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Your Democracy Wednesday, December 5, 2018 - 08:31 Source
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MacroBusiness Wednesday, December 5, 2018 - 08:30 Source

By Chris Becker Big falls overnight as risk sentiment reversed and then slumped as it became apparent that The Great Deal Maker was full of hot air over the US/Chinese trade war truce. US stocks were drowned in a bath of blood, down nearly 4%, with the US 10 year Treasury yield also down considerably

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 5, 2018 - 08:30 Source

Via AIG: Business-oriented services sectors: The Australian PSI® indicated expansion in only two of the five business-oriented sectors in November (trend). Business & property services reported good demand from infrastructure construction projects and communications services also described positive conditions. Businesses in the wholesale trade sector reported contracting activity after being stable the previous month. Finance

The post Black Friday delivers PSI bounce appeared first on MacroBusiness.

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Poll Bludger Wednesday, December 5, 2018 - 08:15 Source

A week and a half on, the finishing touches are being applied to Victoria's rather extraordinary election result.

The post Victorian election endgame appeared first on The Poll Bludger.

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MacroBusiness Wednesday, December 5, 2018 - 07:54 Source

DXY was slammed then bud last night. EUR is stable. CNY on a tear: AUD flamed out across DMs: EMs were worse: Gold is breaking out as Fed easing looms: OPEC couldn’t get  bid under oil. Just as well, markets would not like it now: Base metals were mixed: Miners fell: EM stocks were smashed:

The post Australian dollar flames out as global stocks plunge appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 5, 2018 - 00:20 Source

It’s very, very simple. Australia now has an economy that serves a very few elites and rorts everybody else. This is most obvious in income: Corrupted by politics or blinded by economic ideology, the doyens in our institutions simply don’t get it. They are focused and happy with GDP as the only measure of progress

The post It’s the per capita economy, stupid! appeared first on MacroBusiness.

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Digitopoly Wednesday, December 5, 2018 - 00:19 Source

Economists like to say that there are no free lunches. How does that attitude apply to free software and services? It is no secret that many prominent platforms give away services, and so do many widely used open-source projects. The answer should help us understand our world.

While it costs next to nothing to replicate an existing piece of software, someone had to design and debug it in the first place. That takes resources. Therefore, giving away software is not just about making it—to use the lingo of open source—“free as in freedom.” Giving away software really is the same as giving away free beer.

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MacroBusiness Wednesday, December 5, 2018 - 00:15 Source

Golden boy of the Australian left, David Marr, yesterday pounced upon a new Scanlon Foundation survey at The Guardian: Australia has not lost faith in immigration. The political narrative has darkened but not the fundamental view of ourselves as an immigrant nation. Most of us remain convinced that we are in so many ways better

The post David Marr joins Scanlon’s troupe of useful idiots appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 5, 2018 - 00:15 Source

By Leith van Onselen With Australia’s housing correction now dragging on for 14 months, and peak-to-trough declines totalling 5.5% at the capital city level, it’s an opportune time to compare this correction to prior episodes. The below chart shows the various dwelling corrections over the past 30-plus year at the 8-city level, as measured by

The post How Australia’s housing correction compares with history appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 5, 2018 - 00:10 Source

Via the AFR: Suncorp is attempting to improve insights on living expenses and lending on mortgage borrowers by requiring a minimum of three months statements for all credit liabilities, including home and personal loans, overdrafts, lines of credit and any other loan facility statements. …Macquarie Bank customers will need to be able to demonstrate they

The post Mad Macquarie sucked into mortgage crackdown appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 5, 2018 - 00:10 Source

By Leith van Onselen From SQM Research comes stock on market figures for the month of November, which reported a 7.9% jump in total for sale listings over the month and an 8.1% increase over the year, driven by massive rises in Melbourne and Sydney: Over the year, for sale listings rose across all markets

The post Louis Christopher: Sydney and Melbourne “flooded with stock” appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 5, 2018 - 00:10 Source

More folks turning uber-bearish. Yesterday it was Deutsche: At best, mortgage growth will continue to slow as deleveraging works its way through the economy constraining house prices and discretionary spend, but it’s unlikely to be beautiful. At worst, we confront the Irish-like scenario. However, we think it’s unlikely to reach the Irish heights of 25

The post Dire warnings for Aussie property mount appeared first on MacroBusiness.

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MacroBusiness Wednesday, December 5, 2018 - 00:01 Source

 Global Macro / Markets / Investing: Bitcoin is close to becoming worthless – MarketWatch The Crypto Winter Is Here and We Only Have Ourselves to Blame – Coin Desk The digital-media bubble is bursting. That’s hurting a generation of promising young journalists. – Washington Post Climate change ’greatest threat’, UN told – BBC How to

The post Links 5 December 2018 appeared first on MacroBusiness.

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Harrangue Man Tuesday, December 4, 2018 - 23:00 Source

I'd accidentally gotten hooked on The Crown then got to the episode about schooling—the sentencing of a child to an institution that is in no way applicable to that child. In this case Prince Charles being sent to a horror show in the highlands where cold showers and dawn runs were the norm. He hated it; every year. So I got triggered. I got triggered seeing his shitty school experience in mine; of being a square peg in an institution for round people and suffering as a result. I got angry and stopped watching it. Then got angry again when I finished the ep.

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Renew Economy Tuesday, December 4, 2018 - 18:39 Source

A stocktake of which governments are now offering programs to bolster the uptake of home battery storage in Australia.

The post Home battery storage subsidies and support schemes: What’s available and where appeared first on RenewEconomy.

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The Australian Independent Media Network Tuesday, December 4, 2018 - 18:37 Source

(Love: The lost child of sophistication.) Love … Do we even know what it means anymore? And if we did, how many of us would be willing to “throw it all over” … our whole lives … on a whim of passionate emotion … I mean, now that we are all aware and sophisticated and…

The post The Hollowed Stone appeared first on The AIM Network.

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Renew Economy Tuesday, December 4, 2018 - 18:33 Source

Macquarie Uni researcher claims car parks in an EV future have the potential to become power plants bigger than South Australia's Tesla big battery.

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Renew Economy Tuesday, December 4, 2018 - 18:28 Source

A new Kia electric car and updated Niro unveiled by South Korean carmaker Kia as they prepare for launch in Europe and North America.

The post Kia unveils new all-electric Soul at LA Auto Show appeared first on RenewEconomy.

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MacroBusiness Tuesday, December 4, 2018 - 17:00 Source

The positive mood from the weekend’s G20 meeting has turned sour as the Trump trade “deal” between China and the US has fizzled into empty promises with both sides dialing back expectations. No surprises there. Stocks have retreated with the US Treasury yield curve inverting once more while the US fell against Yen and the other majors.

The post Macro Afternoon appeared first on MacroBusiness.

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The Australian Independent Media Network Tuesday, December 4, 2018 - 16:28 Source

Oscar Wilde famously warned that one should never trust a woman who revealed her true age; anyone so inclined to do so was bound to tell you anything. He also, in his characteristic stab at modern manners, suggested that no woman should be quite on the money about her age for another reason: “It looks…

The post Lying About Age: The Legal Efforts of Emile Ratelband appeared first on The AIM Network.

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Renew Economy Tuesday, December 4, 2018 - 15:17 Source

The introduction of a new solar battery will put Australians one step closer to achieving the dream of a $0 electricity bill.

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Renew Economy Tuesday, December 4, 2018 - 15:14 Source

Some of the massive 67m turbine blades delivered to the 453MW Coopers Gap Wind Farm in Queensland in September are now up and and ready to spin.

The post First turbines up and spinning at Australia’s largest wind farm appeared first on RenewEconomy.

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Renew Economy Tuesday, December 4, 2018 - 15:08 Source

Angus TaylorThe federal Coalition is systematically undermining the basis of the private ownership of the electricity market in Australia. Legal rights are being cut back at every turn.

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Renew Economy Tuesday, December 4, 2018 - 14:40 Source

Administrators of RCR Tomlinson move to extract the contracting and engineering giant from the solar business that appears to have torpedoed the company's finances.

The post RCR administrators move to close down solar business appeared first on RenewEconomy.

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MacroBusiness Tuesday, December 4, 2018 - 14:32 Source

The RBA is out with its latest hold. The statement: At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent. The global economic expansion is continuing and unemployment rates in most advanced economies are low. There are, however, some signs of a slowdown in global trade, partly stemming from ongoing

The post RBA holds, yawn appeared first on MacroBusiness.

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Renew Economy Tuesday, December 4, 2018 - 14:25 Source

Canberra Institute of Technology and ACT network operator Evoenergy will test up to 100% hydrogen across grid in situations where natural gas currently used.

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MacroBusiness Tuesday, December 4, 2018 - 14:19 Source

Some light relief today from Maccas as we await the RBA: A study recently conducted by researchers at London Metropolitan University found that touchscreens used by customers at multiple McDonald’s locations were covered in fecal bacteria. Dr. Paul Matawele, one of the lead researchers in the study, explained that the spread of this bacteria could lead

The post Would you like poo with your burger? appeared first on MacroBusiness.

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MacroBusiness Tuesday, December 4, 2018 - 14:13 Source

Talk about not getting the memo: Assistant Treasurer Stuart Robert will headline a Liberal Party fundraiser that promises political donors an insight into the government’s potential response to the banking royal commission. …”It’s appalling and disgusting that after voting against a banking royal commission 26 times, Scott Morrison and the Liberals now want to make

The post Coalition offers fund raiser for Hayne response insights appeared first on MacroBusiness.

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MacroBusiness Tuesday, December 4, 2018 - 13:30 Source

By Leith van Onselen John Wilson – the managing legal director of BAL Lawyers and an accredited specialist in industrial relations and employment law – has penned an interesting article in Fairfax on the increasing spending on contractors by federal governments and agencies over recent years, which has come as the Australian Public Service (APS) has

The post Federal government is a key player in the ‘gig’ economy appeared first on MacroBusiness.

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MacroBusiness Tuesday, December 4, 2018 - 13:15 Source

By Leith van Onselen Rail transport should be in my DNA. My father ran Victoria’s freight railway system for many years and I grew up around trains. I even spent six months post university working in ‘the business’. Even with this background, I have never understood why politicians, ‘experts’ and commentators have an inherent bias

The post Why high speed rail is unviable appeared first on MacroBusiness.

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