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The Australian Independent Media Network Monday, May 17, 2021 - 18:00 Source

By 2353NM   It’s all very well for us to say how much we deplore the arrogance of our Prime Minister, but as Aussies who live under his ‘rule’ we can’t avoid the awkward fact that those who live elsewhere may see us as tarred with the same brush! How easy would it be for them…

The post Cigarettes, whiskey and electric cars appeared first on The AIM Network.

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MacroBusiness Monday, May 17, 2021 - 17:00 Source

Stock markets are wavering in their resolve here in Asia following the meltup on Wall Street Friday night, with Japanese and Taiwanese stocks falling again on continued COVID concerns. While gold continues to surge higher, now at $1852USD per ounce, the crypto world is all gaga following the abandonment of Bitcoin by Elon Musk, with

The post Macro Afternoon appeared first on MacroBusiness.

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Renew Economy Monday, May 17, 2021 - 14:58 Source

crookwell stage 3 wind Countryside landscape and wind farm - optimisedGPG's 97MW Victorian wind farm to be challenged in Supreme Court by locals hoping to have the planning permit evoked, just as construction is about to begin.

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Renew Economy Monday, May 17, 2021 - 14:56 Source

The new head of the Australian Energy Market Operator has started in his new job.

The post Daniel Westerman takes the reins as CEO of energy market operator appeared first on RenewEconomy.

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MacroBusiness Monday, May 17, 2021 - 14:40 Source

See our Coronavirus data Dashboard for individual country data. COVID-19 statistics and cases around the World     Europe Americas Asia   Vaccination & Cases   More COVID-19 Statistics and Analysis See our latest blog posts or podcasts here. See our Coronavirus data Dashboard for individual country data Data sources This is a list of

The post Weekly COVID-19 (Coronavirus) statistics and analysis flipbook appeared first on MacroBusiness.

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MacroBusiness Monday, May 17, 2021 - 14:20 Source

In the years before COVID, Australia suffered a chronic tourism deficit whereby the number of Australians travelling overseas far outnumbered the number of international tourists travelling to Australia: However, the closure of the international border has eliminated Australia’s tourism deficit, with Aussies forced to holiday at home instead: According to a new survey from Roy

The post Queensland tourism to boom on closed international border appeared first on MacroBusiness.

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MacroBusiness Monday, May 17, 2021 - 14:00 Source

There have been many opportunities to save Australian manufacturing at little cost and great gain: The property bubble could have been reined in 2003, 2008, 2013, 2019 and today to stop the financialization of the economy that was driving up the currency. Mining might have been taxed properly and recycled as an SWF offshore in

The post Morrison rebrands national energy suicide appeared first on MacroBusiness.

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MacroBusiness Monday, May 17, 2021 - 13:40 Source

While CBD businesses are crying foul about the loss of employees following COVID work from home (WFH) protocols, and state governments are spending millions to bribe workers to return to the CBD, a report produced on behalf of Business Western Sydney contends that people should continue to have the flexibility of working remotely once the

The post Suburban businesses want work from home to continue appeared first on MacroBusiness.

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Renew Economy Monday, May 17, 2021 - 13:37 Source

Looking at other nations around the world, the path to cutting greenhouse gas emissions seems clear.

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Renew Economy Monday, May 17, 2021 - 13:35 Source

Western Australia government is eyeing up to 100GW of new wind and solar to drive green hydrogen by 2030, and double that amount by 2040.

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MacroBusiness Monday, May 17, 2021 - 13:20 Source

A new survey by the Australian Human Resources Institute and the Human Rights Commission found that 17% of business leaders now classify people aged 51-55 as ‘older’ workers, compared to just 11% in 2018. Moreover, just under 50% of those surveyed stated that they would be reluctant to hire someone over a specific age. Key

The post Businesses shun older workers as they cry “shortage” appeared first on MacroBusiness.

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Renew Economy Monday, May 17, 2021 - 13:01 Source

Consortium of energy industry heavyweights unveils plan for large-scale renewable hydrogen production, transportation and export hub in NSW coal

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MacroBusiness Monday, May 17, 2021 - 13:00 Source

It’s beginning to play out as expected. Chinese headline growth for April was absolutely fine with year-to-date numbers still wildly distorted but falling back to earth roughly in line with expectations. Industrial production was 9.8%, retail sales 17.7% and fixed asset investment at 19.9% from last year’s depressed levels: At first glance, even construction sectors

The post Chinese growth powers but iron ore air pocket appears appeared first on MacroBusiness.

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THE BLOT REPORT Monday, May 17, 2021 - 13:00 Source

I have often railed against the overall poor quality of journalism in Australia1-4. However, when I refer to journalists, I of course exclude most of those who work for Murdoch’s News Corp, because calling them journalists is an insult to real journalists5-6. 

Many journalists in Australia are like toddlers in one way; they are obsessed with the here and now, with little knowledge or interest in what has gone before, by way of giving the here and now some context. To give you an example: 

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The Tally Room Monday, May 17, 2021 - 12:40 Source

With the final results now in from the Tasmanian state election, I wanted to go back to a post I wrote in early April about the role of parties in the Legislative Council.

The chamber has historically been dominated by independent members, but the two major parties have held a majority of seats since 2020.

Well that number has increased by one again in 2021, with a retiring conservative independent being replaced by a Liberal MLC in Windermere.

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MacroBusiness Monday, May 17, 2021 - 12:40 Source

The Grattan Institute has released a new report, entitled “Megabang for megabucks: driving a harder bargain on megaprojects”, which calls on governments to reject unsolicited rail and road projects, claiming this is one way in which they can cut the cost of such projects. It states that such proposals are most common in Victoria, while

The post Victoria: the home of infrastructure pork appeared first on MacroBusiness.

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MacroBusiness Monday, May 17, 2021 - 12:20 Source

Eight years ago I published an op-Ed at the ABC warning the former Abbott Government not to sign anymore ‘free trade agreements’ (FTAs). This advice was obviously ignored and the Coalition signed a series of FTAs over subsequent years with more currently in the pipeline. One of my key concerns with FTAs was that they

The post Beware the proliferation of ‘free trade’ agreements appeared first on MacroBusiness.

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MacroBusiness Monday, May 17, 2021 - 12:00 Source

Over the weekend, Victorian Treasurer Tim Pallas announced $2.7 billion worth of new taxes that will be levied on property owners in a bid to claw back some of $49 billion spent last year to support the state economy through months of lockdowns. The tax changes are summarised as follows: A premium stamp duty will

The post The good and bad of Victoria’s $2.7b property tax hit appeared first on MacroBusiness.

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The Australian Independent Media Network Monday, May 17, 2021 - 11:57 Source

‘McLachlan said he was frustrated that despite being “100 per cent acquitted” and “an innocent man”, he was not believed. He added that he hadn’t worked for three years because he had been cruelly targeted. “The crucifixion was so brutal,” he said. “In this post-Weinstein hashtag #MeToo world, I can’t win,” he said in the…

The post All Judas Needed Was Channel 7! Hitler May Have Needed More… appeared first on The AIM Network.

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MacroBusiness Monday, May 17, 2021 - 11:40 Source

Listen to the Chinese bond market because it tells you what is coming for the world, especially Australia. As Chinese inflation has surged in recent months, its yields keep on falling: Chinese factory inflation is running high and global inflation surging. Global money inflows and abundant liquidity are to blame. BTFD is in action. So,

The post Chinese bond market prices deflation appeared first on MacroBusiness.

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MacroBusiness Monday, May 17, 2021 - 11:20 Source

A new survey shows that nearly three quarters (73%) of Australians believe that Australia’s international border should remain largely closed until at least mid-2022, or until the pandemic is under control globally: Yet, with tens-of-thousands of Australian citizens remaining stranded abroad, Prime Minister Scott Morrison said that the return of international students was now the

The post Make universities pay if international students import virus appeared first on MacroBusiness.

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MacroBusiness Monday, May 17, 2021 - 11:00 Source

The Canberra Times’ Crispin Hull has comprehensively slaughtered Australia’s “brainless” cabal of mass immigration charlatans, explaining how negative net overseas migration has actually helped drive Australia’s V-shaped economic recovery: The Budget figures show that, in the pandemic-affected financial years (2019-20 to 2021-22) net migration is in total 661,000 people fewer than it would have been

The post Crispin Hull slaughters Big Australia charlatans appeared first on MacroBusiness.

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MacroBusiness Monday, May 17, 2021 - 10:40 Source

The market narrative so far this year has been a battle between three poles. The first, represented in Goldman Sachs, has been that bad news is good news: More than 90% of S&P 500 firms have now reported 1Q earnings and the results show EPS rose by 46% year/year, the fastest pace since 1Q 2010.68%of

The post Stagflation bust ahead for stocks? appeared first on MacroBusiness.

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Your Democracy Monday, May 17, 2021 - 10:30 Source

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When Fighting Erupts Between Israel and Hamas, the Question of War Crimes Follows

 

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MacroBusiness Monday, May 17, 2021 - 10:20 Source

Ah yes, the wonder that is crypto. Decentralsised, disintermediated, democractic. A revolution. Ahem…yeh right. Via FTAlphaville: Sooooo remember Tether? The last time we wrote about the “dollar-backed” stablecoin around these parts was back in February, after the New York District Attorney’s office decided to suspend the company — and sister crypto exchange Bitfinex — and

The post Bitcoin is a CDO without collateral appeared first on MacroBusiness.

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MacroBusiness Monday, May 17, 2021 - 10:00 Source

Capital Economics with the note that maps out the coming iron ore crash: Both bank lending and broad credit dropped off more sharply than most expected in April. Apart from during last year’s lockdown, loan growth hasn’t been this slow in nearly two decades. The net increases of both bank loans and aggregate financing (AFRE),

The post Chinese credit growth slowest in twenty years appeared first on MacroBusiness.

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xkcd.com Monday, May 17, 2021 - 10:00 Source

Who knew you could learn so much about sexual reproduction from looking at pictures on the internet!

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MacroBusiness Monday, May 17, 2021 - 09:40 Source

CoreLogic’s preliminary report on the weekend’s auctions reported a slightly higher clearance rate on the third biggest auction volumes of the year. The national preliminary clearance rate rose to 79.0% from 78.6% the prior weekend. This was off a whopping 2,892 auctions, down slightly from the prior weekend’s 3,033 (which was the second biggest weekend

The post Auction clearances stay strong despite high volumes appeared first on MacroBusiness.

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Renew Economy Monday, May 17, 2021 - 09:37 Source

In a year where climate action is accelerating and the EV industry is burgeoning, Australia's government is ramping up subsidies for oil refineries.

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MacroBusiness Monday, May 17, 2021 - 09:20 Source

The ferrous complex pumped and dumped last week in a manner consistent with a blowoff top: Spot boomed then busted. Paper too. And steel: Steel output remains huge driven by catch-up growth: We may well see seasonal patterns impose themselves from here with price downside ahead through June. This is the construction weak season with

The post Is the iron ore peak in? appeared first on MacroBusiness.

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