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Oz Blog News Commentary
MacroBusiness Thursday, April 19, 2018 - 11:30 Source

By Leith van Onselen Back in October, we reported how secret NSW Government documents had been released revealing that the Parramatta Light Rail Project – the centrepiece of the Government’s plans to cement Parramatta as Sydney’s second central business district, as well as facilitate the building thousands of apartments around Sydney Olympic Park – had

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The Australian Independent Media Network Thursday, April 19, 2018 - 11:03 Source

Tony Shepherd has been paid $55,000 for 17 days work producing a report which recommended that the rules governing the Northern Australia Infrastructure Fund be changed to allow the government to pretty much do what it likes with its five billion dollar slush fund. That’s the same Tony Shepherd who was paid $85,000 for a…

The post Tony Shepherd is well paid to tell the government what it wants to hear appeared first on The AIM Network.

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MacroBusiness Thursday, April 19, 2018 - 11:00 Source

By Leith van Onselen Figures from the International Monetary Fund (IMF) show that Australian government debt has risen faster than most other developed nations, increasing from 16.7% of GDP to an expected 41.7% this year – a jump of 25 percentage points. From The Australian: The IMF report comes as Scott Morrison prepares to unveil

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MacroBusiness Thursday, April 19, 2018 - 11:00 Source

The two year Aussie bond yield has broken out to three year highs today. The five year is trailing a little and the ten isn’t interested: Not only are we not building in a term premium, the curve is flattening as growth and inflation prospects fade over the medium term: We are still tracking the

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Club Troppo Thursday, April 19, 2018 - 10:59 Source
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Inside Story Thursday, April 19, 2018 - 10:52 Source

When Family First arrived seemingly out of nowhere at the 2004 federal election, snatching a Senate spot in Victoria and getting close in South Australia and Tasmania, it soon became apparent that there were some very smart operators in the back room. The deals they wangled with most other parties saw Steve Fielding, a Victorian with just 1.9 per cent of the primary vote, beat the Greens into the Senate, despite the latter receiving almost four times that figure. It must have involved some fancy rhetorical footwork.

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MacroBusiness Thursday, April 19, 2018 - 10:48 Source

The truth comes out: Victorian Energy Minister Lily D’Ambrosio says the state will not sign up to Malcolm Turnbull’s signature energy policy tomorrow, demanding more information before the Andrews government makes a final decision by August. …Ms D’Ambrosio said Victoria was engaged in the policy but wanted a more detailed design of the NEG, demanding

The post Victoria: There is no NEG appeared first on MacroBusiness.

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Renew Economy Thursday, April 19, 2018 - 10:46 Source

Rooftop PV systems can be adversely affected by things outside of a household's control – and without their knowledge. But you needn't be in the dark about it.

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MacroBusiness Thursday, April 19, 2018 - 10:36 Source

There are so many issues coming out of the Royal Commission into banking that its hard to maintain the outrage.  Here is yet another one that might have slipped through in the torrent of misdeeds: Hayne: “As beneficiary you can’t call for the asset which is held on trust for you? Is that right?” AMP: “Yes, that’s

The post How to dodge dodgy money manager fees appeared first on MacroBusiness.

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Renew Economy Thursday, April 19, 2018 - 10:35 Source

SA energy storage outfit 1414 Degrees to provide NSW poultry processing plant with electricity and heat via a 25MWh thermal energy storage system.

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MacroBusiness Thursday, April 19, 2018 - 10:30 Source

By Leith van Onselen The Australian Council of Trade Unions (ACTU) has been ridiculed for releasing projections arguing that a $50 increase in the minimum wage would create 40,000 to 57,000 jobs. From The AFR: …economists say unions assume wage increases will appear as if “manna from heaven” and fail to consider any effect of

The post ACTU’s ‘trickle-up’ minimum wage demand ridiculed appeared first on MacroBusiness.

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Renew Economy Thursday, April 19, 2018 - 10:28 Source

A new solar and storage scheme aims to tackle the problem of “power poverty” in Australia head on, by offering low income households around Australia the option to install both solar and battery storage for no upfront cost.

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MacroBusiness Thursday, April 19, 2018 - 10:27 Source

Breaking from ME Bank ME’s standard variable rate for existing owner-occupier principal-and-interest borrowers with an LVR of 80% or less, will increase by 6 basis points to 5.09% p.a. (comparison rate 5.11% p.a.^). Variable rates for existing investor principal-and-interest borrowers will increase by 11 basis points, while rates for existing interest-only borrowers will increase by

The post ME Bank “forced” to hike mortgage rates on “funding costs” appeared first on MacroBusiness.

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Inside Story Thursday, April 19, 2018 - 10:27 Source

In spite of the cuts that have reduced the ABC’s factual programming output by 60 per cent since mid 2014, Four Corners continues to screen state-of-art investigative journalism. “Mongrel Bunch of Bastards,” last week’s joint Fairfax/Four Corners exposé of the extraordinary powers of the Tax Office, was a prime example.

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MacroBusiness Thursday, April 19, 2018 - 10:00 Source

By Leith van Onselen A new report by workplace expert, Conrad Liveris, claims that the Federal Budget has become far too reliant on personal income tax receipts, with the share of Federal Budget revenues from income taxes has grown from 39.7% a decade ago to 47.2% currently, with the dollar increase in taxes from income

The post Australia’s extreme reliance on personal income taxes appeared first on MacroBusiness.

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MacroBusiness Thursday, April 19, 2018 - 09:30 Source

Even as the Australian financial sector is eaten by the giant royal commission crocodile, it appears the always bullish property industry has no idea that a voracious predator is belting its way. From the new ANZ/Property Council industry survey: The ANZ/Property Council Survey gauges the property industry’s: sentiments about the outlook for Australia’s national and

The post Property industry delighted at approach of giant banking croc appeared first on MacroBusiness.

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MacroBusiness Thursday, April 19, 2018 - 09:00 Source

By Leith van Onselen You know Australia’s immigration intake is way too high, and that the community mood has turned, when even Bernard Salt – the self proclaimed “unabashed supporter of a bigger Australia” – believes Melbourne is growing too fast and argues that immigration needs to be moderated. From Nine News (here and here): Melbourne’s

The post Bernard Salt: Melbourne’s growing too fast. Cut immigration appeared first on MacroBusiness.

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The Global Mail - Syndicated Stories Thursday, April 19, 2018 - 08:20 Source

Commonly referred to as the “Ethereum of security tokens”, Polymath is developing a standard for creating and distributing securities class cryptocurrencies. The Polymath platform allows businesses to register on their platform, require their desired level of KYC compliance, and allow […]

The post Polymath and its POLY token: A starter’s guide appeared first on The Global Mail.

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MacroBusiness Thursday, April 19, 2018 - 07:32 Source

DXY was firm last night: AUD was firm too: But not as strong as EM: Gold tried and failed to go higher: Oil succeeded: Base metals were strong: Big miners went nuts: EM stocks were firm: Junk didn’t buy it: US yields rose: Not bunds: Stocks firmed: So, as China cut its reserve ratio requirement

The post Dirt roars as China stimulates appeared first on MacroBusiness.

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Your Democracy Thursday, April 19, 2018 - 07:11 Source

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The Australian Independent Media Network Thursday, April 19, 2018 - 06:00 Source

Thursday 19 April 2018 The first headline that attracted my attention yesterday was “Greg Hunt interview goes off rails over ‘free speech’ and gay conversion therapy.” Now I was well aware that the conservative fight against homosexuality didn’t end with the success of the marriage equality legislation. Plus I was also aware of the “gay…

The post Day to Day Politics: Greg Hunt’s for Free Speech. appeared first on The AIM Network.

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Your Democracy Thursday, April 19, 2018 - 05:47 Source

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Brussels: Emmanuel Macron, who beat back the far-right National Front to win the French presidency, said on Tuesday that there is "an increasing fascination with illiberalism" in Europe and that divisions over values within the European Union were like "a European civil war."

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MacroBusiness Thursday, April 19, 2018 - 05:07 Source

Via Propertychat: As you are probably aware the lending landscape is changing rapidly, what was possible a month ago is now a struggle. One of the biggest issues we are facing right now is a new responsible lending requirement for property investors to fully disclose the ALL COSTS of maintaining their properties. This includes insurance,

The post Panic grips mortgage broker as bank standards skyrocket appeared first on MacroBusiness.

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The Global Mail - Syndicated Stories Thursday, April 19, 2018 - 04:20 Source

FunFair is a blockchain-based platform for online casino gambling that is intended to be used by independent operators under a licensing scheme. The company claims its system will have provably fair gambling, a streamlined currency deposit and withdrawal system and […]

The post Funfair and its FUN token: A starter’s guide appeared first on The Global Mail.

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The Global Mail - Syndicated Stories Thursday, April 19, 2018 - 02:20 Source

Thirteen cryptocurrency exchanges are now under the microscope of New York State Attorney General Eric Schneiderman, who has launched an inquiry into their policies and practices, according to a statement released by his office. Schneiderman’s office sent letters to Coinbase, […]

The post Cryptocurrency exchanges probed by New York attorney general appeared first on The Global Mail.

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MacroBusiness Thursday, April 19, 2018 - 00:20 Source

And via the ABC: Senior counsel assisting the commission Michael Hodge QC appears to have finally and completely lost patience with CBA witness Marianne Perkovic. Hodge: Ms Perkovic, is the reason that you are dissembling in the way that you are dissembling because you are trying to pre-emptively explain why it took CFPL (Commonwealth Financial

The post ABC’s The Business does rampant CBA, AMP corruption appeared first on MacroBusiness.

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MacroBusiness Thursday, April 19, 2018 - 00:20 Source

By Leith van Onselen Let’s recall Prime Minister Malcolm Turnbull’s lies last week about the causes of Sydney’s and Melbourne’s population pressures: Malcolm Turnbull: The thing that is driving the increase in foreigners in Australia – which is included in this term net overseas migration (NOM) – is foreign students, who are not part of

The post Foreign students haven’t caused Australia’s population pressures appeared first on MacroBusiness.

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MacroBusiness Thursday, April 19, 2018 - 00:20 Source

By Leith van Onselen Let’s recall Prime Minister Malcolm Turnbull’s lies last week about the causes of Sydney’s and Melbourne’s population pressures: Malcolm Turnbull: The thing that is driving the increase in foreigners in Australia – which is included in this term net overseas migration (NOM) – is foreign students, who are not part of

The post Foreign students haven’t caused Australia’s population pressures appeared first on MacroBusiness.

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MacroBusiness Thursday, April 19, 2018 - 00:19 Source

The natural tensions between the Australian democracy and Chinese autocracy are back today. Via The Australian: China’s ambassador to Australia has warned that the relationship between the two countries has been marred by “systematic, irresponsible and negative remarks” about China, and trading ties could be damaged if the situation is not repaired. In a frank

The post China warns Australia against being a democracy appeared first on MacroBusiness.

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North Coast Voices Thursday, April 19, 2018 - 00:16 Source

The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry was established on 14 December 2017, is due to hand down an interim report no later than 30 September 2018 followed by a final report by 1 February 2019.As of 13 April 2018 the royal commission has received 3,433 public submissions - 69% of these were Banking, 8% Superannuation 8% and 7% Financial Advice.Round 2 public hearings finish on 27 April 2018.View

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