade war opens commodity floodgates – Nikkei Asian Review Two hundred years of health and

The post Links 11 February 2019 appeared first on MacroBusiness.

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Your Democracy Sunday, February 10, 2019 - 23:46 Source
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The Australian Independent Media Network Sunday, February 10, 2019 - 23:34 Source

    Photo: Helicopter battles bushfires in Tasmania’s Southwest wilderness. “Finished, it’s finished, nearly finished, it must be nearly finished Grain upon grain, one by one, and one day, suddenly, there’s a heap, a little heap, the impossible heap.” Samuel Beckett, Endgame.   Politicians fiddle as Tasmania burns. Freakishly new infernos blaze across 200,000 hectares;…

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Poll Bludger Sunday, February 10, 2019 - 21:58 Source

The second Newspoll for the year finds no continuation of the Coalition's recent improving trend.

The post Newspoll: 53-47 to Labor appeared first on The Poll Bludger.

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Your Democracy Sunday, February 10, 2019 - 20:37 Source
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The Australian Independent Media Network Sunday, February 10, 2019 - 19:39 Source

No, I’m serious. Not only that, the play was written by someone who had homosexual tendencies! Honestly, do these people have no shame? Ok, perhaps you’d better watch this if you don’t know what I’m talking about: Kevin Twitter Sky  If you haven’t seen it and can’t be bothered watching it, basically Kevin Donnelly tells…

The post Sky News Commentator Argues For Primary School Text With Underage Sex And Drugs! appeared first on The AIM Network.

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The Australian Independent Media Network Sunday, February 10, 2019 - 13:40 Source

I wrote this back in December and it is worth repeating to keep in context the Bill that Kerryn Phelps will present to the parliament next week, the Migration Amendment (Urgent Medical Treatment) Bill 2018 : it has already passed the Senate : “Back in September 2014 a young man died in a Brisbane hospital…

The post Down the Rabbit Hole Again ! appeared first on The AIM Network.

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Your Democracy Sunday, February 10, 2019 - 05:38 Source
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Harry Clarke Saturday, February 9, 2019 - 21:28 Source

The Labor Party policy for not refunding
franking credits when an individual pays no income tax is poor policy.

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Your Democracy Saturday, February 9, 2019 - 20:33 Source
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Club Troppo Saturday, February 9, 2019 - 16:21 Source

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THE BLOT REPORT Saturday, February 9, 2019 - 10:36 Source

Creationists come in three flavours and they are:

Young Earth Creationists (YECs) are those who believe that the earth is only a few thousand years old. They vary in their assertions of the age of the Earth. Some claim it is 5,000 years old, some claim it is 6,000 years old, and some a bit older. Indeed, one with whom I interacted online recently stated that the Earth was 6,000 years old but that Adam and Eve existed about 5,000 BC. It seems mathematics was not their favourite topic at school.

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The Australian Independent Media Network Saturday, February 9, 2019 - 08:48 Source

When Scott Morrison announced his intention to just ignore a “stupid vote” on medical evacuations, I sort of presumed that he was simpy saying that he wouldn’t rush off to an election just because he no longer controlled the House of Representatives. This would be the first time sitting government had lost a legislative bill…

The post Where Is John Kerr, Now That We Need Him? appeared first on The AIM Network.

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Poll Bludger Saturday, February 9, 2019 - 06:51 Source

The one new poll for the week maintains the trend of incremental improvement for the Coalition.

The post BludgerTrack: 53.1-46.9 to Labor appeared first on The Poll Bludger.

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Poll Bludger Saturday, February 9, 2019 - 06:30 Source

By-elections today to pick successors to Jay Weatherill and John Rau, and a general opportunity to discuss South Australian matters if that takes your fancy.

The post South Australia: by-elections, etc appeared first on The Poll Bludger.

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Your Democracy Saturday, February 9, 2019 - 06:21 Source

the planet of the rats...

More than twelve years ago, Gus wrote these lines below on this glorious YD site: 

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