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MacroBusiness Saturday, February 9, 2019 - 00:01 Source

Global Macro / Markets / Investing: Who Wants to Be a Billionaire? – Bloomberg Abolish Billionaires – NY Times Fightback against the billionaires: the radicals taking on the global elite – The Guardian The Good Jobs Challenge – Project Syndicate Americas: Russian-Style Kleptocracy Is Infiltrating America – The Atlantic ‘Too hot to handle’: Pelosi predicts

The post Weekend Reading: 9-10 February 2019 appeared first on MacroBusiness.

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The Australian Independent Media Network Friday, February 8, 2019 - 21:41 Source

There have always been incidents of nepotism, rorting, broken promises, moral failures, poor decisions, and even straight out lies, in politics.  So why does it feel so bad now? In the past, despite the shortcomings of the government of the day and the failings of individuals in parliament, there was an overall feeling that progress…

The post The government’s constant negativity is draining and divisive appeared first on The AIM Network.

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MacroBusiness Friday, February 8, 2019 - 17:30 Source

The lack of progress in both the Brexit no-deal and the US China trade talks continues to weigh on risk markets with overnight losses festering into the Asian session today as some Chinese markets return from holiday. In currency land most undollar assets are unchanged but the Aussie dollar is failing against the crosses, notably

The post Macro Afternoon appeared first on MacroBusiness.

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Renew Economy Friday, February 8, 2019 - 15:01 Source

Angus Taylor has seized upon an ANU renewables briefing as justification for the government’s do-nothing approach to climate. But meeting our Paris target is certainly not a given.

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Renew Economy Friday, February 8, 2019 - 14:36 Source

ARENA-backed project will re-purpose a zinc mine in South Australia into a 5MW/10MWh compressed air energy storage facility, to support the grid and greater use of renewables.

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Renew Economy Friday, February 8, 2019 - 14:23 Source

Does rooftop solar really struggle in the heat? Real data from two rooftop solar systems show how they reliably soldiered on during a recent Adelaide heatwave.

The post How to power through a heatwave – in comfort, on 100% solar energy appeared first on RenewEconomy.

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Renew Economy Friday, February 8, 2019 - 14:22 Source

It’s boom-time for Australia’s rooftop solar sector, but not everything is rosy. We take a glimpse into the world of “crap solar,” where helping people to save money on their bills is the last thing on the agenda.

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Renew Economy Friday, February 8, 2019 - 14:15 Source

Experts and advocates have consistently found dealers and manufacturers putting as little effort as possible into selling electric cars.

The post Car companies aren’t even trying to sell electric cars appeared first on RenewEconomy.

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MacroBusiness Friday, February 8, 2019 - 14:00 Source

Weeoo, weeoo, weeoo. The Pascometer is wailing again today, this time redlining on…strangely…its own failed career. I have a confession to make: For a quarter of a century it was my job to provide daily financial market reports of one kind or another. Like all other daily financial markets reports, they were mostly rubbish. …I

The post Pascometer redlines on a failed career appeared first on MacroBusiness.

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Renew Economy Friday, February 8, 2019 - 13:56 Source

To go into big wind and solar generation big-time will cannibalise AGL's coal generation profits – it's the classic problem incumbents face from industry disruption.

The post Is AGL ready to be disrupted? appeared first on RenewEconomy.

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Renew Economy Friday, February 8, 2019 - 13:39 Source

open cut mine in the Hunter ValleyNSW Land and Environment Court judge blocks Hunter Valley coal mine, citing urgent need to cut fossil fuel emissions and avoid "dire consequences" of climate change.

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MacroBusiness Friday, February 8, 2019 - 13:30 Source

Old man Gotti has gone way beyond the pale today: The anger China has with Australia is unique and does not apply to any of its other developed country trading partners….business people were told mid last year that a number of our universities would see a softness in Chinese enrolments during 2019. And, of course,

The post Time Gotti retired appeared first on MacroBusiness.

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MacroBusiness Friday, February 8, 2019 - 13:00 Source

Via Damien Boey at Credit Suisse: In terms of the sources of downgrades, the Bank has slightly lowered its outlook for consumption and cut its forecast for residential investment. But it still expects business and public capex to do the heavy lifting. Some other interesting comments from the SoMP include: The RBA’s view that offshore

The post Credit Suisse: Much deeper RBA downgrades to come appeared first on MacroBusiness.

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MacroBusiness Friday, February 8, 2019 - 12:45 Source

REA is down 5% so far today on its earnings update: In short, no revenue growth ex-acquisitions. Yet it’s consensus earnings growth remains gigantic: Trading on a trailing PE of 37x. Good luck.

The post REA joins Domain bust appeared first on MacroBusiness.

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Renew Economy Friday, February 8, 2019 - 12:25 Source

Renewable certificate prices plunge, reflecting huge pipeline of wind and solar projects and intervention from regulator. It also makes a nonsense of right-wing inventions about the cost of RET.

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MacroBusiness Friday, February 8, 2019 - 12:15 Source

Via Bill Evans at Westpac before today’s SoMP downgrades: The RBA has started the year with a significant shift, lowering its growth outlook and acknowledging greater uncertainties and downside risks. While the Board still expects the economy to track towards its employment and inflation targets, and does not see a strong case for a near

The post Bill Evans edges towards rate cuts appeared first on MacroBusiness.

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Renew Economy Friday, February 8, 2019 - 12:13 Source

First of 149 turbines installed at site of one of Australia’s biggest, lowest cost, wind energy developments, the 530MW Stockyard Hill Wind Farm in western Victoria.

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MacroBusiness Friday, February 8, 2019 - 11:50 Source

Funny bastards! February SoMP shredded: Growth shredded by much more than has been previously mooted but still not enough! Then a magical rebound.  Check out the new headline inflation number for June 2019 at 1.25%. They’ve covered over this shocker by elevating core inflation. Then another magical rebound! Someone has finally recognised that the data flow

The post RBA trashes economic outlook, Australian dollar appeared first on MacroBusiness.

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MacroBusiness Friday, February 8, 2019 - 11:45 Source

By Leith van Onselen A conga-line of “experts” have slammed Labor’s $6.6 billion affordable rental scheme, which is aimed at facilitating the construction of 250,000 ‘affordable’ rental dwellings over the next decade. From The Australian: The Grattan Institute’s John Daley said the policy, announced by Bill Shorten at Labor’s national conference in December, would be

The post Experts slam Labor’s dud NRAS 2.0 appeared first on MacroBusiness.

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Renew Economy Friday, February 8, 2019 - 11:38 Source

Today the Australian Government announces Ms Paula Conboy has advised she will not be pursuing a second term as the Chair of the Australian Energy Regulator (AER).

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MacroBusiness Friday, February 8, 2019 - 11:30 Source

From Martin North, comes data showing that Australian mortgage stress has surged to new record highs, driven by the bubble/bust epicentres of NSW and VIC: The number of households in severe stress continues to rise. The latest RBA data on household debt to income to September fell a little to 188.6, but still remains highly

The post Mortgage stress spreads to more than one million Aussie households appeared first on MacroBusiness.

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MacroBusiness Friday, February 8, 2019 - 11:15 Source

By Leith van Onselen The fallout from Monday’s fire at the 41-storey Neo200 building on Melbourne’s Spencer Street continues, with Victoria’s Planning Minister, Richard Wynne, reportedly seeking a nationwide ban on combustible cladding, which is present in “thousands of Victorian buildings”. Wynne says the federal government has a major role to play in ensuring that building

The post Thousands of Victorian buildings have flammable cladding appeared first on MacroBusiness.

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MacroBusiness Friday, February 8, 2019 - 11:00 Source

Mike Baird appears to be firming as the favourite to replace Andrew Thorburn as NAB CEO, via UBS: Following the negative comments by Commissioner Hayne in the Royal Commission Final Report NAB announced the resignation of both the CEO Andrew Thorburn and Chairman Ken Henry. NAB announced that well regarded and highly experienced Phil Chronican

The post NAB should avoid Mike Baird like the plague appeared first on MacroBusiness.

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xkcd.com Friday, February 8, 2019 - 11:00 Source

To avoid errors like this, we render all text and pipe it through OCR before processing, fixing a handful of irregular bugs by burying them beneath a smooth, uniform layer of bugs.

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MacroBusiness Friday, February 8, 2019 - 10:45 Source

There is something to pay attention to other than the house price crash. Phil Lowe mentioned it yesterday in passing: It’s an interesting issue you know, why we find ourselves in this situation. And every time I go to … talk to other governors of central banks, which I do six times a year, it

The post Australia is building fiscal firepower appeared first on MacroBusiness.

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MacroBusiness Friday, February 8, 2019 - 10:30 Source

By Leith van Onselen In 2017, News.com.au published an illuminating article profiling a skilled Australian IT worker that had arrived home from working as a project manager at Amazon’s Seattle campus but could not gain employment despite hundreds of job applications: AT 25 years old, James was living a tech-head’s dream. The university graduate had been

The post Tech oligarchs demand MORE migrants appeared first on MacroBusiness.

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Renew Economy Friday, February 8, 2019 - 10:28 Source

Herbert Smith Freehills has continued its run as the pre-eminent law firm for project finance in the renewables sector in Australia and New Zealand after topping the Inframation Deals league tables for deal count and deal value in 2018.

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Renew Economy Friday, February 8, 2019 - 10:27 Source

We know energy efficiency is the low-hanging fruit of emissions reduction and lower bills, but a new report shows it's also a major job creator, with plenty more potential.

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MacroBusiness Friday, February 8, 2019 - 10:15 Source

Via The Australian comes the Nats invisible man: Internal Nationals polling shows the party will struggle to hold the regional NSW seats of Cowper and Page at the federal election, and party leader ­Michael McCormack is virtually unknown to voters and poorly rated by those who are aware of him. Polling conducted for the party

The post The Nat’s invisible man appeared first on MacroBusiness.

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MacroBusiness Friday, February 8, 2019 - 10:10 Source

Professor Ian Harper has had better weeks. First, as the Reserve Bank’s micro-economic patsy, he was thrown under the interest rate bus to set up Phil Lowe’s elegant back flip with pike: The clearest indicators of ongoing momentum of Australia’s economy are strong employment growth and a rapid shift in the federal budget toward surpluses,

The post Hayne reverses bus over Professor Harper speed hump appeared first on MacroBusiness.

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