Weekend Reading: 21-22 September 2019

Global Macro / Markets / Investing:





Unconventional Economist
Latest posts by Unconventional Economist (see all)


  1. Just heard that David Jones really struggles with sales – even during half year sales. They don’t even bother to call for extra staff.
    This is truly FIRST.

    • I was in Myer last Friday night looking for new jeans. This is Sydney George St. Anyway, pretty quiet inside, more staff than customers. Nobody was monitoring change rooms though! I thought it unusual, but I don’t go into Myer often. Staff for the most part were not very attentive either. Despite all that. If I was a CEO or senior manager I’d be having a word.. staff need to be on the ball.

      • Yep. Although I’m presuming the actions of the CEOs to date are a big part of the reason staff no longer GAF…

        • Yes, absolutely. I mean cut penalty rates etc.. I’m sure staff just don’t care as a result. Watching their wages get crushed.

          • Yup. And also getting rid of experienced full timers who knew about the products and service, put on cheap casuals instead…

      • Staff don’t get commission, like days of yore. And a lot of international students working in retail (hired perhaps for their foreign language skills?), aren’t impressed that they have to work retail (especially those of caste societies).

      • Consider buying jeans and other clothes from Everlane (https://www.everlane.com/)

        I don’t really care about their transparency etc. but the company stands by the adage of do a few things and do them well. Bought a great waterproof jacket and backpack from them years ago and they’re basically likee neew. Their jeans are fantastic.

    • David Jones should ditch being a pure seller of products, and be a service provider. More hairdressing, beauty salons, formal wear hire, dry cleaning, cafes, and perhaps selling clothing accessories or gifts.

      The place to go if you are preparing for a big event – school formals, weddings, nights out, one off events. A one stop shop.

      “David Jones: Where Special Memories Start”

      I’ll have my consulting fee paid in US dollars and gold please.

      • Mystic MedusaMEMBER

        Last century, David Jones was THE supplier for private school uniforms but then some bright spark thought it would be a good idea to cut it, as there was no actual profit for DJs to take up floor space with these unprofitable items. But their saving was more than offset by the losses from the previously lucrative “back to school” period and start of winter term. Thousands of families, would descend on the store and swarm around the place picking up whatever else they needed. They also employed the school kids in holidays and so on. Sure, it was elitist but for a way to garner loyalty you really can’t beat it. So middle class ritual and reassuring familiar icon turned into K Mart with attitude.

    • It’s reasonably well known the hedge fund community that Alibaba is the biggest fraud on the planet. And there are plenty of them listed in the US. Chinese companies (many CCP-linked) extracting billions of dollars of capital from stupid / greedy (delete as appropriate) US investors. You couldn’t make this up.

      Bannon has been railing about this for ages.

        • True story: Strayan company that manufactures equipment in China was being ripped off (equipment was being copied and sold for half the price round the world). The strayan company hired a private investigator who gathered evidence (factory surveillance, bribing staff etc) and they sued the manufacturer in China. The Chinese judge after a lengthy deliberation decided the complainant had to pay $50,000 (Maybe it was $100k) to have the defendant found guilty (I sh!t you not). The money was paid and the owner of the manufacturing business went to jail for a year (from where he continued to run his business and sell knock-off versions of the same equipment!).

          • Looks like Chinese (companies) have carte blanche to rob round eye,
            if you give the CCP their cut. Isn’t that how the Cosa Nostra works…

          • Tell it to the Club of Rome and its past stealing of the tech from Carthage to build ships of war off a wreak … history does not repeat … but echos

          • it really is sad that our govs don’t ban selling those products in Oz/elsewhere. I’ve made a choice, as far as possible, not to buy CCP products, and that can be difficult, but I’m paying more on principle. The thing is that “made in Germany” might be made in china in reality. If you look at the EU into Germany they have a very big trade imbalance with China now…so what’s made in Germany now? Also AMZN quote 28% of their products are made in China, but that is just to put the Donald off … but I don’t think it worked…fake news??

          • Dom, I brought a second hand genuine Minelab GPX 5000 and have done a bit of detecting and when I was in Maryborough VIC the guys at CoilTek showed me a ripped off one out of China. Apparently they sold a lot and on Alibaba. In addition to that they went on about a whole lot of ripped off Aussie products.

          • I knew you’d pop up sooner or later, Smithy. Markets hey? Idiot strayan company gets ripped off by corrupt Chinese company – you’re right, these things happen (it’s known as business risk). But they entered into their agreement of their own free will. Sometimes these things work out, sometimes they don’t. When they don’t, you change supplier, no? Perhaps we could produce them here at a 10% mark up? Oh no we can’t because land prices are obscene and the minimum wage is crazy.

            It’s pretty obvious — except to those who need hand-holding and nurturing

          • Yes Smith. I guess we need more gubbermint to solve all this hey?
            This is happening in a country where government has total control you retard, think about that.
            Did you forget about power corrupts etc. Must be a utopia though according to your way of thinking.
            What I’ve been reading from you over the years I can only come to the conclusion that you have very little real life experience and haven’t got a clue about human nature, yet sit there pontificating your drivel.

          • Dominic …

            Thought this might interest you:

            If China was stealing US tech for years, why wasn’t anything done to stop them?

            James A McCoy Jr., works at McCoy Global Initiative
            Answered Jun 15, 2018

            The word stupidity was thrown around in the responses. The situation was not created by stupidity but by greed.

            China was a poor, backward country that foreign investors and corporations came to take advantage of. Along with the lack of development came a lack of legal infrastructure. No labor laws, no pollution laws,…. The communist nature left a void in intellectual property laws.

            China was not stealing technology. Stealing is a legal term. Everything that was done was legal. Those companies chose to do business in China, knowing that they did not have legal protection.

            They continued to do business in China because they were making more money than they were losing. Then things changed…inflation, labor costs, shipping etc…suddenly the losses seemed greater.

            China did not need to change their laws as the situation was not hurting them. Now they are feeling the pressure to change.

            If every company harmed by the lack of legal protection pulled out then the laws would change fast. If they are still in China its because the benefits outweigh the risk.


            I would add that I was there watching the whole thing unfold, everyone and their dog ran to China for first mover advantage and a quick pay day for squillions, never even considered long term ramifications. Now it seems some need to white wash history to they don’t look like idiots and sell outs to the unwashed – China stole all your stuff …. but the money we made doing it is all ours … we earned it …

            BTW their is a book called the ‘Entrepreneurial State’ highly recommend it.

          • I know that industrial espionage / copying has been of all ages Skip.
            Just the sheer scale of the lying and cheating that goes on in China is off the scale.
            The pure greed is scary. They took all the dirty tricks from Wall Street and multiplied x100. You can’t believe any numbers that come out of that country. Living up to a contract is optional.
            I know people that mingled with high up Chinese. These people have a dark soul. You always have to wonder what they really mean when they speak by reading between the lines or by what they are not saying. How mentally exhausting is that. People disappear all the time for whatever reason never to be heard from again.

          • Sacha ….

            Really can’t find any distinctions your trying to make considering the influences of the Chicago school, Reaganomics, Bill Clintons re-bottling it as Rubinomics – Thirdway, Milton’s share holder value memes that gave us the Pinto as its first offering and now Boeing, endless attempts to privatize social security and medicare, short list.

            Then you have 5 eyes and corporate media screwing peoples heads on backwards.

            Is it possible that both are bad in this regard, because I’ve seen the same in the U.S. not to mention prison population [slave labour to C-corps], endless wars, huge environmental problems, declining education, health, and life span, etc, I actually expect more as things get frisky.

          • Does it always have to turn into whataboutism?
            Looks like we have to make choices soon. And for all the US’s faults I still rather deal with the Yanks.

          • Skip, I actually agree 100%. The Yanks came to China of their own free will and, contrary to popular opinion, are not required hand over IP. That is a myth.

            There is no God-mandated requirement for the Yanks to be in China at all — if they ‘re not happy they’re free to leave. The ‘Mericans are used to having their way in most markets and are annoyed at how they’ve been treated there. They want much greater access to Chinese markets on their terms and the Chinese have ‘nup’, this is how it works, take it or leave it.

          • Dominic

            The surreal bit is many used this occasion to argue that cheaper consumer prices negated the need to increase wages, on the old saw of inflation fear mongering, all whilst the C-suite was earning 240-1000+% above floor wages.

            Now the drama is Mfg is not coming back to the U.S. but will seek new arrangements in the region due to supply chains and cost of business. Why would a country struggling to create inflation no matter how many trillions are thrown at the financial markets create its own trade shock, with a country that has manifold the inflation and potential to develop its internal market.

        • I’ll take a look Sacha. Alibaba is a huge story. I don’t think there is one Black Swan when the next crisis hits — there’ll be several, including not only absurd amounts of HY/BBB borrowing but also another Dotcom / China Tech bust. Oh. and ETFs.

          It’ll be the perfect storm

          • Yeh. So many people tired of paying 2 and 20 to some fund that’s not able to beat the market. What is easier than to just do your own investing by buying an index ETF, and they all consist of the same securities. A lot of smart people saying that the market at one point could go vertical down when ETF selling starts. When you sell an ETF you sell the bad securities, but also the good ones, so nothing to keep the market up, there will be no bid.

    • Stewie GriffinMEMBER

      As Ermo said, there is only one race, the human race.

      Race use to mean black, white or Asian, but the evolving view and use of the term ‘race’ is on the degree of genetic relatedness or what could be termed large extended, and slightly in-bred, families. Thus it is increasingly possible to apply the filter as thick (as in black, white, Asian) or as fine (as in various clans of Scotsman) as to what constitutes ‘race’ as you would prefer.

      A cool chart on native genetic populations or race in Scotland about mid way down this article. https://www.pnas.org/content/116/38/19064

      Historically there were viewed as being 3 human races, Negroid, Mongoloid, and Caucasian. However the adoption of extreme left cultural marixist positions by the majority of Anthropological studies in the Baby Boomers cultural indoctrination revolution requires the belief that all of humanity is all genetically identical (other than superficial traits) and the differences in outcomes between various populations are always and everywhere a reflection of social power structure.

      This resulted in the “out of Africa hypothesis” from the 1960s gaining popularity and following ‘there is no such thing as race’ has subsequently becoming the standard moral and pseudo-scientific viewpoint by those who hold the reigns of our social narrative.

      Interestingly the most recent genetic discoveries are undermining the Baby Boomers and progressive lefts preferred adopted athropological history by suggesting that the older, more ‘racist’ Anthropological view, when it was based on science over feelings, was actually the more correct.

      That is that the broad racial classification of Negroid, Mongoloid and Caucasian was broadly correct, as each of those broad population groups, isolated by continents, deserts or mountain ranges were distinctly separate, resulting in uniquely identifiable genetic markers and characteristic, that may or may not be responsible for more than simply superficial differences in outcomes.

      For example those people of Asian and European ancestry have between 1-2% Neanderthal DNA, while Africans have none. Asians are further distinguishable from Europeans by the presence of a similar amount of another ancient linage of hominoids in their DNA belonging to the Denvosians. Africans on the other hand, have neither Neanderthal or Denvosian but do appear to have traces of another ‘Ghost’ linage of an ancient but as yet undiscovered hominoid:


      The implication of these results is that the previously viewed ‘unlikely’ multiregional evolution of modern man is actually the more likely explanation for the genetic differences we see around the world.

      Of course there will and is variation and co-mingling of these 3 broad groups at the various boundaries, and statistically there is consistent graduated diversity across all population groups, but it remains possible to say at the next level down from saying “There is only one race, the human race”, that there are at least 3 races, broadly Sub-Saharan African, Caucasian and East Asian. After that the pendants can take ‘race’ as far down to their Hill Billy cousins as they’d like.

      • Phrases you won’t see in the standard comment on “cultural Marxism” and the “extreme left” somewhere on the internet in 2019:
        – rate of exploitation
        – labour time worked v labour power
        – theory of surplus value
        – organic composition of capital
        – contradiction between the productive forces and relations of production
        – differential and absolute ground rent
        – tendency of the rate of profit to fall
        – class

        • “Marxist economic theory”.. you mean Marxism? As in actually existing Marxist theory not some Peterson style social media cliché to sneak in to non-Marxian topics in order to add gravitas?

        • Stewie GriffinMEMBER

          Oh look everyone!! – A sea lion!!!

          Maybe if the topic was discussing Marxist economic theory and not race and how anthropological studies have been completely taken over by progressive cultural Marxist nut jobs, then some of your talking points might have come up?

          Things you won’t hear from a cock sure arm chair economist when they pompously dismiss toxic cultural values, as a ‘Peterson style social media cliché to sneak in to non-Marxian topics in order to add gravitas’… you will never hear about the ratio of Democrat to Republican professors in different science disciplines:

          • Engineering = 1.6:1
          • Economics = 5.5:1
          • Physics: = 6.2:1
          • History = 17.4:1
          • Sociology = 43.8:1
          • Anthropology = 133:1

          (Mitchell Langbert, 2018)

          Why is the ratio important? Because it represents an extreme lack of diversity in terms of view point.

          The narrative in regards to Anthropology and culture has consequently been dominated by the schools of thought of the likes of Levi-Strauss and Franz Boas. A pair of intellectual Trojan horses from a foreign culture whose cultural objective was to enshrine the validity of alien cultural differences within our society, ie non-assimilation, and subverting the universalism of the West.

          Examined critically, their ‘insights’ mainly works to validates the self justifications of their particular ‘cultures’ refusal to assimilate into our own, while deliberately romanticising the virtues of non-Western societies (aka the noble savage) and doing all he can to propogate views that Western universalism and enlightenment were simply masks for ethnocentrism, colonialism, and genocide.

          THAT is why I mentioned ‘Cultural Marxism’ in regards to race – because Culture Matters, and the domination of political view point in regards to Anthropology and Race by far left progressives and the post modernist lens they view everything through, means that there is no middle ground in virtually any of the discussion taking place in those areas. It is either left, or far left, there is no middle remaining in the discussion.

          Perhaps if you weren’t so arrogantly dismissive of other lenses through which to view the world around you, you might start to considering the importance that cultural values play in forming the starting point for solving or analysing so many of the things on your little list?

          Peterson has many faults, but at least he has sufficient awareness to acknowledge the importance of culture and the way it influences values and the decision making processes that is built on top of them, i.e. how we solve problems like those found on your little list.

          So here is a another fish:


          And here is another even bigger fish for the pillock who deleted my earlier comments, eat up, you obviously need the Omega 3


      • WOW the cultural purity by dint of ethnic skin colour is upon some, hay Stewie an apprentice on our crew recently had a DNA test out of curiosity and found out that besides having a rather broad Western European blood line that he has a 2% Sudanese taint. He now recons jokingly he can use the N word and apply for a cheap loan to make up for past digressions by the Casper peoples, tho the loan is from them.

        • Stewie GriffinMEMBER

          my answer was an objective reply to the question. I made no mention of purity, but then progressive wankers can’t help but try to taint any conversation of the subject with moral overtones.

          So what, some dued has some Sudanese ancestry and that means we’re all the same? As I said, some co-mingling has always been present, the existence of examples of it doesn’t invalidate the statement that there are three broad racial groups, using the course filter in the application of the word.

          Or was your point just an opportunity to try to slur ‘Casper’ people as being universally racist and hypocrites at the same time?

          • Sorry stew but your premise used the inbred quantifier and used it to extenuate the argument from that perspective.

            It seems your suggesting there is an innate superiority to skin tone that follows some historical perception of undefined success, considering the rise and fall of many … those some are want to focus on their observational bias.

          • Stewie GriffinMEMBER

            The term was ‘slightly in-bred’ which is a technically accurate although layman’s way of describing race. I meant nothing more by it than amusing self mockery, what with Hill Billies and myself both being white – but for someone who passes every statement under the woke microscope of offence, I’m sure like the anal excavator your are, you could pull a million different implied results of it, just like all those currants out of your ass.

            If you can maintain conversational lucidity for long enough, please feel free to go back to my original post and point out all the suggestions of innate superiority to skin tone and/or success that I made in my comment – you won’t be able to, as there are none. So no doubt you’ll try and hide that fact and we’ll all end up getting is some delusional twaddle from you wrapped up in your usual word salad.

          • Cultural Marxism is a dog whistle Stewie, it was a small 70s group of about 3 people that no one heard of until certain ideologues used it as broad brush for everything under the sun. Its right up there with deep state, Illuminati, bilderberg, and a cornucopia of other satanist like constructs stealing peoples freedom and liberty.

            To make matters worse you then use this to broad brush entire swaths of academia as being complicit in this alleged crime. It has the taint of the esoteric going back to court cases about evolution and small ideological groups back engineering genetics to fit their desired conclusion, same can be said of the anti vaxxer movement.

            You also seem to overlook our tail bone, let alone earlier mammalian ancestors, the discovery process is not finished Stewie, so I don’t know how one would even begin to ascribe agency to the slur word Cultural Marxists.

            Your use of it says more about you than it relates to anything in genealogy or anthropology.

          • Skip, just because your pea brain can’t comprehend the enormity of it all doesn’t mean the agenda doesn’t exist.

          • Lets face it Skippy; they may as well be blaming the Salvation Army. It’s just empty decorative words to sneak into 50 character posts on social media to add gravitas and goes down well with the “followers” who wouldn’t know Marxism from their last Uber Eats order.

          • I’m well aware of what constitutes the slur word Cultural Marxism and its actually history, not to mention when some decided to weld it for ideological reasons Stewie. Its in the same context as 4th wave feminism et al.

            Strangely or not the dominate perspective during the neoliberal period has been methodological platonism or atomistic individualism, core axioms to AET and neoclassical economics.

            It is, then, wrong to assume that neoliberal parties or intellectuals embraced nationalism only after the so-called “new right” was in its ascendency, as a means to win back voters or to assuage a supposedly vitriolic and jingoistic electorate. In truth, many of neoliberalism’s ideologues had swerved firmly towards conservative nationalism well before right-wing populism became a serious political contender. In doing so, they anticipated many of the latter’s principal ideological markers, including its conspiratorial conception of “cultural Marxism” and its fondness for Oswald Spengler. – snip


            Do have a peek at the embedded links which should assist you in understanding a rather long and sordid affair, confusing anything to do with Marx during the neoliberal period is quite the stretch of the imagination.

            Just to make things clear in a simplistic case:

            Cultural Marxism generally refers to one of two things:

            First — extremely rarely — “cultural Marxism” (lower C, upper M) refers to an obscure critique of popular culture by the Frankfurt School, framing culture as being imposed by a capitalist culture industry and consumed passively by the masses.
            Second — in common usage in the wild — “Cultural Marxism” (both uppercase) is a common snarl word used to paint anyone with progressive tendencies as a secret Communist. The term alludes to a conspiracy theory in which sinister left-wingers have infiltrated media, academia, and science and are engaged in a decades-long plot to undermine Western culture. Some variants of the conspiracy allege that basically all of modern social liberalism is, in fact, a Communist front group.

            This conspiracy theory hinges on the idea that the Frankfurt School wasn’t just an arcane strain of academic criticism.[note 1] Instead, the Frankfurt School was behind an ongoing Marxist plot to destroy the capitalist West from within, spreading its tentacles throughout academia and indoctrinating students to hate patriotism & freedom. Thus, rock’n’roll, Sixties counterculture, the civil rights movement, the anti-war movement, homosexuality,[3] modern feminism, and in general all the “decay” in the West since the 1950s are allegedly products of the Frankfurt school.[4] It’s also the work of the Jews.[5][6]

            The conspiracist usage originated in Nazi Germany, where Kulturbolschewismus (“Cultural Bolshevism”) was used to abuse political opponents. In particular, Jews purportedly were secretly orchestrating the spread of Communism (Jewish BolshevismWikipedia’s W.svg) as well as promoting sexual & gender permissiveness (“sexual Bolshevism”).[7]

            If anyone rants about “Cultural Marxists taking over culture!”, feel free to remind them that they’re spouting literal Nazi propaganda updated for the modern era.

            Wellie I think that just about covers it Stewie, have a care mate and like I always say … watch out for the first step into the narrative … its a long way down …

          • Your write up above is a perfectly lucid and concise piece regarding recent history. My compliments. And it’s not conspiracy theory but conspiracy fact. Call me the N word all you want.
            If you want one example look at Hollywood, what a diabolical cesspool that is. And that is run by which denomination?

          • Sacha post hoc, ergo propter hoc

            Do you think Hollywood was ever anything but, a cesspool in your use of the term, recommended you study it. Now if you think its not producing the “product” that it should I would remind you they produce what ever makes the most money – its a for profit private enterprise. Not that good old wholesome Uncle Walt is legion for litigation, IP in perpetuity, and even the old Mouseketeers were well know for their drunken sex filled parties on company grounds long ago.

            I would also included the whole ethnic aspect wrt to banks and some ideologues views that resemble the above cultural Marxist slur, problem is the Templar’s started what we know now as modern banking, not the you know whos. It was all to facilitate pilgrimage to the holy lands, till the RCC got concerned about its increasing powers and wealth, didn’t like the competition, but some people can’t let old habits [tm] die for some reason.

            Look I’m just a proponent of critical history warts and all, seems more logical and rational, even if its discomforting.

          • Skippy, favete linguis

            Do you think Hollywood was ever anything but, run by the you know whose from the start?
            And modern banking originated in Babylonia which precedes the Templars by a couple dozen score years. Fun fact, there is also allegedly a very interesting book called the Babylonian Talmud that originated around that time. I recommend you study it.

          • Yeah I was discussing the Babylonian debates with a guy named Beard over at NC over 10 years ago and studied it 20 years ago as part of some theology examination back in the day. Its why I always point out contracts proceed everything including commerce, I was studying PIE history – anthropology long before I took a hard look at the time line of economics E.g. a lot of what passes for economics has its roots in religion IMO. This is why I find post Keynesian better suited from a methodological stand point, not so much antiquarian baggage projecting its historical red shift on everything before one even looks out the window.

            BTW I said modern banking and not the concept of banking itself, but yeah, priests were the original bankers, something to do with the so called magic number 3, society shaped around divine right [ruling class], priests [administrators], and soldiers [force multiplier].

            Some seem afflicted by some sort of romanticism about stuff before they were born, too that I’ve suggested they go back and live it, and then send a post card.

            PS. banking is what it is to day because of contracts, not money forms, so who screwed with that and why ….

          • Stewie GriffinMEMBER

            Yawn – and I am well aware of what constitutes the term Cultural Marxism is as well, I don’t need some slash copy of the definition from a Wikipedia post.

            The cultural marxism I was referring to WAS the Frankfurt school of thought, but unlike yourself I don’t view it as obscure, I view it as all pervasive today. Particularly in reference to progressive politics, where it has transformed the useful process of reflection and self criticism, into a means of unending bludgeoning of Western culture and values by a toxic alien culture that both refuses to assimilate into the dominate Western culture grounding, and instead see’s itself as the rightful moral leader of the West.

            I will agree that it is a term that has been used too loosely, especially by those who have little understanding of the term and what it is genuinely referring to, and instead use it as a media cliché to add gravitas’ to try and add weight to their words as they ignorantly attempt to smack any leftist values on the head.

            That is why I use the Term in reference to leftist politicians like AOC and Warren, while standing in genuine solidarity with many of those on the left like Sanders or those the genuine working class, as represented by the views of say Ermo over Penny Cook.

            As to the link and your absurd claim that the Alt-right is an off shoot of neoliberalism – Pleeeeeeease spare me.

            It is actually yourself whose wandered down the wrong path here. You start off on the money:

            “…the dominate perspective during the neoliberal period has been methodological platonism or atomistic individualism, core axiom…”

            and again here…

            “I was studying PIE history – anthropology long before I took a hard look at the time line of economics E.g. a lot of what passes for economics has its roots in religion IMO.

            Neoliberalism IS very much about the atomisation of the individual, as I mentioned frequently, the pursuit of self over society and the elevation of the individual to the for-front for all decision making in respect of what societies needs lies at the core of both neoliberalism and the toxic cultural values from a particular clique of non-assimilating residents.

            The Alt-Right, with its focus on Nationalism and the elevation of society, and the interests of the majority, back to the for-front of the decision making process doesn’t represent an offshoot of Neoliberalism, rather it is the complete antitheses of it, a counter-revolution to the cultural thinking around individualism that lies behind neoliberalism.

            That is why neoliberals, particularly those whose cultural roots lie within the previously mentioned ‘toxic cultural clique”, such as the likes of Bill Kristol, Paul Krugman, etc are so vehemently opposed to it.

            Not because it is an off-shoot of their conservatism, but because nationalism is diametrically opposed to their cultural values of non-assimilation, and threatens the continued ascendancy of their own population group interests.

            The Nazi’s didn’t hate this particular cultural clique because they dominated finance, as per the popular and completely unbelievable narrative of today – I am a banker and nobody has ever wanted to murder me or my family, but if you actively take steps to dismantle my sense of self, my identity, dissolve my society, then it becomes very easy to see where they were coming from.

          • Hi Stewie,
            I bought The Culture of Critique by Kevin Macdonald a while back. I haven’t read it yet.
            If you know about this book do you recommend it or waste of time.

          • Stewie GriffinMEMBER

            Kevin MacDonald doesn’t have a very easily digestible writing style – tending to the very academic. But imho this book and the lens he uses, is as valid a critique against that particular culture as any that has been levied against the West.

          • Stewie …

            “Yawn – and I am well aware of what constitutes the term Cultural Marxism is as well”

            Not from wiki, seems you missed the whole old wine in new bottle bit as well based on an ethnic slur in forwarding a totalitarian – authoritarian agenda.

            “The cultural marxism I was referring to WAS the Frankfurt school of thought, but unlike yourself I don’t view it as obscure, I view it as all pervasive today. Particularly in reference to progressive politics, where it has transformed the useful process of reflection and self criticism, into a means of unending bludgeoning of Western culture and values by a toxic alien culture that both refuses to assimilate into the dominate Western culture grounding, and instead see’s itself as the rightful moral leader of the West.”

            You probably see things every where Stewie, its called confirmation bias, the rest is some screed about “toxic alien culture” and vacuous framing about what constitutes “Western culture”. You would have to give more concise footings to all these terms and affix them to some time line, its not static. Basically its sounds like a whinge about some notion of past superiority not holding true and its fudie believers having a moment about it all …. it was written!!!!!!

            You also seemed to gloss over all the other stuff connected to those that have been pushing this barge for decades – see Milton. FFS Milton has done more damage than any other during the neoliberal period and is a key architect of neoliberalism or are you suggesting he was a progressive.

            “As to the link and your absurd claim that the Alt-right is an off shoot of neoliberalism – Pleeeeeeease spare me”

            Is that your concept of a considered argument, looks like a hand wave, Warren,AOC, and Sandars are both to the right of Eisenhower, so your concept of leftie is has no historical meaning outside ideological propaganda framing. You also seem to over look the grounding of neoliberalism started with the Conservatives, because of their religious views about government, and preference for atomistic individualism in the market place. Early Christian – Judaic ethos is grounded in it, the creators gifts and distribution of wealth and power. This extenuates all the way through Western culture, the only impediment is the increasing numbers of people leaving legacy religions – en mass. Don’t think the Frankfurt school had anything to do with that, might look at the fact that people are seeing the massive amounts of corruption and various anti social activities over a very long period of time and deciding to not have a bar of it.

            Kevin MacDonald (evolutionary psychologist), do any of your two even know what a evolutionary psychologist is or it’s position in retrospect with cultural psychology. It’s not surprising you two would be drawn to MacDonald and why.

          • Lets see how you can connect cultural Marxism to the Chicago school, supply side economics, Powell memo, Institute for Humane Studies, FEE, Cato, Heritage, the funding for tertiary perches for the right minded pseudo academics, stocking the judiciary with pro everything above SCOTUS giving natural born rights to corps [citizens united], NAFTA, TTP, Turning tertiary education and now attempts to privatize early learning in to a for profit mill to supply the market with cogs and spanners, et al.

            Where you two been all these decades, probably out fighting the pro labour left or anyone resistant to getting monetized and fed into the market.

            Oh almost forgot …. has the Fed since neoliberals been controlled by cultural Marxists … do tell …

          • Stewie GriffinMEMBER

            “Lets see how you can connect cultural Marxism to the Chicago school,…”

            You already did it for me Skippy, Milton pretty much founded the Chicago school, look no further to the link between your awareness of the Frankfurt School and Milton:

            “I was studying PIE history – anthropology long before I took a hard look at the time line of economics E.g. a lot of what passes for economics has its roots in religion IMO.”

            And yes, I do agree Milton has done irreperable harm to the previous exisitng cultural values around debt and money – but I blame his cultural grounding, upon which ideas and values are built.

            As I always say – culture matters.

            Try harder with your Straw Men – there was no imputation of superiority in my desire to see my culture perpetuated other than the fact that interplay of 200,000 years of evolutionary feedback between environment, culture and genetics has produced a culture best suited to my needs (of which Evolutionary Psychology is a component). As is the case for every population group and cultural clique around the world.

            Advocating for its destruction or benignly ignoring the effects of it being smothered by mass migration and competing cultures alla Multiculturalism, is nothing short of advocating for or benignly ignoring genocide.

          • You obviously never read the links above which show the Conservative foundations, additionally its obvious that you either have no knowledge of Judaic – Christian theology or history spanning from PIE to this place in time or playing dumb.

            “Neoliberal Conservatism

            Neoliberalism has always had a strong conservative streak: Hayek himself was inspired by Edmund Burke at least as much as by Adam Smith, and such towering figures of German neoliberalism as Wilhem Röpke and Alexander Rüstow were deeply conservative thinkers. Conversely, Hayek in particular has exerted a considerable influence on the most recent generation of conservative philosophers, with men like Roger Scruton, Paul Cliteur, Francis Fukuyama, and Niall Ferguson routinely drawing upon his ideas about the market, law, and societal order in support of their own conservatism. (The latter, as it happens, received the Hayek Lifetime Achievement Award in 2012.)

            However, what originally remained an intellectual attraction between neoliberals and conservatives has in recent decades morphed into something more closely resembling a synthesis. As neoliberal hegemony reached its climax in the 1990s, its intellectual custodians began focusing their attention on what they purported to be the failures of multiculturalism. Decrying ‘cultural relativism,’ neoliberal think tanks began publishing pamphlets that sang the praises of western culture, which their writers regarded as inherently superior to its non-liberal (read: non-western) counterparts. They proceeded to assert the need to protect national identity from its dilution by immigration and to advocate patriotism and nationalism as a means of consolidating such identity.

            It is, then, wrong to assume that neoliberal parties or intellectuals embraced nationalism only after the so-called “new right” was in its ascendency, as a means to win back voters or to assuage a supposedly vitriolic and jingoistic electorate. In truth, many of neoliberalism’s ideologues had swerved firmly towards conservative nationalism well before right-wing populism became a serious political contender. In doing so, they anticipated many of the latter’s principal ideological markers, including its conspiratorial conception of “cultural Marxism” and its fondness for Oswald Spengler.”

            You’ll notice unlike your – personal opinions – that everything in the post is attributed to the relevant people, in the relevant time line, not only that, but, the sociopolitical variances that occurred during the entire period in question. This is not some vague suggestive CT about some small Dept in some university having the networks and funds to advance a ideological agenda which you or fellow travlers can even point out except in name only …. wheres the supporting evidence … zip.

            I would also remind that I unpacked the whole alt-right movement from a metaphysical and philosophical undertones some time back, think it was to footsore at the time, its just a PR marketing tool to off load past failures and white wash it as new and improved – under new management for the younger generation.

            Whilst were at it Warren is and has been a Republican, switched when the Republicans went totally far loon pond right. Not that some would even know Bill Clinton reformed the democratic party to Third way – Washington consensus, which then makes the DNC moderate republicans. Warren is a technocrat and would be better suited to sec treasury, she did a bang up job on the punt Obama gave her, to their surprise, AOC is a labour democrat as well as Sanders.

            Atomistic individualism is not related to culture ninny, its the foundations of the ex ante axioms to Conservative economic ideology E.g. TINA, Public Choice theory, bad maths and physics economic models, and if you have forgotten Randoidesque perceptions of culture, with a side of old testament. What part can’t penetrate your senses that neoliberalism was a Conservative funded agenda to roll back all the works labour and FDR accomplished. This is their baby …..

          • Skip, I’m a simple man, as such I like to keep it simple:
            1. Find out what the agenda of the Frankfurt School was/is
            2. Have a look around you
            3. Is it working or not

          • Sacha …

            Introduction [Dieter Plehwe]
            Part I: Origins of National Traditions

            1. French Neoliberalism and Its Divisions: From the Colloque Walter Lippmann to the Fifth Republic [François Denord]
            2. Liberalism and Neoliberalism in Britain, 1930–1980 [Keith Tribe]
            3. Neoliberalism in Germany: Revisiting the Ordoliberal Foundations of the Social Market Economy [Ralf Ptak]
            4. The Rise of the Chicago School of Economics and the Birth of Neoliberalism [Rob Van Horn and Philip Mirowski]

            Part II: Arguing Out Strategies on Targeted Topics

            5. The Neoliberals Confront the Trade Unions [Yves Steiner]
            6. Reinventing Monopoly and the Role of Corporations: The Roots of Chicago Law and Economics [Rob Van Horn]
            7. The Origins of Neoliberal Economic Development Discourse [Dieter Plehwe]
            8. Business Conservatives and the Mont Pèlerin Society [Kim Phillips-Fein]

            Part III: Mobilization for Action

            9. The Influence of Neoliberals in Chile before, during, and after Pinochet [Karin Fischer]
            10. Taking Aim at the New International Economic Order [Jennifer Bair]
            11. How Neoliberalism Makes Its World: The Urban Property Rights Project in Peru [Timothy Mitchell]

            Postface: Defining Neoliberalism [Philip Mirowski]


            Don’t know about you Sacha but it seems the founders of neoliberalism had decades of influence before any of your so called cultural Marxists, over 50 years, not that I’ve seen anyone use the term to advance their cause, contra to all the free market greedom advocates. Never saw Larry Summers publicly state “were all Cultural Marxists [Friedmannites] now” …

            Here’s the problem you have to show agency, not make up a one size fits all bogeyman and then ascribe all ills to it post facto, names, dates, networks, funding, think tanks, political affiliation, which can be verified. In case you both missed it the term cultural Marxism asserts that Capital creates culture out of whole cloth and then sells it to the unwashed via the market for consumption. One would think the whole Bernays Century of the “Self” would be a more reasonable argument due to concepts about – individuals – seeking to maximize their utility in the market place or is prax a long forgotten selling point.

            At least Stewie acknowledges AGW, only concern is attemps to hijack it for ideological reasons as it might limit response and keep the same sorts in power that got us here in the first place E.g. Dominion over all things ….

          • Stewie GriffinMEMBER

            Hayek was a gentile, but he was profoundly influenced by the ideas and cultural values of his cousin, Ludwig Wittegenstein. He frequently socialised with intellectuals of a particular cultural flavour and drew deeply from their philosophy ie religion in the formation of his views.

            I never said that Neoliberalism was solely pushed by people of a particular cultural persuasion, I said that the ideas and values that neoliberalism are built upon are drawn from a particular cultural view point.

            Culture matters – take Multiculturalism for example. No unified and fairly homegenous society ever wakes up one day and says to itself “Hey, lets import a multitude of different people and cultures into our society, to use our social capital, and compete with us in order to project our values forward into the future.”

            However if your cultural history is based around your diaspora, scattered over the world and is dependent on maintaining favor with a dominant population, that may periodically grow envious of your peoples successes, then a cultural proclivity towards advocating for extreme cultural openness, and introducing further competing cultural minorities to ally yourself with, will serve your minority culture very well…. not so helpful for the host society, but then that isn’t your primary concern, is it?

            Culture matters – it is the well from which ideas spring, and the starting point by which a society will seek to solve the problems it faces. There was a reason Martin Luther advised burning various houses of worship, their texts and books and forbidding their ideas being propagated.

            The replacement of the US’s Intellectual class, commencing just prior to WW2 started bearing fruit by the mid 1960s, with the repeal of the Immigration Act and the embrace of Monitarism and the Chicago school of economics. That is why there is a massive disconnect today between the attitudes towards debt of the 1920s, as a necessary evil that should be tolerated but not encouraged, best summed up by Andrew Mellon’s liquidationist approach and Paul Krugman “Save the Banks and Debt at all cost”.

            We are where we are because of changing cultural values – what I am saying is that these values did not just spring out of thin air, but are the inevitable result of what occurs when you gradually replace your intellectual class with those belonging to an alien culture.

          • Stewie …

            Then you need to change your term Western culture, because its not a monolithic thing, its totally ambivalent in your use.

            Now were back to money and some peoples concept of debt, again its key to structure what your talking about, debt is not a monolith and some are want to used it in antiquarian context via some esoteric belief.

            Like sweeper said, lots of words just to use two key ones and let peoples imaginations or cognitive bias fill in the gaps.

            Of yet you have completely disregarded all the evidence put under your nose and yet reiterate your claims based on only two terms and apply them with a broad brush. For instance your views about culture, at one time, and its contrast to neoliberalism. It fails because historically what we now call Neoliberialism has roots in Laissez-faire, so are you arguing that Western culture is best exemplified by Laissez-faire.

            Look the best I can do is give you a link and let you try and wrap your head around it: http://www.softpanorama.org/Skeptics/Political_skeptic/Neoliberalism/index.shtml

            Hope that helps.

  2. so the FED intervenes 3 days in a row to prop up liquidity in the banking system. Are we getting close to another shock? Can anyone with more knowledge expand on this please.

    • yeah it’s strange that liquidity is the issue this time around?

      what is all of this cash being used for?
      it coincided with Saudi Attack

      • was listening to my podcast – demand on funds to meet corporate tax payments, and paying out a bunch of treasuries with the extra demand speaker estimated Saudis had pulled out extra $75b as a result of the attack ….

        Fed is lagging way behind with response, and a similar squeeze (only bigger) on liquidity is predicted for Oct/Dec …

        really serious fall off in business investment across OECD economies and ALL OECD economies have lower official rates than US – historically every time US rates higher has been followed by serious recession / financial crisis …

    • Every time the Treasury issues bonds it soaks up liquidity and right now they are attempting to build up their account balance at the Fed by around $200bn — their timing is horrendous because at the same time, two other issues are in play: money supply growth in the US has been relatively weak for a long time now i.e. new liquidity creation has been low by normal standards so there isn’t the abundance there normally is. In addition, Sep/Oct is traditionally a volatile period for risk assets and given the scale of the various bubbles the scope for a market accident is quite large so banks with surplus liquidity would be more inclined to horde it than lend it out.

      Maybe there’s more to it than that – perhaps the likes of JP Moron etc have sensed trouble somewhere. We’ll see.

        • Yes, that too. Ironically, QT ends this month and they’re all but starting up QE with this repo operation.

          Throw in quarter end window dressing In less than 10 days and you have a perfect storm.

          • Does that not beg the question of how it will be sold if’n things go south, contra to the mainstream dominate narrative.

          • No doubt about it. Mainstream economics is in the dock here. They will get away with it for a bit longer though because the average man in the street does not understand economics and assumes that ‘clever people are in charge’.

          • Thought you might be interested:

            It’s always used repos to manage the Fed funds rate. It switched to using the interest it paid on reserves as its preferred way to manage rates when it flooded the system with liquidity via QE. It apparently dawned on someone they might have to go back to relying on repos again. You can find this information in 30 seconds on Google. See here, for instance:

            When the Fed wants to inject money into the system, it buys Treasury securities from its primary dealers in a repo. This puts extra cash into the hands of the primary dealers that they can then disseminate throughout the financial system. When the Fed wants to extract money from the system, it sells Treasury securities to its primary dealers in a reverse repo. This takes cash out of the hands of the primary dealers, which prevents them from disseminating it throughout the financial system.


            What is different is things go so out of whack that the Fed had to do it at scale all of a sudden, as opposed to via its pre-crisis practice of daily market operations, and so it too much looked like what the Fed did in Sept 2008 where no one would repo even a Treasury due to counterparty risk.

            And this is not a “prop up”. The Fed sets the so-called policy rate. The fact that it screwed up so badly is what is noteworthy, not that it determines the rate and takes action to make sure it sticks

    • NC did a post on this, along with some perspectives in comments.

      Seems to be a case of expectations, perspectives, and some being quite off the mark in positioning. One comment juxtaposed the E.U. state in comparison for what its worth.

    • I was at that anti Iraq invasion rally in 2002 in Hyde Park.

      It was so hot, your shirt was soaked in a second.Of course, teh rodent did not GAF.

      • That’s because, in common with most ‘leaders’, he is a sociopath. They are so consumed by the idea that their position is the correct on that they have no issue with telling a million citizens to GF’d.

        Public servant or overlord?

    • Ha, their safety track per passenger mile is probably higher than those places where they require all the passengers to be seated and have sash/lap belts.

      But have you noticed how the rail tracks are double spaced to accommodate for wider track trains too…

    • Protesting won’t achieve jack. Politicians will view the protesters as being extremists or hoodwinked kids and not representative of the wider community. The CEC had the right idea with the cashbans about calling up and swamping the mailboxes of senators and MPs, and I believe this has now extended to calling for volunteers to be part of formal delegates to meet with local members in each electorate. If all the protesters did that they’d have a better chance of having their concerns taken seriously.

  3. So Trump removes some tariffs from number of Chinese imports. And no, this is not because he wants to set the stage for a deal but because those tariffs were hurting his support base. Either way it seems China has the upper hand – for now.

    • and now China cancels the meeting or leaves early so call it what you like.
      lucky I still keep few gold stocks but pity I sold most. Hope SAR and PNR will lift me up.

      • Walking out on the symbolically important farm visit will infuriate Trump… bad move. Are they trying to provoke him?

        Don’t make him angry. You wouldn’t Iike him when he’s angry.

        • What happens when a currency can withstand others attempts at manipulating it with a side of the same for induced trade shocks, all reconciled by who’s consumers are more tapped out …

          • Skipp, your comment is kinda like a blue Lego block.
            Can fit anywhere but it is meant to be somewhere important in the middle of a model of a Death Star.
            Imagine Teller Ede calling every other man uninformed when talking at the briefing on the inner works of his theory.

          • Djenka …

            Granted the comment was not structure for everyone, aside, some are aware of how some have used weapons grade currency manipulation for geopolitical reasons with a side of trade flows to teach others a lesson of whose the boss – contra to the propaganda about markets and all …

            Historically this has a well worn path and even without open hostility it means the unwashed bare the brunt, that then necessitates increased propaganda to externalize internal agency and simultaneously sow internal social dysfunction requiring more authoritarian measures. After all is done and dusted the architects are recalcitrant on giving up the excessive powers established during the period and a new norm is established – rinse and repeat.

          • See, you can do it so it is machine readable.
            One more step down and the audience will expand exponentially
            But keepem posting.
            As much as I cannot be bothered to decrypt everything you say, you drop a lot of important keywords and that is well worth.

          • Trying to cram everything into a little comment has issues. Past experience has shown me the futility of spending the time it takes to be more expansive in syntax and rhetorical flair [not that I favor it]. Not to mention working 6 days a week and everything going on at home, wife just came home after a para shift that started at 7pm last night, then at 9:15 I have to wake her up so she can take dogs to training over at Holland Park, endless list.

            Conversely I have read reams thick economic white papers, that after reading them, checking methodology, reference points, can be boiled down to its base ex ante axioms or synthetic a priori. I would like to back charge for that tax on my time.

            Imagine spending an hour on a comment only to have some newly minted econ grad respond with all under the sun can be model by DSGE and psychology has been refuted – mic drop, it gets worse.

    • …they had to back off some items as they are only made in the CCP now. Until they can get some manufacturing back in the US or friendly no option. overall it’s pretty bad, and the globalists didn’t factor this outcome. It’s way worse than they’ll admit. you can’t re-start manufacturing quickly after you de-skill your population.even the tech made in the US now and for a long is made mainly by immigrants, as the local students went into the law, finance and the arts…very few went into tech

        • The MBA’s and others. The whole system from bashing Corps for lower Quarterly results so they had to offshore or die under the so called analysts pressure. The system is so broken, how will it be fixed??

          • Look if I were to have a punt I would say the hyper reporting had a lot to do with it, because that spawned a whole cottage industry of experts which the executives then deferred responsibility too, was highly gameable, and then day traders were like pouring metho on all of it. Basically finance and product went separate ways like Apple becoming a hedge fund out of Reno, where everyone is force to seek financial income streams in increasing longer duration to meet market demands – I see Bezos has back tracked on share holder value and hes no small tadpole.

            I’m just glad that I’m not part of it anymore, quite happy to apply myself in this niche market I’m involved in, help as I can with the young bloke I’m working with to put a floor under his family, exceed customers expectations [not hard in this market] whilst attempting to pass on hard won skills to the next gen.

        • Yep, lots of reasons, and well done for passing on skills. I coach eng students and find jobs for them in the US as there a f all here, but feel I’m giving back. On AMZN …if you look at their financials it’s hard to see them being such a force without low IR’s with OPEX of 220B annually. He did actually say not long ago that he could go bankrupt. In the meantime he’s into everything lol

          • Yes Bezos went one better than Walmart with funds from his Gov cloud contract and did a sales tax dodge, not that he respects IP either if it increases financial flows. Not all hope is lost I guess because I hear Boeing has changed some internal reporting systems after the debacle.

            Aside do you think its curious how many engineers have made successful careers out of comedy, especially early post WW2 … snicker. On the other hand over 15 years ago I was talking to the recently retired head of Engineering at UQ and gobsmacked at his observation about how physics was being crapified in the field from an applied aspect, market demand pull and computational replacement, misplaced trust in my opinion.

            Sorry waxing here, but, I was lucky enough to be present with the old boys and their mastery of the slide rule, what a completely different perspective from under payed CAD monkeys churning out revisions in say the Bahamas for Bechtel at 20 buck and hour and the bill is 100 bucks for an Oz project. Don’t even ask me about all the internal deals resulting in substandard products to somehow get past QC standards. Then some wonder why everything was off shored and shipped to OZ for rework to met AS/NZS. Not that some are hired to sign the dotted line knowingly its not spec – I regress … FFS

            PS … are we not men …

        • In physics now your right computational is taking over as you don’t need a wind tunnel for example, testing hypersonic stuff, test nukes, any sort of Bernoulli’s sims, and even sintering in power train boiler design and on and on. With Quantum computing it’ll make it even better/ten time faster or more depending on Qbits. Ever aspect of science and unfortunately spying on people will be enhanced. It’s a weird a f uped world that well on it way into you very DNA.

          • I guess the virtual like finance these days is dependent on the accuracy represented in the models, fat fingers and fudging data to reach a predetermined outcome due to funding will present as fat tails. Think Philip Mirowski and Lars Syll are closer to the truth on these matters, who knows my skills in building a fire without someone selling the means to do it is a plus …

    • What China hawks fail to absorb is that entire US arsenal in its quest to break the spine of China has two edges. In hurting China it has to hurt US too. They probably got carried away with success from harnessing smaller “rogue” nations where the return effects were insignificant or non existing.
      Weaponising US$ was another and probably the sole geeatest mistake as it triggered the alternatives to a point of no return. How stupid one has to be to lose milking the entire world in return for a small and short gain.

      • Concur … something like that … the elitists got drunk on their own propaganda … shades of history and post dark ages anglophones taking umbrage at having to kowtow in the heavenly city post IP infringement and the Chinese royalty getting drunk on its own power whilst befouling the Toynbee.

        Could get into the whole Western European emplacement of certain esoterica granting special powers on genealogical grounds and rights to property which incentivized perspectives in conducting legal rights via its perspective on domination on others outside its traditional boundaries.

      • Could it be that the US have spent so much on their ared forces that they are broke and cannot afford to use them ?

      • Tesla is killing itself. $500m loss every quarter and 90.000 poorly made cars being pumped into an underserviced market. Stiffing customers en mass and dudding them over warranty claim as well as the countless Musk lies and broken promises. Tick….tock

    • It’s not a Tesla killer, because it is tackling a different segment, but it has learned from Tesla. The tie-up with Ford gives it manufacturing capability and expertise. The focus on the underpinnings, the skateboard, and keeping that across the initial range, and licensing that to Ford, gives it potential volume. The tie-up with Amazon doesn’t just give it a customer, but also access to marketing. Plus, of course, it can tow that boat Scomo is worried about.The price point sesms a little high though.

      • But the new Porsche Taycan is definitely a Tesla killer (in that segment, at least). I would rather drive / own a car engineered by Porsche than Tesla, but that’s just me ..

      • It was always an issue for Musk types thinking Mfg could be scaled and QC’ed like software in a short time span, takes decades to establish knowledge and supplier networks. You just can’t go out and get the level of experience and expertise from the web, then some wonder why old boys are kept around just for information retrieval at top pay.

    • The Horrible Scott Morrison MP

      Because building an Australian building is complicated and so the need for massive rectification works is never really finished.

      • and the quality is rubbish in every aspect (the profit is the driver). Like your new jet Scott..but the colour is cr*p

      • What is it with flammable cladding?
        Is it vertically integrated modern’t marxist thunking –

        Build a man a fire, and he’ll be warm for a day.
        Set a man on fire, and he’ll be warm for the rest of his life.

    • Instead of calling them buildings, we should call them “fallings” or “burnings”, depending on their particular construction characteristics.

  4. Thomas Cook …

    Is Thomas Cook about to go bust? Your questions answered … The Guardian


    se/Tour operator Thomas Cook teetering on financial collapse … CBS


    ‘Sounds like I won’t be coming back!’: Up to 180,000 Thomas Cook holidaymakers could be stranded as British travel giant faces going bust on SUNDAY – with ministers planning biggest ever peacetime rescue mission … Daily Mail


    • I think Thomas Cook has been in trouble for some time. Classic high volume, low margin business — even a slight downturn in business spells trouble for these tour operators.

      From 2017:

      “LONDON — Monarch Airlines, a struggling British low-cost carrier and tour operator, collapsed into bankruptcy early Monday, ceasing its flights and forcing the government to step in and bring home more than 100,000 passengers stranded abroad.”

  5. is it just me or are indians the new chinese in aus

    i see way more indian ppl now than azns

    why is every mall security guard and trolley collector indian also

    • They are just catching up. Have a look at the Indians in places like Fiji, South Africa, Malaysia. Similar Commonwealth countries to ourselves, but with significant Indian populations for many decades. The former White Australia policy excluded the immigration from the sub continent to a significant degree. What you see now is them just catching up.

      • You mean ‘they don’t do the needful for $2.50/hr’… learn the language matey, or you won’t even get the opportunity to be exploited/underpaid at a sh*tty 7-11.

        • do the needful

          I’d never seen this phrase until it was posted here a month or two back for the first time.

          Now in the last three weeks I’ve seen it (and the inevitable response – “done the needful”) probably half a dozen times on internal SRs.

          Evidently it’s suddenly become trendy in some circles in India.

          • It’s part of their way of expressing they speak a sophisticated version of English – even though for the rest of the world, it is rather outdated and cringe-worthy. Indians didn’t get the memo. Remember, Indians are very status conscious and will utilise any opportunity to show how much better they are than others.

          • ahhyes, the fvcking needful. So sick of hearing it in meetings and seeing it emails.
            Thing is the ones who use the phrase can’t do the needful due to a complete lack of competence.

          • In my industry “do the needful” means I’m not intelligent enough to be able to work it out myself so can one of you whities do it for me.

    • Just look at the history of the Holden factories going back to post WWII. Every successive wave of ethnic immigrant started at the bottom of the totem pole, by the time the Vietnamese arrived the Greeks had moved up, leaving the Vietnamese to work in the foundry, you would not catch a Greek dead in the foundry.

      Great little doco on roads and cars post WWII, wide roads or something like that.

        • You can go and see the very same dynamic playing out in the waves of immigration in the U.S. with the only way to avoid being cheap first gen labour was to head out west and grab some land or win the lotto on a gold rush.

          The deal was new immigrants copped it sweet so they could present – their kids – an opportunity above what they had back home or in the new country. This can be seen clearly in the Hispanic group in Calif and past concerns by others over population ratios and increased middle and upper class ratios as reflective of political outcomes.

          • the only job u took from ppl when you came here skip was the one where someone gets paid to write incomprensible waffle in an online comments section all day

          • So rather than deal with well known socioeconomic factors you prefer to cast aspersions, because it does not support your personal views, am I right. So much of this boils down to I was here first, my olds did all the hard work, and we get to enjoy it now, fob off ….

            This is highlighted by decades of wage suppression and the baked in preferences in the market to seek margin on labour because its has weakest bargaining power.

          • What do you make of today’s Chinese migrant Skip? The 1 with a vast sum of wealth, coming in and buying up the best housing stock and pushing locals out? Personally I prefer my Jimmy Grants as shyte kickers..

          • Its just not that simple Gav … wish it were …

            Say in my days in the U.S. heaps of WW2 vets were mightily P.O.’ed at the Japs buying up everything under the sun, they remorsed what did we fight for again, only to have them come over here and dictate to Americans how to run things. Saying this as an ex Clarion Inc OEM officer IMO and seeing the clash of cultures.

        • no im pretty sure its invariably just indians working in a couple jobs cuz theyre willing to work for low pay to get P.R and other dodgy crap, the idea that there arent any australians who want to do these jobs is b.s; the crappiest most menial jobs get flooded with resume applications from everyone, its no coincidence that only certain ppl are getting hired

        • Indians run the security contractors, at ridiculously low rates to get the contract, afforded by underpaying staff (often their own).

          • At both above, yes the parents will take it on the chin to uplift their kids, what part of human history is so confusing. Everyone is looking for something that is better than the place they were born into due to others beating them to the punch and having dominance in restricting opportunity, something IMO is highly gameable to those that are dominate regardless of ethnicity. Humanity has struggled with this since time immortal ….

          • They have been doing the same with cleaning contracts.

            Need to ban foreigners from cleaning government-funded schools, stadiums, train stations, law courts.

            As I have been saying, ban foreigners from driving buses and trucks here:

            Bus driver charged over deaths of five people in crash near Rotorua, New Zealand

            The accident occurred north-west of Rotorua in the North Island on September 4 amid wet and windy conditions.

            A 38-year-old Chinese national has been charged with careless use of a motor vehicle causing the death of five people.


          • SnappedUpSavvyMEMBER

            Pretty good effort that, killing 5 people on a straight stretch of road. However everyday occurrence in the homeland, I’ve seen it first hand

    • Check out metropolitan train services too (Metro in Melbourne and QR in Brisbane). They are starting to dominate the transport workforce.

      I think they got a foot in the door by saying they worked for Indian Railways even when they didn’t (but something that can’t be checked) and then rose to hiring positions and recruit their own (because we are racist, despite diversity hiring policies).

      • God help us if this place becomes like India. I’ve worked for many bosses/managers. Indian’s are the worst. Bar none.. They expect you to work work work until you drop dead.

        • Just waggle your head, say “Oh, yes” and go back to what you were doing (or not doing, as the case may be). Or at least that’s how it used to be when I was working in India…

          • It’s called ‘the Indian head bobble’ …

            On a different matter, see answer next to yours below (re water/rain)

        • Work work work, and be seen to work. But achieve nothing and put every subtle roadblock in the path of those who want something done from you. It’s the way of the sub-continent. Waggle

          • They seem to put more effort in avoiding work / creating road blocks, then if they actually did the work requested. It’s almost a badge of honor as to how much work they can avoid (despite, actually spending more time avoiding work then doing said work). There’s a reason India is the way it is.

        • Very demanding as managers (and as customers), but then not equally demanding of themselves when it comes to them doing a job or providing a service.

        • They think perceived business equates to real productivity. Scheduling for an email to be send out after mid-night, so it looks like they are working late. Or being in the office early and late, even though the output is not more (and they tend to be on the phone to their parents or partners or children a lot during the work day)..

        • SnappedUpSavvyMEMBER

          Just say 200% sir and then take a nap, they’ll understand… I couldn’t and he got the sack

          • Are you a manager who sacked a “skilled” immigrant on rock bottom wages?

            If so, who did you replace him with?

    • The unemployment rate in India is at a 45 year high – so I guess they are coming here and working for $10/hour instead of voting Modi out.

      I do not understand why they are allowed to stay here despite running an ordinary shop while Ukrainians are deported for running a restaurant:

      The Shchetkovas, who own popular restaurant La Vista in Auckland’s Saint Heliers, arrived in New Zealand six years ago on a long-term business visa.

      However, Immigration New Zealand has recently declined their residency, saying their new business was not approved and was not considered to be of “significant value to New Zealand”

      I would not be surprised if they have corrupted the immigration department again:

      August 8, 2014

      A corrupt Immigration Department official and her husband helped run a $3 million criminal migration racket


      WTF are foreigners allowed to work in the immigration department.

  6. US takes ‘richest nation on earth’ crown from Switzerland

    I thought we are the richest people on earth?

    Few interesting points from the report:
    financial assets of people living in Australia are:
    gross 129,031 EUR (mean) – 14th
    net 68,670 EUR (mean) – high debt – 7th
    net median around 35,000 EUR
    most of out financial assets are in Insurance and pensions (57%) and very little in Securities (19%)
    Median as a percentage of mean fell in Australia by 5% since 2000 (growing inequality)

    but we are champions of debt and debt growth


    • That’s a pathetic net median. Especially when you take into account super. Which Keating said would make everyone wealthy.

      • Yep fat tail and 40 to 60 percent goes poof … so much for store of value and expectations to support one till morte … yet some are opposed to a Treasury backed pension and non profit health care to retain some human dignity post productive years … alas …

          • Neoliberalism was imported, Keating as just the wrapper it was sold with, as such Keating was not the fundamental agency behind the agenda.

      • the most scary part is that stats are from the peak of unprecedented bubble
        imagine the number after bubble burst

        most of our super in invested in property, either directly or indirectly via property related companies including banks floating on mortgages, followed by bubbly mining

    • “The UK Government and the aviation watchdog are drawing up plans for the biggest ever peacetime repatriation if Thomas Cook collapses, with 150,000 British customers currently on holidays overseas with the travel company. Around 600,000 customers in total are abroad with Thomas Cook”

    • I wouldn’t be rushing home. If you’re in a hotel in Greece or Spain that takes Thomas Cook packages that will be like 90% of their guest base. In a week from now you will be in a nearly empty hotel that is suddenly discounting heavily. Why rush home! Call the office, tell em you’re stranded, head for the pool, get another Mythos beer and some grilled haloumi and sit back.

      (Substitute Estrella and tapas in Spain. Sagres and little fried fish in Portugal).

  7. Mining BoganMEMBER

    Pfft…”solidarity” and “supportive”. More like “getting sh1tfaced” and “getting laid”. You know, like the rest of us.

    [email protected] clubs like ARQ were essential places for the LGBTQI community to meet, connect, hook up and form solidarity and supportive friendships in less-enlightened times.”


    I’ve also never heard the the word heteronormative before. Did they make it up for the article? Anyhow, are they saying developers are anti-queer? Capitalism v diversity they say. But capitalism supports vibrancy therefore vibrancy is the enemy of diversity.

    Vibrancy v diversity. There’s the civil war we need.

    • The ABC should move to California and they’d get a bigger audience there. When do they focus on issues that concern Aussies? Some parts are ok, but it really is more an inner city blog

    • Truth is they’re completely unnecessary in the age of tinder and Grindr and legalised prostitution etc

      Just overpriced, loud and inconvenient

      • This social justice bs is a deliberate distraction from the real corruption issues present in every facet of our life. Look where it’s all coming from. It has sucked in the sheep pretty successfully though.

      • Yes I agree. Words like heteronormative need to be burned to the ground. If you wanna be a fruit cake, go be a fruit cake and good for you, but stop trying to change society and bend it your way. When the majority still prefer to have sex with the opposite sex. Enjoy your sub culture and being on the fringe, isn’t that the whole point anyway?

        • Heterowhatthefūcky? . . . That’s it… that’s enough for me today. I’m out. Got a garden to tend to, and an orchard, and a paddock… at least the sh*t that I find in the paddock I can use it under the trees to make nice fruit grow.

          • @LeMon3

            Nah, not really, but the dam still has some water in it. We haven’t had rain in 3 months … green house is irrigated with water from the bore.

            Orchard only now is getting itself straight. I’ve had some nice loquats and cumquats – really nice fat and sweet ones. Looks like it will be a bumper crop of stone fruit too, if the damn water holds before we get the rains.

            Paddock is still greenish… grass isn’t growing much for now, but it doesn’t look like out Ipswich way. I’m making the most of it, because hay is $24 a bale… so the more she keeps eating the green grass, the better.

            In the green house I’ve got pretty much everything coming through, tomatoes, lettuce, beans, beetroot, eggplant, corn, shallots, herbs, garlic shallots… I still have to see how I can put the pumpkins in so they don’t take over… I think I might have to throw them at the bottom of the property, next to the creek, ground keeps its humidity and I don’t really care if they go mad. Last time I did that I ended up with a crop of nearly 800 large pumpkins. Horses were looking definitely *radiant* on a steady diet of boiled pumpkin soup … 😛

          • Sounds like you’re doing alright up there.
            We’re a bit more dire down in the Manning.
            The creek dried up more than 6 months ago, the paddocks are dry and crispy (the steers all went to the abs three months ago), feeding hay to the house cow ($24-$30 a bale, depending on who actually has any in a given week) so she’ll keep milking. We’re also down to the minimum of breeder pigs (all 5 of them) and will get shot of them if we don’t get anything significant in the next six weeks – luckily we still have the local cheese-maker giving us whey, so feed is not an issue for them…
            And don’t talk to me about the orchard. Even the trees in swales are struggling.
            The wallabies are so hungry they’re risking the dogs and eating the roses at my front door!
            We looked at getting a bore, but >$20K, no guarantee and a three month wait to get the rig here.
            And just this arvo, watched another set of thunderstorms pass north and south of us – Port got some and so did Forster.
            Still, go back to the city? No effing way!

    • Point of order, mr president: I suggest to the honorable member for the Mining Bogans that he be careful with ever using the expression ‘getting sh*tfaced’ in an Engadine context. I am only bringing this to his attention because the Horrible Scott Morrison has been sighted, ney smelled in this vicinity most recently.

    • @MB How children played at slaughtering (aachother.) Nice!
      The cynic in me says children’s books & teen literature equals social engineering 101. Every child has to read mandatory Dystopian novel in year 11 or 12, see movie reinforcement and crush on diversity actors playing dress ups stalking, hunting & slaughtering each other. My comment will vanish if I say what I really think. I

      • “…children’s books & teen literature equals social engineering 101.”

        Zero doubt about it. Our education system doesn’t teach the kids how to think they teach what to think.

  8. https://www.theguardian.com/world/2019/sep/18/documentary-follows-pastafarians-strain-for-recognition

    Most importantly, in many societies belief in an established religion comes with certain privileges: from the right to sport religious headwear on your ID photo in the Netherlands, to faith schools in the UK and full-scale tax exemption for US megachurches. “We say, as long as there are special rights for believers, they should apply to all religions,” says Venema.

    • reusachtigeMEMBER

      “The problem is that rationality is just no match for irrationality. That ship sailed in 2016. People now don’t change their minds, they double down on their irrationality, and using facts, science and reason to contest the unreasonable is simply driving us all further apart. Maybe it’s time to try a different approach.”

      Wow. Seriously prophetic. I think it’s time you lot repent, gave up ridiculous over-educated facts and figures, and join this religion for your own sanity. It’s real!

    • And editor, Brendan O’Neill, provides much objective content (more likely his views) in the Oz. He is in good company with Chris Kenny, Planet Janet A, etc.

    • So, IMO, that’s as bad as committing the act. Just like the priests. Also, there really is no fit punishment for these people who cover up, or commit the act, as the person who is attacked has a life worse than hell. How can society ever think this is ok? It’s probably the worst crime against humanity IMO.

      • Mining BoganMEMBER

        Wanna get angrier? This protector bloke was covering for his dad by saying the kid enticed the old bloke into raping him.

          • “My voice is being silenced by free speech-hating Silicon Valley behemoths who want me disappeared forever. It is CRUCIAL that you support me. Please sign up for the free newsletter here. Donate to me on SubscribeStar here. Support my sponsor – Turbo Force – a supercharged boost of clean energy without the comedown.”

            Looks more like A.J. style infotainment, he said as much under deposition.

          • “There are non so blind as those who will not see.”
            Don’t you feel silly Skip, at least sometimes? Getting to your age and still fumbling around in the dark?

          • It’s a special plea with subjective underpinnings, lest some forget ZH used to spew all kinds of off the wall suggestions like HAARP and one world government, hows that going.

            Still chortle about Marla …

          • So you dismiss a whole site because they have some stuff that is a bit too out there for you?
            I don’t dismiss you because most of what you write is incomprehensible prattle and word diarrhoea.
            If you would take it upon yourself to have a gander every now and then you would find there is a lot of good and useful info on ZH. The OWG is still being worked on. After The League Of Nations and the UN we keep trying, watch this space.

  9. Prof Frank Stilwell’s presentation to the 128th Annual Henry George Commemorative Dinner, Wednesday September 4, 2019. Frank takes us through a journey of economic thought, but not before positing an interesting hypothesis on our ability to understand in a sea of information. From this, we hope you find the study of various forms of economic theory as important in terms of a well rounded approach to policy making. Frank’s new book is The Political Economy of Inequality.


    The Prof takes a while to hit his stride but it is worth it when he does. The speech, and Q and A that follows, is much broader than Georgism. And I’m pretty sure that it is LVO that asks the first question about a UBI. Well worth the time.

  10. I think ‘global warming’ needs a name-change.
    If they said ‘four corner warming’ they’d have a support position of ninety degrees…

    • high volatility on very low volume is what you are seeing right now

      It says little about trend – this is very similar to what happened in some US cities in 2nd quarter of 2007. Prices in SF for example in just few months recovered the losses from previous few quarters but on low volumes (not as low as what we are seeing atm). Everything started looking fine again just to resume crash few months later

        • He ouwe reus. Hoe is ‘t nou?
          Another Dutchie here.
          Been in Aus 15+ years, can’t believe how it has changed.
          Could see where Europe was going and got out, now it’s getting the same here.
          Where next? Tired of running.

    • there was an auction 2min walking distance from my place and did not bother to check it. watching from my window (second floor) I noticed there were bids and one of the agents going back and front negotiating final numbers. Not sure how it played out as I did spend more than 60sec watching.
      I do hope it sold for record price. I really do wish prices to go up another 3-4% by Christmas and I am not joking I am serious. I want to see every last bag holder to load up and pump the prices back to 2017 levels. It will work treats with declining full time jobs, high paid jobs and any jobs.
      And no, we don’t need external shock to blow ourselves up. Yes, it will take bit longer but we are not far. Oct rate cut will leave RBA with even less ammo while punters will surge even more because cut teh rates..
      Ideology driven Gov will be too slow to react with their fiscal because they want to bask in the surplus glory. It will be ironic if they don’t even get to the surplus..
      And if there is global shock then it will be even worse but I do hope we go down before that so Libs can’t blame anyone – they will blame Labour and everyone will believe them off-course.

      • Heh!
        Nil desperandum, 18 months remember?
        Anyway, I have this ominous feeling that Australia is truly frkd this time.
        Can’t believe ASX still keeps going up, market supposed to be forward looking etc.
        What am I missing… Bueller, Bueller?

  11. Mining BoganMEMBER

    Rugby people, how much artificial grass is in the playing surfaces in Japan? It looks amazing!

      • Mining BoganMEMBER

        Had a bit of a delve online and apparently these surfaces are about 3% artificial mixed with the grass. No idea how they do it but by jingo it stood up well. I went to the Australia-Ireland game earlier this year and watched the ground disintegrate under the scrum power.

        I’m finding this stadium and grass sorcery very interesting. Shows how exciting my life is.

        • Most Aussie stadiums are buggered due to booking too many non-sport events in season – monster trucks, dirt bikes, concerts with fake castles etc.

  12. anyone has any experience with MetaStock terminal. First day trial and already want to throw it away. If it’s not for the news they have..
    I am also trialing Infront which is 700% simpler to use but Reuters data and research capabilities seems very powerful. But working out how to use this thing brings to close to nervous breakdown.

    • I was headed there until I ended up in FX – so no first hand experience, but I’ve owned & played with a few others. What do you want from it? charting, backtesting, screener? EOD, RT?

      • just got home.. RT (commodities), Analysis, Monitor Various News. Just to set it up to show me all relevant data so I can spot opportunities or risks.
        I subscribed (3 month trial) for Asia Pacific Data and Worldwide Commodities. Weird thing is Commodities module does not show prices on few base metals like Lead, Zing, Nickel and Iron Ore. I went off at them as they charge fair bit and looks like they will ask for more to unlock data for these metals.

        But I am slowly getting there as before I checked MB I did spend about 1 hour playing with it and I am getting there but still not happy,,

        • The data feed + extra’s is an old thieving trick, as is delayed Vs real time. Some I’ve met just use Kitco. I take it you’re daytrading or swinging? Stock screeners can cut out a lot of noise, give you good thematics, filter what’s started moving & help brain bandwidth too. Screeners don’t have to be 50 lines of Boolean, just a few well thought out angles that send up a few candidates that are waking up or moving & are liquid enough for you to peruse further….. A freebie for US is Finviz, & a cheapie screener for Oz that does it well enough for me is Incredible Charts (no affiliation). FWIW. Good Luck with the journey.

    • What do you want to do? Are you looking for a simple trading platform or do you want to do data analysis for backtesting, algo’s etc?

    • Ha …they’ve put a limit on our wealth already…classic. So can we imagine Bezos actually giving away any money (other than is divorce which was one of the biggest) given he pays zip tax, and can move his wealth where ever…all the while sucking the $’s out of the USG via his AWS and defence and spying projects. All the while owning the WaPo and pushing a socialist agenda for the rest of us. I’ll be interesting to see if this flies. Bill Gates and a few others have said they should be taxed more, but if you look at what they then do with philanthropy, and it’s tax treatment, they end up being even richer. BG wealth jumped 50B I think this year…no need for a Power Ball win for him.

    • reusachtigeMEMBER

      Fck I hate youse commies. If everyone strived to be extremely wealthy we’d have a much more successful society. Instead we have you underachieving lot. I blame over-education.

  13. TailorTrashMEMBER

    I gather that great British (Indian owned ) car icon Land Rover are in a spot of financial bother .
    I’m not really surprised as all their recent offerings have morphed into round @rsed things indistinguishable from a Hyundai
    I don’t think the new defender will save them either, doubt if the the die hard Landrover tragics will be rushing out to buy one .
    ……not sure this will be a success either ………brands are hard things to build

    • if reliability and quality is improved, a lot can be forgiven.
      look at camry or corolla… dog ugly but top reliability still sells them in millions.

      • Yep, asked the inevitable “reliability” and “what cars to you have the least problems with” question to a mechanic we know, Corollas’ are top of the list by a mile, Toyota’s in general. Second’s? Subaru’s, Honda’s and surprisingly i30’s. Said the i30’s have consistent mechanical problems but they’re not expensive to fix.

  14. Ok MB brain trust. At some stage before the end of the year I’d like to punt a speccie $500 on an ASX listed silver miner as a bit of a possible PM boom roller coaster ride entertainment. Any suggestions? I’d prefer this to be a pure silver play if possible (I’m aware they’re pretty rare)

    • Yeh! Stop the Apartheid between white and black! Um… I mean black and black. Gosh, getting confusing now.
      Lucky they’re not rashist or sumpting.
      I worked with a lot of coloureds in my line of work. Very well brought up and polite people. Most of them hate blacks.
      If you want to experience hardcore rashism go to any country in Africa. Or any country in Asia. Or any country in Latin America.
      But white man bad (and stupid), have to keep paying for passed sins. The biggest slave traders were the Arabs. I would like to see the House of Saud getting asked for reparations. Difficult to talk when your head is severed from the rest of your body though.

      • You know what. I was still in Holland when that happened and Europe was already turning into a real shit show and I thought: That is great! At least the Aussies stand up for themselves and don’t take any shit from invaders. ‘If you don’t like it, frk off!’ What is wrong with that?
        Now it has all devolved here also. Unfortunately the majority of Aussies are too polite.

      • Thought the bit about daughter being a diet blogger [ ex-oxy addict ] and him using her – all meat – I’m feeling better than ever was cute. Its just so Alex Jones with income stream beanies whilst making a stink.

          • I am just in awe that you know what he is on about.
            Skippy’s scribblings are in the Mad Hatter vein and mean just whatever he chooses them to mean.

          • I had to read it twice, but I got what he was on about.

            @Skip – I dont’ agree with his “ALL MEAT” diet claims, neither do I agree with his (JPs) views on climate change. But on political correctness and responsibility etc.. I do agree a lot with what he says and how he articulates himself. Like I say though, we all have flaws, people claiming global warming may not be caused by human’s in my mind are either ignorant fools (who have never studied any kind science) or know better and profit from the status quo.

          • I think I pointed out the business plan a long time ago, FB, various web funding pleas, you name it, some seem to have forgotten it seems.

            BTW pleas of ignorance is not a well supported argument.

          • I understand your saying hes correct in your personal opinion, yet that does not grant it a fact. Seems compounding error is something you enjoy, speaking for everyone else and what they are or are not doing. You have no way of known any of these things, but quite energetic in asserting them.

            BTW its not my fault some make these people Messiahs that pull identity strings for a payday.

    • Poor bloke has 2 brothers willing to blow him up, all because he brings dishonor his family for being an Ice Addict..

      But this bit is what Peachy loves to bang on about..

      “It’s a good country to live there. Even if you can’t find a job. Australia is the best country in the world. I love Australia.”

  15. NEW ZEASLAND: Why are the urban road – wreckers being allowed to get away with it ? …

    Who’s really in charge at Auckland Council (SHORT VIDEO – Auckland Ratepayers Alliance) ?


    The major focus of urban planners must be on maintaining or restoring affordability and mobility.

    What important lessons were learnt from the excessively costly and destructive Christchurch earthquakes ?

    Why are our elected representatives at local and central level failing to hold these urban planners to account ?

    • From the ’70s on people in the developed world were told that it was not responsible to have many or even any kids because of the earth’s sustainability. Meanwhile we were sending tons of food and medicine to the poor dying Africans and they multiplied unrestricted in an area where they had no future. Now supposedly we need immigrants because demographics (really to keep the ponzie scheme going). What a mess.

  16. 50 Years of Failed Eco-pocalyptic Predictions … Competitive Enterprise Institute / Kiwiblog


    … concluding …

    …. If one did not have the hysterical predictions (which the authors rarely concede were wrong, even after they clearly are), then people would be less skeptical of the actual environmental challenges we have.
    Climate-Alarmist Parents Warned Not To Cause ‘Eco-Anxiety’ By Terrifying Children … Zerohedge

    Only 38% Of Americans Believe Humans Mainly Responsible For Climate Change … Statista / Zerohedge


    By now, most people have accepted that climate change is real, and that it is happening. What we can’t all agree on though, is what the main cause is. As Statista’s Martin Armstrong notes, close to an absolute majority of the world’s scientists are adamant that we as humans are the main factor behind the speed and extent to which our climate is changing.

    When though, like YouGov, you ask the people what they think, the picture becomes a bit cloudier. … read more via hyperlinks above

  17. Sometimes these guys just amaze me with their lack of capacity to think things through, or even have contact with people from within the society they are seemingly concerned about

    Liberal MP Kevin Andrews attended far-right demography conference with Tony Abbott https://www.theage.com.au/national/liberal-mp-kevin-andrews-attended-far-right-demography-conference-with-tony-abbott-20190921-p52tk9.html

    Long-serving MP and former cabinet minister Kevin Andrews presented an address titled “Demography is Destiny: Families and Future Prosperity” in which he called for sustained policy action to address declining procreation in countries where marriage was becoming less popular.


    In his presentation, Mr Andrews praised Hungary’s “efforts to address the population challenge”, saying they were “a commendable example of measures that nations will increasingly need to adopt if they are to avoid or mitigate the economic, social and cultural consequences of population decline”.

    “Popular ideas and current lifestyle choices militate against the acceptance of appropriate policy responses,” Mr Andrews said.

    The simple reason why population and procreation is declining in Western civilisation is because Western civilisation has decided a generation ago to submerge their working classes in debt, and an awful lot of households in Western civilisation, mainly ones where a male incomes are either the bulk or the sole source of income for that household and which are increasingly based in positions which are being offshored, outsourced or expunged altogether have have posed for themselves a few simple questions.

    1 – If we have a child are we doing the right thing by that child in bringing that child into a world to become a debt servicing peon?
    2 – If we have a child can we provide an education and opportunity base for that child whereby they may stand a decent chance of not being a debt servicing peon?
    3 – If we have a child and the child becomes a debt servicing peon, will that childs life experience and quality of life be better or worse than it currently is for debt servicing peons?
    4 – If we dont have a child are we going to experience an increase or decrease in our current quality of life (and improve or decrease our current ability to service our current debts?)
    5 – Are current socio economic trends vis:-
    – Housing costs,
    – Energy costs
    – Financialisation of public services and Education,
    – Tax cuts for the uber end of society and the corporate world,
    – Global warming,
    ……..Looking like improving the situation being mapped out in answer to the above questions?

    6 – Is there anything on the political radar likely to change anything about the dynamic mapped out in responding to these questions?

    and that of course is well before posing the questions……

    7 – If the relationship fails and the divorce ends up before Australian law, is one of us likely to feel cheated in direct pecuniary interest, or in opportunity cost foregone? And will any children we have be central to that possibility, and will they subsequently carry the cost of that for their lives?

    8 – Will our love be stronger, our shared time together more pleasant and happy, and our quality of lives superior for not submitting our relationship to the pressures of the above?

    9 – Given the fairly overt certainty that the economic pressures implied above will mean we are doomed to failure if we actually marry, should we remain unmarried – with separate bank accounts, jointly sharing the food and energy costs and probably with separate bedrooms too (just popping across for the occasional hoppo bumpo session in between work, social and porn commitments) – which largely circumvents the prenuptial agreement visited by Law upon all person cohabiting unless they have expressly contracted a specific prenuptial agreement before law, which invariably runs the risk of turning one of them into a chattel for the life of the relationship, should it end?

    and finally……

    10 – Would it be easier and simpler to stay at home and watch the footy/real estate results/home improvement shows/national geographic channel/netflix movie of the month (or go out and get obnoxiously tanked with a load of mates) and kept the whinnying down with a regular self rub, and a once a year pop over to somewhere where one can score an inexpensive sexual gratification experience with someone whose sole claim on the applicant is cash on the day, and who will head off into the street afterward with low prospects of ever being a life factor for the contracting party again?

    Dear Tony and Kevin, you do not have to travel to Hungary for the answers you seek (unless you really want the travel allowance). Pop down to Geelong and I can take you to large numbers of punters with children, who all have reservations about whether they would advise their children to have children (let alone whether they would advise them to stay in Australia to live out their lives as a debt servicing peon in the economy your side of politics has taken the lead role in creating for more than 25 years).

    Better still, I would guarantee you there will be people living within a kilometre of where you live who will tell you much the same…

    • Every time I see a little person I shudder thinking of their future.
      You might want to teach them about the real world but then get them back re-booted after copious indoctrination in our brainwashing centre that is the public school system.
      Still people keep breading. You either have to be brave or ignorant to put kids on this earth. Knowing a little bit about humanity I’ll have to go with the latter.

    • You seem to place your personal well-being above the national interest – how shocking!!

      Our country needs more debt servicing peons than ever, so it is your DUTY to produce as many of them as possible….. you don’t have to be an Einstein to tell what would happen if the gigantic outstanding debt were concentrated to shrinking numbers of debt servicing peons? I mean, we shouldn’t exactly let them live but we shouldn’t kill them either!!

      Since the selfish locals are either unwilling or unable to take on more debt, our gubbermint has been forced to outsource ever greater numbers of debt servicing peons from overseas. I am not exactly a fan of third world vibrants but, hey, they don’t complain being debt servicing peons!! – and the locals have a great deal to learn from them.

    • This seems to reflect the past where religious views on birth control and say farms required or ended up 4+ kids, the farm thing changed with industrial Ag, and birth control for various reasons. Not that a stack of studies indicate that couples need to focus on career more and more that kids are not as high on the priority list and left to later. Not to mention the whole meritocracy stampede means more money is required to establish ones kids, whack on health, food and all the other over overheads and having more than one or two is a huge chunk of cash. In addition people with more security are less likely to have more kids because they have other interesting things they want to do, travel, education, etc.

      For the less secure due to job insecurity its either a case of too expensive or used to increase welfare.

      Its another own goal for the pay to play, skin in the game, TINA pro market their is no society agenda …

    • Failed Baby BoomerMEMBER

      Gunna, very good, as usual.
      Hey, I have a demographic question for you.
      Has the Indian colonisation of Western Melbourne (Werribee etc) reached Geelong yet?

      • It may well have done, I have Indian neighbours – who are perfectly nice people, and my kids play with theirs – along with Chinese (ditto). There are plenty of student houses near where I live, the local shopping centre often has a significant sub continental presence, and the only people who ever deliver take away seem to be from the sub-continent too.

        But absolutely none of the immigration by formerly (or still) foreign nationals (of any variety – and I should add Geelong does have a lot of Poms here too) – diminishes the cold hard fact that Geelong is first and foremost of colony of generally wealthier self entitled babyboomers, and generally less affluent younger than babyboomers trying to hack out a living for them and their families on subsistence cleaning, lawnmowing, driving and sandwichmaking gigs or bonded to the public sector in a temporary low classification sense or bound and gagged in aged care.

        It would appear however that we should be preparing for more things Indian

        Tourism minister calls on airlines to start direct flights to India

    • There a lot squeakyness in this assertion.
      Number one is the discrepancy of the socio-economic model of low fertilty in piss pot poor countries where family is the lowest demographic computing unit.
      Another factor is offspring survivability to adulthood which reached almost 100% in developed countries (no need for surplus children to offset the potential loss)
      I can expand more but have more important things to do on a nice day… so maybe tonight.

      Oh, and labelling Victor Orban a “Hungary’s far-right leader” is inaccurate and commensurate only with the slap he gave to Soros influence in Hungary.

    • Delete the line “The simple reason…” and it’s a good post. It’s not simple. You didn’t mention that women can control their fertility to an unprecedented degree, both chemically and culturally, for example.

  18. Thanks MB. My life has improved so much now that I cannot access the articles and comment section, except on the weekend. I have realized not much changes during a week’s time. Pretty much a repetition from week to week on immigration, Housing bubble, interest rates, bit of politics, and China.

    Now I’m not only saving money, but also time. For those concerned or living in fear about the above topics and the coming end of the world I recommend putting your head between your legs in the brace position . Will that help? Well no….

    • I have tried to put my head between my legs for an hour but still can’t reach. Not so well endowed as Reusa I guess.
      Can you show me how to do it?

  19. Might be worth Australians paying attention to what is happening in Canada

    Huawei CFO Awakens Canadians to the Long, Strong Arm of China


    Just days after Meng was detained on a U.S. extradition request, China threw two Canadians into jail on spying allegations, then later put another two on death row, and halted nearly C$5 billion ($3.8 billion) worth of Canadian agricultural imports. Pro-Beijing supporters have escalated their harassment of Canadians linked to Tibet, Uighur, and Hong Kong pro-democracy activism, bringing to the fore long-standing allegations of China’s meddling, and there are mounting concerns about Ottawa’s vulnerability to espionage.

    “Canadians recognize that we cannot have a strategic relationship with China of the sort that Mr. Trudeau’s government initially was seeking,” said Richard Fadden, who served from 2015 to 2016 as national security adviser to both the Liberal prime minister and his Conservative predecessor, Stephen Harper.


    Prescient Warning

    A decade ago, Fadden caused an uproar when — as head of the national spy agency — he sounded an alarm on China, saying lobbyists operating out of its diplomatic missions were funding pro-Beijing cultural centers known as Confucius Institutes. He also said at least two provincial ministers and some municipal politicians in British Columbia — home to the highest proportion of ethnic Chinese in Canada — were believed to be under the sway of a foreign government.

    A backlash ensued, with a parliamentary committee demanding his resignation. A decade later, those comments appear prescient: New Brunswick is shutting down Confucius Institutes at 28 schools after the provincial education minister called their curriculum “propaganda.” Last October, three British Columbia municipalities, including Vancouver, investigated allegations of vote buying after a pro-Beijing group offered a C$20 “transportation allowance” to encourage voting for ethnic-Chinese candidates.


    Meng’s case and the fallout from it has forced Canadians to “wake up,” according to Gao Bingchen, whose column in one of Canada’s biggest Chinese-language newspapers was abruptly canceled in 2016 after he criticized a Chinese official on social media. “Canadians are starting to consider: What price do we need to pay to keep what we call a good relationship with China? Can we afford it?”

    The Chinese consul general in Vancouver, Tong Xiaoling, was unavailable for an interview. This summer, the consulate dismissed allegations of meddling in Canada’s internal affairs as “groundless and irresponsible.” Meanwhile, the Chinese embassy in Ottawa has called Meng’s arrest politically motivated and accused Canada of “arbitrary detention.” It rejects any suggestion the arrest of the two Canadians — former diplomat Michael Kovrig and entrepreneur Michael Spavor — was in retaliation for Meng’s detention, saying China is also a rule-of-law country.


    etc etc etc

    • This monster can’t be stopped. The only hope now is for a financial crash in China so big that they have to concentrate all their efforts on internal problems and forget about foreign meddling and expansion.

    • Even StevenMEMBER

      China is enemy no 1. No doubt about it. I’m not even a war hawk but I can read the tea leaves.

      * and by China I mean the CCP.

      • I’m certainly of the same opinion, ES. For some time now, for me, the whole situation/feeling of where you live/zeitgeist(!) has been the same as people I know experienced in 1930’s Germany and neighbouring areas. I feel our security slipping away, being eroded as we, it would seem, willingly “sell the farm” to the CCP. Sorry, Chinee corporations! We may become the Sudetenland that the God/King Xi needs to sequester and protect. But are we any safer, I wonder, if Chine collapses economically? I don’t think so.

  20. ErmingtonPlumbingMEMBER

    I’m looking to buy myself a new hard tail Mountain Bike with 29inch wheels soon and don’t want to spend over 6 or 700 dollars.
    I don’t care about the frame weight to much or extra good front forks but I don’t want to go below Shimano Deore shifters and derailleurs.

    Any opinions on this bike,

    I’m hoping I can get the price down by getting one built without disc brakes.
    I actually prefer V brakes and reckon they place less pressure on the spokes,…esp on 29inch wheels and remembering to that I’m a bit of a fat bastard.

    I’ve also riden quite a few Disc brake bikes and don’t reckon they brake any better and know heaps of people who have had maintenance issues with them including regular pad changes.

    My 15 to 20 year old GT Idrive has got the same VBrakes and easily done 20 to 30,000km.
    Disc brakes just seem expensive and gimmicky to me.
    Wada you blokes reckon.

    • If you are actually mountain biking on it, good disc brakes are hugely superior. However, if you are more rail-trail, gravel-road, gentle ramble thru the forest then v-brakes are fine. They are even usable for mountain-biking, just not as good as discs. However, at your price point, you won’t get good discs, you will get garbage discs.
      Absolutely no doubt disc-brakes are more trouble to maintain if you do it yourself. The are also damn noisy in the wet and pads wear out fast in muddy conditions. You need special tools to maintain disc brakes yourself. All 3 of my MTBs have hydraulic disc brakes (Shimano/Magura), all four of my road bikes have rim brakes. This is how I find the advantage/disadvantage split works out. I mean, this is my preference

    • Disc on my MTB is a pain in the ass due to pads getting soiled & wear. But I do rate them over rim brakes. I’ve switched over to disc on my main road bike as well (as disc has far superior braking). But as above, if you’re not going hard on the trails often then either option will work fine. Disc does come with the extra maintenance headaches. Overall that bike looks good for general fitness rides and some reasonable cross country rides. I wouldn’t have a problem taking it to https://www.westernsydneyparklands.com.au/places-to-go/wylde-mtb-trail/ I just wouldn’t be smashing it over any of the jump lines massively fast (there are alternative trail options to bypass the jumps).

    • If you really want a good Mountain Bike than there’s no question about it you need Disk brakes.
      If I wanted to keep the price down than I’d go with a 1 by 10 rather than a 2 by 9 (interestingly in some ways 3 by 9 is better than 2 by 9 (especially if you never really use the 3rd chain-wheel.)
      The cheapest good mountain bikes that I’ve seen are Aldi for about $330 (they are really good bikes for the money) if you use them as a platform and make some modifications (different pedals, better seat, change brake pads and tyres) than you could easily have a sub $600 ready to use hard tail Mountain Bike.
      I bought one just to win a bet and was pleasantly surprised, I kept it as is and I still ride it occasionally.
      What I have noticed about the cheaper bikes is that the quality of the paint and anti rust aspects is where they’re saving money.
      So areas like the front forks will rust if the bike gets wet The quality of all the orings and seals is somewhat suspect causing bearings to fail when they shouldn’t have failed if a better quality seal was used.
      But if you’re after a cheap bike than that’s still (by a long way)the best that I’ve seen

  21. Wide Open Road – Wide Open Road – The Story Of Cars In Australia (3 X 1 hours ABC-TV … on now!)
    We went round Australia finding stories about cars and people, and how the country changed through the windscreen. Turned into a landmark critically acclaimed series in Australia.


    Very much recommend it as a means to visualize all the changes in Australia during the period in question and why.

      • The bit about cars opening up the bush towns to cosmopolitan city sorts is instructive, same goes for the suburbs and car nexus creating a whole new social paradigm not seen before, including feminism – see granny rally driver.

        • And vice versa – people from the bush/prairies/campagne flocking to the cities.
          I am a bit obsessed with the Snowy scheme atm…they reckoned that some of the people in the more remote towns eg Adaminaby had never even been to Cooma before they opened up the high country.

  22. https://www.youtube.com/watch?v=ZBIkC7nkbWE
    Outside the Golden Cage of Banking

    It’s about BitCoin… I find his perspective interesting..

    In this talk, Andreas covers the history of financial regulation in the United States, and how banks became the cop of last resort in countries around the world. He questions why we have come to accept totalitarian surveillance in our financial lives while protesting against other invasions of privacy. Finally, he argues that Bitcoin will thrive outside the golden cage of the banking cartel.

    • I like the idea behind bitcoin but never got involved because always thought that banks can crush it anytime by stopping transfers between bank accounts and crypto exchanges. All you can then trade it with is others that hold or accept it and have no need for fiats. The theory that they let the people play with it to take the heat off of gold and silver seemed plausible, as a lot of early adopters were also lovers of the shiny.

  23. Mining BoganMEMBER

    I’m calling it. The paedophiles of ScoMao’s church were snuck into the MSM to take the heat off the Chisholm mole. No mention of her anywhere.

    It’s a rather messy dead cat to throw on the table but a dead cat it is. Desperation makes one do desperate things.