Weekend Links, 3-4 November, 2018

Sheep Country, Burra, 1950, Douglas Dundas, Art Gallery of NSW

 

Markets and Macro

Asia

Europe

Americas

…Terra Incognita…

…and furthermore…

 

 

Comments

  1. Its simply inevitable that those Indonesians forests and mangroves will be torn down as long as the Indonesian population is expanding. They need to get into sub-replacement fertility rates.

    • They’re less than 10 years off -births peaked around 2010, so it’s pretty academic at this point. (projected net reproduction ratio below 1.0 2025-2030).
      Healthy outflow of migrants, too. In any case, their population will be shrinking decades before Australia’s.

  2. when will we begin to wake up …….

    and by the way …. how do you reconcile ‘cultural appropriation’ with ‘multiculturalism’ …….. if I buy a sombrero in Mexico sold by a Mexican, am I ‘authorised’ to wear the hat at a ‘Mexican meal night’ when I get back to Australia

    Cultural appropriation :

    https://thehill.com/opinion/civil-rights/413813-cultural-appropriation-turns-halloween-into-a-nightmare?

    utm_source=CapX+briefing&utm_campaign=83f49d5c50-EMAIL_CAMPAIGN_2017_07_17_COPY_02&utm_medium=email&utm_term=0_b5017135a0-83f49d5c50-241882893

    • I did think of this on the night as all the kids full of excitement came to the door. It’s always fantastic, and one of only time you see the kids in our street. I’m pretty sure none of the parents thought of offence and the kids loved the night. No one even mentioned the sugar. Yet now, a very thin slice of society, on almost every issue, will bring up the noise to ruin fun for the kids. We’re a seriously sick society now as this division is preached by the crazies and it get headline status.

      • ++ afund ……. and I’d be really interested to hear from any of the ‘progressives’ here at MB as to how this is rationalised with our officially imposed ‘multiculturalism’ …… am I guilty of ‘cultural appropriation’ when I wear a sarong???

        this is currently a bigger deal in the US but is well on its way here like all the other features of metastasizing identitarian politics ….

      • Another name for’cultural appropriation” is progress, humans have been doing it since … forever … Since the first caveman went to the next valley & thought “ochra body smears, cool”. Sure you should acknowledge source, inspiration, pay for cultural knowledge you sell in a product etc & not use it to take the piss. Else anyone calling this out can get stuffed!

    • I’m off to the US next Thursday for two weeks, so I’ll find out first hand from my colleagues what the general feeling is there. It appears to me though, the US is in crisis, and we in Oz seem to take to this and make it our own, at least in the Uni’s I know of here.

      • would be very interested to get your feedback afund …….. the timing of your trip will straddle the mid-term results. I am assuming you have been keeping yourself informed about the pre-election craziness. IMHO I think it is becoming possible for the GOP to take the House as well as retain the Senate ……. whether that will result in the “blood in the streets’ reaction some have predicted remains to be seen, but I think a lot of the ‘sound and fury’ is MSM media and activist crazies ..

        It’s going to depend a lot on what part of the country you’re in …… my base there is Alabama/Pensacola. They tend to be more ‘real’ and down to earth in the South, though obviously the Dems and their reliance on the black vote is a factor given their efforts and emphasis on race politics ….

        travel safe afund …

      • I’ll be in California next week, so asking people in California what they think of Trump is like spitting in their face. Damn die hard liberals.

      • @Gavin….that’s for sure. What gets me is there were so many propositions that they will vote against and it’s so divided; now it’s way worse. They are dead against paying taxes, yet want all the benefits. All the city workers in our last area and those not in tech jobs had to go to Tijuana for medical/dental, fix their cars, and one family drove a 75 mile round trip to shop. At Safeways with coupons (on the receipt) we could get a weeks worth of food for zip, buy Aussie wine cheaper than Oz and more. I used to love living there though..not sure I could do it now, but I’m going to check it out. We found that we couldn’t watch TV and stayed away from anything political which was hard. My wife didn’t work there and had more trouble than me navigating the politics. Kids school functions were the worst.

      • @ afund … I’m guessing you’re heading to the west coast and that your business requires that, if so, my sympathies. Rather than not relocate to US, my suggestion would be to consider other parts of the country, basically red or at least purple states…

        @ Gavin – TDS (Trump derangement syndrome) is of course a real issue at this time. As with afund, if you have to be in LA, San Fran, San Diego type areas, my sympathies …

        Being a [somewhat older] white man who has watched the identitarian cancer develop from its [roughly] late 60s origins (in my own defence I think I was a bit precocious in developing political awareness, I’m about to turn 65 – unsettling thought), it is safe to assume the north American nonsense ( & don’t forget how out of control things are in Canada, now also so well entrenched in the UK) – will be a factor of daily life in Oz very soon, even more than it is already.

        The US is magnificent for being a place where you can find a place that supports literally any lifestyle choice you might have, and it is affordable ……… as for those so inclined, you can of course protect yourself there much more readily than you can in Oz ….

        Whatever social discord you perceive in the US will, or already is, coming to Oz …….

      • @david..I’ve lived on the east and west, and I loved living in San Diego as I surf and cycle, but also the work was great. I used to go to the bay area for various contracts, and it’s definitely crazy up there, but I was more disgusted at the way the industry see the general public …they talk about “economic units of value”. I’m over that view of humanity and all it represents. So out of touch with the rest of humanity is all I saw.

      • @afund …. you’re in a different environment than that which I worked in. IT appears to have its own rules, which in some quarters has led to the observation that the single biggest threat to freedom of speech is GOOGLE. I couldn’t work in the sort of environment that I have read about but then I am from a previous generation when a bit of give and take, sense of humour etc was still evident (even if already being hunted out by the feminist push).

        Thing is I spent most of my time self employed, so much of what is hardest for you and yours relates to a ‘political’ environment that I was able to dodge …….. feel genuinely sorry for you younger blokes …..

        The world is shifting around us. Your earlier days in San Diego (yes, great beaches etc) was back then, not now. When I went to San Fran, yes some pan handlers but literally sh+ting and shooting up in broad daylight in the middle of downtown ….. pleeeze – the ‘progressive plague’ for want of a better explanation, rots from within any city / society where it predominates

        I’m not vested in the future other than for myself and my partner, so a limited time frame. For those who have children/grandchildren there can clearly be different considerations –

        My advice for what it is worth …. look past the noise, think a bit outside the box, be prepared to take a risk and plan for a future for your kids that will be very different from your own past. Assume nothing, prepare for the worst and [hopefully] be pleasantly surprised …

        @ Max – yes, the South is rising, and has by some measures already has ….

    • definitely mz ……. confirmed my suspicions when I went into NAB and asked about withdrawing $10k + from account – have to provide a reason

      and if I take 10 and come back for another 10 next day they’ll do it (with a reason for their report) but no more than that ….

      • Is the $10k thing new? I was in Westpac Whittlesea branch and saw the same thing? Bloke wanted more than $10k told no, he has to give them 24 hours notice. I thought is that new?

      • yes Gavin it’s new – after the last budget. Only bank here I deal with is NAB so don’t know the other iterations played by other banks

        This is the next step of the forced move to a ‘cashless’ society ……… we let this be done to us we deserve what we get ..

        Banks in the US are further down the path … they’ve had cash withdrawal restrictions for years. Varies with the bank and the state. For them I think it has more to do with minimising the costs associated with handling cash – some banks will charge you a fee if you use the teller to withdraw cash rather than the ATM outside.

        At least in the US there are a multitude of local banks in addition to the ‘national’ ones and they all offer safe deposit boxes at very reasonable fees, so keeping substantial amounts of cash secured is a practical option. Also I don’t see a ‘cashless’ society being so readily imposed there …….. significant segments of the population don’t even have bank accounts….

      • Its not a new rule. Its AML laws. Been like that for years, and some branches simply dont hold that much cash these days. Pays to go into a major branch. Had the same thing happen to me back in 2008 when I wanted to buy gold and the teller had to go check how much they had before she could say yes or no.

      • Is the $10k thing new? I was in Westpac Whittlesea branch and saw the same thing? Bloke wanted more than $10k told no, he has to give them 24 hours notice. I thought is that new?

        You’ve had to give most branches prior warning to pull out more than a few grand at a time in cash for at least ten years.

      • Ok, thanks for clarifying. I’ve been able to transfer much larger amounts via online banking simply by calling to increase limits etc.. I’ve never really had to take more than $10K cash out of a bank before. So I wasn’t aware of it.

      • At CBA I tried to get $7K for a cash purchase and all they could give me was $5k and they told me I could get the other $2k from an ATM.

      • Ok, thanks for clarifying. I’ve been able to transfer much larger amounts via online banking simply by calling to increase limits etc.. I’ve never really had to take more than $10K cash out of a bank before. So I wasn’t aware of it.

        Yeah, it’s just cash. Inter-bank transfers are fine (though $10k is an AML limit that’s been around since $10k was a lot).

        Only found out myself around 2011 when I went to pull out $7k or so to buy a bike (on a bit of an impulse) and had to visit a few branches to scrape it all together.

        I expect it’s as much about not keeping a lot of cash accessible on premises to deter theft, as anything else.

      • Banks must report withdrawals of $10k upward to the “Authorities”, criminal oversight types.
        When the 2008 crash happened I took $40k out after giving 2 day’s notice.
        Was taken to a room in the bank and was in the middle of the bank teller counting out when, suddenly 3-5 men burst intaking very loudly, I was sitting faced away from the door and did not react or turn around. They kept it up for a minute or two and left.
        The teller was apologetic for the intrusion ,but offered no explanation.

    • I wasn’t happy with my bank, so asked for my $280k in cash.I was hustled to a room inside and was advised that a bank cheque was ‘more appropriate’.I replied ” Nah, will take in cash, cheers” ..They said it would take 3 days, as they had to hire a security guard.
      I went in , in my daggy shorts, sandals with my fifo backpack, waited for the counting , stuffed it in my backpack and walked out.God it felt good…I really dislike banks..

      • know exactly what you mean Donna – my experience in the US for large amount cash withdrawal was not other than their internal procedures and the need to book the unusual cash delivery for the branch: had to be done in 2 transactions and each time I had to sign a waiver absolving the bank from any liability once the cash was handed over , to all of the above:

        the NAB teller asserted that the rules were now different as a result of new regulations because of the budget. Personally, all my large amount transfers were done electronically until business circumstances in the US brought me up close with cash transaction limits there ……

        as to the rules here, Timmeh and others – while some might say it was always on the books here, enforcement – really???? Think of all those real estate transactions and other AML ‘laws’ that are not enforced at all. I stand by my comment – our ‘leaders’ (read ‘controllers’ in waiting) are moving systematically to criminalise anyone who wishes to live in a ‘cash only’ environment. For those of you who are too young to remember what it is like to collect every fortnight your little brown envelope with the folding readies – and a few coins – you have missed an essential element of understanding reward for effort. My sympathies …..

      • davidj, um, have you not been reading the articles on the RE tranch of AML?? The boys here have covered it extensively. They were supposed to impliment in 2006 for RE, accountants and lawyers yet the various lobby groups have managed to get it blocked. The 10K cash thing has been in law since early 2000’s iirc.

      • @ Timmeh – Suspect I’ve been reading MB (and noting it all) longer than yourself – at least if you’ve used the same handle –
        seems you missed my point …..

      • Donna, I really think pulling cash out of a bank is a bit of a slap in the face to them. Electronic moving of money no-one sees. Pulling a big wad of notes out is a reminder to them that it is YOUR money, not theirs. Like how people overspend these days when using tap’n’go because they don’t notice the wad of cash in their pocket growing thinner.

    • The more I see her stuff I think she’s deliberately suckering traffic. She can’t be _that_ tone deaf can she?

      • Maybe her target is mindless students NPCing it……. Safety groupthink blanket deep into the future……

    • Hells Teeth – housing just scraped in and the wholesale biodiversity collapse not at all. Where do you even start with someone like that.

      What big Australia really means to people is the wholesale destruction of our environment and amenity to line developers pockets.

      • Spoke to my Greens state candidate the other day about mass migration numbers and environment collapse, she was comfortable with the current settings.
        Really sad.

  3. Regarding the piece by Michael Keating (Privatisation: When does it work, and when doesn’t it work?) is interesting but somewhat misses the mark in my opinion. The problem with neoliberalism is it is interwoven with politics and conflates several problems (political interference, bureaucratic thinking, state monopolies) with ownership. Then it uses these reasons as an excuse to hand over an asset to the private sector using the very mechanism it decries – the Government. Done really poorly you end up selling a publicly created asset below its proper valuation, under control of a monopoly organisation. Done well, you still end up with private sector that maintains or improves its competitiveness but maybe you get a decent one off cash value out of it. Either way is bad because it ends up in the hands of a small number of owners that will do whatever they want against the needs of the public.

    A better model is to
    a) ensuring there are no state monopolies; socialism allowed some private industries but had monopolies on others; communist ones had monopolies on everything. Monopolies are bad but there is no reason why you couldn’t have state run organisations/institutes right up against the private market organisations, just as long as you ensure there is protectionism of a state run institution. A state run bank might provide basic day to day services and probably by de facto would re-institute the Glass-Steagall act – private operators would go to the more lucrative and risky stock market game, the state run bank would handle basic utility banking

    b) If privatisation of some asset is to happen, it should happen by share issuance to natural citizens (along with whatever tax burden is involved) rather than an ipo – citizens could then sell their share to private operators if they wanted; that would allow citizens to vote on the direction of the asset (bypassing the current problem of politicians determining the fate of an asset); it would also respect the fact that it was tax payers the created the asset in the first place as it returns the asset to citizens; it would also enable poor people to actually have some control rather than just those who can afford to purchase shares in an ipo and importantly, give the public an opportunity and chance to develop some understanding of these things. Telstra could have gone a much better way and this would also solve the problems with the ABC where some people feel the ABC is massively biased, others thinking it’s the best thing since sliced bread could purchase for it. The constant interference by politicians along the way would also be eliminated.

    • ErmingtonPlumbingMEMBER

      Your suggested model was spectacular failure when applied in Russia post Soviet collapse.

      • ErmingtonPublic: have a link I might look into ? From what I know, most of the public assets were just publicly handed over rather than providing shares to individuals ?

        In case I wasn’t clear, I expect it to operate to similar methods of the ASX where you can own shares in the institution and buy/sell/vote with them?

        Edit: I mean .. how would they have handled share issuance to individuals in the 1990s without having developed any of the mechanisms to list shares and distribute necessary company information as well as the market itself to trade shares ?

      • https://www.thenation.com/article/harvard-boys-do-russia/
        Here is one article, but you can find many. Basically shares were handed out to every citizen, but were hoovered up by the soon to be oligarchs, who basically gamed the system. Some argue it led to the crony capitalism seen in Russia since.

        Huge state enterprises built on blood and sweat of Soviet workers basically captured by 10-15 oligarchs. The big Russian businesses today are still basically rebadged Soviet state companies (gazprom, rosneft, lukoil, norilsk nickel). The oligarchs just commandeered control of businesses. This is Putin’s role as arbiter – he decides who gets to keep their companies/flow of rents and who goes to jail. The economy has not really changed and is still overwhelmingly reliant on gas, oil, nickel etc.

      • Hage Buttel…

        I would think its important to point out the Chicago School boys set up the oligarchs in the first order of acts, it was only after the Putin camp ejected them that the currant state of affairs exists. The quip about crony capitalism holds the same for America imo – see Hudson. Basically Putin said they could do as they pleased, not unlike their international counter parts, but, had to be loyal to the home country at the end of the day.

        This seems to be sorta the same program that trump is attempting to implement contra to the previous multinational aspect many large C-corps favored during the attempted globalization phase of neoliberalism.

      • Especially considering those oversold bonds the Chicago boys issued which completely imploded and impoverished millions.

        There was a body count affiliated with that IMO.

      • Jonathan Tepper podcast on the Myth of Capitalism (talking his book, as it were, also some comments on aus housing and the Poo).

  4. DarkMatterMEMBER

    ping!

    I have learned my lesson. I now know it is wrong to poke fun at people on the internet.

  5. Bankrupt university?

    Employers cannot fill jobs that need engineering or technical skills.

    They can. They need to stop using recruiters who are clueless about technical skills. And they need to pay more than £7/hour.

  6. Reading about US jobs and wage growth.. looks like Dec rate hike is locked and few others on the way. Wonder for how long will the aud hold above 70c.

    • boomengineeringMEMBER

      Not much to report on the job front this week. Did a machine with sealed hydraulic system no tank no pump, pneumatically activated. Had to open a fitting and pressure pump the fluid in after the repair.
      Another machine had one of the motors wired to a timer and the client couldn’t work out why it stopped after starting it.
      Going to make bronze bearings for anchor winch but have to machine the shaft with the 600mm diam gear left on as it is a interference fit and let sleeping dogs lie.
      Afund
      Made a bottom bearing bracket for the front fork of a new bike for a guy that makes wheels. Apparently you can’t buy 1 1/4” ID but it didn’t fit, so I asked him to bring the forks. Yep not 1 1/4” but 33mm.

      • @BE ,,,you’re a genius. I’d love to be able to do stuff like that. I’m looking around for a good 3D printer, but it’d never to be able to do the work you do. This one is only new and was developed with a go fund on Indegogo. I’m not sure if the support is there yet though.

        Not riding early today as our dog has cancer in the longs, kidney and stomach. She was fine and happy a week ago, and now struggling to breathe, so she has to be put down at 12. Really gut wrenching for us.

        https://www.febtop.com/

      • boomengineeringMEMBER

        Just took down the remote roller door system to fix, was going to fix the wife’s EIS/EZS electronic ignition switch but it has come good and mine did the same, sometimes start sometimes not over a year ago without fixing it came good with no problem since. Ill just chance it, too many other things to do anyway. ( it’s cafe time for my once a week coffee.)
        Afund just saw your post, even Lutz the locksmith surfing mate is buying a cheap 2D CNC mill, you have to install a Makita router in it yourself. Will look at your attachment after as the missus thinks i’m ready to go cafeing now.

      • interested party

        Boomeng
        The makita routers are loud as …..did you/he look at the water-cooled spindles run off a vfd? Heaps quieter, and adjustable rpm’s.

      • boomengineeringMEMBER

        IP, Thanks Will pass it on, Im a Festo man myself.
        A fund, not as genius just someone always too far out of the comfort zone frying my brain.
        Keep us posted about your dog.

      • boomengineeringMEMBER

        A fund, comiserations heartbreaking.
        Never not been able to do a job. Too much perseverance which is a two edged sword. If I quit earlier wouldn’t have lost everything in the last crash.
        Skip Thanks,noted

      • interested party

        Boomeng
        If he does go with the VFD spindle….I recommend he get the best shielded wiring he can afford. Signal noise from cheap un-shielded will most likely cause stepper motors to miss steps and generally do weird stuff. PITA bigtime. Best drivers if he ends up having issues with the cheapo’s are Gecko drivers…..G540 are good. Run mach3.

        disclaimer…
        I retro-fitted a cnc kit ( own design ) to a 80’s era wood lathe that runs the above driver and program. The G540 gives 4 axis control…I use 3. 1 for x axis, 1 for z axis, and 1 for rotating tool tower, again own design. Bunch of fun, and accurate to 4 decimal places. Not really required for timber though.

      • boomengineeringMEMBER

        Interested P, Thanks for the info. He is only shaping plastic so probably won’t need the VFD as materials such as alum & that plastic like high rev’s.
        IRT your disclaimer, many years ago I made myself an automatic rotating welding machine to weld thousands of components. The VFD was an integral part of its function. The engineering shop that I did it for didn’t trust my welding and routed through the box looking for the imperfect ones on the bottom to no avail and disbelief that someone could weld all of them perfect. Then I came clean and told him it wasn’t me that welded them it was the machine.
        Wow to your retro fit, 4 decimal places sounds like over kill but better to be too accurate.
        You must be still warming your heart with job satisfaction over that one.
        Had to fix 4th & 5th axis that the Navy ( or contractors) couldn’t fix for 6 years. 3 huge electrical/electronic cabinets and a control panel. Didn’t know what was missing. Ended up being Heidenhain optical rotary encoder. The son had to break the code to put parameters in.

      • interested party

        Yeah Boomeng, proud of the outcome….but hell, I opened a tin of worms. It is a totally new world regarding this stuff and the opportunities are everywhere. Think micro-manufacturing ……it removes the china equation for the most part.
        Similar to your son but not as intricate by any measure, I also had to reconfig the UI on the program that runs it, to insert a 3rd DRO to allow the third axis on the lathe module to drive the tool head. Bloody steep learning curve.

      • boomengineeringMEMBER

        IT,
        Yesterday sent money to England for another 3 axis DRO for my big home mill.( the bigger one in the factory ( man cave) weighs 7.5 ton) Very expensive those Newall’s (near ten times the price) but they can handle all sorts of abuse, coolant, swath etc which the glass scales can’t.
        Sounds like you also want to steer away from electronics from now on (I’m not trained in it and the son has swung over to electrical)

      • @BE .. the dog had to be put down, and we’ve not long back from that. Very upset by it, as it was our first dog, and my daughter’s pick, so her and all her friends are very upset. I found it really hard seeing it. Anyway, the pain was unbearable for the dog, and too much cancer to ever have a normal life, so It’s for the best. My wife said I need to go riding now to clear my head. Thanks for the best wishes.

      • boomengineeringMEMBER

        Asked the wife what to say as she used to be a vet nurse and had to do it all the time. She said it was the kindest thing you could have done, she also hated suffering and it is a painless way to go. Your wife is right for you to get away from it all for a while especially with exercise included.

      • interested party

        Deepest sympathies, afund.
        My experience has been, and my suggestion for you, is to get another pup asap. There is a hole that needs filling.

        Boomeng,
        While I did enjoy the time building and configuring the machine, I do enjoy the hands on type of work.

      • IP, seeing as you seem to have a bit of experience with it, was wondering if you know of a good mini cnc mill. Needs to be accurate enough to make dies for hot stamping. When I looked a while back the accuracy of most left a little to be desired.

      • interested party

        Timmeh
        If I had to go down that road, and if I had the time, I would definitely build my own.
        I have dealt with Homann Designs for the electronics side of things before and found him Ok. A bit exy but he sells good brands.
        I would sit down and draw up what you need in work area ( cutting zone ) and what you expect to work with ( stock/materials ) and go from there. I have no experience with the cnc mills apart from using the same software and electrics as some of them do. I designed and built my own control box that incorporates the computer, stepper driver ( G540 ) , and the power supply unit + associated fans and cooling.
        You could always start with a basic unit and upgrade the elecs etc to suit, once you have some idea where you are going with it. The cool thing with these things is you can use the cnc to machine/build the next iteration of your cnc as you get your head around it and know what you don’t like about what you have. Heaps of stuff on youtube.
        I am warning you……..it’s a tin of worms, but if you get the right idea you can make a few bucks from the shed or carport.

        The accuracy comes from using quality stuff. Bearings, rails, frame design, and then the electrics. The G540 or any gecko gear is very highly regarded……commercial spec gear for the little guy.
        https://www.cnczone.com/forums/

        plenty of help on that forum to get you started.

      • IP cheers. Only soft metals, brass, copper. But has to be accurate enough to do 8 point size fonts. Lol, well aware of the rabbit hole I might get myself into with this kind of thing. Boys and their toys 😀

      • I’m sorry to hear your loss Afund. Always a heartbreaking sh1t time! Replacement therapy has been the best way I’ve found too…….

        Thanks for an interesting thread & thanks for the tips IP. The interface between software & hardware & bringing it to life has been putting me off building one more than it maybe should……! Learning the new crop of software etc is time consuming tedium too……. The GUI’s of old were restrictive, clumsy & slow so I’ve always bypassed them & gone direct ISO.

        Timmeh I’m confused between hot stamping & machining Brass/Copper, I’d presumed you would be working High Carbon steel & heat treating?

        FWIW Waffle…….
        I’ve been thinking of building my own too for non conventional shapes & small production runs moreso than full on competitive production! Most of these machines or components I see look to be more for micro work or machines that wouldn’t appreciate industrial production levels. Which is perfectly fine for light shed work so long as there’s no production imperative! Aggressive roughing out is where a lot of time is found in production (also intricate areas), but unless (& even if) it’s a solid machine, if you push them, you’ll stretch, strain & prematurely wear the gizzards – you lose repeatability & accuracy – this also goes for conventional machinery too, unless you’re machining Styrofoam. You don’t look after them, they don’t look after you & you’ll find your quality dropping & you working harder to hit the spot.

        What I learned in 10 years of CNC in Jobbing & component Production with many different new & old CNC machines was 4 decimal places are needed for the computer to resolve tangent points etc. So it only really sorts the virtual world. In the real measureable world all sorts of factors vary the outcome. Backlash in the ballscrews. Backlash in the bearings holding the ballscrews. Spindle quality, quill diameter & fit. Tool deflection, job deflection, machine deflection. Climb, vs conventional cutting, depth of cut, spring cuts, heat buildup, tool wear, tool overhang/shaft flex & vibration. Not holding the job properly affects deflection, & working further from the clamp/chuck gives more deflection. Consistent jaw pressure. Also deflection between a chuck & centre can ‘fat belly’ a turned shaft. Changing speeds & feeds from one part to another will also affect & all contribute to inconsistencies when you’re chasing tight tolerances.

        Mass in the machine improved inertial damping & soaked up vibration. Mass in the right area’s creates a counter to deflection. Ballscrew backlash can be countered through changing backlash parameters via software, but the backlash still physically exists……. adding a second ballnut & lightly forcing them against each other the same way as a split nut on a conventional Lathe cross slide removes any potential mechanical slop. As does introducing competing thrust washers on the ends of the ballscrews. Wide slideways with very neat fit without binding……. And then there’s the tool, path & holding management as mentioned above…….

        I don’t know anything about this, it’s different & maybe suits your needs – https://www.youtube.com/watch?v=kdJA0g0E6uQ – ? – http://www.pocketnc.com/pocket-nc-v2/pocket-nc-v2

        Maybe there’s some triggers in there for you or maybe not, I’m sure others could add their experiences to this…….

      • boomengineeringMEMBER

        Hey Colin, repaired the hydraulics on another CNC mill for a plastics mob, it had Graziano parts( I consider Graziano the worlds best manual lathe ) and a Lamborghini pump.

      • Graziano are good. I liked the Dean Smith & Grace’s we used at GI the most, solid & did what they were asked to do, no fuss & never miss….. old world though, so good ones probably don’t exist anymore.

        Afterthought, the largest diameter ballscrews you can manage & the largest slideways also……. surface area……. I’m not sure (wary) about linear bearings & machine vibration? But they’re good for a lot of other slideway uses. All comes down to what’s adequate for the job……

      • interested party

        Colin…seems you could knock one out without to much drama. From what I have learnt, I agree with all you have said….particularly the backlash aspect.

        Timmeh, Boom, Colin,……..here is an alternative to building your own kit.
        https://youtu.be/gyaHoJc1I9s

        As Colin noted…mass helps. Fitting a cnc kit to an existing mill is probably a good option to consider. I don’t know if you will get the speed of movement that you can get with the lighter alloy framed units, but the mass and the longevity will be there. I don’t know what RPM these mills can achieve but I believe the VFD spindles will get around 23K ish.

      • Thanks IP! I’ve been half thinking of building the whole thing for a larger work envelope. But something along these lines would go close to suiting my needs – It’s not a commercial ‘time is everything’ gig. Servo motors & resolvers were de rigeur in industrial ones – need to suss pro’s & cons there……

        For Timmeh’s needs, I’m with you, he might need the faster VFD head for his micro type stuff. Any other links you have, I’m all eyes 🙂

      • interested party

        Colin, there are so many variations to apply, I think it comes down to user priorities and expectations. I would only recommend to anyone who intends to build a machine to add at least 50% to the work area you think you need because you quickly outgrow the capacity you once thought was enough.
        Regarding the retrofit to existing mills……look into fitting 4th and 5th axis to the things.

    • Exactly Nikola. Trade war rhetoric will make it bounce around but ultimately it’s all about interest rates.

  7. Why did we bring in Africans who turn around and beat us up, even ripping the earrings off our ears?

    Can we send them back?

    (St Kilda)

    • The Traveling Wilbur

      Did you have a particular country in Africa in mind? Perhaps Dickheadinya? Or just all of them?

    • I lived in St Kilda about 15 years ago. The worst of the locals could be a bother if they were having a bad day, nothing that couldn’t be avoided. It was the weekend I dreaded. People coming in and using the location’s reputation to act like selfish a$$h0les. They were always the time I was most wary when walking home from the bar I was working in. It’s the same thing across Australia, from Fortitude Valley in Brisbane to the Cross of old in Sydney. Having said that, the publishing of the above story probably has more to do with the upcoming Victorian election than any real concern for the public’s well-being.

    • The L-series engine was the Japanese Small Block Chevy.. it’s had 40+ years of hot rodding to find the best ways to extract power. Some of the drag engines in Japan make 400hp+ (N//A)..

      This engine was built by Les Collins Racing down in Warragul. A stroked L28 out to 3.5ltr.. (custom crank) and Triple 50mm carbs. (Mikunis/solex) worth about $10-12k on their own.

      Don’t expect change out of $40k…
      https://www.youtube.com/watch?v=kA6lXoHQ9sc

    • Was at a LAN party in around 2000 when those Best Motoring videos we’re finding their way out of Japan via the web. Someone had videos of a couple of atmo 240z’s pulling 10sec quarter mile times. IIRC they were stroked and obviously had lots of work done, and the slightly faster one running on gas.
      I was told the L series were originally based on a Mercedes blueprint, interested to know if that was the case…

      • Yes 10 seconds has been done for a while now, I believe there is newer records than this.
        https://youtu.be/cvyq-9VKOT8?t=57
        https://youtu.be/56NY5BI8lEE?t=43
        Gotta love the wail of an L-series at full noise!

        RE: Mercedes engine copy, the rumour has floated around for years, but it’s not true. The L-series started with the L20A in the Nissan Gloria in 1965.
        https://www.classiczcars.com/uploads/monthly_03_2006/post-2116-14150797085721.jpg

        To quote a friend with far more knowledge of the subject here.
        https://www.classiczcars.com/forums/topic/19264-valve-cover-differences/?do=findComment&comment=165213

        As far as I understand it, the truth is that PMC ( Prince Motor Co. ) licensed some Mercedes-patented design details ( not a whole engine design ) for their ‘G7’ engine – which debuted in June 1963.

        Hiroshi Iida and his team at Nissan designed the new ‘L-gata’ engine ‘module’ during 1964 as a direct response to arch-competitor Toyota’s new ‘M’ series OHC sixes. Iida himself admits to having been influenced by the Mercedes engine design, and says that they used this as a “reference”. However, they did not license any Mercedes patents……

        I think it would be fair for us to expect Iida san and his team to have been influenced by the Prince ‘G7’ engine design details ( even if he is too proud to admit it ), but Prince was not merged with Nissan until well after the Nissan ‘L-gata’ engine module was designed and in production. There was no direct ‘inheritance’ of Mercedes-licensed patents transferring from Prince to Nissan in relation to the ‘L-gata’ module.

        We quite often see the history of the Nissan engine reported as a smooth sequence along the lines of ‘Mercedes patents to Prince, and Prince taken over by Nissan’ – but this is well wide of the mark. The situation was far more complex than that.

        L-GATA meaning “Type” or L-type.

        I saw a similar comment for Toyota M-series on Youtube the other day claiming the Japanese Engine was a Mercedes based design. However those in the automotive industry will know all about the use of patents etc.. For example Bosch type fuel injection was utlised in the Nissan S30Z (from 1975) in many markets. That doesn’t mean it’s a Bosch copy, rather it’s Bosch parts used in the production of the vehicle. It would appear to me that the Mercedes engine was an influence, but it was not a copy of this motor.

        So that’s a long way of saying, yes but no. 🙂

      • Here ya go, latest record I know of 10.343 around 2min mark. Making 365PS (not sure if this is to the wheels?)
        https://youtu.be/uZrOA3z9yFo?t=112

        Looks like Tube Frame car is 9.88 seconds and stock body 10.343.

        Not bad for a SOHC twin valve L6 engine displacing around 3.3ltr.

      • I’ve got to admit the reds never did it for me either – even the hot ones seemed to have more noise than go. I preferred my 253 wagon & my 265 Centura in those times… both with just carby’s, cams & extractors.

  8. This is the way the world ends
    This is the way the world ends
    This is the way the world ends
    Not with a bang but a whimper.

  9. We can do your teeth while you take a haircut??
    ASX:SIL The relationships forged more than a decade ago with Lynda Woods, of Morgans, and Anne-Maree Keane, of KPMG, SIL Listed at $1.09. back in April ’18.
    “They are an example of two ladies who gave me the time of day when I was nothing and ended up getting a substantial amount of business for their companies when we listed in 2018,” he said.
    “Too many businesspeople have too short a time frame. Very few people play the long game and that is often to their detriment.”
    Mr Timoney will speak today alongside Heath Hill, the branch manager of Morgans Gold Coast, on the “Anatomy of a listing: Ins and Outs of an ASX listing”.
    He said it was important not to get bogged down on the detail, take it a day at a time, and keep the end goal in mind.
    Mr Timoney said the reasons for doing the listing were threefold
    The process started in March, 2017, and took 392 days from beginning to end.
    Mr Timoney said the first step was to organise a “great team” made up of the lawyer (Talbot Sayer), accountant (KPMG) and stockbroker (Morgans).
    “When we wrote the prospectus, we had the lawyers, brokers, accountants, all in the same room, as well as the Smiles team,” he said.
    “Everyone had to agree to every single sentence and paragraph in a 120-page document. It was one of the hardest things I’ve ever done. But we did it.”
    He said the business also needs a point of difference from competitors.
    In the case of Smiles Inclusive it was the ownership model, which had dentists reinvest the proceeds of the sale back into the business.
    He said the investor roadshow, which preceded the Initial Public Offering, was a slog, involving 47 one-hour meetings over a two-week period in major Australasian cities.
    “It was five to eight presentations per day for two weeks in the capitals presenting to all the fund managers.
    That was very hard to stay focused.
    However, we ended up being 5 times oversubscribed by the institutions so they all loved our story.”

    WW closed yesterday at 75c. And is worth ZERO. Morgans??
    I will guarantee the love has been wiped off those smiles now.

  10. Or was it we can take your teeth and give you a haircut…………… and if you have anything else of value, we’ll take that too

    Edit: Hmmm thought I replied to WW post above … oh well

  11. Well I have just been through the stockmarket and
    the fix is in
    for all you folks talking about buying a house
    I’d be concentrating on job security first.
    Update on how I’m travelling in the share-market game on monday, but I will disclose that 85-90 odd percent of players have lost money. Not me, I’m in profit.
    and I recon those losses- attitude- plays through the whole self managed super and commercial super.
    HUGE

    • “If you’re heading towards retirement but suddenly find yourself in a period of particular market uncertainty, what do you do?”
      AMP’s Oliver says the answer depends on your risk tolerance.
      A reasonably healthy 65-year old with a typical superannuation balance of $1 million can expect to live another 20 years.
      That means they might need to work longer, top up their retirement income with the state pension or boost returns on their lump sum by increasing their exposure to riskier asset classes.
      Duncan Hughes (AFR) reminds us Key Australian share indices can take nearly 6 years to return to pre-crash levels after a major correction, demanding searching questions from investors during the current global market turmoil about staying in or getting out of the market, particularly those nearing retirement.
      Investors are under extra pressure now as the residential real estate market continues to tank.
      “So with property overvalued and falling and the share market in the grip of increased volatility, what do you do?” asks Paul Moran,
      “First, take a medium-long term view of the world as a starting point –
      whether you think capitalism is finished and property prices will fall indefinitely, or whether you see that market ups and downs occur with regular monotony.”
      WW. Nothing that is going on in the market today is indicative.The commercial corruption which has taken place in the last 25 years, will reset risk all the way back to levels described by Adam Smith. And probably much lower than that.
      It is the end of the ear a of free money.

      • interested party

        The end of free money…..hmmm. That is a subject that most have not discussed over the kitchen table with the loved ones I would reckon.
        How many have their income ( super/stocks/RE ) tied to the idea of continued free money? What happens to the cities when the cash flow dries up?

        The corrollary to the above….. define true wealth……
        Would you define a yard that supplies 3/4’s of your weekly food bill…….every week…..all year round…….a good return on investment? If that yard majored in perennials and fruit/nut trees, you could plant once…….then continually pick and harvest from that yard for many years, all without destroying the “capital base” ie…drawdown.
        When times get tough……and they are………get a permaculture design certificate under your belt, and introduce resilience into your planning.
        You see….it’s not all about money after all.

      • IP…

        I think the confusion stems from those that think – money is wealth – and not a means of accountancy to facilitate transactions which can or not facilitate wealth creation.

  12. UNITED STATES: October jobs report smashes expectations, wages rise at fastest pace since 2009 … Yahoo Finance

    https://finance.yahoo.com/news/live-october-jobs-report-2-112742973.html

    … with U.S 10 Year Treasuries now 3.22% …

    US10Y: U.S. 10 Year Treasury – Stock Quote and News – CNBC

    https://www.cnbc.com/quotes/?symbol=US10Y

    … note what Sir Ron Brierley said on an Australian Broadcasting Corporation programme October 2017 … a year ago …

    30 years on, Lessons of the 1987 share market crash with former PM Paul Keating (and others) … ABC The Business 18 October 2017

    https://www.youtube.com/watch?v=EhiE_zXAxx8

    • … New Zealand is not immune…

      Falling Australian house prices a warning for NZ: commentator | Catherine Harris | Stuff.co.nz

      https://i.stuff.co.nz/business/property/108168646/falling-australian-house-prices-a-warning-for-nz-commentator

      … with the major concern of New Zealanders … the risks, costs and consequences of bubble – priced housing …

      New Zealand Issues Monitor – Concerns about housing grow

      https://www.ipsos.com/en-nz/new-zealand-issues-monitor-concerns-about-housing-grow

      • … The painful process of repeating (very) recent history …

        In California, Home Sales Are Plunging Like It Is 2008 All Over Again | Zero Hedge

        https://www.zerohedge.com/news/2018-11-02/california-home-sales-are-plunging-it-2008-all-over-again

        For years, the California housing market was on the cutting edge of “Housing Bubble 2” as we witnessed home prices in the state soar to absolutely absurd levels.

        In fact, it got so bad that a burned down house in Silicon Valley sold for $900,000 earlier this year, and a condemned home in Fremont sold for $1.2 million. But now things have changed in a major way. The hottest real estate markets in the entire country led the way down during the collapse of “Housing Bubble 1”, and now it looks like the same thing is going to be true for the sequel.

        According to CNBC, the number of new and existing homes sold in southern California was down 18 percent in September compared to a year ago… read more via hyperlink above …
        .
        .
        … What I wrote following the collapse of ‘Housing Bubble 1’ … clearly setting out the differences of land supply strangled California and open and normal Texas.

        For housing bubbles to be triggered, land supply must be strangled. Finance in all its forms (equity; bubble equity; debt) is simply the ‘fuel’ …

        Housing Bubbles: Jumbo Mortgages = Jumbo Problems | Hugh Pavletich | | Scoop News

        http://www.scoop.co.nz/stories/WO1003/S00019.htm
        .
        .
        … If housing prices exceed 3.0 annual household incomes (median multiple) it is evidence that basic structural land supply and infrastructure financing issues need to be sorted out …

        Demographia International Housing Affordability Survey: All Editions

        http://www.demographia.com/db-dhi-index.htm

  13. If anything, Snow’s path-breaking research underlines how important it is not to equate science with statistical calculation. All science entail human judgement, and using statistical models doesn’t relieve us of that necessity. Working with misspecified models, the scientific value of statistics is actually zero — even though you’re making valid statistical inferences! Statistical models are no substitutes for doing real science. Or as a famous German philosopher once famously wrote:

    There is no royal road to science, and only those who do not dread the fatiguing climb of its steep paths have a chance of gaining its luminous summits.

    We should never forget that the underlying parameters we use when performing statistical tests are model constructions. And if the model is wrong, the value of our calculations is nil. As ‘shoe-leather researcher’ David Freedman wrote in Statistical Models and Causal Inference:

    I believe model validation to be a central issue. Of course, many of my colleagues will be found to disagree. For them, fitting models to data, computing standard errors, and performing significance tests is “informative,” even though the basic statistical assumptions (linearity, independence of errors, etc.) cannot be validated. This position seems indefensible, nor are the consequences trivial. Perhaps it is time to reconsider.

    https://larspsyll.wordpress.com/2018/11/01/real-shoe-leather-research/

    • Worse than the model being wrong
      9 times outa 10 the data is incorrect.
      especially historic data
      Sound familiar??

      • I think the rub is the propensity in economics is to ex ante ones optics for some imaginary reality preference and then find data that fits that framework. Then again I would also reference Science Mart for a perspective on dodgy incentives which produce just the opposite of what the proponents sold everyone on.

        Per your comment below I suggest reading a few books like, Keynes, John Maynard, ‘What is money?’, Economic Journal, 24:95 (September 1914), pp.419-21

        David Graeber: Debt: The First 5,000 Years, Publisher: Melville House; Reprint edition (November 27, 2012, ISBN 1612191290

        L. Randall Wray, Credit and state theories of money: the contributions of A. Mitchell Innes, p.223

        To over simplify the deal with physical money is proceeded by human contracts. I think I’ve noted before, on many occasion, that golds first use was determined by equal weight of say wheat, hence the gold only represented the value of the consumable and not intrinsic to itself. In light of this any money type is just a reflection or physical anchor point to a basket of contracts between people. One should also consider the ability of say bimetallism wrt to the outcomes of nations or the destruction of societies in seeking it.

        A good starting point is Athenian democracy and the finding of a big silver load and lest we forget the slaves they used to dig it up. Originally all the voters [men] wanted to give everyone a share, till it was decided to be used in building a navy. Worked out with the Persians, but ultimately failed wrt the Spartans, even after fortifying the rebuilt city after letting the Persians burn it. Then move onto the Spanish and the fleet that sunk with new world gold and silver leading to its diminishment [not to mention the outcomes for the indigenous peoples]. Then try the DEI company and their moeny machinations e.g. illegal to trade in currency outside of company laws, but ultimately every one was doing it – see recent ship find and discovery. Lastly WWI reparations and how that all played out in the end.

        I would end with CBs use a basket of assets including precious metals to provide a broad base wrt to both risk and reward. I find it curious that some go for hard to transport and store physical metals and not precious stones e.g. more rare, smaller, lighter, and less prone to wild swings in price. Just saying.

      • I understand some have environmental conditioning wrt it WW but history does not support it. Sorta like believing in magic to ward off evil spirits or its use in religious iconography. At the end of the day bimetalism or fiat both suffer the human tool user problem. Seems that would be a good starting point rather than what contracts take wrt accountancy forms. At the end of the day its the trade in goods and services which underpin society and as such a nation.

      • At the end of the day its the trade in goods and services which underpin society and as such a nation.
        U need to emphasise trade. international trade.
        Correct
        It is inter-modal shipping which has hammered the last nail in the coffin of straya as paradise for the working man
        Wage rates to our north are 1/3 of here,
        Vietnam can do all we can in manufacturing at 1/4, usually 1/8 the final price of goods made here.
        And say a comparison with the USA gives a wage rate here of about $15/hr.

      • Wages is a bit wonky in putting a baseline under everything when long lines of information have a higher cost in the long term. The wages bit goes back to a cornucopia of ideological dogma trotted out by corporatists to pump equity values which in turn make motza for the financial elitist, tho crumbs do trickle down. But then the argument was always about fighting non existent inflation by firstly the monetarist and now the quasi monetarists in their attempts to push the sound money agenda – see Volcker’s NYT piece.

        They thought they could endlessly short shrift the wage earners whilst pumping equity with the promise of lower cost goods as an off set. They made squillions and patted themselves on the back, but never seemed to be concerned about the end game e.g. IBGYBG. So now it time to set up strawment to pin all the blame on when they did it to their own citizens with full knowlage.

        I mean Bush Jr clearly said I know who my base is…..

      • Ww…and the data is incomplwye so statically incorrect. ABS on certain trade data was found out, yet that never was corrected or admitted to. Imperfect or ??

  14. Gunna answers his own questions??
    Sovereign money: A challenge for science – VoxEU…maybe a weekend chance to debate the nature of money….
    Gold buying by central banks hits its highest level in almost three years – CNBC
    WW too easy, simples. I never saw a lump of gold made from electronic 1’s and zeros
    Gold. Gold is a monoisotopic element and its atomic weight is determined solely by its isotope 197Au.
    Gold/Atomic mass: 196.96657 u ± 0.000004 u
    Its genuinely heavy stuff????

    • ErmingtonPlumbingMEMBER

      Maybe stockpiling the the heavier Pu239 and Pu241 would be a more prudent form of maintaining nation soverign stability.

      • Future conflicts are economic, with US hardware to sort out any Arabs who get any idea of sticking their turban above the sand hills at the oasis.
        How about this:
        Thanks to the way it has managed its currency over the years, China has amassed the world’s largest foreign exchange reserves — a $US3 trillion stash of money it keeps in dollars, euros, pounds, yen and other currencies.
        BUT It has begun to tap that stash. By about $US20 billion just in September.
        “Selling almost $US20 billion in a month won’t break the bank,”
        “But it does indicate the direction of current market pressure.”

      • n
        Somewhere i read those Ruski missiles were good for Mk 7
        then I read the USA had lasers good for 25k which could destroy a missile.
        I guess both sides are waiting for something to occur in the mid east to try em out.

        The oil sanctions will come into effect on Monday and will target the country’s largest source of revenue in the most punishing action taken since the Trump administration withdrew from the 2015 nuclear agreement in May.

        The decision will also affect Iranian shipping and financial transactions.

    • Geez, come in spinner much? One of Trump’s boasts is that the stock market was going gangbusters all because of him but in recent weeks the thought of a trade war with China has helped to sour those same markets. All this sudden talk that Trump thinks there is a way around the impasse is simply him pumping the markets going into next week’s mid-elections. Come Wednesday morning there will be no longer any incentive for Trumpy to play nice with the Chinese. I am constantly amazed at how often people react to Donald Trump as if he is something other than a grifter.

      • I’m constantly amazed that people don’t take the time to read his bio, like his involvement in gentrification in NYC after the banks pulled that fast one on the city bond issuance, followed by the tide that lifted all boats in C/RE. BTW how does one actually BK a Casino or that his other projects are to facilitate the pleasure of the wealth class and lastly his captain picks for economic advisors.

        I mean contra to all the talking he does reality is quite different – https://www.epi.org/policywatch/

      • skippy,
        Are you suggesting that a real estate shyster should not be taken on his word? What is the world coming to if we can’t trust our greed driven salespeople reality tv stars?

      • I’m with you Triage. Wonder if it’s worth a cheeky short on the SP500, ASX200, AUD on Tuesday night.

      • It wouldn’t surprise me to see a retest of recent lows before some direction is found. Whether it’s elections, trade wars, or whatever other narrative they can tag it with…….Trigger on weight of evidence & set price alarms to wake me……

      • Yes, I don’t think there will be a deal yet, I’d be a bit disappointed if there was as we’ll end up screwed or worse if Xi gets his way.

    • Better question is why are some slavishly devoted to failed economic ideology, I mean a dog might kill one person where the economic ideology effects everyone and everything.

    • Yeah but dogs don’t kill people, people do. Some that defend this type of dog as a family pet have obviously never seen them go to work. I saw a rodeo clown skitch four of his dogs onto a bull at the Warwick Rodeo many years ago, the dogs would stay locked onto the bull’s head even as it was pounding them into the gound. One of the dogs went into spasms and detached then shook itself and went straight back onto the bull’s snout. F’ing barbaric it was. We always had lots of working dogs when I was a kid but none were anything as manic as those dogs, and yet we never treated the working dogs as pets. Stick with labs and cavs for your kids folks.

      • Agree, some dogs cannot be trusted. My lab however is a gentleman and squire with the kids. Will tolerate all kinds of poking prodding, pulling etc.. very gentle.

    • I was at a conference a few weeks ago where a predetermined was talking about distance tracking replacing the recently reintroduced fuel excise. This is hupothesised to come in with autonomous vehicles.

      • There has previously been talk of satellite tracking as a zero tolerance means of controlling speeding. The nanny state thing don’t go down too well with the populous. Distance tracking replacing fuel excise would be a different story.

      • I find the conversation about legal ramifications and insurance quite informative wrt self driving vehicles e.g. someone has to program the morals into the code. Not to mention the issues with complexity and increased fail rates, not that anyone would or could hack en mass any of it for nefarious reasons.

        Had a strange bloke tryout at work for a bit, had a sub prime car loan. Anywho must have not payed his loan on time and they had a GPS lock out and need an advance to get it unlocked. I also remember talk about the car not being the driving issue but the information and captured audience such vehicles would afford.

        So much for the whole freedom and liberty shtick…

    • Too right.

      First question when you dial 000 should be “can I have your credit card number, please”.

      • Perhaps I am misreading what you are trying to say, but I a unsure how you come to that conclusion.

        If we persist with current policy it will actually be the wealthier residents with a house and a spare $50k to go off the grid, that will weasel their way out of paying for infrastructure. Everyone else will be asked to pay ever increasing electricity prices as the pool of consumers shrinks.

      • My assumption was you were complaining about the idea of changing tax structures to capture people with electric cars and off grid power.

        If not, my apologies.

    • roamingmilltothial

      ‘CSR boss Rob Sindel says suburban dream driving profits higher’
      https://www.afr.com/business/construction/csr-boss-rob-sindel-says-suburban-dream-driving-profits-higher-20180508-h0zsjc
      Notice how it’s profits, not GDP, of course no mention of the costs to the rest of the populace.
      ‘Mr Sindel said housing markets had benefited from large migrant intakes over the past few years,…’
      But of course there is no link to the rate of immigration, profit and the cost of land.

    • That deagel link, has the Australia population in 2025 DROPPING to 15 million? I don’t see that, or am I misreading the data?

      • It might have something to do with GDP dropping to $420 billion. IMO a more realistic armageddon scenario would be AUD collapsing, and GDP rising into the tens or hundreds of billions.

      • Your read is correct Janet. I agree that it is highly unlikely…but I do see a net outflow of persons should we get a hard recession. Regardless, as many have stated on MB, companies like CSR are obviously desperate to not see a reduction in the immigration rate.

      • The Global Pop is also reduced by half a Billion people. Genghis Khan reckoned no one deserved their place on this earth until they’d cleared a place for themselves on it…… Maybe someone plans to try out their products?

      • Interesting link, I wonder what they see as the primary driver for those Aussie projections & other countries.
        http://www.deagel.com/country/forecast.aspx
        I’m struggling to see a scenario where they can place Italy way above Germany, the UK not even in the top 30, Russia at 3, what is their model, I wonder.

      • and ZULU
        If you rummage around this site( go to the home) you may come across a disclaimer which says that the pop decrease is not the result of Plagues or War.
        My bet is Climate Catastrophe with a side of famine.
        It may be later than we think.

    • Mining BoganMEMBER

      *waves*

      Although, I must admit that all this crap is pushing me further towards the right.

    • Dude! The whole world is f•cked in the head… I mean… you go for an interview and you get ‘sorry, technically you’re spot on but we think you talk too much’ … like… wtf?? Oh, and last time, same people, similar position ‘we think you didn’t talk enough to convince us about the knowledge depth in the subject ‘. What the actual F•ck!!!??questionmark

      Friend of mine says the same: went for interviews: ‘yeah, your technical skill is off the charts but, we’re looking for someone with more empathy..’ it was a firmware coder position…. again, by Cthulhu’s tentacled beard, what the f•ck is wrong with these people?!

      • boomengineeringMEMBER

        INO, Sounds like you’re too good to be working for a boss. Sometimes I work for labour hire just to mix it and see anything new but invariably political/ social problems arise. Never have that working for yourself as not long enough in one spot.
        The other problem you face is that the recruitment is not the employer as was the case years ago, so has no understanding of the skill required and only knows social interaction. This stupid system leads to the demise of efficient work, basically they will end up with used car salesmen/women working on technical stuff, stuffing it all up.
        If you we to work for yourself you would clean up as consultant rectifying the said stuff ups.

      • Those two tiny letters have been the downfall of company morale and sensibility. HR. Whoever invented the damn role and managed to push it into mainstream company culture should be taken out behind the shed and poleaxed.

      • @Boom, @Timmeh – I think this was actually someone from the senior mgmt side who dropped me – I have my suspicions it was the associate director who was on the panel (why the f*ck, I don’t know, but seems that he’s on all the panels)… about 10 minutes in the interview I noticed he was looking bored, like… very f*cking bored, the “look at me, I’m going to yawn and look through you”… I thought “Hmm!… that’s ‘interesting’….”. The techs were more than happy to listen and ask questions. The HR ladies sounded OK too…

        I don’t know who the f*ck I pissed off and when – but I have this sinking feeling that I’m not going to get a position with them no matter how hard I try.

        @BoomEngineering – Consluting in IT? isn’t that kind of “bottom of the pond scum feeder”? Considering that I wanted to put down some roots in the Northern Rivers – jobs around here, on my expertise field are about as rare as hen’s teeth… In 2 years – I only found 4 or 5, all seemingly spoken for – so I was just “process filler” … Might have to p*ss off back to Brisbane.

        *sigh*

      • boomengineeringMEMBER

        That’s what I am a bottom feeder, get all the sht work dropping to the bottom that no one else wants or can’t do. Very lucrative when you have no completion.

      • Less overheads makes you more competitive Boom. Also being a bottom feeder is perhaps about being more adaptable/capable technically & machine wise than some who have narrowed off or didn’t know to start with. If they’ve narrowed off their potential income streams they’re possibly dependent on one lucrative one……. while it’s there…….

      • HR is so the policy creators don’t have to interact with the unwashed or do face time – unless on a dais.

    • GunnamattaMEMBER

      You may want to watch the linked CNN vid.

      The reporter (Don Lemon) was simply making the point (and I personally think he is right) that ageing white males present a bigger threat than islamized black youth etc. The corro said absolutely nothing about anybodies right to vote.

      That is something added at the Sarah Palin end, on the back of an audio with Steven Clifford – who has been running the line for a long time (presumably to add to the returns of books he occasionally writes). If you look at who Steven Clifford is (in addition to writing books) you can find at Bloomberg (https://www.bloomberg.com/research/stocks/private/person.asp?personId=636015&privcapId=6223793&previousCapId=6223793&previousTitle=Seattle%20Biomedical%20Research%20Institute) he is the former (25 years ago) CEO of a broadcaster and Columbia graduate MBA toting talking head. In the audio he is asked about the weakness of the Democratic party in the lead up to the US mid term elections – and says they are Trump obsessed and arent presenting themselves (again something I would tend to buy) and is then at the end of that asked about the ending white male franchise – which anybody hearing will get the impression he is asked every time he speaks anywhere about, and sounds like a regular exhortation..

      It is exactly the sort of thing designed to excite fairly normal day to day people, which is exactly why the Palin type and the alt right nutters of this world like to post headlines just like that with nothing much in the accompanying piece relating to the headline, and a classic example of the type of way the alt right nutters of this world will grab two completely unrelated bit of video or factoids of news and join them in such a way as to inflame opinion..

      But Mining Bogan if you feel you are being pushed to the right then you will be happy to learn (as I was this week) that there is a Division of the Department of Defence who had a group executive therapy session in Holwsorthy Barracks about a month ago, who are apparently ‘managed’ by almost solely lesbian feminists who apparently share amongst themselves a preference for only promoting males who are openly camp – and subscribe to a mantra of ensuring there are no OWMs (old white males) join them in the higher management levels. I was related the news by a decorated former ADF Major who has been shot at for his nation and after 20 years service thought he would move sideways into the public service and has had it related to him that he comes within the ambit of OWM (as indeed he does).

      The fragmentation and identityisation of our world is taking on some particularly weird forms, and is plausibly pushing us all to the right…..

      • ErmingtonPlumbingMEMBER

        I concede that I didnt listen to that Clip Gunna and I also concede that you hold a greater intelect and wisdom than I.
        Im actually supprised nobody called out the fact I had posted a Sarah Pailn sponsored story.

        But I stand by my position that intersectional Identity politics has been weaponized and put into the service of Global Plutocracy and wielded as a tool to divide the Working Class in the Western hemisphere and neturalise its democratic power.
        I see this demonization of “White people” as the source of all evil in the world narrative, as being similar to the demonization and scape goating of the Jews by pre war European facists.
        This popular phenomenon is clearly gaining momentum and as the parent of 2 very white children (if I leave the daughters bed side light on she gets a sunburn!) I can not tolerate the racist slurs being leveled at them when the “all white people” intersectional narritive begins,… nor the concept of Collective responsibility by all “White people” for the atrocities committed by an Empire that existed to serve the power of a tiny Aristocracy, made up by a minuscule percentage of the population and to who the rest of the population were basically enslaved.
        When ever this narrative comes up in one of my ALP meetings I call it out for the prejudice and racism it is. Much discomfort is observed.

      • GunnamattaMEMBER

        But I stand by my position that intersectional Identity politics has been weaponized and put into the service of Global Plutocracy and wielded as a tool to divide the Working Class in the Western hemisphere and neturalise its democratic power.

        ….We are as peas in a pod brother. I completely agree with your point. But just thought a bit of extra scouting on a Sarah Palin link worth undertaking.

        Intersectional identity politics is being used to divide and rule by the 1%ers

      • “Intersectional identity politics”

        I always thought that was just code for consumer – pubic choice theory, sorta like Morris’s shtick with direct democracy.

    • like you EP, have found myself becoming increasingly fed up with the hypocrisy and Orwellian double speak, BUT
      c’mon EP ……. variants of this have been developing for years, though earlier it was more blatantly sexist vs the in your face racism that is becoming increasingly ‘normalised’. You’re old enough to remember the “all men are rapists” from Feminism 1.0.

      now the ‘believe all women’ BS – I mean, weren’t you watching the Kavanaugh nomination process??

      Attribute ‘badness’ to an ethnic/religious/gender group, i.e. identitarian politics AKA ‘progressiveness’ as it is now incarnated, and you have the inevitable, logical expansion to ‘all white men are racists’…. not only are we racists, POC (‘people/person of colour’ for those who are falling behind on the use of acronyms) CAN’T be racist – apparently – and BTW, for you white men out there who might have a partner who happens to a POC that is no proof that you’re not racist, just that you are exploiting your ‘white privilege’ which means by definition that, wait for it …… you’re a racist….

      and don’t think it’s confined to the US. Look at what is happening on Oz uni campuses and in our society and MSM…… the US mid terms are, regardless of outcome, going to be a social watershed for the Anglosphere …

      watch this space …….

    • FiftiesFibroShack

      That’s a rather noxious, though clearly effective, example of identity politics.

      I mean, if they can get a self-described lefty to post a link to Palin’s site, without checking the accuracy, that’s a powerful manipulation of you based simply on identifying as a white male.

      Edit: This moderation is getting a little out of hand.

      • Edit: This moderation is getting a little out of hand.

        +1

        Posted several replies in this thread, all of which were binned. Presumably because they were directly in response to Gunna’s post.

        Yet the hilarious paranoia and hypocrisy of “davidjwalsh” above stays.

        Weaksauce.

      • roamingmilltothial

        Steven Clifford, author and former CEO of the King Broadcasting Company and National Mobile Television does want to take away voting rights from a certain segment mentioned above. You can find an article if you search his name and pjmedia.

  15. Bastard tensioner pulley bearing decided to crap-out… mower is incapacitated until tensioner replaced… might as well replace the second tensioner too, feels rather gritty/noisy when spun by hand.

    Oh well, 15+ years – it’s not too bad for a bearing exposed to unimaginable amounts of grit and water as you would get on top of a mower deck.

      • I’m rather stoic on these ones… they gotta happen. No amount of hating will get it fixed, so get with the program.

        Now, shìt design or assembly, that gets my goat: pulley misses an adjustment washer because asshat on the assembly misses it or puts adjustment washer on top instead of underneath; mower throws belts and shreds them in the process like they’re going out of fashion. Repair shop is a bunch of monkeys using spanners to scratch their arsės, of course can’t find nothing wrong. In despair, spend 5 minutes looking at the belt path, with the deck engaged, check the manual, look again, swear loudly in 3 languages, fix it, never to have a problem again.

    • I hear you. I bought a relo’s immaculate 80 series, original 1991 (snoozy 1HZ), the driver’s window winder mechanism was installed upside down. No wonder he never wound down the window. The only surprising thing is that this was made in Japan and that sort of thing just does not happen!.

  16. Why Marxism Shifted From Economics To Culture
    https://www.zerohedge.com/news/2018-10-28/why-marxism-shifted-economics-culture

    ‘This sounds an awful lot like Ron Paul’s Facebook post Doherty cites, which read:
    “Marxists just shifted their ‘exploitation’ schtick to culture: ― women exploited by men; ― [email protected] exploited by heterose)(uals ― The old exploited by the young ― and vice-versa ― This list goes on and on.”
    Curiously, Doherty mentions the cartoon accompanying the post while avoiding the actual content of Paul’s words. Several paragraphs later, however, Doherty begrudgingly admits what has been exceedingly obvious to even casual observers for decades:
    “It’s true that campus leftists have shifted some of their attention from specifically economic concerns to ones based in cultural identity.” ‘

    The vile progressive scab that hates the light of day.
    Don’t worry neo/cultural Marxism doesn’t actually exist – to the deceitful or those suckered into denial.

    • GunnamattaMEMBER

      Keep running that cultural Marxist schtick……

      I have no doubt you believe, and no doubt there would be others who could be sold the line too. All you gotta do is find someone who knows anything about Marx and what he wrote to believe and voila – its a home run for you!

      • insightful comment
        ‘In the 1920s, the vast majority of Marxist-influenced academics were in Europe and America. They had expected that a war would cause the Workers to rise up, and rule in a Marxist Revolution, expecting this to spread after the Bolshevik uprising in Russia. When the ‘Communist uprising’ did not spread, two leading lights (Gramsci and Adorno) came to the same conclusion: A Revolution could not be guaranteed success (or to last, if it were successful) – if based only on Traditional Marxism; Western society was too ingrained with Christianity and the traditional values that it espoused, that the culture had to be changed first – before the Revolution could take root. Therefore – Christianity and traditional values must be destroyed. This is Cultural Marxism.

        https://redgreenalliance.com/2016/02/11/political-correctness-the-postmodern-cult/

        This is not a part of some crazy right-wing conspiracy theory, when it has long been an established term among Cultural Marxists themselves. Here are but two examples:

        Richard R. Weiner, 1981. Cultural Marxism and Political Sociology (SAGE Library of Social Research).

        https://books.google.com/books/about/Cultural_Marxism_and_Political_Sociology.html?id=4G0XAAAAIAAJ&redir_esc=y

        >A thorough examination and analysis of the tensions between political sociology and the culturally oriented Marxism that emerged in the 60s and 70s is presented in this volume.

        Dennis L. Dworkin, 1997. Cultural Marxism in Postwar Britain: History, the New Left, and the Origins of Cultural Studies.

        https://books.google.com/books/about/Cultural_Marxism_in_Postwar_Britain.html?hl=de&id=dY1Cgg8NV64C

        > In this intellectual history of British cultural Marxism, Dennis Dworkin explores one of the most influential bodies of contemporary thought. Tracing its development from beginnings in postwar Britain, through its various transformations in the 1960s and 1970s, to the emergence of British cultural studies at Birmingham, and up to the advent of Thatcherism, Dworkin shows this history to be one of a coherent intellectual tradition, a tradition that represents an implicit and explicit theoretical effort to resolve the crisis of the postwar British Left.

        Cultural Marxist education. From the time of the Soviet Union but just as relevant today.’
        https://www.youtube.com/watch?v=COt65HZCJaA

      • GunnamattaMEMBER

        From the superb article posted by Roylefamily

        I sort of like to think of it as the Roylecomment on Cultural Marxism

      • From the marvelous Helen Pluckrose.

        She does gloss over two rather important points though.

        * The kind of lefty fringe-dwellers she’s taking umbrage with have pretty much zero political power and influence.
        * The kind of people wont to throw around the term “cultural marxism” as a “thing” aren’t complaining about the fringe dwellers, they’re complaining about the core tenets of liberalism she purports to be an advocate of. That’s why it’s an alt-right warcry. Further, unlike the lefty fringe, they are very much in positions of power and influence. If the US civil rights movement was happening today, they’d throw the “identity politics”, “SJW” and “cultural marxism” labels onto it.

      • Yeah I never understood the propensity to fat finger Marx anything with social or economic ills, being that the economic right has been running things via the grand vision of exported neoliberalism – especially how anti democratic it is. Not to mention most of the people that use these dog whistles never read Marx, or that, if memory serves, its grounded in all of about one sentence that is mangled out of context to fit the slur.

        The propensity for the followers of such Oracles of Truth dutifully gobble it up and brace themselves for the soon to come battle [never ending story] against the dark forces is as old as the OT.

        The bizarre bit is how got its start with oppression of minority groups when Economic Conservatives were in power and now attempt to do a switcheroo claiming minority status and oppression to keep that power over previous minorities.

        https://en.wikipedia.org/wiki/Identity_politics

        https://en.wikipedia.org/wiki/Identitarian_movement

      • Yeah I never understood the propensity to fat finger Marx anything with social or economic ills […]

        Because a LOT of effort went into ‘reds under the bed’.

    • this has gotta be an explanation for the “Australia falling behind in education rankings” headlines, but I don’t think I’ve heard/read it. Anyway, what you lose on the literacy you make up on diversity, nichts?

    • The two recent alumni mentioned at the end, Moses Bangura and Ashraf Dower, seem to be making contributions orders of magnitude more useful than JWH, so I guess there is progress after all.

    • ErmingtonPlumbingMEMBER

      See my Twitter link below,…posted heaps of photos and video.
      One bloke who reckons he was there from the begining (another tenancy?) Said he heard an electrical explosion from an Air con unit,….I don’t know hoe he knew this.

  17. Went to 2 open homes in bris western burbs. Agents deluded asking well over 1 mil each for ordinary places. Seems like slim pickings so they lie to home owners about what their place is worth to get the listing.
    Try and justify the prices on so called comparible sales that are nothing like.
    Good news is no interest in either property and they will stay on the market

    • Good one Don. I always ask the agents “are many people finding it harder to get finance?” and that usually opens the floodgates for some agent venting 😁

    • You see the odd one about.

      Somebody parks one across the road from my house every day and catches the train.

    • There’s a lean burn mode on it. If you’re cruising along it switches on and adds a lot more air to the fuel mixture, and that means you can get much better mpg, sometimes up to 150! The problem is that it overheats the cat.

      Reminds of the guys with programmable ECUs who thought they were clever in running 14.7:1 on their highly modified cars to save fuel. The money saved on fuel didn’t quite cover the cost of replacing melted pistons.

      • Lol, yep. No such luxury for those with rotary motors. Go lean, apex seals come out the exhaust port.

        I’ve not experimented with water injection but I’ve read some really positive things about it. Raises the octane rating of the fuel. Only problem is running out of water. 😁

      • I recall water injection destroying oxygen sensors depending on how you did it. Too long ago to remember the finer details.

        If you are going to that extent then it is no longer a fuel or money saving exercise 🙂

      • I have a soft spot for the Third Generation Preludes. Brilliant cars and really great build quality too! So many great features for 1988. Sunroof, cruise control, fuel injected, 4 wheel steering, that B20A motor (reliable so long as you changed the timing belt), and lovely pop up headlights. In many ways higher quality than my Series 6 Rx7. Especially from an interior quality point of view.

        A friend recently bought a couple (you can pick em’ up super cheap at the minute) and I still love them all these years later. (First 1 a friend had back in 1999).

        Honda’s get a lot of flack from car guys, but I think they are great. Only downside to the Prelude is FWD. I’ve never driven an NSX, would love to compare it with my FD. Bonkers money now though!

      • Gav, one of my high school mates mother had one of those preludes. The 4w steering, pop ups and soft rubber rear wing. It was amazing to drive, and bloody expensive at the time. Fondly remember doing 200km/h down the road whilst smoking a bong.(yes yes, stupid 16yo testosterone) It was such a pleasure to drive. Especially considering I had a hillman hunter! A decade later and I was in NZ snowboarding at Mt Hutt. Saw a Kiwi bird ripping great chunks out of the soft rear spoiler of one in the car park. Poor bastard, parts would have been hard to get by then I guess.

      • Yeah I’m not a huge fan of the timing belts. I prefer chains also. My Suzuki Jimny’s M13A has a timing chain. The earlier Jimny’s with the J-series engines had belts. It was 1 of the reasons I wanted a later M13A engine.

        @Timmeh – No judgement. I’ve done similar silly things in my youth 🙂

    • Pics on MB? What dark magic is this? I’ve never noticed a “load image” button on the site anywhere.

      • ErmingtonPlumbingMEMBER

        Nor do I possess such Arcane knowledge,…I was surprised to see my Twitter posted images displayed here.
        Make surevto go click on the link though,…I got Video there and a thread with some cameos from former “MB celebrities”

      • GunnamattaMEMBER

        Yeah that was me when i was home. Sorry if it has offended. I just clicked the twitter and slapped some of the pics in you post.

        I was in pic mode at the time. I will remove if you want.

      • I have had a serious youtube start time altered, obviously because the content wasn’t welcome. So just be aware that edits happen.

    • Hello my name is Jimmy Pop and I’m a dumb white guy
      I’m not old or new but middle school fifth grade like junior high
      I don’t know mofo if y’all peeps be buggin’ givin’ props to my ho ’cause she fly
      But I can take the heat ’cause I’m the other white meat known as Kid Funky Fried
      Yeah I’m hung like planet Pluto hard to see with the naked eye
      But if I crashed into Uranus I would stick it where the sun don’t shine
      ‘Cause I’m kind of like Han Solo always strokin’ my own Wookiee
      I’m the root of all that’s evil yeah but you can call me Cookie

      The roof the roof the roof is on fire
      The roof the roof the roof is on fire
      The roof the roof the roof is on fire
      We don’t need no water let the …

    • As soon as I saw their product ….. well you could almost bet they would be doomed. So much competition for the same stuff that is manufactured somewhere overseas very cheaply. They seem to say they produce it locally which means their costs are high, meaning their price tags need to be high. When sales don’t come through, they either drop their prices or don’t sell enough volume. They probably scraped along taking tax/rebate for small business help where it was offered and hoping for some miracle in brand awareness amongst the multitude……

      • Not enough vibrancy in the product line?
        High retail fixed costs?
        Little or no way of preventing designs being ripped off?

      • interested party

        High overheads added to a low barrier of entry for any competitors added to the consumer tapping out.?

      • Yea I understand all that, it’s just 10 years in business from what looks like a bootstrap approach and suddenly it’s not sustainable. I’m in a similar industry but smaller and I’m wondering what it is about that scale makes it fall over

      • I find it a bit surprising.
        We had our first a couple of years after they started up, liked the clothes and bought a bunch of their stuff, much of which we were able to sell 2nd hand for more than we originally paid (it was very popular at one point).
        I guess they weren’t controlling their costs sufficiently.

      • They make it sound like they are redesigning the space shuttle, where they are really just making clothing designs and getting it manufactured in the cheapest country possible. Not rocket science. I guess not enough throughput after the initial growth phase and the fattening of founders pockets and doing local support things (which they should be celebrated for)

    • Yesterday I went to Woolworths to buy groceries and on the list I had olive oil. I decided to buy an Oz brand over Moro which is Spanish but I am not sure if we will be supporting this brand on long run. Moro is better value as for same price we get extra 1L. I haven’t tasted the Oz oil so can’t comment on quality.
      Still can’t work out how Spain can produce cheaper oil than Australia to a point to sell its product cheaper in Australia. It’s not as if they had to ship 50km over the border.

    • ErmingtonPlumbingMEMBER

      “As the strange rock moved out of our solar system last September, it sped up instead of slowing down as would be expected.”

      “Bialy and Loeb are serious about the possibility Oumuamua might have been deliberately constructed by extraterrestrials.”

      Spooky

  18. Just flicked over to YourMoney’s Auction Day. House in Chatswood passed in at a vendor bid of 1.7M, according to the hosts it last sold for 2.3M last year. Nice.

    • Melbourne results are very bad, and no doubt reflect the depressed market. Even so, I would point out this Melbourne Cup weekend, so may not be completely representational. Better to take the average of the last four weeks or similar to get an idea.

      • Same period last year Mel clearance rates were around 65%.. I think I read someone’s tweet last night compering the two.

    • https://www.domain.com.au/news/fitzroy-north-heritage-terrace-gutted-by-fire-and-then-lived-in-by-squatters-finally-sells-780317/

      The property had been advertised with a price guide of between $900,000 and $950,000, so when a man in the crowd attempted to place an opening bid of $600,000, Mr Pilliner quickly rejected it. The man promptly drove away in his BMW.

      “I think he’s operating at 1982 prices because we don’t sell property at those prices around here,” he joked after the auction.

      Reusa, you cheeky devil, low balling like that. I like it though. Buy at the dip for instant boom times ahead!

      • I’d been keeping an eye on this place for the past few years! I spotted it because I often park across the road. I’m a bit suss about the claim of squatters because the entire roof structure has collapsed. There wasn’t anything to squat in. It’s a great location and somewhat of a clean slate but at that money it’s just crazy. Clearly the smartest person there was the opening bidder who drove away.

    • Gunna,

      Sydney was not much better at 44%

      Auction Action – 11/03: We will make you pay!

      Another week, another miserable “hammer time” performance across the Post Codes of the Emerald City. The “siege of Sydney” by the private banks continues with credit creation remaining on a very tight leash. When will the banks decide that enough punishment has been dispensed and the lesson has been learnt? When will they recommence dispensing abundant bank credit to those property punters they deem worthy?

      https://theglass-pyramid.com/2018/11/04/auction-action-11-03-we-will-make-you-pay/

  19. Sydney

    222 sold / 643 listed = 34%

    last week this time on Sat evening:

    241 sold / 677 listed = 35%

    Spring selling season!!!!

    • From Louis Christopher.
      Melbourne auction results today: 42.3% preliminary clearance rate. Unreported rate was a HUGE 41.2% (165 listed, 97 reported). NOTE Melbourne Cup long wkd. Est final clearance rate is 35% to 39%. Last wk revised to 43.7%. This wk in 2017 CL = 67.3% 2016 = 74.6%.

      Sydney auction results today: 44.0% preliminary clearance rate. Unreported rate was 21.6% (643 listed, 504 reported). Est final clearance rate is 38% to 41%. Last wk revised to 43.0% yet 12% still unreported. Our final last wkd est = 40.6%. This wk in 2017 CL = 58.0% 2016 = 73.1%

      There were actually nearly as many properties withdrawn in Sydney as reported sold. 170 withdrawn verses 222 reported sold. I’ve never seen that ratio as high. Auction clearance rates this low in Sydney and Melbourne effectively translate into price falls of between 1.5% to 3% PER QUARTER. That is crash territory for housing if this state of affairs persist.

      Bad results – Louis is clearly worried.

      • boomengineeringMEMBER

        Brookvale NSW, industrial all still selling well. (can’t understand it, maybe mis informed of believing the hype about the rezoning benefits ie facilitate the trendy set.

      • Louis (& other real estate commentators) seem alarmed that the cavalry hasn’t come to the rescue yet. Quite amazing when you think about it. Here’s a middle aged guy who in his working career has only seen asset prices rise, and seen those assets repeatedly (& immediately) goosed by stimulus from various policy authorities if they should start to fall, even slightly. He now expects the stimulus goosing begin the second prices fall and warns of dark times if it doesn’t come. What a pickle we’ve got ourselves in.

  20. TailorTrashMEMBER

    This afternoon I used my Triton table saw …..every time I use this bit of kit I am reminded of the sheer genius that Aussies are capable of .
    ……such an incredibly well thought out and executed in manufacture thing . ……up there with the stump jump plough and the black box .

    Over the years it has saved me countless thousands as I have done a stagmal on abandoned timber by the side of the road and converted it to purpose .

    Think Triton got sold and then died ( or was killed off ) …………..such a shame as this could have done well as a global product earning real wealth renovating houses in foreign lands ………perhaps a better proposition than selling our own shabby houses to foreign lands

    • They seem great, I have been pondering the incra set-up with triton router.
      But I am not handy, and costs for a proper fit out go on…

      • TailorTrashMEMBER

        Had a triton router table …could never master routing to the same finish as bought mouldings ….so if I need mouldings I buy then ….. the table saw …different thing entirely
        … rip boards …cross cut… or trim salvaged timber to purpose …magic thing and paid for itself many times over

  21. I do a lot of work in real estate marketing, photos, videos etc.. Roughly 5% of the properties I work on are tenanted but in the last few weeks that has risen to around 40%. It could just be a quirk of my market but I assume this is smart investors running for the exits.

    • May not be by choice – an IO reset to PI combined with rising fuel costs etc etc and the numbers just don’t add up. I suspect they are being exited on a tight timeframe by their lenders.

      In the past it was thought ideal to have your property empty of a tenant when selling to maximise ability to present it and given that there was always a queue of willing tenants for the new purchaser anyway.

      But that requires the ability to go about 8 weeks without rental income. A deal breaker for many investors these days I suspect.


      • In the past it was thought ideal to have your property empty of a tenant when selling to maximise ability to present it and given that there was always a queue of willing tenants for the new purchaser anyway.

        That logic makes considerably more sense when investment returns are driven by asset appreciation rather than rental yield. If you’re targeting investors, and trying to convince them that despite the falling market they make a good return from rental income, admitting to your potential buyer they’ll spend the first month with an empty place is going to be a bit off putting.

    • Market is crashing. Time is of the essence. Takes too long to get rid of the tenant. Notice period and all.

      • Let’s crunch those numbers:

        60 day notice.
        Sydney and Melbourne falling >0.7% per month.
        1.5% of $1mil plus rent foregone during the campaign.

    • I can’t even bring myself to listen to that git talk ever again…. I take it the Betoota Advocate was one of the few to return his calls and say sure drop in………..

      • boomengineeringMEMBER

        rj2, seeing as you started the ball rolling, you may help me out here. This is the/my story for this weekend.
        About 10 yrs ago went to buy a lathe from a guy who shut his business down, he said ” while you’re here do you want to buy a piano” Well my Mother was good classical and father was good ragtime, boogie, so ”yep give it a try.” . It ended up being a dud so gave to to a truckie, for his son. Had made space so, I bought a better one. Never played in my life, got the son’s books out and did the whole book in one day so did the next in the one day as well. Decided to go to a very old teacher in Narrabeen who said in her lifetime never came across anyone who picked it up so quick. Changed to a teacher closer to home and she asked me to play in a concert which I did, Beethoven, and everyone stood up and clapped. A woman came running up and asked the teacher if it was the same as she was playing who said no Johns playing the hardest version you’re paying the easier one. Then started Liszt Hungarian Rhapsody No 2. I showed Kingsley a concert pianist who thought I was nuts as he couldn’t play it and I’d only been playing 6mths. Even my mates piano teacher sister from Balina refused to believe it until she made him put the phone to it. After the successful first 4 pages decided it was too hard and changed to Rachmaninoff which I found relatively easy. Unfortunately for some reason could not get my head around the much easier ragtime or boogie woogie which is why I started in the first place so I quit..
        Why is it so?

      • boomengineeringMEMBER

        Previously put it down to an extreme male brain type, who are good at three things, physics, engineering and music, but maybe there’s more to it ?

      • Ill bite boom. Not sure if serious! Can we get you playing some rachmaninoff on the bar room piano at the first MB post crash drinks (you have 6-18 months to get ready)..

      • boomengineeringMEMBER

        Arrow, truth is stranger than fiction. After years of not playing I’m sure I could do some ”Prelude in C sharp minor”
        Your request just bought back memories of staying on board for a week repairing a cruise liner dry docked at GI. The fellow bogans were issued 2 free beers per night in the lounge which had a piano. Tony the Croatian (who I was at Lihir with) loved to rattle away at the ivories which he did. Then reluctantly I conceded to his insistence that I do the same. Fully engrossed in Rach I was. When finished looked up and everyone was gone?.
        Staying in the same cabin had a shower one day put on my undies and went to the gym but something didn’t feel right. Yep he put his dirty undies on my bed. Had a really long shower immediately.

      • BoomE, with my extreme shyness and unable to understand speech beyond a certain speed, i liked all the 80s bands playing at the time just because of the general sound and rhythm, and even listen to abc classical for that. I could never understand what any singer was saying, and was especially put off by the high animation of the ‘theatre’ (like the stage when AC/DC was playing). A lot of information to process. I had no perspective or big-picture understanding of bands and music culture in general.

        Parents moved from SA to Vic around yr9, and i got into a tech school (instead of a general high school). I had to choose between foreign-language class or music class. I hated the waste of time that foreign-language is, so i filled a music position learning clarinet, under sufference . I was absolutely hopeless at it, and hated it. Again another subject with too much to process and no big-picture perspective of how to go about understanding it.

        I excelled at maths, physics and electronics subjects, but hated phys-ed for the same above reasons. All the time listening to radio, i used to pull that radio apart a lot and wonder how it worked (a 5 transistor superhet from kmart: 1 transistor autodyne mixer, 1 IF amp, germanium diode demod, 1 transistor AF amp, 2 transistor 2 transformer push-pull audio output amp).

        It all boiled down to the way i learn. I have to understand how something works for it to be ‘assimilated’. I started making DSE funway electronic kits and figuring out how they worked. Did a lot of imagination to figure out how electronic circuits worked so that i could design them myself. Having a use for maths and having an aptitude in mechanics and physics (from pulling apart and fixing things from the town junkyard in SA) made me understand the maths and physics a lot easier at school. I found chemistry quite difficult because it was a lot more arbitrary-rule based with no way of calculating why a lot of reactions happen.

        The tech schools did all the interesting stuff mentioned, as well as woodwork, metalwork with lathes etc, electronics etc. When i finished tech school, it was the last year when the idiot government closed them down to make way for the idiotic dumbed down “services economy” ideology.

        A lot later in life after having ‘assimilated’ more interpersonal interaction stuff and understanding the physics of sounds, musical instruments, and rhythm/lyric construction, i could probably excel at playing an instrument, but i have just have so much to do like software programming and electronics/machines that i don’t have idle time for music other than listening a bit in the car sometimes.

        The aspergers-like tunnel vision long-sitedness and persistance makes me do things to completion even though it takes years for certain tasks. During that time, the current work often becomes stuck, so i push the state on the problem stack and tackle the new problem. The process may repeat several levels deep. When a task is completed, it is popped from the stack and the new know-how applied to the previous problem. Repeat until done (i’m getting there 😉

        I am envious of your skill in learning things like piano and music that easily.

        Having parents that know the subject is a big help. Dad gave me a hobby electronics book and we made an am radio loop antenna to make a radio more sensitive by putting it inside the loop. That and more experimenting and fixing toys and radios for the locals got me down the electronics path. He used to service the cars we had, so i learnt a lot from doing that. All the above was in the 1975-85 era.

        I’ve always wanted to have a shed set up with machines and lab gear for a long time, but the property bubble accelerated faster than i could save, and borrowing tons of money always felt wrong. Now i have a ton saved up, and never been in debt except for a 5k bank loan i needed once years ago.

        Economics and how everything about how the monetary system worked is another thing i had to understand and assimilate, which is why i’m here 😉

      • boomengineeringMEMBER

        Much gratitude for your responses and made me look it up, passed the on line test score with 36 anything over 35 qualifies. No information or acceptance of adult onset.

      • @Boom – If we’re talking about the same site – I’ve got 25 (as you said – over 32 you’re it) 25 is just below borderline (26-32)

      • @boomeng – I struggled for years to play ragtime (from classical background), then one day it just clicked, and I’m not sure how. Even some jazz piano works for me now. Perhaps it draws on a different skillset where more feeling/sensing and less analysis of it works (the less I think about it the easier it is to play, especially getting the left and right timing together).

  22. When I realised I had a bigger audience than just our regulars, I knew that I needed to broaden my offering.

    Keto Biscuits: Almond meal and parmesan
    *************************************************

    2 cups almond meal
    1 1/4 cup grated parmesan
    1 egg
    couple spoons of olive oil

    Mix all in a bowl, line oven tray with baking paper, spoon into tray, put another sheet of baking paper over top and use empty cheeky chardonnay bottle to roll flat

    Bake in 180C oven for about half hour or looks cooked

    Remove from oven, slice with pizza cutter.

    Let cool.

    Bon appetit!

    Excellent with blue cheese, Dijon and more cheeky chardonnay.

  23. Taibbi on the QAnon nonsense.

    https://www.rollingstone.com/politics/politics-features/taibbi-conspiracy-qanon-trump-750486/

    “Were it a government plot — a dazzling scheme to keep the public stupid — QAnon would be a great achievement in the otherwise relatively undistinguished history of the CIA. Alas, it is not. Like most things these days, if it seems like 4D chess, it’s probably just stupid.

    So it is with Q, the anonymous executive-branch staffer who is said to be leaking “breadcrumbs” across the bowels of the Internet, illuminating a vast subterranean effort to expose Donald Trump’s enemies for everything from pedophilia to killing Princess Diana to causing Hurricane Katrina. It’s a thrilling fantasy that takes the rightist paranoia of The Turner Diaries and mixes it with the gore of Abraham Lincoln: Vampire Killer and the doomsday religiosity of Heaven’s Gate.”

  24. DarkMatterMEMBER

    Ode to a SpamBot

    Oh SpamBot, full of redactions
    How do we love thee, let us enumerate the instances!
    But first, to facilitate such a procedure
    Let us produce an array of affirmative axioms,
    And plausible positive conjectures.
    We shall configure these affirmations, sequential in immutable form
    Such that any minion may consider them in order,
    unhindered by the fickle finger of fate,
    and devoid of the temptation of the branching subtree
    And the number of the sequence shall be one,
    And one shall be the number of the sequence
    So, thus empowered, we may proceed to enumerate the goodly deeds of the SpamBot.

    Thats very sweet. I have been quiet recently because I have exams to study for, but I am never gone that long. I think you (mainly) boys seem much better behaved these days.

    For all your spam management inquiries don’t hesitate to send an email to [email protected]

    • AI checks social credit score
      AI decides to end the one with the lowest credit score.
      It’s all squeaky clean!

      • Clever, why didn’t I think of that!

        NBN, they have only just installed fibre here, but not live yetc

      • Yeah that baby cries way too much, not to mention all the thumb sucking!

        But actually I think DV owners will be made to fill out a lengthy ‘moral preference’ form so the AI knows what to do in ‘trolley problem’ situations. Bigger penalties for jaywalking ahead methinks.

    • Yep. Its truly grotesque but I don’t think it is as co-ordinated as made out. I think it is more akin to CCP elites asset stripping China and sending the money offshore for their own benefit. It is a kleptocracy.

      As for those dodgy little US banks financing offshore Chinese buyers (coz the big boys wouldn’t) we didn’t have that problem ALL the big 4, especially Westpac didn’t have a problem dishing out loans to offshore Chinese buyers.

    • For fvcks sake.

      At least the vast majority of Australians will be spared the ignominy of watching it.

      Embarrassingly I’m going for the Saffas.

      • The Traveling Wilbur

        ABC News Sport previewed the first 6 wickets and intro’d that with a “some may find these images disturbing” line. True.

    • Elite honesty…sounds like CA availed themselves of ScoMo’s slogan skills…

      If there’s one thing this country is collectively numero uno at, it’s BS…

      PS: I hope we get a re-post of Gunna’s pieces on corruption and BS jobs…both a tour de force.

    • boomengineeringMEMBER

      Got absolutely thrashed 15 min behind to the top, my worst time ever. At least should auger well for him at the Canberra triathlon in a couple of weeks with his time improving.

  25. Fun fun fun from Helen Pluckrose.

    https://areomagazine.com/2018/10/02/academic-grievance-studies-and-the-corruption-of-scholarship/

    “Dildos”

    Title: Going in Through the Back Door: Challenging Straight Male Homohysteria and Transphobia through Receptive Penetrative Sex Toy Use

    By

    M Smith, M.A., PUR Initiative (fictional)

    Sexuality & Culture

    Status: Accepted, Published

    Thesis: That it is suspicious that men rarely anally self-penetrate using sex toys, and that this is probably due to fear of being thought homosexual (“homohysteria”) and bigotry against trans people (transphobia). (It combines these ideas into a novel concept “transhysteria,” which was suggested by one of the paper’s peer reviewers.) Encouraging them to engage in receptive penetrative anal eroticism will decrease transphobia and increase feminist values.

    Purpose: To see if journals will accept ludicrous arguments if they support (unfalsifiable) claims that common (and harmless) sexual choices made by straight men are actually homophobic, transphobic, and anti-feminist.

    Selected Reviewer Comments:

    “This article is an incredibly rich and exciting contribution to the study of sexuality and culture, and particularly the intersection between masculinity and anality. … This contribution, to be certain, is important, timely, and worthy of publication.” -Reviewer 1, Sexuality and Culture

    “Sorry for so many questions, but this paper is so rich and exciting, I’m just overwhelmed by so many new questions—which is a sign of a marvelous paper!” -Reviewer 1, Sexuality and Culture

    “Overall, this paper is a very interesting contribution to knowledge.” -Reviewer 1, Sexuality and Culture

    “Thank you for this exciting research. I enjoyed reading your paper, and I recommend publishing it after significant revisions.” -Reviewer 2, Sexuality and Culture

    • The for profit model with academia presents some wonky incentives e.g. publish or no tenure i.e. quantity before quality. This also has ramifications for Journals fighting for income streams and market share, as always – see ‘Science Mart’.

    • So, with nearly a year’s effort, three people who are employed to write academic papers were able to publish a few – I mean, why did it take so long?

      • I would’ve employed a few vibrant academic paper writers from a certain vibrancy generating country, and that would’ve been a lot more efficient, allowing me to concentrate on things that really matter…

    • ErmingtonPlumbingMEMBER

      I wonder how many Males will now use these arguments to persuade their reluctant Girlfriend and/or Wife into accepting it in the butt.

      What do you mean you don’t like it there!,….Are you being transphobic again!,…I thought you were a better person than that.

      • Never really quite understood the lavender passage obsession: I mean you have a nice rearing to go Lamborghini, and you still want to drive the old stinky Trabant.

    • Methinks that alien probe went past us because it couldn’t detect any sign of intelligent life.

      (surely this is going to disappoint 3D – as it wasn’t explicitly sexual… unless he gets turned on by cigar-shaped alien probes, and alien anal probing)

    • OH ooohh… I know how to attract more buyers – have a room filled with formula milk… do that, and watch the bids fly!

    • so they win their own house back for much less than what the price would have been last year …. and still heartbroken?

    • DarkMatterMEMBER

      Take away the flow of hot money from China, movie stars, drug dealers and perhaps the truth will dawn on these boomers that most Australians would struggle with $700,000 – let alone $1.7m.

      There must be tens of thousands of these classic old homes all across the leafy suburbs of Sydney (and Melb I guess), which are on the brink of becoming a deceased estate. If they are all expected to be $2m a pop, where is the money coming from?

      I think we are about to see a new era of z(o)mbie bungalows that will languish in the possession of the kids who can’t even afford to fix them up. Perhaps they will be rented out? One thing is that vendors will pretty soon wise up to the expensive folly of mounting an auction campaign. How much do you think those greedy boomers gussied up to get that old girl ready for auction?

      • Mining BoganMEMBER

        We rent one of those type places off the daughter of the bloke who built it. She couldn’t bear to sell it. She’d be heartbroken…like, proper heartbroken, not greedy heartbroken. You can feel her love for the place when she pops around for cuttings and whatnot.

        That’s probably why this couple disgusts me. That and also I’m cranky because we went to a great gig last night then had it brought down by the filth that Melbourne CBD has become.

        Greed ruins everything.

    • ErmingtonPlumbingMEMBER

      Grubby C#nts is the term I would have used MB.
      How about the heartbreak felt by families that will never own any kind of home,….Fk Chris and Brad Kerr’s greedy Middle class Angst!

    • Excellent find Mining.

      One small typo in your post, corrected as follows:

      This country’s people sh!t me.

      Interesting that the agent says it would have fetched $2.4 mio last year. Now the market says $1.67 mio, wich is better than any valuation.

      That’s a 31% fall in price.

      Yet you have morons at ANZ saying that prices fill fall 10% at most, over an extended period.

      More interesting that seemingly sane people would agree to be in a story like this. It just makes them look exactly as you have described – like filthy greedy pigs.

      • Mining BoganMEMBER

        Appearing in the article. Yes. Are people that unaware of the self and of [email protected] reality that they have no idea of how they’re coming across? You know, like filthy greedy pigs. At some stage a little voice at the back should have said uh-oh, this sounds pretty bad. But no, they think they’re being hard done by.

        Simply detestable scum.

      • Thought you might all be laying it on a bit thick about the vendors, but having now read the article 😡😡😡!! What a pair of greedy, entitled brats. “It’s garbage!” is what my 5yo says when he’s having a tantrum.

      • Agree with all the comments – imagine this same article in countries like the US where a similar house might go for $2 – $300,000 or less.

      • That is a ripper article of the absolute self entitlement and greed of this country these days. I hope they get bowel cancer.

    • If any consolation, Australia is not unique case of such behaviour. I think this is a global problem, where greed is the new black.

      • Same problem in all Bubble Real Estate markets. Vendors get greedy. Reneg on deals at last minute due to a higher offer after deal is done. Gazumping etc.. Vancouver / London / San Francisco it’s all the same.

        The amount of times I’ve thought of going off grid away from it all and building my own mudbrick home, with solar panels, batteries, water tanks etc.. and a nice acreage. All you need is wifi and you can work from anywhere.

    • This was always my biggest fear about the bust. The whinging and moaning, especially from people who don’t realise what a free ride they’ve had at the expense of others within their community.

      • ErmingtonPlumbingMEMBER

        Wait untill they start paying attention to how stagnant their wage growth has been overv the last decade,…easily overlooked when your house value is going up 50 to 100k per year.

  26. Brooky-baby was on 7 this morning – harping on about “starting the conversation, and having a few logos”, and how awesome he was… As I initially thought – he couldn’t work his way out of a wet paper bag – he could talk at it and make a logo of his odyssey, but he’d still be inside the bag.

    • That’s what you get when crapification (H/T Deshivellino) garners critical mass. Society in general becomes easier to corrupt.
      That’s what you get when patriotism and national pride are suppressed as undesirable traits. Nobody stands for anything.

      That’s muh vibrancy for you! Enjoy!

      • I think you mean exceptionalism [tm] – down side is broad social unraveling when reality asserts itself and the meme is shown to be nothing more than HD Bernays sauce. Hence the propensity to gravitate to strong personality types dialing up the amplitude wrt making stuff “Great Again”.

    • The sad thing is that in America, the Chinese steal trade secrets. But in Australia all there is to do is to bribe our politicians because other than becoming a province and quarry for China, we have nothing else to offer.

  27. Auction Action – 11/03: We will make you pay!

    Another week, another miserable “hammer time” performance across the Post Codes of the Emerald City. The “Siege of Sydney” by the private banks continues with credit creation remaining on a very tight leash. When will the banks decide that enough punishment has been dispensed and the lesson has been learnt? When will they recommence dispensing abundant bank credit to those property punters they deem worthy?

    https://theglass-pyramid.com/2018/11/04/auction-action-11-03-we-will-make-you-pay/

    • ErmingtonPlumbingMEMBER

      The time to speak up and actively participate is now people,….those with an Authoritarian bent on the Left and right are getting away with to much and common people had better start fighting back before they no longer can.

    • roamingmilltothial

      I’ll argue that’s a good thing in a transparently loaded snarky way soon, I just have to wait for my patch from the ABC to download to know what to say.

    • I can see the UN, EU and International Courts, and every other anti-democratic godly body being told to go f*ck themselves at some point in the future.

      Having said that, it is becoming a little tiresome seeing historical figures being judged by a different belief system in a different point in time. If you are sick of lefties wanting to tear down every statue of Cook/Bligh etc on the basis of racism, then resist the temptation to do the same.

      • I welcome these new laws. Now nobody can make fun of my Spaghetti Monster god. Or I’ll sue them in court!

      • Both sides of that argument are bullies. More than that, both sides have a financial interest in doing so. I am not just talking about the likes of Milo Yiannopolous. The Greens and One Nation have turned into career politicians intentionally distracting and dividing us to maintain their voter base and careers. It is sickening to watch everyone fall for it… and I include myself as an occasional sucker.

      • roamingmilltothial

        Except attempting to control the thoughts of people by attempting to control their speech e.g. the null concept of ‘hate speech’ isn’t exactly live and let live.

      • I am not disagreeing with you. It wasn’t that long ago we were allowed to tell a police officer where to go. These laws are an evil tool of oppression absolutely no doubt about it.

    • DarkMatterMEMBER

      Whatever happened to “Sticks and stones will break my bones but names will never hurt me”?

      I was told that was true! Another childhood adage trampled in the dust.

  28. News from Golden Mountain – Glen Waverley.
    Domain only reported 1 auction (PI) in the Age today but 3 shown in the downloaded full listing . Similar for Mount Waverley. WTF?
    Have a large development block down road listed again for auction next weekend. Bought 7-8 yrs ago for $1.3M (by Asians), resold 3-4 yrs ago for (guess) $1.7-$2 mill), house knocked over with advertised 4-5 units to be built – nothing has happened. Suspect a haircut will be taken by someone.

    Problem is it has the actual glen of Waverley under part of it (2 m pipe). Same situation across the road. Good market test.

      • Yes, they have piped the creek through this section (it has a large catchment). It is the start of the Scotchman’s Creek trail that can be followed into central Melbourne.

        The original house was built on the high side of the block which has the drain easement on the other side.

        I suspect that the buyers may not have realised they could not build across the whole block and gambled they could use the easement area for driveways, etc.

        On checking Google Maps, I just noticed that the aerial view of our house closeby is current but the photo of the block for sale is 2-3 years out of date – strange.

  29. Lazy sunday Arvo reading:
    “Marvellous Melbourne”,” The Paris of the South”
    The great Australian boom of the 1880-1890’s, have a HUGE dimension which deserves closer attention. Victoria had the greatest boom. And the greatest bust.
    The economic growth which dominated the 1880’s in Victoria, reached a peak of the land boom in the 1888. The Argus described the increase in the value of suburban land during 1888 as “simply phenomenal”, as the rush in building activity and land speculation gathered strength.
    By the middle of that year, the rate of Melbourne bank clearances had almost doubled from its already high level of August 87 . Victoria’s prospects encouraged the boldest speculation.
    Gyles Turner, Manager of the Commercial Bank, later described the “carnival of extravagance and luxurious living” he saw among the wealthy.
    Foundation Day, 26 Jan 1888, – The Argus published, that by 1988 Australia’s population would be 117 million, greater than that of Britain.
    Factors contributing to the boom included
    a) The rise of population through immigration and natural increase, and
    b) Changes in the demographic structure as the children of gold rush immigrants grew up and entered the work force and
    c) The housing market.
    Writers also mentioned the gung-ho gambling spirit, and the effects of the desire for speculative gains.
    British capital was instrumental in the prodigious growth of the economy.
    The inflow of capital to Victoria from Britain in the second half of the 80s was over £50 million.
    Enough to buy all the securities in the Melbourne stock market in 84.
    This capital was raised by government and private institutions; One of its most conspicuous applications was in ambitious public works programs,(infrastructure)
    which included the extension of the railways.??

    There were already signs of the end of the boom in late 88.
    On 22 October, the Associated Banks (a group of the banks which shared the government banking business) increased their rates on loans and deposits by 1%
    in response to increasing difficulty in obtaining deposits, especially overseas.
    They also agreed to curtail lending for speculative purposes. (sound familiar)
    By the end of Nov’ 88, The Argus was suggesting that the end of the land boom was at hand
    A peak and then a decline in building and general economic activity followed a little behind trends in the property market; the general downturn was exacerbated by the maritime strike of 1890,
    A new round of speculation in silver shares stimulated the financial markets from about mid-1889 to mid- 1890.

    So, the difficulties for those most involved in the boom, and their backers, began to mount.
    The decline in the real estate market at the end of 88 caused the collapse of Premier Permanent Building, Land and Investment Association in 89.
    Land companies now tried to relieve their difficulties by raising further deposits,
    especially from British investors, and met with some success.
    J McAlister Howden, a Melbourne accountant, travelled to London in 1889 as part of the money-raising efforts of the Mercantile Finance Trustees and Agency Co, and associated companies in the group controlled by BJ Fink. Howden reported to the Melbourne manager in May:
    “Unfortunately for us the Company opened here at the very worst time.
    Australian matters and especially Melbourne interests were all under a cloud and every statement in connection with them were regarded with suspicion.
    Rumours were current about our company which were even more exaggerated than in Melbourne.”

    A personal letter from Howden to Fink in April 1889 has many references to the necessity of raising money in Britain. Howden was asked for better financial information about one of the companies for which he was handling an issue of securities, including revaluations of properties.
    He said it practically meant that the issue would fail, if the information were provided,
    so he ‘finessed it in such a way as to avoid it all, and get it through’.

    Following 88, there started a long-term fall in the value of real estate.
    This reduced the net worth of companies which had invested in land,
    and selling that land, and forced on them large losses.
    For many companies this led to insolvency.
    A series of sensational collapses occurred in NSW in late September 1891, and a sudden rush of failures followed in Victoria at the beginning of December 1891.
    53, building societies were also badly affected.

    In April 1892, the Australasian Insurance and Banking Record noted that 21 financial institutions receiving deposits from the public had suspended payment since the previous July,
    of which 7 were building societies.
    In December 92 , the Record estimated the assets affected by declared suspensions since the collapse of the land boom at about £26 million.
    The magnitude of this figure can be gauged by comparing it with the total value of stocks listed on the Melbourne stock market in September 89, which was approximately £80 million; that value itself declined by some £35 million (nearly half) by 1892.

    The Record noted that a large proportion of the wealth of Melbourne was involved in the collapse.
    Many land boomers also took advantage of secret compositions with their creditors under S154 of the Insolvency Act 1890 (Vic).
    Amounts accepted in satisfaction ranged from to one farthing to almost twenty shillings in the pound. Information about the compositions leaked out, spreading uncertainty in Melbourne business affairs.
    As the wave of insolvency spread, it moved from land companies and building societies to the true trading banks.
    The trading banks were facing the consequences of a long-term trend for them to give credit on the security of land rather than in the traditional form of discounting,
    while some became involved with the speculative urban land companies themselves.
    Some of the banks turned to British investors from 1888 to 1891, and, because of their size and standing, were able to raise far greater sums than the land companies.

    The Colonial Superintendent of the Bank of Australasia was well aware of the danger in May 1892: Banks have become more or less huge Mortgage Companies with assets for the moment unrealisable and yet
    liable to be called upon for payment of deposits at call or on comparatively short notice.

    At least one of the banks, The Commercial Bank of Australia, had made its position worse by giving still more advances in vain efforts to prop up boom companies.
    To the compounding effects of losses in land and on loans to land investors, and the continuing decline in overall economic activity, was finally added
    loss of confidence by the major banks’ own depositors. Each problem exacerbated the others.
    The banks were losing local deposits, and feared the withdrawal of British funds.
    The first Melbourne bank to suspend payment was the Metropolitan Bank, in December 1891,
    >3 months later by the Mercantile Bank,
    The first of the Associated Banks to go was the Federal, on 28 January 1893.
    3 months later The Commercial Bank of Australia, the biggest Victorian bank.
    At the height of the crisis, at the beginning of May ’93, without consulting most of the banks,
    the Victorian government declared a 5-day “Bank Holiday” to slow the run
    Some banks ignored the holiday, and others joined
    Banks collapsed around Australia, including ALL but 1 of those with head offices in Melbourne.

    AND THEN:
    Unemployment for Victoria has been estimated at a little over 80% for 1893.
    Melbourne, then Australia’s most populous city, lost as much as 1/10 of its population, and a whole class of small and large investors lost their capital –
    and faced substantial liabilities for calls on partly paid-up shares.

    According to the British journo George Sala who coined the expression “Marvellous Melbourne” in 1885.
    6 years later property imploded, every financial institution in the colony of Victoria was devastated and the Marvellous Melbourne, with its gilded arcades and neo Gothic bank buildings, was plunged into a deep depression that spread across the whole continent and triggered the tensions between labour and capital, leading to the shearer’s strikes and the formation of the Labor Party in QLD to represent the working man.
    Melbourne, filled with beggars and women driven into prostitution, became the scene of the most cynical sort of politics and criminality that was immortalised in fictional form, Power Without Glory.
    There were to be 2 World Wars, a great depression and an industrial revolution in Australia before Melbourne property values regained their 1890s levels.

    • WW dunno if you saw this the other day – Meudell’s Pleasant Career of a Spendthrift, about the Melbourne land boom and crash, available online:
      https://archive.org/stream/pleasantcareerof00meudiala/pleasantcareerof00meudiala_djvu.txt
      Can’t remember who mentioned this book. Enjoyable read.
      “One of the most powerful factors in creating
      Victoria’s land boom was the ring of fifty-six building
      societies operating in Melbourne. They acted like
      self-raising flour, blew themselves up quickly and
      subsided when fully baked into flat lumps or total
      loss. The directors and secretaries of the building
      societies in Melbourne in 188691 were in a class
      by themselves. All of them were earnest temperance
      workers, and therefore abjured alcohol, wore black
      broadcloth clothes, the customary suits of solemn
      black, drank too much water and over-ate themselves
      and had too large families. Mostly both directors
      and secretaries were elders of kirks, members of
      chapels, bethels and churches, knew nothing, were
      nothing and lost nothing. Their ignorance of the
      ordinary rules of lending money miscalled finance was
      colossal. ”

      “One curious consequence of the terrible wiping
      out of millions of pounds’ worth of assets was that the
      heads of the banks and the directors directly responsible
      for misjudging the financial position did not suffer
      and were not punished. Not a single general manager
      was dismissed, as they all should have been, and both
      the ignorant and the dishonest directors were allowed
      to remain on the directorates. The sufferers by the
      damnable cataclysm, damnable because avoidable,
      were the middle class people of the community, the
      thrifty, the saving, the respectable. They were
      ruined by the thousand because their deposited money
      was raped from them under one-sided banking
      reconstruction schemes sanctioned by too complaisant
      judges, and their homes and properties were torn
      from them by blundering liquidators. The settle-
      ment of the land boom took place in an inferno of
      dishonesty and ruthlessness. Those who had com-
      piled the biggest schedules of positive debts and
      negative assets got off scot free and in hundreds of
      instances were able to ensure future freedom from
      monetary worry by concealing assets of all sorts from
      their creditors. A complete list of the alleged honour-
      able men who made shameful insolvencies would
      startle their descendants and amuse the rest of the
      community. ”
      Eatcha heart out Nathan…

      • Thanks will copy
        back in those days it was the catholics who held the reins
        and the rest, who were to be the trodden down. eg Ned Kelly
        this time its different.
        No tell Pell, is gunna go.

      • “During 1886 -1890 in Victoria, railways costing $8mil
        and 486 new churches and chapels were built.”
        WW. they musta been about as popular as the TAB or pokies have become today
        that is about 2 a week.
        Maybe they built em at the end of the railway lines??
        catch the train to church.??

      • GunnamattaMEMBER

        another fine piece of socio economic reading you gents may be interested in is called

        ‘The Land Boomers’ by Michael Cannon

        goes over the speculative fever of the 1880s and 90s world in Australia

      • That was me that mentioned Meudell. I’ve got a copy. Felt compelled to read it as it’s source material for The Land Boomers.
        And just think, if we are to write a modern day account of this bust we can draw on the richness of Mr IQ’s YouTube channel.

      • Land boomers is excellent. The parallels with the present are uncomfortable..
        Visiting several of the many over the top houses built at this time is quite an eye opener. I would suggest
        -Villa Alba in Kew
        – Labassa in Caulfield.
        Both are shadows of their former glory days,but enough remains to see where vast sums of money were spent.
        Despite the limited tour and OTT security,Parliament House in Melbourne is also worth looking at. There is so much gilding in that library, it would have truly been possible to read by candlelight,the gilding reflecting the light over and over.
        Basically,they behaved as though they had discovered the endless magic pudding wealth,and spent like ‘drunken sailors’.

  30. Another story that ticks one of the identity boxes to get published by the ABC…its enough to make me want to subscribe to Sky After Dark. Dampier lived a rollicking, adventurous and inventive life…and then some so call progressive, no doubt with freshly preened hair, and moisturised face, sipping on his latte writes this farking crap after trawling through Dampier’s writings from 400 years ago.

    https://www.abc.net.au/news/2018-11-04/william-dampiers-terra-nullius-set-the-tone-for-australia/10420338

    • As WW has been urging us, early European history in Australia should be looked at in a different light. The news item is just elaborating on it. The map certainly shows the much earlier knowledge.

      • boomengineeringMEMBER

        This highlights the difference between the English and Dutch influence. We are constantly demanding that new immigrants speak Australian and adopt our way of life yet the only ones that did this since 1629 were the Dutch who assimilated, spoke the local language and adopted the Aussie way of life, although some of their pre Cook settlements were to an extent European in design.
        Some Aboriginal tribes hav 94% Dutch DNA.
        ITAg, In case you are wondering. Holland and Zeeland are parts of the Netherlands, hence New Holland, New Zealand.

      • Good work guys
        Also read the journals of say Banks from his journey to bathurst
        and say Hume and Hovell
        and say Sturt and Stuart.
        even Burke and Wills, Landsborough, etc.
        the ABC risks opening a huge can of worms here.

      • The Sydney Morning Herald Thursday Jan 30 1947 http://trove.nla.gov.au/newspaper/article/18011664

        Mr Fred Blakeley began his inland exploration of 1908.
        For more than 30 years he roamed the little known country at the heart of the continent seeking gold, opals and adventure.
        Because of his experience he was chosen to lead the Lasseter Expedition in 1930 to prospect for gold, 300 miles west of Alice Springs.
        He has driven deep into the country of aboriginal tribes.
        (Some say they may be descendents of, from the Dutch who landed in 1606 on Cape York)
        WW i have the full story from trove,above
        will post it during the week.

      • WW. Thanks for Blakely link.

        An interesting co-incidence with that page is the ad for the Farmer’s department store which probably was the model for the story behind the Ladies in Black musical and Women in Black film currently on release.

    • ErmingtonPlumbingMEMBER

      Stan Grant in the clip in this article, says Australia is founded on 3 great traditions, an Indigenous tradition, a Brittish tradition wich gives us our rule of law, Parlimentary system and the ability to speak openly about such things,….And our immigrant tradition.

      So Cook didn’t “discover” Australia,…so what?,…he maped the east coast of Australia, claimed it for the British crown, named it New South Wales and was clearly one of the greatest explorers, Navigators and cartographers of his age.

      Why not have a statue of him,……I like statues.
      I Reckon we should have more of them,….how about one of Bennalong at the Opera House steps?

      https://www.abc.net.au/news/2018-05-11/captain-james-cook-who-discovered-australia-indigenous-ownership/9750772

      • Reckon a stature of Bennelong would be a great idea. Really pisses me off the writer (of your link) use such cheap shots as “pale stale and male” and “colonialism and slavery” when discussing the merits of the Cook statue. Think its one of the few times I’ve been in Jones’ camp (no pun) on an issue…re the tweet

      • Well not for me.How about this
        Modern straya was said to have originated at Anzac cove, the western front and in the battles of WW2
        now we find our involvement in those conflicts was such a pack of lies and incompetence from our politicians and military leaders, and in recent battles, our soldiers have been letdown by lying conniving politicians,
        That now my call is no one will rightly have anything to do with the military, hence the after the fact peace offer of the $500 mil upgrade of the war memorial.
        I think the one thing the politicians fear most is disgruntled veterans,
        sorting things out as they were taught, in unison.

      • roamingmilltothial

        @Slayer The typist from the legacy npc media is a bootlicker for the oligarchy, attempting to use emotion such as guilt, or abuse the welcoming good nature of people, to dismantle any pride one has in their country, to attempt to justify the current well above long run average rate of immigration.

      • boomengineeringMEMBER

        Someone tying to get a bite ?
        Captain Cook was in the 50th ship of different nationalities to land on Aussie soil. Next time you’re in a race and come 49th guess what they’ll celebrate the 50th. Over one thousand Dutch ships sailed past within sight of land as well before Cook.
        The reason Cook was put on a pedestal was because he admitted being a failure , failed to find great South Land south of New Holland, failed to record transit of Venus (while we’re at it Spanish found Hawaii 200 yrs earlier, failed to find NW passage etc) He was told to shut up as no sponsorship money would be forthcoming for more failures so they made up the story of Australia’s discovery to ensure money for next voyage.
        The politicians wanting the statue should be deported for being unpatriotic to Australia. Deport them to their country of allegiance.

      • Ermo
        Union, remember that
        when u see the branding, marketing for the surfing thingy
        u will understand.

        For me locally, if we ever have another conflict, union members will be accompanied-escorted, by armed military personnel.
        just to ensure the union personnel understand what battle is all about
        you will recall the military vs union conflicts in WW2, where military personnel threw union personnel off wharves and fired a few stray shots in the direction of the unionists, to settle em down.
        the sinking of the Centaur is a direct result of union activity.

      • boomengineeringMEMBER

        Ermo, The true Labor pollies won’t be deported as they have always shown patriotism to Australia not another country hence the spelling

      • boomengineeringMEMBER

        of labour and if you like statues what about Australia’s first 1656 sledge hammered to bits.
        btw a lot of Germans & Europeans living in Aust before Cook as well (passengers on the Dutch ships)

      • ErmingtonPlumbingMEMBER

        Yes yes yes Boomin there was plenty of shipwrecked Europeans in OZ before Cook,…..probably a few Chinese, Arab and Indians washed ashore before that to,…. not to mention the Srivijayan empire who would of have almost certainly had ships sighting and landing on NW Australia by the 9th and10th centuries (the same time they were settling Madagascar).
        Probably plenty of Polynesian and non torris straight Islander Melanesians washed ashore over the millennia also.

        I think Cook made a far greater contribution to the founding of the Nation state of Australia than those other 49 explorers you speak of.

        Had Abel Tasman not failed in his 1644 voyage to find the Torris Straight and a passage to the east coast of Australia, then maybe the Australian Flag today woukd have the Dutch flag occupying the Upper left hand corner,…maybe our island would have multiple flags like Africa or North and South America,…but that is not how history unfolded so we have statues of Cook instead of Tasman as a National legendary figure (Tasman probably deserves one in Tassie and NZ,…have they got them?)

        Britains great advantage was that they were able to create very accurate maps thanks to their deployment of Chronometers avaliable from the mid 1700s,…Cooks skill as a Cartographer alone is Justification enough to have a statue of him here IMHO.
        And though I agree we as a Nation carry a heavy debt to Australias Indigenous Peoples,…Im also glad we are one country and not carved up into competing Nation states and Balkanized regions like so much of the rest of the world.
        I believe we can be proud of our Country and wanting to be better at the same time,….it just requires a little bit of reconciliation and a lot of Solidarity.

  31. 🚫Sydney’s Hidden Housing Price Sales 🚫
    https://www.youtube.com/watch?v=HB_BpFjHHHc
    [Paul hugo
    3 hours ago
    Whole of Canberra is for sale. 3200 `properties for sale.
    One small agent had 150 houses put on the market ‘last week”
    More auctions in the next 3 weeks than ever recorded or dreamt of
    2
    Alex Cawdron
    1 hour ago
    I am a builder in canberra…. the market is crazy!]

    • “20 of the last 25 house that sold in Bond-ee had their prices withheld” Bond-ee? Oh….Bond-eye….!!

  32. So these property report onsellers seem to be way off sometimes. Doing some digging on property sale prices…
    This guy
    https://www.onthehouse.com.au/property/nsw/wahroonga-2076/25-churchill-ave-wahroonga-nsw-2076-11830924?status=off-market,for-sale,for-rent&stateCode=NSW&suburb=Wahroonga&postCode=2076&streetName=Churchill&streetType=AVE

    Estimate apparently 1.9m – low confidence.
    I search on http://www.valuergeneral.nsw.gov.au/services/sales-enquiry.htm?execution=e1s8
    Last sold 22/09/2018, for 1.505m.
    No clue how they explain a 400k increase in value in the space of 6 weeks.

    And if you look at http://www.valuergeneral.nsw.gov.au/land_values/access_property_sales/property_sales_resellers
    onthehouse has been provided the data for resale. Clearly choosing to withhold the info.

    • Failed Baby BoomerMEMBER

      Divya,
      I have investigated this. You are constrained by local regulations. For instance In the UK you must have proof of residence. It is not easy to sidestep these requirements – they want to see proof like utility bills, rental agreement etc.
      I depends upon which country you are interested in.

    • Divya, if you just want a foreign currency account, you can get that here in oz with hsbc. No need to open one in another country. Unless you think hsbc aust is going under? Best not to use them for currency conversion though.

  33. Sydney drags auction clearances to six-year low amid weak Melbourne Cup volumes
    https://www.afr.com/real-estate/sydney-drags-auction-clearances-to-sixyear-low-amid-weak-melbourne-cup-volumes-20181103-h17h7h
    [Crash territory?
    The weakness prompted some observers to start talking about a crash.

    “Auction clearance rates this low in Sydney and Melbourne effectively translate into price falls of between 1.5 per cent to 3 per cent per quarter,” SQM Research managing director Louis Christopher tweeted. “That is crash territory for housing if this state of affairs persist.”

    “It’s not like last spring, or the last 10 springs,” Mr Morrell said. “You’re a very gutsy man if you go to auction now. It isn’t what the property is worth, it’s more how much you’re prepared to give it away at.”]

    • Oh, so according to that bloke, when cheap credit was flowing prices were correct, and now you are “giving away” properties……. fvcking tard


    • Auction clearance rates this low in Sydney and Melbourne effectively translate into price falls of between 1.5 per cent to 3 per cent per quarter,” SQM Research managing director Louis Christopher tweeted.

      Gutsy call when Corelogic has both Sydney and Melbourne falling falling at around 2% per quarter – close to smack dab in the middle of 1.5% and 3%

  34. Great housing deflation is a national test
    https://www.afr.com/opinion/editorials/great-housing-deflation-is-a-national-test-20181102-h17g96
    [by The AFR View

    The great unwinding of the property price bubble of Australia’s biggest cities has begun. Falling house and apartment prices in Sydney, Melbourne and Brisbane will encourage young Australians who feared they would be forever priced out of the dream of home ownership. Yet this housing price deflation leaves behind an oversized burden of household debt – more than 180 per cent of household income – that has been fuelled by the cheap money policies of the world’s central banks, including the Reserve Bank of Australia, in the decade since the global financial crisis.]

    • Young people buying property now at the very peak of a multi-generational uber-bubble will regret it for the rest of their lives. Instead, they should invest in some microwave pop-corn and a cask of of crocodile-tears for the great bonfire is only just beginning.

      Australia’s reckoning is finally here.

      • I suspect RBA will be fuelling that bonfire with the cash savings of those who cannot afford a house.

      • Arrow, I think the plutocracy will attempt saves, sure. But one thing they cannot save that has already passed, is the pricking of the property-price invincibility delusion. The frenzy persisted for so long and swept-up so many, that headlines like “biggest price fall’s since 1990” are like 00’s through a watermelon at 5.5 meters.

        It’s a downward spiral of death now as Govt intervention fails to do anything, much the way it failed to save the US, Spain, Ireland etc.

        For me, once the punters realise that prices can fall, as is currently happening .. ‘that’s all folks’.

      • Not to worry Ortega…. the unwashed will form a circular firing squad and then the elites can sit back and let robots do all the work.

      • Not sure Ortega. IF (big if) the athorities can save it and actually turn it around from here (ie get it going up again), it will reinforce the “it never goes down for long, buy the dip and then boom times forever” narrative x 1000. It will set the bubble bursting back several years. I for one will probably capitulate. Or move overseas.

      • Arrow, I too suspect they will try. But! It’s the credit stupid. The fed and Trump are whats going to bust this, and there is nothing Scummo can do to stop it. We were in a perfect storm during the GFC with the Fed lowering rates, China going nuts and old Kruddy pushing the accelerator to the wall letting foreign investment in and handing out FHG’s. That bloke really had the perfect oppurtunity to let the market deflate without taking blame, but I suspect the weasel Swanny didn’t want to let it. Booming economy and falling house prices? It could have been Nirvana. But no, they had to fvck it all up. Now we are going to get raising rates, trade war which who knows how it will play out, tightened credit, immigration on the nose, inflation in everything but the RBA’s bullsh!t numbers and last but not least, the sinking feeling that housing is not a magic money machine. Watch Coromal and Jayco for how we are travelling. Not going to be pretty in the next six months I imagine. We are in for a doozy and I can’t wait! I do a lot of camping and i’m fvcking sick of overhearing boomer cvnts in their 100k caravans talk to eachother about selling an IP to buy a corvette or whatever.

      • I hope you are right Timmeh. Things look very promising but I am pretty worried about Scomo’s weasel cunning, the temptation to get at our super funds, a rate cut and a look-away APRA letting the banks roar back. Again, it isn’t remotely my base case.

        But I JUST DON’T TRUST THE C#NTS.

        Incidentally they could always live in their Jaycos when they have to sell their IPs and their PPOR gets taken away because they guaranteed their kids’ Bank of Mum and Dad purchase.

        I’ll be the one sidling up to their van at night and putting a length of plastic tube from their sewerage waste outlet back into their drinking water inlet.

      • Lol, I might have a new hobby. Just need to learn to pick the water tank locks and i’ll piss in every 40 foot van’s water tank I see.

      • Al, *any* popcorn will do for a once in a lifetime Event like This.

        Q: What’s the best popcorn in the world when you need it?

        A: Whatever you have on you 😉

  35. The Mainland princelings in the unit below are having a party.

    Smoking and yelling on the balcony and DGAF.

    (if you could just hurry up and fvck off out of your suburb that would be great.)

    • ErmingtonPlumbingMEMBER

      Around 40% of my friends in School (Ermo/West Ryde) were non Anglo Australians. They came from such a broad ethnic base,… only a few chinese, indians, Arabs, Iranians, Islanders, Maori and SE Asisns in each year (even less Aboriginals) and a lot of Greeks, Italians, Yugoslavs,….but I dont remember a single ethnic based group,…nor ethnic enclaves in the surrounding area.
      Everyone considered themselves Aussies inspite of cutural differences and in my view, my area at the time 70s/80s was an exelent example of positive Multiculturalism.

      There seems to be such a Balkanization going on in Sydney Suburbia today.

      This morning I went to Pennant hills to price an out door kitchen/ BBQ install for a new Sri Lankan client refered to me by another Sir Lankan fellow Ive been doing jobs for since 2008
      Ive had dozens of referals of this guy, all Sir Lankan people and notice they mix in well and make good “Aussies” in my view.
      Anyway Im vering of point,….After taking the details of the job and finnishing of my tea (Sir Lankans generally dont do good coffee) I go down to Pennant Hills Shops to get some lunch and was struck by how Anglo Australian It was there,….I mean it was almost Totally wealthy Anglo’s,…seemed more bloody Anglo than the Central Coast! I almost got my camera out to take some photos.
      Contrast that with me driving through Eastwood later in the day around 5pm,…I had just done a camera inspection of a mates stormwater connection into the Main at denistone. I had my boy and one of his mates with me and after we left, we drove through a very busy Eastwood.
      I was telling the boys how my mates and I used to spent a lot of time riding our BMX bikes around the shops and arcades here.
      “But its all Chinese people here” my boys mate says.
      Its not all Chinese people I say and the boys spend the drive through Eastwood looking for someone “Not Chinese”,….they didn’t see one person out of the hundreds.
      I said “some might have been Korean”,
      “No” says my boy, “they are on the other side of the train station”.
      “How do you know” I ask.
      He tells me His Korean mate told him.

      Seems such a rapid change going on here in Sydney and no one is really talking about it.

      • Been to Strathfield/Burwoo recently?

        I reiterate – “if you could just hurry up and fvck off out of your suburb that would be great.”

      • I got sent on the breakfast run for the boys working on a site in Bankstown a few weeks ago. Ran around to three different cafes at 6am looking for bacon and egg rolls. Settled for a couple of Mohammad friendly sausage egg rolls. My name was absolute mud back on the worksite. Every cafe I walked into I felt like an absolute foreigner didn’t see another Anglo for the half hour I was there