Links 15 November 2017

Global Macro / Markets / Investing:








  1. France looking to reduce the age of consent? I was thinking about pedophiles and maybe it would be a good idea to legalise photos of naked kids. I am not into that sort of thing myself but I think the harm is, you know, physical penetration or verbal abuse.

    If people have kids, they see them naked anyway.

  2. A U.S. Home Ownership Turn Around? – Wendell Cox – :: Fox&Hounds

    Census Bureau reports that home ownership in the United States rose to 63.9 percent in the third quarter of 2017. This continues a rising trend since the second quarter of 2016, when home ownership had dropped to 62.9. This equaled the previous low of 51 years before (1965), just a year after annual data reporting began. Home ownership peaked at 69.2 percent during the housing bubble and had been generally declining since late 2006 (Figure). … read more via hyperlink above

    A US Home Ownership Turn Around? … Wendell Cox … New Geography

  3. Western progressives continue to romanticise communism … Liam Hehir … Fairfax NZ

    OPINION: Ever seen an ordinary young person in a T-shirt bearing the visage of Benito Mussolini? Ever dined at a restaurant bedecked with Third Reich propaganda? Ever listened to a new recording of the Horst Wessel song by a popular contemporary folk singer?

    It would be unthinkable for the National Party leader to quote Alfred Rosenberg, ideological architect of National Socialism. No prime minister would ever declare a sympathetic treatment of Reinhard Heydrich to be his or her favourite movie. No credible political figure would argue that the problem with fascism is that it has never been tried properly.

    Yet on the centenary of The October Revolution – the coup d’etat that saw the creation of the Soviet Union – communism retains a grasp on the imaginations of Western progressives. … read more via hyperlink above …

    Hehir on romanticising communism … Kiwiblog

    • Commenter “Verum” seems to have the most appropriate response.

      ‘Progressives romanticise communism’. You’ve got to be kidding, it is right wing comment makers that spend so much time talking of comrades and communism. Progressives actually talk of social democracy – a political systems that boasts some of the worlds best economies, least social problems and high rates of longevity. Look at Denmark, Finland, Netherlands, Canada, Sweden, Norway and Ireland etc.

  4. Dear Sir/ Madam, do you think Strayan banks are a law unto themselves??

    Well then, You’re a Nazi!!

    No, no, here’s Mike Smith:

    “…when you want to get mob interest, you turn on the banks. Hitler did it”

    HITLER did it!!

    But wait! There’s a whole lot more stupid in that article. Its chock full of kleptocratic numptiness.

    Straya… Behold the oligarchic clique bleeding you dry.

    Bow down.

  5. Who was telling me how good subbies have it on the GC. Read on: A subcontractor, on the brink of financial ruin after being caught up in 4 construction company collapses in 12 months, has no regrets after threatening to harm a key executive of comm. games athletes village builder Grocon. The subbie said Grocon owed him more than $200,000, that he’d had to put his house on the market to pay his expenses and that his staff faced uncertain futures.
    “The government needs to do something about subcontractor payments or someone who is very capable like myself will take direct action against the scum who don’t pay their bills and destroy their subbies lives!,” The man, who has been in business for 30 years, is among scores of subcontractors who claim they are owed millions of dollars between them for work completed at the Parklands project. “What if I was a nut and I did have a firearm licence? I could be on his doorstep before he knew it,” he said.
    And best news of all the local ,mayor tom tate has quit??? Indefinitely??.

      • The Subbie or the x mayor.
        How about this for the mayor: Griffith University political expert Dr Paul Williams said trust in local government had taken “a blow” after a Crime and Corruption Commission (CCC) report found councils were “on the nose” and a “hotbed for perceived corruption”. The CCC will not pursue breaches by Ipswich Councillor Paul Tully, Gold Coast Mayor Tom Tate and Moreton Bay Mayor Allan Sutherland because the 12-month time limit on prosecutions had passed.(most conveniently)
        But Dr Williams said several high-profile councillors could lose their seats at the next council elections. “Given they have been dragged through this inquiry and their name has come up in less than auspicious circumstances would mean they would probably suffer a swing away from them anyway,”

    • truthisfashionable

      Whilst not entirely relevant to the GC matter.

      It was reported yesterday that Amazon will be doing 15 day payment terms to their suppliers. One of the suppliers was quoted as saying that Harvey Norman we’re pushing 35-40days plus.

      I think that could be the game changer, and hopefully it filters across into all parts of the economy.

      • As you know, a fair bit of business in the service sector is carried out on a back to back basis.
        when a transaction fails to complete the whole chain stops. (almost overnight)
        some say the crash will take time to unravel,
        I say less than 30 days.
        That melb night club owner who shot himself cos his “empire” collapsed is an example.

    • Queensland, like most (all?) States has security of payment legislation that can sort out payment issues for subbies relatively quickly and cheaply I’ve heard that some subbies won’t use this because head contractors don’t like it and won’t give further contracts to people who use this to get paid. But really, who wants more work from people who won’t pay them?

      • well the system has failed cos grocon is a govt (agent) contractor.
        My call is the money is not in the system, remember “Can Do” told us a coupla years ago the govt was diving into (wylie e coyte like) a grand canyon of debt, since then things are considerably worse. Ask Flawse.
        Even a half sharp pencil in the hands of a half sharp auditor would probably find the joint is trading insolvent.

  6. Just going through that article from matt barrie yesterday and the outcome he alludes to for the economy is dire.
    Certainly it is within his predictions that the debt will cause a major economic crash, which will also entangle his ASX listed company Freelancer. So what is his path forward for that company, or does he intend to sit on his hands and take the dive along with shareholder investments.
    He has much explaining to do.