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The Australian Independent Media Network Tuesday, October 12, 2021 - 16:38 Source

The returns have not been impressive. For an app essentially anointed as a saviour for tracing purposes in the worst pandemic in a century, COVIDSafe is a lesson in exaggerated prowess and diminished performance. It was billed as necessitous and supremely useful. Australian Prime Minister Scott Morrison was fashionably vulgar in linking the use of…

The post COVIDSafe: The Failure of an App appeared first on The AIM Network.

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Your Democracy Tuesday, October 12, 2021 - 16:03 Source

gasgas

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Renew Economy Tuesday, October 12, 2021 - 15:52 Source

Kogan Creek Power Station landscape - optimisedQueensland government-owned coal generator to build a solar and battery-powered hydrogen electrolyser near Chinchilla on the Darling Downs.

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Renew Economy Tuesday, October 12, 2021 - 15:45 Source

Snowy Hydro's Valley gas-fired power station in Tasmania.The Kurri Kurri gas generator makes no sense: It has only six hours storage and can't compete against faster, cheaper, cleaner batteries.

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Renew Economy Tuesday, October 12, 2021 - 15:15 Source

If Australia joins others in committing to net zero emissions by 2050, it will need to have a zero carbon grid by around 2035 to get there.

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Renew Economy Tuesday, October 12, 2021 - 15:05 Source

Australia's second biggest aluminium smelter now has a brighter future after Rio Tinto flags it could be powered by wind and solar.

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MacroBusiness Tuesday, October 12, 2021 - 15:00 Source

In the lead up to the last federal election Prime Minister Scott Morrison promised a national anti-corruption commission. Instead, the Morrison Government has put forward a farcical model that experts believe will actually “hide corruption, not expose it”. Today Michael Pascoe gives a strong hint why: the Coalition is swimming in graft and corruption: Exposure

The post There’s a reason why ScoMo opposes an anti-corruption watchdog appeared first on MacroBusiness.

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MacroBusiness Tuesday, October 12, 2021 - 14:30 Source

A Roy Morgan analysis of people movements shows that Melbourne’s and Sydney’s CBDs resemble ghost towns with movements only 17% of pre-COVID levels: The average 7-day movement level in the Sydney CBD hit a low of 8% of pre-pandemic levels in late July and have slowly increased since then as restrictions have been eased as

The post Sydney/Melbourne CBD’s become ghost towns appeared first on MacroBusiness.

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Renew Economy Tuesday, October 12, 2021 - 14:24 Source

The spot price for Australian Carbon Credit Units (ACCUs) leaped another 13% to a new record high and just short of $30/tonne.

The post Carbon spot price surges to nearly $30/tonne as demand grows for direct contracts appeared first on RenewEconomy.

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MacroBusiness Tuesday, October 12, 2021 - 14:00 Source

BofA with the note: 3Q: Expect an in-line quarter, but guidance could be ugly S&P 5003Q earnings kick off this week. Following another huge beat in 2Q, 3Q EPS has risen 3% over the past three months to $49.06 (+27% YoY); typically the estimate falls by4% into the quarter. Consensus forecasts imply the 2-year growth

The post Peak earnings ahead appeared first on MacroBusiness.

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MacroBusiness Tuesday, October 12, 2021 - 13:30 Source

According to CoreLogic, property listings are experiencing a spring bounce with both new listings and total listings rising: However, total listings were still 11.0% lower year-on-year across the capital cities, despite the rebound: At the same time as listings are rising, mortgage demand is easing, according to CoreLogic’s leading index: Hopefully this will take some

The post Property listings enjoy spring bounce appeared first on MacroBusiness.

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MacroBusiness Tuesday, October 12, 2021 - 13:00 Source

From the Housing Industry Association: “Sales of new detached houses increased by 2.3 per cent in September compared to the previous month,” stated HIA Economist Tom Devitt. The HIA New Home Sales report – a monthly survey of the largest volume home builders in the five largest states – is a leading indicator of future

The post New home sales strengthen in September appeared first on MacroBusiness.

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MacroBusiness Tuesday, October 12, 2021 - 12:30 Source

From Roy Morgan Research: In September 2021 Australians expected inflation of 4.5% annually over the next two years, up 0.2% points and the highest Inflation Expectations for three years since October 2018. Inflation Expectations are now a large 1.2% points higher than a year ago in September 2020 (3.3%). Inflation Expectations are still 0.2% points

The post Inflation expectations hit three-year high appeared first on MacroBusiness.

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Your Democracy Tuesday, October 12, 2021 - 12:20 Source

blueybluey

In the comic The Secret of the Swordfish, (published 1946-1950, subsequently republished till 1984) the last scene shows Blake and Mortimer back in a ruined and destroyed London, with Blake commenting that they will rebuild and that civilisation, once again, has had the last word - "hopefully, this time, for good”.

 

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MacroBusiness Tuesday, October 12, 2021 - 12:00 Source

I noted last week that shipping rates from China to the US had begun to deflate: Semiconductors appear to have peaked now as well: The US inventory shortage appears to have bottomed: Here are the components: A expect all of these industrial prices to boom and bust like lumber and iron ore before them. Not

The post Shipping, chips begin to deflate appeared first on MacroBusiness.

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Renew Economy Tuesday, October 12, 2021 - 11:38 Source

RedEarthES-SunRise-Installation-Fig-Tree-Pocket-QLD- optimisedRedEarth Energy Storage announces completion of "significantly oversubscribed" pre-IPO funding round ahead of a planned ASX listing in 2022.

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MacroBusiness Tuesday, October 12, 2021 - 11:30 Source

Goldman with the note. The point is, property is much larger in GDP terms than anywhere else and you need to add negative wealth effects as well if it deflates: China’s property sector has been in focus given intense regulatory pressure on developers’ leverage and banks’ mortgage exposure, and consequent contraction in sales and construction

The post How big is the Chinese property market crash? appeared first on MacroBusiness.

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MacroBusiness Tuesday, October 12, 2021 - 11:00 Source

Nearly four in 10 new apartment buildings in NSW have serious defects, costing an average $331,829 per building to fix, according to new research by the Strata Community Association NSW: A survey of 1400 strata managers of residential buildings of four storeys or higher built in the past year was completed as part of a

The post Sydney’s highrise apartments riddled with defects appeared first on MacroBusiness.

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Renew Economy Tuesday, October 12, 2021 - 10:54 Source

scott morrison kyoto international talks aap climate change - optimisedMorrison still hasn't landed a 2050 target as the Nationals state their demands – but there's at least one sign Morrison will head to Glasgow.

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Renew Economy Tuesday, October 12, 2021 - 10:54 Source

scott morrison kyoto international talks aap climate change - optimisedMorrison still hasn't landed a 2050 target as the Nationals state their demands - but there's at least one sign Morrison will head to Glasgow.

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MacroBusiness Tuesday, October 12, 2021 - 10:40 Source

Two months ago, Infrastructure Victoria forecast that the state’s population will grow from around 6.6 million at the moment to 10.8 million by 2051, and that the population of Melbourne’s ‘fringe’ suburbs will increase by over 900,000 people over that time: Now Infrastructure Australia has released a new report warning that infrastructure and services are

The post Population growth “rapidly outstripping” Melbourne infrastructure appeared first on MacroBusiness.

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Prosper Australia Tuesday, October 12, 2021 - 10:25 Source
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MacroBusiness Tuesday, October 12, 2021 - 10:20 Source

Via ANZ: ANZ-Roy Morgan Aus Consumer Confidence rose by 1.0% nationally. Confidence in Sydney rose by 2.5%, along with gains in Brisbane (14.4%) and Perth (3.1%), and partly offset by drops in Adelaide (-3.4%) and Melbourne (-3.6%). #ausecon @DavidPlank12 @roymorganonline @arindam_chky pic.twitter.com/5RlxFnRgvE — ANZ_Research (@ANZ_Research) October 11, 2021

The post Consumer confidence grinds higher appeared first on MacroBusiness.

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MacroBusiness Tuesday, October 12, 2021 - 10:00 Source

An incoming premier brief from top bureaucrats within the NSW Department of Premier and Cabinet have told Premier Dominic Perrottet that Australia needs an explosive surge of 2 million migrants to boost the economy: Top bureaucrats last week urged Mr Perrottet to seize the national leadership initiative by pushing a “national dialogue on an aggressive

The post NSW Government: We need “‘explosive” surge of 2 million migrants appeared first on MacroBusiness.

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MacroBusiness Tuesday, October 12, 2021 - 09:30 Source

The ferrous complex was nuts on October 11, 2021 as spot launched, paper faded overnight and steel was pretty soft: I could observe briefly that roughly one-third of the demand for the global seaborne iron ore market is in complete meltdown but nobody is listening so I’ll just make a joke about it and move

The post Daily iron ore price update (pass the popcorn) appeared first on MacroBusiness.

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MacroBusiness Tuesday, October 12, 2021 - 09:27 Source

NSW Health has recorded only 360 new COVID cases and five deaths: NSW #COVID19 UPDATE – TUESDAY 12 OCTOBER 2021 In the 24 hour reporting period to 8pm last night: -90.4% of people aged 16+ have had one dose of a COVID-19 vaccine -74% of people aged 16+ have had two doses of a COVID-19

The post NSW COVID cases crash to 360 appeared first on MacroBusiness.

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MacroBusiness Tuesday, October 12, 2021 - 09:09 Source

Victoria has recorded another sharp fall in new COVID cases. Over the past 24 hours, 1466 locally acquired COVID cases were recorded – down heavily from the peak of 1965 recorded on Saturday: Reported yesterday: 1,466 new local cases and 0 cases acquired overseas. – 36,383 vaccines administered – 68,509 test results received – Sadly,

The post Victorian COVID cases dive appeared first on MacroBusiness.

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MacroBusiness Tuesday, October 12, 2021 - 09:00 Source

There’s not much point repeating a couple of good posts from ZH on the China property situation given they capture my thoughts so here they are. First up, the Chinese property crash is getting worse fast: Having already suffered the fastest drop on record, Chinese junk bond markets – where property developer issuers dominate –

The post China’s property crash versus Wall St’s commodity mania appeared first on MacroBusiness.

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MacroBusiness Tuesday, October 12, 2021 - 09:00 Source

Wall Street fumbled again overnight as concern over rising energy prices and inflation continued to weigh on stock markets with European equities also mixed despite a much lower Euro. USD remained relatively strong against most of the major currencies, particularly Yen but commodity currencies like the Australian dollar are rallying as 10 year Treasury yields

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Tuesday, October 12, 2021 - 08:13 Source

DXY is strong and EUR weak: The Australian dollar is melting up regardless: Chasing the energy melt-up: As metals go with it: Miners are back! EM stocks are not: EM junk has fallen through the trapdoor. Look out equities: US bond markets were closed. Australian yields are moonshooting: Westpac has the data: Event Wrap Danish

The post Australian dollar melts-up into commodity mania appeared first on MacroBusiness.

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