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Oz Blog News Commentary
MacroBusiness Monday, October 15, 2018 - 10:45 Source

By Leith van Onselen Another German discount supermarket giant, Kaufland, is readying for an aggressive expansion into Australia with 32 stores to open in Australia by 2023. From The AFR: The world’s fourth largest retailer, the Schwartz Group, has injected another $60 million capital into Kaufland Australia… Kaufland, the sister chain of German discounter Lidl,

The post Lookout Coles/Woolies, Kaufland planning aggressive expansion appeared first on MacroBusiness.

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The Tally Room Monday, October 15, 2018 - 10:42 Source

Some of my more committed readers may have noticed that this website was unavailable late on Saturday night. Basically an attempt to install a new mobile theme screwed up the website and it took some time to fix the damage.

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MacroBusiness Monday, October 15, 2018 - 10:32 Source

You wouldn’t know it from reading the MSM but Australia is in the middle of its second largest coal boom in history: The causes are many: China rationalisation and stimulus, supply side accidents etc. Both will ease from here most likely but not crash. And that means this, via the AFR: The federal government could

The post Can coal save house prices? appeared first on MacroBusiness.

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John Quiggin Monday, October 15, 2018 - 10:28 Source

The Ruddock inquiry into religious freedom obviously hasn’t turned out the way its advocates in the right wing of the LNP expected. Far from securing their rights to discriminate against gays,  church schools are almost certain to lose that right with respect to students, and will probably also lose it in relation to teachers. A recent opinion poll shows overwhelming opposition to discrimination, even stronger than the vote in favour of equal marriage last year.

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MacroBusiness Monday, October 15, 2018 - 10:15 Source

By Leith van Onselen The federal Opposition’s communications spokeswoman, Michelle Rowland, says Labor is considering a writedown of the National Broadband Network (NBN) if it wins the next election. Doing so would make it easier for NBNCo to reduce the cost at which it sells broadband capacity to telcos, but it would also cause a

The post Labor flags huge NBN writedown appeared first on MacroBusiness.

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MacroBusiness Monday, October 15, 2018 - 10:00 Source

And a million snowflakes cried out in the darkness, via Politico: CNN before love-making is not his idea of a turn-on. But she can hardly turn it off—engrossed as she is in the latest unnerving gyrations of Washington. Who else to blame but Donald Trump? A president who excites hot feelings in many quarters has

The post Turns out there really is a “Trump derangement syndrome” appeared first on MacroBusiness.

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MacroBusiness Monday, October 15, 2018 - 09:45 Source

Last weekend I gave a short presentation at a Sustainable Australia community meeting in Melbourne. In this presentation, I explain why Australia has developed a massive infrastructure deficit and why it will only get worse as long as the ‘Big Australia’ mass immigration program is maintained. I also explain why living standards will unambiguously worsen

The post MB Presentation: The vain hope for more infrastructure appeared first on MacroBusiness.

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En Passant Monday, October 15, 2018 - 09:38 Source


Cartoon by Mark David / @MDavidCartoons

PM Morrison has bowed to public pressure, announcing he will address homophobic legislation but the extent to which he delivers remains uncertain, writes John Passant in Independent Australia.

To read the whole article, click here.

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John Quiggin Monday, October 15, 2018 - 09:33 Source

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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You can also follow me on Twitter @JohnQuiggin, at my Facebook public page   and at my Economics in Two Lessons page

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En Passant Monday, October 15, 2018 - 09:30 Source

This was published in today’s Canberra Times.

Support for uni strike

The forthcoming strike at the University of Canberra highlights a reality not often mentioned in discussions of higher education. (“Canberra Uni staff to strike for first time in decade’, October 11, p3) Our universities are built on the unpaid labour of their workers.

A survey by the National Tertiary Education Union for example showed lecturers worked on average about 50 hours a week. This is 12 hours a week above the average 38-hour week. For higher-ranked academics, the numbers were even higher.

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MacroBusiness Monday, October 15, 2018 - 09:30 Source

Iron ore prices for October 12, 2018: Spot was up. Paper and steel firm. Rebar inventories are absolutely fine, still up one million tonnes on last year: As production remains mad, via CISA for late September output at 1.98mt: Friday’s trade data was also very much in control with steel exports leveling out around 6mt.

The post Daily iron ore price update (all good) appeared first on MacroBusiness.

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MacroBusiness Monday, October 15, 2018 - 09:15 Source

Via Bloomie, this is not what the market needed: Saudi Arabia threatened on Sunday to use its economic clout to retaliate against any punitive measures, hitting back after U.S. President Donald Trump said he could take action against the world’s largest oil-exporter over the disappearance of a government critic. “The kingdom emphasizes that it will

The post US-Saudi tensions erupt at the wrong moment appeared first on MacroBusiness.

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MacroBusiness Monday, October 15, 2018 - 09:00 Source

By Chris Becker  A tumultous week on equity markets, spurred by the “Bondcano” as 10 year US Treasury yields continue to spike higher above the much vaunted 3% level. This has caused a cascade of effects, exarcebated by the ongoing trade tensions between the US and China. This has been setting up for sometime as

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

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MacroBusiness Monday, October 15, 2018 - 09:00 Source

Let’s start with the good news at The Australian, a small bounce in TPP for the Government to slightly less than total destruction at 47-53: Now for the bad news at Domainfax which sees it only getting worse at 45-55: The difference may arise from how the two polls allocate preferences. Newspoll is based on

The post Morrison polling disastrous appeared first on MacroBusiness.

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Renew Economy Monday, October 15, 2018 - 08:59 Source

Following initial launches at the All Energy 2018 Conference and Exhibition, Selectronic are proud to add the new SelectSun solar inverter and Advanced Multi-Phase upgrade kit for the SP PRO multi-mode inverter to its product offering.

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MacroBusiness Monday, October 15, 2018 - 00:20 Source

By Leith van Onselen A few week’s back, we noted that the collapsing property sales volumes across Australia is a bad omen for prices: Over the weekend, Domainfax economist, Trent Wiltshire, posted interesting research on the collapsing sales volumes and what it means: In fact, the national housing turnover rate — the number of residential

The post Crashing sales a bad omen for housing and economy appeared first on MacroBusiness.

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MacroBusiness Monday, October 15, 2018 - 00:20 Source

The AFR ran some more interesting stuff over weekend, this time from former Credit Suisse analyst Mark Samter: “I think Bill Shorten should be held to account for his comments and to explain to the gas market, and to gas buyers because he has left it, I would argue deliberately opaque so that unions and

The post The choice is very simple: reserve gas or wreck Australia appeared first on MacroBusiness.

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MacroBusiness Monday, October 15, 2018 - 00:15 Source

DXY firmed, EUR and CNY fell Friday night: AUD was down a little: Market positioning is extremely short at -73.3k contracts. It has only been more stretched two weeks in history: With the market so short, it is difficult for the AUD to fall and easy for it to be squeezed higher on any good

The post Markets hit historic Australian dollar short as Wall Street takes off appeared first on MacroBusiness.

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MacroBusiness Monday, October 15, 2018 - 00:15 Source

By Leith van Onselen It’s been another weekend of spin and obfuscation from Australia’s ‘Big Australia’ mass immigration spruikers. Hot on the heels of the RBA’s propaganda late last week, we witnessed Australia’s go-to ‘demographer’, Dr Liz Allen, desperately attempt to gaslight the population in The SMH: “There’s a thing called the ‘ovarian lottery’,” she

The post ‘Big Australia’ propagandists double down on debunked lies appeared first on MacroBusiness.

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MacroBusiness Monday, October 15, 2018 - 00:12 Source

By Leith van Onselen Amid all the scaremongering from our Property Council Prime Minister, Scott Morrison, along with property industry vested interests, Bill Shorten is standing firm on Labor’s negative gearing and capital gains tax (CGT) policy, vowing to make homes more affordable. From The AFR: Bill Shorten says Labor will forge ahead with curbing

The post Shorten: negative gearing policy to stay, house prices to fall appeared first on MacroBusiness.

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MacroBusiness Monday, October 15, 2018 - 00:10 Source

CoreLogic released its auction report yesterday, which reported another anaemic weekend of auctions. The preliminary national auction clearance rate was just 50.7% versus 53.7% last weekend (later revised down to 49.5%). The preliminary clearance rate was also way below the 67.1% recorded in the same weekend of last year: Auction volumes nationally were 1850 –

The post Aussie property auction clearances keep on crashing appeared first on MacroBusiness.

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MacroBusiness Monday, October 15, 2018 - 00:10 Source

El Trumpo is as bold as ever, on Fox: “It’s had a big impact,” Trump said in a Fox News interview. “Their economy has gone down very substantially and I have a lot more to do if I want to do it. “I don’t want to do it, but they have to come to the

The post US quietly builds Cold War 2.0 coalition appeared first on MacroBusiness.

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MacroBusiness Monday, October 15, 2018 - 00:05 Source

This time hard data too, via Reuters: China’s car sales fell the most in nearly seven years in September, stoking concerns the world’s biggest auto market could contract for the first time in decades this year amid cooling economic growth and a biting trade war. Vehicle sales slumped by 11.6 percent to 2.39 million units

The post Another China indicator craters appeared first on MacroBusiness.

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MacroBusiness Monday, October 15, 2018 - 00:01 Source

Global Macro / Markets / Investing: Tesla needs over $1 billion in cash over the next 6 months, and Wall Street is going nuts figuring out where it’s going to come from – Business Insider Why Our Beliefs Don’t Predict Much About the Economy – NY Times A Billionaire’s Sears Fiasco Is Finally Nearing Its

The post Links 15 October 2018 appeared first on MacroBusiness.

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Harrangue Man Sunday, October 14, 2018 - 20:25 Source

I was too keyed up so I hit up a speaker before photos and had half a minute to make the pitch. I was nervous, stumbled and did a bad job. I caught myself pacing on the fail when I got home; for like a typo in a report that is a forever mistake and I have the fail sads. But you can only fail if you try; to not try is to never chance to succeed.Wheels within wheels, turns within turns.WFTW.

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Poll Bludger Sunday, October 14, 2018 - 20:15 Source

Round one of tonight's polling news produces a dismal result for the Coalition, with improving personal ratings for Scott Morrison offering scant comfort.

The post Ipsos: 55-45 to Labor appeared first on The Poll Bludger.

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The Australian Independent Media Network Sunday, October 14, 2018 - 19:39 Source

By George Theodoridis It seems to me that we have a pronounced, a phosphorescently obvious reluctance to employ women; and by “we” I don’t just mean we, the men, though I must admit we, the men, are by far the greater culprits of this reluctance but women also, some of whom surprise me with the…

The post To woo or not to woo? appeared first on The AIM Network.

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The Australian Independent Media Network Sunday, October 14, 2018 - 18:20 Source

By Nick Chugg The latest “brilliant” brain-fart to escape Scott Morrison’s (or as I prefer to refer to him – ScumMo) orifice is a doozy. As many LNP members have stated, we currently have the smartest most qualified party to ever grace the halls of Australian parliament. Of course, according to Scotty, the LNP’s latest…

The post So the LNP want to help the unemployed. What could possibly go wrong? appeared first on The AIM Network.

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Poll Bludger Sunday, October 14, 2018 - 16:13 Source

Bad polling in Tennessee and North Dakota reduces the Democrats’ chances in the Senate, while they improve slightly in the House. And how state elections impact federal electoral boundaries. Guest post by Adrian Beaumont.

The post US mid-terms minus twenty-five days appeared first on The Poll Bludger.

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The Australian Independent Media Network Sunday, October 14, 2018 - 13:12 Source

We are told over and over again that Christianity has shaped our history and our values.  Retired high court judge and chair of the Royal Commission into trade union governance and corruption, Dyson Heydon, had this to say on the matter: “The public voices of modern elites are not humble. They conceive themselves to have…

The post Australian society is under threat from the rise of Christianism appeared first on The AIM Network.

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