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MacroBusiness Thursday, June 14, 2018 - 05:40 Source

DXY and EUR was virtually unchanged overnight: AUD was weak against DMs and fell sharply after the Fed (for about five minutes before rebounding): EM FX was mixed: Gold is still bogged: Oil jumped at falling US inventories: Base metals eased: Big miners eased up: EM stocks fell: EM junk knows only one way. The

The post Fed whacks Australian dollar appeared first on MacroBusiness.

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Poll Bludger Thursday, June 14, 2018 - 05:07 Source

Federal electoral news nuggets, sourced from Western Australia and the Australian Capital Territory.

The post Mid-week miscellany appeared first on The Poll Bludger.

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MacroBusiness Thursday, June 14, 2018 - 04:07 Source

There’s no way to put a good interpretation upon the BTC crash chart. The bearish descending triangle is broken on daily, weekly and monthly charts: All we need now is to break the intra-day low at $6k and it’s free-fall time. The renewed selling came as the NYT caught up with the great Tether-ponzi: A

The post Bitcoin crash accelerates as Tether fingered appeared first on MacroBusiness.

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MacroBusiness Thursday, June 14, 2018 - 00:20 Source

Yesterday I attended a Capital Economics event with Paul Dales that addressed this question. The presentation first noted the huge over-valuation of property with Sydney and Melbourne 30% above sustainable trend, as well as the huge household debt imbalance we all know. It also noted the high likelihood of further price falls: In exploring the

The post Is Australia headed for a financial crisis? appeared first on MacroBusiness.

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MacroBusiness Thursday, June 14, 2018 - 00:20 Source

By Leith van Onselen Of all the idiotic housing reports that I have read in my time, the Aussie Home Loans / CoreLogic 25 years of Housing Trends report has to be among the worst. According to this report, the median Sydney house price could exceed $6.3 million in 25 years whereas Melbourne’s median house price

The post Aussie Home Loans: Sydney house prices to top $6.3 million in 25 years appeared first on MacroBusiness.

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MacroBusiness Thursday, June 14, 2018 - 00:20 Source

By Leith van Onselen NAB’s latest Australian Wellbeing Report has revealed that Australian wellbeing fell to a new survey low 62.8 points in Q1 2018, with home ownership holding the key: Australians who live in and own their house or apartment report much higher levels of overall wellbeing than those who rent, according to new research released

The post Big Australia destroys Aussies’ happiness appeared first on MacroBusiness.

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MacroBusiness Thursday, June 14, 2018 - 00:10 Source

By Leith van Onselen While the Turnbull Government and the Business Council of Australia (BCA) continue to push the Senate to lower Australia’s company tax rate to 25% from 30%, the impact from the recent US corporate tax cuts continues to disappoint, sounding a warning signal for Australia’s senators. After it was revealed last month

The post Trumps corporate tax cuts blows-out US Budget deficit appeared first on MacroBusiness.

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MacroBusiness Thursday, June 14, 2018 - 00:05 Source

Iron ore price charts for June 13, 2018: Tianjin benchmark fell 15 cents to $65.80. Paper is running on the spot. Steel is strong again. Output for late-May at CISA mills pulled back to a slightly less astonishing 1.95mt per day. Iron ore spot appears to be decoupling with paper a little, not to mention

The post Daily iron ore price update (more steel) appeared first on MacroBusiness.

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MacroBusiness Thursday, June 14, 2018 - 00:01 Source

Global Macro / Markets / Investing: Tesla to cut about 9% of jobs across company – CNBC Tesla is laying off ‘about 9%’ of its workforce as it ‘restructures’ the company – Electrek What Helps or Hurts Investment Returns? Here’s a Ranking – Bloomberg Demographics and long-run growth – VOX Cryptocurrencies Lose $46 Billion After

The post Links 14 June 2018 appeared first on MacroBusiness.

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Digitopoly Wednesday, June 13, 2018 - 23:51 Source

I’m at the Brookings Institution today for an event which will, in part, be the launch of my report for The Hamilton Project on “Enhancing Competition with Data and Identity Portability.” You can download the report here and here is the tl;dr summary. The Hamilton Project have also released

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Renew Economy Wednesday, June 13, 2018 - 21:14 Source

The battery – which is capable of generating 2 MW of power for one hour – will be used to optimise spinning reserve and is expected to save hundreds of thousands in maintenance and fuel costs in the process.

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Renew Economy Wednesday, June 13, 2018 - 20:44 Source

Light source BP has unveiled plans to offer no-deposit rooftop solar and battery storage packages to Australian households.

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George Monbiot Wednesday, June 13, 2018 - 20:06 Source

Defending the living world and its people requires a shift from meat to a plant-based diet

By George Monbiot, published in the Guardian 8th June 2018

Whether human beings survive this century and the next, whether other lifeforms can live alongside us: above all this depends on the way we eat. We can cut our consumption of everything else close to zero and still drive living systems to collapse, unless we change our diets.

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MacroBusiness Wednesday, June 13, 2018 - 17:39 Source

Asian stock markets have reverted to a risk-off attitude mainly due to the forthcoming FOMC meeting tonight or in a very short term reaction to Trump’s extension of his trade war to China, with tariffs likely to ahead on Friday. The Shanghai Composite had a poor session, closing over 1% lower to 3047 points, accelerating that selloff

The post Macro Afternoon appeared first on MacroBusiness.

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The Australian Independent Media Network Wednesday, June 13, 2018 - 16:00 Source

Everything about this summit is in the showy warm-up run. “I am on my way to Singapore,” tweets US President Donald J. Trump, “where we have a chance to achieve a truly wonderful result for North Korea and the World.” Such descriptions from America’s ever hustling television president tend to become child like, whether glowingly…

The post Meeting on the Island of Death From Behind: The Kim-Trump Summit appeared first on The AIM Network.

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Renew Economy Wednesday, June 13, 2018 - 14:43 Source

An increasingly change-averse political right wing is driving transport to the front line of Australia's climate wars. Can Labor get their policy act together and stop us from becoming another Cuba, a living museum for petrol and diesel cars?

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Renew Economy Wednesday, June 13, 2018 - 14:43 Source

An increasingly change-averse political right wing is driving transport to the front line of Australia's climate wars. Labor's Mark Butler on why it's time for Australia to embrace the transition, or risk becoming another Cuba, a living museum for petrol and diesel cars.

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The Australian Independent Media Network Wednesday, June 13, 2018 - 14:42 Source

The trouble with neoliberalism is it focuses on the how and not on the why. The result of this headlong pursuit of continuous growth is a concentration of wealth in the hands of a few while the vast majority are mired in poverty.  At the same time, environmental degradation in the pursuit of profit, and…

The post We have forgotten what is important let alone how to fight for it appeared first on The AIM Network.

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MacroBusiness Wednesday, June 13, 2018 - 14:40 Source

From Phil Lowe today: I would like to thank Australian Industry Group (Ai Group) for the invitation to speak at this lunch today. I have participated in many Ai Group events over the years and I have always valued hearing from your members, so it is a pleasure to be here in Melbourne today. The

The post Phil Lowe: No wages, no inflation appeared first on MacroBusiness.

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Renew Economy Wednesday, June 13, 2018 - 14:40 Source

Investors are about to get unparalleled access to the best clean technology start-ups in Australia thanks to a new angel investment group launched by EnergyLab.

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Renew Economy Wednesday, June 13, 2018 - 14:39 Source

Why electricity is more than just a means to various ends.

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Renew Economy Wednesday, June 13, 2018 - 14:32 Source

Falling costs of wind and solar in Indian auctions leaves big coal plant idle and inspires government to significantly lift its renewables targets.

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Renew Economy Wednesday, June 13, 2018 - 14:32 Source

Falling costs of wind and solar in Indian auctions leaves big coal plant idle and inspires government to significantly lift its renewables targets.

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MacroBusiness Wednesday, June 13, 2018 - 14:30 Source

By Leith van Onselen Bike sharing company oBikes has announced that it will leave Melbourne following the Victorian Government’s crack-down on the company, which classified abandoned bikes as litter and potentially liable for $3,000 fines. From The ABC: …oBike announced it would abandon its problematic local hire scheme. …the distinctive yellow bicycles quickly caused headaches

The post oBikes suffered from the “tragedy of the commons” appeared first on MacroBusiness.

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Renew Economy Wednesday, June 13, 2018 - 14:14 Source

Porsche made public their commitment to zero-emission vehicles last year, and have now officially christened their flagship electric vehicle.

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Renew Economy Wednesday, June 13, 2018 - 13:27 Source

First of 400 Tesla PowerPacks arrive at site of 25MW/50MWh Gannawarra Energy Storage System, to store power from 60MW solar farm.

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Renew Economy Wednesday, June 13, 2018 - 13:27 Source

First of 400 Tesla PowerPacks arrive at site of 25MW/50MWh Gannawarra Energy Storage System, to store power from 60MW solar farm.

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Club Troppo Wednesday, June 13, 2018 - 13:02 Source

All finance requires is an upgrade for the internet age
From Nicholas Gruen, VIC, Australia

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MacroBusiness Wednesday, June 13, 2018 - 13:00 Source

Satyajit Das at Domainfax: Several factors could lead to a dangerous shortage of liquidity in the event of a crisis. First, since 2009, low interest rates have driven investors into riskier, less liquid assets in search of return. These include longer-dated securities, corporate bonds and emerging-market issues — frequently of low credit quality — as

The post Satyajit Das: Prepare for the next GFC appeared first on MacroBusiness.

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MacroBusiness Wednesday, June 13, 2018 - 12:30 Source

By Leith van Onselen In yesterday’s State Budget, the Queensland Government announced that it would reduce the First Home Owners’ Grant (FHOG) for newly constructed dwellings from $20,000 to $15,000, which garnered a feral response from the building lobby: Both the Housing Industry Association and the Master Builders Association of Queensland seriously questioned the decision

The post Property locusts swarm cut in QLD first home owners’ grant appeared first on MacroBusiness.

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