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Articles from MacroBusiness

Final auction clearance rate highest in 13 months

June 20, 2019 - 13:30 -- Admin

By Leith van Onselen Last weekend, CoreLogic released its preliminary auction clearance rates, which revealed the following results: Today, CoreLogic has released its final auction results, which reported a 4.6% decline in the final national auction clearance rate to 61.8% – well above the same weekend last year (52.4%) and way above last week’s 48.3%:

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Aussie banks run by psychos

June 20, 2019 - 13:00 -- Admin

Honestly, our regulators are the biggest pack of no-hopers, via the AFR: The psychologist inserted by the corporate regulator into boardroom discussions of more than 20 blue-chip companies including Qantas, Woolworths and AMP warns that Australia’s financial sector culture is broken. Elizabeth Arzadon, the regulator’s psychologist of choice, also warns that resistance by boards to

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How the Pharmacy Guild gouges Australians

June 20, 2019 - 12:45 -- Admin

By Leith van Onselen You would be hard pressed to find a bigger racket than Australian pharmacies. How many any other industries in Australia have had laws implemented that ban new entrants from opening within 1.5 kilometers of an existing business? How many other industries allow only registered professionals in the field to own and

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Australian dollar launches golden rocket

June 20, 2019 - 12:29 -- Admin

The Australian dollar is soft in the circumstances of a falling DXY today: Bonds are madly bid: XJO is thundering towards record highs as the equity risk premium surges: Dalian an outright bubble now, ignoring all bad news: Not so much Big Iron: Big Gas is ignoring bad news too: Big Gold is moon shooting

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Population growth surges past 400,000 on rising immigration

June 20, 2019 - 12:14 -- Admin

By Leith van Onselen The Australian Bureau of Statistics (ABS) has released its Australian Demographic Statistics for the December quarter of 2018, which revealed that Australia’s population continues to grow manically led by surging net overseas migration (NOM), mostly into Sydney and Melbourne. According to the ABS, Australia’s population rose by 1.6% in the 2018

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We’re all slaves now, as gig economy booms

June 20, 2019 - 12:00 -- Admin

By Leith van Onselen Robert Gottliebsen has hailed the gig economy as enabling many Australians from coping with the rising cost of living and avoiding going into mortgage arrears. Gotti has also cautioned against greater regulation of the gig economy: Australians have embraced the so-called gig economy with great enthusiasm and an incredible survey commissioned

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Hewson: ScoMo lost in China

June 20, 2019 - 11:45 -- Admin

Via John Hewson today: Our positions on China virtually blow in the wind. It seems we simply hope to muddle through, rather than to develop and respond in terms of a well thought out and defined longer-term strategy on our relations with China. This, in itself, undermines our credibility in Chinese eyes, a nation that

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Industry parasites demand more privatisations

June 20, 2019 - 11:30 -- Admin

With the net debt of Australia’s state governments set to rise sharply in coming years to finance infrastructure projects for Australia’s population ponzi, analysis shows they have almost $220 billion worth of assets that could be privatised. Accordingly, IFM Investors CEO, Brett Himbury, is calling for further asset sales to the nation’s superannuation funds. From

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Vale mulls S11D expansion

June 20, 2019 - 11:00 -- Admin

Via BNAmericas: Brazil’s supreme court of justice has authorized local miner Valeto resume operations at its largest iron ore asset in Minas Gerais state, the 30Mt/y Brucutu complex. In a release on Wednesday, Vale said that the decision will allow the full resumption of wet processing operations at Brucutu within 72 hours, thus increasing the average

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NZ GDP per capita growth lowest since 2011

June 20, 2019 - 11:00 -- Admin

By Leith van Onselen Statistics New Zealand has released national accounts figures for the March quarter of 2018, with Gross domestic product (GDP) rising by 0.6% over the quarter to be up 2.7% year-on-year. GDP per capita rose by 0.1% over the March quarter and rose by 0.9% year-on-year – the lowest annual GDP per

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