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Telstra chief calls for $20 NBN price cut

October 19, 2018 - 11:30 -- Admin

By Leith van Onselen Telstra’s CEO Andy Penn has demanded a “more than $20” a month price cut to NBNs Co’s wholesale charges, claiming reseller charges are “rapidly falling to zero” and that the current pricing structure is unsustainable. From ITNews: “The price we charge our competitors for access to our network, when they provide

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Population ponzi drives Melbournians into homelessness

October 19, 2018 - 11:15 -- Admin

By Leith van Onselen Melbourne’s immigration-driven population boom, which has seen the city’s population surge by nearly 600,000 people over the past five years, is not only causing a rental crisis but also driving residents to homelessness. From The ABC: Rental properties are now more expensive, and harder to find. “It’s different from what it

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No Domainfax, more density will make Australians less healthy

October 19, 2018 - 11:00 -- Admin

By Leith van Onselen The propaganda used to support a ‘Big Australia’ never ceases to amaze. The latest dose of idiocy comes from Domainfax, who claims that increasing density would be good for our health: The Domain Healthy Sydney study, authored by Deloitte Access Economics and Tract Consultants… showed that some of the city’s densest

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Unquestionably dodgy: Aussie banks slammed in global report

October 19, 2018 - 10:45 -- Admin

Via Banking Day: If Australia’s major banks have retained any vestiges of complacency, that will be rubbed out by the comments from the Lafferty Banking 500, which rated 500 banks from 73 countries for their overall quality. The report card from Lafferty’s team of analysts ranked three of the four majors as substandard versus their

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Pascometer redlines on his new Chinese overlords

October 19, 2018 - 10:30 -- Admin

Weeoo, weeoo, weeoo. The Pascometer is screaming: While waiting for that, pretty much the rest of the civilised world is holding its breath, holding on while navigating around the toddler president and his destructive policies on everything from the World Trade Organisation to the International Criminal Court to the Paris agreement to the Middle East

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Is China facing “cascade crisis”

October 19, 2018 - 10:15 -- Admin

Via Bill Blain: Where America wins is in terms of economic muscle. The Japanese knew that before Pearl Harbour 80 years ago, the Russians learnt it in the 80’s. And now the Chinese are being treated to a similar lesson today. The US can withstand declining energy exports to China far longer than Xi can

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The epic collapse in capital city property turnover

October 19, 2018 - 10:00 -- Admin

By Leith van Onselen A few week’s back, we noted that the collapsing property sales volumes across Australia is a bad omen for prices: The collapse in sales volumes has been particularly sharp in the bubble epicentres of Sydney and Melbourne: Now, CoreLogic has released interesting analysis examining the turnover rate, which has crashed sharply

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Victory: MB forces ACCC to back gas reservation

October 19, 2018 - 09:45 -- Admin

Hope is kindled: Welcome aboard, Rod. This will aid Labor to tackle the gas cartel when it takes power. It must do it first and foremost or as falling house prices drag down the AUD then we’ll see a new gas and electricity price shock smash into the economy. It will be made even worse

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In one question, Leigh Sales outshone three-part population special

October 19, 2018 - 09:30 -- Admin

By Leith van Onselen Over the past several days I lambasted the ABC 7.30 Report’s three-part population special because it failed to mention the policy option of reducing immigration, instead presenting a ‘Big Australia’ as inevitable and maybe even desirable. It was reported as if we have no choice in the matter, so we must

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Daily iron ore price update (unusual destock)

October 19, 2018 - 09:15 -- Admin

Iron ore prices for October 18, 2018: Spot was firm. Paper eased. Steel is solid. Chinese port stocks fell against 142.5mt. They are still high but the destock to date has transpired through a period of rising prices. Although there is no direct link between port stocks and prices (that link is between mill stocks

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