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Oz Blog News Commentary
The Australian Independent Media Network Tuesday, April 18, 2017 - 13:20 Source

The internet can be a goldmine of little gems. And dig away, you might strike a little gem or two. Like these: In October 2013 (then Communications Minister) Malcolm Turnbull announced the appointment of former Tesltra boss Ziggy Switkowski as NBN Co to lead a three-person board overseeing the national broadband network. In his inaugural…

The post Telstra’s copper network was almost dead 15 years ago, and they knew it appeared first on The AIM Network.

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MacroBusiness Tuesday, April 18, 2017 - 13:15 Source

From Bill Evans: The minutes of the Monetary Policy meeting of the Reserve Bank Board on April 4 contained some significant changes from the previous minutes for the March meeting. Of most importance has been the final sentence in the section Considerations for Monetary Policy – “the Board judged that developments in the labour and

The post RBA minutes turn dovish appeared first on MacroBusiness.

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MacroBusiness Tuesday, April 18, 2017 - 12:41 Source

Iron ore and coking coal have held onto last night’s losses today in Dalian: And Big Iron is taking the pain as BHP falls -1.6%, RIO -1.4%, FMG -5% and WHC -1.2%: Today’s standout chart is RIO’s breaking head and shoulders top: Perhaps not entirely convincing yet but not a good sign… Big Gas is

The post Iron ore crash thumps shares appeared first on MacroBusiness.

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MacroBusiness Tuesday, April 18, 2017 - 12:21 Source

From Adam Creighton today: If I were French I would vote for Marine Le Pen in next week’s presidential election. Not to do so would be to endorse the political and economic elites that have sapped the life out of ­industry, put the Fifth Republic on track for bankruptcy, forced taxpayers to bail out parasitic banks,

The post Yeh, but, would Adam Creighton vote for Pauline Le Pen? appeared first on MacroBusiness.

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Renew Economy Tuesday, April 18, 2017 - 12:12 Source

Rick Perry's request for the DOE to investigate how federal subsidies boost one form of energy at the expense of baseload generation was clearly meant as a swipe at wind and solar energy resources.

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Renew Economy Tuesday, April 18, 2017 - 12:11 Source

Solar already achieved that milestone in more than 30 countries, according to the World Economic Forum. So what happened?

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Renew Economy Tuesday, April 18, 2017 - 12:10 Source

Germany’s first competitive auction for offshore wind projects included what is likely one of the world’s first subsidy-free offshore wind projects.

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MacroBusiness Tuesday, April 18, 2017 - 12:06 Source

Lol, you can’t keep a good specufestor down, especially not a mad Chinese one. Chinese house prices for March are out and are warming up again, up 0.8% on the month though still falling year on year at -11.3%: 62 cities saw rising prices and only eight falling: Though first and second tiers are still

The post Chinese house prices warm up again appeared first on MacroBusiness.

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MacroBusiness Tuesday, April 18, 2017 - 11:55 Source

By Leith van Onselen My cousin, Peter van Onselen, has penned a piece in Perth Now warning that Labor’s proposed negative gearing reforms could further “crush” Perth property: MAKE no mistake, if Labor wins federal office and legislates its changes to negative gearing it will crush the already fragile West Australian housing market. Since the

The post Negative gearing farce shifts to Perth appeared first on MacroBusiness.

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MacroBusiness Tuesday, April 18, 2017 - 11:45 Source

From the AIG: The shortage in the domestic market could be between 10 PJ and 54 PJ per year if AEMO is right, or somewhat higher if other observers are correct. But the export channel is expected to send 1300-1400 PJ overseas each year. A modest contraction in this volume could easily cover domestic shortfalls

The post More on the gas market swap mess appeared first on MacroBusiness.

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MacroBusiness Tuesday, April 18, 2017 - 11:15 Source

By Leith van Onselen There are ongoing calls for a rail link to be built to Melbourne Airport. Earlier this month, Prime Minister Malcolm Turnbull threw his support behind the proposal and confirmed that funding would be included in the May Budget: “The Napthine government took steps towards a rail line to Tullamarine and it’s

The post Will Melbourne Airport’s privatisation sabotage rail link? appeared first on MacroBusiness.

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MacroBusiness Tuesday, April 18, 2017 - 11:14 Source

Via the AFR on new lending changes from Citi: It is believed that other major lenders are planning similar announcements over coming weeks. …The major changes, which were notified to mortgage brokers last Thursday, will be a ban on interest-only loans for: All non resident loans; Loans reliant on foreign income; Loans requiring Foreign Investment

The post If Citi is any guide, macroprudential 2.0 is going to misfire appeared first on MacroBusiness.

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Popular Science Tuesday, April 18, 2017 - 11:12 Source

In watching the giant shipworm Kuphus polythalamia ooze out of its shell like Tim Burton's idea of cake frosting, a few words might spring into your mind. "Science fiction plague," perhaps, or "dear god, why have you forsaken us," or "put that thing back where it came from, so help me." But Margo Haygood, a research professor in medicinal chemistry at the University of Utah College of Pharmacy, gushes that the worm is "the prize, the unicorn" of the shipworm world.

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Popular Science Tuesday, April 18, 2017 - 11:12 Source

Vegetables are an incredibly healthy source of fuel—nutrient-packed and light on the calories. There's no question about that. And they're jam-packed with essential vitamins. But like any food, there's perhaps a million ways one can eat them: raw, steamed, baked, and even fried. But some enthusiasts claim that the process of cooking vegetables causes them to lose a portion of their nutritious value. Is this true? What's the most nutritious way to eat your veggies?

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Popular Science Tuesday, April 18, 2017 - 11:12 Source

So, the Pentagon used a massive bomb against caves in eastern Afghanistan that currently house ISIS fighters, and previously housed insurgents fighting against British rule in the 19th century and mujahadeen fighting against Soviet control in the 20th century. For centuries, the caves of Afghanistan have made it difficult for outsiders to control the country. But in the early 21st century, the United States considered developing a brand new weapon to nullify these ancient defenses. The “Robust Nuclear Earth Penetrator” was an earthquake in a can, a nuclear bomb designed to seal the caves once and for all.

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Popular Science Tuesday, April 18, 2017 - 11:12 Source

Stockton Rush wants to take explorers into the deep sea. Not just scientific researchers or military personnel, but regular (well, wealthy) travelers on a quest of discovery. But don't call them tourists.

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Popular Science Tuesday, April 18, 2017 - 11:12 Source

Google went big on art this week. The company launched a platform to help people who are terrible at art communicate visually. It also published research about teaching art to another terrible stick-figure drawer: a neural network.

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Renew Economy Tuesday, April 18, 2017 - 11:10 Source

TrinaBESS have announced that the company will introduce its large-scale Battery Energy Storage System called TrinaMega for the US Market

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Renew Economy Tuesday, April 18, 2017 - 11:10 Source

TrinaBESS have announced that the company will introduce its large-scale Battery Energy Storage System called TrinaMega for the US Market

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MacroBusiness Tuesday, April 18, 2017 - 10:59 Source

Right on cue, the sell side downgrades to big miners have begun. Citi is out today with profit and price outlook cuts to FMG while Macquarie has cut WHC. Goldman is now forecasting an ongoing profit downgrade cycle: The end of the upgrade cycle. BHP, RIO and FMG have benefitted from a considerable earnings upgrade

The post Big mining downgrade cycle begins appeared first on MacroBusiness.

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Prosper Australia Tuesday, April 18, 2017 - 10:52 Source

The Petroleum Resource Rent Tax has been a successful revenue-sharing device since 1987, delivering well over $33 billion to Consolidated Revenue, derived entirely from the economic rents of resource extraction with no harm to producers. It has never deterred exploration or hindered output. Treasurer Scott Morrison commissioned a Treasury review by Michael Callaghan into why […]

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MacroBusiness Tuesday, April 18, 2017 - 10:10 Source

By Leith van Onselen In addition to explicitly warning on household debt (covered on Thursday), the Reserve Bank of Australia’s (RBA) bi-annual Financial Stability Review (FSR) contained an alarming section on the high degree of interest-only borrowing by Australian home buyers. Below are the key extracts. Interest-only (IO) loans account for a sizeable and growing

The post Interest-only mortgages are Australia’s sub-prime appeared first on MacroBusiness.

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MacroBusiness Tuesday, April 18, 2017 - 10:05 Source

Via The Australian: The Turnbull government has renewed warnings it could foist tougher regulations on the gas sector ahead of a high-powered meeting on getting more gas to east coast domestic users and as manufacturers warn they face a “price disadvantage” compared with Japan, Europe and the US. Ahead of talks tomorrow between gas industry

The post Do-nothing Malcolm waves lettuce leaf at gas cartel appeared first on MacroBusiness.

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MacroBusiness Tuesday, April 18, 2017 - 09:55 Source

From Bill Evans of Westpac today: Given the Reserve Bank’s intense concentration on stability issues, including the introduction of new guidelines from APRA, the April Stability Review is of particular interest. Our interest is twofold. Firstly to gauge the degree of concern with which the Bank views the current risks and secondly whether it has

The post Does the RBA understand what it’s taken on in household debt? appeared first on MacroBusiness.

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Renew Economy Tuesday, April 18, 2017 - 09:41 Source

As the cost of solar, storage and wind continue to fall, the pressure on utility business models and their so-called "parenting advantage" will increase significantly.

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MacroBusiness Tuesday, April 18, 2017 - 08:51 Source

By Leith van Onselen On Thursday, the Reserve Bank of Australia (RBA) released its bi-annual Financial Stability Review (FSR), which warned that the flood of new high-rise supply across the East Coast capitals could lead to falling apartment prices and possible defaults from buyers and developers, especially in Brisbane. Below are the key extracts. …there

The post RBA warns on Brisbane apartments appeared first on MacroBusiness.

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MacroBusiness Tuesday, April 18, 2017 - 08:48 Source

By Chris Becker   As most of the world had a long weekend, two leaders with weird haircuts ratcheted up the tensions in Korea sending volatility through the roof on futures, although US stocks came back last night as the USD strength faded slightly. The bigger moves are in commodities with the continued slump in iron

The post Macro Morning appeared first on MacroBusiness.

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Your Democracy Tuesday, April 18, 2017 - 08:28 Source
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MacroBusiness Tuesday, April 18, 2017 - 08:27 Source

Markets continue to ignore North Korea. The USD was soft last night: Commodity currencies were strong: Gold sold: Brent too: Base metals were mixed: Big miners were hit: EM stocks did OK: And high yield: US bonds were bought: European spreads widened: And stocks took off: Rather stupidly. North Korea is escalating: Yonhap reports that

The post Ignoring North Korea is ill-advised appeared first on MacroBusiness.

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The Australian Independent Media Network Tuesday, April 18, 2017 - 08:19 Source

  Returning triumphant from his taxpayer-funded pollie pedal ride, Tony Abbott has engaged in a media blitz to pass on his diagnosis of the problems of modern politics. First, he wrote an article in The Telegraph outlining how the Coalition was on the road to defeat and what they should do to turn it around. …

The post The suppository of all wisdom’s verbal diarrhea appeared first on The AIM Network.

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