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MacroBusiness Wednesday, April 18, 2018 - 11:28 Source

By Leith van Onselen The luke warm recovery in skilled vacancies continues to plod along, according to the Department of Jobs and Small Business: Improving, but still nowhere near 2008 and 2011 levels. unconventionaleconomist@hotmail.com

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MacroBusiness Wednesday, April 18, 2018 - 11:00 Source

This morning I was interviewed by Sydney Radio 2GB’s Michael McLaren where we discussed Treasury’s dodgy pro-immigration propaganda. Below is the summary extract: Joint research by Treasury and the Department of Home Affairs has attempted to quash concern about our skyrocketing immigration levels, reporting that a cut to migrant intake would be economically disadvantageous. The

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MacroBusiness Wednesday, April 18, 2018 - 10:30 Source

By Leith van Onselen The Australia Institute (TAI) has released a new report arguing that Australia is one of the lowest taxing countries in the OECD: Australia is a low-taxing country… Australia raises far less tax revenue than most developed countries. … the level of tax revenue raised inevitably affects governments’ ability to fund essential

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Inside Story Wednesday, April 18, 2018 - 10:22 Source

It’s not a question you hear very often: “When did you grow up?” But it is one I have asked myself many times. Yes, you read it right the first time and, no, I didn’t mean “where,” I meant when.

I’m certainly a child of the 1970s — one look at my ABBA collection and that is plain enough to see. But that’s not when I grew up. At least not when I grew up Aboriginal. No, that happened much later. If I am really honest with you, I’m probably still getting there.

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MacroBusiness Wednesday, April 18, 2018 - 10:00 Source

If Leith’s demolition yesterday was not enough then try Judith Sloan today: …the net annual economic gain is very small: 0.1 per cent of gross domestic product… …No consideration is given in the report to the cost of congestion, the loss of urban amenity, overcrowded schools and hospitals, environmental pressures… …And as for those silly

The post Government has “lost the confidence” of polity on immigration appeared first on MacroBusiness.

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xkcd.com Wednesday, April 18, 2018 - 10:00 Source

The wars between the "OTHER PRIMATES OPEN THEM FROM THE SMALL END" faction versus the "BUT THE LITTLE BIT OF BANANA AT THE SMALL END IS GROSS" faction consumed Europe for generations.

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MacroBusiness Wednesday, April 18, 2018 - 09:30 Source

Via The Australian: Chinese students have defied unspecified ‘‘safety’’ warnings from their government amid fears of undue Chinese influence, flocking to Australia in larger numbers this year than ever before. Official figures to be released today show 173,000 Chinese students enrolled in Australian universities, colleges and schools in the first two months of 2018, 18

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Harrangue Man Wednesday, April 18, 2018 - 09:16 Source

DreamsChildhood, school and work; the three phases of getting to two legs all afflicted with horrors that invade my sleep. I wake brooding.The boilIt's still going. Each night it is opened and ichor comes out. It hurts to move sometimes 'cos it's so tender. I didn't ride for five days to avoid chafe.FeetMy cracked skin is appealing to someone who picks their skin. I have to rub moisturiser into my feet so they don't get crusty and picked and look like a baked dry river bed. They hurt to walk on. It hurts to move my legs into a position I can do it. I look like the world's worst contortionist.AcceptanceThe battle continues.

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MacroBusiness Wednesday, April 18, 2018 - 09:00 Source

Via Australia’s last journalist standing, Adele Ferguson: It doesn’t get much worse – or serious – than blatantly lying to the corporate regulator on at least 20 occasions, but AMP did just that. The commission’s investigations have also caught the board and senior executives meddling with and changing an independent expert’s report before it was

The post Royal Commission should expose “paedophile priests” of finance appeared first on MacroBusiness.

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MacroBusiness Wednesday, April 18, 2018 - 08:51 Source

From Australian Broker comes a sombre analysis of the interest-only mortgage reset looming for Australia’s housing market: In January, UNSW professor of economics Richard Holden published a sobering observation of Australia’s relationship with high-LVR and IO loans. In it he reported Australian banks lend an average 25% more than their US counterparts and that these

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MacroBusiness Wednesday, April 18, 2018 - 06:06 Source

All he needed to do was shut up. DXY up: AUD down across the board: Gold off: Oil held on: Base metals were mixed: Big miners rallied: EM stocks too: And junk: The Treasury curve flattened: And bund curve: Stocks took off: Trump managed to shut up for a day and China announced some minor

The post Stocks go boom as Trump zips it appeared first on MacroBusiness.

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The Australian Independent Media Network Wednesday, April 18, 2018 - 06:00 Source

Wednesday 18 April 2018 How has it come to this? Australians have always had a sort of love-hate relationship with America. Whilst we come from an English heritage, it has been the United States that has had the most influence on our maturing as a Nation. You agree, “guys”? Rightly or wrongly we have followed…

The post Day to Day Politics: Only in America, but then we willingly shake his hand. appeared first on The AIM Network.

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The Global Mail - Syndicated Stories Wednesday, April 18, 2018 - 04:40 Source

Three weeks after Verge asked the cryptocurrency community for $3 million in donations to fund a mystery partnership, the cryptocurrency has come through on its promise. An announcement by Pornhub — the world’s biggest porn site — revealed that it will now accept […]

The post Verge accepted as form of payment by world’s biggest porn site appeared first on The Global Mail.

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Global Guerrillas Wednesday, April 18, 2018 - 03:16 Source

How does the open source moral network -- the combo of the #resistance, #metoo and #neveragain -- turn lists of violators into something people can easily digest and act upon? 

An online system that can work at scale?

I just saw something published on Twitter that moves this closer to reality. 

It takes quotes that Brexit supporters have made on Twitter and attaches it to their pictures.  Here's the result:

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The Global Mail - Syndicated Stories Wednesday, April 18, 2018 - 02:40 Source

While blockchain technology has been around for close to a decade now and has piqued the interest of several large corporations and governments across the world, it is not without its problems. While it does bring the benefits of security […]

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The Global Mail - Syndicated Stories Wednesday, April 18, 2018 - 01:20 Source

From our technical interactive charts, Bitcoin and most cryptocurrencies under our focus might be bottoming up. We can’t be sure of resurgence unless there is a strong follow through in the course of the week. that’s just the nature of […]

The post Weekly Cryptocurrency Price Analysis: Bitcoin, Ethereum, NEO, Ripple and Bitcoin Cash appeared first on The Global Mail.

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MacroBusiness Wednesday, April 18, 2018 - 00:20 Source

Via the AFR: Over the past two months, the BBSW has surged 0.32 percentage points, or 32 basis points, to 2.08 per cent. The rate looked to have stabilised late March, only to restart its steep upward trajectory this month. The short-term money market rate directly affects the cost of bank wholesale funding costs. The

The post The great Australian property bust has begun appeared first on MacroBusiness.

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MacroBusiness Wednesday, April 18, 2018 - 00:19 Source

By Leith van Onselen When it comes to Australia’s immigration program, you would be hard pressed to find a bigger liar than Treasurer Scott Morrison (see here, here and here). Yesterday, Morrison again spun a web of lies over Australia’s migrant program on ABC Radio [my emphasis]: SCOTT MORRISON: Natural increase of around 150,000 each

The post Scott Morrison lies again on immigration intake appeared first on MacroBusiness.

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North Coast Voices Wednesday, April 18, 2018 - 00:16 Source

On Tuesday 17 April the Telecommunication Industry Ombudsman (TIO) sent out the media release in this post.That same day the Australian Minister for Communication and longstanding member of the far-right pressure group the Institute of Public Affairs (IPA), Liberal Senator for Victoria Mitch Fifield, came out fighting after the TIO report showed: complaints about services delivered over the NBN surged by 204% in the second half of 2017, compared with the same p

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North Coast Voices Wednesday, April 18, 2018 - 00:15 Source

Just five months after Australian voters signalled their widespread acceptance of the Lesbian, Gay, Bisexual, Transgender and Intersex (LGBTI) members of the community by voting for the introduction of same sex marriage, a number people in the Victorian Liberal Party want to turn back the clock in the name of sheer bigotry.The Age, 14 April 2018:A motion by a conservative Liberal branch linked to Federal MP Kevin Andrews has called for stat

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MacroBusiness Wednesday, April 18, 2018 - 00:10 Source

Via The Australian: “We’ve already seen what happens when states pursue different strategies, and it’s obvious we need a single, united approach,” ­Cement Concrete and Aggregates Australia chief executive Kim Slattery said. “Having these individual targets in addition to the broader framework will just create duplication, confusion and through that duplication you have additional costs.

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MacroBusiness Wednesday, April 18, 2018 - 00:10 Source

By Leith van Onselen SQM Research has released its rental vacancy series for March, which revealed a 0.1% fall in the national vacancy rate over the month and a 0.2% decline over the year: Over the year, decreases in vacancies were recorded in Adelaide (-0.3%), Perth (-0.9%), Brisbane (-0.3%), and Canberra (-0.2%), whereas an increase

The post Rental vacancies remain widely divergent appeared first on MacroBusiness.

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MacroBusiness Wednesday, April 18, 2018 - 00:05 Source

Iron ore prices for April 17, 2018: Tianjin benchmark lifted 40 cents to $64.45. Paper was up overnight on a PBOC RRR cut. Coking coal too. Steel is range trading still. CISA late March output for major mills barely shifted and as you can see and has closed to zero growth year on year.  Yesterday’s

The post Daily iron ore price update (no growth) appeared first on MacroBusiness.

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MacroBusiness Wednesday, April 18, 2018 - 00:01 Source

Global Macro / Markets / Investing: U.S. Libor Replacement, Two Weeks After Debut, Has Some Issues – Bloomberg Wall Street’s $6 Trillion Man Fink Is Finally Worth $1 Billion – Bloomberg Tesla Is Temporarily Shutting Down Model 3 Production. Again. – BuzzFeed How Tesla’s Elon Musk Makes a Strategy Out of Defiance – WSJ If

The post Links 18 April 2018 appeared first on MacroBusiness.

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The Australian Independent Media Network Tuesday, April 17, 2018 - 20:08 Source

There’s an old saying, “Fool me once, shame on you! Fool me twice, shame on me! Fool me over and over again, you must be the Murdoch Press telling me that the Liberal Party are great economic managers…” Yep, I did think that most ridiculous thing I heard was Sean Hannity’s denial that he was…

The post Ho, Ho, Ho, Scott Is Santa, While A Shorten Government Will Fail To Balance The Budget! appeared first on The AIM Network.

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politicalowl Tuesday, April 17, 2018 - 18:10 Source

Comey may be many things, but is he really a liar? BBC North American Editor Jon Sopel

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politicalowl Tuesday, April 17, 2018 - 17:34 Source

The Liberal Federal Member for Deakin, Michael Sukkar, has confirmed the change during an appearance on Sky News. John Howard's broad church has become a raucous family, So dancealong with the Credlin base to celebrate Scomo's Santa budget.

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John Quiggin Tuesday, April 17, 2018 - 17:24 Source

As I mentioned a while ago, in the years that I’ve been blogging, I’ve described my political perspective as “social-democratic”. In earlier years, I mostly used “democratic socialist”. My reason for the switch was that, in a market liberal/neoliberal era, the term “socialist” had become a statement of aspiration without any concrete meaning or any serious prospect of realisation. By contrast, “social democracy” represented the Keynesian welfare state I was defending against market liberal “reform”.

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Your Democracy Tuesday, April 17, 2018 - 17:17 Source

rocketsThe US must have been well aware that there were no chemical stockpiles at Syrian facilities the coalition destroyed in their 'retaliatory' strike, Russian chemical weapons experts told RT, noting the absence of toxic emissions.

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Renew Economy Tuesday, April 17, 2018 - 15:06 Source

The Australian Government is pleased to announce new appointments to the Board of the Australian Renewable Energy Agency (ARENA).

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