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Time for a Federal anti-corruption watchdog

December 12, 2017 - 09:20 -- Admin

So say we: Three quarters of voters say there is a need for democratic renewal in the form of a federal anti-corruption commission and a tougher code of conduct for MPs, as part of wider reforms that would also see a rejuvenated public sector return to service delivery. However, Prime Minister Malcolm Turnbull has played down

The post Time for a Federal anti-corruption watchdog appeared first on MacroBusiness.

Sydney to transform from free range to battery city

December 12, 2017 - 09:00 -- Admin

By Leith van Onselen A new report commissioned by Urban Taskforce Australia projects that detached houses with backyards will vanish in Sydney over the next 40 years, meaning future children will be forced to grow up in apartments, many in insecure rented accommodation. From The SMH: While Sydney’s apartments are most likely to be occupied

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Sell any Australian dollar rally with relish

December 12, 2017 - 07:39 -- Admin

DXY was firm last night: AUD rebounded against DMs for no obvious reason: And EMs: Gold was caned: Brent jumped on a UK pipeline shutdown: Base metals jumped on sagging Chinese credit. Say what? Big miners too: And EM stocks: Junk was soft: Treasuries were sold, curve flattened: Bunds bogged: Stocks at a new record

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Black Hole Malcolm sucks in Bennelong

December 12, 2017 - 06:22 -- Admin

Doom looms for Black Hole Malcolm, via Newspoll: The Liberal Party’s primary vote in Bennelong has collapsed, leaving the Coalition and Labor in a ­tight race for the previously safe Liberal seat and the Turnbull government’s slim command of parliament in the hands of Cory Bernardi’s Australian Conservatives. A Newspoll, conducted exclusively for The Australian

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Is Sam Dastayari an Australian Black Swan?

December 12, 2017 - 00:30 -- Admin

Yesterday we had two extraordinary political outbursts over China: Both major parties believe the controversy over Chinese interference in Australian politics will serve them well when Bennelong’s large Chinese-Australian population votes in the weekend’s by-election. Labor candidate Kristina Keneally opened the final week of campaigning arguing voters in the suburban Sydney electorate are alarmed by

Aussie household disposable incomes continue to fall

December 12, 2017 - 00:20 -- Admin

By Leith van Onselen The September quarter national accounts was another sobering experience for Australian workers. According to the ABS, the real average compensation per employee fell by 0.9% in the year to September 2017 to be 3.3% lower since March 2012: In a similar vein, separate per capita wages & salaries data registered an

The post Aussie household disposable incomes continue to fall appeared first on MacroBusiness.

Population ponzi overruns maternity wards

December 12, 2017 - 00:15 -- Admin

By Leith van Onselen Remember this chart? It shows that Victoria’s population surged by an all-time high 149,374 people in the year to March 2017: And remember this chart showing that Melbourne’s population grew by a record 126,175 in 2016: As well as this chart showing that the lion’s share of Victoria’s (Melbourne’s) population growth

The post Population ponzi overruns maternity wards appeared first on MacroBusiness.

APRA’s interest-only curbs a stomping success

December 12, 2017 - 00:10 -- Admin

By Leith van Onselen CoreLogic’s Cameron Kusher has published some interesting charts showing how the Australian Prudential Regulatory Authority’s (APRA) macro-prudential curbs on interest-only lending have been a major success, driving interest-only lending to record low levels: The total value of interest-only lending over the September 2017 quarter was $16.603 billion which was -44.8% lower

The post APRA’s interest-only curbs a stomping success appeared first on MacroBusiness.

Chinese credit slowdown steepens

December 12, 2017 - 00:04 -- Admin

Chinese new yuan loans for November were out last night. The headline numbers beat expectations and markets rallied as Total Social Financing came in at 1.6tr yuan. Bank lending was 1.12tr of that: However, new lending was down year on year by -8% and the year on year three month moving average is down to

The post Chinese credit slowdown steepens appeared first on MacroBusiness.

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