Weekend Reading: 7-8 September 2019

Global Macro / Markets / Investing:





Leith van Onselen


      • boomengineeringMEMBER

        Gavin, up your alley. Welding cast iron next week for Tilley Racing. Classic Cars. Have a time frame to finish as it will be racing at Bathurst in a couple of weeks. Apparently it broke the tailshaft which tore the bell housing which broke the block bolt/ locating extension They want me to do it with the engine unstripped. Normally you would have to completely strip it put it in an oven slowly heat it for a day, jig fix the exact location, weld it while its hot and cool for a day, then re-machine it all. Can only take the sump off minimum time as paranoid about crankshaft damage or contamination.

          • boomengineeringMEMBER

            Thanks Gavin, last week did a cast iron welding job on a vintage Japanese motor bike, a far cry to what I liked to work on engines that had to be four storeys high. At least you could reach the bolts walkways for each level.

        • quick question for boom: are you a Mod Plate / VSCCS Compliance Certified engineer?

          also, question for everyone: anyone ever bought a shell bought over from Japan? damn things have no VINs (only model/serial). Can anyone recommended a Japanese car history checker that actually works and isn’t fake.

          • boomengineeringMEMBER

            Butt, used to do it but when they asked me to renew I said no as not that interested in cars and you make a lot of enemies when someone works on something for years then you won’t pass it.

          • boomengineeringMEMBER

            The reason they were keen for me to continue to compliance certify is that there were a lot of dodgy certifiers back then that had their licences revoked because of passing what they shouldn’t have with repercussions and I had a clean bill of health, but that could have been because I didn’t do that many anyhow due to many other types of jobs.
            Off to cycle now, been waiting for first light as its too dangerous when very windy due to hard to see debris on road.

        • Good Luck with that Boom. No oven no guarantees…….? I wouldn’t have faith in it if I were to do it.

          • boomengineeringMEMBER

            Left for the factory 4.00am this morn installing pedestal drill (in parts to move). Have Asquith 11′ high RA drill but horses for courses. Also finished modifying the wood tablesaw to cut aluminum blocks. Atm stripping my very old 3ph pedestal drill to store for parts if you want it let me know. The table height adjustment needs a lot of work. Tomorrow making plastic guards for hydraulic testing client and welding coffee manifold for cafe service contractor.

          • boomengineeringMEMBER

            Colin as a footnote just noticed the pedestal drill is Lampard Engineering Bankstown NSW. Pine for the days when jobs aplenty in Sydney for anyone.

          • Boom, I remember the days where I could just wander from workshop to workshop, but it was drying up by the time I had the confidence/ability to wander too much, although got around more than some of my era. My hobby shop is on hold for the moment as money got tight…… Long story, only enough to prioritise for comfortable trading currently. Thanks for the offer, but for the small stuff I intend doing a small mill will do. Scoffing painkillers makes my ambitions a bit of an indulgence as machines won’t be used as often as I’d like, but something for sanity & to proto a few idea’s I still have…… Life’s just on hold for a little while.

          • boomengineeringMEMBER

            Colin can’t read your post on phone just single letters on right side leaving factory now 1 1|2 hrs drive home will respond then. Don’t know how my ride will go 5.00am. Hope to tap multiple threads in 25 pneumatic new valves as well as the other jobs afterwards. Another RA Drill job at Prestons Mon morn electrical and. mechanical.

          • boomengineeringMEMBER

            Home. Started the day stripping an automatic Enerpac press to use the power pac for making a portable bearing / sleeve press.
            Better go, workout waiting then dinner and shower.

          • My Centura had a 265, cam, carb, extractors & a charger 3 speed. A helluva surprise pack for what it was. Never sounded like that though. Brakes & handling were fraught……..

    • boomengineeringMEMBER

      Live a couple of doors up from PR Technology (Porsche Racing ), a quite mob, keep to themselves a bit.

  1. Someone going for the flip!

    $580k in Feb 2018.

    Quoted range: $640-$700k.

    No way they would sell in the lower range. IMHO..no if trying to profit.

    $877k in Sep 2016


    March 2019 was listed.

    Didn’t sell..
    Back again.
    Asking $980-$1.02M

    For Greensborough, I don’t see it..

    • I’m at a loss as to why having a smoke is somehow significant in this story? Are they likening it to a post coital cigarette? The finger I agree is newsworthy, but why having a smoke? If you are a smoker, stress is a trigger for the need to have one.

      The other odd thing is the poor kid was trapped under a tiny car for an hour. 4 blokes could have tipped the damn thing over and freed him.

    • Driving while disqualified, speeding in a school zone, ran a red light, have drug in the system, and killed the poor kid right in front of his mother.

      Respect the law indeed. Despite the manslaughter charge, he will most likely get less than 2 year.

    • reusachtigeMEMBER

      This is why I hate smokers and want them removed from our streets. They are scum! I feel like k1lling those fckers when I’m walking to the realestate early in the morn and they be walking the street smoking in front of me. I prance past them quickly and sigh loudly. I want them to know they are unsociable sick fckers!! Oxygen thieves, literally.

      • The Traveling Wilbur

        You might want to rethink that. Basically, smokers pay for everyones’ healthcare. The ultimate consumption tax. Thought you’ld be all for that. (provided taxes on cigars are removed of course)

        • Wrong. The tax from cigarettes does not even come close to paying for the billions of health costs from smoking related diseases.

          • +1000

            And if the cigarettes are made from illegal tobacco on which no excise has been paid i.e. every cigarette ever smoked by any migrant in Western Sydney, the community gets zero – just the pollution, carelessly discarded butts and the health costs. But hey, its the vibrancy right?

      • ErmingtonPlumbingMEMBER

        Reusa was clearly using the word “Smokers” as a metaphor for “people of middle eastern appearance”.
        He is a Racist and should be sanctioned accordingly.

  2. Mandatory drug tests for welfare recipients could be rolled out under Government plan – ABC

    Drug test the foreign “students”:

    “notoriously harmful drug” being trafficked

    Youngmin Bae, who is in Australia on a student visa


    addict who acted as lookout for baby powder thieves

    Singh developed an opium habit when at university in his native India

    Singh studied in Melbourne for two years but began smoking heroin


  3. Foreign students? Nah, it’s the grannies on pot that we need to target. All those olds are on drugs of some sort and should be tested regularly to qualify for the aged

    The policy is disgusting and I can’t watch when they are proposing it. How fucking un Australian.

    And of course the media can find people to say – well, I don’t do drugs, so it’s all right by me…. (and I’ve got zero empathy for those that do)

      • Test all the CEOs managing the countries top companies and half of them probably have a coke habit. I’d argue that drug habit has bigger consequences if they mess up people’s money is invested in those stocks.

  4. by way of advice to Phil Lowe and apologies to the Beatles
    When I find myself in times of trouble, Mother Mary comes to me
    Speaking words of wisdom, let it burn
    Let it burn, let it burn, let it burn, let it burn
    Whisper words of wisdom, let it burn

  5. proofreadersMEMBER

    Media tart Captain Phil is the subject of the feature article in the Good Weekend in the SMH this weekend.

    Shame that he does not realise that interest income is a wage (which has long since ceased to be as living one) for fixed-interest -income-reliant retirees and savers when he calls for C-suite CEOs to give wage increases to workers.

    • reusachtigeMEMBER

      Only a stupid CEO would give any sort of wage increase when you can just replace expensive locals with freshly imported human capital willing to work at half the price, or just get the job done in a cheaper country.

    • 3 million people rely on the interest earned from their deposits in this country. Read that several times.

      Central bankers and neo-classical economists have never addressed this issue directly, instead insisting that their ‘models’ are all that matter. Add to which: JM Keynes was a big supporter of euthanising the rentier (saver) and Keynes is their god.

      Sad to say, savings are the bedrock of economic growth so we are consuming our seed-corn right now. Is it any wonder that economic growth is headed into the Gary Glitter.

      • Having zero/negative RAT interest rates means nobody saves (that’s the policy) so others can consume.or invest. The corollary is that this values all the world’s resources at zero or less. There is no limit to the current exploitation to suit the current generation while sentencing future generations to have to make do with less resources to sustain them. Contrary to ALL the modern theories, monetary policy is linked to the supply and control of REAL stuff, REAL production and REAL allocation of resources.
        I’m always amused by all those who proclaim themselves ‘Green;’ and having a superior consciousness about such things while advocating zero and negative IR’s. ( Yes, include borrowings by government in that )

      • ErmingtonPlumbingMEMBER

        “Living off interest” sounds like living off the dole to me.
        Both do pretty much FA work every day.

        • The fundamental difference is that, in one case the person doing FA is getting something for nothing while in the other the person is delaying the consumption of the fruits of their production. And, in doing so, is allowing others to use these savings to produce even more goods. It really is the only way the (real) economy can move forward.

          • Play us out one of those single-variable hypotheticals you love so much about what happens when everyone just sits around with money in the bank “delaying consumption” and waiting to earn interest for doing nothing.

          • Even StevenMEMBER


            If everyone is delaying consumption, there is an excess of savings, the interest rate approaches zero.
            Some of those that did previously delay consumption (either savers or borrowers) go ‘f$#ck it – I’m buying that house, and fridge, and car’ as the consumption delay trade off has changed in favour of buying now.
            Others (savers) feel poorer because their net savings are earning lower interest so cut back on their consumption.
            Others (borrowers) that previously couldn’t start/operate a business due to the loan costs are now able to successfully do so.
            And yet others won’t change how they do things at all.

            So yes, I think if everyone sat around delaying consumption and waiting for their interest payments I think the equilibrium interest rate (and economic outcomes) will change due to the above effects. What do you think will happen?

          • First of all Dominic the whole savings term has nothing to do with the vast majority of wage earners aka labour, its a term in reference to [C]apital and its preferences in deploying it and no people should not deem interest on parked money a right. That’s not to say labour should be forced to utilize banks for deposits with fees and overhead chipping away at it – see postal bank.

            Anywho …. even before interest on labours meager deposits becomes a topic one should examine the consequences of wages and productivity diverging, compounded by the self regulating market view which enabled revolving debt and ludicrous underwriting, but hay lets not get distracted by the big picture and spin yarns based of inaccurate depictions of economic thought after cramming it through some ideological lens …. sigh … C-Corps was looting in the 70s … now some are banging on about IR for labour savers …

            Next thing you know and your going to incorporate the State into the narrative ….

        • Ermo
          Please think about what I have written. I know it is a bit different to all the crap that is around. Think back to a village where if someone wanted more, even to ‘invest’ someone else had to ‘save’ – postpone consumption. The underlying assumption of ‘no interest’ or even negative interest, is that the planet is infinite. Not only is it infinite but its resources are infinitely READILY available at no cost to the planet itself. We are really no less a ‘village’ than the original village we might visualise.

          • You mean barter theory and its rational assumption buddy loanable funds flawse … um no happy camper … nothing actually supports that faerie tale. Now if you want to talk about the fast fashion industries and epic amounts of waste, Capitals currant investment attitudes, need for Corporate board and C-Suite duties being restructured, 34T sitting in tax havens, complete lack of or utilization of social needs such as lead in civic pipes increasing water sales, and an over all Gresham’s law pandemic infesting Capital you might get some traction – Mythology [tm] about the “Proverbial Village” aside ….. Try looking out the window and checking the calendar for once.

    • they start to realise people hit their borrowing capacity and thta impacts the broader economy. What these idiots don’t realise is that without macro-prudential policy that prevents rise in house prices any wage hikes or QE will flow into higher house prices as the herd only knows how to bid on houses. And with that broader economy will not see much benefit from any wage hikes or QE.
      Expect to see massive QE next year with AUD and rest of fiats finally falling against gold by over 50%. It will buy current Gov time or even allow them to win another election. House prices to the moon – unless there is external shock that will put stop to the madness.
      Also, watch out for China investing more and more into services and other industries away from heavy industry and RE. That will have very large impact on IO and Coal prices and our main exports.

      • Nikola
        As long as we run a policy of an overvalued A$ we are going to misallocate resources and over-consume. Re Macroprudential, while I am not totally opposed to it, as a solution to our problems it may well be worse than useless. Housing and RE may be the least of a whole lot of ‘evils’. As Dominic pointed out last week, and as I did over and over years ago, we have bubbles in everything. (One has to be careful here – this brings out vicious attacks from our MB hosts) We have bubbles in everything that is non-productive I thought I had kept Dom’s list) but …Grog shops, Fat, Soft Drink, Tattoo Parlours, Ice, Cocaine, Electronic Devices that destroy brain cells faster than even alcohol and drugs, everything Hardly Normal sells, Retail shopping malls, Flash imported cars and monster 4WD’s, large houses, any houses, entertainment and payments to anything that entertains including sports professionals, lawyer fees, doctor fees, cruising (ffs!), etc etc etc.
        Macroprudential on housing, without underlying productive reform, especially a properly valued A$, just means you divert investment from housing to blow even bigger bubbles in stuff like Tattoo parlours, grog shops, cars et al. That makes blowing a RE bubble look pretty damned good! So, in fact, Macroprudential makes the problem worse.
        If we are going to have Macroprudential it MUST come with higher IR’s and a lower A$…but then you wouldn’t need it!!!

      • ” House prices to the moon – unless there is external shock that will put stop to the madness.”
        House prices to the moon – that’s been my thesis for a while. Looking at it simply rationally and quantitatively, that is definitely the outcome given our economic settings. MB, and all who sail in her who argued that falling house prices, in nominal fiat terms, was a one-way bet,are LIKELY to be WRONG again (STILL). We could stop reading MB and just follow Reusa’s occasional astute observations.
        unless there is external shock that will put stop to the madness – I have been watching and waiting for that for 60 years!!! Even now it looks unlikely in any near term. Western CB’s are all on board with QE and negtative RAT IR policies. CB’s are co-ordinated. Australia, with its apparent stability. looks a good destination for funds. So the external shock seems to me to be unlikely to arrive any time soon.
        So, with IR’s heading towards severely RAT negative, house prices to the moon as you describe and as a few in here have been trying to tell MB for many years.
        Mind you, I wouldn’t want to own a lot of apartments in the near future especially those with flammable cladding. However, even inn that I might be way wrong. Reusa might tell me it would shortly be a good time to pick up a few.

        • @All Above …

          Still confused about the IS-LM [????] and still some think Keynes had anything to do with the neoliberal monetarist or quasi monetarist views …. chortle …

          • Please tell me where I mentioned Keynes?
            Again you think it is enough to just shout ‘neoliberal and that means you win. I won’t say the ‘debate’ because you never enter debate you just dribble rubbish.

            You didn’t even read it did you!!!!! Thinking you might comprehend anything that is written by anybody, including your own cut and paste scribblings, is a stretch waaaaay too far.

            P.S. I forgot that, for you, there is no external account. It doesn’t exist because it is a bit inconvenient to your irrational extremist doctrines.

          • It said @all above flawse E.g. the nodding on the entire tread and not one specific individual. Otherwise I would remind that using inaccurate views towards monetary systems along the historical time line does befuddle some, magnified by cookie cutter everything is the same on the globe thingy ….

          • Just to inform you flawse MMT is not a ideological doctrine, that distinction exists for monetarist, quasi or otherwise, too included a cornucopia of other wonky economic metrics [mental millstones]. Per se your consumption quip is a ear worn conservative dog whistle, not that I’m a fan of the currant market investment allocations, but hay, you must have missed the Powell memo …. Not that the whole quasi monetarist QE thingy is just late stage neoliberal cannibalism, due to the elite investment mob not having any desire to invest in long term capital formation. So personally I find your anger misplaced as well as your understanding of what neoliberalism is and whence it came from, yes old wine in a new bottle thingy.

            So yeah … your hyperventilating about the external account based on a defunct notion of monetary operations is – as some have noted – shaking your fist at the sky.

          • Why don’t you actually think and do some maths instead of just shooting your mouth off???
            BTW I don’t think MMT is a doctrine. It’s a delusion adopted in order to try to enforce extremist doctrines. Again you don’t read or think. Strictly speaking MMT or, more particularly, what was adopted as MMTR (R=revised when some MMT protagonists realised that what was actually being propagated as MMT was BS) makes sense. It is the dishonest, distorted, delusionary, doctrinaire simplistic nonsense version as propagated by you, Barnacle, Mosler, et al that is the problem.

          • Look its very hard to debate let alone argue when the best you can attempt is a spittle barge in the guise of a non sequitur.

            Please point out the particulars which support your views and how you arrive at them.

            About those maths your banging on about, I don’t see it, not to mention you have to establish the underpinnings to said maths or the maths are meaningless. I would refer you to Lars Syll for a better broad introspection on that and other misadventures.

            For that matter MMT is not new but was largely ignored by dominate mainstream neoliberal economics, funding can have the propensity to create such anti intellectual agendas. Per se MMT administrated by monetarist [Chicago school aka Milton] or the quasi monetarist Liberal [social] new Keynesian’s, where as I’m talking about Post Keynesian administration of MMT and the policy advocacy that paradigm affords – ending NIARU and its ilk and a return of the Democratic State as the vehicle for uplift and social well being for the – long term – over the machinations of the – short term – free market agenda.

            Please flawse just look at the U.K. and see what decades of neoliberalism has done since Thatcher and how the U.S. is fairing, sure the E.U. is neoliberalism light with Ordoliberalism [latter day Hayek] but its not just markets or die, not that the U.K. had anything to do with advancing it via its membership or anything …..

        • House price controls?
          The thought only occurred to me this minute, but with the wisdom of 60 seconds thought, can’t see why it wouldn’t work.
          Buy house for $X, spend $Y on house (keep the receipts). Sell house later for ($X + $Y) * CPI * years owned.
          Too many buyers? Just do a lucky dip of all offers.
          Wizard Wheeez. Watch those specufestors scramble. Houses are for shelter, not investment

          • I was thinking along those lines. Limit number of IPs to 2 per person. And 2nd property can only be acquired by retirees.

          • @Nik, they’re usually in sell down by the time they retire, no income to neg gear against, & need the capital for the Rhine trip before they get too rickety & only need the pension….. Oh.

          • Arthur
            Not necessary. Just adopt appropriate policies for a productive balanced economy. The housing investment delusion would die of its own accord.
            The problem with most of these solutions is the flaw that is human nature. Greed and corruption has wrecked many a good intent.

          • Human nature [tm] or dominate narrative supplied those that forwarded it as part of a broader social experiment.

    • I was horrified at that article yesterday about the lax lending standards that allowed thieves to borrow $100k with a stolen driver’s license. My concerns seemingly misplaced as driver’s license not required.

  6. That Aussie opioid crisis article is a pretty damming indictment of how our medical system fails to correctly look after patients with conditions which aren’t a quick, simple fix.

    • True to a point but not that many years ago the pain specialists were admonishing other doctors for their insufficiently aggressive treatment of pain which they dubbed “the fifth vital sign”. Many posters appeared around the hospitals with such messages. Though pain is not a vital sign (an objective thing like heart rate or blood pressure) but a subjective sensation (a symptom).
      After making a big noise about the average doctor’s insufficiently aggressive treatment of pain, the same people are now up in arms about opioids and their over-prescription.

      • I’ll accept that point. But I was more referring to people not getting the surgery or physical therapy they need to manage pain long term and instead just being given pills as a short term fix. I’m speaking as someone with complex health conditions that I know the system doesn’t deal with properly. I’m lucky I have supportive parents and I’m well educated and I can by and large make good quality decisions to ensure I get a reasonable outcome but the under utilisation of human capital and lived at less than capacity and the subsequent burden on society is just horrible

    • “Imagine having a toothache for weeks, months 1 year, 2 years, 3, 4, and it’s still aching now … the pain eats away at you, the drugs send you crazy,”

      Well it certainly is a love hate relationship! But without the drugs the constant 24/7 pain Ends any chance of a normal life & normal relationships, sending you crazy regardless!

    • @Poppy it’s incorrect because based on recently released 2016 data. This stuff is monitored continually and there is no opioid crisis. The US crisis has additional factors beyond the sheet addictiveness of these drugs. My information from an industry professional.

      • Yep, more political hyperventilating than the US reality thankfully (unless it hit’s near you) & maybe they nipped it in the bud here? But GP’s freak about being hauled in front of the board, they’re still getting pressured…..

        • Thanks, a desperately sad situation. The States is great isn’t it… Work done at the Wexner Medical School… Would that be that nice Mr Wexner I have been reading about in other news recently?

          • Lmmao … seems a blend of Science-Mart by Philip Mirowski and the 1974 Charles Koch Speech:

            “The important strategic consideration to keep in mind is that any program adopted should be highly leveraged so that we reach those whose influence on others produces a multiplier effect. That is why educational program are superior to political action, and support of talented free-market scholars is preferable to mass advertising.”

            Then some wonder how such a mangled perspective got traction in academia, then filtered down through media, and ultimately the unwashed perception of self, others, reality, E.g. everything is a commodity, everyone has to sell themselves or seek funding through promotion via elite networks and money comes first, due diligence on ethical forbearance be damned.

            To paraphrase the old saw … lord don’t make me virtuous yet … for I have things too do …

            P.S. billionaire philanthropy has not worked out as portrayed or so it would seem – from the on going messes.

  7. The Traveling Wilbur

    Just finished explaining the origins of Bob, Alice and customer journey mapping to a seven-month old in much-need of an overdue nap.

    There were many tears.

    Most of them were the infant’s.

    • I’ll have a go at deciphering that. You have made some money which good fate you attribute to an un-specified Trump effect. You expect to repeat your good fortune, just so long as you can continue to anticipate Trump’s behavior. How’s that?

  8. I know there are a few MBers in SE QLD, so I hope everyone is well clear of these fires,.and that you dont hang around today to reply to whoevers comment if there is a fire front bearing down on your abode in the Gold Coast hinterland. And if the local CFA gives the warning to stay and fight or to take off and get the bejesus out of the area, then everyone makes a focused decision. Love and kisses, Gunna

    • Going down to pick up son at his TTS rugby match [X2] at south port, around 3:00 avo, wonder if all the dust blowing in will hide any smoke or its all just one big mix.

    • a good reminder, Gunna, we’ve got a lot of fires up north too, but Cairns has been spared the smoke, for now. Stay inside is the only way to minimise harm, unless a fire’s coming your way. Thoughts to those affected too

    • GunnamattaMEMBER

      Skippy I can tell you I keep an inhaler of ventolin about for my son – who has inherited his dad’s hyper allergic/hayfever genes. Unless you can see the fire/smoke the odds on deciding one set of bad air is smoke and another is dust is going to be tough. Keep water handy for kids (I generally keep a couple of old plastic 2L bottles in the car at all times).

      Christopher J I find myself wondering – having read the other day that the AAD guys have picked up a blast of warm air in the Antarctic which bodes ominously for a dry summer in SE Australia – just how long this takes to sheet home to people that climate change is real. I would never have thought (on my historical experience of the place) that somewhere as tropical as Cairns is going to be much of bushfire risk. I know that inland it tends to dry off fairly quick – same as all along the QLD coast once you move away from the beach – but to be having bushfires of this level of seriousness at this time of the year that far North, and even in SE QLD to me means that once the winter rain spruced greenery dries off further south there is going to be the mother of all bushfire seasons – I reckon later this year and next feb March in Southern NSW and VIC/TAS could get ugly. Here in Geetroit it is raining fairly solidly as I type, an hour inland up past Ballarat it is pretty dry already.

      • The olds are unavoidably going os in Jan but they’re only keeping it relatively short, about 3 weeks because they insist I’m not left alone with an at bush fire risk property in the middle of what they expect to be a brutal fire season across the bay from you.

      • Yeah it was a mix that stayed relatively constant from Brisbane all the way down to the GC. Son is 15 and not susceptible to those sort of dramas, would be a bit silly doing a DPI apprenticeship in cattle husbandry up at Toowoomba for a big AG investment mob, might work up coming holidays in NT at their new shrimp farm. Other than that he plays up a grade in 16Bs and his 15As, on the day, funny how he can be so worn out, sleep in car, have a feed, and then get mom to drive him to the city to meet up with friends after her para shift.

        As far as the bush fires goes see Calif, something about all the old trees being used back in the day and replaced with Eucalyptus and non native pines, mixed in with low cost RE and PG&E cost cutting shenanigans – too sate the market gawds. Now insurance company’s won’t underwrite it – at any cost – which leaves expensive state or completely without. Which of course will be come a big political football between owners and the machinations of developers [Corruption top to bottom in Calif].

        Sometimes I ponder if it will all washout like South America back in the day E.g. Elites and Priests caught in a feed back loop until the unwashed step in to sort it out, then disperse once the land is unforgiving.

        • Yep Just ignore the actual science on the California fires. Paper published by a bloke who himself is a greenie demonstrating, in great detail with actual maths, that the climatic environment at the time was no different to most other years. The difference was the occupation by humans and slack a..e electrical companies.

          • Your use of prerogatives like “actual” or “real” anything, let alone science, does not confer gravitas flawse, and no, one study does not grant consensus either, but its incumbent for you supply the link to the study when referencing it to buttress your argument.

            In my case I’ll take the decades of studies done in aggregate, over time, with new information and environmental factors included and not just one thank you.

      • Mrs. B and I just got home from letter-boxing Lismore with flyers adverting the Global Climate Strike on 20th Sept.
        The dustsmoke is so thick visibility is down to 300-400 metres and we are 50km away from nearest fires.
        I share your aprehension of the approaching hot season. The BoM forcasters have an area from north of Rockhampton down th East coast all the way to Melbourne due for Hotter and Drier than average for the next 4 months minimum.Already 15 homes have gone up in flames in Qld and Northern NSW and we are in the first week of spring..
        If I lived in a naphalm clad high rise i would be sh!tting myself.

  9. @Gunna …or anyone else that’s interested in Russian literature
    I spent this week reading Mikhail Bulgakov’s book “The Master and Margarita”
    I started reading the English translation by Larissa Volokhonsky and Richard Pevear but hated the translation (the story is there but all the beauty of the language is lost) I switched over to a German Translation by Ralf Schröder but again it lacks the depth and imagery that kinda peeks through despite the translation. My Russian is definitely not up to the task of reading the original….do you have a favorite English translation?

    • This is the one I have on my bookshelf at home


      It is a book which requires a seriously good translation, mainly becaase when it was written it was written to get past Soviet censors meaning any given sentence – and we are talking about a book which is deliberately surreal – can mean a few different things, and most of them were written with a view to getting under the skin of the Soviet state, while being able to deny that that was the intent. I reckon you also need (more than anything) a general awareness of the way the Soviet state of that era behaved, and the way everyday intelligent Russians responded to that.

      • Thanks a lot, I’ll see if I can get hold of that translation
        it was written to get past Soviet censors meaning any given sentence – and we are talking about a book which is deliberately surreal – can mean a few different things, and most of them were written with a view to getting under the skin of the Soviet state
        Yeah exactly that’s why I changed over to the East German translation, because it was also very common for East German authors to use their language top get around DDR censorship but again the translation is too mechanical, so it ruins the beauty of the storytelling. I was going to try reading a French translation, but I’ll see if I can get your version first.

    • I could never get into it. I suppose it requires more historical understanding to get the context of it. But on a surface reading, it was rather dry and one note – like Catch 22.

      • GunnamattaMEMBER

        You mean Joseph Heller’s Catch 22?

        Dry and one note……oh yeah. Huh?

        Did you look at the words or were you looking through an electron microscope at the composition of the paper?

        You could read Catch 22 from Alpha Centauri B through a Vaseline smeared lens dipped in dust after half a packet of serepax and it would still have life and wit.

        ‘They hurled lights in his eyes to see if he could see, rammed needles into nerves to hear if he could feel.’

        Maybe they should have jabbed some more

        “He was going to live forever, or die in the attempt.”

        “Just because you’re paranoid doesn’t mean they aren’t after you.”

        “There was only one catch and that was Catch-22, which specified that a concern for one’s safety in the face of dangers that were real and immediate was the process of a rational mind. Orr was crazy and could be grounded. All he had to do was ask; and as soon as he did, he would no longer be crazy and would have to fly more missions. Orr would be crazy to fly more missions and sane if he didn’t, but if he was sane he had to fly them. If he flew them he was crazy and didn’t have to; but if he didn’t want to he was sane and had to. Yossarian was moved very deeply by the absolute simplicity of this clause of Catch-22 and let out a respectful whistle.

        “That’s some catch, that Catch-22,” he observed.

        “It’s the best there is,” Doc Daneeka agreed.”

        “The enemy is anybody who’s going to get you killed, no matter which side he is on.”

        “It was miraculous. It was almost no trick at all, he saw, to turn vice into virtue and slander into truth, impotence into abstinence, arrogance into humility, plunder into philanthropy, thievery into honor, blasphemy into wisdom, brutality into patriotism, and sadism into justice. Anybody could do it; it required no brains at all. It merely required no character.”

        “What a lousy earth! He wondered how many people were destitute that same night even in his own prosperous country, how many homes were shanties, how many husbands were drunk and wives socked, and how many children were bullied, abused, or abandoned. How many families hungered for food they could not afford to buy? How many hearts were broken? How many suicides would take place that same night, how many people would go insane? How many cockroaches and landlords would triumph? How many winners were losers, successes failures, and rich men poor men? How many wise guys were stupid? How many happy endings were unhappy endings? How many honest men were liars, brave men cowards, loyal men traitors, how many sainted men were corrupt, how many people in positions of trust had sold their souls to bodyguards, how many had never had souls? How many straight-and-narrow paths were crooked paths? How many best families were worst families and how many good people were bad people? When you added them all up and then subtracted, you might be left with only the children, and perhaps with Albert Einstein and an old violinist or sculptor somewhere.”

        “The country was in peril; he was jeopardizing his traditional rights of freedom and independence by daring to exercise them.”

        dry and one note…..

        • “The chaplain had mastered, in a moment of divine intuition, the handy technique of protective rationalization, and he was exhilarated by his discovery. It was miraculous. It was almost no trick at all, he saw, to turn vice into virtue and slander into truth, impotence into abstinence, arrogance into humility, plunder into philanthropy, thievery into honor, blasphemy into wisdom, brutality into patriotism, and sadism into justice. Anybody could do it; it required no brains at all. It merely required no character.”

          Dry and one note indeed.

        • It just seems like the same joke repeated in slightly different guises. Futility is frustrating, we get it! I couldn’t never get into big novels that can’t develop beyond a core idea. Would work better as a shorter book – the way Animal Farm is concise rather then being an encyclopedic chronicle of Noah’s Ark.

        • I like a bit of breathing space – it just seems to convoluted with a layer upon layer of knowing cleverness. Maybe I should have read a Reader’s Digest version ☺

        • GunnamattaMEMBER

          “You have deep-seated survival anxieties. And you don’t like bigots, bullies, snobs, or hypocrites. Subconsciously there are many people you hate.”

          “Consciously, sir, consciously,” Yossarian corrected in an effort to help. “I hate them consciously.”

          “The Texan turned out to be good-natured, generous and likable. In three days no one could stand him.”

          “You’re antagonistic to the idea of being robbed, exploited, degraded, humiliated, or deceived. Misery depresses you. Ignorance depresses you. Persecution depresses you. Violence depresses you. Corruption depresses you. You know, it wouldn’t surprise me if you’re a manic-depressive!”

          “Yes, sir. Perhaps I am.”

          “Don’t try to deny it.”

          “I’m not denying it, sir,” said Yossarian, pleased with the miraculous rapport that finally existed between them. “I agree with all you’ve said.”

          “Some men are born mediocre, some men achieve mediocrity, and some men have mediocrity thrust upon them. With Major Major it had been all three. Even among men lacking all distinction he inevitably stood out as a man lacking more distinction than all the rest, and people who met him were always impressed by how unimpressive he was.”

          “Do you know how long a year takes when it’s going away?’ Dunbar repeated to Clevinger. ‘This long.’ He snapped his fingers. ‘A second ago you were stepping into college with your lungs full of fresh air. Today you’re an old man.’

          ‘Old?’ asked Clevinger with surprise. ‘What are you talking about?’


          ‘I’m not old.’

          ‘You’re inches away from death every time you go on a mission. How much older can you be at your age? A half minute before that you were stepping into high school, and an unhooked brassiere was as close as you ever hoped to get to Paradise. Only a fifth of a second before that you were a small kid with a ten-week summer vacation that lasted a hundred thousand years and still ended too soon. Zip! They go rocketing by so fast. How the hell else are you ever going to slow down?’ Dunbar was almost angry when he finished.

          ‘Well, maybe it is true,’ Clevinger conceded unwillingly in a subdued tone. ‘Maybe a long life does have to be filled with many unpleasant conditions if it’s to seem long. But in that event, who wants one?’

          ‘I do,’ Dunbar told him.

          ‘Why?’ Clevinger asked.

          ‘What else is there?”

          “When I look up, I see people cashing in. I don’t see heaven or saints or angels. I see people cashing in on every decent impulse and every human tragedy.”

          “There’s nothing mysterious about it, He’s not working at all. He’s playing. Or else He’s forgotten all about us. That’s the kind of God you people talk about, a country bumpkin, a clumsy, bungling, brainless, conceited, uncouth hayseed. Good God, how much reverence can you have for a Supreme Being who finds it necessary to include such phenomena as phlegm and tooth decay in His divine system of Creation? What in the world was running through that warped, evil, scatological mind of His when He robbed old people of the power to control their bowel movements? Why in the world did He ever create pain?”

          “You know, that might be the answer – to act boastfully about something we ought to be ashamed of. That’s a trick that never seems to fail.”

          “There was no telling what people might find out once they felt free to ask whatever questions they wanted to.”

          “Prostitution gives her an opportunity to meet people. It provides fresh air and wholesome exercise, and it keeps her out of trouble.”

          “Let’s take a drive into the middle of nowhere with a packet of Marlboro lights and talk about our lives.”

          My personal take is that I see almost every facet of news media, every last skerrick of the contempt visited on people by contemporary management, all political discourse and every political statement, as well as a large chunk of everyday existence through a prism first opened up to me at about 13 or 14 years of age by Joseph Heller in Catch 22.

          I actually re-read it every few years or so.

          I tend to agree he never wrote anything else its equal, and I would be inclined to accept that in some areas others have explored further out on the branches of human existence/misery/exploitation. But the basic themes of the individual human experience in the face of organisation – be it political, corporate, military, bureaucratic or the everyday ‘management’ experience all of us butter up to at some point or another – has never been so utterly nailed and more lucidly described, with such life and humour, while retaining such pathos and engagement with ordinary punting existence.

          If any of you bastards havent read it then you definitely should do so.

          • Fun fact …

            Took my open water SCUBA test at the shoot location for the air strip in the Catch 22 movie, pontoon was still there, surreal to say the least – freshman in HS at the time in AZ.

          • Agree there is interesting insight, but a novel needs to be more then an accumulation of ideas – there needs to be plot, development, engagement – it’s a lot to read through without an overall pay-off. The sum of the parts is lacking that a novel should have.

            I read a review on Goodreads where someone said, to paraphrase, “there’s a reason why absurdist plays are one act’.

    • First time read it when I was a late teenager. Since then I have read it every roughly ten years, together with some Hermann Hesse books. Books are the same, but I like to see how I’m changing.

      • Really, how interesting? which of Hesse’s books do you find similar?
        I can see some similarity with Das Glasperlenspiel which interestingly was written at about the same time (1930 to 1940) as “The Master and Margarita”. One disguises an anti-Fascist story to avoid censorship while the other disguises and anti-Communist story to achieve the same outcome.
        Maybe the take away is that censorship creates great literature.

        • ErmingtonPlumbingMEMBER

          I think it’s the day to day adversities of living under a Authoritarian Police state that gets the creative juices flowing rather than the Censorship by itself.

        • Yes, it is: The Glass Bead Game
          and I agree with you, not with EM. Problems might appear when one learns just to read between the lines, even if there is nothing there.

    • “The former treasury secretary Ken Henry dates it around the same time or a little later: “We had drifted into a state of complacency in the years before the global financial crisis. Remarkably, the GFC didn’t shock us out of it.” ”

      Strewth!!!! It was Ken Henry who advocated every short term idiot policy in favour of more immediate gratification and a further expansion of over-consumption that ensured that the complacency would not only continue but would grow exponentially – along with our debt!
      The arrogance and refusal to look at his own reality of Henry has ALWAYS astounded me. He’s got to be some sort of psychopath. I’d guess narcissist.

      • The Traveling Wilbur

        You haven’t had to guess about that for some time. Ever since the RC actually.

        Thanks for the mental prompt btw. Finally remembered who his performance during the RC reminded me of. Ferris Bueller. Without the charm. Total demonstration of empathetic and awareness-of-self-by-others dislocation. Or on drugs at the time. They are the only two options.

      • And he admitted taking advice from his Mum when coming up with the idea for the ridiculous stimulus because she was a bit worried.

  10. So, had to go for a drive and noticed that four last chance car yards had closed in the last fortnight in this neck of the SW Brisbane woods…..something that hasn’t happened since 2010…..Mr Morrison might want to think about loosening the purse strings soon. Going by the action in the local shopping centre the tax refunds have been spent already.

    I am with Rabobank and think this is the Fed’s trajectory


    Only thing to stop it is real stimulus from China or a $ 2 trillion infrastructure slush fund for Mr Trump’s mates and I don’t think the Democrats will let him have it, they smell blood and will save it for their mates. Funny time of year for the ECB to need so much US Dollar swaps


  11. The Traveling Wilbur

    I don’t know if anyone actually cares about this subject, but if they do care about smoking costs, then what matters is, what is the question, i.e. what ‘cost’ are we talking about?

    As far as pure economic cost is concerned, *everyone* knows smokers pay for themselves and have for yonks. But apparently, that’s not the issue these days / this century.

    Michael Moore, chief executive of the Public Health Association of Australia, said such arguments failed to give due account to the benefit to all of society of a healthier population.

    It was an ”extreme view” to suggest smoking had an economic benefit in killing people off before they generated higher care costs to the community.


    I.e. they pay for their own costs AND, on top of that, die sooner, costing the healthcare system less generally (than if they had lived longer and used more of it).

    Which then raises ‘social cost’. And for anyone who doesn’t already know about how government calculates that (as alluded to in the quote), then this (especially the comments, in fact mainly the comments with references) is all you need. It’s from 2015. And it’s even more laughable tax-wise now than then.


    The fact that Tanya P. was quoting this 32b figure at the time was just priceless. heh.

    PS It would appear there are some shut-ins on another island near here who think along similar lines to MBers.

  12. So just watching another episode of Barn Find Hunter (1 of my favorite Youtube channels).
    He donates the car to McPherson college in Kansas, which is a college for kids wanting to restore cars.

    It got me thinking, although we have Tafe here in Australia (and I attend my night classes on Monday nights in Ultimo) there doesn’t seem to be a similar kind of college here in Australia. Would be good, you can do different Tafe modules, but it always feels so rigid sticking to their curriculums.

    I would love to have more time to do Engine building, Vehicle Paint, Upholstery, Engine Tuning, Restoration techniques etc.. so far I’ve only really done bodywork / metal work etc..

    Is there anywhere in Australia offering a similar course / curriculum or doing something similar? Seems a lot of these kids end up employed at Museums or for private collectors.

    • Just watched ep46. That guys car collection is insane. The amount of sheds he has is mind boggling. How the fvck did he afford to build them all! Total car nut.

      • Some of these blokes ran very successful businesses over many years and collected these cars when they were worth pennies on the dollar. There is a show on Netflix now (rust valley restorers) about a guy in Canada who ran a construction business for years and just dumped all these old cars in a field. Now he’s retired he’s going through them and restoring them for sale. They are kind of cowboyish and do a few things half arsed which annoys me, typical reality TV show drama.

        There was a time where you could pick up Datsun 240z’s for $1000 each (rusty as) but complete. Long gone are those days and many cars like it. Now I find some cool 90s JDM stuff quite cheap. I’m tempted to buy it, but nowhere to put it all and no time to work on them all either.

          • Ha, I’d never have thought it, But then again I didn’t think VL Commmdore’s would be worth much either. Turns out some of the rare ones are worth quite a bit now. Still don’t get it, but there you have it.

    • Gavin, some of the technical schools in Victoria used to do automotive, but it may be totally gone now. The school my wife teaches now only teach some woodwork and computing. The automotive, metal work and more it gone. The push for STEM has pushes those subjects out is my understanding.

      • Yes they are trying to kill it in NSW also. Very sad. Some amazing skills will be lost. 1 of my old teachers helped build the Madmax cars and sets for the last film.

  13. I could never get into it. I suppose it requires more historical understanding to get the context of it. But on a surface reading, it was rather dry and one note – like Catch 22.

  14. Up above there’s a bit of chat about Russian writers. This week I discovered that one of my favorite Australian writers has passed away. Andrew McGahan died on 1/2/2019 from pancreatic cancer. He was 52 years old. ‘Praise’, ‘1988’, ‘Last Drinks’ and ‘The White Earth’ are all worth a look. ‘Last Drinks’ is fantastic if you like booze, crime and are familiar with Brisbane.

    • ErmingtonPlumbingMEMBER

      Are those books up there with Robert G Barretts, Les Norton series?
      That series is the pinnacle of Australian literature in my, Sydney plumbers, point of view.

      • A bit more hoity-toity. Though still very approachable. He didn’t have airs about himself. For you, I’d recommend ‘Underground’. It’s a work born of frustration with the War on Terror and the Hon. John Winston Howard.

    • I’ve only recently gotten into Australia writing via Text Publishing, but will add him to the list to read. I enjoyed ‘Death in Brunswick’ by Boyd Oxlade.

      • Text are great. They are young and passionate. Even if you buy a book that doesn’t float your boat from those guys you are still preserving Australia’s literary past and supporting its future.

  15. Chinese debt and macroeconomic reforms with Michael Pettis

    “If Chinese household debt continues to grow at this rate, within two to three years, China will have as much household debt as the US did before the crisis.” Michael Pettis, Professor of Finance, Guanghua School of Management at Peking University, answers the explores the implications for global balance of payments and capital flows in light of Chinese debt and macroeconomic reforms

    • Thanks for the China one. I’ve not seen that argument – about traded services and the infiltration and profitability of American firms in China being in addition to traded goods. I think he is right about it being a factor that Winnie does not have electoral cycles to worry about whereas as Trumpy does.

      And another factor is how much pain are the respective leaders willing to inflict on their peoples. When Kissinger or Nixon (??) asked Mao if he was worried about nuclear war Mao replied that even if 300 million Chinese died that would not be a deterrence for him pushing on with his agenda. (though in fairness Mao was both unreasonable and irrational, whereas Xi is most probably unreasonable but rational).

      • I know Trumps predecessors have been said to be too gutless to have had a go, but now the lid’s been ripped off I was under the understanding it’s bipartisan? So even if Trump goes the path is set…..?

      • I thought that quote was Mao speaking to Kruschev back when China and the USSR were not getting on that well back in the late ’50’s. After stating that China could incurr 300 million casualties he asked K ” could Russia ?”

    • SnappedUpSavvyMEMBER

      Talking own book, like everyone else

      200 billion is not a big stick it’s a …. err Chinese size one

      • The last proper anarchists I met were from Italy. No jobs for the kids and the older generations were holding onto the land and unwilling to let go. Dysfunction + Asset Hoarding = Instability. It’s same, same but different to everywhere else in the world right now. Until those that have done will are willing to lose a bit, not everything, just some, in order to get things going again and create opportunities for the next lot there will just be continual increases in animosity and strife..

  16. ErmingtonPlumbingMEMBER

    It seems Joe Hockeys advice to aspirational home owners also applies to blokes wanting to get married.

    Just earn more money!

    “One explanation for declines in #marriage is a shortage of economically-attractive men for unmarried women to marry – a new study published in the Journal of Marriage and Family reveals a significant scarcity of such potential male spouses.”


    • There was a discussion a year or two ago about how the world was reverting to the 1930s in many ways, including younger women seeking to raise a family with older and more financially secure men.

    • Mining BoganMEMBER

      Maybe it’s more that blokes are fibbing about how much they earn because of the abundance of gold diggers out there.

      For a while after I started on stupid mining money nobody knew. A lot thought I’d turned into an unemployed bludger because I was often wandering the streets aimlessly during the week. Then one of my mates dropped the truth bomb down the boozer one night. Boy, didn’t the attitude of the local desperados change…

      • Unfortunately ego generally rules, MB. If you have the assets and the readies, shut up and keep flying under the radar.

    • Even if a man is financially well-off, if they are perceived to earn less then the female, then the female is not interested. The women that are worried about such things tend to be highly educated (greater education completion rates then men), and tend to earn more then men (this is more true for the younger generations where women in their 20s and 30s are outpacing the men in study and professional incomes).

      The ‘girls can do anything attitude’ has served well to help females earn more money for themselves (whilst men aren’t having as much luck in kicking the professional goals and achieving higher salaries), but females are finding they are also deserving of a higher-paid partner (‘Daddy’s Little Princess Syndrome), so they find themselves not interested in the men they have theoretically beaten by smashing the glass ceiling.

      • Watching some show a few days ago & some shiela was gleefully bragging that they’d reached over 50% female saturation in whatever it was (teaching?) & it seemed to me that she won’t be happy till it’s 100%. Then she’ll have to find another “enemy” to drive out…… turn on each other?

      • SnappedUpSavvyMEMBER

        I’m 45 now, and quite a lot of females at the school reunion we’re still single, some very attractive, some not, but all 100% bitches
        Probably adds nothing to the conversation but I thought I’d share 🤪

        • Reminds me of the start of Idiocracy, all the smart people stopped breeding. Waiting for the right time to have kids. Where as the trailer trash multiplied, The result was a dumbed down society. I know quite a few of these “career” women. Some quite miserable – despite their education and standing in their jobs.

    • So, Ermo, when you referred to a study highlighting some negative impacts of neoliberalism – job insecurity and wage suppression – on marriage and family, were you expecting anything more from MB than the contempt for women shown in the twitter thread ?

  17. GunnamattaMEMBER

    Hey Guys, I have an issue. My computer carked it during the week and I have another. I have lost an app which I used to use, which I think was created by an MB user by the name of David which used to provide the ‘latest comments’. Does anyone know where I can get that again?

    • But they didn’t have it as easy. Batteries were more expensive and didn’t last as long. A VCR cost $1,000 back in the mid 80s. And $6 for an overnight film at the local video store. None of this pirate bay. The kids don’t know how lucky they are.

      • And there was the embarrassment of hiring out Beta videos when everyone else was moving to VCR! Tough times!

      • The Traveling Wilbur

        Yeah. Imagine today’s poor snot nose little chunts having to carry laser discs home. Oh the humanity.

        Jesus fckn wept.

  18. Is any one able to confirm if having a baby whilst on a temporary visa in Australia helps with getting permanent residency? Rather then call them ‘anchor babies’ I think I’ll call them Biloela Babies.

    • If the babies are born here then they are Australian so it makes for a string case to allow the parents to stay.
      It’s one of the argument of that Sri Lankan couple are using to justify staying here.

    • Reckon those Sri Lankans have been far more beneficial to their community than any parasitic boomer could ever hope to be. Mind you, they’d never think of being part of a community, they just suck the life out of it.

  19. Does anyone watches the FIBA WC?

    Aussies were kicking some arse and yet I only saw one game on freeview?
    With so little awareness and support it is a miracle Aus has such a good team.

    I had to vpn into my mate’s IPTV account overseas to ne able to watch the games.

      • Was not aware of KAYO.
        Euro IPTV… 40 bucks gets you everything Netflix, Stan, Bob, Mike and Foxtel have and about 2x more.
        No VOD but one can watch any broadcast 7 days in arrears.

        Australia leads in Group L and has second best points score – average 89.5 points per game which is excellent. Better than Yanks (atm).
        It is a shame that almost 0 free channels broadcast not even games that Australia plays.

    • Watching people make a hash of categorical imperatives whilst attempting to make reality [square hole] fit into their beliefs [tm] [round peg] will do that too ya …. don’t even start on time and space with a side of the observer problem.

    • @ Reus

      Holmes would be boring nerd and tard without Moriarty, Superman without Gene Hackman, Achiles without heel…
      And other way round

  20. reusachtigeMEMBER

    Who else has come to the realisation that the communist conspiracy created this weak blog to divert us from the real issues like profit maximization?

    • The red logo a dead give away. Then there is the support for higher wages, lower house prices, higher welfare, etc. Astroturfing Communist hippies like Jacob and Smithy. Russian Gunnamatta’s fist avatar. All very unattractive people.

      Edit: I suppose Gunna’s avatar could have a fisting connotation which would make him more attractive.

    • That’s why the IPA has Skippy posting here to confuse and befuddle all the weak minds of the leftist ponces.

      • ErmingtonPlumbingMEMBER

        Wow I just thought Skip had suffered some kind of stroke and was communicating as best he can.
        Now you’ve got me thinking he is part of some kind of brilliant conspiracy.

        What to believe!?

        • Wasted to much time on long form attempts in communicating with ideologues and doctrinaires, use short hand and a link when applicable. I mean being called a pseudo intellectual in one breath and drunk in the other, by those, that can only find refuge in pejorative proclamations – after being confronted with information contra to what their selling.

          Sorta like the years pointing out the sordid underpinnings to memes like “shareholder value” only to have Ken’s Greenspanesque mea cupa about it, we got somethings wrong …. derrrr … like the human baseline in the free market dogma matrix. So I’ll stick to my track record and ignore all the mumbling about proforma as it grates some minds.

    • The Traveling Wilbur

      I’ve been developing a theory for some time now that some ex-school rugby captain who is now a somewhat sucessful RE agent has been paying the ‘two guys in the basement’ to keep this site going simply to punish the kind of people who ridiculed her in high school (financially).

      Kind of glad you raised the topic for discussion.

      • LOL @Russo ….

        Still remember her old commercials, where newly minted graduates interviewed reminded me of the first gulf war POW’s propaganda clips – from a body language perspective.

        Waiting to see facial twitches sending a SOS.

        Not that an old mates girlfriend back in the day was her personal assistant or anything, think she worshiped Rand, and her success was manifest destiny along with some other int4eresting tidbits. Strangely or not old mate had to lose the girlfriend due to some acute personality disorder dramas, being hot will get you only so far I guess, did I day moths to a flame …..

        • Slightly less awkward then the Stefan ‘interviews’ with his customers, like Doreen or Mavis.

          If you worked for Sarina, she would give you her biography to read. My favorite part was when she bumped into President Clinton at the tennis – “Mr President, Mr President! Australia loves you!” Cringe city.

          She also wasn’t allowed to interview per herself as she was prone to asking childless women why they haven’t had children.

          • Are you aware Stefan was a bit of an Epstein, with a bigger coke habit, best parties I hear, back in the day.

    • ErmingtonPlumbingMEMBER

      I can instinctively tell when one of my 2 Children is starting to tease the other.
      I try and head it of as quick as possible as I can’t stand the yelling, tears and incessant bickering that always follows.

      So I’m just Gunna say this once Harry.

      Stop taking the fken P!ss out of your younger Brother Gav!
      Fken got it ya little cnut!

  21. Re. Germany’s proposed ban on glyphosate: German-speaking Europe has had a pseudoscience problem for a long, long time. Unless you speak some German or come from that cultural background, you’re probably unaware of its full extent. They have an undeserved reputation in the Anglosphere for being coolly rational. Homeopathy is home-grown German quackery and has mainstream acceptance. Germany has a plethora of clinics offering crackpot “cures” for everything from cancer to [non-existent] “chronic Lyme syndrome” — which bear comparison with Mexico’s infamous cancer clinics. Germany is also the home of erdstrahlen and biodynamic farming woo. So I’m hardly surprised that Germany’s considering a ban one of the safest herbicides on the market, a decision which owes more to conspiracy theories and relentless campaigning than actual science. The fact is, even in a worst case scenario, glyphosate does not affect brood survival, larval development, mean pupal weight or adult mortality in bees. But what’s really absurd is, the herbicide atrazine has a much sketchier safety record. But it has neither the media nor memetic profile of glyphosate, so farmers and gardeners will probably go on using it.

    • Atrazine was banned in Oz a decade or two ago. It was a damned useful chemical and there is still nothing worthwhile to replace it.
      People confuse the properties of glycol with misuse or overuse. Talk about throwing the baby out with the bathwater.

      • desmodromicMEMBER

        Flawse, atrazine was banned for good reason. The damage to wetlands and aquatic systems in the Riverina was measurable and significant. Although, against a background of over-allocation of water licences (115% of median flows in the Lachlan R, 85% in the Murrumbidgee R) the impacts of herbicides are minor. You don’t need Science to tell you that at that level of water extraction the rivers are dying–with or without atrazine.

        • Was chatting with a parent of one of the kids my son plays soccer with this morning – agriculture man spending most of his time in the Riverina. We were yacking about the weather (it was raining in Geelong and has done regularly all winter) and he mentioned that the Darling Murrumbidgee Edwards and Lachlan are all looking seriously low, and that only the Hume weir is making the Murray look OK. His line was that the further north you go the drier it has been (which we know) and that apparently a facebook page has alerted to a fish dying event in the darling in the middle of winter. It is likely to be an ugly summer unless a cyclone breaks up over the interior at some point.

      • Strange then how the results of Bio management are increasing yields without all the FF based agrichem, for that matter advances in gut microbiome and its broader social physical and mental health outcomes, and best for last the complications of industrial monoculture food production with monopoly bottlenecks for rent extraction in perpetuity.

        • I am mid fifties and when I was growing up I cannot remember a single child at any school I went to, and I moved around a bit, that had an allergy to any sort of food. Just did not exist. But, in each of my childrens classes there was at least one in the class and others in the year that had allergies that induced anaphylactic shocks. Has to be in the food chain somewhere, and most likely in the chemicals that are used in agriculture. If there is any doubt about a chemical it should be banned.

        • LaDrudge
          Thanks I didn’t realise that. I just found after leaving the farm Atrazine became unavailable. (I wouldn’t go spraying it around sorghum !!! )

    • There has been research from the 1970’s suggesting problems with glyphosate. Nothing new. Monsanto has been bought and sold several times without anyone actually making a lot of profit from it. Bayer have been suckered.

      Perhaps its like how old Italian tobacco growers used to tell me, tobacco did not cause the health problems it was the chemical sprays on the tobacco 🙂 An early morning grappa with them was a tough start to the work day.

    • Interesting thing about biodynamic farming is that it words, but you don’t like it, because it doesn’t saddle farmers with debt to corporations.

      If what you call quackery was not effective, then the scientific materialists wouldn’t have to actively try and stifle it since the time of the Royal Society, which was the true purpose of its foundation, the same way the church tried to stifle true religious practice lest it would lose control of the flock.

      The so-called ‘enlightenment’ was anything but.

      • “scientific materialists” is [????] dogma for C-corp funded results – n’est-ce pas … I think your umbrage is better served with the corporatist green movement which then surprisingly or not ended up being corporatist welfare queens.

        Not much Science really going on, unless one thinks branding an ideology economic science grants it some vestige of Scientific gravitas.

      • I think you might have your biodynamics mixed up with your permaculture. I don’t think anyone has proved that micro-dosing their paddocks with dung that’s been buried in cow horns does much of anything at all.

  22. NEW ZEALAND: Why is the Labour – led government still failing to deal honestly and effectively with the real issues … land supply and infrastructure financing ? …

    Treasury advises new Housing Minister that government building programmes (ie: KiwiBuild) will be ‘expensive, inflationary, and slow to deliver’ without supply reforms; Says need can’t be met in current environment … Jenee Tibshraeny … Interest Co NZ


    Treasury is advising Housing Minister Megan Woods not to make KiwiBuild a priority.

    A document included in a wad released by the Government on Thursday and Friday, after it announced its “housing reset”, shows Treasury recommended she limit the goals of the new Crown entity responsible for housing, Kāinga Ora, to “enabling housing supply” and “managing and delivering additional public housing”. … read more via hyperlink above …

    The Listener Editorial February … from Nationals housing crisis to Labours housing disaster ( following stinging The Guardian and The New York Times articles soon after the release of the 2019 15th Annual Demographia International Housing Affordability Survey 21 January 2019 ) …

    New Zealand housing: From crisis to disaster … Performance Urban Planning

    New Zealand’s Labour – led government knows exactly what the problems and solutions are …

    New Zealaned (then Housing) Urban Development Minister Phil Twyfords speech to the New Zealand Initiative Members Retreat … New Zealand Government / Beehive


    … extract …

    … In our view there are three big challenges that have to be addressed:

    1. A broken system for financing infrastructure

    2. A planning system based on urban containment

    3. The failure of governments until now, both local and central, to actively work with the private sector to enable urban growth and expansion. … read more via hyperlink above …

    • ErmingtonPlumbingMEMBER

      That Trevor Noah Cnut is a straight up Fken Nazi isn’t he.
      Literally calling for white South Africans to be burnt in the Street!

    • I would have followed on. I think it’s the only way Australia can win.

      Not that we have the choice.

          • I see what you’re saying about starc, but he’s just nipped out a couple that we needed to remove.

            And the GOAT has been turning it 6 inches.

            josh and patty look sweet

            so that looks like a pretty good attack to me

            plus smudge and marnus for leggies

          • 1. Since when, and why. has Steve Smith been called smudge? I first saw it used only a couple of days ago.

            2. What about Joe Burns replacing Warner? It seems the selectors fell over themselves bringing suspended players back into the fold, but if an incumbant gets crook he gets sent to the back of the queue.

            3. Had the cricket unmuted for a change – I like the analysis most of the pommy commentators provide – and heard Wade mouthing off to Archer. What a goose. And from this series Archer’s name will be widely remembered whilst Wade’s contributions might make it to a pub quiz.

  23. Warner is one of my favourite players. But, he has to go.

    You might as well give a kid the chance to get ducks against Broad than a mid-30s player.

  24. -sounds uncannily like downunder? though Strayans would never riot

    Shenzhen, a blueprint for Chinese cities, must abandon Hong Kong’s property model, warns China’s ‘godfather of real estate’
    Meng Xiaosu
    “Hong Kong’s economic inequality and disparity has not lessened but in fact has continued to grow in recent years, surpassing many countries and regions. The outlook for the youth in the city is bleak,” said Meng.
    “From our perspective, a core reason is that the [Hong Kong] government has neglected the need to provide suitable housing conditions for its citizens, making living conditions harsh in the city.”


  25. boomengineeringMEMBER

    Glad I didn’t get the deep wheels that those rich old guys put on their bikes. My HED Jet 6 Carbon Clinchers were throwing me around something chronic in the wind this morn.

    • BE I’ve got Roval 42mm on my Specialized Tarmac and they are not too bad is high cross wind. I’m working this weekend so no cycling and it’s been raining here, but I’d rather be out on my bike.

      • boomengineeringMEMBER

        No riding?. Does that mean I’ll have a chance to keep up when we eventually have our social ride?
        Btw soon as finished the coffee & breakie, back to work also.

      • boomengineeringMEMBER

        Lol, thanks Ermo for that, needed that happy pill after that really old Chinese woman expecting us to give up our cafe seat 10 mins ago.
        You’ve got a good memory of last week’s fat comment so omitted that this time but must be aware of the thought police lurking in MB.

  26. ErmingtonPlumbingMEMBER

    Is the Kouk taking a swing at Macrobusiness.com.au members here?

    Touch one Touch all Koukoulas!

    “I might be a bit mean with this, but I do hope those advocating a recession to allow for some “meaningful economic reform” to take place lose their jobs, their houses, their superannuation, their businesses & their dignity.”


    • Mining BoganMEMBER

      Eh? A great piece of the population is already losing those things and times are supposed to be booming. Supposed to be.

      What we have here is an ostrich hiding its head up its own arse.

    • Kouk should be more concerned about what an entire generation of young Australians that have been deprived of the opportunity to own a home and raise a family, wish upon Kouk and his generation. They will one day become the majority voters and it may turn into more than just a wish.

    • The kouk doesn’t consider all the aspects of losing – consider all those who lose under the current environment
      1. Young people who can never own a home
      2. Productive enterprises driven out of business- the owners and employees of which LOSE their jobs abd their homes
      3. Farmers who are driven off their lands because the whole housing/consumption economy is aimed at unfairly destroying them
      4. Savers are destroyed. Current policy is to destroy the prudent and reward the profligate.
      etc etc etc

      • As interest rates decline people will stop spending, especially older folk living off interest earned. It’s a double edged sword. The lower they go, the higher asset prices, but people will spend less. Game over..

        • Have been thinking the same thing for quite a while. I figure if someone like me whose formal economics education ended in highschool can see it, then why can’t the boffins in Treasury and millionaires at the RBA? A rates cut is an income cut to those on fixed income, and they’re not going to spend or invest in riskier asset classes.

          Was walking through Lygon St, one of Melbourne’s premier eating areas yesterday – now there are so many empty shops up for lease and even a few restaurants for sale.

          Know a few liberal supporting small businesses who have been complaining about a retail recession for months

          We know that the FIRE lifestyle has been getting more publicity which will put a brake on consumption, but I’ve also been made aware that minimalism (Eg. Marie Kondo) has become popular in certain mother’s groups – these families with school age kids may have already paid of their PPOR and have started to question the value of consuming for the sake of it.

        • It is a well known and understood phenomenon. When interest rates fall, people save more to compensate for the loss of interest.

          • Data to support that view please, seems contra to the credit trap noted in the 90s.

            If your folly you can look up an old PBS frontline [U.S.] episode by that name, people were offsetting wage stagnation via increased credit use. Only thing propping it till the GFC was RE asset inflation [See HELOC] with a side of equity bubbles for the lucky ones. That’s not even mentioning the 2% solution in lowering credit standards which would result in borrowers getting ultimately caught in the trap via fees and high interest rates – read about it.

    • ErmingtonPlumbingMEMBER

      Sydney’s lockout laws were a Conservative victory that they always regretted winning.
      Pissed of a broad spectrum from the left and right, young and old.
      Just a fken dumb policy that allowed for not allocating more money to policing but in the long run just made the Govie look dumb.

      • Mining BoganMEMBER

        Yep, but they never admit they’re wrong. Never. This decision has got the blood of a thousand clubs and restaurants on it. It’s too late though, the punters have no cash.

      • what was dumb about it?

        Late at night + alcohol = uncivilized behaviour, violence, rape etc
        I think that’s pretty clear we can agree on ?

        Impractical to ban alcohol as the prohibition showed
        So they had to choose the late at night part

        And it worked
        It just should have extended to the whole wider Sydney area

        I personally thought it was fantastic.
        Although I am usually in bed by 11, I went out and walked the lovely quiet streets with my own thoughts for company
        Up early in the morning to go for a run or go to the beach

        Now all we need to do is legalize marijuana, DMT, LSD, mushrooms etc so intelligent people can peacefully get fuked up in private and maybe become better human beings
        Instead of ethnics and bogans getting sloshed on piss outside my house

        Of course, Mr Hemmes and the poker barons greased the appropriate palms, so we’re back to the yobbos getting sloshed on piss and raping and punching and not much chance of “liberalizing” other drugs if no one can make a profit off it

      • Per haps a visit to the A&E might change the views on things.

        Change in non-domestic assaults after the lockout laws: Jan 2009 to March 2019

        Kings Cross Precinct ​Down 52.8%, 1021 fewer assaults
        ​Sydney CBD Entertainment Precinct Downn 4.0%, ​329 fewer assaults
        ​Proximal displacement area* ​Up 18.4% 479 more assaults
        ​Distal displacement area** ​Up 30% ​476 more assaults


          • Yes, from a democratic perspective civilians should always have the power to overthrow a tyrannical government. That is what the 2nd amendment is based on. i.e. US War of Independence.

          • Ok I can respect the consistency of your positions, if nothing else

            What we need to trial is no lockout laws + alcohol + guns

          • Freddy …

            You are aware of the misrepresentations of the 2nd amendment not having much to do with per se Govenment, but putting down slave revolts. Not to mention the condition of the state some are want to transport through history regardless of context E.g. in antiquity it had more to do with divine rule and not functional democracy.

            I mean the NRA was in the beginning a gun safety advocate until it became a gun manufacturer advocacy PR agency filling peoples heads with more gun equals more individual safety, pray tell, hows that working out.

            That’s without reminding everyone of the dominate view around here at the totalitarian force used to sweep 14 cities of the Occupy movement, so it seems quite selective in its application.

        • Getting drunk and going out for a bit of biffo is an Anglo problem not an alcohol problem.

          Maybe they should be the subject of the lockout laws and the other cultures that know what responsible consumption of alcohol looks like can still get a drink late at night ?

          • SnappedUpSavvyMEMBER

            Wow, you’re messed up, what did Whyte people do to you dear snowflake

            I’d rank the most aggressive drunks in Sydney in this order
            Lebo’s / middle eastern
            Chinese- yes you read that right, go down to George st and watch the hilarious fights after 2am
            Then probably anglos on a par with South Americans

          • I agree with Smithy except its not just the one ethnic group, seems more prominent in strong patriarchal societies, say in Argentina a young man used to be taken to the local brothel when coming to age. That way the could dependence with their youthful desires without getting themselves and family in trouble for fiddling with girls from the right sort of families.

            Not to mention everything I witnessed growing up in the U.S. during the 60s – 70s and Military service.

          • SnappedUpSavvyMEMBER

            Of course you would agree with smithy you hate us skippy and guess what, I’m ok with that, ya confused old hippy

          • As someone that actually fought Communists and have lived by applying ethical capitalism [See Smith] I have no idea where you got the Hippy rubbish save some massive plank in your minds eye.

            Special pleas are not a logical methodology for rebuttable IMO E.g. emotive drive bys ….

          • Wow, you’re messed up, what did Whyte people do to you dear snowflake


            For someone calling others snowflakes you’re spending a lot of time triggered.

          • SnappedUpSavvyMEMBER

            Saying drunken violence is solely an Anglo problem is not trolling …. 🤪

            Lol you just like to stir the shyt don’t you

          • Saying drunken violence is solely an Anglo problem is not trolling

            Well it probably would be if that was what I said.

            Binge drinking with a side of aggro is almost entirely English-speaking western world problem. We get it from the poms.

            That is not to say others do not drink, nor that they do not get violent when the drink. Plenty of other cultures drink a lot more than we do. But (regularly) going out to get fall-down drunk and hoping for a fight is very much a cultural “feature” we have from our English heritage.

            It is particularly bad in Australia and New Zealand. Neither the US nor Canada suffer it anywhere near as much (the former because violence tends to manifest as shooting people and the latter because, well, they’re Canadian).

            But I know how much yous like to get all #notallwh!tedudes when someone suggests our society may not be flawless, even when nobody except the little voice in your head is talking about #allwh!tedudes, so knock yourself out with some more outrage.

          • SnappedUpSavvyMEMBER

            This is what you posted
            Getting drunk and going out for a bit of biffo is an Anglo problem not an alcohol problem.

            Yeah…. oh well

            Not even skippy’s dinky little forearms can backpedal out of that one

          • Getting drunk and going out for a bit of biffo is an Anglo problem not an alcohol problem.

            Yes. Because many other cultures are able to approach the idea of a night out involving alcohol without paralytic drunkness being the objective and a fight on the side a bonus.

            This does not mean they never do bad things. It means they don’t do them anywhere near as frequently or systemically.

          • Savvy …

            Cracking a fat and then deploying special pleas because you feel threatened is not mine nor smithy’s issue. There is an abundance of social history which clearly points this case out. We can go all the way back to cheap sugar and with it abundant cheap rum or other alcohol. The results of which was the inception point for the suffragette movement, due to the increased social dysfunction that paralleled increased alcoholism.

            Best bit is the Bernays macho PR about such manly rights to increases their profits, when the results were on public display for all to see. But then you might be the type that has romantic notions about rum runners during the prohibition and all the wealth it created, now laundered and the underpinnings of many a blue blood family IMO.

          • SnappedUpSavvyMEMBER

            Oh dear, I underestimated the backpedaling, rum runners and some bs smithy nonsense I haven’t had a good laugh in a while thanks

          • If you consider that a rebuttal why even comment, you might consider the pure deductive process fought with environmental biases of which the individual does not even understand the underlining axioms.

            To dumb it down for you, does the incidence of sporting events and alcohol consumption spike violence towards females in certain anglophone countries – yes or no ….

  27. Anyone know about “The Epoch Times” newspaper. My street had it delivered today. I seems to be anti CCP? It’ll go into my recycling, but just interested to find out why they’d spend money to deliver a hard copy.

      • The Catholic Church and Socially Conservative views wrapped in Buddhist and Daoist symbology, not to mention the obligatory cult figurehead at the top …

    • Falun gong l think.
      Very anti communist.
      Also sponsor street hecklers, concerts( be careful of attending Chinese opera type things- for all sorts of reasons😊).,petitions against organ harvesting etc.

    • The move to ban cash will come just as monetary policy in the developed world devolves into printing cash in hitherto unheard of quantities and shelling out the proceeds to the 1-10%. That will enable the nailing of the once was proletariat and middle class into something like a parsimonious penury doled out through trackable cards under the guise of Universal Basic Income (or whatever), and unusable for anything not delivering a return to the 1%, while retaining the right of the 1-10% to secret cash away in their locales of choice (cashed stashes in flats in Shanghai or Sydney, art, yachts, etc), to be used to dip into the 90-99% at moments of leisure – prostitutes, sports stars, movie stars, branding opportunities disguised as gifts to orphanages and other charities etc.

      Its a win-win

      • I’m not sure the world will tolerate more QE. But maybe they don’t understand how they are being screwed?

      • GunnamattaMEMBER

        Gerard Minack makes some very good points in this interview from a few weeks ago. At circa the 30 minute mark he goes into a discussion of MMT and the failings of QE and Negative Interest rates. Worth a listen.


    • boomengineeringMEMBER

      Well being one of the early signatories to the petition against cashless I hope many at MB did the same.
      Not that I’m totally confident in achieving long term equitable solutions. They are very patient and wait for catastrophe to create opportunities.

    • Banning cash has more to do with black et al markets and leakages, same line of thought that instigated the GST where everyone not on wages had to self report taxes, not to mention counterfeiting.

  28. boomengineeringMEMBER

    Strata meeting this Fri trying to force me to remove my neatly placed containers from my carspaces by the smash repairer when his dead cars and parts commandeer every available space including grassed areas.

    • If they aren’t a safety hazard or restrict another residents ability to enjoy their space in peace, then there shouldn’t be an issue, unless the strata by-laws have a vague clause about ‘untidiness’.
      If they wish to proceed, make sure it is clear what specific by-law you are not adhering to.

      • boomengineeringMEMBER

        Many thanks for the input. Wholly within my spaces and enough room for 4 cars abreast to pass by. Rang the council and because I have no customers to see me there, they would pass a DA because cars spaces are for customer parking, but it still needs consent of the strata meeting which he has manipulated into voting against me. Unfortunately when the previous owner strata-ed the 6 units he didn’t strata the car spaces making it all common area but we agreed to allot 3 each near each respective unit. He has an absolute hatred for containers and my imagination runs wild to explain this. I may have a case for bullying due to his hypocritical attitude with his rubbish etc making the place an eyesore.

        • If they can’t reference a clause in the by-laws, I would say you are right, they are bullying you, which, of course, isn’t on.

  29. Complex Carbon Unit

    That way things are going soon you won’t even be able to drop a fart of your own property without paying 5 bucks for the privilege ! And where will the 5 bucks go and who will end up with it ?

      • Mining BoganMEMBER

        Got that right. I watched a bit and read a lot of Derek Randall stuff today. Watching Hadlee bowl to him was great too.

        I always cheered Randall on. I’ve been thinking a while that he may be more eccentric than Smith. One of those guys whose talent was so big selectors used him to fill holes up and down the order instead of letting him make one spot his own. Wonderful, wasted talent.

        • He also had the disadvantage of playing for Nottinghamshire which was not one of the fancied counties in the 70s.

        • “Wonderful, waste talent.”

          Robin Smith, Devon Malcolm, Hick, Thorpe. I don’t know how England did it but they managed to ruin so many rare gems.

          • Thorpe has a long a fruitful England career. Hick was found out at test level (I still can’t believe that he is Australia’s batting coach). Smith and Malcolm should have played more.

  30. ErmingtonPlumbingMEMBER

    Bloody ANTIFA!

    “ATLANTA, GA—Emerging from hiding places behind trees and buildings, a large gang of Antifa protesters clad in all black roughed up local children Jordan and Casey Hughes, 7 and 10, respectively, and burned their roadside lemonade stand to the ground, sources confirmed Saturday.

    “Filthy capitalists!” the mob reportedly yelled at the kids from behind black masks, scarves, sunglasses, and motorcycle helmets, adding that selling cups of lemonade to willing consumers for 10 cents each was directly causing the downfall of society and the enslavement of mankind.

    “Down with fascism! Down with fascism!” the group chanted at the horrified youngsters.

    At publishing time, one of the children had informed an Antifa thug that he was “going to get his dad,” causing the group to disperse rapidly.”


  31. boomengineeringMEMBER

    Thin edge of the wedge using dole bludging drug o get the public on side for cashless society. Many pronged attack.

    • Macrobusiness likes to go on about NSW Labor being corrupt but they are nothing in comparison compared to people floating around Morrison’s cabinet.

      Dodgy water grants, hundreds of millions given to Liberal party mates, etc.

      It stinks to high heaven.

  32. TailorTrashMEMBER

    Spent today at the Sydney 4×4 show
    This is seriously bogan culture and the force was strong …
    ….Number 1 Dress Uniform is still Tracky Daks ,(non discript cargo pants challenging ) ,Grunge T-shirt ,baseball cap and sneakers ….thongs are also quite acceptable ……

    Its reassuring that any attempt to suppress straya
    will have to deal with these latter day diggers ….I would not easily write them off .

      • No that’s Avi. I just watch some of his content. I agree with him on certain things. Definitely not all. Especially his views re: climate change.

    • That kid is typical of a lot of mainlanders that only parrot what they are told. Incapable of independant thought and are basically sheep. (even worse than aussie sheeple)

    • Can’t believe people still buy them. Feel sorry for people with kids who go to the show, must cost them a fortune. Showbags used to be free when I was a wee little’un. Used to love the Sunnyboy ones. I miss those frozen treats, and the dairy ones, snips!

  33. MIT Media Lab director resigns after criticism over financial ties to Jeffrey Epstein

    MIT’s president said an article in The New Yorker “contains deeply disturbing allegations about the engagement between individuals at the Media Lab and Jeffrey Epstein.”


    “Universities are sacred institutions. We can no longer let them be turned into drive-through reputational laundromats for rich scoundrels.” – Anand Giridharadas

    Hear Hear …

  34. The Traveling Wilbur

    So, yes, smokers are Beelzebub’s little firestarters, but at least they’re not as bad as VW drivers.

      • The Traveling Wilbur

        You can sleep comfortably then in the knowledge that the tax you pay on one of your emissions (hopefully) makes up for what you’re emitting from the other!

        When I become Emporer, all VW drivers will be ordered to take up smoking.

      • The Traveling Wilbur

        Indeed. It meant you could get a really nice quality 8×10 of the guy who stabbed you and ran off with your stuff. Usually to a tube station.

  35. https://forums.whirlpool.net.au/thread/9jw10jn3

    I managed to secure my first home at auction. Prior to bidding at auction, I made sure the only remaining ‘unknown’ would be the valuation by the bank valuer. I asked for written confirmation from my broker that the property I intended to bid on “was not under any general lending restrictions or policy restrictions, was suitable for my conditional approval and the only risk post-auction would be the bank valuer’s valuation of price and that was the only unknown”.

    My broker confirmed this in writing twice.

    I won at auction and paid 130k deposit. Valuation came back at contract price and I was on a high. 3 weeks before settlement, broker tells me the bank has a broad policy restriction on the property. They cap LVR on this particular property as part of their internal policy. I will need an extra $100k to complete the contract.

    He said he is very angry at the bank and cussed them out for an hour and said he would never work with them again. He makes a point of telling me he is legally fine but I’m pretty much screwed.

    I have spoken to alternative lenders including the big 4. Best case scenario, I indebt myself to the hilt (personal loans, relative loans etc) and I’m still 20k+ short.

    Poor bastard. And this just after a banking RC. Normally don’t have much empathy for RE transactions gone wrong, but this guy is getting bent over badly.

      • Dunno, could be any of the above I guess with banks having policy rules on them all. $130K is a big chunk of change to lose when it’s a house deposit and all you have. Be pretty devastating.

      • Post mentions checking strata reports. Also mentions bank conditions on that building. Not clear why but easy enough to suspect the usual favourites like flammable cladding.

    • Broker behind you?
      Broker claims they will never “work” with that lender again? Just don’t believe that at all.
      Bank may have done them a solid by capping the lvr on that leaky firetrap.

      • The Traveling Wilbur

        Oh tish-tosh. This is responsible lending in action.

        We should all write to Wayne. (thank you letters)