Links 31 January 2019

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  1. https://www.afr.com/business/banking-and-finance/credit-crunch-to-trigger-worst-housing-downturn-since-1890-endeavour-20190130-h1an43

    Interesting view by Douglas Orr from Endeavour Equity Strategy.

    The graphic half-way through the article is worth looking at. Presents the same data we have been looking at, but in a slightly different way.

    So right now, anyone who purchased in Sydney since the start of 2016 is well and truely underwater. And that’s just looking at property prices alone. If you include stamp duty and other costs, you are probably close to underwater if you purchased anytime since the start of 2015.

    Douglas forecasts that prices will keep falling through 2019 and 2020. So by the end of 2020, anyone who purchased since the start by 2014 will be underwater – not including costs.

    However….., here’s the thing. His forecast is for price falls to start levelling off from mid-2019. In other words, he seems to be suggesting most of the worst is behind us with more gradual falls ahead.

    Perhaps. But to me it feels we are just getting started.

  2. NEW ZEALAND: National Party transport spokesman Paul Goldsmith backs Treasury concerns about the proposed Auckland light rail project, saying it is politically driven | interest.co.nz

    https://www.interest.co.nz/news/97856/auckland-light-rail-project-doesn%E2%80%99t-make-sense-according-national-party-spokesman

    National Party transport spokesman Paul Goldsmith says the Auckland light rail project doesn’t stack up and is only being considered because of the Government’s confidence and supply agreement with the Green Party.

    “It has been driven by the politicians,” Goldsmith says. “It’s hard to find anyone who thinks it makes sense, or that it is a sensible priority for such a large slice of our limited transport funds.”

    He says a Treasury report has raised legitimate concerns over the Auckland light rail project…. Read more via hyperlink above …

      • TheRedEconomistMEMBER

        Plenty of used rubbers and Real Estate Mags with pages stuck together in your wheelie bin Reusa!!!

    • “Stuff em I say… If people are too lazy to recycle then the bin on the street are free game.”

      I missed he /sarc I guess.

      • TheRedEconomistMEMBER

        When it is council clean up, I see punters out and about checking the junk on the council nature strip for anything of value, re-use or scrap.

        This no different than a dumpster diver checking the recycling bin for can/bottles and plastics.

        It is a perfect micro economy.

      • Don’t laugh, I knew a guy in Perth during the boom would make $3500 a week with a truck and council recycling. My mate used to grab me on some weekends and the things the rich bogans would chuck. Some years later I sold all the stuff I collected in the shed and pocketed $20k

      • TheRedEconomistMEMBER

        Al

        I am all for the “Dives”

        I have mate I go camping with and he always pointing to some new acquisition and saying. “See this… Dive last week… beautiful!!”

      • Our local Woolworths has become a dumping ground for recycling bins. Apparently people are stealing entire recycling bins and feeding the contents through the Return and Earn, then just dumping the bin nearby.

  3. Plenty more more where they came from!

    The report, published at the end of last year by Austrade under a collaboration with global education platform Studyportals, said Australia is on track to reach an ambitious target of 720,000 international enrolments by 2025, with the country seen as offering safety, quality degrees and promising employment prospects.

    https://www.smh.com.au/politics/federal/international-education-boom-predicted-despite-decline-in-chinese-students-20190130-p50ujz.html

  4. And here’s some vibrancy, SA!

    Premier Steven Marshall takes South Australia’s pitch for skilled migrants to Prime Minister Scott Morrison

    (Sorry can’t find a way around the new and improved paywall.)

  5. Trump sat down with Putin at G20 without US note-taker – Financial Times (no collusion!)
    “no collusion” ?? So from the commenter – No bias??? No stupidity? No total ignorance of history? No total removal from reality?

  6. https://www.smh.com.au/politics/federal/international-peers-say-australia-will-fall-short-on-climate-action-20190129-p50ue1.html
    “It is an organization for developed countries that accept the principles of representative democracy and a free market economy. ”
    Free market??????? Bwahahahaaaaaaaaaaa!!!!
    https://www.mapsofworld.com/oecd-member-countries.htm
    The red square sums it all up. Bunch of virtue signallers sitting inside the trade walls of the EU telling the rest of the world, especially, Australia, it has to pluck itself to suit the a..e polishers in Brussels

    That is a clear analytical article considering all the issues involved. Then its put up my MB as the be all and end all say on all things?

      • Keep it up Bolstrood. You reveal yourself as more and more of a lying extremist a…..le every time you comment. Typical of your side of arguments really – Just slag off at someone using no evidence or rationale and any lie is OK to justify yourself. Truth just doesn’t matter to you at all. There are no limits for you.

      • Flawse, don’t you realize that you don’t belong here? I’m sure there are plenty of §hithole right wing blogs that would love to hear you echo their thoughts in the comment section. Need a link or two?

      • R2M

        Finally we get to SOME truth. Anyone who thinks in any way differently must be despatched forthwith never to be heard from again – and the sole abiters of that are you and Bolstrood!!!!!!! I can’t wait till you rule the world!
        SoI know I don’t belong here. I also understand that the plan is to force out anyone who does not sign on 100% to the cheap name-calling at a kindergarten level that predominates MB. This place has set out to be an echo chamber for irrational BS and lying pricks like Bolstrood. I’ve watched it over the years gradually achieve that goal. All those who argue rationality, particularly around economics, gradually give it up in the face of continued irrational name calling stupidity. Of course you think this is OK because the ends justify the means. Somehow that has a familiar ring to it.
        Also in a way you are more correct than you realise. You read nothing that might contradict your religion – nothing! You get your science from the Guardian. You don’t understand anything outside your religion. So anyone who reads anything outside of here really doesn’t belong here. Anyone who seriously looks at any sort of maths has no place here.
        Now over and over bolstrood repeats, despite my correcting him/her, some crap about coal shares – thereby impugning me suggesting that my words here are just some cheap self-interested propaganda. R2M has been happy to pile in on top of this.
        So I’ll repeat something I’ve stated before – which you choose to ignore because it is very inconvenient to your petty name calling abuse.
        Back in the days I bought some BHP shares – maybe a whole 750 or something of them. BHP was at the time a steel making/Iron ore company. These are the only shares I own in any company that mines an ounce or more of coal! Now that’s clear.

        SO….Now what you pair of lying ignorant p..cks ought do is either
        1. PROVE with evidence that this is not so
        OR
        2. Apologise for being a pair of lying no-good name calling scum who have not a single honest principle to live by.
        I’ve spent (and lost) more money on renewable investing than anyone here. I say this without much fear of contradiction because I know the amounts I’ve lost – mainly trying to bring new and experimental technologies through to something commercially viable.

      • You get your science from the Guardian.

        Nope. But I use Guardian links to explain complex ideas in everyday language for other readers.

        You read nothing that might contradict your religion – nothing!

        Nope. I’ve spent literally hundreds of hours reading links presented to me by deniers, and guess what, they are all §hit.

        Anyone who seriously looks at any sort of maths has no place here.

        Oh the irony! The deniers have singularly failed to use science to disprove AGW. Maths or no maths.

        I bought some BHP shares – maybe a whole 750 or something of them

        Thanks for confirming your BHP shareholder status. Those shares are worth about $26.2K … easily enough reason for you to fight any science that could decrease that investment.

        Come on, admit it! 😈

    • bolstroodMEMBER

      You Traduce me Flawse.
      There is no name calling in my comments.
      Thank you for explaining your share holdings ,that is the first time you have answered me on that issue that I have seen.
      You just sound so much like an angry Climate denier that I thought you may have a vested interest.

  7. Telstra is so full of migrants that they have to post instructions in the bathrooms of how not to squat.

    Andy Penn just wants his cheap labour.

    The place is so full of (Indian) men that they have to set quotas on the number of women. If you get a job at Telstra as a woman, you are unfirable and guarenteed to be promoted to a ‘team leader’ role.

    Meanwhile their network has collapsed in quality and Optus and TPG are eating their lunch.

    • Do Not Squat signs are in the toilets at the Glen Waverley Novatel arcade.

      Just goes to show that Chinese from the bush can get a long way in Oz 🙁 Or the cheap Chinese labour on the building sites.

    • I read that paper a week or two ago. Everyone ought read it and think about the critical assumption made.
      R2M I know you won’t have actually read the paper and I don’t expect you to do so. The Guardian report on it is sufficient for you.

      • What paper, Flawed? The Lancet one about cold weather being deadly? That has nothing to do with the issue I’m discussing here

      • OK I understand you can’t read and comprehend at the same time so you have to substitute it with some more of your childish name calling.

        I was talking about the original paper on the causes of the extreme cold. Don’t go near it!!! Better to just get all your truth from the Guardian and ABC – neither of whom would bother reading the original paper let alone critically think about it.

    • truthisfashionable

      You only have to browse Reddit for a few hours before you come across the horror that is work culture in the USA. It seems like an illness to expect to do 9hr days minimum.. especially when half that time is wasted with ‘meetings’, or teaching colleagues to perform a task for the hundredth time, or pulling together reports that contain sections from other reports.
      But, this article seems more of an advertorial for WeWork and the subset of a generation that they try to attract. The people who haven’t found anything to define themselves with other than ‘job title’.

    • I watched ‘Sorry to Bother You’ last night. It’s the best piece of social commentary about how messed up the situation for workers are in America that I’ve seen. It’s so absurd that you can’t knock it for being preachy and condescending and so scathing that you can’t miss the points that it makes so well. Well worth the time.

  8. Voters get frank with Labor over plan to axe dividend imputation refunds
    https://www.afr.com/news/politics/voters-get-frank-with-labor-over-plan-to-axe-dividend-imputation-refunds-20190130-h1amze
    [When even former teachers’ union officials turn against the Labor Party, it suggests Opposition Leader Bill Shorten and shadow treasurer Chris Bowen might have underestimated the depth of feeling over Labor’s plan to axe cash refunds for franking credits.]