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Duck Pond Sunday, January 6, 2019 - 14:58 Source

Circumstances change, but not always for the better. On a personal level, I am no longer walking the dogs. Lack of any exercise will likely make my situation worst. There is no diagnosis of my condition.

The situation in the world at large is no better. Whether it is Brazil, the Phillipines, and if we can ignore the Middle East, the United States or Australia. to ignore the threat of Climate Change is political diversion.

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John Quiggin Sunday, January 6, 2019 - 13:18 Source

Economics in Two Lessons is listed as the #1 New Release in Microeconomics on Amazon. I’m not sure what this means, but it sounds encouraging.

It’s now available for preorder now, with a release date of April 23, the hardcover publication date. Apple books also has it for pre-order.

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The Australian Independent Media Network Sunday, January 6, 2019 - 12:50 Source

In 2011, when Scott Morrison urged the shadow cabinet to capitalise on the electorate’s growing concerns about “Muslim immigration”, “Muslims in Australia” and the “inability” of Muslim migrants to integrate, he was rebuked by senior colleagues. Deputy leader, Julie Bishop, and the former immigration minister Philip Ruddock, strongly disagreed with the suggestion, pointing out that…

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The Australian Independent Media Network Sunday, January 6, 2019 - 09:45 Source

The worm has gotten into Apple, and is feasting with someconsistency.  Revenue has fallen. Chief executive Tim Cook is cranky. The celebrated front of Apple’s wealth – the iPhone with its range of glittering models – has not done as well as he would have hoped. Dreams of conquering Cathay (or, in modern terms, the…

The post Biting into Apple: The Giant’s Revenues Fall appeared first on The AIM Network.

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The Australian Independent Media Network Saturday, January 5, 2019 - 17:50 Source

By Stephen Fitzgerald  I’ve spoken previously about the lack of human rights protection in Australia and now we might have a look at the reasons for political resistance in what we can call the egregious illiberal democracy. An outstandingly bad illiberal democracy, also called a partial democracy, low intensity democracy, empty democracy, hybrid regime or…

The post Feeding the Monster appeared first on The AIM Network.

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The Australian Independent Media Network Saturday, January 5, 2019 - 12:56 Source

When Scott Morrison took over as Treasurer, he took waffle to a whole new level. “It’s like going off on that summer holiday,” he told us.  “You get in the car; you know where you’re going; you don’t put the passengers at risk; you get to your destination safely. Of course there will be people…

The post Are we there yet? appeared first on The AIM Network.

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Global Guerrillas Saturday, January 5, 2019 - 05:18 Source

Written by an anonymous friend who also senses the arrival of the long night of networked tyranny:

"Today is the final day of 2018. As years go, it was adequate to its purpose, which was delivering us in one complete orbit about the Sun. Enough with retrospectives: let us understand what is coming in 2019.

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Digitopoly Saturday, January 5, 2019 - 02:17 Source

From its very early days, one of the main areas where blockchain enthusiasts argued there was potential for radical innovation was in the ability of the technology to house smart contracts. The Ethereum network was designed with this in mind: to be a distributed ledger with a ‘Turing complete’ virtual machine on top of it. With this you could great a program that was effectively a contract performance system — triggering payments when information was received regarding the state of the world or the performance of other contractual obligations.

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MacroBusiness Saturday, January 5, 2019 - 00:09 Source

Artist : Jeffrey Smart (Australia, b.1921) Macro/Markets What the market forgot about Trump: The fiscal boost was temporary, but the chaos was permanent – Marketwatch Investors pile into money market funds amid market turmoil – Financial Times Last Month, Investors Seemed Too Pessimistic. Now, They Seem Prescient.– New York Times Google shifted $23 billion to tax haven

The post Weekend Links 5-6 January 2019 appeared first on MacroBusiness.

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MacroBusiness Friday, January 4, 2019 - 17:28 Source

Diverging fortunes here in Asia today as Chinese stock markets rallied while re-opened Japanese bourses slumped, catching up to the NY party. Currencies also diverged with a selloff in Yen followed by a gain in Aussie dollar as traders pre-position for tonight’s US unemployment print. The Shanghai Composite rallied hard from the open to be up 1.4%

The post Macro Afternoon appeared first on MacroBusiness.

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MacroBusiness Friday, January 4, 2019 - 13:30 Source

Cross posted from The Conversation by Susan Harris Rimmer Australian Research Council Future Fellow, Griffith Law School, Griffith University By the end of 2019 we should be able to assess how Australia is travelling with the grand plan laid out in the 2017 Foreign Policy White Paper. In this, an election year, I examine the status of

The post 2019 to be a volatile year for Australian foreign policy appeared first on MacroBusiness.

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MacroBusiness Friday, January 4, 2019 - 12:45 Source

by Chris Becker Overshadowed by the flash crash and the Trump wall shutdown, last night’s US manufacturing PMI numbers confirm a trend already underway across the globe, heralding a slowdown that could tip major economies into recession. Here’s the details from Calculated Risk with decreases across the board: The ISM manufacturing index indicated expansion in December. The

The post A slump in manufacturing precursor to US recession? appeared first on MacroBusiness.

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MacroBusiness Friday, January 4, 2019 - 12:30 Source

From Calculated Risk: Note: The Employment report will be released as scheduled, and not postponed by the government shutdown. On Friday at 8:30 AM ET, the BLS will release the employment report for December. The consensus is for an increase of 180,000 non-farm payroll jobs in December (with a range of estimates between 160,000 to 200,000),

The post US jobs report preview appeared first on MacroBusiness.

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The Australian Independent Media Network Friday, January 4, 2019 - 12:01 Source

When Home Affairs Minister, Peter Dutton MP announced that the government had revoked the citizenship of Australian-born terrorist Neil Prakash, he was no doubt sure it would be met with rounds of public applause. After a tumultuous few months for the Coalition, marred by scandal and infighting, Dutton needed a positive front page story. And what…

The post Prakash citizenship saga suits Dutton’s racist agenda appeared first on The AIM Network.

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MacroBusiness Friday, January 4, 2019 - 11:24 Source

Via News comes today’s headline grabbing news: With a state and federal election just months away, the recommendations of the banking royal commission expected within weeks and several crucial policies hanging in the balance, the fortunes of young buyers could reverse swiftly. Realestate.com.au chief economist Nerida Conisbee said first homebuyers were now faced with a crucial

The post Fake News: Last chance for FHBs! appeared first on MacroBusiness.

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xkcd.com Friday, January 4, 2019 - 11:00 Source

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The Australian Independent Media Network Friday, January 4, 2019 - 10:12 Source

“My job – our government’s job – is to prepare Australia for any opportunity and eventuality. It’s to grab the year by the scruff of its neck and make it a winner for all of us.”  Scott Morrison’s New Year’s Address Ok, I’ve been called a left-winger a few times, but it’s just not true.…

The post In The Interests Of Balance: A Vote For Labor Is A Vote For Chaos! appeared first on The AIM Network.

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MacroBusiness Friday, January 4, 2019 - 10:00 Source

by Chris Becker Yesterday’s flash crash on currency markets had another silver lining – the price of gold in AUD reached a new record high at over $1879AUD per ounce: It’s been a near rocket ride since the equity slump, proving gold’s usefulness as a Minsky Metal in times of stress: Although the daily chart

The post Gold hits record high in Australian dollar terms appeared first on MacroBusiness.

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MacroBusiness Friday, January 4, 2019 - 10:00 Source

Via KMD: Same store sales down is very poor trading. The response for retail stocks was predictable: We also saw this a few days ago: The softening housing market is affecting the tourism sector, with Flight Centre reporting tough leisure travel conditions and Sydney Airport revealing domestic traffic dropped by more than 1 per cent

The post Bad Santa lands on Kathmandu appeared first on MacroBusiness.

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The Australian Independent Media Network Friday, January 4, 2019 - 09:59 Source

Neil Prakash was born in Australia, he is an Australian citizen, he is not the citizen of another country and whatever legal advice Peter Dutton claims to have been given, nothing will change those two facts. Therefore, any attempt by Dutton to strip him of his citizenship would be illegal and frankly, a waste of…

The post LET THE GAMES BEGIN appeared first on The AIM Network.

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MacroBusiness Friday, January 4, 2019 - 09:38 Source

From Moodys: The world is now incapable of shouldering a 10-year Treasury yield above 3%. A remedial decline by the U.S.’ benchmark interest rates will be critical to rejuvenating global business activity and stabilizing financial markets. Otherwise, the corporate earnings outlook might deteriorate by enough to sink the market value of U.S. common stock by

The post Moody’s: bonds need to rally for stocks to stabilize appeared first on MacroBusiness.

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MacroBusiness Friday, January 4, 2019 - 09:34 Source

It couldn’t happen to a nicer central bank. The world’s most corrupt monetary manager is about to do a spectacular volte face with seventeen twists. After years of pretending that it understands the economy, that Australia’s outlook is relentlessly bullish, that it was good idea to supplant a mining boom and bust with a housing

The post A Tyrannosaurus egg is about to land on the RBA’s face appeared first on MacroBusiness.

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MacroBusiness Friday, January 4, 2019 - 09:00 Source

It began in H2 last year as Chinese developers topped buying, via the AFR: Chinese developers are steering away from expensive inner city site purchases for apartment projects as they wait out the housing downturn and the uncertainty of next year’s federal election. At the height of the boom in and around 2013 to 2015, many

The post Chinese developers hit the panic button appeared first on MacroBusiness.

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MacroBusiness Friday, January 4, 2019 - 08:31 Source

by Chris Becker Just in time for the New Year crash, here comes some stellar news from the IMF (my emphasis added): Global debt has reached an all-time high of $184 trillion in nominal terms, the equivalent of 225 percent of GDP in 2017. On average, the world’s debt now exceeds $86,000 in per capita terms,

The post Global debt reaches new record highs: IMF appeared first on MacroBusiness.

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MacroBusiness Friday, January 4, 2019 - 08:23 Source

by Chris Becker Here’s the latest prices with a slight uptick in spot prices, while futures are pushing higher, suggesting hope over forthcoming stimulus: The problem for the complex is the correlation to the Chinese PMI, which dropped into contraction territory in December for the first time in over two years. And unless Chinese authorities

The post Daily iron ore price update (PMI drag) appeared first on MacroBusiness.

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MacroBusiness Friday, January 4, 2019 - 08:12 Source

by Chris Becker Got to hand it to the GOP, they know how to spoil a party. After passing the biggest tax cuts in history, leading to a huge surge in the US stock market throughout 2018, 2019 looks to be the year of reckoning for the increasingly irrelevant party. The US federal government is

The post Trump shutdown continues, markets still in freefall appeared first on MacroBusiness.

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MacroBusiness Friday, January 4, 2019 - 07:30 Source

By Chris Becker The volatility is ramping up as the Asian FX flash crash and the fallout from the Apple guidance cut was exarcebated by an unexpected drop in the US ISM manufacturing print. US stocks tumbled, with the NASDAQ losing a little over 3% with Treasury yields falling sharply as the yield curve braces

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Friday, January 4, 2019 - 07:10 Source

I’m back Monday but here’s a little warm up post. The politico-housing complex has joined the new year with a wailing siren of destruction. Leading off is disastrous L-plate Treasurer, Josh Frydenberg, who appears to have qualified for the job only thanks to an apposite moral flexibility, via the AFR: “Now that APRA have lifted

The post Housing crash blame game erupts appeared first on MacroBusiness.

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MacroBusiness Friday, January 4, 2019 - 00:05 Source

Macro/Markets Investors Are Betting That the Fed Hits Pause on Rate Hikes Wall Street Journal Yanis Varoufakis | The Euro Has Never Been More Problematic YouTube The World Is Getting Quietly, Relentlessly Better Wall Street Journal Asset Management’s Squeezed Middle Faces a Bleak 2019 Wall Street Journal Apple warns on Q1 results CNBC Americas Trump-loving economist caught red-handed ’making up

The post Links 4 January 2019 appeared first on MacroBusiness.

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John Quiggin Thursday, January 3, 2019 - 20:48 Source

If the world is going to avoid dangerous climate change, we need to accelerate the pace of the energy transition towards decarbonization. So, as 2019 begins, it’s worth looking at the state of play. Easing into things, I’ll take a look at the dead horses: nuclear and “clean coal”.

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