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MacroBusiness
Thursday, June 6, 2019 - 11:15
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By Leith van Onselen The Reserve Bank of New Zealand’s (RBNZ) proposal to impose higher capital requirements on the local arms of Australian banks has been defended by John Vickers, the Bank of England’s former chief economist. He argues that the public benefit of safer banks outweighs any risks associated with such a move. Vickers The post Former BoE chief economist backs RBNZ bank capital hike appeared first on MacroBusiness. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] |
MacroBusiness
Thursday, June 6, 2019 - 11:00
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By Leith van Onselen New figures show that fewer than 157,000 people began traineeships or apprenticeships during calendar 2018, a decline of 3.7% year-on-year. The number of people completing such courses in 2018 fell by 5.5% in 2018, and crashed 43.5% over the last five years. Jenny Lambert of the Australian Chamber of Commerce & The post As dead-end degrees balloon, traineeships and apprenticeships collapse appeared first on MacroBusiness. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] |
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MacroBusiness
Thursday, June 6, 2019 - 10:45
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By Leith van Onselen Auckland and Sydney have much in common. Both are the largest cities in their respective nations. Both are harbour cities. Both have ridiculously expensive housing, with median dwelling values that hover near the $1 million mark. And both are the international gateways to New Zealand and Australia, and thereby attract the The post As migrants flood Auckland and Sydney, locals are forced out appeared first on MacroBusiness. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] |
MacroBusiness
Thursday, June 6, 2019 - 10:30
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Via the Kouk: The Reserve Bank finally did it. Cut interest rates that is. In an effort to redeem itself from what is clearly its worst policy mistake since the lead into the early 1990s recession, the RBA has belatedly delivered the 13th interest rate cut in this very long monetary policy easing cycle. It The post Kouk slams Lunatic RBA appeared first on MacroBusiness. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] |
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The Tally Room
Thursday, June 6, 2019 - 10:30
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As I’ve been putting together these maps I was particularly interested in seeing what the booth map looked like for the Victorian Greens. There wasn’t a consistent story to come out of the election when it comes to swings for the Greens. The Greens had a tough ask in retaining all six of their Senate seats up for election. At the moment they should win five and possibly six, which is a pretty good outcome. |
MacroBusiness
Thursday, June 6, 2019 - 10:15
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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 3.5% decline in the final national auction clearance rate to 58.0% – above the same weekend last year (54.1%) and above last week’s 57.7%: As you The post Final auction clearance rate continues rebound appeared first on MacroBusiness. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] |
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MacroBusiness
Thursday, June 6, 2019 - 10:00
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Meet your skylarking Resources Minister writing in The Australian: A couple of months ago Bob Brown thought it was a fantastic idea to invade Queensland with an army of hypocritical and condescending activists. It is the one thing Bob and I agree on: I thought it a fantastic idea, too. …the truckies exploded. “Look at the The post Matt Canavan should be sacked in the national interest appeared first on MacroBusiness. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] |
MacroBusiness
Thursday, June 6, 2019 - 09:45
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By Leith van Onselen Western Australia’s economy continues to whither on the vine, with yesterday’s national accounts recording a fifth consecutive quarterly decline in final demand, falling by 0.3% in the March quarter: As shown above, the Western Australian economy is experiencing its fourth recession when measured by real final demand. Meanwhile, annual final demand The post WA’s quadruple-dip recession worsens appeared first on MacroBusiness. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] |
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MacroBusiness
Thursday, June 6, 2019 - 09:30
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One the craziest Domainfax campaigns in living memory doubled down again today. First, it was Morgan Stanley’s James Gorman: Morgan Stanley chief executive James Gorman has warned central banks that further cuts to official interest rates risk reducing their “firepower” to deal with an unforseen geopolitical crisis. After Reserve Bank of Australia governor Philip Lowe suggested The post Just how dumb is the AFR’s rate cuts jihad? appeared first on MacroBusiness. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] |
The Australian Independent Media Network
Thursday, June 6, 2019 - 09:27
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Let’s just consider those AFP* officers for a moment! It seems that the public is never happy. If we go back to the raid on the AWU offices a number of people complained that they were looking for documents from ten years earlier which the union could have already legally destroyed. “If they were so… The post Let’s Stop The Hysteria, The Press Are Still Free! appeared first on The AIM Network. |
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MacroBusiness
Thursday, June 6, 2019 - 09:15
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Via Domain: China is the key suspect in the theft of huge volumes of highly sensitive personal data from the Australian National University, which intelligence officials now fear could be used to “groom” students as informants before they move into the Australian public service. The hacking, which occurred despite the government’s elite electronic spy agency The post China steals everybody’s ANU data appeared first on MacroBusiness. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] |
MacroBusiness
Thursday, June 6, 2019 - 09:00
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Iron ore prices for June 5, 2019: Nothing burger action. From Argus: Brazil’s iron ore exports remain on the recovery track, with May shipments totalling 29mn t, up from 18.3mn t in April, economy ministry data show. But exports were still 16pc below May 2018, following April’s 29pc decline on the year. Brazilian iron ore The post Daily iron ore price update (Brazil bounce) appeared first on MacroBusiness. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] |
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MacroBusiness
Thursday, June 6, 2019 - 08:31
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By Chris Becker A slump in hiring conditions in the US saw stocks improve and a possible retraction of tariffs against Mexico lifted USD against all the majors overnight. Oil prices slumped nearly 3% as long positions continued to be abandoned in the wake of decade high petrol stockpiles in the US. Yesterday saw Asian stock markets The post Macro Morning appeared first on MacroBusiness. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] |
Your Democracy
Thursday, June 6, 2019 - 08:03
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Thought bubble caption: Donald: "I'm going to kill the guy who put me in this straightjacket..." The Queen: "Thank God, someone put this pussy-grabber in a straightjacket..." Melania: "Why are my boobs in a straightjacket designed like a Sydney Opera House?" |
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MacroBusiness
Thursday, June 6, 2019 - 05:35
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DXY posted a minor recovery last night as EUR fell and CNY was stable: The Australian dollar fell popped and dropped against DMs: It was mixed against EMs: Gold still hinting at further DXY weakness: Oil is screaming trouble for growth and markets: Metals were weak: And minors: EM stocks fell: US junk gained again, The post Australian dollar pops and drops on US economy u-turn appeared first on MacroBusiness. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] |
MacroBusiness
Thursday, June 6, 2019 - 00:15
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Honestly, they never learn. This time from Alexandra Heath, Head of Economic Analysis at the world’s happiest central bank: Introduction Good morning and thank you to the AMEC for the invitation to be here today. The resource sector makes a significant contribution to the Australian economy. It accounts for about 20 per cent of business investment and almost 60 per cent The post Lunatic RBA: Resources to boom forever appeared first on MacroBusiness. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] |
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MacroBusiness
Thursday, June 6, 2019 - 00:15
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By Leith van Onselen Australia’s production, as measured by aggregate real GDP, continues to diverge wildly from the growth (or lack thereof) in ordinary Australian’s living standards. To illustrate why, I have once again deflated three measures of the domestic economy, as provided in the March quarter national accounts (released yesterday), by the ABS’ population The post 8 years of economic pain for Aussie households appeared first on MacroBusiness. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] |
MacroBusiness
Thursday, June 6, 2019 - 00:10
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Earlier this week, the Herald-Sun reported that gangs have been targetting Chinese international students near Monash University, with 13 separate violent attacks at knifepoint reported over the past 18 days. The assaults have prompted Federal Education Minister, Dan Tehan, to ask his Department to examine ways to ensure student safety in order to protect Australia’s The post Attacks on Chinese international students put entire industry at risk appeared first on MacroBusiness. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] |
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MacroBusiness
Thursday, June 6, 2019 - 00:01
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Global Macro / Markets / Investing: Stock Markets Did Far Better Under Obama Than Trump: S&P, Nasdaq, Dow Jones – Fortune Study Finds Trump Tax Cuts Failed to Do Anything But Give Rich People Money – NY Mag Negative Rates, Designed as a Short-Term Jolt, Have Become an Addiction – WSJ Companies See Climate Change The post Links 6 June 2019 appeared first on MacroBusiness. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] |
Renew Economy
Wednesday, June 5, 2019 - 19:45
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Club Troppo
Wednesday, June 5, 2019 - 17:25
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An interesting graphic which the SMH thought was better presented in a form in which you can’t read whatever was near the right hand margin. NG (ed) |
MacroBusiness
Wednesday, June 5, 2019 - 17:00
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In response to the surge on Wall Street overnight, Asian share markets have the main echoed the returns with mainland Chinese stocks the only fly in the ointment. The local GDP print saw Aussie stocks taper off throughout the session, while the Australian dollar remains stubbornly below the 70 handle. The Shanghai Composite remains unable The post Macro Afternoon appeared first on MacroBusiness. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] |
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The Australian Independent Media Network
Wednesday, June 5, 2019 - 16:00
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By Dr George Venturini Rarity is the principal cause of the value of diamonds. Intrinsically, they are but carbon. The word diamond, the hardest known natural material, derives from the ancient Greek αδάμας – essentially, ‘unbreakable’. Diamonds are thought to have been first recognised and mined in India, where significant alluvial deposits of the stone… The post A cast of characters: The Monarchy (part 5) appeared first on The AIM Network. |
Renew Economy
Wednesday, June 5, 2019 - 15:58
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Renew Economy
Wednesday, June 5, 2019 - 15:51
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Renew Economy
Wednesday, June 5, 2019 - 15:12
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Renew Economy
Wednesday, June 5, 2019 - 15:07
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MacroBusiness
Wednesday, June 5, 2019 - 13:50
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By Leith van Onselen With the Morrison Government likely to hold 35 seats in the new 76 seat Senate, it will likely require the support of only four crossbenchers to pass its controversial income tax cut package. The new Senate is likely to comprise the following 35 coalition MPs; 26 Labor MPs; 9 Greens MPs; The post Centre Alliance to play kingmaker on Coalition tax cuts appeared first on MacroBusiness. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] |
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MacroBusiness
Wednesday, June 5, 2019 - 13:20
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By Leith van Onselen PwC tax partner Paul Abbey has suggested that state governments could progressively phase out stamp duty on residential property sales in favour of a tax regime based on land values. Abbey has proposed that buyers could opt to pay stamp duty immediately or pay an annual transfer duty replacement tax at The post PwC: Make stamp duty optional appeared first on MacroBusiness. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] |
The Australian Independent Media Network
Wednesday, June 5, 2019 - 13:07
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“What’s gone on this morning sends clear and dangerous signals to journalists and newsrooms across Australia. This will chill public interest reporting.” (News Corp Australia spokesperson, The West Australian, June 4, 2019). These are dark times for journalists and publishers. It did not seem coincidental that Annika Smethurst, a News Corp journalist and political affairs… |
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