Links 5 April 2019

Global Macro / Markets / Investing:

Americas:

Europe:

Asia:

Trans-Tasman:

Comments

    • Now that Domain knows that the investor / landlord market is disappearing, they can tell the horror stories about being a landlord.

  1. Sigh, another day, another poorly written piece inferring that Australia owes something to somebody on the other side of the world and just needs to ‘step up and do more’:

    https://www.smh.com.au/world/middle-east/what-should-australia-do-with-the-children-of-islamic-state-20190404-p51aw8.html

    Who needs to worry about current accounts and terms of trade, or even household debt. This is the real game, Australia’s moral debt!!

    Why can’t we just do more!!

    • “Who needs to worry about current accounts and terms of trade”

      That’s just silly! We’re in a global world (pardon the tautology but one cannot emphasise this too much) Setting yourself the task of trying interest ANYONE in the problem of CAD’s and their implications and causes will just lead you to eternal desperation and misery! Stop now or you will go blind…

      • The Traveling Wilbur

        (hug)

        That certainly would explain the bug-eyes on stomper’s avatar pic.

      • reusachtigeMEMBER

        Well I know I’ll always prefer a MAFS update over, what’s the thing you mention, CAD? …

      • Yep. Computer Aided Design is arcane and no-one is interested. I agree. That is what you meant isn’t it?

      • Yep. Computer Aided Design is arcane and no-one is interested. I agree. That is what you meant isn’t it?

      • My best and favourite Docs were always those who cut through the sh1t and called a spade a spade. Waves at Dr Jack as he rides past on his Harley!

        Suspect our resident Doc here is similar.

  2. fitzroyMEMBER

    More lies from the usual suspects above. Note ho CNN, Reuters, and the Saudi Arabian non independent Independent all have ant -Brexit stories. When did you see a pro – Brexit story from any of them? The rise of democratic and accountable government is never mentioned, nor is the fact that other countries seem to do very well without the dead hand of another layer of unaccountable bureaucracy, not to mention political,power, which is what it is all about. Why would a trading block need an EU army?
    https://www.politico.eu/article/angela-merkel-emmanuel-macron-eu-army-to-complement-nato/

    Remember the EU is run by unelected commissioners and the parody of a parliament cannot initiate legislation. That is imposed from above. Support and opposition for the EU and its shameless transfer of funds from poor to rich crosses political boundaries rendering political parties obsolete.

    I case you missed it Teresa May joined in with Jeremy Corbyn, an unabashed Marxist to sell out the leavers in her own party and her Cabinet (she was in a 10 to 14 minority) not to mention the majority of the British public and 70% other party supporters, vote with a jailed criminal who walked into Partialment with an electronic security tag and took “a no deal off the table” advisory voteby one vote yesterday. The no deal option would be catastrophic for the EU. Any deal TM “negotiates” (ROFL) will sell out her electorate. Her so called colleagues have gone apoplectic.

    https://www.westmonster.com/tory-mps-demand-may-goes-with-70-of-members-backing-her-resignation1/

    Here is today’s balance

  3. Hugh PavletichMEMBER

    ‘We’ve never seen it as bad as it is’: Researchers warn of rising mortgage stress – ABC News (Australian Broadcasting Corporation)

    https://www.abc.net.au/news/2019-04-05/researchers-warn-of-rising-mortgage-stress/10972682

    The pre-election tax cuts promised by both major parties will be welcomed by tens of thousands of households caught up in what seems to be a worsening national housing crisis.
    Researchers have said nationwide mortgage defaults are the highest they have been in almost two decades.

    A spokesperson from peak housing and homelessness body National Shelter, an organisation at the front line of housing stress, said too many Australians have hit rock bottom. … read more via hyperlink above …

    • And all it took to set it off? House prices stopped going up. Fools the lot of them!

      • Hugh PavletichMEMBER

        Gavin … good comment. No longer can mortgage problems be masked with artificial housing inflation.

        In response to your point yesterday, there is gross over – supply of artificial planner induced dense apartment stock, but a gross under – supply of real need detached housing stock. Leith covered this issue in an earlier article.

      • This is nice: https://www.afr.com/news/politics/national/why-i-must-not-go-to-open-home-inspections-20190404-p51ats

        The apartment is old but nice – much nicer than the similar sized apartment nearby I encouraged my daughter and husband to buy in August 2017. It’s also much, much cheaper. Oops. Alert readers may recall my reputation as a family property adviser is in tatters given mid-2017 coincided exactly with the peak in the Sydney property market. My daughter recalls it regularly.

        Whooops! Indeed!

      • @Hugh I agree shortage of homes people actually want to live and raise families in. Plenty of plastic McDonalds like 1 bedroom garbage.

        @Ino that is gonna be a story told over and over. My own mum was pushing me to buy and she later admitted it was for emotional reasons she wants me to start a family and have my own place, for her the financial reasons are secondary. Now prices are falling she’s happy, I’m happy. 😀

    • The Traveling Wilbur

      So to paraphrase Marie Antoinette…

      Then let them live in Apartment’s.

      • Hugh PavletichMEMBER

        Gavin … god on you.

        Never pay bubble prices for anything.

        By definition, bubbles are unsustainable.

  4. BradleyMEMBER

    Am in Sydney currently to assist in taking my mum to radiotherapy sessions. Yesterdays trip to the RNS saw the dedicated cancer parking spot parked in by a young vibrant just as I pulled up. I asked where his treatment parking notice to be displayed was. He said he was going inside to the toilet. He came back 10 mins later and departed so I moved from illegal spot to replace him. In the evening I travelled to Epping to meet an old in my old stomping ground. One traffic light took over a dozen cycles before I could turn and I reckon 500m took over 20 minutes. As I approached Epping rd, traffic was again almost at a standstill and was already late so I diverted down the M2 for a 7 minute drive that cost $7. As I parked near the Epping club, I noticed an elderly Indian gent staring at me. As I got out he yelled that I had parked in a disabled spot. I showed him the sign and the clearly marked spot was next to me. He stared blankly and said I knew I was right and pointed to my Stop Adani sticker and commented that I am right on that too. He then said I had no grace! I then let fly pointing out my long association with area and how dare he tell me what to do. I also stated I was sick of johnny come latelys with attitudes and demanded an apology. He did not reply to another request for an apology so I went to have a much needed drink. Got caught in a traffic jam at 10.30 pm on the way home. I hate what Sydney has become.

    • I’ve moved to Brissie (again) after a 2 year stint in New England. I’m commuting from half way up between Goldcoast to Brisbane now, by train. Plenty of vibrants from what I can see through the week, and I might even catch a taste for frottage as the train fills up along the line.

      • Ino – hang on, you’re a recently arrived Mexican and you are dissing others for being vibrants?? And yeah that corridor from Sunnybank south into Logan attracts heaps of new arrivals (like you :)). Sounds like you need to move to somewhere like Barton or Kenmore where the anglos are still dominant.