Links 28 December 2018

The Wasteland II, Jeffrey Smart, 1945, Art Gallery of NSW


Macro & Markets








Terra Heatwavus


…and furthermore…


Latest posts by Gunnamatta (see all)


    • Spent a lot of my youth around Mesa, the heat does the same to the roads, blows out windscreens on cars and the occasional bike tire can be heard blowing up.

      • I liked AZ. Checked out the climate as a lot of Arthritics move to the metropolis of Phoenix for the hot/dry. Here, similar specs are found inland of Silverton, Carnarvon & Thargomindah…….. : (

  1. Damn, these links are up early. Wish there was something I could annualise to stir up some reactions.

    • Righto, so although I agree with some of the sentiments here to throw out broad statements suggesting our building codes are out of date is factually incorrect. The concrete code AS3600 Concrete Structures was comprehensively updated in 2018!
      I don’t know why people throw in silly claims like this, they deligitimise their entire broader argument.

    • My heart bleeds for the Opal Tower owners:- who the hell would pay those prices for a dogbox that can be replicated in perpetuity. There is no practical limit to the number of units that can be built so from where do they derive their value?

      Two words: natural selection. Fvck em

  2. Hill Billy 55MEMBER

    The take on why there are more massage parlors, tattoo shops in shopping malls from an investment management seminar is that the said managers are cognisant of the impact Amazon et al are having on retail and will have more so. Therefore his company looks to help clothes (especially) and toy etc retailers to move out of their centres and they replace them with coffee shops, massage parlours, tattoo shops. These they believe will be able to survive the changes taking place in the retail industry and also maintain a healthy return on equity for their investors.

  3. As a cricket tragic one of the years highlights is to relax after Christmas to watch the Boxing Day Test. But it seems CA want to kill test cricket by rolling out a dead pitch and two totally unlikeable teams. Couldn’t watch it.

    • I’ve finally accepted that reality and that’s why I’m sleeping soundly in my new home.”

      Seems to go predictably with:

      “Wave 5 is the final leg in the direction of the dominant trend. Unfortunately, this is when many average investors finally buy in, right before the top. Volume is often lower in wave five than in wave three, and many momentum indicators start to show divergences (prices reach a new high but the indicators do not reach a new peak).”

      • Maybe janet – but this is much more telling

        He talks of massive debt, forced sales, crippling unemployment – but none of that matters because….
        The Irish housing crash is a textbook case study of this……………………………………………………………..However, Australia isn’t Ireland.

        Wow – why is that champ ?

        The Reserve Bank has already effectively said it will do whatever it takes to prop up the economy — even printing money — if Australia looks like heading into recession.

        So you’ve got a lot of confidence that the market is going to stop falling ?

        Sydney-based buyers’ agent Nick Viner recently told me that, from his observations of the market, if the peak-to-trough fall ends up being 15 per cent then the market is almost there already.

        Face palm. A real estate agent told you it was already at the bottom……

        What about other analysts think ?

        Most analysts are predicting that prices will fall at least another 5-10 per cent in Sydney and Melbourne

        Really ? Most are openly predicting a MINIMUM of another 20% – with most privately predicting a 40% crash from here.

        Never in my life will I enjoy shoving something in someones face with the epicaricacy this deserves.

        Yes – Epicaricacy.

      • Yes TR I had a good chuckle that a presumably highly qualified, successful business reporter with a profile accepts wisdom from an agent who most likely did a two week real estate course. Quickly followed by another when he suggests the RBA will do (successfully) anything it possibly can to prop up the economy – those other countries are all run by incompetent aliens without hearts apparently.

      • Noun. epicaricacy (uncountable) (rare) Rejoicing at or deriving pleasure from the misfortunes of others.

        (I’m guessing I’m not the only one who needs to look it up.)

      • He bought for good reasons. And he’s buying a house to live in, not to speculate with. His article highlights the dilemma facing Australia’s youth (many, like Michael, on the verge of no longer being young). It’s the need for a place to call home. He knows the market better than most, and that the likelihood is that it will keep dropping. But quite understandably he and his partner want their own place after 15 years of renting in our dysfunctional property market.

      • ErmingtonPlumbingMEMBER


        (rare) Rejoicing at or derivation of pleasure from the misfortunes of others.
        Usage notes
        The word is mentioned in some early dictionaries, but there is little or no evidence of actual usage until it was picked up by various “interesting word” websites around the turn of the twenty-first century.

        “there is little or no evidence of actual usage until it was picked up by various “interesting word” websites”

        @Chuck Norris

        You show off.

      • Michael Janda illustrates a great dilemma faced by young adults. They reasonably aspire to home ownership – for the secutity privacy and freedom this brings. Even a rational player with superb access to the data like Michael can be overwhelmed by the instinct to own and the distress of his partner at being a mendicant in a ‘land of sweeping plains’

        He may come to regret his emotional decision, for as he says, he has mortgaged his entire future working life. Who can say what challenges and risks lie ahead.

        The pioneer Australians were determined to escape the landlordism of Britain with freehold, Torrens title and liberal subdivision laws. These qualities have all been turned against citizen homeowners. Correcting these errors will be, ahem, difficult and painful. I choose to sit it out.

        Don’t Buy Now!

      • Only thing i can say in Janda’s defence is he may (maybe) have scored himself something at a huge discount that means he is still looking good if the market falls another 20%. He slightly hints at this as one reason to buy in the article.

        You don’t buy a median house, you buy your house, and it is possible to score well below market if you negotiate well. Who knows. Good luck to him.

      • I can fully understand why he bought, which is fine, he seems very clued up, though I think he’s only looked at facts that suit his case, just like most people. Her mention Ireland 50% falls but doesn’t consider Japan, or either of the drivers that have allowed Irish prices to recover but not Japans. Likewise her says her RBA will not let prices drop bout doesn’t consider the banks lawyers that are unlikely till allow them to lend recklessly, it’s a structural change, unlike Ireland.

        Also has he considered that whatever $ drop from here occurs he will pay about 2x that over the life of a as he will pay interest. If he’s happy with that potential loss, then fine. Personally I would have waited another year at least as that could have been some serious money saved

    • GunnamattaMEMBER

      Thats precisely what ScoMo’s staff are paid for…..

      To know the foibles of as many people in the LNP (and beyond if it serves LNP purposes) as possible, but to allow ScoMo to look the news cameras in the eye and declare he ‘didnt know’

      Thats the way the political process works

  4. Hey when are we getting a dump on Opal from HnH.

    I rode past on the way to work this morning and there was a gaggle of hi-vis orange waiting around the back entrance at 6.50.

  5. How US trade war could leave Chinese private firms at risk of being ‘taxed to death’ | South China Morning Post

    US tariffs will hit China harder next year, analysts say … CNBC

    China’s industrial profits suffer first drop in three years, piles pressure on economy | Reuters

    • Turns out that some Melbournians are indeed afraid to go out to restaurants. Whodathunkit. When does Dutton get his apology?

      • I seem to recall one other time in the last 12 months ?Easter holidays? where the censors were asleep and you could get the most outrageous stuff posted in the comments section on DomainFax.

      • tried to add another age article kiwikaryn .. maybe that’s why was blocked …. might also have been because I referenced when these hyenas were first imported into the country …. hope all the people responsible are proud of themselves ..

    • Lol Labor should drop the refugee intake line heading to the next election if thry think people want more of this nonsense..

      • australia is stuffed, as the major parties have the policy of importing…
        it wont stop

    • There was an ‘incident’ last night at Torquay too.

      About a dozen men (late teenagers or early 20s) ‘of African appearance’ set upon two men going back to the foreshore camp zone after they had declined to give them their mobiles.

      Another batch of cops has come down to Torquay this morning from somewhere in Melbourne. A lot of people who probably are sympathetic to taking refugees are going to be getting pissed off if it means they can stroll about beachside without fear of being assaulted.

      • ‘A lot of people who probably are sympathetic to taking refugees are going to be getting pissed off if it means they can stroll about beachside without fear of being assaulted.’

        Can idiots hold off on exhorting violence on anyone, or they will get expunged. For all your spam management queries [email protected] is the way to go

        Serves them right for leaving their inner eastern leafy bubble world.

      • Mining BoganMEMBER

        No exhorting violence eh Spammie?

        Does that include calling for tumbrils, guillotines, flamethrowers and hanging from lampposts for our politicians?

        All those are a step removed from calling for a section of society to be beaten up (I’ve forgotten the precise words he used) just because they were sympathetic to refugees. I understand that people are unhappy, but would rather the comments section was a touch more cerebral about its response. For all your spam management queries [email protected] is the way to go

      • What is the stance on cripple nipples, chinese burns or crow pecks?

        I’ve never heard of anyone being nipple crippled or chinese burned to death. For all your violence classification queries [email protected] is the way to go

      • ErmingtonPlumbingMEMBER

        “What is the stance on cripple nipples”

        WTF is a “Cripple Nipple” Harry?! ,….its called a “Nipple Cripple”!
        If you can’t assimilate enough to get THAT right,…then you should be immediately deported back to whatever “Wogland” you come from!

    • I’m suspicious that this sudden burst of reporting on African gang violence is not an attempt to divert attention from the catastrophic state of the building industry bought into the open by the Opal tower.

      It feels too much like manipulation to me. Remember that Fairfax is now owned by the powers behind 9.

  6. The Daily Mail report is more detailed and less PC.

    One Vietnamese woman said she had been at the restaurant with her young son during the fight.

    ‘It’s sad to feel unsafe in your homeland. The Vietnamese community stuck together and defended themselves,’ she said.

    The woman claimed the men of African appearance did not ‘deserve’ to be in Australia, and claimed her immigrant community had done a better job of assimilating than the one the alleged attackers belonged to.

    ‘Why we let them in, feed them and give them money for making trouble to us, what is the Australia law?’ she wrote.

    ‘It’s not fair – we are working hard, paying tax and support these mother f***ers.

    • Haha beautiful, simply beautiful and cannot be called “rashist” for it. Since they have their own bubble of protection / halo around them, since they are Jimmy Grants themselves.


      Average IQ Vietnam: 95

      Average IQ Sudan: 71

      This is why one group integrates and the other does not. Both have traumatic war backgrounds. Bringing in low-IQ migrants to the West results in endless burden for the host society which can only be resolved by ending the Welfare state or sending them all back. Compulsory birth control in order to receive welfare is another option.

      • @Gav: didn’t you know that watching Jordan Peterson on YouTube is considered a hate crime in this country?


        And from links the other day:

        22- This tweet storm irritated many:

        1) Charlatans with something to sell: without IQ & other *testing* psychologists have little to sell society; there is a vested interest in hacking/massaging the stats & defending the products.

        2) Pple who want some races to be inferior.

        The first clue that IQ is BS is that IQ is forced to fit into a bell curve while financial success or cultural/historical impact is fat-tailed

      • @rage et al- first of all Ron is correct with respect to the immigration program,, we are bringing in massive numbers of the wrong immigrants, second, it’s called free speech
        Shutting down debate on the Australian immigration program since the early 1970’s, is why we are, where we are today.

        Extract Graeme Campbell from Immigration and Consensus 1992;
        ‘It was known by the “elites” that the general public was not happy with both the composition of the immigration intake and the policy of multiculturalism, but the general public was easy to handle as long as it had no focus and was not organised All the elites, including crucially the great bulk of the media were in agreement that these two issues should not be publicly discussed, or, if discussed, in such a way as to discredit those who questioned them.’

      • lol

        Vietnamese refugees came over before the 457 visa was created – so it was much easier to get a job.

        There were hardly any foreign “students” before 2000, wages have been shrinking for 10 years, and foreign “students” are happy to work full time for $10/hour.

        Did most of the Vietnamese refugees come here by boat? If so, that is selection bias – we got the ones who were smart enough to convert the currency to gold before the communists abolished the currency.

        Having said that, I do not know why teenage criminals are not in school and getting youth allowance. Are they denied youth allowance payments or are they greedy? Give them a UBI so they need not be bandits – the fake Greens are busy giving the jobs to foreign “students” anyway – and put them in jail if they get greedy.

      • Looks like posts are being disappeared again. Test.

        LOL. It’s great the way some people roll out “free speech” as if it’s some sort of magic shield.

        “Free speech” – in as much as it exists past the colloquialism – means you get to say pretty much anything you want without the Government coming after you.

        It does not mean
        * anyone has to listen to what you say
        * anyone has to agree with what you say
        * what you say is immune from criticism

      • Ron – others have taken the time to skewer your bile. My apologies for not contributing to that skewering in a constructive manner.
        Patrick – that’s not what Ron said, please stop being intellectually dishonest. Graeme Campbell eh? The WA ALP maverick? The one described by Keating in Parliament as (paraphrasing) ‘every party has their f’wit, he’s ours over there’? I have not read the source yet but a quick skim shows it is sprinkled with errors of fact and riddled with f’witery. Here it is for anyone with more patience than me

      • @rage – Keating is a traitor, a failure, an Asianist, one of the many in the Hawke/Keating Labor government. So, no surprise when Keating spits the dummy, spewing a vicious verbal assault on anyone that dare challenges his Asianisation ideology.

        Extract Graeme Campbell Immigration and Consensus 1992;
        ‘The Hawke Government began to pursue a deliberate policy of Asianisation, though publicly denied it was doing so. As Stephen Rimmer has pointed out, “the policy of Asianisation, while linked and allied with the multicultural lobby” has a number of philosophical differences and rejects the idea that all cultures are of equal value to Australia. It gives primacy to Asian countries and cultures. The proponents of Asianisation view “multiculturalism as useful for engineering social change and silencing public debate” and so actively support the policy.

        One of the strong influences behind Asianisation is a former Ambassador to China, Professor Ross Garnaut who used to be one of Mr Hawke’s close circle of personal advisers, derisively dubbed “the Manchu Court” by Paul Keating, while he was Treasurer.
        However, Mr Keating since he has become Prime Minister, for all his talk of nationalism has embraced the essentials of the Hawke position. Mr Keating uses Britain and British connections as a convenient straw man. Britain offers no threat to our national sovereignty or unity, but Mr Keating’s attacks give the illusion of independence. At one and the same time he advocates “integration” – in other words dependency – in Asia’

        You and smithy et al, should read all of Immigration and Consensus … but then you may be confronted with inconvenient truths … alas for apologists

      • Relevant StakeholderMEMBER

        @smithy, NNT doesn’t prove what you want him to, a couple of quotes from the thread…

        “11- A robust use of “IQ” is for low scores for special needs pple. But then practically ANY measure would work to detect problem & improvement.”

        “16- So Far: “IQ” isn’t a measure of “intelligence” but “unintelligence”; it loses its precision as you move away from 70 (left tail).”

        Also lol at you referencing a bloke who’s main criticism of IQ is due to it not putting businessmen at the top.

      • @ron
        communists normally do schooling well, that probably explains tar difference (while there will be some some culture, physical related differences, not to mention developmental delays caused by health, nutrition etc the differences are not about race but other factors. For example differences of around 20 points have been recorded in western nations just due to class & that’s doing tests designed by western European college students eg )

      • yes they were 50’s …….. but unlike the ‘Africans’ (overwhelmingly Sudanese & Somalis), they kept it – the violence to their own community to themselves – they did not rampage through the middle of the CBD nor did they cruise affluent areas looking for the best home to invade ..

        their home invasions were targeted to their own community members (which includes ethnic Chinese as well) – mostly people who were known to have gold, jewellery, cash stashed in the house ………. this is based mostly on my experience when in legal practice in Brisbane

      • and further to my reply to kiwikaryn above that was deleted …. In the US the same problems are entrenched part by elements of the ‘hood’ community and specifically also from the same ethnic groups that were imported under the same misguided multicultural/refugee policies ……. given that the ‘n’ word is now forbidden to those with paler complexion, substitute ‘hyenas’ instead …….. think about the behaviour and you will see the similarity with the animal world …

    • Love this comment from cricinfo commentary.

      Jesse: “@Trent – Mitch has improved out of sight the last couple of years with his batting. Its a shame he didnt get to go to England last winter, would have really been good for him – but he cant help it if hes being picked. But watch him be the scapegoat if Aus get runs cheaply here- even if he worked his backside off with the ball the 1st two days in the heat. “

      • Was listening to abc cricket this morning and they were praising Mitch marsh for his bowling. I wish I got praise every time I didnt take a wicket…

    • Oh no Mitchy! Hey he almost got to double figures 🙂 an inspired batting display showing his considerable talent!

    • The problem isn’t Mitch Marsh, the problem is the Australian top order can’t bat well enough for long enough.
      The way they are going, they might do better, selecting a starting eleven consisting of bowlers!

    • Yeah nah, Bernie is as much the future of liberalism in the US as Shawn is the future of Australian cricket. Enough with the geriatric “Democrats”, Pelosi, Biden, Hilliary, and Bernie, hanging around on the basis that they haven’t had their turn yet. Time for the baby boomers to step away. Marcron and Trudeau and Ardern don’t have the answers and will probably stuff up but it is time for their generations to carry the load and mould the future.

    • I haven’t read the article yet but this is how I see BS.
      Based on his tweets and yes he tweets more than Trump..
      He pretends to care about inequality and the environment but flies in a private jet.
      He does not go on about Russia of late but not calling it enough so still encourages the crowed to revolt over nothing.
      He still thinks R Mueller is doing great job and ignores that R Mueller wiped Strzok’s and Page’s mobiles so no one can see all the messages. And forgets this is same Mueller that lied about Saddam’s WMD that led to Iraq invasion.
      He argues about senseless wars but attacks Trump for withdrawing from Syria. To remind everyone that US is not invited to fight IS so they basically occupied parts of Syrian territory.

      The again, I a happy to be proven wrong so let’s start reading..

      • Ah Bernie Sanders. Duel Israel-US citizen. We all know what will happen to US foreign policy if he’s elected.

        That and the fact he owns multiple properties, so he’d fit right in down here.


    “In findings researchers say indicate “systematic discrimination against females starts in the womb”, mothers within some key migrant communities are recording sons at rates of 122 and 125 for every 100 daughters in later pregnancies.

    Lead researcher Dr Kristina Edvardsson from Melbourne’s La Trobe University said it showed gender bias persisted in Victoria, despite laws banning people from choosing the sex of their child, other than for medical reasons.

    “We believe that some women may be terminating pregnancies after discovering they are expecting a girl and in other cases are travelling overseas to access non-medical sex selection services through assisted reproduction,” she said.

    Always wondered why all the !ndian families had only sons… this explains it.

    We should insist on minimum 52% female immigration from all countries on all visas (including student visas) in order to rectify this situation. We are not in pre-modern times when excess males would be killed off by war and disease.

    • No, we just need a complete cut across the board. Students, family reunions, 482’s and the rest then the rest will take care of itself.

      This cultish belief in Australia that immigration is always a good thing and you can’t question it is akin to any kind of religious zealotry. It’s the same with mutliculturalism and of course property.

    • 3 men and 5 children (what odds that they’re all boys) drive from SW Sydney for 5 hours so go shooting… wonder what else the police find at the camp site

  8. The Indian quicks are doing well. With the SA and NZ bowlers also currently cleaning up opponents we the Australian bowlers may start to lose their reputation as the best in the business.

  9. alas, Mitchmas was over all too quickly. sigh. ohwell, at this rate we’ll get to celebrate mitchmas again possibly later today or at the latest tomorrow.

  10. Failed Baby BoomerMEMBER

    Another test, another Marsh failure. How tedious. How much longer will this continue?

  11. One positive, about all this match fixing stuff, is that Mitch can’t get to his phone right now.

      • I have previously mentioned that Chinese nationals effectively have non-recourse loans. They can leverage up as much as possible and if it turns badly they can return to China.

    • Don’t forget with absentee owners the remediation charges/strata special levies will not be paid. It will fall disproportionately on the domestic owners.

      • This was a problem in the US with condos – because the fees were not paid (banks in mortgagee possession) nothing was maintained in the complex. As the place got more and more broken down and dishevelled, the value of the apartments declined even further. Vicious circle.

    • You can declare bankruptcy, its only for three years. If you’re smart all your other property is in a SMSF and any other investments are in a trust or your partners name. The banks can swing for it.

    • There was a Colombian group in Melbourne doing similar a few months ago. Easy to go undetected with the volume of student visas and lack of resources of enforcement.

    • South American pickpockets etc have been doing summer trips to Spain, Italy etc for decades. Work the tourist crowds and go home again. How nice that we aren’t being left out. I reckon it doesn’t count as vibrancy, just thieves travelling.

  12. Health and Lifestyle

    I just finished Michael Mosley’s book on exercise, Fast Exercise. There were enough studies referenced and medical terms I could barely pronounce to convince me to give it a go. Ten minutes, three times a week for improved strength, weight loss and other benefits I’ve already forgotten the details for. At the back of the book was a list of exercises with recommended work/rest times. Thankfully, someone developed an app for it. Downloaded and exercises done in about 10 minutes. No cost and no need to leave the house or buy equipment. It can be done in motels when I go into the country for work. I think this could be the routine I stick with. If I can also introduce the intermittent fasting that also have a great reputation I could be fit again.

      • I’ve snaffled a place where it isn’t necessary. So I’ve put that on the back burner. I’m actually starting to prefer the idea of a motorbike. Something to run chores on and just poke my nose about with.

      • +1 for a bike.

        Be warned they can become addictive though.

        (That said, mine hasn’t turned a wheel for 6+ months now – neither has the pushie – just don’t have the time for leisure riding and the new place is directly across the road from a train station so don’t need it for commuting either.)

    • The Traveling Wilbur

      Seconded. In real-life and real-time.

      Being a lazy-pr1ck who enjoys suffering, I can vouch for f’all exercise a few times a week (as long as they hurt), combined with less than 3 meals a day, works. No brainer really. It’s interesting seeing the science coming out in the last few years to support all of that… otherwise the ridicule factor would be too high to mention this, even here.

      Full disclosure, having an undiagnosed food intolerance does help the whole ‘not feeling like you’re starving to death if you miss a meal’ thing. (processed corn-starch allergy). One learns to not force food down gob just because the clock says it’s time to (when it makes one feel like sh1t and one hasn’t figured out why yet) pretty quickly.

      It’s in f’ing everything btw.

    • The Traveling Wilbur

      Right… one ode to modbot epic on its way to a random thread near you (complimentary in case anyone was wondering).

      More to come…

    • I met Dr Mosley last week to take photos of him. Seems like a very genuine bloke. I’d take his advice any day over many others. I do think though that you need much more exercise than he suggests.

      • How much does he recommend per week? I vaguely recall seeing him on SBS Insight a little while ago, and he mentioned how much exercise, and I recall it didn’t seem like much at all.

    • The science behind this is beyond my scope, but personal anecdata wise I find that this approach or similar (I got onto Tim Ferris’ methods a while back) very effective.

    • thanks footy – saw the original programs on SBS. Got the link on my phone now and will try it out as an alternative/adjustment to my regular workout ……….. arthritis is significantly helped by keeping fit (diet as well as exercising)

      • No problem. Even Lady footsore has approves of this one. Previous talk of exercise have been met with the response normally reserved for a particularly funny Dylan Moran stand up piece.

  13. Also, can’t think of a funny thing. so won’t be first tonight, regrettably.

    Best of luck to all!

  14. Ok, got the Favero Assioma power pedals. I’ve just fit them, and I’m testing them inside for now to get a feel (new cleats) and to compare how they read against my trainer’s power.

    I really need to work out my cleat positioning wrt float and the tension settings. Last thing I want to do is go outside riding, then fail to unclip at traffic lights and fall over with my bike still attached to my feet.

    They use Xpedo branded Look Keo compatible cleats. I ditched the Xpedo cleats in favour of the proper Look ones (grey, 4.5 degree float) — which seemed to be recommended by a few people. I’m still finding though when I go to unclip my right foot (keeping my left foot clipped in for pushing off after stopping), it’s a bit tricky.

    Dear God I don’t want to clip stack. I’ve done this a couple of times before and it’s highly embarrassing falling over on the road at lights with the bike still attached to your feet, and drivers just looking at you..