June 26 links: Carbon angst

Global Macro:

  • Big users bet on oil falls. FT

United States:


  • Merkel rejects joint union. Bloomberg
  • Plan to centralise fiscal control. FT



  • Rinehart ready to walk. SMH Let’s hope so
  • Carbon tax puts break on Roy Hill. The Oz
  • Or is it the family feud? SMH
  • New world order too crowded. The Oz 
  • Productivity commission lashes bailouts. AFR
  • Two new taxes, so what. Tim Colebatch
David Llewellyn-Smith
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  1. Carbon tax puts break on Roy Hill. The Oz

    The Oz seems to have pulled the story. Alas, I wanted to see what the reality looked like inside the wingnut bubble.

    I guess they pulled it because Hancock Prospecting themselves made no mention of the carbon tax in the Four Corners program!! Facts are too damn inconvenient.

  2. Another BIS gem, but how did they get this by the MMT deity? So high debt is bad for growth….

    “While the attention of policymakers following the recent crisis has been on reducing systemic risk stemming from a highly leveraged financial system, the challenges extend beyond that. Our examination of debt and economic activity in industrial countries leads us to conclude that there is a clear linkage: high debt is bad for growth. When public debt is in a range of
    85% of GDP, further increases in debt may begin to have a significant impact on growth: specifically, a further 10 percentage point increase reduces trend growth by more than one tenth of 1 percentage point. For corporate debt, the threshold is slightly lower, closer to 90%, and the impact is roughly half as big. Meanwhile for household debt, our best guess is that there is a threshold at something like 85% of GDP, but the estimate of the impact is
    extremely imprecise.”


  3. Mining BoganMEMBER

    Is it just my uncommonly poor computer literacy or are the threads on here being stretched all out of shape?

    You know, like the truth sometimes is…