Global Macro / Markets / Investing:
- Public Bravado, Private Doubts: Inside the Unraveling of Elon Musk’s Tesla Buyout – WSJ
- ‘I Was Cheated’: Tales From the Collapse of a Commodity Giant – Bloomberg
- Goldman Cashes In on Passive-Investing Boom With Big 4 P.M. Trade – WSJ
- Why isn’t inflation higher? – Marginal Revolution
- The Big Hedge-Fund Strategy That Isn’t Working – WSJ
- America’s Booming Economy Comes With a Cost for Global Growth – Bloomberg
- Central Banks Hear Warnings on Trade, Low Trust at Jackson Hole – Bloomberg
- Why Wall Street’s Bitcoin Dreams Keep Getting Dashed – Barron’s
- It Was Meant to Be the Better Bitcoin. It’s Down Nearly 90% – WSJ
- Global market structures and the high price of protectionism – BIS
- Trade and growth in the Iron Age – VOX
Americas:
- Trump rejected plans for a White House statement praising McCain – Washington Post
- The Full-Spectrum Corruption of Donald Trump – NY Times
- Republicans secretly study their coming hell – Axios
- As a Nation Mourns McCain, Trump Is Conspicuously Absent – NY Times
- The Income Gap To Affordable Housing – Accidental Fire
- Signs of a Strong Economy: Hedges Are Overgrown and Lawns Need Mowing – WSJ
- US student debt balloons past $1.5tn – FT
- The Student Debt Problem Is Worse Than We Imagined – NY Times
- St. Louis Fed’s Bullard warns of recession risk in raising rates – Stl Today
- Sarah Palin: ’John McCain will be remembered as an American hero’ – Mail Online
- Multiple fatalities reported, including a suspect, in mass shooting at Jacksonville, Fla., marketplace – LA Times
- U.S., Mexico Said Poised to Reach Nafta Deal as Soon as Monday – Bloomberg
- The Prosecutors Who Have Declared War on the President – Bloomberg
- Our fruit is rotting in the trees as laborers are kept out of the country – Washington Post
- America Is Withstanding the Test of Trump. The Republican Congress Is Not. – The Atlantic
Europe:
- Tinkering will not deliver a stronger role for the euro – FT
- ’More Brexit-influenced austerity will add to public debt, and hurt British exporters. It’s time the government understood that’ – The Independent
- UK banks loosen mortgage standards to maintain growth – FT
- Greece was never bailed out – it remains a debtor’s prison and the EU still holds the keys – The Guardian
- Greece’s “Bailout” Was a Disaster for Greece – Barron’s
- Russia wheels out its answer to Tesla – BBC
- On manoeuvres: battle to run the Bank of England – The Times
Asia:
- The coming yearlong U.S. trade war with China – Axios
- The Chinese model is failing Africa – FT
- Trump’s China Hawks Prepare to Swoop as Trade Talks Go Nowhere – Bloomberg
- Who Thinks China’s Growth Is Slowing? – PIIE
- China’s re-education camps for a million Muslims – Supchina
- One quote from Chinese giant Alibaba shows how Trump’s trade war could backfire – Business Insider
- China’s central bank gives itself more leeway on setting exchange rate – FT
Trans-Tasman:
- Rudd savages Abbott and Murdoch for wrecking Australian democracy – The SMH
- Morrison under pressure to quit after losing 100% of Newspolls in a row – Chaser
- Scott Morrison tries to switch focus to drought as WhatsApp messages reveal backroom bartering ahead of spill – ABC
- Refugee children on Nauru are Googling how to kill themselves, whistleblower warns – ABC
- Contaminated water is a problem in remote Australia, so an Aboriginal teenager decided to try and fix it – ABC
- Liberal Party elders lash Tony Abbott for acts of revenge on Turnbull’s Government – ABC
- More than one in 20 people with a HECS debt owes more than $50,000 – The Age
- Turnbull’s tech legacy: the MTM (Malcolm-technology mix) NBN – IT Wire
- Victorian Government stalls decision on new timber plantation for Latrobe Valley – ABC
- Bottled water and why Aussies still drink it – ABC
- Scott Morrison: The lump of coal PM – Independent Australia
- Former coal industry boss is Scott Morrison’s chief of staff – Renew Economy
- Deakin voters turn on Dutton plotter Sukkar in poll of crucial seats – The SMH
- The nation’s highest-paid university leaders – The SMH
- The return of the housing investor… – Interest.co.nz
- Phil Twyford unveils details of overhaul of ‘antiquated’ renting law – Interest.co.nz
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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The majority of bottled water comes out of the tap.
https://www.medibank.com.au/livebetter/be-magazine/food/the-history-of-bottled-water/
Allegedly.
Check the pH charts below…..
https://www.alkalinewaterplus.com/analyzing-comparing-brands-of-bottled-water/
….then research heavy metal mobilisation connected to pH levels.
Then……look at commercially grown crops that use fertilisers. Some ferts are encased in cadmium salts for commercial purposes..as well as during the manufacturing process some heavy metals are incorporated into the fert mix. This is taken up by the plants…you drink low pH water…..end result = you mobilise the heavy metals into your body. Vital organs get hammered.
Bloody Elle
Banks ditch ‘sales-focused’ volume-based commissions … Sydney Motning Herald
https://www.smh.com.au/business/banking-and-finance/banks-ditch-sales-focused-volume-based-commissions-20180827-p4zzzz.html
Banks have stopped rewarding mortgage brokers who sell the most home loans with bonus payments, admitting the payments risked encouraging excessive borrowing, as the industry tries to lift its game amid fierce scrutiny from regulators and the royal commission. … read more via hyperlink above …
… Lessons from Ireland 2007 … copy earlier MB post …
https://www.macrobusiness.com.au/2018/08/apras-airbrushing-mortgage-risks-exposed/#comment-3157717
… CONSIDERING THE 2007 IRISH EXPERIENCE …
The unweighted average median multiples of its metros in 2007 was 4.7, which crashed to 2.8 in subsequent years … putting all its Banks to the wall and requiring bailouts of in excess of 70 billion euro … about $NZ109 billion.
Currently the average Median Multiples for the Australian and New Zealand metros overall are about 5.9 and 5.8 respectively … refer … read more via hyperlink above …
Mortgage rejections skyrocket 1347% as credit crunches – MacroBusiness Australia
https://www.macrobusiness.com.au/2018/08/mortgage-rejections-skyrocket-1347-credit-crunches/
Via Martin North:
DFA research was featured in a number of the weekend papers, discussing the rising number of mortgage loan applications which are being rejected by lenders due to tighter lending standards, meaning that many households are unable to access the low refinance rates currently on offer. … read more via hyperlink above …
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More Clues To Further Home Price Falls … Martin North … Digital Finance Analytics
https://www.youtube.com/watch?v=rVjRMXoskNo
NZ housing: snakes and ladders … BlueNotes (ANZ Bank economists)
https://bluenotes.anz.com/posts/2018/08/nz-housing–snakes-and-ladders
New Zealand and Australia have much in common, including high property prices.
Despite signs both markets are starting to soften, many wonder if they will ever get on the property ladder.
“Housing affordability is not just a concern for people on lower incomes.”
New Zealand house prices have soared in value, while income growth has been more modest. Ten years ago the median house price in Auckland was six times the median household income. Now it is nine times. … read more via hyperlink above …
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How to get a (NZ)$650,000 KiwiBuild-style house down to an affordable (NZ)$300,000 – Stephen Sellwood of Infrastructure New Zealand – NZ Herald
https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12107783
.
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Reality check for Ministers (really some … just some … asleep enviros) at environment conference | Politik (behind paywall)
http://politik.co.nz/en/content/Environment/1400/Reality-check-for-Ministers-at-environment-conference-Environmental-Defence-Society-Gary-Taylor-Phil-Twyford-David-Parker-RMA.htm
… extract …
… Attendees probably left last night with more questions than when they arrived as Ministers, who in Opposition had seemed sympathetic to environmental issues were left qualifying and modifying their stance on major issues.
This was starkly evident in an exchange between Urban Development Minister, Phil Twyford, and the EDS CEO, Gary Taylor over urban sprawl.
Twyford had set out an impassioned description of the impact of high house prices in Auckland and advocated the linking together of transport and other infrastructure and new housing developments.
But he also advocated the scrapping or urban-rural limits.
“We believe that we have to manage growth on the fringes of the city,” he said.
“If we do not allow new land to come into the supply we will never ever fix the problem of absurdly expensive urban land.
“With good investment in infrastructure and transport, with more planning, not less to create the future urban environment that we want, setting aside areas of special value and open spaces, acquiring land for transport and other infrastructure, if we then allow the city to grow we will bring down urban land prices and it is absolutely critical that we do,” he said.
Twyford had proposed this when he was in Opposition but, even so, any suggestion that more rural land was going to be absorbed for housing was going to be controversial at an environmental conference.
And Taylor was quick to respond.
“Everything makes sense except I worry about why you need to do away with rural-urban boundaries altogether,” said Taylor.
He said that giving free reign to developers seemed inconsistent with Twyford’s overall objective of having a compact city.
Twyford replied that it was a question of values.
“This is for us, for Labour, for our coalition government, this is fundamentally a social justice issue.
“Our objective is not to build a Copenhagen of the South Pacific.
“We could build a beautiful city with a whole lot of the policies we have talked about.
“We could build a Vancouver of the South Pacific; beautiful but utterly unaffordable.
“I’m interested in us fixing this totally dysfunctional urban land economy.
“If we don’t deal with affordability we will have completely wasted the opportunity that has been given to our generation.”
Twyford said the only way to deal with the affordability issue was to deal with the land price issue and that meant dealing with the artificial scarcity of land caused by the planning system and the availability of finance for infrastructure.
However he didn’t dispute that the Auckland region was going to become more heavily built up.
“You know what,” he said. “In two or three generations this is going to become a tri-city conurbation between Hamilton, Tauranga and Auckland whether we like it or not.” … read more via hyperlink above …
Anti immigration sentiment in Canada reaches a 43 year high:
http://angusreid.org/canadian-immigration-trend-data/
https://calgaryherald.com/news/local-news/corbella-confidence-in-trudeaus-handling-of-immigration-is-gone
How about this:
THE proportion of Queensland high school kids failing to meet the most basic writing standard has almost doubled in the last 18 years.
What shoddy parents they must have. Which means that their parents were also shoddy, for if they were good and decent then the grandchildren would not be such illiterate monsters. From this we can infer that the great grandparents should also be held in the highest of suspicion…….
that about describes the class system
and the barrier which splits the common from the elite
Two points: 1). we need more eduucaishum.
Ino
Well u caught me
I had to change screen size and scroll down
but nothing,
then like the common punter, I realised I’d been had by the numbers
http://mobile.abc.net.au/news/2018-08-28/triguboff-stops-buying-land-as-apartment-downturn-bites/10168776?pfmredir=sm
Harry’s feeling fine coz.. population growth.
I think the time is coming closer to burn these fvckers down.
I wish he’d just go buy the smallest plot – 30 inches wide, 7 feet long and 6 feet deep and just go party with the little worms.
http://www.abc.net.au/news/2018-08-28/scientists-fighting-mould-on-food-with-cold-plasma-lightning/10160738
I think I know how to make that work
Gunna have to build a model, see what happens.
the ghostbusters anti-mould thing? how does it work/how would you deploy it?
Germinating?!! Cells?! That, right there is some “I’m doing Science, m*ther-f*cker! Out of my way”
https://www.zerohedge.com/news/2018-08-27/ydsa-urges-socialists-infiltrate-public-education – bahahaha
First comment on ZH: “Now that’s funny.., (as if they aren’t already…) It’s like urging the color yellow onto a banana.., hello?”
Peter Dutton intervened in third au pair visa case for AFL boss’s relatives | Australia news | The Guardian
https://www.theguardian.com/australia-news/2018/aug/28/peter-dutton-intervened-in-third-au-pair-visa-case-for-afl-bosss-relatives
Did they arrive by boat? No… well then – all good!
There’s a reason AFL used to be called Australian Rules…
Vale Laurie Carmichael (18 August)
https://www.amwu.org.au/vale_laurie