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The Australian Independent Media Network Monday, August 13, 2018 - 10:00 Source

The Greens are calling on the government to release the full modelling for the proposed final design of the National Energy Guarantee to enable scrutiny of the government’s claim that it will result in lower emissions and power bills. “The government has only produced a spreadsheet and chart pack, which really doesn’t cut it,” said…

The post What ACIL Allen really think about the NEG appeared first on The AIM Network.

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MacroBusiness Monday, August 13, 2018 - 10:00 Source

Via the AFR: The Turnbull government is fast-tracking a policy to underwrite a new coal-fired power station as it seeks to win the support of wavering conservative MPs for the National Energy Guarantee at Tuesday’s Coalition party room meeting. Australian Competition and Consumer Commission chairman Rod Sims, who recommended the government underwrite new dispatchable power

The post NEG plus coal will also lift power prices appeared first on MacroBusiness.

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xkcd.com Monday, August 13, 2018 - 10:00 Source

Eno's storied aria was once soloed by Judge Lance Ito on the alto oboe at Ohio's AirAsia Arena.

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MacroBusiness Monday, August 13, 2018 - 09:45 Source

Via David Uren today: Analysis by KPMG shows investors are the “marginal” buyers who dictate the prices. The firm estimates that every 10 per cent increase in lending to investors in Sydney translates to a 2.2 per cent rise in prices. Investors had reached 45 per cent of new mortgages in late 2014, up from

The post Capital Economics: House price falls steepening appeared first on MacroBusiness.

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MacroBusiness Monday, August 13, 2018 - 09:30 Source

By Leith van Onselen Later this week, New Zealand’s Labour-led coalition Government will introduce legislation to implement the first tranche of its demand-side housing reforms, amending the Overseas Investment Act to preclude foreign buyers from purchasing residential property. From The Canberra Times: Ms Ardern’s Labour Party is adamant that a law change banning foreigners from buying

The post NZ Labour to ban foreign home buyers appeared first on MacroBusiness.

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MacroBusiness Monday, August 13, 2018 - 09:18 Source

By Chris Becker  Beyond the growing trade war with Chimerica, a banking crisis in Turkey on Friday night capped off a volatile week on global markets, with the USD re-asserting itself as the safe haven of choice. The Fed looks hell bent on normalising interest rates, with Friday night’s CPI print coming in bang on

The post Macro Morning (Trading Week) appeared first on MacroBusiness.

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MacroBusiness Monday, August 13, 2018 - 09:15 Source

The wealth effect economy is the very straight forward proposition that rising asset prices lifts household’s marginal propensity to consume. It is very important to Western politicians and their central bank lackeys because it is the key offset to de-industrialisation. As local production shifts to cheaper emerging markets, interest rates fall and asset prices rise,

The post The end of the wealth effect economy is nigh appeared first on MacroBusiness.

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John Quiggin Monday, August 13, 2018 - 09:15 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.

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MacroBusiness Monday, August 13, 2018 - 09:00 Source

Via The Australian: While the two-party-preferred vote has remained unchanged, with Labor still leading the ­Coalition 51-49, the Coalition suffered a two-point decline in popular support, with the primary vote dropping back to 37 per cent and One Nation’s support rising two points to 9 per cent. The decline has coincided with growing rural anger

The post Turnbull Newspoll failure rolls on appeared first on MacroBusiness.

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Renew Economy Monday, August 13, 2018 - 08:06 Source

Bodangora wind farm in NSW switches on its first turbines.

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Renew Economy Monday, August 13, 2018 - 07:52 Source

Australia’s leading clean-tech business accelerator EnergyLab has partnered with Southern Cross University’s Enterprise Lab to launch an Acceleration Program for innovators in the renewable and advanced energy sectors.

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Renew Economy Monday, August 13, 2018 - 07:52 Source

Australia’s leading clean-tech business accelerator EnergyLab has partnered with Southern Cross University’s Enterprise Lab to launch an Acceleration Program for innovators in the renewable and advanced energy sectors.

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The Australian Independent Media Network Monday, August 13, 2018 - 01:13 Source

“Our efforts to deal with climate change have been betrayed by a lack of leadership, a political cowardice, the like of which I have never seen” — Malcolm Turnbull 2010 Country folk up and down our fly-blown land give thanks this week for a federal government whose devotion to the plight of stock on drought-stricken New…

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MacroBusiness Monday, August 13, 2018 - 00:20 Source

By Leith van Onselen Over recent years, Fairfax’s economics editor, Ross Gittins, has lamented the “bizonomics” of immigration, how “our economists have turned off their brains on the question of immigration”, and described Australia’s mass immigration ‘Big Australia’ policy as “the cheap and nasty way to grow the economy”. Yet over the weekend, Ross abandoned his

The post MSM joins RBA immigration propaganda drive appeared first on MacroBusiness.

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MacroBusiness Monday, August 13, 2018 - 00:15 Source

DXY is off to the races as EUR finally breaks on the reality of clapped out European growth: Here’s why: AUD broke to two year lows versus DMs: But soared against collapsing EMs: AUD market positioning is pushing towards more rarefied bearish territory at -55k contracts: Gold held up remarkably well. Don’t expect it to

The post Australian dollar tumbles into emerging market abyss appeared first on MacroBusiness.

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MacroBusiness Monday, August 13, 2018 - 00:15 Source

DXY is off to the races as EUR finally breaks on the reality of clapped out European growth: Here’s why: AUD broke to two year lows versus DMs: But soared against collapsing EMs: AUD market positioning is pushing towards more rarefied bearish territory at -55k contracts: Gold held up remarkably well. Don’t expect it to

The post Australian dollar tumbles into emerging market abyss appeared first on MacroBusiness.

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MacroBusiness Monday, August 13, 2018 - 00:14 Source

The classic emerging market external crisis engulfing Turkey should be of great interest to Aussie investors. As is always the case when the US Federal Reserve tightens monetary policy, capital repatriates from far flung jurisdictions where it sought out higher returns in the good times. If the emerging market in question was not careful during

The post Is the Turkish crisis a dry run for China? appeared first on MacroBusiness.

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MacroBusiness Monday, August 13, 2018 - 00:10 Source

By Leith van Onselen Despite it playing a key role in the Coalition’s poor showing at last month’s ‘Super Saturday’ bi-elections, the Turnbull Government over the weekend vowed to take its full tax cut package to the upcoming Federal Election. From The Guardian: Scott Morrison has defended the government’s business and personal income tax cuts

The post Suicidal Coalition vows to take tax cuts to next election appeared first on MacroBusiness.

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MacroBusiness Monday, August 13, 2018 - 00:10 Source

Don’t mistake RBA governor Phil Lowe for a house price bear. as the AFR is doing: The message for property investors: this is the housing downturn we had to have. Prior to the recent declines, price growth had outpaced incomes for quite some years, accompanied by a steep increase in credit. “I was quite worried

The post Why the RBA will try to save house prices appeared first on MacroBusiness.

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MacroBusiness Monday, August 13, 2018 - 00:08 Source

By Leith van Onselen Despite Sydney’s dwelling values falling by around 6%, The Economist’s latest annual global house-price index shows that Sydney is the seventh most expensive housing market in the world, with dwelling values still around 50% overvalued against incomes: The massive overvaluation of Sydney housing follows a 65% rise in dwelling values since February 2012:

The post Despite falling prices, Sydney property still 50% overvalued appeared first on MacroBusiness.

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MacroBusiness Monday, August 13, 2018 - 00:07 Source

Via Peter Hannam: Prime Minister Malcolm Turnbull told the Queensland Media Club a month ago that his “obsession” was cutting energy bills. Climate barely got a look-in, even in a state seared by a multi-year drought that is spreading south to occupy all of NSW and is encroaching on northern Victoria. Brisbane itself was in

The post Why power prices will double in the next five years appeared first on MacroBusiness.

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MacroBusiness Monday, August 13, 2018 - 00:05 Source

Tianjin benchmark lifted 65 cents to $68.75. Paper fell overnight. Rebar inventories fell again last week but remains well above the lows of last year. CISA daily steel output is trending down solidly. Steel prices have clearly responded to easing Chinese monetary policy. But there is nothing here out of the ordinary yet in terms

The post Daily iron ore price update (much ado) appeared first on MacroBusiness.

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MacroBusiness Monday, August 13, 2018 - 00:05 Source

CoreLogic released its auction report yesterday, which reported a small rebound in the preliminary national auction clearance rate to 59.1% from 56.2% last weekend (later revised down to 54.0%). The preliminary clearance rate was also way below the 67.5% recorded in the same weekend of last year: Auction volumes nationally were 1,400 – way below

The post Auction clearance rate rebounds off weak volumes appeared first on MacroBusiness.

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MacroBusiness Monday, August 13, 2018 - 00:01 Source

Global Macro / Markets / Investing: Supply Chains and Trade War (Very Wonkish) – NY Times Trends in mortality inequality in the US and France – VOX Asset prices and wealth inequality – VOX Why is macroeconomics so hard to teach? – The Economist Crypto Unicorn Bitmain Weighs $18 Billion IPO, One of World’s Largest

The post Links 13 August 2018 appeared first on MacroBusiness.

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Poll Bludger Sunday, August 12, 2018 - 21:48 Source

Malcolm Turnbull's hitherto surging personal ratings take a turn for the worse, as both sides lose ground on the primary vote and two-party preferred remains as was.

The post Newspoll: 51-49 to Labor appeared first on The Poll Bludger.

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WixxyLeaks Sunday, August 12, 2018 - 19:18 Source

This month I was reminded of a time when Russell Crowe got himself a crew cut, donned all the Nazi regalia and starred in a little flick called Romper Stomper. It was a film that was highly controversial and confrontational at the time. Now however people like Crowe’s character Hando are not such underground figures, in fact, thanks to the likes of Channel 7 and Sky News, neo-Nazis like him are now becoming mainstream commentators. Perhaps it’s fitting that Foxtel has made a current series of Romper Stomper.

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John Quiggin Sunday, August 12, 2018 - 18:58 Source

It’s obvious enough by now that support for Trumpism in the US and elsewhere is motivated primarily by racial and cultural animus, and not (or at least not in any direct way) by economic concerns. Still, to the extent that Trumpism has any economic policy content it’s the idea that a package of immigration restrictions and corporate tax cuts[1] will make workers better off by reducing competition from migrants and increasing labor demand from corporations. The second part of this claim has been pretty thoroughly demolished, so I want to look mainly at the first.

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The Australian Independent Media Network Sunday, August 12, 2018 - 13:15 Source

Contrary to any popular perceptions of Australia’s legal system, a dislike of rights reigns with pious conviction on both sides of the political aisle. Rights are the stuff of nonsense and nuisance, revocable for those deemed undesirable. The Australian constitution, a heavily dull document, remains silent on many important liberties; the common law is relied…

The post Authoritarian Revocations: Australia, Terrorism and Citizenship appeared first on The AIM Network.

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The Australian Independent Media Network Sunday, August 12, 2018 - 10:06 Source

This yarn was told to me back in the early eighties by my brother-in-law as we walked from his house to the “Top Bar” in his village in Sth’n Italy … he told me the basic rudiments of the story … as one does when relating a matter of interest, rather than a complete and…

The post The Apprentice’s Revenge appeared first on The AIM Network.

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Your Democracy Sunday, August 12, 2018 - 09:03 Source
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