Blogotariat

Oz Blog News Commentary
Renew Economy Monday, August 19, 2019 - 12:35 Source

Another milestone for Palisade Investment Partners' 112MW Granville Harbour wind farm, which promises to deliver a one-third increase to the state’s wind power capacity.

Read more Views: 27
MacroBusiness Monday, August 19, 2019 - 12:30 Source

Via Domain: Ambassador Cheng Jingye told The Sydney Morning Herald and The Age that the affairs of Hong Kong were “solely the internal affairs of China”, warning that any effort to “mess up” the former British outpost was doomed to fail as pro-democracy protesters there again gathered en masse on Sunday. …The intervention follows escalating

The post What happens to 100k Aussies if CPC smashes Hong Kong? appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Read more Views: 29
MacroBusiness Monday, August 19, 2019 - 12:15 Source

Via Robert Rennie at Westpac: Westpac A$ ‘fair value’ down 7% so far this quarter, with the 12% drop in Westpac export weighted commodity price index over the same period being a key driver. Midpoint for fair value model is now at 0.6550, above 0.68 the A$ would be deemed ‘expensive’ by this model.

The post Westpac Australian dollar fair value model crashes appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Read more Views: 28
MacroBusiness Monday, August 19, 2019 - 12:00 Source

Via Martin North: New research commissioned by the construction union has revealed that Australia’s building and construction crisis will cost $6.2 billion in remediation and associated costs. The independent research, undertaken by Equity Economics and contained in the report ‘Shaky Foundations: The National Construction Crisis’ being launched today, analysed the additional costs to owners of remediating water

The post Cracked apartment bill rises above $6bn appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Read more Views: 48
MacroBusiness Monday, August 19, 2019 - 11:45 Source

Via the AFR: Andrew Forrest’s pioneering gas import venture has approached the NSW government seeking approval to potentially double the capacity of the reprocessing terminal it plans to install at Port Kembla. Australian Industrial Energy, which is half owned by the iron ore billionaire, formally flagged the need to restart its approvals process in meetings

The post Another LNG import delay appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Read more Views: 26
MacroBusiness Monday, August 19, 2019 - 11:30 Source

Via Dr Ed Yardeni: The Fed, the European Central Bank (ECB), and the Bank of Japan (BOJ) came up with lots of headline-grabbing shock-and-awe programs over the past 10 years in reaction to the Great Financial Crisis. Over time, they seemed to lose their effectiveness and ability to shock or awe. Nevertheless, the US economy

The post The great inflation delusion appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Read more Views: 27
MacroBusiness Monday, August 19, 2019 - 11:15 Source

Michelle Grattan has penned a spurious article claiming that raising the compulsory superannuation guarantee from the current 9.5% to 12% is essential to ensure adequate savings in retirement as well as to save the federal budget future Aged Pension costs: The temptation for scrapping the rise, or having some “opt-out” system, becomes stronger when wages

The post Michelle Grattan fails in superannuation spruik appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Read more Views: 27
The Australian Independent Media Network Monday, August 19, 2019 - 11:12 Source

In a remarkable series of statements, former Prime Minister Malcolm Turnbull has defended his successor Scott Morrison’s ‘approach’ to climate change. It truly is amazing that Mr. Turnbull can continue to defend the dinosaurs in his party. The statement you can take the man out of the party but not the party out of the…

The post Once and Forever A Puppet: Turnbull, Sco Mo and Climate Change appeared first on The AIM Network.

Read more Views: 21
MacroBusiness Monday, August 19, 2019 - 11:00 Source

The ScoMo Government is a masterful fake. It is currently pretending to cut immigration, pretending to reform banking, pretending to build infrastructure, pretending to be a good economic manager, pretending to care about weak wages, pretending to care about energy prices, pretending to care about anything and everything other than rising house prices. This we

The post Now for some fake “trust in government” reform appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Read more Views: 21
MacroBusiness Monday, August 19, 2019 - 10:45 Source

Via the ABC: Treasurer Josh Frydenberg has revealed an “implementation road map” around the 54 recommendations from the financial services royal commission that called for Government action. The final report from commissioner Kenneth Hayne made 76 recommendations, 54 of which were directed at the Government, which has been accused of dragging its feet in response to the

The post Recessionberg undertakes bogus Hayne bank reform appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Read more Views: 25
Prosper Australia Monday, August 19, 2019 - 10:43 Source

Cross-posted from the Australian Financial Review The federal government’s infrastructure advisory body is facing criticism for stepping back from an ambitious reform agenda outlined little more than a year ago, with its latest audit silent on road user charges, service privatisation and land tax reform. Infrastructure Australia released a new national infrastructure audit this week, […]

Read more Views: 20
MacroBusiness Monday, August 19, 2019 - 10:30 Source

Via Morgan Stanley today As regular readers know, Morgan Stanley is pretty bearish on global risk assets. This applies to emerging markets (EM) too, where we’ve been calling for wider credit spreads, weaker EM currencies, particularly in Asia, and lower equity prices. However, not so long ago the narrative guiding investors ran something like this: The

The post MS: Global economy slowing fast appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Read more Views: 20
The Australian Independent Media Network Monday, August 19, 2019 - 10:20 Source

In an astonishing display of projection, Scott Morrison has blamed the public service for the “trust deficit” in politics. He then goes on with the most contradictory set of instructions on how they will change in order to win back the respect of the forgotten middle. Morrison wants a “diversity of viewpoints” whilst warning public…

The post “Stale conventional wisdoms and orthodoxies” appeared first on The AIM Network.

Read more Views: 24
MacroBusiness Monday, August 19, 2019 - 10:15 Source

From its quarterly update this morning: Still low but on the march upwards. It should keep getting worse with the economy. It’s the same story as other banks, entering zombie status as rising provisions meets low credit growth.

The post Westpac joins rising bad loans club appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Read more Views: 21
The Tally Room Monday, August 19, 2019 - 10:00 Source

Along with the Northern Territory, Western Australia and Brisbane City Council, the ACT has also been redrawing its electoral boundaries for the local Legislative Assembly, with the boundaries finalised in July.

In this post I’ll share a map showing the changes to the electoral boundaries, along with my estimates of the vote percentages for the bigger parties in each electorate before and after the redistribution.

Read more Views: 26
MacroBusiness Monday, August 19, 2019 - 10:00 Source

Texture from Reuters: Brazil’s Vale SA, the world’s largest iron ore exporter, said it had to temporarily halt operations at the Viga concentration plant that is part of its newly-acquired Ferrous Resources do Brasil due to a permit problem, impacting some 330,000 tonnes of iron ore production a month. But it said the suspension would

The post Daily iron ore price update (Vale again) appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Read more Views: 18
MacroBusiness Monday, August 19, 2019 - 10:00 Source

No QE says monetary curmudgeon Stephen Grenville: QE1 was a powerful instrument in rescuing key financial markets which had frozen, but this experience has no relevance for Australia in the foreseeable future. When the current monetary system was put in place in Australia in the 1980s, ‘free markets’ were the lodestone of policy. The RBA

The post Recessionberg demands QE appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Read more Views: 19
xkcd.com Monday, August 19, 2019 - 10:00 Source

I also have an utterance. Less of an utterance and more of an incantation. Less of an incantation and more of a malediction. Less of a malediction and more of a Word of Power. Less of a Word of Power and more of an Unforgivable Curse.

Read more Views: 16
MacroBusiness Monday, August 19, 2019 - 09:45 Source

Via the AFR over the weekend: The Australian Prudential Regulation Authority is looking for a new head of policy and advice, following the resignation this week of Pat Brennan, who had responsibility for developing the regulator’s policies on banks, insurers and super funds. Mr Brennan’s surprise resignation after more than eight years at APRA creates

The post Another APRA head goes as failed Byers hangs on appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Read more Views: 27
Your Democracy Monday, August 19, 2019 - 09:33 Source

MachiavelliMachiavelliSlowly but surely we come to “understand” politics. 

read more

Read more Views: 8
MacroBusiness Monday, August 19, 2019 - 09:30 Source

The Australian Bureau of Statistics last week released its overseas short-term arrivals and departures figures for June, which revealed that Chinese visitors are beginning to avoid Australia. The number of short-term visitor arrivals fell by 1.2% in June in original terms, whereas short-term resident departures rose by 12.4% over the month. The ratio of annual

The post Chinese tourists shun Australia appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Read more Views: 30
MacroBusiness Monday, August 19, 2019 - 09:30 Source

By Chris Becker  No news means good news for risk markets with Wall Street rallying on Friday night, with currency markets stabilising although Pound Sterling got a bit excited on more hard line Brexit gyrations. The USD remains steady while safe havens like Yen and gold are also largely unchanged with only Euro dropping on

The post Macro Morning appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Read more Views: 29
MacroBusiness Monday, August 19, 2019 - 09:15 Source

I was short and dirty, via The Australian: The Coalition’s commanding electoral lead over Labor has slipped, in a sign the post-election honeymoon for the government has ended amid growing concerns over the economy and a clash over climate change. An exclusive Newspoll conducted for The Australian shows the Coalition has lost its post-election gains

The post Newpoll: Scummo honeymoon ends appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Read more Views: 27
THE BLOT REPORT Monday, August 19, 2019 - 09:00 Source

It is suspected that
the Morrison government will spend our money to keep the archaic Liddell
coal-fired power station open or even to build a coal-fired power station1.
This, as any climate scientist will tell you is vandalism, and as any economist
will tell you is a ludicrously poor investment. However, for the government,
these are of no concern. Not only does the government deny climate science, but
their economic concern is not for the nation or the people in it, but for donations
to their political parties. However, I digress.

Read more Views: 28
John Quiggin Monday, August 19, 2019 - 06:18 Source

That’s the provisional title I used for my latest piece in Inside Story. Peter Browne, the editor, gave it the longer and clearer title “Want to reduce the power of the finance sector? Start by looking at climate change”.

The central idea is a comparison between the process of decarbonizing the world economy and that of definancialising it, by reducing the power and influence of the financial sector. Both seemed almomst impossible only a decade ago, but the first is now well under way.

Read more Views: 29
John Quiggin Monday, August 19, 2019 - 06:00 Source

A new sandpit for long side discussions, conspiracy theories, idees fixes and so on.

Read more Views: 27
John Quiggin Monday, August 19, 2019 - 05:59 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

http://eepurl.com/dAv6sX You can also follow me on Twitter @JohnQuiggin, at my Facebook public page   and at my Economics in Two Lessons page

Read more Views: 28
MacroBusiness Monday, August 19, 2019 - 00:15 Source

What is a democracy to do with a protest movement against itself? The Fake Left Saturday Paper sums up the problem: In Clive Hamilton’s view, these are serious matters. “Events like these give pause to the public that is not formerly focused on the issue of CCP influence to say, ‘What the hell is going on?’ ” says

The post Time to slash immigration in the national interest appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Read more Views: 30
MacroBusiness Monday, August 19, 2019 - 00:10 Source

The inquiry into NSW building standards on Friday featured the state’s new building commissioner, David Chandler, who lambasted the dodgy builders and engineers behind Sydney’s apartment crisis. From The SMH: “It’s time for the NSW building industry to be different,” Mr Chandler, an experienced builder and manager who was last month appointed to the position by

The post NSW building commissioner slams construction cowboys appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Read more Views: 30
MacroBusiness Monday, August 19, 2019 - 00:10 Source

DXY was up Friday night and looks close to break out. EUR and CNY fell: The Australian dollar lifted anyway on the risk rebound: It was stronger than EMs too: CFTC positioning became is now extended bearish at -61k contracts: Gold eased: Oil was stable: Metals soft: Miners too: EM stocks firmed: And junk: Treasuries

The post Australian dollar to keep falling as America First powers on appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Read more Views: 26

Pages