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Australian unis dumbed down by foreign students

November 21, 2018 - 10:45 -- Admin

By Leith van Onselen The Australian Population Research Institute (APRI) has released a new report, entitled Australia’s higher education overseas student industry: in a precarious state, which argues 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

Business parasites fasten to mass immigration

November 21, 2018 - 10:30 -- Admin

By Leith van Onselen Who would have guessed: the business lobby has rallied against cutting immigration because it wants access to more cheap labour and more customers: “We know that our cities are under pressure, but that’s exactly why we should double-down on getting the skills mix right, on planning [and make] a serious effort

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Surprise! Australians don’t like being stuffed into apartments

November 21, 2018 - 10:15 -- Admin

By Leith van Onselen Who would have thought: Australians don’t like being forced to cram in high-rise apartments and they are not as happy as those living in detached houses. From The AFR: Apartment living is set to play a big part in Australia’s housing future and yet those living in apartments aren’t as happy with

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Vic Labor digs immense infrastructure black hole

November 21, 2018 - 10:00 -- Admin

By Leith van Onselen The Grattan Institute’s transport program director, Marion Terrill, has ripped into the “astronomical” transport promises made in the lead-up to the Victorian Election, especially by Labor: There’s nothing unusual about politicians promising big-ticket items to curry favour with voters, but this election the size of these commitments is astronomical: more than $170 billion

Liberal Party moves to expel Turnbull

November 21, 2018 - 09:45 -- Admin

Hell hath no fury like a psychopath scorned: The Roseville branch of the Liberal Party moved last night for the expulsion of Malcolm Turnbull from the party. The motion, passed 16-2, will now go to the party’s federal electorate conference. Were it to be successful there, it would go to the party’s state council. Now

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Daily iron ore price update (sense at last)

November 21, 2018 - 09:15 -- Admin

Iron ore prices for November 20, 2018:    Spot, paper and steel all smashed. There should be more to come. Via Vertical Group: Over the past week we’ve had the chance to speak, on the phone, with a number of steel traders in China (i.e., CRM + Tangsong + SY + Min Metals + Liaoning Dongya

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Hodl to zero

November 21, 2018 - 09:00 -- Admin

Good stuff! Hodl to zero. via the FT: Pressure is building on regulators to increase their oversight of cryptocurrencies following a $15bn crash in bitcoin and irregularities at one of the world’s largest virtual trading platforms. …Central banks and securities watchdogs around the world are contemplating how to rein in the industry, where billions of

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Macro Morning

November 21, 2018 - 08:55 -- Admin

By Chris Becker Dead cats are piling up on Wall Street, led by tech stocks with Apple down nearly 4% with European tech issues also pulling markets down across the Atlantic. Brent crude fell 7% with WTI crude not far behind, also acting as a headwind with energy stocks losing, while US Treasuries almost reverted

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Australian dollar crashes with oil

November 21, 2018 - 08:09 -- Admin

DXY roared back last night as risk off reigns. EUR and CNY fell: The Australian dollar was crushed across the board: Gold was hit: Oil was smashed again: Base metals fell: Big miners got off lightly: EM stocks were pounded: Junk plunged: Treasuries were a little bid and the curve flattened: Same for bunds: Nasdaq

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Phil Lowe speaks of trust with forked tongue

November 21, 2018 - 06:36 -- Admin

RBA Governor Phil Lowe last night: Thank you for the invitation to address CEDA’s annual dinner. It has become a tradition at these dinners for the Governor of the RBA to talk about how we secure Australia’s continued economic prosperity. I would like to continue that tradition tonight. My focus is going to be on

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