Macro Afternoon

See the latest Australian dollar analysis here:

Australian dollar runs riot on BoJo win

The mixed session from overnight markets has seen an equally mixed result here across Asia as tensions in Hong Kong remain high, while tech stocks and a softer Yen are lifting risk appetites only in Japan. The USD continues to firm against most of the majors, in particular Kiwi as traders await tomorrow mornings RBNZ meeting that could result in another rate cut.

Chinese stocks have trying to rally after the previous wipeout with the Shanghai Composite holding on to a meagre 0.1% gain into the close, still just above 2900 points while the Hang Seng Index is bouncing back after a poor session, up 0.3% to 27025 points staving off a new daily low. Note how price is just bouncing off of trailing ATR support which equates to the previous support/resistance zone that was cleared before this blowoff rally started

Japanese share markets are doing well enough however with the Nikkei 225 firming to close 0.8% higher to 23520 points. This is due to steady Yen selling after a small retracement by the previously well overbought USDJPY pair to just below the 109 handle as momentum kicks up again and the trendline from the late October low remains intact:

The ASX200 slipped to take back half of the previous gains, down 0.3% to 6752 points, lead by WBC which dropped nearly 4% in the session, dragging the other banks with it. The lower Aussie dollar hasn’t helped this time, with the Pacific Peso struggling to get any traction as it remains under pressure near the mid 68’s:

Both S&P and Eurostoxx futures are firming slightly with the S&P500 four hourly chart showing price holding on well above trailing ATR support, but not yet making a new session high since Thursday last week as momentum remains poised:

The economic calendar continues to be Euro-centric with the latest Euro-wide ZEW survey to watch out for.

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Comments

  1. GunnamattaMEMBER

    for anyone who has missed it earlier……

    For peace and prosperity, recapture the spirit of Bretton Woods
    https://www.theage.com.au/national/for-peace-and-prosperity-recapture-the-spirit-of-bretton-woods-20191111-p539dr.html
    By Josh Frydenberg

    Since Federation, the transformation of the Australian economy has been profound. We are now more urbanised. We live longer. We have a more diversified economy and are no longer reliant on the United Kingdom and the “sheep’s back”.

    Dear Josh, our economy may be more diverse, but only insofar as human existence is more diverse. The substance of Australia’s economy is no more diverse than it was circa 1860. For the record as we look 2020 in the eyeballs about 2/3 of Australian export income comes from coal, iron ore and gas, and most of the rest comes from the population Ponzi backed sale of Australian citizenship via education visas – making Australian university courses the most expensive on the planet while, at the same time, trashing their intellectual merit.

    Apart from a few thousand people involved in the production of iron ore, coal and gas, and some agricultural producers, almost none of the people of Australia are globally competitive at their workplaces. Australians are amongst the most heavily indebted people in the world, and policies of your government have been central to both exporting the export competing industries Australia once had, and encouraging Australians to speculate in real estate like no other nation, as well as facilitate the nationals of other nations speculating in Australian real estate, and pricing that real estate far beyond the plausible reach of all but the wealthiest future Australians.


    John Maynard Keynes speaks to the Bretton Woods conference in July 1944.CREDIT:AFP/IMF

    Is there anything more genuinely fake than a piece by a Torrynuff Treasurer being illustrated with a pic of John Maynard Keynes?

    In the early 1900s the life expectancy of an Australian was 56; now it’s 83. Two-thirds of Australians lived outside of the capital cities and now it’s the other way round. Agriculture was 20 per cent of GDP and now it’s less than 3 per cent. And neither China, Japan nor Korea were listed in our top 10 export markets; now they make up the top three.

    Dear Josh, take a look around you – South East Asia, Africa, Latin America, Eastern Europe – people are actually living longer everywhere. That reflects the demise of intensively manual labour and the advent of machinery, as well as a quantum increase in agricultural production. We all learned these same points at school generations ago and are no longer really all that impressed by them. The reason Australians have become urban rather than country is because that is where the jobs are, and their labour is no longer needed in the country.

    Instead of singling out agriculture for declining from 20% of GDP to 3%, why not think about what has grown? Services have grown, Josh. Some of those services are useful and required, some of them are pure frippery, and all of them are by global standards eye glazingly expensive – from the education to the medicine to getting a haircut or a massage, it is all far far cheaper somewhere other than Australia than it is in Australia.

    Just as Australia’s economy has changed, so too has the world’s. From islands of isolation, the continents of Europe, the Americas, Africa and Asia have become plugged in to each other, interconnected by technology and the forces of globalisation like never before.

    With a few clicks on a keyboard, you can order your shirts from London or a book from New York. Global supply chains mean the iPhone in your pocket has components from 43 countries, and Boeing in Australia makes wing parts for planes assembled in the United States and sold to the world. As new markets opened up, economies that were largely agricultural have turned into manufacturing hubs, generating rapid export-led growth.

    Josh, the facts of life. The only thing generating export-led growth in Australia is digging things out of the ground and loading them on a boat – and we were doing that in the 1850s. The people doing that in the early 1900s were carrying far fewer people with the taxation on them, and they weren’t living in the most expensive houses on the planet (and in 1900 Australia had about the highest standard of living in the world).

    Almost every Australian knows about those few clicks you mention, because it is the same few clicks they access to get whatever product they want cheaper than buying it from somewhere in Australia. Many Australians are also concerned about those few clicks because they work in the service industries which could conceivably be relocated offshore somewhere to increase profitability of some large corporate which probably also doesn’t pay much tax here, and does also nail wages to the floor with the most ‘flexible’ (read irregular, parsimonious, family unfriendly) employment arrangements it can visit on employees or even the most stress inducing hand to mouth scrabbling for sub – contractors.

    In case you are wondering the manufacturing hubs, painstakingly crafted by your political predecessors in the wake of the fright WW2 gave us that we couldn’t produce an awful lot of strategic requirements to fend for ourselves, have pretty much gone. Next time you pop down to Boeing ask them how much longer they are planning on being around and see if it is longer than what they have existing contracts for?

    While the world’s population has increased from 1.7 billion to 7.7 billion people today, median incomes have risen dramatically, with more than 50 per cent now classified as middle class. More than 40 million people per year have moved from rural to urban areas and, in the process, more than halved the number of people living in poverty from 1.8 billion in 1950 to about 750 million today – a figure even more remarkable given that over that time the global population has almost tripled.

    While you are on about population Josh, could you shed any light on how Australia fits into that increased population dynamic as far as your government is concerned? How many more immigrants are we planning to fit in, and what will be the quality of life, and environmental consequences of that increased intake? Could you dig up some answers for us of why there was a doubling of Net Overseas Migration after 2005 when ordinary everyday Australians have never actually been asked about that. Should they get a say, Josh? Or even, Josh, do you think we need to start working out how to get very large volumes of water flowing down our major river system, and maybe getting more of those coastal Australians to live inland? (or do you reckon they wont be put off by drinking algal blooms caused by your friends hoarding the existing flows to grow cotton and launder the profits through Bermuda?)

    But just as growing wealth, new technologies and improved access to health and education have lifted global living standards, there are a new set of challenges that, if not addressed, will put at risk the progress we have made. These challenges are as diverse as demographics and debt, environmental sustainability and great power relations. Individually, each challenge is enormous and cannot be solved by any country alone.

    Josh I don’t know how to tell you this but the guy you call boss once carried a lump of coal into parliament, and the leader of your major partners was only yesterday claiming global warming was a figment of the collective imaginations of inner city greens voting types.

    The street cred of you or your party is pretty low when it comes to you plausibly having any answers to any problems. Indeed the overarching suspicion of far too many Australians is that every time someone from your government says, like you, that something can’t be solved by any one country alone, it is code for stating that Australia wont be trying in any way to solve any of them, and will only be dragged kicking and screaming to any plans agreed to by other nations which do lead a response.

    With average life expectancy now more than 30 per cent longer than in 1960, it’s estimated we will move from one in 11 people aged over 65 in the world today to one in six by 2050. In countries such as China and Japan, the ageing of the population is particularly pronounced. By some estimates, China’s population will begin to shrink as early as 2027, and by 2050 China will have more women over the age of 84 than there are people in Australia today.

    It’s interesting you note this Josh because your party was once handed over a world leading plan for paying for the ageing population. It was called superannuation. It was your political predecessors who transformed it into a world beating tax avoidance, inheritance preservation and real estate speculation mechanism, underpinning a crowd of ticket clipping frauds, that Australians know today. More importantly it is measures enacted by your government, as well as the governments before, which are adding to the anxiety of a large number of Australians about whether they will ever be able to afford to retire, before they think about the sheer terror involved in the aged care system – from the scabies and the beatings by ‘assistants’ to the bonds and deposits required by aged care operators, which make it look like a bi-product of the investment banking world.

    As this ageing demographic shift takes hold, economies will come under pressure as the proportion of the working-age population falls and the demand on health, ageing and pension systems increases. As more people save for retirement, global savings increase. This produces surplus savings that drive down the price of funds and ultimately interest rates, a contributing factor in a low-interest-rate environment that is evident in the world today.

    Josh, it is your political bequest that Australia will have two key drivers of its ability to increase funding for aged care. These are:-

    (1) Taxing a consumption based economy featuring the world’s most heavily indebted people, with the world’s most parlous competitive position, who have not experienced meaningful wages growth in a decade, in an economy which has been hollowed out of export competing and globally competitive production or services provision by ideology, Free Trade Agreements (often signed sight unseen), and the mining boom which has held the Australian dollar far higher than it may otherwise have been.
    or
    (2) Taxing mining based revenues of mainly profit shifting and transfer pricing global companies, employing relatively small numbers of Australians and providing essentially (a) coal, (b) iron ore, and (c) gas for a world which is increasingly looking like easing off the (a) coal on global warming concerns which haven’t yet made their way to the LNP side of Australian politics, for one major (b) iron ore customer which may not have all that much heavy building to do, and which may have strategic interests of the type which caused Australia to craft a manufacturing industry after WW2, and for a world awash with (c) gas but which your government has inexplicably made the world’s most expensive for Australians.

    Then there is the not inconsiderable issue of that taxing being done by a political process (both sides) touting small government and low taxes – while at the same time feeding a zoo of gouging monopolistic corporate players, or the same dependent on ripping off taxpayers with large government contracts, and sending ordinary Australians roboletters for services or having those companies record their calls for coaching purposes when they have a query (or more).

    Do you get a sense of some of the bases of anxiety and concern about what you, the government you are part of, and the menagerie of vested interests and monopolies who now seemingly control the Australian economy may do insofar as it affects ordinary Australians, Josh?

    With interest rates low, global debt levels are being managed. However, with global debt levels up 15 per cent in the past three years, to now be at a record high of $US188 trillion ($273 trillion), or 230 per cent of global output, concerns are rising. At these levels, the ability to respond to future shocks is more constrained; the impact of any future shock is more amplified and future generations will be left to deal with the consequences.

    Just on that subject Josh, has your government, or governments you’ve been part of, done anything to push that debt into anything economically productive? Or has it been pushed into the economically non-productive via real estate speculation? Would you care to tell those of us that your current game plan for the short term future of the Australian economy is to spark even more real estate speculation to give it the appearance of health, and maybe get those with the real estate assets to spend some more to create a wealth effect? Could we ask you if this will benefit most Australians?

    With the world’s population estimated to grow by another 2 billion people between now and 2050, the pressures on the environment are increasing. In Asia alone, energy consumption has quadrupled over the past three decades, the demand for raw materials has surged and the impact of human-induced climate change has been real.

    Josh did you clear that last line with the Prime Minister or the Leader of the Nationals? Could we just get a comment from you about whether you think human induced climate change may be a factor in reduced average rainfall readings across most of eastern Australia, higher average temperatures across most of eastern Australia, and the potential for increased bushfire potential across most of eastern Australia?

    History tells us that as economic weight shifts, so does strategic weight. In 1980 China and India accounted for 1/20th of the world’s GDP. Today it’s one-quarter and growing. As China has risen, we have seen greater tensions with the United States, which are now spilling over into the global economy. The reciprocal imposition of tariffs by the United States and China will, according to the IMF, reduce global output by 0.8 per cent, or $US700 billion over the period to 2020. This is harming not just the protagonists but bystanders as well.

    So let us pose the question Josh. Has a government you have been part of signed Australia up to reliance on selling commodities or laundering corruption proceeds for a nation with whom we may have strategic interests so separated that those economic ties have become a tool for that nation advancing its strategic interests vis a vis Australia with relative impunity and conspicuous disregard?

    In today’s global environment, characterised by changing demographics, elevated debt levels, environmental pressures and great power tensions, it’s critical that we pursue reforms at home that retain our competitiveness, openness and fiscal discipline, and that globally we remain a strong advocate for a transparent and rules-based global economic system that has strong multilateral institutions.

    Well Josh, when you say ‘we retain our competitiveness’ could you identify any particular part of the economy apart from mining and some parts of agriculture that you thought was actually competitive? Without signing us up to selling citizenship via an education visa?

    And then, when we get to motherhood statements about rules based international orders, do you think a significant number of nations may now be seeing that rules based order ‘though the prism’ of some weapons of mass destruction which never were found in Iraq, and that some rather big nations who we helped to bring into that rules based order are now seeing it through the prism of their own national interests, without actually agreeing to any rules whatsoever?

    Are we signed up to that dynamic Josh?

    The compact at Bretton Woods that was agreed 75 years ago provides us with a framework based on co-operation and co-ordination that has underpinned our peace and prosperity. We need to recapture that moment and the lessons that got us there. Conflict between nations, aggressive currency devaluations and protectionism were the backdrop for that 1944 meeting in the little town of New Hampshire. There was a recognition that from such conduct all parties paid a price.

    As a result, those nations present reached an agreement on a new pathway forward that would see the establishment of the World Trade Organisation, the International Monetary Fund and the World Bank – organisations that have been and continue to be central to the amelioration of tensions between nations.

    As then-US secretary of the treasury Henry Morgenthau said of the 44 nations present, including Australia, they had not “found any incompatibility between devotion to our countries and joint action. Indeed, we have found on the contrary that the only genuine safeguard for our national interest lies in international co-operation.”

    It’s a little difficult to say this to you Josh, given your own family history and all. But WW2 was the backdrop to Bretton Woods – circa 40 million dead. Yes, another rules based order overturned by a dictatorship and allies seeing the world, and flouting those rules, through the prism of their own interests. And it may interest you to know that there were more than 44 nations in the world in 1944 Josh. The 44 nations who met there were meeting about the developed world and what it may conceivably do to prevent one financial collapse which had triggered a world war from being repeated.

    The real reason they were meeting was so that the United Kingdom – which had financially exhausted itself – could hand over to the United States the role of chief policymaker, and financial system backstop. The other nations (including Australia) were just there to agree. The World Bank, the IMF and the WTO were established to underpin US ideological primacy and protect the interests of larger corporates.

    Some of the advice shelled out by the institutions is now part of the prism though which rapidly developing economies see the primacy of their own interests and disregard interests of nations like Australia, which after all has sold off its ability to economically compete with these nations, or even sustain itself economically without the support of these nations, for an economic position revolving around flipping real estate to one another at ever increasing nominal prices.

    Today, Australia wants to see the WTO reinvigorated with a more effective dispute-settling mechanism and a broader remit to deal with e-commerce and the opportunities created by the digital economy. So too with the IMF, we would like to see change to the governance structures reflecting the greater role played by emerging economies, particularly in Asia. With these reforms, these important institutions will be even stronger and more relevant to the task before them.

    Josh, could we pose the idea that some of these nations are only interested in dispute avoidance mechanisms insofar as they can hide behind them while protecting their own vested interests? And those opportunities you mention with regard to the digital economy – is there any opportunity greater than tax avoidance enabled in the digital age? And from there what happens to Australia (up to its gills in real estate speculation, citizenship based money laundering, exporting carbon intensive climate change agents) if there is no enhanced WTO or IMF, and if globalism – the financial form which has never recovered since being exposed as utter bull in 2008 – had its high point a decade ago and we are now in a world of ‘managed’ globalism? (as the Chinese, the Indians or the Russians might care to frame it). Could Australia find itself ‘managed’ to irrelevance? And could Australia find itself having impoverished its future – in terms of both the opportunities available to future Australians and the price they need to pay to actually be in Australia?

    As the world set out on a destructive path to World War II, Sir Robert Menzies espoused in 1939 an important role for Australia on the world stage, saying: “It is true that we are not a numerous people, but we have our vigour, intelligence and resource.”

    His statement was as right then as it is now.

    Given Australia’s strong strategic, political and economic ties with key partners both near and abroad, we are well placed as a nation to play an active and constructive role. Australia has benefited greatly from the transformation of the global economy, of which we have been a key part. But there are significant challenges ahead. Working together and invoking the spirit of Bretton Woods, we can meet these challenges and secure peace and prosperity for all.

    Josh, I have a final question for you. What the F**k does ‘but we have our vigour, intelligence and resource’ actually mean in any sort of applied sense? Our vigour has us running a population Ponzi to give the appearance of growth, our intelligence has seen us export our competitive position and trash our education sector, and while we have resource, how much are they going to be worth to the Australians of the future?

    Josh Frydenberg is the federal Treasurer.

    Josh is an intellectual fraud and lightweight of the 55% in a Year 10 history essay sort

    • We have a more diversified economy

      😆😆😆

      dumb and getting dumber

      About 70 per cent of products sold to foreign buyers, on a net basis, are minerals and energy. Add in food, alcohol, wool, tourism and metal products, and the figure rises to around 99 per cent.

      https://www.afr.com/policy/economy/australia-is-rich-dumb-and-getting-dumber-20191007-p52y8i

      Australia sells the world almost nothing, relative to total exports, that requires a degree to make.

      Singapore – a nation with no natural resources – expanded into 19 new global industries that generated $US14.4 billion ($21.3 billion), or $US2560 per resident. They include gas turbines, x-ray machines, synthetic rubber

    • Frudenberg calls on global institutions (you know, the ones Morrison hacks on) to stand up and do the heavy lifting but is dead silent on what he, as Treasurer, is doing in support.

    • “it’s interesting you note this Josh because your party was once handed over a world leading plan for paying for the ageing population. It was called superannuation”

      Superannuation was a dud from the outset. Far from a world leading plan it will turn out to be the most costly and inefficient way to manage retirement incomes probably across the developed world. In reality – and now it is acknowledged – simply taxing the same % as PAYG from employee salaries and earmarking it for the aged pension would provide a far better standard of living in retirement. It is actually a disgrace that a bunch of careerists were able to hijack a former social democratic country, confiscate workers wages and privatise the pension system.

      “The World Bank, the IMF and the WTO were established to underpin US ideological primacy and protect the interests of larger corporates”.

      They were established initially for benevolent reasons, to create a system which would underwrite global demand and avoid another deflationary period like the 30s. The design was anti-corporate – especially private banks – in that in acknowledged the private sector couldn’t be relied upon to manage the capital account and set the exchange rate through their pro-cyclic speculative stupidity – eg. Wall Street foreign lending in the 20s rather than stimulating domestic demand and appreciating the real exchange rate. Bretton Woods mark 1 insulated the state from corporate interference to keep a lid on global imbalances. It is a joke that Frydenberg – who like a journalist thinks a governments only roll should be to run a surplus even when demand is weak – even references Bretton Woods. It wasn’t a perfect system but was far better than the Friedmanite law of the jungle system run by private bankers which we’ve got now.

  2. NEW ZEALAND …

    Migration added 54,623 people to this country’s population in year to September … Greg Ninness … Interest Co NZ

    https://www.interest.co.nz/property/102531/migration-added-54623-people-countrys-population-year-september

    There was a net gain of 54,623 migrants in the 12 months to September, up 10.3% on the 12 months to September last year, according to the latest provisional estimates from Statistics NZ. … read more via hyperlink above …

    • All good and fine if the Government actually had a plan but what we’ve seen thus far is nothing more than a fvcken disaster in the making.

      • The Traveling Wilbur

        Duh. Jobs and growth. And stopping lower house prices, as that’s a bad thing.

        It’s not like they didn’t tell you that was the plan.

          • The Traveling Wilbur

            plan is suddenly equal to “course of action”? Have you met Australia?

            Tony Abbott had one of them. Something about stopping climate change through action. OK. Yeah.

          • I wasn’t sure if Abbott had a plan, or hope or hopefully a plan. Either way it was a fvcken disaster.

          • The Traveling Wilbur

            Get a piece of paper and a rubber stamp and write some intents on the paper and then stamp it. Preferably in red. That, is, without doubt, what a plan is around these parts pard’ner. It helps if the stamp is red btw.

            You’ve seen Blackadder right?
            You know Utopia is a documentary? Right.

            Btw, note I didn’t say the stamp had to be a ‘Plan’ stamp. ‘Draft’ or ‘Action’ will do just fine. Or, dog forbid, ‘Draft Action Plan’ [sic].

            Not got a plan in Brisbane? In govt? Build a fckn bridge and get over it.

    • proofreadersMEMBER

      Having screwed over savers and retail depositors, the RBA happy clappies can move on to their next human experiment?

      • “The nation has moved very quickly to ask Barnaby to shut the f8ck up, as many begin to question what the f8ck the point is of the National Party party, other than running a protection racket for very large, tax-dodging multinational mining corporations.”

    • The Traveling Wilbur

      Thank you – I came here tonight to post that exact excerpt after hearing it on 7 news. And you’ve gone and sourced it and everything (ABC thank goodness).

      So, what of Barnaby?

      He has, finally without doubt, demonstrated that he has forfeited the right to represent any constituency, and, under Westminster rules, must be removed from the party he represents by its leadership.

      When this emergency is over, not before. To ensure due respect is shown to the victims of this tragedy.

      This is not a country of Trump, no matter how much others would like it to be. And he will never, ever, be able to walk those words back. He must go. No matter how slow that process may be.

      Anything else WILL BE A CLEAR FAILURE OF LEADERSHIP BY SCOTT MORRISON. You all might like to remember and repeat that sentence. OFTEN.

      (it should be noted I’ve already assumed, correctly, that he doesn’t possess sufficient character to do the right thing and resign)

      • Absolutely agree.
        He is an appalling specimen, without even rudimentary grace or manners.
        And I agree he won’t resign
        – that narrow majority
        – total lack of insight, and no respect for others.
        – and a man supporting two families without otherwise recognisable intelligence, skills or education.
        He is very used to that high income and life of privilege, and probably cannot maintain it in any other way.

    • And after all the climate change blame game, no one has mentioned the fact that absolutely no scrub burning occurs in the cooler months in southern Aus, just fire breaks. Go to NT where the land is still somewhat run by the indigenous and they mass burn the scrub straight after wet season, every year. Why don’t we do this down south? Because the “educated” European city greenies think they’re smarter than the indigenous who have run the land for thousands of years. Don’t blame climate change, you can turn the power off the whole country and you’d still have fires. We should be asking indigenous for advice.

      • https://www.usatoday.com/story/news/2019/11/10/climate-change-solutions-more-cities-banning-natural-gas-homes/4008346002/
        Burning gas to heat is very efficient when compared to electricity where fossil fuels are burnt to convert mech. power to electric power which is fed to a transformer then line losses then more transformers until it gets to your house only to be used to heat up your water, the efficiency is absolutely terrible! Last time I checked Cali was not 100% renewable. Another great decision for the environment ay!

      • Greg Mullins, former Fire and Rescue NSW Commissioner:

        “Warmer, drier conditions with higher fire danger are preventing agencies from conducting as much hazard reduction burning – it is often either too wet, or too dry and windy to burn safely. Blaming “greenies” for stopping these important measures is a familiar, populist, but basically untrue claim.”

      • The Traveling Wilbur

        You have a choice. Either learn how controlled burns are conducted (and regulated) in other states. Or shut-up until people stop dying, please.

        The targets of your post are as innocent of your implict maligning as the koalas burning as we speak. This isn’t about where people live. Or who put politicians where they are (who decided those regulations you are, badly, referencing) it’s about laws and land management. Pretty sure that’s well understood in Queensland.

        “scrub” is not the issue here.

        • How often do you hear of bushfires up in the northern NT? They get a lot of growth during wet season followed by long hot 30+C dry periods mid year. The indigenous run the land which includes burnoffs. I’m not a know it all, I’m European and I don’t have the answer but they do and they successfully manage the top end. They have managed this country for thousands of years how about our govt ask them for advice is all I’m saying rather than just blaming climate change. You also sound like an uninformed know it all by the sounds of it.

          • They did burn offs around Darwin for as long as I remember but scaled back as urbanisation around the region increased. They still do burn offs around the outer areas of Darwin that have occasionally got out of hand and torched a couple of sheds. Why don’t you hear of bushfires in the wider NT? Because it’s sparsely populated. Most bush fires burn out naturally unless it drifts toward an community. Lighting strikes cause a majority of bush fires, it’s all natural and thanks to the vastness of the NT, all relatively harmless.

          • The landscape of the NT is vastly different to the forests of the east coast. Also, whilst there is a lot of fires every dry season, the cattle station owners very much don’t want their cattles feed burnt every year. And yes, I’ve worked and lived right across the whole top end of oz for the last 20 years. I’ve even done controlled burns myself and it’s always national parks or crown land, not cattle stations which is the vast majority of land there.

      • The Traveling Wilbur

        And it would seem the spontaneous pile-on of the uninformed is well underway.

        Shame there’s no facebook algo for that. That I would pay for.

        • TTW, you are too serious today. I don’t like it.

          Have your run out of booze? Shall I send a servant on a bicycle?

          • The Traveling Wilbur

            Thank you for your thoughts, but the calvary [sic] is not required. I’m just pissed. And drinking 46% abv Irish Whiskey [sic].

            And sick of people who are appointed to represent the interests of others disgracing their positions. And no, that’s not supposed to be a beetrooter pun.

            fckn. You’re a bad influence you are.

          • Ah, so you’re just fuсken sick of sh!tсunts fuсking up your sh!t.

            I get the emotion, man, I get it. Pour that whiskey into you and pour your heart out here. I’m here for you.

          • The Traveling Wilbur

            Reading my mind, and not my words. Accurately. And again.

            For the record, it was what I wrote AND what you said. But it didn’t feel like the right time to belabor what the poor-little-me-side of my problems might be.

            That’s what alcohol is for right?
            That said, I know some fckn stupid cvnts making twice what they’re worth… and that’s just sad.

            Still, beter a bottle in front of me than a frontal-labotomy.

    • There’s something to be said for having at least one person who has a background in science in any cabinet.
      Both Thatcher and Merkel had studied chemistry at a university level.
      Sadly, Thatcher then went on to become a barrister, and then a politician.
      Yet, there was a time when she was interested in the world as it is, and that did occasionally come to light when she took her mind off the dismal religion of political-economics.

      • The Traveling Wilbur

        Maggie took her mind off a lot of things.

        Bladder control, who people were and reality (in no particular order or period of Prime-Ministership) were some thereof.

    • Thatcher was what the UK needed at the time. And Merkel went to spend $500 billion on Energiewende, so insufficient coal is required to 2038, at least. In Merkel’s favor she did invite more than one million displaced persons to call Germany home.

      • Thatcher asset stripped the U.K. and was losing political capital with it until that little war, all because she “believed” in Hayek’s propaganda, not only that, she then did her best to infect the E.U. So now after how many decades the best you can do is say she did what was needed at the time. How about the U.S. poodle did exactly what it was supposed to do in advancing neoliberalism. So you must think all the inequality and failing social conditions is a triumph, not to mention the antics now days of her mobs offspring … you really got the meritocracy irony down pat as is its original author indicated – its an oxymoron ….

        But you’ll get that when your entire – philosophical reality – is founded on the imaginary “rational agent buddy” …. I thought only kids had imaginary friends and when we – grow up – we deist with such contrivances.

    • Well, with your house a fixed location asset, I think I am happy to dodge that bullet. I’d rather be flexible and not literally watch my assets go up in flames.

    • The Traveling Wilbur

      The irony is strong with this one.

      Your training is not yet complete. Investment property purchase you must.

      And dog forbid, please don’t sleep with your sister. That’s just wrong. No matter which galaxy you’re in or how far away it is. Even if it’s really far.

      Well, OK. Just once. If she’s hot. But that’s it OK?

  3. The Traveling Wilbur

    And could someone please add, into tomorrow’s links, the clip of the beardy sky after dark host listing all the neo-liberal sky hosts by name, and explainin how they are, ALL, always getting into “the sh1t” if “we don’t push back”.

    There’s some of it in Media Watch’s last epsiode if you can’t wait until tomorrow. I’d like the fully unpacked version though. Please.

    “It’s the green button on your remote control.”

  4. Just in the nick of time to take the heat (no pun intended) of the Nats, Agnus Taylor is back in the spotlight…or the Libs are using the spotlight on the Nats to take the trash out. Either way, it’s all bad.

    “Angus Taylor to face grilling over doctored City of Sydney travel documents”

    Angus Taylor will face a further grilling when parliament returns over the origins of a doctored document he says informed a letter blasting the City of Sydney over its travel spending.

    An estimates spillover hearing on Monday heard his department had prepared a draft that did not include the highly inflated figures and the minister representing him at the hearing refused to answer questions about where they came from.

    Taylor, the minister for energy and emissions reduction, will also be under pressure over the grasslands saga as new answers to questions on notice revealed the department had not been contacted by the unnamed Yass farmer that Taylor says prompted him to seek meetings with the environment department over the grasslands listing.

    https://www.theguardian.com/australia-news/2019/nov/12/angus-taylor-to-face-grilling-over-doctored-city-of-sydney-travel-documents

  5. The Onion have an article they publish every now and then. It tends to pop up when it is all getting a bit too much for the citizens of America. The chaos of life soundtracked by the tsunami of soundbites and opinion from people that, in a perfect world, would have been sent to colonise whichever planet the Xenomorph is currently nesting a few years ago, can cause even the sage to find themselves a bit bothered at what is out of their contril.

    Here it is, in all its copy pasta-glory, with only two words changed. May it momentarily soothe you as it did me. (I sure picked a bad week to quit LSD.)

    Report: Make It Stop
    https://www.theonion.com/report-make-it-stop-1822874962
    EVERYWHERE—Claiming that they just couldn’t stand this bullsh1t anymore, Australians across the country confirmed Tuesday that someone, anyone needs to please, just make it stop. “Please, please, please, we’re begging you here, just put an end to it immediately,” said sources, noting that it had all gone way, way too far and they would do almost anything for even a few glorious minutes of respite. “We’re on our hands and knees, pleading with you to make it all go away once and for all. What’s it going to take? Jesus Christ, just stop it! Stop it right now!” At press time, sources confirmed that they knew deep down it was never going to stop.