Links 15 November 2019

Global Macro / Markets / Investing:






Unconventional Economist


    • Something else to keep an eye on is the AOFM Securities Lending Facility….someone needed $130 million on 21st October, but the eligible repo there is pretty unexceptional. Still watching the Treasury Note market for future indicators.

    • That’s so so so so funny. Seriously darkly funny. They had to capitulate to Chinese lack of trust in Chinese dairy production, most of which would most likely be from regions with a much better soil nutritional profile than Australian dairy areas. But you can’t rebuild trust that easily once its been destroyed.

      Let that be a lesson for everyone

      • I thought Bellamy’s don’t actually produce anything, just buy product from Europe and on-sell it to China…a commentator here told me something like that.

        • Yeah that may be true (that triggers something in my memory too but I can’t be bothered researching it). But that’s beside the point. The average Chinese consumer won’t know that, will they? They will just believe it is Australian milk cos it is an Australian company. SO as far as I’m concerned my point stands. The Chinese consumer is like the rest of us, partially informed but also mis-informed in many respects. They are also desperate to believe that foreign products are clean and the cure-all for many of their problems, and they will pay a huge premium for it. They are a perfect customer in many respects (but not all – they can turn on a dime, their loyalty is not to be depended on).

        • JR, the wonders of advertising and perceptions. Yes, Bellamy have been importing much of their raw materials from Europe.

          Like A2 and organic products, perceptions (and higher costs) make it better 🙂

          A bit like driving MB, BMW and Audis, particularly low mileage diesels.

          • But does it come from happy cows that have rested in the fresh green grass (and is not GMO)?

            Do the milk maids tickle the cows’ chins and scratch their necks – cows really like that.


    … There are two types of local government in this world … the small and the bad …

    … What performance lessons have been learnt from the smaller and therefore functional adjoining units of local government … Waimakarari and Selwyn ? …

    … The ‘blindingly obvious’ culture problems were caused by the forced local government amalgamations of 1989 … when prior to that, we had on a comparable population basis, as many units of local government as the United States (90,000) has today …

    … If you take the ‘local’ out of local government, you bureaucratically bugger it …

    Top (Christchurch City) council staff ‘manipulated’ reports to hide bad news from councillors and public … Tina Law & Dominic Hare … The Press / Stuff

    … The major issues and problems were well known back at the time of the 4,500 strong Peoples Protest back in early 2012 … when current Mayor Lianne Dalziel was elected the following year, to start in to addressing these blindingly obvious and serious issues …

    Christchurch: The Way Forward … Hugh Pavletich … Scoop News

    … access extensive further background information …

    Performance Urban Planning

    • Remember what a former Christchurch Central Labour MP Brendon Burns said in a The Press Opinion 8 February 2012 …

      Better communication can shine a light in the darkness | Brendan Burns OPINION |

      … extract …

      ‘ … For this city to best recover from its seismic nightmare, the process of decision- making needs to be inverted to truly empower communities. Such a radical change is very difficult to accept for anyone – of any political persuasion – who happens to be in power.

      To date, the required response is tokenistic. A top-down command and control system may be appropriate in the days after a disaster but not in a recovery which will take years. Among the ultimate victims will be those who talk the talk but don’t walk the walk when it comes to true community engagement. Just look at the Christchurch City Council….’

      When do they intend to start learning … what we have known all along ?

  2. Kingsgate Consolidated and Thailand moved their arbitration on Monday in Hong Kong for the same reason