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MacroBusiness Wednesday, May 20, 2020 - 13:00 Source

This time via The Guardian: More natural gas, faster project approvals and lower company tax are critical to achieving “economic sovereignty” and a stronger Australian manufacturing sector, according to the industry minister, Karen Andrews. Andrews will address the National Press Club on Wednesday, calling on governments to streamline project approvals and foreshadowing a role for

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Renew Economy Wednesday, May 20, 2020 - 12:53 Source

traffic cars pllutionMichael Moore's ‘Planet of the Humans’ isn’t just wrong. It’s actively denying a range of quality-of-life improvements.

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Renew Economy Wednesday, May 20, 2020 - 12:44 Source

Dramatic fall in vehicle emissions due to Covid-19 pandemic provides a glimpse at the long-term opportunities to cut emissions.

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MacroBusiness Wednesday, May 20, 2020 - 12:40 Source

The ABS has released preliminary retail sales data for April, which registered a heavy 17.9% decline in turnover, the biggest decline in the series’ history: The seasonally adjusted estimate fell 17.9% (-$5,383.3m) from March 2020 to April 2020. This result is the strongest seasonally adjusted month-on-month fall in the history of the series. In seasonally

The post ABS: April retail sales collapse 18% appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 20, 2020 - 12:20 Source

What’s our medium to long-term outlook on Australian banks? We are not positive on Australian banks in the medium term. Australian banks will have a time to shine again. That time is not while staring down the barrel of the highest unemployment rate seen since the Great Depression and an extended period of close to

The post Banks go badly with flat yield curve or debt crisis, we face both appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 20, 2020 - 12:00 Source

The number of Aussies on JobKeeper now exceeds 6.3 million, blowing past the Morrison Government’s initial projection of 6 million: More than 6.3 million people are enrolled for the wage subsidy, already above the 6 million forecast, putting the scheme on track to blow past the $130 billion budgeted cost unless changes are made after

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The Australian Independent Media Network Wednesday, May 20, 2020 - 11:48 Source

Just twelve months ago, I was thinking about what a challenge writing was going to be. I mean, I expected that we were going to have a Shorten Labor government and, while I was sure that it would only be a matter of time before I’d be able to apply my satiric style to them,…

The post Scottie, It’s Time To Get Democracy From Under The Doona! appeared first on The AIM Network.

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MacroBusiness Wednesday, May 20, 2020 - 11:40 Source

The Housing Industry Association (HIA) has joined its pals at the Property Council of Australia (PCA) in demanding the government open borders to temporary migrants and international students to increase housing demand: New forecasts released today say new home building will fall by almost 50 per cent, putting half a million jobs at risk over

The post Let housing burn to the ground! appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 20, 2020 - 11:19 Source

Via Westpac: • The six month annualised growth rate in the Westpac– Melbourne Institute Leading Index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, fell from –2.34% in March to –5.16% in April. The signal points to a broad-based economic contraction. This is easily the

The post Leading index smashed appeared first on MacroBusiness.

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The Australian Independent Media Network Wednesday, May 20, 2020 - 11:02 Source

One only has to look at who our government employs to advise them to get an understanding of how little they actually want advice. Appointing Grant King to head a panel on how to reduce emissions was a joke. He was Managing Director of Origin Energy Limited from February 2000 until his retirement in October…

The post Never ask advice from someone unless you are sure they will tell you what you want to hear appeared first on The AIM Network.

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MacroBusiness Wednesday, May 20, 2020 - 11:00 Source

Queensland Premier Annastacia Palaszczuk is adamant that she will not put the health of the state’s residents at risk by lifting border restrictions prematurely. Palaszczuk has signalled that the state’s borders may not be reopened to interstate travellers until September. However, Queensland Tourism Industry Council CEO, Daniel Gschwind, has warned of the economic impact on

The post Tourism industry declares war on QLD Government appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 20, 2020 - 10:40 Source

Let’s hope so, via Platts: The latest flare up between Australia and China has ensnared more commodities but the likelihood of LNG being impacted is relatively low, despite vulnerabilities stemming from an oversupplied market and China’s growing options for gas imports, experts said. In the past week, China suspended Australian beef imports and threatened tariffs

The post Mirabile dictu! China to target Aussie LNG next? appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 20, 2020 - 10:20 Source

Neville Roach, the former chairman of the Australian Government’s Business (Migration) Advisory Panel, has penned an article lamenting the “large scale rorting” of Australia’s temporary skilled visa system: I had the privilege of chairing the committee that ushered in what became known as the 457 or Roach (Report) Visa in 1996… The challenge for countries

The post The “large scale rorting” of Australia’s visa system appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 20, 2020 - 10:00 Source

Honi Soit has published an article on the rampant workplace exploitation of international students by employers usually of the same nationality: For those on student visas, visa condition 8105 mandates that international students are only allowed to work up to 40 hours per fortnight while their course is in session. Whilst grappling with costly international

The post Raise financial requirements to stop international student exploitation appeared first on MacroBusiness.

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X

xkcd.com Wednesday, May 20, 2020 - 10:00 Source

The worst is when you run out of monospaced fonts and have to use variable-width variables.

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MacroBusiness Wednesday, May 20, 2020 - 09:53 Source

“If a tree falls in a forest and no one is around to hear it, does it make a sound?” CoreLogic has mysteriously pulled its daily dwelling values index, sighting low transaction volumes because of COVID-19: Due to the evolving COVID-19 situation, CoreLogic will suspend the daily online publication of the Hedonic Home Value Index,

The post CoreLogic pulls daily property price index appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 20, 2020 - 09:40 Source

Vis the excellent Damien Boey at Credit Suisse: Uncertainty in the housing market is elevated. There are many views in the market as to where house prices are heading. Some commentators believe that house prices will fall by double digits, while others believe that they could rise moderately. Notwithstanding the dispersion of views, all economists are wrestling

The post Measuring housing market uncertainty appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 20, 2020 - 09:30 Source

By Chris Becker  A hiccup in risk taking overnight as stock traders read the fineprint attached to the new vaccine news, coupled with steeper than expected declines in a variety of economic reports, namely housing starts, European unemployment and the closely watched German ZEW survey. Gold held on while other major currencies fell back slightly

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 20, 2020 - 09:20 Source

Iron ore prices for May 19, 2020: These price moves are all about a Brazil supply panic. Which does not mean it’s not rational. The virus is going nuts: That said, this: A total of 88 vessels carrying 13.51 million mt of iron ore arrived at major Chinese ports during May 10-16, SMM estimates. This

The post Daily iron ore price update (Brazil panic) appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 20, 2020 - 09:00 Source

For many years I have tried and failed to explain the operations of the Australian gas cartel. It has proven too complex and difficult for the shriveled and corrupted Australian media mind. Today bears the bitter fruit of that failure as the gas cartel devours Australia’s stillborn economic recovery. At issue is the east coast’s

The post Gas oligarchs devour stillborn recovery appeared first on MacroBusiness.

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Renew Economy Wednesday, May 20, 2020 - 08:21 Source

tesla model 3Battery Day now on hold as reports of new Tesla battery to bring cost of electric cars down are put on high rotation.

The post The world is now on hold for Tesla’s revolutionary EV battery appeared first on RenewEconomy.

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Renew Economy Wednesday, May 20, 2020 - 08:14 Source

legal angus taylor investigation - optimised policeAngus Taylor seems intent on bastardising the renewable energy mandates of CEFC and ARENA in name of "technology neutral" approach to support failed technologies.

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MacroBusiness Wednesday, May 20, 2020 - 07:32 Source

You can’t keep a good parasite down. The Property Council of Australia (PCA) has demanded a $2.5 billion stimulus package, stamp duty relief, and opening Australia up to low-skilled immigration to “kickstart the economy”: Buyers of freshly built homes would get a $50,000 cheque from the Morrison government under a $2.5 billion plan from the

The post Property Council demands $2.5b stimulus, open borders appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 20, 2020 - 06:44 Source

DXY was still soft last night: The Australian dollar broke out then flamed out: Gold is still hovering: Oil fell: Dirt was firm: Miners too: EM stocks rolled: But junk powered on post-Powell: Bonds were bid: Stocks fell: Westpac has the wrap: Event Wrap COVID-19 update: The global case count, according to the latest data

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The Australian Independent Media Network Wednesday, May 20, 2020 - 06:00 Source

Nothing to show: A year in power … Nothing to show. Two years as PM in August … Nothing to show. Three terms in office … Nothing to show. Monday, May 18 marked the anniversary of the Morrison government’s election win, and Scott Morrison is fast approaching two years as serving as Prime Minister. In…

The post Nothing to show appeared first on The AIM Network.

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Club Troppo Wednesday, May 20, 2020 - 03:35 Source

Note: This post was original published on 6 July 2015; I’ve updated it several times because both parties keep revisiting a decentralisation agenda.

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MacroBusiness Wednesday, May 20, 2020 - 00:08 Source

The pre COVID-19 rebound in Sydney property prices and new mortgages (see next chart) continues to work wonders for the New South Wales Budget. According to data from the NSW Office of State Revenue, annual stamp duty receipts in April had rebounded by $653 million (13%) from their August 2019 low: In addition to rising

The post NSW stamp duties continue to rise appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 20, 2020 - 00:01 Source

Global Macro / Markets / Investing: Amazon now makes $10,000 per second in online sales – Mazech Media Mark Cuban: stock market is overvalued during pandemic – Decrypt Covid-19 Excuse Restricts Millions of Citizens from Withdrawing Their Own Money – Bitcoin News Oil Outlook Vastly Different Than When It Plunged Into Negative Territory A Month

The post Links 20 May 2020 appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 19, 2020 - 17:00 Source

The pandemic crisis is over:buy stocks! That’s the message from risk markets across the world at the moment, as stocks breakout of their holding patterns and all the short positions are wound back, while rational investors remain on the sidelines. In mainland China, the Shanghai Composite is up nearly 1% to be one or two

The post Macro Afternoon appeared first on MacroBusiness.

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The Australian Independent Media Network Tuesday, May 19, 2020 - 15:41 Source

The “gate” suffix has been wearing thin since the break-in scandal that gave it its birth. Since Watergate, virtually anything dubious and suggestive, and much more besides, is suffixed. Which brings us to the issue of President Donald Trump’s predecessor, Barack Obama. Finding himself in hot water (did he ever leave it?) Trump has been…

The post Why Thinking Makes It So: Donald Trump’s Obamagate Fixation appeared first on The AIM Network.

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