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MacroBusiness Wednesday, May 19, 2021 - 12:00 Source

Australia’s personality disordered PM is up to his old tricks today. As the China-Australia relationship plumbs new depths he turns on gaslighting for locals and the CCP alike : The Australia-China relationship is fine, said ScoMo. The trade war on Australia is more “dance than bite.” Which is rubbish, of course. Despite great headline numbers,

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Renew Economy Wednesday, May 19, 2021 - 11:51 Source

Forty-six Victorian councils sign up to buy 240GWh of renewable electricity from two major wind farms in deal with Snowy Hydro-owned retailer Red Energy.

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MacroBusiness Wednesday, May 19, 2021 - 11:40 Source

Yesterday, Secretary of the Australian Treasury delivered a post-Budget briefing to the Australian Business Economists where he admitted that the collapse in immigration has helped lift Australia’s per capita GDP growth, but then endorsed a return to ‘Big Australia’ immigration levels anyway: One downward revision in the Budget was our expectations around population growth based

The post Dishonest Treasury last redoubt of Big Australia appeared first on MacroBusiness.

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Club Troppo Wednesday, May 19, 2021 - 11:39 Source

Below is a recent article of mine for the FT on a subject dear to my heart.

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MacroBusiness Wednesday, May 19, 2021 - 11:20 Source

Societe Generale with the note: The economic recovery in China continued in April but remained uneven. Growth in the industrial sector softened albeit at a still healthy pace, while services failed to strengthen further despite the containment of COVID-19. On the demand side, manufacturing and property investment quickened, but infrastructure investment slowed, probably due to

The post A global deflationary shock is building in China appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 19, 2021 - 11:00 Source

Bill Evans with the bad news for ScoMo: • The Westpac-Melbourne Institute Index of Consumer Sentiment fell 4.8% to 113.1 in May from 118.8 in April. While a 4.8% fall is always going to attract attention we should put this result in perspective. It is still the second highest print for the Index since April

The post Budget bursts consumer sentiment bubble appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 19, 2021 - 10:40 Source

The Grattan Institute’s household finances program director, Brendan Coates, has taken aim at the Victorian Government’s stamp duty increase for property transactions above $2 million. Under this change, stamp duty will increase to $110,000 plus 6.5% for every dollar above $2 million. This is up from the 5.5% rate that currently applies to all properties

The post The biggest problem with Victoria’s stamp duty hike appeared first on MacroBusiness.

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Renew Economy Wednesday, May 19, 2021 - 10:38 Source

Pioneering new Frequency Regulation Pilot program will allow grid operator to use household batteries rather than fossil fuels to balance the grid.

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Renew Economy Wednesday, May 19, 2021 - 10:34 Source

Iinternational consortium announces plans to develop 25GW wind and solar project in Oman which will produce millions of tonnes of green hydrogen.

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MacroBusiness Wednesday, May 19, 2021 - 10:20 Source

Last week, Roy Morgan Research reported that the preference for Australian-made goods rose during 2020, but fell for goods from Australia’s largest trading partner China. Specifically, 93% of Aussies said they are more likely to buy products made in Australia – up from 87% a year earlier. By contrast, only 21% of Australians said they would

The post Aussies shun “Made in China” goods appeared first on MacroBusiness.

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Renew Economy Wednesday, May 19, 2021 - 10:00 Source

Gas is dirty, and it is not cheap.

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MacroBusiness Wednesday, May 19, 2021 - 10:00 Source

Earlier this month, The AFR published a weekend headline report claiming the economy is facing chronic skills shortages and desperately needs immigration rebooted to provide businesses with the workers they need and to fuel the economic recovery. The key points from the report were: Neil Perry can’t find workers for his new restaurant. Former union

The post AFR admits high immigration crushes wages appeared first on MacroBusiness.

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Prosper Australia Wednesday, May 19, 2021 - 10:00 Source

LAND TAX DRIVES STABILITY Changes to land tax and the introduction of a windfall gains tax will drive stability in the Victorian housing market, according to Victorian economics research group Prosper Australia. Prosper advocacy director Karl Fitzgerald says the property lobby’s outcry is the reaction of an industry group caught with its hand in the […]

The post With Great Reward, Comes Great Responsibility first appeared on Prosper Australia.

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MacroBusiness Wednesday, May 19, 2021 - 09:40 Source

The ANZ-Roy Morgan consumer confidence index has failed to launch after last week’s federal budget, rising only 0.8% on the back a strong lift in sentiment across Sydney after it avoided another COVID breakout. The index is now tracking right on the historical average: According to ANZ Head of Australian Economics, David Plank: Consumer confidence

The post Big retail gets confidence lift appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 19, 2021 - 09:20 Source

The ferrous complex was hot again yesterday but was cooled overnight by a full-court press coming from China to pop the bubble: China is not happy and the NDRC has shown its hand: “The rise in commodity prices has both pros and cons on China. On the one hand, it is conducive to improving the

The post Daily iron ore price update (Angry China) appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 19, 2021 - 09:00 Source

I long ago ran out of pejorative adjectives to describe the Morrison Government machete hacking into the Australian energy market. Today it swings another stroke into the pulpy corpse: $600m will spend on the Hunter white elephant power pork station. The 660MW beast will fill a notional shortfall predicted by the AEMO to 150-200MW, easily

The post Morrison’s mates stuff their faces with power pork appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 19, 2021 - 08:30 Source

Another discerning change in confidence and sentiment overnight with Wall Street sharply reversing in the last hours after being up throughout most of the session. The cascade effect has seen Asian stock market futures rise in volatility with a probable 1% falls across the board on the open this morning. The USD also slumped, sending

The post Macro Morning appeared first on MacroBusiness.

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Renew Economy Wednesday, May 19, 2021 - 07:57 Source

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Renew Economy Wednesday, May 19, 2021 - 07:54 Source

AYCC - Fund Future Not Gas - 2021 federal budget - optimised

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Renew Economy Wednesday, May 19, 2021 - 06:39 Source

Scott Morrison Angus TaylorAngus Taylor commits $600 million to Kurri Kurri gas plant, extending a remarkable fossil fuel subsidy spending spree, even by this government's standards.

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MacroBusiness Wednesday, May 19, 2021 - 06:23 Source

The weakness afflicting the US dollar since its questionable labour market report continued overnight. Indeed, DXY is threatening to break down as EUR surges: The Australian dollar has badly lagged the DXY move lower and is fading against EUR: But a falling DXY is always fun for dirt: Not so big miners as China jumps

The post Australian dollar strong “path of least resistence” appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 19, 2021 - 00:15 Source

The Australian Labor Party has a unique opportunity to seize government. The Morrison Government has locked itself into a high immigration future by declaring open war on Australian workers via: Abolishing labour market testing requirements. Lowering costs and speeding up approval times for importing foreign workers. Expanding the skilled occupation list to include almost any

The post Does Labor want to govern or not? appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 19, 2021 - 00:10 Source

A bunch of leading indicators have been released suggesting the Australia’s red hot property market may soon run out of steam. First, the latest REA Insights report shows that weekly for sale searches have fallen sharply from their March peak across every market: Email enquiry to agents has also fallen sharply from recent peaks: Non-investors

The post Property indicators signal cooling market appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 19, 2021 - 00:01 Source

Global Macro / Markets / Investing: Investors Helplessly Watch Elon Musk Continue To Manipulate The Market – Global Trends Constantly Stirring Up Twitter, Elon Musk Lost The Second Richest Place In The World – Global Trends AT&T’s WarnerMedia To Merge With Discovery – The Techee Stocks fall in morning trading on Wall Street as tech

The post Links 19 May 2021 appeared first on MacroBusiness.

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Your Democracy Tuesday, May 18, 2021 - 19:24 Source

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Renew Economy Tuesday, May 18, 2021 - 17:14 Source

Federal Energy Minister Angus Taylor at the National Press Club. AAP Image/Lukas CochAngus Taylor sets new regulations opening up Australian Renewable Energy Agency to support carbon capture and storage, and potentially gas projects.

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Renew Economy Tuesday, May 18, 2021 - 16:44 Source

Transcript of the Energy Insiders podcast from the Smart Energy C

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MacroBusiness Tuesday, May 18, 2021 - 16:30 Source

Stock markets are finally finding their feet here in here in Asia after a wobbly start to the trading week, with Japanese stocks advancing strongly after a big stall yesterday. The co-ordinated rise in commodity prices overnight has helped confidence, with gold surging to $1870USD per ounce, while cryptocurrencies flail about as Bitcoin struggles at

The post Macro Afternoon appeared first on MacroBusiness.

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The Australian Independent Media Network Tuesday, May 18, 2021 - 16:20 Source

A clean, technology driven dystopia. A representation of our techno future. These were the introductory descriptions to a piece by science fiction author William Gibson on Singapore for Wired in 1993. “Imagine an Asian version of Zurich operating as an offshore capsule at the foot of Malaysia; an affluent microcosm whose citizens inhabit something that…

The post The gilt comes off: Singapore goes into lockdown appeared first on The AIM Network.

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Renew Economy Tuesday, May 18, 2021 - 15:01 Source

Get ready for exponential change in the global energy landscape as a global tsunami of capital flows to support the science of climate change.

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