Links 18 May 2017

Global Macro / Markets / Investing:








  1. haroldusMEMBER

    Hey Gavin (or anyone else who knows cars), talking about cars do you know anything about ABS/TCU units. I was quoted from BMW dealer a replacement $4K ex Deutschland (they don’t repair!).

    Can a local mechanic do something like that? LIke these guys (alexandria service centre 78 Mitchell Rd, Alexandria NSW 2015).

    It’s a 330i 2002, which my brother has just about convinced me to keep instead of trade for a Hyundai i30.


      Get your own OBII diagnostic reader to confirm the issue. Avoid the dealers. With the savings, you’ll be able to afford a Snap-On ‘starter’ kit or a Total Tools full roller cabinet of auto tools. Then, when the inevitable ‘something ‘else’ let’s go, you’ll be RTG. Find a Haynes manual ( or similar) and DIY.

      Repairs are not as difficult as you might be thinking!

    • Agree OBD & DIY if possible. There are specialists with the right gear that mechanics can refer you to, but will charge $150 just to put it on the counter – no guarantees of being able to fix it.

      Just be careful with compatibility of parts. It might look identical, but unless it has the exact same part number off the exact same model it may not work when plugged in…….. Been caught there myself.

      • haroldusMEMBER

        fuckin BMW charged me 90 bucks to “diagnose” it

        Client declined repair

      • Not much cheaper for a general mechanic here! Even if they’ve diagnosed it for you, you’ll probably need one of the on board diagnostics to clear the code when fixed. Or you may be spending another $90 getting it cleared…….? IIRC their OBD tool costs ~ $5k.

        Presumably your car would be OBD2? – Check though. You’ll need a compatible one of these generics –

        DIY……. Plug it in & look up code output to find defective part – either fix it yourself if simple, outsource it if it’s possible, or head to the wreckers…….. replace part & clear codes. It can be a PITA & a generic mechanic should be able to help you fill in the blanks.

        If your ABS light’s on you won’t get past rego!

    • haroldusMEMBER

      Our non-frontline bowling depth’s pretty good, isn’t it?
      Short format batting OK. Second string batters in shield OK too?

      • Our second string ODI side was very embarrassed by South Africa last year.
        If it was full strength England vs a weak Australia they might need to introduce a mercy rule.
        I’d have to watch Nathan Astle destroy the England bowling to tell myself that all is right in the world.
        (The finest striking of the ball ever caught on film. Not even Lara made it look this easy. Made even more enjoyable by the look on the England player’s faces.)

    • haroldusMEMBER

      Isn’t my 30 year old son doing well, said the Australian Taxation Office Deputy Commissioner.

      Anyway, back to work, I’m really under the pump he said.


    … The Irish authorities have not learnt a thing near 10 years on from 2007 housing crash … that put their Banks to the wall …

    This country still needs to get its houses in order ten years after the financial crisis began … The Irish Sun

    … extract …

    … However the clamour of young people who are desperate to buy – and I being one of them – is certainly being heeded by the Government. They have responded by implementing policies which are aimed at helping people circumvent the Central Bank’s restrictions.

    This is extremely irresponsible as it fails to address the real failures that exist in the property market and instead will have the effect of ensuring that young people once again get trapped in a borrowing cycle which will ultimately blow up in their faces.

    The problem in the market is not finance, it is cost. House prices are artificially high and the scale of borrowing required for a modest family home is completely out of kilter with the rest of Europe.

    If the Government is to intervene, therefore, it should not be on the lending side, but rather to address the glut in the system which is preventing enough housing becoming available to potential buyers.

    If this is not grasped and dealt with by the Government we will end up seeing more and more Irish citizens enslaved to mortgages.

    It does not take a rocket scientist to understand that if more houses come on stream, the competition for these houses will diminish (HP correction – increase) and prices will drop to more appropriate levels.

    One slight complicating factor is that the most powerful lobby in the State, the construction industry. … read more via hyperlink above …

    … What are the Irish authorities learning from New Zealand ? …

    Performance Urban Planning

    … Check out New Zealand Labour Party housing policies (General Election in 4 months … 23 September 2017) …