Links 15 May 2018

Global Macro / Markets / Investing:








Unconventional Economist
Latest posts by Unconventional Economist (see all)


  1. Garner says Kiwibuild a hoax … Kiwiblog

    Duncan Garner writes:

    Seriously, what has Labour and its MPs been doing these last nine years? Eating their lunch?

    We’d been led to believe its flagship Kiwibuild idea was this amazing, smart and innovative housing policy. … read more via hyperlink above …
    NEW ZEALAND: There is nothing ‘affordable’ about Kiwibuild Housing Minister Twyford … Hugh Pavletich

    This morning with Newshub (note embedded video) …

    Housing Minister apologises for ‘confusion’ on price of KiwiBuild homes | Newshub … read more via hyperlink above …
    Prefab construction ‘no silver bullet’: Calls for Budget to address housing, infrastructure – Anne Gibson – NZ Herald

    Prefabrication or house-building factories are no “silver bullet” for the stretched residential construction sector, says an industry chief whose businesses use traditional techniques.

    Commenting on his expectations for Thursday’s Budget, Grant Porteous – managing director of Deacon Holdings which is the master franchise holder for more than 20 G.J. Gardner building franchises – said prefab housing was no quick solution.

    “The Government is being misled about prefab plants or modular housing being a silver bullet and dramatically reducing the time and cost of construction of new homes. That is giving false hopes and misleading many people. I can demonstrate quite the reverse is the truth. That is, modular housing costs more and takes more time to build from conception to the factory to completion on site,” he said.

    Housing Minister Phil Twyford has said he wants a “significant” number of KiwiBuild houses to be prefabricated. … read more via hyperlink above …

    • Dont that mob look like a bunch of elite athletes
      “On the back of turfing out illiterate politicians who dont know what nation they belong to, looks like some are arguing we should allow illiterate athletes who may not understand their personal obligation, to the entry requirment for this nation:
      Games officials fear athletes heading to the Gold Coast in 2018 may not be able to enter the country because of tough visa restrictions.
      Every athlete now has to fill in an online PDF,”
      Some are worried the athletes some will not have the capacity to do so. No internet nor laptops, and “to be fair to some of them, some of them are not very literate,”

    • And the councillor complied, like any good little councillor would do if it cared about their life and the life of their family… lest they rouse the wrath of Emperor Xi.

      So, we’re no longer the 51st state of US, we’re an overseas Chinese province now… Sorry – it seems I didn’t get the memo.

    • I wonder if its chinee money in that wave pool development up there
      another great amazing investment turned into nothing.
      Story next monday.

    • Mining BoganMEMBER

      I’ve been considering getting a shirt with a Taiwanese flag on it to see what sort of reaction It gets from the foreign kids at the uni.

      There’s different independence flags though. Anyone know which one creates the most outrage?

      • Contrary to popular belief, chinese shivs are as long as caucasian ones.

        You might want your t-shirt in “kevlar” … just sayin’!

  2. Publicists are falling on hard times: Sara Huegill — the publicist wife of Olympian Geoff Huegill — was caught stealing a pair of $2500 leather pants from a high-end fashion boutique in Byron Bay. Huegill was arrested and taken to Byron Bay police station, where she declined to be formally interviewed and was fingerprinted before being charged with shoplifting.
    “Sara deeply regrets the incident and apologises unreservedly,” It’s not the first time Huegill has fallen foul of the law.
    She was caught caught snorting cocaine at Randwick races and charged with possession.
    WW nothing to see here, cocaine its just one step up from MJ.
    I wonder who she publicises for??? Here we go!
    She used to work for:Roxy Elise Davis-Jacenko[1] (born 8 June 1978[2]) is an Australian businesswoman and media personality, socialite and author, best known for her appearance on the 3rd season of The Celebrity Apprentice Australia.[3] Her husband is former investment banker Oliver Curtis, who was convicted for insider trading in 2016, and was released in 2017.[4][5] [6]

    • Ah – the hard risks of a socialite life! Falling from grace with a rather hard *Thud!* once your ass is no longer in demand.

      Shelf life and use-by-date seem to be concepts enforced in spades when we’re talking socialites.

      No sympathy here, not a flying f* to be given.

  3. An Edited /WW Edited extract from Bullsh1t Jobs — A Theory, by David Graeber, (Allen Lane) $49.99, out yesterday>

    Everyone is familiar with people who don’t seem, to do much of anything: publishers, most journos, HR ­consultants, communications co-ordinators, PR researchers, financial strategists, corporate lawyers, or middle managers who spend their time staffing committees that discuss the problem of unnecessary committees. As these jobs really are ­useless, and those who hold them know it?
    An article on Bullsh1t Jobs produced an explosion of response:
    Within weeks it had been translated into at least a dozen languages and was reprinted in newspapers from Switzerland to Australia.
    The online version on Strike! got more than a million hits and crashed the site. A response from a punter in Canberra “Wow! Nail on the head! I am a corporate lawyer (tax litigator, to be ­specific). I contribute nothing to this world and am utterly miserable all of the time.
    I don’t like it when ­people have the nerve to say,‘Why do it, then?’ because it is so clearly not that simple. It happens to be the only way right now for me to contribute to the [top] 1 %in such a ­significant way so as to reward me with a house in ­Sydney to raise my future kids …”
    None answered the question of how many people really felt that way about their jobs — but before long, we found stats. Polling agency YouGov took it upon itself to test the hypothesis and conducted a poll of Britons :Does your job “make a meaningful ­contribution to the world”?
    Astonishingly, 37% said it didn’t, 50% said it did, and 13%were uncertain).
    40% of Dutch workers reported that their jobs had no good reason to exist.
    “bullsh1t jobs” are made up of tasks that the person doing that job considers to be pointless, unnecessary or even pernicious.
    Jobs that, were they to disappear, would make no difference ­whatsoever.
    Above all, they’re jobs that the holders themselves feel shouldn’t exist.
    My research has revealed 5 basic types of bullsh1t jobs:
    flunkies, goons, duct tapers, box tickers and taskmasters.

    Gunna wrote probably the best summary of that for Straya: I dont have the MB link.?
    But those guys in the land of the Dyke are short of the Strayan no where probably 70% of jobs are superfluous and not giving positive feedback to the employees.
    So as local punters over the last short period have taken solace in the rise of property values to hide their social shortcoming phobias, as the property equation goes negative what will happen to the mental state of punters.
    That punter up here who said yesterday it was the worst he has seen if for 40 years.
    How about this >> 6 out of 10 working-age Australians have never worked through a recession.
    “people who’d never manufactured anything or seen anything manufactured, who did not know what things were made of or how a company worked.
    People who knew nothing of the intricacies or the risks of building a business or running a factory but who nonetheless imagined that they knew everything worth knowing”.
    For most, the relationship between economic growth and lifestyle seems remote; balancing the budget someone else’s problem. Worse, the expansion of higher education has produced a cohort of graduates hostile to the capitalist order.
    H U G E.

      • not much point in readin the book, take what is written as verbatum
        So, if 40% of people think they are wasting their time in their job, and that the only reason to keep a job is to repay a mortgage and now the mortgage equation is negative, for the foreseeable future, it wont be long before the punters go into a mental crisis. More drugs tatoos, ranting about a ubi, law and order will go out the window there will be caos.
        AND along comes AI to mop up the employment roles so there is no turning back
        so WTF is everyone gunna do?
        As i explained the other day the real economy in this joint is at the bottom of the harbour and those punters do not support the 90% of punters who are mixed up in this service industry thingy.
        Huge changes coming and those with debt are gunna have to suck it up big time.
        The ruling class has figured out that a happy and productive population with free time on their hands is danger and that work is a moral value in itself, and that anyone not willing to submit themselves to some kind of intense work discipline for most of their waking hours deserves nothing is convenient for them.
        So if 1% of the population controls 80% of the disposable wealth, what we call ‘the market’ reflects the needs and opinion of the 1%. John Howard started it here. Turnball is a sibling.
        Remember this sign “Work Will Make You Free”, where was that again?????

      • What is boosting AI is the ever increasing massive database it has to play with,
        Software today is so fast that sifting through a data base , in machine time, is not really a hold up.
        Not a hold up at all to a human.
        A break through Tesla achieved with the launch of the falcon heavy and the car to mars was the onboard software using off the shelf C++ with 2 systems of back up, went through the Van Allen radiations belt, and retained full ability.
        At maybe 1 10 thousandth the cost of NASA software.

        So as the man says, once you get a desired result using any means, then you can reverse engineer to find a better path.
        (Lewis& Clarke)
        Now we have full time surveillance from space of near all human activity and quantum physics to store the info, anything could happen.???

  4. PS remember the square root!
    when the old calculators would only add subtract multiply or divide.
    you soon became pretty quick at getting a square root by trial and error.
    Today its just like uber, you just press the key.
    Most of the fun is missing

  5. PS remember the square root! when the old calculators would only add subtract multiply or divide.
    you soon became pretty quick at getting a square root by trial and error. Today its just like uber, you just press the key.