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China apologists seize their moment

August 15, 2018 - 10:15 -- Admin

“Beijing” Bob Carr is back: Australia was “unimaginable” without the dynamic presence of Chinese-Australians. Those were the words of Malcolm Turnbull last week, resetting the rhetoric of Australia-China relations. The new language is welcome, especially to someone such as Kun Huang, who might be wondering if it had been a mistake to have been born

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Toronto house prices recovering after sharp plunge

August 15, 2018 - 10:00 -- Admin

By Leith van Onselen Toronto’s housing market is showing further signs of life after both prices and sales abruptly plunged. The Teranet-National Bank House Price Index for July was released overnight, which shows that house prices in Toronto are rebounding after plunging 7.4% between July and December 2017: As at July, Toronto values were 4.0% below

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Labor backs broadband tax for non-NBN services

August 15, 2018 - 09:45 -- Admin

By Leith van Onselen Labor has backed the Turnbull Government’s proposed broadband tax for residential and business users of non-NBN services. From IT News: The tax, which is officially called the regional broadband scheme (RBS), would see some 385,000 residential and business users of “NBN-equivalent” fixed line services hit with a $7.10 per month fee.

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Fly Cooliestar: All day, every day, low wages

August 15, 2018 - 09:30 -- Admin

By Leith van Onselen Last week, it was revealed that Qantas had secured a special migration deal with the federal government to bring in foreign pilots: The labour agreement granted last month allows the airline’s regional arm, QantasLink, to bring 76 pilots and instructors into the country for up to four years, avoiding new two-year restrictions

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APRA, ASIC “captured” by banks

August 15, 2018 - 09:15 -- Admin

This is old school AFR from Alan Mitchell: Economists call the problem “regulatory capture” and, as well as being under-resourced, it seems the financial sector’s main regulators, APRA and ASIC, may have fallen prey to it. None of these problems are new. The failures of governments and regulators to protect the public from the behaviour of industry have

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Memo to Greg Jericho: Lower UK immigration lifts wages

August 15, 2018 - 09:00 -- Admin

By Leith van Onselen Over the weekend, the poster boy for the globalist ‘Fake Left’, Greg Jericho, penned a spurious article in The Guardian spruiking Phil Lowe’s debunked immigration propaganda and claiming that Australia’s mass immigration ‘Big Australia’ policy was not contributing to weaker wages growth: Low wages growth, congestion, poor schooling, crime – pretty

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Macro Morning

August 15, 2018 - 08:17 -- Admin

By Chris Becker Last night saw a mild reversal in sentiment over the ongoing emerging markets risks, with US stocks ending slightly higher as USD continued its appreciation against most of the undollars. German 2Q GDP came in a little lower than expected, with the ZEW sentiment survey also remaining negative, but slightly improving as

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Turnbull to take Gillard strategy to election?

August 15, 2018 - 06:57 -- Admin

Via the AFR: The nation appears headed for an election over emissions reductions and power prices after a majority of Coalition MPs endorsed the National Energy Guarantee and set the scene for a showdown with Labor. …Last night, the states, which must pass separate legislation to establish the mechanism for the NEG but were awaiting

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Australian dollar tumbles despite global bounce

August 15, 2018 - 05:58 -- Admin

DXY is off to the races. CNY held and EUR is cooked: The Australian dollar tumbled again versus developed markets (DM): And emerging markets (EM): Gold held on: Oil didn’t: Nor base metals: Big miners are breaking down: EM stocks sank fingernails into the clifftop: EM junk bounced: Treasuries were sold: Bunds too: Italy is

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Turns out Bitcoin is like gold after all

August 15, 2018 - 05:57 -- Admin

That is, it crashes with risk as the USD climbs, which makes sense since it really is just an effusion of liquidity: My God that is one ugly bearish descending triangle! And let us not forget that BTC is the strongest of the cryptos: Long way down yet for this little ponzi.

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