Links 11 September 2017

Global Macro / Markets / Investing:






  1. Why the hell is Britain wanting a trade deal with India?

    They already did that with the East India Company.

    Jokes aside, Britain should do a free trade agreement with AU, NZ, Switzerland, Norway, Singapore, Canada, Japan, South Korea.

    Ironically, because Japan is anti-immigration, Japan will not demand that Britain let in a tsunami of Japanese workers in exchange for letting in British goods.


    Simon is animated by the perpetual struggle between capital and labour and believes that, after the ravages of Ronald Reagan, Margaret Thatcher and globalisation, and the anti-establishment anger that produced Donald Trump and Brexit, the argument for unions and collective bargaining is as vital as ever. Which brought him to The Deuce, his ambitious new HBO series charting the rise of the porn industry in 1970s New York.

    “What I stumbled into seemed to be a ready-made critique of market capitalism, and what happens when labour has no collective voice, and that seemed to be apt for this moment because I think a lot of the lessons of the 20th century are going to have to be learned all over again thanks to Reagan and Thatcher and all the neoliberal and libertarian argument that has come after,” says Simon, 57, unfailingly intense as he leans forward on a sofa.

    Could have been written by a bloke I know called Skippy 😀 – not that I disagree at all..

  3. The Guardian really is squealing like a stuck pig, brexit will happen, Trump got democratically elected, Brexit won, the EU faceless bureaucrats lost and the people have representative government. The shit that still comes from the guardian and the Washington Post is instructive as to the anti democratic authoritarian nature of these establishment publications.

    • The Guardian really is squealing like a stuck pig, brexit will happen, Trump got democratically elected, Brexit won, the EU faceless bureaucrats lost and the people have representative government.

      Therefore criticism of those things should not be allowed ? What’s your point ?

  4. Rimfire Constructions misfires:: Subbies owed 4 milliion plus::Chinese back out
    Brisbane/ gold coast based Rimfire last year formed a joint venture with China Railway Construction Group, the world’s third-largest construction company, to develop residential and commercial developments. It had sought ¬financial support from its Chinese partners, which had not been forthcoming.
    It has been a tough 6 months for Queensland’s troubled building sector, with more than 30 insolvencies and subcontractors losing an estimated $150 million.
    WW forecasts for failures for the full year are through the roof or (the floor in reality)

  5. Surfing update:
    In business class we were taught to “Find yourself a good tree!” based on the biblical business model from the philosophers of old, say that punter: Luke, who would describe the essence as “Luke6:43-44, No good tree bears bad fruit, nor does a bad tree bear good fruit. Each tree is recognised by its own fruit. NB:::you cant pick figs from thorn bushes, nor grapes from briers”/ End of lesson.
    So from that teaching we get the phrase “Strayed from its roots” which means the figs and grapes are no more from the now dodgy trees.
    In more modern times: Some erstwhile financial scribes (AFR) are saying these Strayan surf corporations “have strayed from their roots”, or,, are they just rooted (but camouflaged, to some).
    The best definition around of rooted, is to be utterly exhausted -depleted of energy, or when an object is damaged or appears to be functioning incorrectly.
    Looking at companies such as billabong, surf stitch, rip curl, etc and criminal management aside, these companies look to be utterly exhausted , depleted of energy or damaged,, or are functioning incorrectly. So I say they comply with the definition of rooted, thus, they are rooted.
    Surfstitch has 2 class actions pending wherein the proficiency of its management and advisors will be analysed for criminal activities, amongst other KPI’s, to determine its level of rootedness.
    Was money the root of all this rootedness??
    I say yes, but just who is in the money we are yet to find out.
    Who isn’t in the money, are the aggrieved, ripped- off, deep underwater shareholders.
    As usual. WW

  6. “prices had fallen about 10 per cent over the past six months, the founder of Meriton Group told The Australian. “The falling prices will have a big impact on the economy,” said Mr Triguboff, who called on the federal and state governments…”
    What a load of rentseeking nonsense.
    Brisbane unit asking prices up 2.5% yoy
    Canberra units up 6.8% yoy
    Sydney units up 6.5% yoy
    Melbourne units up 12.7% yoy

  7. NEW ZEALAND: Getting more housing, making it more affordable: what’s the plan? – Anne Gibson – NZ Herald

    Housing has been a key issue as the election draws near and the main political parties’ policies on development, first-home ownership, tax, foreign buyers and increasing supply in high-demand areas such as Auckland differ widely.

    From the Labour Party’s 100,000-residence national KiwiBuild scheme to National’s plan to build 34,000 new Auckland places, and NZ First’s proposed ban on foreign buyers, housing is an area that has galvanised the parties.

    Significant differences divide them. Here is a summary of some policy aspects. … read more via hyperlink above …
    Ardern v English: Leaders’ house price claims face credibility claims | Rob Stock |
    Waipa mayor: Affordable housing problem remains unless attitudes change |

    … extract …

    … “Doing the math, the base price for farmland sold originally for $600,000 to $70,000 a hectare, divide that with a low cluster development of 10 houses, take into account up-front costings of $100,000, I fail to understand why we still end up with sections on the market for $300,000.” … read more via hyperlink above …

    Mate o mine just returned from the states and his truck just cleared customs.
    It is the F250 Tri-Flex Truck. It runs on either hydrogen, gasoline or LPG.
    But it had to go the local dealer to have the radio fixed
    The techie there explained that the radio was voice activated and was linked to radio Margaretville by satellite.
    ‘Nelson,’ the technician said to the radio. The radio replied, ‘Ricky or Willie?’
    ‘Willie!’ he continued and ‘On The Road Again’ came from the speakers.
    Then he said, ‘Ray Charles!’, and in an instant,’ Georgia On My Mind’ replaced Willie Nelson.
    He drove away happy, and for the next few days, every time he said ‘Beatles,’ he’d get one of their awesome songs.
    Yesterday, some guy ran a red light and nearly creamed his new truck, but he braked in time to avoid him.
    He yelled “F*****g Idiot!”
    Immediately, the radio responded with, “Ladies and gentlemen, and now an address from the Leader of the Opposition, Bill Shorten.”
    And apparently, that is how the radio is staying. Good Truck

  9. The Coal Party, aka the National Party, wants all subsidies removed from Renewable Energy.
    “All the subsidies have been removed from farming.” they claim, so now it’s renewbles turn.
    What about Coal and Gas? Their susidies are intact and at least 3 time higher than Renewables.
    The Coal Party may get a severe electoral shock . Many Agriculturists and Farmers have invested heavily in renewbles.
    They, along with the rest of us, are watching their skyrocketing power bills.