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Oz Blog News Commentary
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

mirrormirror

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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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MacroBusiness Monday, May 17, 2021 - 09:00 Source

Lots of weekend pieces to choose from to wrap up the new budget panic. It is coming from fiscal conservatives that haven’t caught the MMT fever. Jacob Greber led them seeking to repair his credentials after some recent terrible reporting: All previous treasurers have committed to returning the budget to surplus in the long run.

The post The accidental success of the Morrison Government appeared first on MacroBusiness.

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MacroBusiness Monday, May 17, 2021 - 08:30 Source

The BTFD crowd saved the shenigans on Wall Street with a big follow through of risk taking on Friday night despite a very poor retail sales print, followed by a lacklustre industrial production number. Bad economic news is good stock buying news, so expect some more bounce and kick in the step when markets return

The post Macro Morning appeared first on MacroBusiness.

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John Quiggin Monday, May 17, 2021 - 05:28 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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MacroBusiness Monday, May 17, 2021 - 00:10 Source

For years Chief Executive of the Australian Industry Group and Migration Council of Australia Chair, Innes Willox, has lobbied against laws to prevent wage theft, lobbied against stricter labour hire rules, has spread copious propaganda about skills shortages, and has lobbied for endless mass immigration. Earlier this month, Innes Willox complained yet again about chronic skills

The post Migration Council chair demands lower wages appeared first on MacroBusiness.

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MacroBusiness Monday, May 17, 2021 - 00:02 Source

In the usual pattern of recent times, falling US yields bashed DXY lower and lifted commodities plus the Australian dollar. DXY up, EUR down: The Australian dollar jumped but it has taken some damage over the past week: Gold and oil lifted: Base metals couldn’t catch the bid: Nor big miners: EM stocks danced along

The post Australian dollar to parity on The Fourth Turning! appeared first on MacroBusiness.

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MacroBusiness Monday, May 17, 2021 - 00:01 Source

Global Macro / Markets / Investing: Financial Freedom and Privacy in the Post-Cash World – Cato Coronavirus 2nd wave immunization deficiency breaks under studies intends to concentrate abroad – Daily Stock Market News Can The Federal Reserve Print Money Forever? Or, How Continuing To Print Money To Support Deficit Spending May End Badly, With China’s

The post Links 17 May 2021 appeared first on MacroBusiness.

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Renew Economy Monday, May 17, 2021 - 00:01 Source

Victoria network proposes 20 big batteries and multiple syncons it says will fast-track new wind and solar and lessen need for new transmission lines.

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The Australian Independent Media Network Sunday, May 16, 2021 - 21:24 Source

Two photographs taken by Alex Ellinghausen last week pretty much sum up Liberal Member for Goldstein, Tim Wilson. The first shows Tim joining the Parliamentary Friends of Running (yes, there is such a thing) and the Indigenous Marathon Foundation members as they head off together on a four-kilometre jog to promote active lifestyles in Indigenous…

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George Monbiot Sunday, May 16, 2021 - 20:48 Source

When we get ripped off by con artists, in most cases we no longer have any recourse. It’s the result of disastrous political choices.

By George Monbiot, published in the Guardian 12th May 2021

It was a classic insulation scam. The conman had targeted a vulnerable elderly person, discovered a nonexistent damp problem in the loft, and claimed his product would solve it. In reality, it was useless and dangerous, more likely to cause damp than to remedy it. He had brought a card reader in his briefcase, and extracted the money on the spot.

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Your Democracy Sunday, May 16, 2021 - 14:08 Source

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The Australian Independent Media Network Sunday, May 16, 2021 - 12:20 Source

The recent Budget announcements are a mixed bag for Aged Care. They represent a step in the right direction; but much is still left to be done. Specifically, the Budget outlines an extra $17.7 billion over five years in new funding; but with an upwards trajectory. This is intended to provide an additional 80,000 home care packages over two…

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The Australian Independent Media Network Sunday, May 16, 2021 - 12:09 Source

By Andrew Friedman and Khaled Elomar   It would be hard to think of a more painful way to mark the end of the holy month of Ramadan and the lead up to the Jewish holiday of Shavuot than the senseless clashes that have battered the holy city of Jerusalem, and especially the Temple Mount/Haram al-Sharif,…

The post Jlem Violence Mars Holy Week for Jews, Muslims Alike appeared first on The AIM Network.

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Renew Economy Sunday, May 16, 2021 - 11:55 Source

Can a large industrialised society like Germany run securely

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The Australian Independent Media Network Sunday, May 16, 2021 - 06:00 Source

Before I even begin to comment on this year’s budget, I must point out that I am not an economist. In reality, I have no training in finance whatsoever. I have read that this is an economics by assumptions budget. Or an internal one. I have, however, picked up over many years of more than…

The post The budget: A layperson’s dilemma appeared first on The AIM Network.

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THE BLOT REPORT Saturday, May 15, 2021 - 20:51 Source

When I was in Tasmania in the late 1970s, a mate’s father died and left him a case of 1976 Penfolds Grange Hermitage. At about the same time, Grange won some prize at a wine show, which I seem to remember was in Paris. Almost overnight, the price of the wine shot up on the strength of that prize. Apparently, the 1976 vintage is considered  “one of the most awesome wines ever made at Grange”, and is a blend of 89% shiraz and 11% cabernet sauvignon grapes1. After my sojourn in Tasmania, I got a job as a mug geologist in Alice Springs in 1981.

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The Australian Independent Media Network Saturday, May 15, 2021 - 15:31 Source

With the babble about Cold War paranoia becoming a routine matter in Canberra, the treacherous ground for war with China is being bedded down and readied. The Yellow Peril image never truly dissipated from Australia’s politics. It was crucial in framing the first act of the newly born Commonwealth in 1901: The Immigration Restriction Act.…

The post “Elbowed and Hustled”: Australia’s Yellow Peril Problem appeared first on The AIM Network.

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THE BLOT REPORT Saturday, May 15, 2021 - 12:11 Source

About a decade ago then leader of the opposition, the incomparably inept Tony Abbott pointed at the Labor government’s budget deficits in dealing with the Global Financial Crisis (GFC), and the consequent increase in net and gross government debt and claimed that it was a “debt and deficit disaster”. The GFC response by the Rudd government was huge, with stimulus packages totalling well over $50 billion1. This led to a rapid rise in net government debt from about 1.2% of Gross Domestic Product [GDP]) in 2009 to about 16.0% of GDP by 2013 when the Abbott government was elected. They ran on a ticket of fiscal responsibility.

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MacroBusiness Saturday, May 15, 2021 - 00:01 Source

Global Macro / Markets / Investing: US Federal Reserve walking fine line with approach to rising inflation – SCMP Inflation Doesn’t Have to Mean High Interest Rates – WSJ Investors are worried about inflation data, but economists see it as a sign of temporary growth – CNBC Libor Replacement Race Heats Up – WSJ A

The post Weekend Reading 15-16 May 2021 appeared first on MacroBusiness.

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Your Democracy Friday, May 14, 2021 - 19:23 Source

pissed on power...pissed on power...

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

US Secretary of State Antony Blinken says the United States will not leave Australia alone in the face of economic coercion from China, and that such behaviour toward US allies will hamper improvement in US-Sino relations.

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

Stock markets are on the rebound here in Asia in-line with the BTFD crowd on Wall Street overnight, trying vainly to fill a hole from the impact of the latest US CPI print earlier in the week. The USD is pulling back slightly going into the London session against everything, including gold but definitely not

The post Macro Afternoon appeared first on MacroBusiness.

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Renew Economy Friday, May 14, 2021 - 15:27 Source

A summary of what happened behind the meter at the Smart Energy Conference, with some special guests.

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