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Renew Economy Monday, November 29, 2021 - 14:41 Source

Newly appointed Assistant minister for industry energy emissions reduction Tim Wilson.</body></html>

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MacroBusiness Monday, November 29, 2021 - 14:30 Source

As expected, the Coalition’s fake housing affordability inquiry is set to shift blame the states by accusing them of restrictive planning and profiteering from rising property taxes: The inquiry chairman, northern beaches federal Liberal MP Jason Falinski, said ­affordability could be improved over the long-term if the states boosted supply and slashed property charges. Mr

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MacroBusiness Monday, November 29, 2021 - 14:00 Source

Analysis conducted by the Australia Institute indicates that $3.9 billion has been allocated under seven federal grants programs since the federal Coalition came to power in 2013, with the programs being ones where ministers had discretion over where money was allocated. Some $2.8 billion, or 71% of the money, has gone to government-held seats, while

The post Coalition marginal seats dine on grant pork appeared first on MacroBusiness.

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Renew Economy Monday, November 29, 2021 - 13:41 Source

Golden Plains Wind Farm render

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Renew Economy Monday, November 29, 2021 - 13:39 Source

Torrens Island big battery AGL

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MacroBusiness Monday, November 29, 2021 - 13:30 Source

For years MB has lamented how Australia’s public service has been stripped raw by decades of government outsourcing, waves of senior redundancies, and a preference for governments to seek advice from paid consultants. The end result is that the “frank and fearless advice” that the public service was once renowned for has vanished, replaced by

The post The ‘cult of consultants’ is undermining Australia’s public service appeared first on MacroBusiness.

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MacroBusiness Monday, November 29, 2021 - 13:00 Source

Has China buckled on Aussie coal? There are some signs that it has done so: Australian miners are increasingly optimistic they may be able to resume selling coal to China, after official data confirmed small volumes of Australian coal cleared the Asian superpower’s borders in October. China imported 2.78 million tonnes of Australian coal in

The post Has China buckled on Aussie coal? appeared first on MacroBusiness.

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Renew Economy Monday, November 29, 2021 - 12:52 Source

Liquefied natural gas lng carrier ship with five tanks 1200 - optimised

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MacroBusiness Monday, November 29, 2021 - 12:30 Source

Following Infrastructure Minister Barnaby Joyce’ decision last week to reshuffled the board of Infrastructure Australia (IA), appoint former Tamworth mayor Col Murray (from Joyce’s own electorate) as chairman, and direct IA to adopt a greater regional and rural focus, Labor intends to commission an independent review of IA operations if it wins the next federal election.

The post Labor vows to overhaul Infrastructure Australia appeared first on MacroBusiness.

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MacroBusiness Monday, November 29, 2021 - 12:00 Source

ANZ-CoreLogic has released its 2021 housing affordability report, which shows that the barriers to buying a home in Australia has worsened materially following rapacious price growth and a sharp rise in the time taken to save a deposit: The national dwelling value to income ratio reached a record high 7.7 in the June quarter 2021.

The post 2021 a death blow for Aussie housing affordability appeared first on MacroBusiness.

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MacroBusiness Monday, November 29, 2021 - 11:44 Source

The ABS has just released business indicators data for the September quarter: Of most importance, inventories declined 1.9% over Q3 (versus expected -0.6% and +0.2% in Q2): This came as the Delta strain shut down NSW, Victoria and the ACT. Elsewhere, rising company profits on the back of stimulus was largely offset by falling wages

The post Decline in inventories negative for Q3 GDP appeared first on MacroBusiness.

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The Australian Independent Media Network Monday, November 29, 2021 - 11:43 Source

ScottyfromMarketing is doing the media rounds to assure us that political games will not distract his laser-like focus from dealing with the very serious issues facing this nation. Like voter fraud.  And the ABC.  And protecting the rights of religious people to be selectively nasty. Then there’s the Solomon Islands to protect before someone else…

The post ScottyfromMarketing won’t be distracted by political games appeared first on The AIM Network.

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MacroBusiness Monday, November 29, 2021 - 11:30 Source

TS Lombard with the note: For the PBoC, growth and financial stability concerns trump inflation and worries about monetary policy divergence. The bank’s recently released Q3 monetary policy report indicates a dovish shift and confirms our expectations of sustained policy support for the economy, particularly for the property sector. A 50 bps RRR cut is

The post Get set for a falling yuan appeared first on MacroBusiness.

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MacroBusiness Monday, November 29, 2021 - 11:00 Source

The Grattan Institute has release a report entitled “A place to call home”, which calls for the establishment of a $20 billion social housing future fund. Below is the blog post explaining the proposal followed by my response: Australia has a housing crisis. Australians are spending more of their incomes on housing than in the

The post Grattan calls for social housing future fund appeared first on MacroBusiness.

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xkcd.com Monday, November 29, 2021 - 11:00 Source

Hm, this burger place has a couple of good reviews, but LakeSlayer7 says he got food poisoning there and everyone should try this other place down by the lake instead.

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MacroBusiness Monday, November 29, 2021 - 10:54 Source

The Australian dollar is sitting right on vital support as markets digest Omicron. So far it has held but a break of support here opens big downside potential: The ASX200 has gapped 1.2% at the open but is being aided by firm American futures: Yields are rising as risk diminishes. Markets have this completely backwards.

The post Australian dollar teeters at cliff as ASX tanks appeared first on MacroBusiness.

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MacroBusiness Monday, November 29, 2021 - 10:30 Source

On Friday, Australia’s education and immigration ministers released a joint press release announcing reforms to visa arrangements to ensure a “rapid return of international students” [my emphasis]: The Morrison Government will introduce further targeted measures to support the international education sector to roar back, as international borders reopen… The new settings will extend measures to

The post Morrison opens student visa floodgates appeared first on MacroBusiness.

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MacroBusiness Monday, November 29, 2021 - 10:00 Source

The ferrous complex was hit on Friday 26th of November as the relief rally stalled then got infected with NU. Futures and steel were hammered: The latest drip of data is all bad. Mysteel’s weekly indexes are crap: Mid-November CISA output was terrible: Capital Economics is forcing me to review my assessment of the usefulness

The post Daily iron ore price update (all bad) appeared first on MacroBusiness.

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MacroBusiness Monday, November 29, 2021 - 09:38 Source

Victoria has recorded another 1007 COVID cases and three deaths: By comparison, Victoria recorded only 150 COVID cases and zero deaths: The next chart plots daily cases across both states and shows that NSW’s cases have plunged: Active cases are now ticking higher in Victoria, but remain low and stable in NSW: 4 More importantly,

The post NSW COVID cases plunge before Omicron onslaught appeared first on MacroBusiness.

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MacroBusiness Monday, November 29, 2021 - 09:30 Source

China’s Evergrande shakeout is not getting better. Dollar bond spreads for developers did narrow slightly last week but remain at paralysis levels: That said, incremental easing is still underway at the ground level: It needs to be. Property sales are still terrible: Land sales remain apocalyptic with developer balance sheets still in outright survival mode:

The post China’s Evergrande shakeout still in full swing appeared first on MacroBusiness.

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MacroBusiness Monday, November 29, 2021 - 09:30 Source

Risk markets lost their nerve on Friday night in the wake of the Omicron breakout across the world, the new COVID variant proving too much especially for European shares which fell over 4% while Wall Street lost more than 2% in thin trade due to the Thanksgiving holiday. Currency markets were volatile with Euro spiking

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Monday, November 29, 2021 - 09:00 Source

Defence Minister Peter Dutton was unleashed on Friday: Today, we face the most significant change in our strategic environment since the Second World War. Once again, Australia finds herself in a region at the very epicentre of global strategic competition. A region witness to a military build-up of a scale and ambition that, historically, has

The post Let the Dutton Doctrine stand appeared first on MacroBusiness.

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MacroBusiness Monday, November 29, 2021 - 08:00 Source

This weekend marked the biggest weekend of auctions since CoreLogic began tracking the market in 2008, with a whopping 4261 homes going under the hammer: Accordingly, Australia’s preliminary auction clearance rate fell to 71.4% – a figure that will likely fall into the high 60s once all results are counted: According to CoreLogic: This week

The post Auctions deluge drowns clearance rates appeared first on MacroBusiness.

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John Quiggin Monday, November 29, 2021 - 07:59 Source

A new sandpit for long side discussions, conspiracy theories, idees fixes and so on.

To be clear, the sandpit is for regular commenters to pursue points that distract from regular discussion, including conspiracy-theoretic takes on the issues at hand. It’s not meant as a forum for visiting conspiracy theorists, or trolls posing as such.

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John Quiggin Monday, November 29, 2021 - 07:57 Source

Back again with another Monday Message Board.

Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please. If you would like to receive my (hopefully) regular email news, please sign up using the following link.

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Your Democracy Monday, November 29, 2021 - 07:47 Source

 pimpspimps

"According to US lawyer Geoff Shepard (...), documents found at the National Archives in Washington show that Watergate was not a Nixon plot to spy on the Democratic Party, but a plot orchestrated by the Democrats against him.

 

 

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Renew Economy Monday, November 29, 2021 - 07:38 Source

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MacroBusiness Monday, November 29, 2021 - 00:20 Source

Here is what the South African National Centre for Communicable Diseases has to say: The Network for Genomics Surveillance in South Africa (NGS-SA, www.ngs-sa.org), which includes the National Institute for Communicable Diseases (NICD), KRISP at the University of KwaZulu-Natal (UKZN), University of Cape Town (UCT), Stellenbosch University (SUN), the University of the Free State (UFS),

The post All about Omicron appeared first on MacroBusiness.

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MacroBusiness Monday, November 29, 2021 - 00:15 Source

Last week, the Morrison Government announced that Australia will re-open its international border to overseas students, skilled visa holders and working holiday makers, with Home Affairs Minister Karen Andrews expecting that at least 200,000 migrant workers will arrive in Australia by July 2022: “We are working on a figure of 200,000, it may well be

The post Immigration reboot under threat from new COVID variant appeared first on MacroBusiness.

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MacroBusiness Monday, November 29, 2021 - 00:06 Source

DXY was smashed Friday night and EUR roared as the NU COVID strain rocked markets: Australian dollar was NUked on all major crosses: Oil! Metals were not hit quite so hard: Nor miners: But, ominously, EMs stocks shattered support in their bearish pattern: Worse, the rout was led by junk debt: Bonds boomed: And stocks

The post Australian dollar NUked appeared first on MacroBusiness.

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