Global Macro / Markets / Investing:
- Cryptocurrency Trading Upended in Chile as Banks Close Accounts – Bloomberg
- Sharp Drops in Currencies Hint at Spreading Volatility – WSJ
- How economists (should) think about the housing market – Medium
- The wisdom of Warren Buffett – Rock Wealth
- Back to school: top economists on what their subject needs to learn next – Prospect
- The Blockchain Is Going To Dramatically Improve Our Sharing Economy. Here’s How – Hacker Noon
- Fiscal Rules: Make them Easy to Love and Hard to Cheat – IMF
- Bitcoin is a bubble and a perfect example of ‘faddish human behavior,’ says Robert Shiller – CNBC
Americas:
- Trump, a reluctant hawk, has battled his top aides on Russia and lost – Washington Post
- In Interview, Comey Calls Trump ‘Morally Unfit’ and a ‘Stain’ on All Around Him – NY Times
- The President Is Not Above The Law – NY Times
- A $76,000 Monthly Pension: Why States and Cities Are Short on Cash – NY Times
- The Democrats Are the Party of Fiscal Responsibility – NY Times
- In the era of Donald Trump, GOP donor Seth Klarman is funding Democrats – Boston Globe
- Trump order targets wide swath of public assistance programs – The Hill
- Rejoining TPP Won’t Be Easy – National Review
- U.S.’s Re-Entry in Pacific Trade Deal Would Come at a Price – WSJ
- America’s biggest companies are announcing buybacks. But whose cash is it, anyway? – Washington Post
- The Longest Expansions in U.S. History – Calculated Risk
Europe:
- The mystery of the eurozone slowdown – FT
- ECB asks Deutsche Bank to gauge investment banking exit costs: source – Reuters
- Germany is frustrating Emmanuel Macron’s grand ambitions – FT
- Mysterious Swiss Franc Slide Shows Reach of Russia Sanctions – Bloomberg
- How to Solve the Greek Debt Problem – PIIE
Asia:
- China’s Communists Rewrite the Rules for Foreign Businesses – NY Times
- US-China rivalry will shape the 21st century – FT
- China Is Nationalizing Its Tech Sector – Bloomberg
- $3 Million Bitcoin Heist Reported by India’s Coinsecure – Bloomberg
- Indian crypto exchange loses $3.5m in customers’ bitcoin – FT
Trans-Tasman:
- ACTU’s Sally McManus calls for cut in temporary work visa numbers – The Guardian
- Employees stuck in ‘outdated’, ‘zombie’ contracts of WorkChoices era – ABC
- Why Australia should stay out of the Syria conflict – ABC
- ‘Plastic is literally everywhere’: the epidemic attacking Australia’s oceans – The Guardian
- Seven reasons people no longer want to be teachers – ABC
- Bill Shorten to back Cross River Rail – Brisbane Times
- ‘I’m not plotting with Dutton’: Abbott – SBS
- Australia needs to start recycling and reusing its own waste, says industry struggling under China’s ban – ABC
- Angus Campbell will be Australia’s next Chief of Defence – ABC
- Renewable energy breeding’ can stop Australia blowing the carbon budget – The Conversation
- Sydney struggles with overcrowded beaches, schools, roads – Daily Mail
- Mortgage Stress and the Royal Commission – ABC
-
Twyford: ‘Our Government is open for business’ – Interest.co.nz
-
An open letter to the Tax Working Group – Interest.co.nz
Other:
- It’s time to give Firefox a fresh chance – The Verge
- As a secretive hedge fund guts its newspapers, journalists are fighting back – Washington Post
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Weekend reading: 21-22 April 2018
Global Macro / Markets / Investing:
Links 20 April 2018
Global Macro / Markets / Investing: Bringing
Links 19 April 2018
Global Macro / Markets / Investing:
Links 18 April 2018
Global Macro / Markets / Investing: U.S.
No mention of AMP’s slo mo car crash at the RC yesterday?
The Liberals’ immigration plan is working all too well
http://www.afr.com/opinion/columnists/the-liberals-immigration-plan-is-working-all-too-well-20180416-h0ytp6
[Big business loves big population growth because with a population growing by around 2 per cent a year, the fastest in the OECD, customer numbers grow by around 2 per cent a year without even trying. For our big banks, retailers, airlines, telcos and petrol companies high levels of immigration growth mean high levels of profit growth.
Governments love rapid population growth as well as they have come to treat new arrivals more as new taxpayers rather than as new citizens who deserve the level of public services and amenities Australians once took for granted. Put simply, successive governments, state and federal, have used rapid population growth as an opportunity to cut government spending per person while bragging, year after year, about record levels of total spending. It’s a cynical trick, but not nearly as cynical as blaming Australia’s crowded cities on those fleeing the wars we were fighting in Afghanistan and Iraq.
While big business and governments love all the revenue that comes from all those extra wallets entering the country, the Australian community has never been as keen. Not because they are all racist, although some clearly are, but because with long waits to get into hospitals, clogged roads, crowded trains and dwindling amounts of public space they simply couldn’t see the plan to accommodate even more.]
A little sense creeping into the media 😉
I hear a bloke on the radio this morning whose daughter ? (I think) got taken to hospital with a burst appendix. After the op she was stored in a hallway for three days!!! There were no toilets or showers anywhere at hand. She didn’t get showered for two days.
My grand daughter went in with a smashed thumb. She spent two days sitting in a waiting room before she received ANY attention at all.
Treasury thinks this is a wonderful thing. I wonder what they reckon is the ideal time for a little kid to sit waiting for even the slightest bit of assistance – a week? two weeks? Perhaps they just think she should just f..k off and allow them to get on with creating a bigger Australia with higher GDP!!!!
I’m getting really really really seriously sick of this stupid stupid stupid nasty country.
Oh don’t worry we are going to fix housing affordability by providing more windfall gains to home owners of smaller blocks and create slums out of backyards.
https://www.domain.com.au/advice/thousands-of-owners-on-narrow-blocks-set-to-benefit-under-nsw-government-changes-to-housing-code-20180410-h0ykdz/
Thus solving a our problems once and for all..
Flawse You are right on it. I have a friend whose son spent 2 days in emergency waiting with a broken arm. What I think is that the Canberra mentality is that GDP is all that counts not amenity of population, or property prices, or equity. Now it has reached such epic proportions that if it is brought back to earth there is the risk of a financial calamity.
@Flawse….which city/region for both examples?
The problem will be solved as per the USA. If you cannot afford the $30k health insurance premiums, and have no assets to sell, you die.
PeterI don’t know about the bloke with his daughter – if its important I’ll see if I can check somehow. My grand daughter was Randwick Childrens
Oh Freddy reminds me – the appendix lady had private health insurance – still could not get a room with a shower and toilet – and that doesn’t mean private – one per room.
Wifey had a baby last mont at Lismore base hospital, new facility, huge birthing pools/spa baths in every room. Top notch service and when she bled out 6 doctors and 10 staff. I don’t know what the other places are like and I heard they were real bad but this place was like a fancy hotel, minus the awful food.
flawse, that is because healthcare is still too cheap. Keep on increasing the price until people choose to die instead of clogging up hospitals.
@Flawse…just curious that’s all. No need to explore further. Thanks.
… NEW ZEALAND GOVERNMENT EXPLAINS FOCUS AND COMMITMENT TO SOUND INFRASTRUCTURE FINANCING …
Mondays fresh focus and commitment to sound infrastructure financing …
The Minister of Transport Phil Twyford says there is a “great deal of interest” from private capital providers when it comes to investing in New Zealand’s transport infrastructure – he is welcoming their interest | interest.co.nz
https://www.interest.co.nz/business/93209/minister-transport-phil-twyford-says-there-%E2%80%9Cgreat-deal-interest%E2%80%9D-private-capital
… following months of confusion and Friday’s interview of Housing & Transport Minister Phil Twyford by Newstalk ZB Christchurch Chris Lynch …
https://www.facebook.com/chrislynchzb/videos/1768362633223469/
.
.
Access recent postings …
https://www.macrobusiness.com.au/2018/04/links-16-april-2018/#comment-3087642
https://www.macrobusiness.com.au/2018/04/mortgage-standards-panic-seeps-into-msm/#comment-3087048
The highest sales rate was for properties where the auction was on site, while less than a quarter were sold at the big North Shore auctions | interest.co.nz
https://www.interest.co.nz/property/93216/highest-sales-rate-was-properties-where-auction-was-site-while-less-quarter-were-sold
Barfoot & Thompson achieved sales on almost a third of the properties the agency scheduled for sale by auction last week, with 167 advertised to go under the hammer and sales achieved on 53 of them.
That gave an overall sales clearance rate of 32%, which probably wasn’t bad considering what the weather was like and the disruptions it caused. … read more via hyperlink above …
NEW ZEALAND: Westpac report says the good times in the residential property market will “end very soon” | interest.co.nz
https://www.interest.co.nz/property/93237/westpac-report-says-good-times-residential-property-market-will-end-very-soon
The housing market is facing a looming slowdown, according to Westpac’s chief economist Dominick Stephens.
In a Home Truths report on the housing market Stephens said although the market was positive for now, it will soon slow.
“In our view the good times for the market are going to end very soon,” he said … read more via hyperlink above
https://www.theguardian.com/society/2018/apr/16/value-of-london-flats-slashed-by-grenfell-style-cladding
There’s some big falls, coming soon to an city near you.
How about the fire at Holsworthy army base the same day as the air strikes on Syria, 500 firefighters
As i said about the comm games security arrangements, either they are very cautious or terrorism is a major threat here.
Buildings with flammable cladding would have to be a sitter.???
https://mickresearch.wordpress.com/2012/12/21/effects-of-timber-harvesting-on-water-yield-from-mountain-ash-forests/
Some long term consequences of fire. Melbourne was riding the curve from Black Saturday through to the millenium drought. A fire that knocks out a large part of the catchment is going to have consequences for water security for decades.
Extra Police at events in Qld is all about an overtime kickback to the Qld Police Union and its members.
Overtime, Overtime and a half.
shoulda burnt ’em already and claimed insurance ay? …sarc.
Nice little numberwang from the Treasury in the assumption that a skilled migrant automatically gets a job and contributes the requisite tax take to the Canberra pile. Wonder if the reality of significant migrant unemployment among even the skilled migrant intake will filter through to the Budget next month.
I once saw some numbers which showed a migrant takes 17 years here to break even on the cost of immigration and support,
17 years in the future is a major throw of the dice???
look back 17 years for a comparison,
Game of Mates in the Northern Territory.
NT Labor Government lifts fracking moratorium: http://www.ntnews.com.au/news/northern-territory/fracking-given-green-light-by-nt-government/news-story/e6c02f2e0e0eeb837be33154b41a299c
This after two consecutive falls in GST allocations from the Feds since NT Labor came to power.
http://www.ntnews.com.au/news/northern-territory/northern-territory-loses-cash-in-gst-distribution/news-story/568b8e9f8d277695a1f0215ebee987fb
http://www.abc.net.au/news/2017-03-29/whos-right-and-whos-wrong-on-the-nt-govts-2b-gst-shortfall/8397344
Some very large resource companies and identities holding key tracts of what is currently pastoral land stand to profit.
Sure, the NT Govt might be able to levy their own taxes on this new sector, but resource companies and tax minimization – we know the record…
Spike in bank bill swap rate threatens bank profits
http://www.afr.com/markets/spike-in-bank-bill-swap-rate-threatens-bank-profits-20180417-h0yvjc
#comeyforpresident
I’d vote for him. At least twice.