Weekend reading 26-27 November 2016

Global Macro / Markets / Investing:







Unconventional Economist


    • proofreadersMEMBER

      We think that we may have a Chinese “warehouse” close to us – a 1,900 sqm property with substantial, stylish and relatively new master-built home, with full size tennis court and pool bought by Chinese for around $4.25m in late 2015.

      The new owners saw fit to replace every window in the house and gut part of the interior and exterior in a “reno” over a period of 4 months and had one outing on the tennis court.

      Our other neighbours and we think that there is no one living in the home. The property would probably sell for $5m, 12 months on in the now even more crazy property market.

      • What’s the address of this “warehouse” ? I’ll do a title search and some investigating!

    • A couple of things on this clickbait headline – firstly it comes from Juawei – utterly dependent upon spruiking Australian property to Chinese buyers so take with a massive pinch of salt and secondly if the majority have a budget of up to $1 million….they won’t find anything which to me shows it is a manufactured load of propaganda property spruik

      • Note the original headline when first loaded says Chinese not foreigners and in the article where it said “asian” had Chinese. What other “Asian” countries are experiencing turmoil and currency issues that have a large local Chinese community? Malaysia…..

  1. So what the fuck is going on with that legendary kingdom shit on the Gold Coast? I would be grateful if some of our more paranoid commenters can have a think about it.


    Looks pretty fuckin suss to me. Remember they tried to put in a theme park in gosford?

    just found it – promises residency to investors! so that’s ok. the (many, young) parents of school age children and retirees in warnervale must be rejoicing.


    fuck me this country.

    Edit: considering the ice use in goeyford this might be a win-win situtation for a not-insignificant proportion of the population of the central coast.

    in summary – pretty fuckin suss!!!!

    Edit 2: WW has been regaling us with ice tales for a while in the GC. Coincidence? Why central coast and gold coast?

    • The entertainment park will boast a number of different precincts, including “Aboriginal Cultural Village” and “Mysterious Orient”.

      Man I hope they get dutto (if his carers let him) to nominate a couple of precincts:

      Fraser’s lebo madrassa?
      Underwater islander?
      Queensland copper investigator?

      • ErmingtonPlumbingMEMBER

        including “Aboriginal Cultural Village”

        I thought “Cultural Appropriation” was a massive No No these days, equivalent to Poofta bashing or Racially motivated Lynchings.
        I’m confused, cant we just be issued a a little red book of Politically correct behaviour, that we can always refer to when “feeling” unsure,… about how we should feel,..about something.

      • These are quite common in taiwan. Of course, it means aboriginals of taiwan (and in the above case, presumably of china i.e. non-Han peoples), not australia. In taiwan (I think) they are run by (or possibly just staffed by) aboriginal tribes themselves (where “aboriginal” is the traditional English translation of a term we would probably translate today as “indigenous”).

        As an aside, it’s interesting to note that the (minority) aboriginal people of taiwan are basically the same ethnic group as the majority population of the Philippines and the native non-Indian non-Chinese population of Malaysia. If you look on the map you can see how before the european colonists came along the ethnic or Han chinese were slowly spilling into and on track to eventually overtake these native populations. I guess they would even have taken over Australia eventually, or, to put it another way, I guess its geographically inevitable that they still will. Kind of like how the US will be a majority Spanish-speaking country in time, if geography has anyting to do with it.

      • Thanks First I see. It sounded shocking to my conditioned ear. The displaced aboriginals of SEA must be grateful for a job!

      • Hi First

        Thank you for your input. I have a very good friend who is ‘indigenous’ Taiwanese. He dislikes (speaking conservatively) any Chinese – Nationailst or Mainalnd. His eyes blaze talking about it.
        Again for everyone’s info – China itself consists of four very different peoples. Sometimes activity by the government needs to be seen in the light of keeping these four very different races as one nation.

      • ErmingtonPlumbingMEMBER

        And here I was thinking this park was going to be employing Chinese Didgeridoo players, telling tales of the “dreamtime” and the rainbow serpent.

    • Goeyford? Bwaaahaaahaahaa

      Crackbourne, Frankanistan, Methone, Smack Kilda, Fixroy, Idleburg, Acid Vale…

      • Just for some western flavour.

        Scumshine, Altona Ghettos, Knifepoint, Point Crook, Screwport, Maraville, Coppers Crossing.

    • That park is just hype and bullshit.
      the land selected is in a low region of the Nerang river and would have been developed years ago cept nearly every year it goes under a couple metes of water. Say in January.
      This si more hype to keep the pinzi on the gold coast from an early collapse, but as I have been advising all, the joint is already going under. 20 years ago it was an Icon, and everyone feasted on that, but its time is up.
      the prime source of incoe to the GC is tourism,and a figure hot off the press on the decline in tourism came from the charter boat operator who took the ON team out to the reef.
      His advice was that unitl recently his passenger numbers were about 200 a day, now its 500/ month so he is going under.
      this crown casino jailing of whale promoters will ruin the business models of the proposed futuer casinos in BNE and the GC and the Comm Games, has already run out of money for the construction of the facilities and none are digging deep to re fund that.
      so troubled times ahead for the Gold coast. When RE collapses here, many will lose all they have plus more.

    • It’s a scam. Look up the various EB-5 visa in the US. The investors will lose everything and the themepark will never operate.

  2. When I die and they lay me to rest
    Gonna go to the place that’s the best
    When I lay me down to die
    Goin’ up to the spirit in the sky
    Goin’ up to the spirit in the sky
    That’s where I’m gonna go when I die
    When I die and they lay me to rest
    Gonna go to the place that’s the best
    Prepare yourself you know it’s a must
    Gotta have a friend in Jesus
    So you know that when you die
    He’s gonna recommend you
    To the spirit in the sky
    Gonna recommend you
    To the spirit in the sky
    That’s where you’re gonna go when you die
    When you die and they lay you to rest
    You’re gonna go to the place that’s the best

  3. Well it’s a dog eat dog
    Eat cat too
    The French eat frog
    And I eat you
    Businessman, when you make a deal
    Do you know who you can trust
    Do you sign your life away
    Do you write your name in dust

    Hey, hey, hey
    Every dog has his day
    It’s a dog eat dog
    Dog eat dog

    Dog eat dog
    Read the news
    Someone win
    Someone lose
    Up’s above and down’s below
    And limbo’s in between
    Up you win, down you lose
    It’s anybody’s game

    Hey, hey, hey
    Every dog has his day
    It’s a dog eat dog
    Dog eat dog

    And it’s a eye for eye
    Tooth for tooth
    It’s a lie
    That’s the truth
    See a blind man on the street
    Looking for something free
    Hear the kind man ask his friends
    Hey, what’s in it for me

    Hey, hey, hey
    Every dog has his day
    It’s a dog eat dog
    Dog eat dog

    Dog eat dog
    Dog eat dog
    Dog eat dog
    Dog eat dog
    Dog eat dog
    Dog eat dog
    Dog eat dog
    Dog eat dog
    Dog eat dog
    Dog eat dog
    Dog eat dog
    Dog eat dog
    Dog eat dog


    • Cain has called a meeting with a stone in his hand
      To persuade young Abel as firmly as he can
      To stay down on the farm! Stop wondering the land!
      Cut the hippy shit, man, stick to the plan!
      Cos’ everybody is gonna want their bowl of peas,
      They don’t fall from heaven. They don’t grow on trees,
      We must divide up the labor , the hands and the feet –
      Everybody pull together, so everyone can eat.
      ​But to eat you must co-operate.
      To operate you litigate,
      ​T​hen delegate, then subjugate by services and needs.
      You need a team to feed the team
      ​T​hat clears the mountains and the stream
      For the team that moves the iron ore –
      ​T​he iron ore that’s heading for
      ​T​he foundry that makes the steel (that makes the wheel that ships the steel)
      ​T​hat makes the ax that hacks the trees
      ​A​nd makes the rake the farmer needs
      ​T​o break the clod n’ whack the weeds,
      ​N​’ hoe the rows where go the seeds​A​and keep the seeds in granaries and
      ​Accountancy’s to count the seeds as part of a bureaucracy
      ​F​or all eventualities that guarantees legality
      ​F​or all the heads of industry who arbitrate, negotiate,
      ​T​ill every party clearly states
      ​T​hat mutually totally, and in perpetuity
      T​hey all agree there is a need both social and financially,
      ​L​ocal and collectively, in total universally.
      The dinner bell is ringing
      A​nd Cain can pick the peas.

      Andy Prieboy

    • God were you feeling lonely?
      God were you feeling sad?
      When you let these fuckers control us
      Were you feeling mad?

      God I’ll see you in Harlem
      Picking up some fish
      Just tell me sweetly
      What’s my fucken wish

      When you’re feeling happy
      When you’re feeling drunk
      When you’re feeling happy
      When the world is sunk

      I’ll be in Harlem
      Picking up some wine
      And I’ll be there peacefully
      Just be on time

      I’m being awesome
      and in good condition too
      And i’ll be there likewise
      you be there too

      Cos, When you wake up at night,
      and the world is alight,
      and the people you fight,
      are not what they seem to be.
      Hey, the world is ablaze,
      and the time comes down on you and me.


  4. This should be fun……



    Greater Sydney Commission – leading metropolitan planning for Greater Sydney

    Our role is to ensure Greater Sydney gets better as it gets bigger.

    We invite you to attend one of our community drop-in sessions to find out more about planning for Sydney’s long-term future, and how to provide feedback.

    I’ll be going to the session on Monday to ask why the report fails to include the cost of the new schools, hospitals, aged care, sports facilities and infrastructure required to support an additional $2m Sydney residents.

    South District
    Monday 28 November 6pm – 9pm
    Club Central
    2 Crofts Avenue, Hurstville

    Anyone else interested in joining me to disrupt and agitate!!!!

    • The extra 2 million that are targeted (rashist) don’t like sport they just like shopping shopping shopping. But they love free hospital and schools.

    • ErmingtonPlumbingMEMBER

      I notice the Content In Question was ‘hard core Transgender” erotica.
      This leads me to wonder,…how did you come to find such a piece at 7am on a Saturday morning?,…Hmmm.
      Day of work, nobody home, pants around ankles, “Well hung Ladyboys” punched into the search engine,…Hmmm


      Just having a Wank or are you researching your CIA/Cultural Marxist mind control theories?


    • The source of this claim? A single tweet on an account that has since gone private. No other confirmation anywhere.

      Just more fake news BS.

      • That’s the kind you lefties like best

        “Fidel Castro, whose Cuban revolution turned his Caribbean island into a potent symbol of the world’s greatest ideological and economic divides of the 20th century, has died, Cuban state media announced early Saturday. He was 90.”

        Bwaahaahaaahaahaa no it turned Cuba into a shithole perpetual 1950s museum.

      • ErmingtonPlumbingMEMBER

        Its a wonder John Howard didn’t go there to retire,….he loves the “relaxed” 1950s.
        A time when white men Weren’t embarrassed to be “The Man” , when women knew their roll (to recieve cock) and minorities had the common sence to show deference to their betters.

        But Mig, your conflating a belief in Social Democracy and the Wealfare State, with full blown Authoritarian Communism is just plain dumb and beneath your obviously, sharp mind.

        The “Capitalist Democracies” need a little bit of economic Marxism to balance things out and keep our Western culture “Politically tenable”.

        Unfortunately, in my opion, the “leaders of the left” have become sidetracked into the cult of “Narcissistic Victimhood”, where obsession with Political correctness and identity politics, leaves little time or energy to challenge the emerging Neoliberal plutocratic world order that is turning the whole world into a “Shit hole”.

        Tin foil hat time,….I think its by plutocratic design that the “leaders of the left” have been guided/allowed to persue a “Neo Cultural Marxism”, whilst at the same time being co opted into the Neoliberal project.

        This means working people like you and me Mig and all the others here who know better need to retake the party of the working people.
        Alternatively we could just acquiesce to the gigantic plutocratic dick, [email protected] both us and democracy in the arse.


      • ErmingtonPlumbingMEMBER

        Authoritarian Extreamist regimes, of both the left and right handed varieties, have always given Gay people a hard time, I think this predijuice probably comes from our bronze age, monotheistic, moralizing Cultural roots.
        Either way, when given the sanction of a monopoly on power, those moralistic predijuices are dangerous to all.

        Im no believer in Communism Mig, or any of the other kinds of Authoritarianism,… from socialsim through to the private Tyrnies of global coporate plutocracy and its markets rule all mentality.

        I do however believe in participatory Democracy and think if unobstructed by nefarious, self interesred and well funded lobby groups, would naturally produce a Social democratic wealfare state, kind of out come.

        Angrily Calling out and ridiculing all thats wrong with the different political and economic systems, is a step in the right direction,… but whats the next step one should take Mig?

        May i suggest, maybe, manning up and sticking your neck out, by actually offering some of your own perceived “solutions”, to our obviously disfunctional and broken political process.

        What are your feelings on a more direct and participatory Democracy?


      • That’s the kind you Lefties like best

        And there lies your biggest mistake Mig, that anyone here can simply be dismissed as a member of some tribe, that primarily exists in your own mind.

  5. The absolute co**sucking f****ers!!!!!!!!!!


    Scott Morrison eases limits on foreign buyers as apartment glut looms

    The federal government has announced it will make it easier for foreigners to buy new apartments amid concerns of a looming glut that will drive down prices.

    Treasurer Scott Morrison said the government will make changes to the foreign investment framework to allow foreign buyers to buy an off-the-plan dwelling that another foreign buyer has failed to settle as a new dwelling.

    Previously, on-sale of a purchased off the plan apartment was regarded as a second hand sale, which is not open to foreign buyers. Foreign buyers can only buy new dwellings.

    The move effectively opens up the pool of buyers who can soak a potential flood of apartments hitting the residential markets due to failed settlements.

    “This change addresses industry concerns, and means property developers won’t be left in the lurch when a foreign buyer pulls out of an off-the-plan purchase,” Mr Morrison said in an announcement.

    “It is common sense that an apartment or house that has just been built, or is still under construction and for which the title has never changed hands, is not considered an established dwelling.”

    Default rate on rise

    The policy change comes after Mirvac said it experienced a rise in the default rate for the settlement of off-the-plan residential sales, above its historic average of 1 per cent.

    The changes will apply immediately and regulation change will be made soon to enable developers to acquire “New Dwelling Exemption Certificates” for foreign buyers of these recycled off-the-plan homes.

    On top of defaults, the Australian apartment markets – which boomed in the last four years – are facing other fresh risks.

    On Friday, HSBC said an oversupply of apartments in Melbourne and Brisbane could send unit prices down by as much as 6 per cent in 2017.

    The apartment building boom, an ongoing concern for the Reserve Bank of Australia, especially in inner city Melbourne is likely to “start showing through” in price drops of between 2 per cent and 6 per cent in that city next year, HSBC chief economist Paul Bloxham said in a note.

    It’s a similar story in Brisbane where apartment prices are forecast to fall by as much as 4 per cent.

    “A national apartment building boom, which has been part of the rebalancing act, is likely to deliver some oversupply in the Melbourne and Brisbane apartment markets, which is expected to see apartment price falls in these markets,” Mr Bloxham said.

    “A modest shakeout in the inner-city apartment markets in Brisbane and Melbourne, as we are forecasting, is not expected to have a broad-based impact on the overall housing market or economy.”

    While apartment prices could fall, there were little expectations of price falls in second hand dwellings and houses as stock levels remain tight.

    Auctions heating up

    Auctions this weekend, one of the biggest sales days of the year, are expected to be well bid. Agents said there had been an uptick in listing volumes for the weekend, contrasting with the past few months when in Sydney listings have been nearly 20 per cent lower than the previous year and about down 4 percent in Melbourne.

    “Auction activity is set to ramp up this week with 3127 capital city auctions currently being tracked,” Corelogic said.

    “If all of these auctions go ahead it will be the largest auction week of the year…although auction volumes are set to rise across this week, in Sydney and Melbourne volumes are set to be lower than a year ago.”

    “It is the last major weekend and people are squeezing in sales,” Raine & Horne director of auctions James Pratt said.

    “This will be the spring that never came.”

    Raine & Horne already has higher listings for this weekend as has LJ Hooker.

    There has even been an unusual rise in scheduled auctions in January, LJ Hooker NSW state manager Ben Mitchell said.

    “There’s a lot of pent up demand [from buyers]…who are really sellers,” he said.

    “Traditionally, homes hit the market in spring… but that didn’t happen. This delays the inevitable.”

    But those volumes may shrink as desperate buyers start to buy before auctions. Both Mr Mitchell and Mr Pratt are starting to see offers being made on Friday.

    Seeking stimulus

    In Sydney’s west, stock levels were low too, but it was less of a concern for agents because western Sydney was less focused on auctions.

    “We need a stimulus for people to move homes,” western Sydney agent Starr Partners’ chief executive Doug Driscoll said.

    “Let’s not get ahead of ourselves. Unless there are thousands of auctions, it is quite hyperbolic to call this weekend a Super Saturday.”

    In Melbourne, agent Greg Hocking is getting ready for a busy weekend. Melbourne is due to have 1508 auctions ahead of Sydney’s 1143, Corelogic said.

    “It’s a typical end-of-season get-out stakes for sellers. From a buyer’s perspective, they’re seeing new opportunities everywhere and if they want to strike this is the time to do it. It’s hopefully a perfect storm.”

    Read more: http://www.afr.com/real-estate/scott-morrison-eases-limits-on-foreign-buyers-as-apartment-glut-looms-20161124-gsxb9g#ixzz4R3SaeFrH

    • No suprises there.

      Mr Morrison was always going to change the laws to suit his property industry mates making a buck from flogging off new property to off shore buyers.

      Mr Morrison would sell out the country in a heart beat if it meant an advantage for a LNP donor industry.

      Keep in mind that APRA has already engineered a crunch in the new construction pipeline by telling its franchisess – the local banks to ease off.

      There will be no ‘glut’ in apartments as Peter Dutton has lost control of immigration (though taking your hands off the wheel is closer to the mark) and he will just flood any markets showing signs of softening prices with thousands of new immigrants.

      The only thing that might become a fly in the ointment is if Pauline, Bernardi and others decide to campaign against the population ponzi but even they are likely to approve a special apartment buyer ‘golden ticket’ immigration program.

      When push comes to shove, Pauline is still a LP stooge and will do nothing about the out of control rates of immigration and the sell off of Australian assets offshore or the mountains of taxpayer guaranteed foreign debt accumulated in our local banking system. She is just playing “culture war” memes for the evening news.

      Afterall we could keep the tradies working for decades building empty apartments along the Hume Highway between Melbourne and Sydney.

      Keep the new apartments off the markets, owned by foreigners and everyone is a winner.

      Except those locals hoping for some affordable housing options.

      • ErmingtonPlumbingMEMBER

        The blame for Pauline, Trump, Brexit and a wave of similar Right wing phenomenon emerging throughout europe and the rest of the world lay with Impotent, sold out “Left wing “parties.
        Our Labor party like the Democrats, used to represent ‘Working People”,.. now they don’t and in a 2 party democratic system thats a problem,…both sides are fighting for the side of money and “Meritocracy for ever” and it’s my opinion, that, thats a pathway to our future serfdom.

        A working class take over of the Labor Party is the only possibility of any kind of real change under our current system.



      • @ep – the ‘left’ has undermined, stripped, packaged up, sold out, and amusingly, offshored your precious working class. when you raised any concern they imported the worst savages they could find to keep you wages down, and to terrify you with the threat of violence unless you kept paying danegeld.

        yet you turn to them. are you a glutten for punishment? do you belive that the more pain you feel, the more holy you are? in whose eyes exaclty?

        ‘… only possibility…’ – have you missed the rise of the right completely? where do you think it is coming from?

        i’ll tell you what. to have some fun with those on the right, ask them a simple question. Why did brexit happen, or trump win? they will give you lots of answers, none particularly insightful. then ask, why now? why not 5 years ago, or 5 years hence? i mean, whatever answers they gave you were valid 5 years ago right? they have no idea.

        i can assure you it is not the 1488’s or people posting ((some-random)) to twitter. as an example, the kkk has sub 5k members in the US. there were 15k articles linking the kkk to trump. thats a 1:3 ratio of articles written to members. where is this coming from?

        becuase if you can’t work out where it is coming from, and in 2 years it can bring your entire society to its knees, you have a problem.

      • The left started this way back in 98 with the WTO protests, then turned into sniffling snots with Obama. Then the right picked it up and followed through.

        The mood against corporate globalisation has been coming for a while, HnH nails it in the podcast

      • @ep – the ‘left’ has undermined, stripped, packaged up, sold out, and amusingly, offshored your precious working class. when you raised any concern they imported the worst savages they could find to keep you wages down, and to terrify you with the threat of violence unless you kept paying danegeld.

        That’s some mighty impressive projection, right there.

        The world has been run by increasingly extreme right-wing neoliberals for the last thirty-odd years. That’s why we have increasing income and wealth gaps, increasing levels of undemocratic influence from lobbyists and the like, more authoritarian laws, more privacy-invading laws, military buildups, extensive deregulation, mass selloffs of public property, undermining of public services, increasingly dynastic political representation and increasingly blatant attempts to subvert legal processes by politicians and sovereignty by multinational private corporations.

        I disagree with Ermo because a) I think the Labor Party is lost beyond recovery and b) I think the two-party system of “electoral dictatorship” is fundamentally broken – we need more parties, more independents and more democracy.

        But to blame any significant aspect of the world’s troubles today on “the left” is absurd beyond joke. The worst thing you can accuse them of is not fighting hard enough against the people who have destroyed us.

      • @dj – do you know what, i think you have a very salient point. there is no way for me to show you the evolution of the memetic complex over time.

        the basic idea is lie so: look at the range of values, i.e. political opinions about stuff, that people had at any given point. this is an overton window. the movement of this overton window ‘leftwards’ over time, is why i think of the issues originating from the left. we know people in 1950 we more conservative than people now, i.e. the range of acceptable political viewpoints has moved left. hence society as a whole has moved left-words.

        i think the system is failing becuase of structural inconsistencies. fine. but for the moment, the left is running the show culturally, socially and politically, and i sure as hell can blame them. as voltaire said, ‘To learn who rules over you, simply find out who you are not allowed to criticise’

      • Truly disgusting. Next, they’ll be announcing a first time foreign buyers grant, and we’ll be asked to foot the bill. After all, isn’t it only fair that we spend as much as is needed to stop prices falling that predicted and dreaded 6%?

      • the basic idea is lie so: look at the range of values, i.e. political opinions about stuff, that people had at any given point. this is an overton window. the movement of this overton window ‘leftwards’ over time, is why i think of the issues originating from the left. we know people in 1950 we more conservative than people now, i.e. the range of acceptable political viewpoints has moved left. hence society as a whole has moved left-words.

        The political and, more importantly, economic overton window has been moving rightwards since the ’70s when the neoliberals took over. Hence all the things I mentioned above.

        You could make something of an argument that social and cultural values have shifted leftwards over the same timeframe (though this is really just the continuing widespread adoption of Enlightenment values, and has been slowing recently as the right gains more power – increasingly higher profile opposition to SSM being the obvious example), but if you think we’re heading towards WW3 because of the no-fault divorce and transgender bathrooms, rather than economic pressures and resource scarcity, then you’re off the reservation.

        i think the system is failing becuase of structural inconsistencies. fine. but for the moment, the left is running the show culturally, socially and politically, and i sure as hell can blame them. as voltaire said, ‘To learn who rules over you, simply find out who you are not allowed to criticise’

        Well three of the five biggest selling newspapers in the country are a smorgasboard of lefty-bashing, to say nothing of the regular airtime given to right-wing politicians and pundits on the national broadcaster blaming everything from house prices to their dogs farting on unions and political correctness, so clearly there’s no barrier to criticising “the left”.

        The only serious representation of “the left” in Australian politics are the Greens, and a handful of Labor politicians. They are a small minority.

        You appear to be suffering from an acute case of Conservative Persecution Syndrome. Shaking your fist at the filthy hippies outside your house with rainbow flags while you apologetically help the repo men carry off all your furniture because you missed a payment.

      • @dr – yes. there is a reason nrx is called the dark enlightenment.

        ‘The only serious representation of “the left” in Australian politics are the Greens, and a handful of Labor politicians. They are a small minority.’ – really? communism, this is not communism, comrades, i say to you now, communism has not been tried.

        Pull the other one; with your ‘no true lefty would… nonsense’. its boring now. every now and then, you should try to come up with a new trick. keeps the punters interested.

        comparing me to a crouchy old man – how cute. even after an epic bitchslapping, still the same lefties hey. old man, bankrupt, … , sexist, deplorable, have i forgotten any more shaming insults that you call people on the right.

        go for it. please. clearly calling people who disagree with you names is working well. what happened to all the we need to think about where they are coming from after hillary’s loss. forgotten already? we both know that was virtue signalling too…

      • there is a reason nrx is called the dark enlightenment.

        A religious cult needs a snazzy name if it wants to attract members.


        Yes, really.

        See, if “the left” had been running things, these are the kinds of things we’d expect to see:
        * Strong workers rights and substantial union membership
        * High average wages and a relatively small wage gap
        * Increasingly progressive high tax rates
        * Policies actively seeking to decrease wealth inequality, increase social mobility and reduce inherited privilege
        * Low unemployment with explicit full employment policies
        * Increasingly democratic Governments, burgeoning avenues of direct democracy
        * Strong laws against industry lobbying and political donations
        * Strong laws against monopolies and oligopolies
        * Large scale public works (see above full employment policies) and publicly owned infrastructure
        * Extensive and well-funded public services, particularly in health and education
        * Easily accessible and generous welfare
        * Strong direction and strategies at a national level to incentivise particular sectors of productive industry
        * Reservations of raw resources for domestic use and consumption
        * Nobody blinking an eye about removing discriminatory laws, or enacting laws to protect people from discrimination
        * Nobody giving a hoot what two (or more) adults are up to in their bedroom

        You know, actual left-wing objectives, policies and stuff. Instead over the last few decades we see, well, basically the complete opposite of all these things.

        But, hey, have another swing. Tell us about how lefties are responsible for all the world’s economica and political problems because feminists and poofters.

        comparing me to a crouchy old man – how cute.

        LOL. The faint whistling noise was the point sailing over your head.

        even after an epic bitchslapping, still the same lefties hey. old man, bankrupt, … , sexist, deplorable, have i forgotten any more shaming insults that you call people on the right.

        go for it. please. clearly calling people who disagree with you names is working well. what happened to all the we need to think about where they are coming from after hillary’s loss. forgotten already? we both know that was virtue signalling too…

        Like I said, acute Conservative Persection Syndrome. “What do you mean somebody disagrees with me ? Abuse ! OPPRESSION !”

      • @dr – i’m sorry, did i ask for dr’s version of what the world would look like if he was in charge? i mean, it a handy list of left wing intellectual masturbation, never mind you could never do it and all failures in execution would be the result of wreckers, rightists, etc etc.

        your little list suggests that, contrary to previous evidence you are not in fact a wanker. wanking involves moving you hand back and forth. you’re instead a gripper, cannot move on, so you just grip on to your … intellectual fantasies even harder.

        you should reduce the pressure a little, otherwise it will blow, and nobody wants to see that… https://www.youtube.com/watch?v=grD_IINiH9c

      • Nice work Dr Smithy. I line with one of the best lessons I learnt from a lovely boss when I first started working, ‘we’ll just play a straight bat.’

      • i’m sorry, did i ask for dr’s version of what the world would look like if he was in charge? i mean, it a handy list of left wing intellectual masturbation, […]

        LOL. Every time I think you can’t come up with something funnier you roll out a comment like that.

        I mean, complaining about being called names and then going on to do exactly that is, well, pretty mundane.

        But a Neoreactionary complaining about someone engaging in “mental masturbation” ? Sublime.

        I’m still not entirely convinced you guys aren’t just a great big trolling operation, since basically everything you criticise others for you execute so much to perfection yourselves.

        […] never mind you could never do it and all failures in execution would be the result of wreckers, rightists, etc etc.

        Yeah, I mean, it’s not like the incredibly successful Scandanavian countries, or America’s post-WW2 golden age (or dark age, I suppose, for you guys eager to get back to medieval Fuedalism) looked mostly like it, or anything… At least until the neoliberal right took over in the ’70s and started fucking everything up so a handful of people got rich and everyone else got screwed.

      • The left doesn’t give a flying f&ck about any of that – they pat themselves on the back about a $12/h minimum wage then march on the streets in millions for a gay pride parade. You’re all full of crap…

      • @ dr – why so touchy bud, i mean it just talk no? after all, nothing wrong with a harmless crank like me blabbering on is there. go ahead then, leave me to my delusions, won’t you kind sir.

        maybe it is because your cognitive dissonance is on display. maybe because your precious world view turned out to be a pathetic semi-christian cult with the predictive capacity of a chimp throwing feces.

        fell free to move to Scandinavia if it so perfect… https://www.google.com.au/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=muslim+rapes+scandinavia … have a look at the google search suggestions of what people search for, it’ll be instructive.

        try to not take anyone female with you, your political views might bite them in the ass. might do more than just bite them in the ass too…

      • ErmingtonPlumbingMEMBER

        Truth is Mig, your a lefty. A propper lefty, a working class left,… not part of the mealy mouthed “left” that has taken control of the labor party.
        I can tell by what you post that you realise the relentless coporate, plutocratic, propaganda being ramed down all our throats, in idelogical support of Neoliberalism, needs to be challenged.
        Surely you also know that no real challenge to this reality will come from the Right.

        The “Cultural Marxists”, liberal bigots and “Narcissistic Victimhood” types, that set the “Lefts” agend of late, shit me to Mig,…their authority needs to be challanged and removed, to put the left back on its traditional path of representing working people.

        Come on Mig, join up and lend a hand.

        Solidarity brother.

      • You need to get over yourself EP, witness the most recent US elections where the left screamed and squealled about the need to bring in millions of people to undercut your working class wages…. Wake up

        @T smithy is a gold plated hypocrite – I still remember the time he told us he was in the first class cabins of the TGV and would need to go for a walk to see how the peons were travelling…

      • America’s post-WW2 golden age

        America post-WW2 isn’t the benchmark if you ask me. Basically the US made the world reserve currency the USD and then printed USD for reconstruction in Europe, on the proviso that the European countries would buy American and also join NATO against communism.

        That’s why the US did so well after WW2. Not because of the New Deal, but because they had the biggest guns and weren’t afraid to use them (as demonstrated in Japan).

      • Mig won’t help you, Ermo, he’s just here to throw around incoherent abuse while the world burns.

    • FFS I knew ScoMo would “fix” this. Again, developers do not need to worry about counter party risk, and can achieve super amazing bubble prices from foreign buyers instead of plain old amazing bubble prices from locals. This is a terrible development.

      Next up ScoMo might view those years old never lived in dwellings withheld from accomodating the population as new builds too… Followed by formally removing the established dwellings restrictions *cough* to align with the actual non-enforcement reality.

      I cannot wait to vote Pauline and just hope she has enough candidates to fill both houses by then.

    • Mining BoganMEMBER

      So, what did Highrise Harry offer him?

      No wonder ScoMo speaks in tongues. His mouth is always full of developer cock. Harry’s must taste more than a little musty though.

      • It’s all out of sympathy for HRH now that the ACCC is investigating him for doctoring the Trip Advisor review process on his accommodation. Never a bad review apparently. Nothing will come of it of course.


        ‘Masking’ reviews, bribing guests, over stays worth a few hundred dollars. But they wouldn’t do that further up the chain now would they?!

        SloMo deserves to be well looked after in his retirement from serving the Australian people……the 0.01% of Australian people.

      • proofreadersMEMBER

        ScoMo has probably observed and admired Andrew Robb’s post-politics “achievements” in very short order and could be looking to the future when the coalition gets the heave ho at some point, whether or not he becomes PM on the way through to the exit door?

    • It is only fair to treat never financed shoe boxes as new homes.
      But only if original price is locked. A true substitute buyer.

      Either that or they crank the immigration

      • Cocksuckers all! I think ScoMo must have misunderstood, while growing up during the Cold War, when he heard that cockroaches were going to inherit the world, he thought it referred to Real Estate speculators.

    • It makes me wonder if someone has had a quiet word in the developers’ collective ears – “don’t worry, keep building, we’ll sort it, sweet as bro”

      cocksuckers indeed.

      the transfer of title would trigger a capital gain event? if it’s offshore to offshore how do we get our hands on the tax lolly?

      and, selling titles to non-constructed apartments is functionally equivalent to selling the right to buy a tonne of corn at a certain price at a certain date? now my brain hurts.

    • This article was interesting for 2 reasons.

      1. It is confirmation from the government that settlement is a large issue for foreign off the plan purchasers of Australian shoeboxes. This is an issue that has been building for over 12 months now, starting with the cheap-as-chips friend from Shanghai who bought 10 off the plan in Sydney and could not settle in March. The admission of the risk by the government should actually be a wake up call to punters because it paints a completely different story to that postulated in the SMH/AGE from Juwai about an increase in Chinese buyers. Simply put, IT IS EXTREMELY DIFFICULT TO GET FUNDS OUT OF CHINA. The rates charged by private equity and offshore lenders to Chinese to settle in Australia are obscene (over 10% in cases I have seen). To suppose that HSBC, ICBC and BoC will step in to fund all these mortgages is ludicrous in the extreme. The LVR’s for foreign income and the discounting on foreign assets would require the punter to put down 70% from other sources. Harry is offering 12% short-term financing to settle over 4 years but again with strict limits on amount borrowed. What is missing is the revised valuations at settlement which in Melbourne have been 15% below settlement price for CBD units. In Mascot, we saw the same discount applied to settlement price and in a recent Liverpool development a friend from Shanghai tried to settle it was 12%.

      2. We all know that the solution to a debt problem is of course more debt. This has been the Australian way for the last 20 years. Don’t worry about paying it off, just take more debt, property only ever goes up, we are special and all the nasty business in Spain, US and Ireland will never happen here because we have very low vacancy rates with very high immigration rates. Well amazingly, 2 of the 3 countries mentioned had the same immigration and low vacancy rates leading into their respective collapses. But I digress, more of what is causing the problem does not fix the problem. ScoMo has proposed the solution to the inability of foreign buyers to settle is to allow them to sell to more foreign buyers. And we have industry cheering this decision, the pundits screaming we are saved and the press championing ScoMo as housing saviour. But the small problem with this even my In-Laws saw is related to point 1. The revelation that it is difficult for foreign buyers to settle means that allowing more foreign buyers to attempt to settle will not fix the problem. To understand how an Australian property deal is marketed in China, you need to understand middlemen. If an apartment is advertised in Australia for $1,000,000 to me, a local buyer, the exact same will be sold for $1,150,000 in Shanghai with up to 3 middlemen each collecting 5% for doing the marketing and introductions. I was first exposed to this “ponzi” scheme marketing in 2010 by a Greek friend who sold into Korea and Beijing. Now the mark who bought in Shanghai can not settle, will he sell at a “loss” or will he try and increase the price further? He has already paid $150,000 and will obviously want a profit on this amount. So up goes the price. Next mark agrees and attempts to settle. Will the settlement be any easier for him? Price is still well above the value and now another player wants his slice of the pie. All the while, the developer is waiting even longer to fully settle and unless he is a large player, time is not his friend as mezzanine interests tend to accelerate if settlement of the loan is not made in time. Our new mark still has all the issues of settling that the original mark had, only now he is on the hook for a higher settlement. Now imagine our good samaritan original mark sells at cost to mark 2. The problem still remains with the local discount on valuation (and BoC, HSBC and ICBC do impose very harsh discounts to valuations in the target postcodes requiring 30% deposits – especially in Melbourne CBD). All up, this change will do nothing for the developers or the punters trying to settle that is positive. The extra time to settle will create an even bigger dilemma for the developer depending on the number sold internationally that can not settle (I have seen over 10% not settle in one development).

      So all up, unless the local banks relax their lending standards to foreign buyers, this change does nothing – it is just a nice article to keep people buying property in Australia.

      • Excellent observations OJ

        “…So all up, unless the local banks relax their lending standards to foreign buyers, ..”

        Stay tuned on that front. The taxpayer underwrites the banks so a bit more debt to ensure Morrison’s industry donors can settle transactions is no major obstacle.

        Nudge Nudge wink wink from APRA is all that is required and lending standards can be tweaked to let a few more over the line and keep everything right in the world.

      • As I said many times in the past China has the on/off switch to our economy. And now more than ever China is determined to flick it to Off position. Not because they want to damage Australia but simply because they need to stop the outflow of funds.
        But Australia can give them a reason to fast-track this if we send a ship or two to South China Sea.

      • @nic This is what worries me about the lack of any coherent policies by LNP government, it exposes the total inability to develop any strategic though process, and yes they will attract the ire of Chinese leadership with the ‘trademark’ unpredictability and flip flop which is ultimately unnerving to everyone / everything

    • Fark me. Guardian visas back in June, now this.. How many more lifelines can the government throw the property market? Can the entire thing just crash already? At what point do legislative changes have nil effect and the whole thing just crashes under its own weight?.. Surely there’s an inflection point in there somewhere.

      I could be wrong, but we’ve just recently moved house in Newcastle and people do seem a little jittery at the moment. There appears to be a massive push to fill vacancies ASAP, with inspections occurring before previous tenants have vacated — I don’t recall seeing this before in the 11 years I’ve rented in this region.

      So, is spooking the horses the right move? 🙂

    • That is a shocking policy decision. The ramifications will be enormous. Now we have a loss of sovereignty, as we no longer approve of who comes and buys our assets!!! Houses will be next. And not even a Boo from Labour!

      Sometimes you think our leaders are on the planet Mars. How does this benefit ordinary Australians guys!!!! Are you so out of touch? Why not let market forces take natural precedence????

      Really, really stupid.

    • “Unfortunately the best advice would probably be to buy a lottery ticket because I think you’re just locked out of the market,” Mr Alexander said.

      He seems like the only decent person in the entire party. Good work.

      • Could it be because he was the only one who achieved in a challenging field with application and hard work. Not many favours are handed out on a tennis court. That’s my theory as to why he seems to possess some integrity in an environment where it is sorely lacking.

      • @Andy! I attended Lindsay David and Phillip Soos presentation to the Inquiry. The only member who showed any interest was John Alexander. He listened attentively and was genuinely interested and concerned by the position put by Lindsay and Phillip.

        When rhe Inquiry was mothballed I wrote to him directly and he responded that he was keen for the Inquiry to be reopened so that the report could be finalised.

        He seems to be a good egg!

        My letters to Scott Morrison on the other hand go unanswered.

      • @stomper Thankyou for this information. I have since written to John to thank him. From my perspective using ABS Melbourne HPI vs Melbourne CPI, fair value is clearly 50% of current nominal. Half of every price that buyers choose to pay is literally bubble. This component of price is what needs to be swiftly and permanently obliterated. I am hopeful that John can help address this.

    • proofreadersMEMBER

      More than likely a total waste of time, if ScoMo, Kelly and Malcolm ever have to consider implementing its recommendations? Move on, nothing to see here?

      • More than likely – BUT by being live it means the issue gets greater airtime and given the level of growing community unrest, a good thing.

        If nothing else the counter position to ponzinomics gets put forward!

    • Full Transcript:


      He also kept on saying that investors were restricted to 80% LVR loans in the interview. repeatedly. I am not sure where he is getting this info from.

      JA: “What we’ve seen – and given – had evidence is that APRA reduced lending to investors to 80%.

      Effectively, if you only borrow 80% you can only deduct 80% and that really, they did that for prudential reasons that to protect banks from an overheated market. ”

      “How it works currently you can only borrow 80% of the value of a property and so, therefore, you can only deduct that amount that you have borrowed.”

      “HAYDEN COOPER: You did mention the changes that have been made in which the banks are less willing to lend, for example, to foreign investors now. They won’t lend above 80%.

      JOHN ALEXANDER: That’s to all investors. ”

      Also take with a grain of salt what he says. His electorate covers Eastwood, Epping, Top Ryde, Macquarie Park. Is he really going to say ‘overseas buyers are the problem’.

      But overall, good on him for saying what he believes in.

      • Funnily enough just because the demographic of his electorate includes large numbers of Chinese migrants dont assume they like the current situation wither.

        We have a 2nd generation Chinese/Australian at work who has been priced out of the market by f***ing Chinese/Chinese (her words).

      • ErmingtonPlumbingMEMBER

        A Chinese person in our Ryde labor party branch often brings up housing affordability as a major concern of hers, but has warn us all that her ethnic comunity in the area, were widely concerned by Labor’s safe schools programe and how it encourages young people to “become” homosexual.

        The liberal party along with the christian democrats were largely in cahoots, in spreading this misinformation throughout the local Chinese and Korean comunity in alaxanders electorate, especially through the churches they attend.

        Another case of average working people being conned into selling out their own economic interests, through misdirected moral panic.

  6. An article today in the Age on the reasons behind Mericas slowdown, they are blaming low productivity caused by a lack of competition.
    How about Strayas recent productive problem, the cricket team were not producing, in fact they were a bunch of losers. So how did we solve that, Boot camps, more guidance, more hugs.
    No sack the lot, or most of them, and re hire a new bunch of Warriors, who were not used to walking with a limp.
    The same is needed to fix the productivity issues in the economy, starting with Turnball.

    • ErmingtonPlumbingMEMBER

      457s from India and Pakistan could be the best solution for Australian Cricket,..those bastards love the Game and with the threat of deportation for bad performance, you know they’ll stay “on the Ball”.

      • best idea ever. lol
        I don’t follow cricket but from what I hear at work Ausies are really shit right now.

      • Now that South Africa have turned to their black and coloured communities for cricketers , watch out.
        It will be like having the 1980’s West Indians squared.
        If the SA’s get 150 infront today, we will probably lose this one as well.

    • Either that or to crank up the immigration.
      Treatment of unfinanced new homes is somewhat fair, but only if the replacement buyer gets the shoe box at the original price.

      • @ Stomper
        How is that different from Soviet model of controlled economy?

        I conditioned it with ‘original price tag retainer’ to eliminate fraud and malicious intents…

    • I didn’t know there were any limits on foreign buyers, but let’s just make it easier for them anyway. Anything to stop the bubble from even slightly deflating!

  7. This is only a harbinger of things to come. We are mostly dependent on others for our essentials now.


    The RBA should be building up our foreign reserves against disruptions to come instead of building up its Australian dollar assets to protect the banks with. Never mind the separation of church and state, how about a separation of banks and state.


    • Give Colesworths a few more years screwing our farmers over and everything we eat will be flown in from a different hemisphere. Send a message – shop at Aldi, IGA, Farmer’s Markets, anywhere except frigging Coles and Woollies.

      • @Djenka – the answer is they aren’t different. Its the wholesalers that dictate this stuff, see Metcash for an example. Misplaced anger by Oz

      • I thought so.
        Aldi comes from afar but tries to sell local stuff. At least no BS on the origin of the rest.

        I used to drive all the way down to Dandenong Market believing I am buying local, fresh and for less.
        Until I saw that they were just open air market-ers of the same produce that is sold in ColesWorths.
        I doubt any of the urban/suburban shopping centre small ‘fresh produce” markets deal much outside the big chain of supply

      • Djenka – your Dandenong markets experience isn’t the worst of it. The hipsters selling organic produce at 500% the price of normal produce are getting their supply from the same place that supplies Coles/Woolies (seemed more reasonable than our bearded mates in only banging on a 100% premium for their organic produce). There is a family run organic produce/farm business in rural victoria that advertises this very fact.
        I had a well intentioned mate arguing that it was worth every penny spunking the extra on the hipsters until i proved it to him via financial statements and press releases, you know, actual evidence. He was distraught and doesn’t bother with his bearded mates no longer, hahahahhahahah, fool and his cash being easy something…..

  8. A good piece of investigative journalism on the topic of foreign purchasers of farm land in Canada.

    The driver appears to be the tax treatment of the land. If you tax the city, they go to the country.

    Reusa may have been the design consultant as this seems like his type of farm house.
    “Mr. Shi’s 22,000-square-foot Richmond mansion has five large suites, with “massage Jacuzzis”…”

  9. “Melbourne is set to become so choked by cars in coming decades that the average speed during the morning peak will drop to just 31 kilometres an hour – even with billions of dollars of planned road and rail upgrades.

    In a depressing analysis of the challenges facing Australia’s fastest growing city, Infrastructure Victoria bluntly warns it will be impossible for Melbourne to build its way out of congestion.”

    But let’s add more people anyway


    • “and the Coalition’s restrictive immigration policy” Bwaahaahaaahaahaa

      “The emphasis is on planning and construction of settlements which “minimise environmental [destruction] and maximise social well being”. In line with this, there are references to the need to reverse the drift of population from rural areas and provide services of the highest standard in all areas.”

      And they really delivered on that since 98

    • Worth noting that back in 1998 the immigration level was about 60,000 per year and the expectation was 23M would be reached in 2040.

      What the Greens and the ALP do not understand is that there is a world of difference between 60,000 and the numbers since Howard switched on the afterburners.

      They have fallen asleep at the wheel and ignored the impacts across the country of the Howard Big Business population ponzi scheme.

      It didn’t help that both the Greens and the ALP were infected with the ideology of neoliberalism.

      If the ALP and Greens dont wake up now and get it through their thick heads that there is nothing warm and fuzzy about a corporatist neoliberal program of massive immigration they will hand the country over to Pauline and friends who do understand the rising levels of resentment.

      We can already see the LNP cheer squad waking up to the issue and start calling for limits on the ponzi program before they get eaten from the right.

      Wake up ALP

      Wake up Greens.

      • On current path the Greens are headed to oblivion. They are a divisive joke of a party and I don’t want them to wake up.

        Labor is the interesting one. If Bill Shorten fails, Labor will make the mistake of handing leadership to the left-faction. It will be the end of them as well.

      • No chance. Labor and the Greens are riddled with ideologues. They can’t change without a personal identity crisis – the most feared, but liberating of changes. Therefore, they will probably destroy their respective party first. Plibersek on Friday, keynote speaker at a Feminiist Conference:

        “When people say they like politically incorrect talk, what they are actually saying is that they like or at least are not troubled by sexism or racism in the public discourse … it’s not far off saying that they are not troubled by sexism or racism.”

        Considering the lately expanded definitions of racism and sexism, she’s probably right.

        Still not getting it. Not to be trusted.

      • EP,

        How do we do it?

        By going straight to the folk they need – the voters – and making it clear we are doing exactly that. That is ultimately what populists like Trump and Bernie did. Bypass the political machines.

        Keep in mind that both of those parties – ALP and Greens – are chock full of bright ‘progressive’ folk who fancy themselves as the solution to the world’s problems.

        So while they will scratch each others eyes out in a nano second in a branch stack or an internal fight for power they are still desperate for the confirmation that comes from electoral success. They want power so much it hurts. No different to the
        LNP drones in that respect.

        If you want to change what they say and do you have to change their perception of what will motivate a voter to vote for them. But that also means changing what voters are thinking as well.

        That takes time – especially changing what voters think – but fortunately, finally the voters are thinking ‘different’ or at least are fed up with the status quo.

        The GFC was not enough to destroy faith in the neoliberal consensus. The neoliberal economic consensus defended itself by quickly flooding the system with cheap bank created money or CB money. That money mostly just propped up asset values but the trickle out wealth effect kept regular folk from revolting. A process of “cake” distribution that made asset holders very rich and pleased as punch and kept the peasants in line.

        But this approach was not cost free as it was very inefficient, bloated asset prices, misallocated resources and involved lots of people remaining deep in debt or getting further into debt and the trickle out of wealth gradually ran dry and deflation appeared.

        People are fed up with the cake dished out after the GFC by the neoliberal consensus.

        Almost 10 years later the public around the globe is starting to understand that the issues that caused the GFC were NOT fixed and are now even worse than ever.

        The globalist neoliberal economic model is running even more out of control.

        If the ALP and the Greens are to wake up they need to get their heads around a few points.

        1. They must abandon their project for some international technocrat run world order of a brotherhood of man as that sounds to voters much the same as the international world corporatist order promised by neoliberalism. I suspect the similarity is why so many of them have become neoliberal true believers and support stuff like FTA and TPP.

        2. They must shift their focus back to the local and concentrate on fixing our bit of the ‘neoliberal infection’.

        That means re-asserting Australian economic independence by weaning the country off unproductive capital inflows, fixing our banking and monetary system and by doing so rebuilding local industry, production and employment.

        3. This does not mean economic isolationism or tarriffs and quotas – it simply means protecting Australia from the cheap predatory inflows of unproductive capital from our trade rivals. At the moment gooses like Penny Wong don’t even understand the differences between productive and unproductive inflows. We can have trade and the relatively free movement of people without freedom for predatory capital flows to gut the economy.

        There is a huge opportunity for social democratic parties but they must be prepared to let go of their globalist technocratic world order pretensions, focus on the local and the national and understand the difference between competitive and free markets, productive and unproductive caputal inflows and the extremism of neoliberalism.

        I am not very interested in trying to convince some condescending party drone.

        My focus is to try to raise the level of general understanding so that people can articulate what their gut instinct is telling them. I let the pollies know what I am doing in the hope that some bright spark will pick up the ball and run with it.

      • ErmingtonPlumbingMEMBER

        I agree with all you state above 007,

        But is the solution simply a matter of “protecting Australia from the cheap predatory inflows of unproductive capital from our trade rivals.”?

        I feel the major impediment to our achieving more “successful” democratic outcomes, benefiting the majority of citizens, is the interchangeability and movement of individuals in and out of Government and the Corporate sector.
        Just as with the separation of Church and State, a separation of “Corporate and State just seems obvious to me, if one desires a truly representative democracy.

        With the world so obviously being “directed” by this Plutocratic Neoliberal cadre for decades now, I can’t help but feel a little dismayed, that nobody seems to be talking about such a separation, beyond talk around restricting direct political donations etc etc.

        Elected Representatives should be outlawed from EVER receiving money or favours )for themselves or family) from any government lobbying institution,…including Unions. To me this is the only way we can have truly “Representative Democracy”

        But what would I know, Im just a plumber

      • Interesting that you mentioned Tania Plibersek and her “proof” of oppression against women. The thing here is that a big part of the problem is that the elites are mostly lawyers. This sort of legalistic manouvering of arguments is actually how lawyers are taught to think. It is endemic in the ranks of the silvertails and mainstream politicians. Listen to how TurnBubble talks in interviews – its like he is arguing a case and success means bamboozling the court and winning the day.

        I am pretty sure that if you start looking closely, you will see that most of the bad decisions coming from our leaders are not based on any type of analytical thinking, but rather they can be traced back to a A then B then C sort of block thinking. There is no Big Picture because that is not admissible. Of coarse, anyone with even a tiny understanding of logic will realize that you can construct an arguement to support anything and superficially it will look right, except mostly it will be complete rubbish. Take ScoMo as an example. He is puportedly a god-botherer, yet he is flat out sugar bagging the Real Estate industry even though that hurts many fellow Australians. He will have simple logical “proofs” that justify everything he does. Big Picture views of what harm he does will be dismissed as irrelevant, or imprudent or unprofessional. These people have a vast armoury of special words so that they can do what suits them while they agree with each other that it is all for the best.

  10. Not sure how these missed the list (and Washington Post’s agitprop article on election interference made it):

    Washington Post Names Drudge, Zero Hedge, & Ron Paul As Anti-Clinton “Sophisticated Russian Propaganda Tools”
    European Parliament slams Russian ‘propaganda’; Vladimir Putin cites ‘degradation’ of West democracy

    Here’s what EU’s Ministry of Truth said:

    Propaganda pressure on the EU from Russia and Islamist terrorist groups is growing, MEPs warn in a resolution voted on Wednesday. It seeks to distort the truth, incite fear, provoke doubt and divide the EU. To counteract anti-EU campaigns, MEPs suggest reinforcing the EU’s tiny “strategic communication” task force and investing more in awareness raising, education, online and local media, investigative journalism and information literacy.

    I guess being beaten in own game and with own set rules makes it unfair and a “propaganda”

    • Ahhh yes, zerohedge. The Breitbart of the financial world. I was bored the other day and decided to do some DD on them.

      Just who is this “Tyler Durden”? As it turns out, its a collective. A Daniel Ivandjiiski is one, the head honcho of “Tyler Durdens” the very same Daniel Ivandjiiski that was barred by FINRA for insider trading. no big deal, we’ve all made mistakes. http://nypost.com/2009/08/21/blogger-may-have-a-past/

      Let’s dig a little deeper. Just who’s running the show behind the scenes? None other than Ivandjiiski Sr, out of Bulgaria. Why does that matter? Seems he’s got his own agenda to push. “Craig Pirrong has written in his blog Streetwise Professor about  Ivandzhiyski‘s propaganda in service to Moscow” http://bulgariaanalytica.org/en/2016/06/26/zero-hedge-вече-и-за-българска-употреба/


      Not too long ago Bloomberg ran a story on Lokey, one of supposedly 3 authors responsible for most of the content where he says “I can’t be a 24-hour cheerleader for Hezbollah, Moscow, Tehran, Beijing, and Trump anymore. It’ s wrong. Period. I know it gets you views now, but it will kill your brand over the long run. This isn’t a revolution. It’s a joke.” https://www.bloomberg.com/news/articles/2016-04-29/unmasking-the-men-behind-zero-hedge-wall-street-s-renegade-blog

      So is it fake?

      • @ Jason

        Ahhh yes, zerohedge.

        So is it fake?

        Good, you debunked ZH

        Now, to be taken seriously you need to debunk Ron Paul and Drudge.
        followed by the other “fake news” from the list?

        “They use our technologies and values against us to sow doubt,” said Robert Orttung, a GWU professor who studies Russia. “It’s starting to undermine our democratic system.”
        (Washington Post)

        Doubt, the core value of democracy, is undermining democracy it self?
        Ooops, it says “our democratic system”, not “a democratic” system

        Link: Using fake news against opposing views [Liberals just can’t abide competing points of view]

      • Most of their articles are more accurate than any MSM read. That tells you how screwed up the western media and system is. Trying to tell us we have democracy.. If any sites that publishes views outside the accepted “standard” they are branded Russian propaganda.
        On the other side Reuters just wrote an article about the offensive in Sirte in Libya where troops using American weapons bomb the shit out of IS and the civilians in the town but no mentioning of civilian casualties. If it was Vlad and friends bombing Sirte (still against IS) Reuters and rest of the Cheerleader squad would have reported 3756 hospitals being destroyed and made Sirte to have even more hospitals than Alepo who has more hospitals than all of ME.

      • @Djenka….

        ZH does have a credibility problem, for whatever usable technical perspectives and what can be gleaned between the lines, its a bad case of ridged Kantian ideology bending everything to its perspective. One only need to look at the comment section over the years, relentlessly devolving, back some time ago there was, at least, a few commenters with more than groupthink, adolescent dog piling or scenes from the monkey cage at the zoo on offer.

        The Ron Paul thingy is a bit concerning when one examines a little further under the surface, Gary North is not a good look imo.

        Disheveled Marsupial… the other concern is an abysmal track record wrt predictions, where the only resolution is ev’bal forces are thwarting the light from manifesting.

      • Your first mistake, Djenka, is that assuming because I agree that ZH is a dubious source of information that I also agree with the rest of that list you posted.

        My major beef with ZeroHedge is that they publish information anonymously. Anyone can make up shit and publish it under a pseudonym, and there’s no avenue for recourse if it’s found out. It’s the positive and negative of anonymous sourcing, obviously people that release information may want to be anonymous for legit reasons (like avoiding repercussions of releasing the truth of something), but the same reasoning also means people can release false information for nefarious means. That’s why journalism exists… to take information from source (who may wish to remain anonymous), confirm its veracity through other sources, and then publish it under protection of freedom of the press laws (that assume the press does its due diligence). If the journalist fucks up and fails to confirm the source before publishing then it’s their arse on the line… those who publish under a pseudonym have no downside.

        An anonymous blog has far more incentive to just post rather than actually edit (ensure sources have been vetted) because they want to drive traffic. Even if they aren’t directly making shit up, there’s little incentive for them to fact check things they are passed because if they don’t keep posting every day then they will lose views and ad revenue.

        So I disliked ZH before the article you posted primarily because they publish under a pseudonym, and with a little bit of research it seems like they may not have objectivity and freedom of the press at heart when they publish.

        What’s funny is that you assume I agree that the rest of the list is fake news… except I don’t – there are actually legitimate journalists on that list, and if you actually look into the sourcing behind the WaPo article you will see they sourced another anonymous blog… which I find hilarious. That list by the “PropOrNot” organisation (containing both ‘Left’ and ‘Right’ blogs, as well as some dubious blogs) has only one thing in common – they’re all critical of current US policy. But by elevating the ‘research’ by this anonymous PropOrNot organisation, that hasn’t even provided a formal methodology, it does really make the WaPo look bad.

        The world of misinformation is not black or white, as you seem to think.

      • I like ZH but it’s getting worse and worse in terms of the clickbait. Not only that, so much stuff is framed to omit details that get in the way of a good story. I used to be a smart ass in their comments section, particularly on oil (and there was another guy doing it too) when they wouldn’t post charts showing production in the US was falling or imports were reason stockpiles were either up or down. The morons in the comments were screaming because they didn’t bother going beyond what the Tylers posted “i don’t get it, it’s all rigged, why isn’t oil at $10″. I had three accounts banned for joking about stuff like this, yet you can call Obama a chimp or the n word and you”ll stay active, despite their discrimination policy.

      • Miggie….

        I was calling out Krugman on NC and other economic – financial sites years ago [IS-LM] amongst other neoliberal tenets, Krugman only has pangs for the little people, this is why your knee jerk use of the word leftie is so wonky.

        If your memory serves we went down this path yonks ago, IS-LM [w/ taylor rule bolt on], DSGE et al models, VaR, and all the quasi religious deep thunkit which became dicta w/ the help of friends in high places and wads of cash.

        Disheveled Marsupial…. even if there was a traditional left [skilled trades wanting a slice of the pie] its moot… neoliberalism has been the dominate sociopolitical and economic agency since the 70s. That incorporates AET, neoclassical, monetarist and quasi monetarists… everything else was banned or marginalized by the corporatist control of the education system and media….

      • Let me remind that my post was indication on the Beltway’s (and its cronies) full-on and direct attack on difference in opinion (from their ‘truth’). Not about ZH

        @ Skippy

        There is no contest of ZH’s credibility deficiency. Not lack of it, but deficiency.
        ZH is nothing more then a Yorkie: guts of a raging bull, fangs of a cat and it jumps at any noise.
        Alarm part is the most valuable part. It will jump at any suspicion (unlike bigger dogs that cannot be bothered at times).

        Not sure why you thought that ZH is leaning towards meaningful comment section. It is obvious that there is 0 moderation. But none the less, a useful link may be sifted here and there, through a fine sift.

        IMO, humans are prone bending everything into a perspective. Take Macrobusiness and you will find the same. Sure, the depth of the bend would be vastly different from ZH but not the principle. Similarly, the face values are equally distant. But both are valuable to a point.

        @ Jason

        Take ZH as “opinion peddlers” and it may remove your grudge. Opinions do not require faces or names.
        Law discerns opinions from journalism (which ZH is not).
        I understand that ZH has credibility deficiency but your response is a digression and deviation from the centre point that Beltway and its cronies are cranking up attacks on the difference from their opinion(s) (enforced onto plebes) and are peddling it as if these are an attack on the democracy. Both sides of the northern Atlantic. Hence my response asking you to debunk all of the remaining “fake news” outlets with opinions different from the MSM. A bit of sarcasm there.
        Perhaps if you picked another post where someone was peddling ZH as gospel truth…

  11. http://www.smh.com.au/business/crown-assembles-legal-war-room-in-act-of-a-covering-20161124-gswpdv.html
    I dont think James Packer has any idea how serious this shit is.
    There are 3 Aussies (one a westerner) almost certainly facing 5 plus years hard time in a Chinese prison.
    If I were one of the arrested Aussies I’d be screaming …Lets make a deal!
    Truth be damned, if it were me I’d be willing to say what ever was necessary to give Chinese authorities the ammo they need to issue an international arrest warrant for James Packer. This is serious shit many fit people simply don’t survive one year in a Chinese prison, and they’re looking at at least 5 years. I’ve no idea if Jason O’Connor even speaks Mandarin, if not this is doubly serious…I mean the strategy that got Crown into trouble was cutting out the middle man, guess what there are plenty of pissed off “Middle-men” doing time in Chinese prisons, so don’t expect a warm welcome, unless you include golden showers within your warm welcome categories, I’ve heard that this is a traditional Chinese Prison gang welcome for marked men.
    I used to gamble illegally in China so I a few of the Shanghai underworld’s BSD’s, one that I spoke too recently was just a little too happy with this outcome. In China you’ve ALWAYS got to be very careful when you start cutting “unnecessary” players out of the loop, it’s usually not by accident that they control the lucrative middle man position.
    If I were James Packer I’d be scared, and I mean really scared. The Chinese legal system is to say the least opaque and completely untested wrt its integration into the system of International law. There’s no doubt in my mind that JP has broken Chinese laws and for the most part the Chinese dont recognize the fig leaf of “incorporation” as absolving business owners of responsibility…In China majority control = direct responsibility. The other thing to keep in mind is that Chinese laws are not necessarily written down, you wouldn’t be the first person convicted of a Crime for breaking rules that were written after your arrest.
    Whatever the final outcome one thing is certain ….this opens a new chapter in Aust/China business relations and everyone is on notice to keep your business above board or face the consequences.

    • Any chance we could contract the operation of our prisons to the Chinese? iPads, pizzas, internet, resort style living……provided you can get a slot in there (takes a rap sheet of 20-30 serious offences these days).

    • haahahaha – he is at least 6 degrees removed from these executives. There is absolutely zero chance of him being locked up absent of some direct email or the like instructing them to get up to China and to ignore historical legal advice.
      Just say you are close to being proved right (as an intellectual exercise) then he’ll contribute to some Chinese cause with a massive cheque and then its job done.
      Good to see you are now acknowledging my point from a few weeks ago that China doesn’t respect the rule of law.

      • In China, the Company Chairman is liable for all the actions of the company. So 6 degrees of separation mean nothing, he is the Chairman and therefor he as good as committed the crimes himself.

      • No chance OJ – if you are correct about the liablity resting at the feet of the Chairman then Lawerence is taking this one, see pages 3 and 107 here

        After looking at page 107 you will ask what does that mean in practice, well it means after his demotion he may not be calling the shots, see here http://www.forbes.com/sites/muhammadcohen/2016/05/08/less-james-packer-not-more-for-melco-crown-in-macau-manila/#835ff81398a1

        Come on mate, a bit of research, you’ve got the time, its the weekend

      • I don’t follow Crown, had thought Packer was still the Chairman of the Board… http://www.abc.net.au/news/2015-08-13/james-packer-quits-as-crown-chairman/6693960 – Melco Crown that you linked is not the issue. China will look at the dates of the offences and will consider not just who is in place today but who was in place during the entire time that the laws were broken. If it pre-dates the resignation mid-last year, then he is still in play. How long was Crown bringing in whales to its Australian casinos again??????

        Oh and don’t get fooled by idea that this was changed in Feb. As noted repeatedly in the last few months, this has been a grey area in Chinese law and anything grey will be interpreted to support the Chinese governments current desires.

      • @travis, I’m guessing that you’ve never lived in China. never heard the stories that I’ve heard, never wondered if the legal distance that you’ve personally created under western law would stand the test of Chinese legal pragmatism. You do understand that the State wins over 99% of the cases that they prosecute, that’s a remarkable statistic and one that suggests they’re not overly bothered by the “facts” or in anyway interested in the defense’s case.
        I’ve got a feeling it’s you that needs to do some research. Personally I don’t think the Chinese officials will bother reading page X or page Y of any document that you crafted specifically to distance yourself from that which is otherwise so closely associated with you personally…you don’t get it both ways.
        Yeah if they come looking for JP than he has plenty of money to splash around, that’s what’s he’ll be advised to do, if the advise he receives is worth hearing, heck it’s what he should be already doing. But you do have to ask yourself how much is enough and that quickly becomes a political question. What are Australia’s policies, what is the Chinese media saying about these “criminal” activities, trust me when I say that these days the Chinese people get really pissed when they see Westerners committing crimes in China and getting away with it, I think you need to spend some time monitoring Chinese social media, because from what I’m reading your finger is no where near the pulse.

      • @OJ – my bad, you are correct it looks like a Crown (australian casinos) issue as against what I originally thought. I thought I had read ages ago that they were all based in Macau at Melco and “badged” as crown employees. It seems its me that needs to do the research, apologies.
        Good summary article here http://www.theaustralian.com.au/news/nation/how-team-crown-bet-hardon-its-softlysoftly-pitch-in-china/news-story/a231ebb82f5b938b19d3aa2ec57d8c3a
        Packer could be truly farked indeed, depending on that time frame issue

      • Are you for real CB? Our gvt wins 99% of the cases here, you obviously get special treatment because you can afford the bribe *cough* lawyers

      • Nothing will happen to Australian based Crown senior execs, but I am guessing they’ve been advised never to go holidaying in China, Taiwan, Malaysia or the Phillipines…

      • mate but I’m pretty widely travelled and have done serious business (mutli USD billions) across loads of international borders

        I read almost all your posts with face -> palm. The slavish devotion to convey authority and experience is so blatantly covering the indescribable clarity of your almost total inexperience in things. You really don’ t get things no matter how desperately you try and convince everyone about your incredible skill and expertise. Even in this series of posts, yours immediately was read with a “oh what the absolute f*&k is this idiot talking about”. You just don’t know how obvious you are.

        Statements like the one above read like a 12 year old big noting their daddy’s fire engine driving status…..absurdly childish.

        They don’t have a diplomatic bone in their cultural body, none, absolute zero!! You only have to witness Tibet and the Sth China Sea island developments,

        And here is where you really let lose with almost total ignorance verging on stupidity. Tibet has been considered part of China for 5000 years. Just because the British decided that they wanted it, and it wasn’t part of China 100 years ago, and RIchard Gear did a nice movie – doesn’t mean shit.

        And this is the western bias you simply can not wrap your head around.

        You, the westerner, with your Anglo Saxon British decent, heritage and legal framework rampaged through India and Pakistan, Tibet – slaughtering literally millions – twice as many died under the British forced taxation system than in Mao’s great leaps. They, you, the British, divided up the area, ruled over it, oppressed, brutalised, and devastated the entire region for centuries in what amounts to the single worst, most nefarious act committed by one nation against another in almost all of history.

        But you decide to finger China ? Like literally HOW THE FUCK can you even come to that conclusion ? Its utterly insane.

        The same western nation which had invaded an imposed a forced drug trade on the nation in order to alleviate their trade costs, a drug trade which wiped out half the country in an absolutely brutal act of destruction, and then seized Hong Kong as compensation.

        But China is building an Island ?

        Seriously ?

        What were your thoughts on the westerners actions in Diego Garcia – an Island nation home to hundreds of people which the British and their American buddies de-colonised, literally went in and seized the Island, removed all the people from their own country, and then paved over the entire thing with concrete and used it to fly missions into another sovereign nation and obliterate it with stealth bombers in a totally illegal act of war ?

        Oh, nothing, its only wrong when China does it.

        You see ?

        This is the problem – you are the problem. What ever the west does is fine and dandy. But the Chinese do ANYTHING no matter how relatively trivial in response and they are barbarians.

        It is ignorant absurdist drivel from someone who has absolutely no insight or understand of history, politics or international relations. And so when you trumpet your credentials about your daddy driving a fire truck while sprouting inane comments regarding the behaviour of former colonial subjugates it is just utterly cringe worthy.

        China is literally surrounded, SURROUNDED by the vestiges of the most extreme brutality in western colonialism – Japan, Vietnam, Philippines, Malaysia, Laos, Myanmar, India, Pakistan, Afghanistan, Thailand, its just an extraordinary list of heinous western brutality.

        It truly blows my mind to even read your comments regarding China. No idea – none.

        Billions across loads of international borders. No worries Soros. I believe you.

      • @OJ I LOVE what you are saying about senior execs having true skin in the game. This is how it should be. The western world could learn from this. I would be entirely supportive of retrospective application of it here.

      • Completely have a to agree with Terence here – China not only most certainly does have a diplomatic instinct, it is in fact so advanced that we still employ the word mandarin to inscrutable government bureaucrats.

    • One of the risks of running a money laundering operation! Looking forward to when they come after our real estate agents!

    • What could Mr Packer use in this situation:
      – Channel 9 with its legendary 60 Minutes extraction team?
      – Current Affairs’ Tracy Grimshaw as brow-beating backup team?
      – Channel 7s Cash Cow as distractionary bribing entity?
      Not a detailed plan I know, but . . .

      • What you’all are not understanding is that it is precisely the Western morality underlying this 60-Minutes Kidnapping in Lebanon that is SO offensive to the Chinese. That Aussies aren’t screaming for these Kidnappers to be locked up in Australian jails underlines the hypocrisy of International law and the Westerns exemption that’s implicit in the crafting of all International laws. That whole 60 minutes team should be facing legal action in Australia, they’ve gone to another country and intentionally committed a very serious premeditated crime, yet when they arrived back in Australia they received pats on the back and big bucks for sharing their story.
        Sorry mate but the worlds changing, and your 1980’s concepts of justice need to also evolve with the changing world.

      • @China-Bob – no offence mate but I’m pretty widely travelled and have done serious business (mutli USD billions) across loads of international borders (not an attempt to piss in my own pocket but honest reflection) and I fully understand exactly what you are saying my friend. I totally get it I really do BUT that is my critique of China. They don’t have a diplomatic bone in their cultural body, none, absolute zero!! You only have to witness Tibet and the Sth China Sea island developments, sure I get the US/UK etc are at fault for the same but we are talking China specifically here and passing comment on their observation of the rule of law.
        And I get that they don’t give 2 farks for my criticism, but nonetheless that is my view. It’s a view that wouldn’t be enriched by actually living there despite how many times I’ve been there.
        You are so right that the Western World has not woken up the changing power dynamics, I share your view of that. However, they will come to know its not all take take when you hold a major position at the table. They need the West hugely, their debt fired economy hasn’t switched to private consumption and isn’t likely to anytime soon. Don’t get me started on the cultural restrictions around new idea generation, we had that discussion weeks ago.

      • hell, it was only two weeks ago that all of the Canberra/Washington analysts were basing their white papers and engagement policies with China on the premise that it was on the path to transitioning to a liberal democracy. Not sure if the white out has dried yet. Yet when you’re wrong on the big things, you’re also generally wrong on the small things!

    • Or he pays protection money, sorry, tribute to some shadowy figure for every year of the rest of his life that they can hold this threat over his head. Or he does like the wealthy Chinese do when they get caught and pays a lookalike to stand trial and do his time for him (would be super easy, since whiteys all look the same to Chinese eyes anyway).

      Or maybe this is where he mysteriously “dies” in a plane crash and lives out the rest of his days on some private tropical island.

      Plenty of options for the lad.

    • CB

      Do you think the action taken against Packer is due to the middlemen he attemted to bypass or is it more to do with the South China Sea?

      Is the PLA still a player in the gambling scene in China or have they moved away from that activity? If it is only localised players unhappy with Crowne going around them I think it more likely that the Chinese are putting a shot across our bow, saying that if we keep pushing about the south china sea then it will have severe commerical consequences (we need them, they don’t need us).

    • “…and for the most part the Chinese don’t recognize the fig leaf of “incorporation” as absolving business owners of responsibility…In China majority control = direct responsibility.”
      Whaaaat, they hold corporate kingpins responsible? I like it !

    • CB, does this have anything to do with money laundering and President Xi’s clean up of China?
      Or, as you say, is it merely about people not getting paid in the middle?

      From a doing business in China PoV, if it is the latter or the former would be a very important distinction to be aware of.

      • I’ve got no idea what is the root cause of these actions. The individuals that I’ve spoken with all see this action through their own distorted optics, so there are lots of people patting themselves on the back for fixing a problem. That’s in part what makes this so serious, Crown’s actions have pissed off a lot of powerful people in the Shanghai region, these individuals sit on both sides of the (legal system / criminal, underworld) boundary if they’re really cooperating than Crown is @#$%ed. totally @#$%ed.
        Re PLA and it’s involvement: I know that they were very involved in the whole Shenzhen underworld seen and through that exercised effective control over HK and Macau. Things were always different in Shanghai. always have been probably always will be. The complexity of the relationships that need to be managed is what makes China such an interesting place to do business, and by interesting I mean risky. Things can and do change, so if you’re paying off people you need to be absolutely sure you’re paying off the right people…I’m guessing that Crown decided it was paying way to much for a job that they could do themselves. The problem with this sort of analysis is that you only see how much you are paying out but you conveniently ignore where some of that money goes that’s when things start to get dangerous.
        In this case we have the added danger of a crack down on corruption, so this was definitely not the time to be short changing those that guaranteed your protection because in reality they are being asked to deliver up someones scalp, you don’t want your name at the top of that list…I suspect that is precisely what Crown has achieved.

      • Thanks for your wonderful interpretation C-B.

        Just a last question in terms of timing – is this event happening after the break up with Mariah Carey simply a coincidence? ie Putting pressure on when one is at their perceived lowest mental point. If not, then one could surmise that this is in fact due to actions of Crown rather than a geopolitical message.

      • In don’t think their overly concerned with anyones personal life so the whole MC breakup is just an unfortunate coincidence,
        That said when things go pear shaped in one part of our lives it often has results in our standing firm on issues where we should really show flexibility. From my own experience, Chinese officialdom, is totally tone deaf when it comes to dealing with a situation that is already unraveling. The body language gets misread the frustration gets misinterpreted. and they unnecessarily escalate that which should be simply defused. Been there done that tick it off! Not sure what advice I can offer except to say that (again from my own experience) Chinese bureaucrats respect calm well thought through pragmatism (regardless of the underlying morality) and despise erratic emotional ravings, especially the kind that would see fault in the judicial process. Sometimes it’s hard to step back and appreciate this from their perspective..as in: …I didn’t profit from this..:I didn’t start hostilities… yet your all expecting me to find a solution…well @#$% the lot of you…you can all rot in jail and I wont louse any sleep over this.

    • farking disgraceful conduct and its both parties at fault as well given the 10yr timeline. I’d like to see the actual rate of that cash that made it to the causes on the ground.
      I’m loving the fact that now Clintons are dead in the water that the previously worthy causes are now without merit.

      • Mining BoganMEMBER

        Tell the media that. They went hard for young Sam but when Brandis tries to steal a million barely a word is spoken.

        ABC, I’m looking at you…

  12. http://www.news.com.au/entertainment/tv/morning-shows/daniel-mcconnell-on-sunrise-hero-had-sam-armytage-and-david-koch-in-stitches/news-story/338a9bb64e1cb80685cce929af168882

    Have you noticed how the media (particularly Karl Stef… ) has taken to showing us how lovable and charming poor people are? Lisa Wilkinson sits next to him in the studio and she is like looking at at baby animals doing the darndest things. She even screws her face up its so cute. What this tells us is that the poor people are actually doing great in their own habitat and there is no need to feel guilty about any of the important elite business like tax rorts and Banks. The poor are perfectly happy as long as they have a bit of a roof over their heads and a pair of jocks to wear.

    I am thinking that the next thing on breakfast TV might be for Karl and Kochie to round up some of the poor people’s young ones and make like a petting zoo so their private school children can see the poor in the wild – so to speak. Lisa could be like “Look Alistair! See that cute little one over there in the K-Mart stubbies and rotting teeth. Would you like to throw a stick at him and see what he does?”

    • DM, those shows are little more than lightweight gossip. However, if I’m channel-surfing at that time of day and Cash Cow is on I will watch for a few seconds to see what the Cow gets up to. Those shows are designed to maintain the status quo and the hosts chosen on the basis that they will never, except accidentally, say something that addresses the root cause of any problem.

      • I remember David Koch going extra 100 miles creative on couch journalism when MH flight crashed in UA. True mouth for hire.
        Never turned to 7 news and 7 daytime TV since then.

  13. Good speech by Jacques (CEO RioTinto) – position Australia as global mining epicentre – position our most important sector as key to economy domestically and go-to for global mining community.

    “I’d also like to acknowledge Sir Arvi Parbo, Leigh Clifford, and Martin Ferguson who are all in this room, for their contribution to the industry.

    All of you are giants in our sector.”


    • “the world becomes more protectionist, countries look to shut their borders and turn inwards, Australia
      could buck the trend.
      Open its doors. Open its heart. To the mining industry of the future”

      LOL open our hearts? WTF

    • Did you actually read the article?

      I did, and while I wouldn’t necessarily agree 100%, and I’m not a Jane Caro fan in general, I thought it was fair enough as a point of view.

      But hey if you ever get a girl pregnant I’m sure you’ll man up and take responsibility.

    • Miggie….

      Your always banging on about getting screwed over or others getting it… in your perceptions.

      You are aware of Cuban history right – ????? – I mean right from the start as a raw resource extraction point utilizing slave labour, after the indigenous population was sorted. Fast forward to the revolution where the local population got sick of being governed as a Banana Republic and an offshore tax – wealth haven for wealthy anglophones.

      Well the deplorables rose up and took matters into their own hands, sure, sure, they rallied around a counter philosophical banner that was contra the one they were fighting against – go figure…

      So after all was said and done Castro hopped a flight to DC for an initial meet and greet as head of state… you know what happened – ??????

      Disheveled Marsupial….. its a trap miggie…. can’t wait for your reply…

      • Cop out miggie… bad form…

        Disheveled Marsupial…. please attempt to reconcile history and flesh out the actual outcome of that first meeting…. and how it translates to everything after…

      • Miggie…

        Its customary when asked a question and the person on the receiving end does not know – too ask for the information, now after being – given – that information, any qualms about it can be nit picked over. Obviously you have negated to take up on this time immemorial offer because it might bring in to question your perspectives.

        Here I’ll make it easy for you kid… Castro went to DC to do the Locke hand shake [won fare and square] and establish trade relations with its closest market. Do you know what happened – ????? – he was vilified for not genuflecting before his true masters. Yep that’s right…. he was offered to do whatever as long as things went back to the same as before as long as he was their man.

        Disheveled Marsupial…. that went against everything he stood for and fought for and declined the generous offer…. the rest is history…. but it could have been different….

      • Keep your panties on – my phone is juiced out. Hispaniola has been thru enough – communism included

    • Poor Rockefeller just lost a mate – here’s hoping he’s next, and before the year is out. It’s been an awesome year for watching the boomer world die

      • And as the boomers pass, they can die knowing that they have passed the baton to gen X, a generation exemplified by Scott Morrison, Matty Cormann, Corey Bernardi, Peter Dtton, Michealea Cash etc etc etc.

        Of course, Trump is a boomer.

    • Mining BoganMEMBER

      The museum of the revolution in Havana is both awesome and hilarious. That Fidel bloke was quite the fighter. Apparently.

      Did we know that Cuba’s infant mortality rate was lower and life expectancy was higher than the Americans? I saw their health system first hand when a girl with us got heat stroke. Quite good, except they didn’t approve of 30-year-olds being unmarried and childless. Very strong on that one.

      Cuba is cool despite it being fucked up. It’s not what people think it is.

      • So, you’re saying that MSM fed us propaganda? Well I never!… Those bastards! On what else have they been lying to us?! (/sarc)

  14. TailorTrashMEMBER

    So we take this chap back to Australia for trial at great cost and a focus for every IS operative in the world …..imagine the security cost…….lets hope “takes a while ” is either until he has an unfortunate accident ……or like …….never ……….http://ab.co/2fjfzDk

    • they say he has lot of intelligence he can trade. I doubt, but our government need to tell us something so they can spend hundreds of thousands of dollars in order to bring him back to Oz. will keep the media busy over the next few weeks – talk about nothing.

    • reading about this guy and our intelligence dealings really brings it home that we have neither the will nor the ability to do anything about anyone going overseas to fight for a declared enemy.

      so assume we successfully extradite the guy (after the Turks etc etc) what to do with him? put him in goulburn supermax? (http://www.abc.net.au/news/2016-10-10/junaid-thorne-describes-life-inside-goulburn-supermax/7917726)

      can you imagine how terrified he is of the threat of being extradited home to australia? ” Oh please not australia – anything but that!”

    • F*ck me… And they sell the research as providing new tools for those with disabilities? I wonder how much black money has been funneled through the Oxford side from GCHQ.

  15. It is very sad and concerning that are we are so trashy that we are forced to vote for trash.
    How fuckn lucky ARE WE ? Fur fucks sake !

  16. http://www.zerohedge.com/news/2016-11-26/china-unveils-new-capital-controls-freezing-ma-frenzy

    I had honestly thought this was going to be released in June/July based on what I had heard. Next is speculation in the retail futures markets. Not sure how this one will be tackled, I just hope they don’t over react and ban retail trading outright. This is possible as the issues in the commodities space can be tracked back to margin retail account numbers increasing and speculators rather than traders (ie the middlemen and end-users of commodities as it was up to 2014) moving from one future to a longer dated future…..

    • proofreadersMEMBER

      Capital controls coming soon to the great southern colony, Straya – all citizens will be required to buy a one BR “dogbox”?

    • hey OJ – do you hear anything about authorities closing more loops for the little guy trying to get funds out? I mean slowing number of small investors buying RE down under.

      • I know they are playing whack-a-mole with it, the latest being BitCoin. Gold has already been targeted (physical movements) and the recent drop in price will make it even more unattractive. All the old loopholes for an individual have a lot of checks and balances so again, unless they have an existing export business, it is hard to get cash out. I am in HK on Thursday and my wife will be meeting with her uncle to see how they are managing it now. Then off to Shanghai on the following Monday to get more insights from the other uncles.

      • proofreadersMEMBER

        Can someone let the Chinese Government know that good old ScoMo has reopened the floodgates for Chinese apartment buyers in Straya.

  17. http://www.zerohedge.com/news/2016-11-26/cia-taking-over-wikileaks-false-assange-emerges-gives-interview-after-dinner-varoufa

    Still no actual sign of Julian Assange. If you listen to the recording in the above it raises some questions. Why (in 2016) does this audio sound like it was recorded in a tin can at a busy train station? I thought Assange was holed up in the embassy in London. The room he has would be lined with books and stuff – which would be acoustically dead – so no echo. The article suggests that there were 3 people present including Varafoukis, and no selfies or iphone clips.

    Something about this whole Assange thing doesn’t add up. After the US election I would have thought there would be a video interview at least, but instead apparently Wikileaks is being flooded with requests for proof of life.

  18. Fuck work
    Economists believe in full employment.
    Americans think that work builds character.
    But what if jobs aren’t working anymore?


    “Work means everything to us Americans. For centuries – since, say, 1650 – we’ve believed that it builds character (punctuality, initiative, honesty, self-discipline, and so forth). We’ve also believed that the market in labour, where we go to find work, has been relatively efficient in allocating opportunities and incomes. And we’ve believed that, even if it sucks, a job gives meaning, purpose and structure to our everyday lives – at any rate, we’re pretty sure that it gets us out of bed, pays the bills, makes us feel responsible, and keeps us away from daytime TV.

    These beliefs are no longer plausible. In fact, they’ve become ridiculous, because there’s not enough work to go around, and what there is of it won’t pay the bills – unless of course you’ve landed a job as a drug dealer or a Wall Street banker, becoming a gangster either way.”

      • It’s a question I’ve proposed to a few older workmates: how do we provide for those that the current system fails?. I’m in a very WASPy profession, so their answer is that the system isn’t at fault, these people lack moral character. They can’t fathom the idea of a UBI, or that there aren’t jobs out there. The younger ones amongst us still have the protestant work ethic, but acknowledge that the world isn’t easy for a lot of people and that you can’t just go out, get a job and then buy a house these days.
        I can’t see the Trumps and Hansons solving the issues raised in the article. The problems are what the people they are appealing to are reacting against, but the solutions offered are not taking into account the world as it is and where it is heading. “Draining the swamp”, a phrase that I can’t get enough of, is a good start. If it does happen, what then? Their ideas are appealing in the same way that a drunk sincerely talks about getting their life together but is not ready to quit the drink. You know that they want it to work out, but the planning is not really taking in the reality of the situation.

    • The crisis is in a lot more than the economic situation. The author of this piece has a hold of part of the problem. The cultural identity of an entire generation has been taken away without replacing their normative institutions.


      I wonder if someone ( I’m looking at you Steve Bannon ) intends to radicalise the failedsons of these failedmoms and failed dads.

      Whoever can appeal best to the surplus to requirements useless people in all countries going forward will call the shots. They will have to offer them meaning in their lives and I don’t just mean end their economic marginality.

      • That was a nice read Nyleta, although in places it appears to sort-of oscillate between an apologism for the Trump situation and one for the neoliberalism who brought this on… Or I could be completely off the mark here.

        I’ll re-read it a little later again.

    • I’m sure ScumMo’s answer is something along the lines of “nothing we can do – it’s the implacable laws of supply-and-demand and the market forces”

      • proofreadersMEMBER

        And he might add, with Kelly O’Dwyer standing at his side: “It’s just Strayan teacher, nurse and firie IP owners trying to improve their rental returns – good on them!!!”.

      • Sad thing is I considered doing the same thing, AirBNB that is when I saw this Balmain warehouse on the market. Purely out of desperation to own some kind of asset..


        I know there was no way I could afford it, but divide it into 2 (it already is) and then lease the other half for AirBNB but the hassle of it – it could be a full time job almost checking folks in, cleaning it etc..

        I believe in New York they have banned Air BnB haven’t they? I understand why. I suspect the same will happen here as the howls get louder around unaffordable housing.

      • proofreadersMEMBER

        And if that wasn’t enough, ScoMo could dutifully remind renters (ie aspiring home owners) of those indisputable motherhood words of former Federal Treasurer, Joe Hockey, to the effect of “get yourself a high-paying job”?

  19. TailorTrashMEMBER

    At a time when our own press inserts paid for Chinese content in between the advertising and spruking for the continued sale of our homes to non citazens ….it is
    Interesting to revisit this as a view of the role of the press in a ” free ” society ………..I’m sure Joseph Kennedy used his money to massage the press where possible to help his son to the Whitehouse …..but this speech is worth listening to if you have never heard it in it entirety …………..I think even Kennedy would be shocked with what the press has become …this is well worth investing 10 mins of your weekend on if you have never heard it in full ……………….https://youtu.be/zdMbmdFOvTs

  20. November 4, 1994

    State of the United States Mr. Vidal spoke about his perspectives on the problems facing the United States, including crime and health care. He also talked about the growth of government and its continuing intrusions into people’s lives for various reasons. After his prepared remarks, he took questions from the audience.