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NAB/ASIC corruption exposed

November 26, 2018 - 10:30 -- Admin

Via Banking Day: CLEARLY DEFICIENT: ‘No saving NAB this time’ ASIC chair James Shipton did not quite tell Rowna Orr (pictured) at the banking royal commission. NAB’s inability to fully remedy illegal conduct in the foreign exchange market was laid bare in Friday’s hearing of the royal commission into misconduct in banking. In December 2016

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It’s time to shut down the foreign student rort

November 26, 2018 - 10:15 -- Admin

By Leith van Onselen Last week, the Australian Population Research Institute (APRI) released a startling new report arguing that Australian universities’ heavy reliance on overseas students is crushing education standards, is oversupplying accounting, IT and engineering occupations, adding to population pressures in Sydney and Melbourne, and is shaping Australia’s foreign policy. The reality is that the industry

McKell: Negative gearing critics “either misguided or cynical”

November 26, 2018 - 10:00 -- Admin

By Leith van Onselen Labor-aligned think tank, the McKell Institute, has vigorously defended Labor’s negative gearing and capital gains tax (CGT) policies, claiming reform is required now more than ever and labelling critics as “either misguided or cynical”. From The Guardian: …an updated report from the McKell Institute has argued that negative gearing reform is

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Bill Evans: RBA confirms no rate hike forever more

November 26, 2018 - 09:45 -- Admin

Via Bill Evans at Westpac: The minutes of the November monetary policy meeting of the Reserve Bank Board confirm the confident approach we have seen in the recent Statement on Monetary Policy. While consumption growth is still identified as a source of uncertainty, the Board expects it to remain around the 3% level over the

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Leftist “useful idiots” continue their war on wages

November 26, 2018 - 09:30 -- Admin

Here is what Crikey’s Bernard Keane wrote last week on immigration: The same policy breakdown that has occurred in other areas of neoliberal policymaking is now occurring on immigration. It’s generating the same response as in other areas. And it has the same causes. Rinse, repeat. Scott Morrison, who only a matter of months ago

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Daily iron ore price update (destocking rout)

November 26, 2018 - 09:00 -- Admin

Iron ore prices for November 23, 2018: Spot routed. Paper following. Steel smashed. Yet rebar inventories are still down. It does not make complete sense. It looks like steel mills are overproducing and the steel price is sinking as a result. They are responding by destocking raw materials. All normal for this time of year.

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Macro Morning (Trading Week)

November 26, 2018 - 08:30 -- Admin

By Chris Becker  Looking at Chinese stocks first, where last week saw the Shanghai Composite failed to stabilise above tentative support at the 2600 point level, having started the week nearer 2700 points. The bearish bias remains as momentum continues to suggest another downturn here in the wake of the Chinese/American trade negotiations: Japanese stocks are wilting here

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Goodbye Liberal Party

November 26, 2018 - 06:32 -- Admin

Let’s lead off with the disastrous Newspoll: An exclusive Newspoll conducted for The Australian shows the federal Coalition’s primary vote falling for the third poll in a row to a near-record low of 34 per cent, as senior ministers today ­defended claims that Victorian voters at the state poll had taken out their anger on Canberra. The

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UBS: Housing bust to crash economy

November 26, 2018 - 00:21 -- Admin

Westpac shows today that there is still a lot of downside left in the house price correction: Our last Housing Pulse showed buyer sentiment continuing to stabilise but a further weakening in housing markets suggested other factors were driving things – a tightening in lending standards in particular. Three months on its a similar story

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Property locusts demand housing bail-out

November 26, 2018 - 00:20 -- Admin

By Leith van Onselen With property prices and transaction volumes plummeting across Sydney and Melbourne: Australia’s property industry locusts are in full panic mode and have demanded governments take immediate policy action to prevent a housing market “free fall”, including by increasing immigration, relaxing foreign buyer restrictions, stamp duty cuts, and limiting the supply of

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