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Poll Bludger Friday, December 8, 2017 - 11:23 Source

An improved result for the Andrews government in Victoria, despite opposition to its stance on the East West Link.

The post Galaxy: 50-50 in Victoria appeared first on The Poll Bludger.

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MacroBusiness Friday, December 8, 2017 - 11:00 Source

Via The Australian: Malcolm Turnbull and top cabinet ministers have been slapped with a stinging rebuke from a former senior colleague over their plan to target “covert” agents who work for foreign ­powers, amid a political storm over Chinese influence in national affairs. Former trade minister Andrew Robb, who masterminded John Howard’s 1996 election victory,

The post Recidivist Robb, the special flower appeared first on MacroBusiness.

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xkcd.com Friday, December 8, 2017 - 11:00 Source

"Oh my God, why did you scotch-tape a bunch of hammers together?" "It's ok! Nothing depends on this wall being destroyed efficiently."

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MacroBusiness Friday, December 8, 2017 - 10:40 Source

By Leith van Onselen Treasurer Scott Morrison has downplayed modelling by the Parliamentary Budget Office (PBO), which suggests that productivity will need to increase in order to ensure that a Budget surplus is sustained. The Federal Government has forecast that it will post surpluses equivalent to 0.3 per cent of GDP from 2020-21, although this

The post Why the projected return to Budget surplus is deluded appeared first on MacroBusiness.

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The Australian Independent Media Network Friday, December 8, 2017 - 10:24 Source

By Christian Marx This week saw the mainstream media tripping over itself to welcome the obnoxious darling of the Fascists, Milo Yianopolous. Even weirder was the welcoming of this miscreant to Parliament House. Grubby indeed. For those unaware of Milo, he is the latest puppet of big business and far-right interests to divide the population…

The post Milo: Puppet for the wealthy 1% appeared first on The AIM Network.

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MacroBusiness Friday, December 8, 2017 - 10:20 Source

Shameless, out-of-touch and delusional: “Many Australians believe neither government nor big business are listening to them,” Origin Energy chief executive Frank Calabria told the annual survey of 52 top chief executives compiled by The Australian Financial Review’s Chanticleer columnists. …Outgoing Commonwealth Bank chief executive, Ian Narev, said business needs to change its message if it is to win

The post Australia’s dodgiest CEOs whine about “trust deficit” appeared first on MacroBusiness.

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Prosper Australia Friday, December 8, 2017 - 10:16 Source

Taxes on wages in Australia were fairly minimal until WWII, since which time they’ve been ratcheted up significantly. Federal taxes before the war consisted mainly of customs and excise charges and the federal land tax, introduced in 1910. The States and municipalities also levied land-based taxes. These played an important part in the development of […]

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MacroBusiness Friday, December 8, 2017 - 10:00 Source

Via Capital Economics:  China’s foreign exchange reserves suggest that capital outflows continued to be a non-issue last month. This has allowed the PBOC to step back from FX intervention which, over the medium term, should be supportive of renminbi appreciation.  The value of the reserves amounted to $3,119bn at the end of November,

The post China gets control of its currency appeared first on MacroBusiness.

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MacroBusiness Friday, December 8, 2017 - 09:40 Source

By Leith van Onselen The Reserve Bank of Australia (RBA) has released a Bulletin Article examining housing accessibility for first home buyers (FHBs), which finds that accessibility is especially poor in the immigration/investor hotspots of Sydney and Melbourne: A common measure of housing affordability is the ratio of mean housing prices to mean household disposable

The post RBA: Affordable housing vanishes in Sydney and Melbourne appeared first on MacroBusiness.

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MacroBusiness Friday, December 8, 2017 - 09:25 Source

By Chris Becker The King has returned, except in the realm of Bitcoin which goes from the sublime to the ridiculous, and Pound Sterling rose on efforts to keep the Brexit deal alive, despite the Irish entanglement. US stocks swept aside the poor Asian lead as the GOP Tax Bill gained momentum leading into tonight’s

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Friday, December 8, 2017 - 09:20 Source

By Leith van Onselen Back in June 2016, Mike Moynihan and Bob Birrell from the Australian Population Research Institute released a showing that the number of doctors has easily out-paced growth in the population, driven largely by a conga-line of overseas trained doctors (OTDs) that enter Australia to work in a regional area only to

The post Foreign doctor glut blows open mass immigration farce appeared first on MacroBusiness.

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MacroBusiness Friday, December 8, 2017 - 09:00 Source

By Leith van Onselen Back in July, it was reported that Melbourne’s water storages could dry-up as the combination of climate change meets rapid immigration-fuelled population growth: Melbourne could begin to experience chronic water shortages within about a decade, even if the desalination plant is cranked up to its full capacity, as climate change and

The post Population ponzi to double household water bills appeared first on MacroBusiness.

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MacroBusiness Friday, December 8, 2017 - 08:30 Source

By Leith van Onselen ANZ has released new research examining the impact of foreign property purchases on the Australian housing market: The research shows foreign investors purchased between 35,000 and 60,000 dwellings in Australia in 2015-16, with foreign buyers making up only a small share of total housing turnover for the year, between 7 per

The post ANZ: Foreigners purchasing 7% to 13% of Australian homes appeared first on MacroBusiness.

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Cheeseburger Gothic Friday, December 8, 2017 - 07:25 Source

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The Australian Independent Media Network Friday, December 8, 2017 - 06:00 Source

Friday 8 December 2017 The comments arising from my post yesterday were wide and varied. Here are a few that support either side of my argument. Neil Hogan – Facebook “The fact that Shorten was so adamant that Labor had no problems has turned into an own goal, whether the government can add to that…

The post Day to Day Politics: Who is winning the citizenship debate? appeared first on The AIM Network.

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MacroBusiness Friday, December 8, 2017 - 04:39 Source

DXY firmed last night, helped by a weak EUR coming out of a big miss in German industrial production: AUD broke support and is at new lows in a correction with no real end in sight: It was mixed against EM forex: Gold was smacked, auguring more DXY strength: Brent rebounded: Base metals a little

The post Australian dollar falls to new lows appeared first on MacroBusiness.

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MacroBusiness Friday, December 8, 2017 - 04:38 Source

It’s now doubled in 21 days: At that rate it will surpass the $79tr global economy in value in roughly five months. Lunacy is setting in, via FTAlphaville comes five reasons: 1) The spread between the top three exchanges offering your product is no less than… $4,000. 2) The utility function of your “currency” product is compromised

The post Bitcoin on track to topple global economy in five months appeared first on MacroBusiness.

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Poll Bludger Friday, December 8, 2017 - 03:24 Source

Last week's poll aggregate spike to Labor washes out after some better results for the Coalition.

The post BludgerTrack: 53.7-46.3 to Labor appeared first on The Poll Bludger.

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Poll Bludger Friday, December 8, 2017 - 02:30 Source

The result, barring big surprises at the eleventh hour: Labor 48, LNP 39, Katter's Australian Party three, One Nation, Greens and independents one apiece.

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

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Poll Bludger Friday, December 8, 2017 - 02:18 Source

An occasional Tasmanian state polling series finds the state's Liberal government in dire trouble months out from its first bid for re-election.

The post EMRS: Liberal 34, Labor 34, Greens 17 in Tasmania appeared first on The Poll Bludger.

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MacroBusiness Friday, December 8, 2017 - 00:30 Source

And for good reason. China has proven to be much more interested in Australian’s welfare than our own leaders have. It is China that has stopped the flow of capital into Australian property, not local leaders. It is China that wants an extradition treaty so it can retrieve corrupt officials and money from Australian markets,

The post I, for one, welcome our new Chinese overlords appeared first on MacroBusiness.

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MacroBusiness Friday, December 8, 2017 - 00:20 Source

By Leith van Onselen Wednesday’s national accounts release for the September quarter confirmed that Australia’s FIRE economy – Finance, Insurance and Rental, Hiring & Real Estate Services – continues to bleed its host, rising to a new record high (11.9%) share of the Australian economy: Since financial markets were first deregulated in the mid-1980s, the

The post FIRE sector vampire continues to bleed its host appeared first on MacroBusiness.

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North Coast Voices Friday, December 8, 2017 - 00:16 Source

According to the state-owned corporation Port Authority of New South Wales, during the 2017-18 cruise season which commenced in October, international cruise ships will be visiting Sydney, Newcastle, Port Kembla and Eden.On its website the Authority proudly announced an

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MacroBusiness Friday, December 8, 2017 - 00:15 Source

By Leith van Onselen The slow deflation of Sydney’s housing market has continued for the 13th consecutive week, with CoreLogic’s dwelling values index registering another 0.2% decline, with values down a cumulative 1.7% over that 13-week period, and dwelling values also down 1.4% over the past 18-weeks: Sydney’s quarterly growth rate continues to turn negative,

The post Sydney house prices fall for 13th consecutive week appeared first on MacroBusiness.

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North Coast Voices Friday, December 8, 2017 - 00:15 Source

" We, the Wangan and Jagalingou people, are the Traditional Owners of the land in Queensland’s Galilee Basin. Corporate conglomerate, Adani, wants to use our ancestral lands for their Carmichael coal mine.We do hereby firmly REJECT a Land Use Agreement with Adani for the Carmichael mine on our traditional lands.We DO NOT consent to the Carmichael mine on our ancestral lands.We DO NOT accept Adani’s “offers” to sign away our land and our rights and interests in it.

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MacroBusiness Friday, December 8, 2017 - 00:10 Source

By Leith van Onselen In the week ended 7 December 2017, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, fell another 0.08%: Values fell in Sydney but rose in Melbourne and Adelaide, and were dead flat in Brisbane and Perth: So far in 2017, home values have risen

The post CoreLogic weekly Australian house price update appeared first on MacroBusiness.

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MacroBusiness Friday, December 8, 2017 - 00:05 Source

Iron ore price charts for December 7, 2017: Tianjin benchmark fell $1.30 to $66.40. Paper went limit down at the close yesterday but added a little overnight. Steel came off. The trigger for the bust was more futures price hikes, via Reuters: China’s commodity exchanges have hiked transaction fees and margin requirements for a range

The post Daily iron ore price update (limit down) appeared first on MacroBusiness.

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MacroBusiness Friday, December 8, 2017 - 00:04 Source

Via Credit Suisse: While outbound Chinese M&A slowed in 2017, we expect it to accelerate in 2018. The almost singular focus on “stability” leading up to the 19th Party Congress resulted in increased capital controls and a fall in outbound M&A, in our view. This was in stark contrast to developments in 2016 when Chinese

The post Has China reopened the capital outflows floodgates? appeared first on MacroBusiness.

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MacroBusiness Friday, December 8, 2017 - 00:03 Source

Over the coming weeks weeks, MB will roll out a series of primer presentations on various key topics, which are aimed at getting newer readers up to speed, as well as providing an easy-to-digest reference point. Today’s presentation covers Australia’s future of energy – a key theme that has been thrashed-out on MB over recent

The post MB primer: The future of energy appeared first on MacroBusiness.

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MacroBusiness Friday, December 8, 2017 - 00:01 Source

Global Macro / Markets / Investing: Coinbase: The Heart of the Bitcoin Frenzy – NY Times Bitcoin Explodes Above $14,000 – Korean PM Fears “Serious Pathological Phenomena” – Zero Hedge Stronger Labor Unions Could Do a Lot of Good – Bloomberg Move Over, Cushing: Houston Emerges as Key Oil Trading Hub – WSJ The 2018

The post Links 8 December 2017 appeared first on MacroBusiness.

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