Weekend Links: 30 November – 1 December 2019

The arrival of implacable gifts, 1985, James Gleeson, Art Gallery of NSW

 

 

China – Asia

 

Europe – UK

 

Americas – US

 

Terraspecufestorus

 

Macro & Markets

 

…and furthermore…

Latest posts by Gunnamatta (see all)

Comments

      • boomengineeringMEMBER

        Got caught with that one before,Weekend Links not Weekend Reading. Do any others count?
        We were all patting each other on the back until the realization came and then we were backdoored.

    • “The arrival of implacable gifts” (picture)
      [1985, James Gleeson, Art Gallery of NSW]

      Gleeson – by his title & the symbolism in the picture portraying the third world “implacable” migrant tsunami and destruction washed up on our shores.

      A typical Sydney suburb overrun in shipwreck of imported “implacable” pestilence.

      -> China today confirmed officially it has an outbreak of the plague (Black Death), with a number dead.

      https://www.dailymail.co.uk/health/article-7734477/amp/China-confirms-fourth-plague-case.html?ico=amp_articleRelated

      Given the vast majority of our 1.45 million Chinese mainland born communists are Chinese Hukou underclass internal illegals, trafficked in from the Chinese slums and these rural areas….

      Will there be any increased Australian bio security checks on the Chinese coming in?
      Oh we don’t actually do any and their health checks are done in China & routinely frauded, or not at all.

      Hmmm,, how long before a Black Death plague outbreak in Australia brought in by a Chinese in one of our Sydney or Melbourne Chinese enclave slums?

      In other news.
      Muslim jihadi stabbings in London & the Netherlands.
      Well that’s already systemic here.

      • The Black Death was a bacterial pneumonia, believed to be caused by Yersinia pestis. As such, it is unlikely to repeat it’s devastating performance (because we can fight bacterial infections now, they could not, then).
        That said, I am not against the thrust of your argument that we are threatened by uncontrolled borders. But any argument against the mainstream has to be watertight to maintain credibility

  1. Someone is obviously going out on a bender tonight and decided to post weekend links early.

    But at least I am fourth again!

    • boomengineeringMEMBER

      Apologies to SnappedUp, looks like no Weekend Reading so can claim victory first. Hope Harroldus isn’t still waiting for WER.

        • The Traveling Wilbur

          There’s a *2015* Cab Sav now (newly) available in BWS. 25ish a bottle.

          Upon getting over the ‘WTF?’ closer inspection revealed that it was made in South Australia and imported by … The Officer’s Mess … Duxford … UK.

          Thank fcuk (heh) the poms still don’t know what good wine is. 50 years it’s been. 50.

          I bought two bottles an hour ago.

          PS re your comment, very generous of you. Hope you saved some for yourself for later this weekend.
          PPS re your daily links comments earlier, and to think I was worried about crossing a line with Menzies references.

          Cannot wait to open one. May have to do so while making salad.

  2. I won this year’s MotoGP tipping comp so I am happy with third on here tonight . Then again, I am easily pleased quite obviously by living in a country that tolerates what passes for governance generally in Australia.

    • $225bn?

      Apply the ‘NBN extrapolator’ and we reach the tidy sum of $620bn.

      Sounds pretty reasonable for a couple of diesel-powered subs.

    • proofreadersMEMBER

      Absolute value for money. You know the LNP are the world’s best economic and everything-else managers (they’ve told us often enough) and thank goodness they are now in their 1,000-year reign..

    • Yeah we’re paying extra to take nuclear reactors out of the subs and replace them with WW1 tech of underpowered diesels and batteries.

      Australia is a third world country that knows it won’t be able to maintain nuclear powered subs.

  3. ‘”beyond the Phillips curve”
    neoliberals just love bashing up the Phillips curve. even when it’s been spot on for the last 30 years and Friedman’s natural rate hypothesis has been dead wrong.

    • Even the Fed’s own research has called the Phillips Curve the biggest pile of BS.

      Dude, give it up. Economics is easy – forget the fairytale models and the bullshyte theories — and religious adherence to complete cvnting garbage. Economic theory can be proven empirically and theoretically. No ‘math’ involved. Forget Friedman too – he’s one of the chunts.

      Cheers all. Happy Friday night (unless the missus is ‘saving money’ during Black Friday, in which case, get back to work!)

      • Show me the Fed’s research which says that the Phillips curve is BS?
        If you are referring to Powell’s statements he is in fact saying Friedman’s non-theory is BS. ie. inflation *does not* accelerate at low unemployment rates and doesn’t spiral to hyper deflation at high unemployment rates so you can in fact choose a wages (inflation)/unemployment point, it is just a matter of getting full employment right. And NAIRU is a terrible guide.
        In summary the Fed says Friedman was dead wrong.

          • “For example, in March of 2017, Janet Yellen commented the “Phillips Curve is Alive“”.

            The one sensical sentence in that whole thing. From a genuine economist who would actually know.

            All that guy is saying is Friedman is wrong. Yes the Phillips curve exists however it is flatter than Friedman pretended. ie. inflation expectations are less important than Friedman thought at low and high levels of unemployment. So you can choose a low level of unemployment without risking accelerating inflation as per the original Phillips curve. It isn’t saying the Phillips Curve doesn’t exist.

          • All arguments around the Phillips Curve became null ad void as soon as you exclude one of the major factors driving the economy. If you (conveniently) ignore the state of the external account, your supply, for all practical purposes, becomes almost infinite.

    • There’s really no point continuing this:
      A) The correlation between inflation and wages is variable (at best), rendering the Phillips Curve a crock of shyte.
      B) Ben Bernanke is a fvcking idiot — the evidence is too numerous to transmit without crashing the internet.
      C) Janet Yellen is lucky enough to be overshadowed by a bigger idiot than she is.
      D) Keynesian economics is a crock of fvcking sh1t that only morons like the aforementioned t!ts would defend.

      This is Classical Economics vs Neo-classical Economics …. or Atheism vs Christianity.

      • ok. so for the purposes of argument you say the Phillips curve doesn’t exist so there is no trade off between unemployment and inflation. So unemployment could be 0% and there would be no inflationary pressure or unemployment could be 100% and there would be no deflationary pressure. that’s the position?
        The most amazing thing here is, if you agree with that link you aren’t arguing against the Phillips curve. you are arguing against Friedman’s hypothesis that inflation is unstable at low/high levels of unemployment. ie. you are claining Friedman is wrong yet are having a crack at Keynesians/Yellen/Bernanke.

        • Inflation is the expansion in the money supply.

          That’s it.

          Relative to economic productivity.

          i.e. if true productivity were to increase 2% and the money supply were to increase identically, then there should be no inflation (on average).

          • Arthur Schopenhauer

            Unemployment at 100% would lead to revolution, and follow through with civil war, causing significant inflation in basic goods.

            Fvk’n economics fan boys & their fvk’n limited reasoning! 😀

          • @sweep
            Firstly, that’s ridiculous scenario and secondly you’ve dug yourself a hole because in that scenario there would be extremely high inflation, not deflation.

            Logically, if there is 100% unemployment then no consumer goods will be produced and if the money supply is stable then the cost of diminishing (scarce) number of goods must increase — in the case of no production they would will sky rocket. (Just to put Arthur’s point another way – no revolution required)

      • All good BUT what happens if globally we have transitioned to a Post Productivity Economy?
        What does that mean for all the structures that support the concept of a Productive Economy?
        Some would argue that our main Political parties are intentionally positioned on either side of the Productivity Economy battle ground (Capital vs Labour) so if Productivity maximization is dead than so are the Political parties that have championed this goal.
        Personally I believe were entering a transition period where the purpose of wages needs to be rethought. In a way this will be the largest Currency Reform that the world has ever seen.
        In post ww2 Germany there was a recession after the war and the economy stumbled along unable to allocate resources because everyone considered money to be worthless and therefore logically horded goods (especially RE) this made their Economy very inefficient. The 1948 Currency reform effectively repriced labour and the Economy took off almost over night…..I suspect western economies wont truly recover until we’re all ready to accept a similar radical currency reform.
        The really worrying thing is that any delay in making Labour once again Productive will be the break that Automation needs to ensure that Labour can never regain it’s balancing position (Labour vs Capital)….at that stage all that’s left is a good old fashioned shooting match with opposing sides deliberately destroying each others Productive assets.

        • For the sake of clarity I’ll say this:
          The idea of a Post Productivity Economy is basically related to the idea of Secular Stagnation. These are deemed to be ‘states of being’ that are beyond ‘our’ control and simply need to be adapted to as best we can.

          I reject this thesis outright as I have explained the reasons for ‘secular stagnation’ a hundred times and the required remedy. Equally the idea of ‘post productivity’ runs contrary to how I understand the economy to work i.e. productivity improvements are potentially infinite and should occur consistently – if perhaps at varying rates over time.

          The key issue suffocating our economies today and giving birth to this idea of secular stagnation is simply a private and public sector debt burden that is off the charts, along with unfunded promises made by past governments that simply cannot be afforded. We are drowning in debt. The answer to the problem is a reset and a return to a sound money system. It really is that simple. The financial pain inflicted by a reset on the world’s wealthy elites though would be beyond comprehension and therefore won’t happen voluntarily i.e. they will direct Govts around the world to kick the can instead.

          We will get a reset at some point – it is only a matter of time and will likely occur as a result of a very damaging crisis.

  4. Central bankers are simply the high priesthood of the progressive cult. They enable by fiat creation of credibility, all the other nonsense the cult engages in, from higher education, to the FIRE sector zombies, from muh-equality biology, to the plague of SJW infecting large portions of society.

    Past priesthoods used chicken and goat entrails. Our high priests use dot plots and peer-reviewed garbage. Is there even any point in asking if economics has a replicability crisis? Of course not, its all hogwash.

    One is almost tempted to ask – why are central bankers not more involved in combating climate change? Fret not – your prayers are answered!

    Link: https://www.zerohedge.com/personal-finance/analysts-stunned-after-lagarde-demands-key-role-ecb-climate-change

      • I heard they recently reinstated inquisition. Anyone who questions the value of fiats are to be rounded up and burnt alive.

        • OTH this current madness and it is highly contagious. It has infected pretty much 100% of the ‘economic cogniscenti’, has moved through government and infected most of the population. It is infective madness and would requires the same solutions as infective madness of cattle. The whole herd, i.e. western civilisation, is doomed.

      • “.. Central bankers are simply the high priesthood of the progressive cult….”

        This is more accurate

        “. Central bankers are simply the high priesthood of centralising globalists with authoritarian tendencies…”

        As a public / private cartel where “public” / “independent” management operate the public money system in the interests of private banks the situation is easily misunderstood.

        The private bankers and their corporatist buddies like the current cartel because they effectively run it and profit from it. They offer well paying gigs and a social network to the regulators in return for respecting their “stakeholders“.

        Clueless globalist progressives, like we have around here, like it because they constantly fantasise that they will win / take control of the cartel regulation and force the bankers to work in the public interest.

        Self interested privateers with the resources to maintain control v Useful idiots.

        Breaking up the cartel is the only solution just as it always is the only solution to economic rent seeking, sleaze and corruption.

        Hope that helps.

        • Sure. Tomato, tomato though right?

          In my understanding, only the bottom rung of cultists in any given cult actually believe whatever is being evangelized about. The upper ranks are in on the scam and make out like bandits. I thinks its a pretty reasonable analogy.

          • T,

            It is a mistake to think that the authoritarian centralisers are just “progressives”. The right wing corporatist globalists are far more dangerous because they are much better at driving globalism The “progressive” globalists are annoying but they are impotent and ignored by most. The only progressives who have a real impact are the right wing globalists who have hijacked left of centre and labour parties. They like virtue signalling because it sounds “progressive” but leaves neoliberal corporatism untouched.

            They love that corporatists stuff because they see it as globalism that “works” ….private enterprise socialism.

          • I don’t think that they (various factions of rich people with very low moral standards, all of whom fight each other for more power) are just progressives. I think their primary goal is power and they will don whatever cloak is useful – left/right/center/fringe both sides.

            I think they have been happy to take advantage of the normal altruism of people and use it against them. The majority of their money has been spent on nominally progressive ideals. The strategy has been to use everything from virtue signalling to kompromot style pedo-as-a-social-technology frameworks to destabilize the constitutionally expressed preferences of numerous host populations, including here in Australia.

            This I object to – hence, am perfect happy to spend my time poking holes in said nominally progressive ideals. This is done by using humiliation as a tactic on mainstream progressives. Personalize, isolate, and call them names.

            Its just a way to get others watching to think deeply; and simultaneously deny the corrupt holier than thou virtue signalers social capital. Most of these people are not bad – they have just learnt the wrong lessons due to a perverted feedback mechanism. Raising the social cost fixes the feedback mechanism.

            Most of the people executing the policy think they are doing the correct thing. They fail to realize that they were doing the right thing, its just it no longer works due to the change in scale of human society.

            That is, their policy worked too well, and now humans are more successful than ever so the social tech is no longer working. Fundamentally its a scaling problem – population is bigger leading to more genetic and memetic diversity than the current social tech can competently manage – hence the corruption you see everywhere.

            Why bother with calling them a high priesthood otherwise?

    • Lol your saying the mainstream economics and its philosophical side kicks over the neoliberal period and its post WII rewarming of those that enabled the great depression are progressives ….. MPS was a progressive globalist movement …. hahahahahah~~~~~

      Dear goat …. post GFC most were hippy punching Occupy and proselytizing about libertarianism …. go read your Mises and Co … foamed the runway for all this free market globalism rubbish ….

        • Markets are not – self – regulating … so its a bit hard to try something that only exists as an imaginary ideological selling point – no even a freedom and liberty medal winnar’ like De Soto agrees. QTM got sorted way back in Rayguns and Thatchers day so those that persist should consider why they do, especially the bit about more of everything given the market treatment yet fail [tm] to see the sociological and political ramifications.

          • I just don’t get how people can’t understand that FREE markets self-regulate. I need to emphasise FREE markets. It’s self evident.

            If a business, making and selling 100 widgets a year, suddenly faces a fall in demand – it has two choices: it lowers the price it sells them for (to induce more demand and clear a full 100 units) or it simply produces less of them i.e. it shuts down production capacity. This is a management decision – not one that Gubbermint needs get involved in. In other words, market adjusts accordingly to changed demand / economic conditions. Couldn’t be simpler.

            Except in this day and age Central Bankers have assumed command of the economic ship and are practitioners of a new (and very, er, ‘clever’) brand of economics called Bath-tub Economics. In the above example, the genius central bankers acknowledge the lack of demand for widgets and decide to boost demand by lowering interest rates. Lower rates = higher house prices, wealth effect yada yada, increases borrowing capacity for already indebted consumers etc etc. Squeeze more blood from the stone, and so on.

            The bath-tub is the country’s production capacity and the water in the tub represents demand – every time the level of water decreases, central bankers spring into action to fill ‘er up again.

            This is the stuff of intellectual bankruptcy – but they teach this garbage to every Economics Major and not one of these peanuts, it seems, bothers questioning the wisdom of such idiocy. As such, Western economies are perpetually interfered with by these morons. Great economic strides still occur – but they do despite these interferences not because of them.

          • You seem to intentionally ignore the fact that the term – free – is inapplicable to markets period, outside maybe in some puritan ideological construct of thought. Not that watery philosophical value memes are not used to indoctrinate vast swaths of humans since time immemorial.

            Markets are creatures of state laws post facto, same goes for sovereign money.

            Arguing that ones ideology can’t manifest because its not truly free to operate as its proponents envisioned through deductive methodology, sounds like blaming reality for the failures of the methodology and its proponents on everything else. Hence why so many in the so called free market camps inability or refusal to acknowledge AGW, because it completely repudiates its core premises.

          • “Markets are creatures of state laws post facto…. ”

            No. Seriously, NO. Free markets are the purest form of democracy — imagine 7 billion people around the globe all expressing their desires and needs in real time, unhindered by the commands of some elite hierarchy? Markets are a voting system and free markets are pure democracy. And sovereign money – what a colossal joke. “We demand you use this (worthless) paper to transact in.”

            We are approaching a tipping point and the coming crisis all dials back to State intervention in both the economy and ‘legal tender’. I’ll be prepared. Will I give a fvck about those who ignore all the red flags (for years on end)? Probably not. It’ll be painful for all, but the pro-State ideologues out there (in particular) will get crucified and deservedly so.

          • No. Seriously, NO

            How do markets work without laws and enforcement thereof ? Without laws, there is no property, and no contracts.

            Free markets are the purest form of democracy […]

            No, they’re not.

            In a democracy, everyone gets – one – equal – vote.

            It’ll be painful for all, but the pro-State ideologues out there (in particular) will get crucified and deservedly so.

            I’m sure when the thugs come with guns to take all your stuff, you’ll be revelling in how “freely” you were able to negotiate the transaction.

      • Agree. In the post-war progressive era the CB was a subordinate bond marketing department of the Treasury (as it should be). It was the right wingers who handed the keys to the CB technocrats.

        • The so called right wingers were just useful idiots for the corporatists, which gets right back to my original comment: some thought the Powell memo was to weak in scope and called for a more aggressive and dare I say anti freedom agenda E.g. raw power and monies deployed to groom and establish a dominate group think which would provide multipliers across generations.

          The demise of CB’s correlates with becoming staffed predominately with the product of this endeavor, as well, the political sphere, even with Bernanke’s issues he did front congress and basically put it out there that the polies had the power to issue funds outside the freemarket dicta of IR only hand washing … response was seat squirming, staring at the ceiling, or bathroom break.

    • What if that massive inflation is in the cost of the most basic neccessity? Like housing? When does the revolution start here?

      • If prices are administered post raw imputs its not inflation in the QTM of money sense, its flip side is wage stagnation, something that’s been happening since it diverged from productivity, but we know whom pushed that agenda and why.

        • I agree Skip it’s wage stagnation that is the big problem today and the share of profits and productivity, not being shared by those who produce it, but those that sit at the top and syphon off the good bits for themselves.

      • “Who is John Galt?”

        A fictional character in a novel written by a cult leader with good funding benefactors and a bad drug habit too, part of the push for the neoliberal agenda to frame everything in atomistic individualism with a side of rational agent models as processed by the anti government [social] free market ideologues.

        • Before criticising, remember Ayn Rand’s formative years. I believe that The Fountainhead and Atlas Shrugged would be extremely threatening to the Xi dictatorship and a force for freedom if available for the general populace to read in China right now. The meaning and worth of things can be understood in historical context

    • Capital Appreciation

      Yes, indeed it is. Suspect you’ll need deep pockets. I think they wanted around 1.7-1.8 million for it last time after it failed to sell at auction earlier this year. I just don’t think there are that many buyers looking in that price range at the moment, and there’s a bit of supply in that range too. The agents know it too, hence why they’ve gone the ‘by negotiation’ route and not auction, and belle property love going to auction (even a second auction)!

      • Thanks for refreshing my memory! Definitely out of my price range even if the owners’ expectations have moderated a bit… be interesting to see how it goes.

        As I noted yesterday, agents have been pursuing me (a genuine prospective buyer, although not of this property) with a bit more vigour than in the past, which could indicate they are struggling for sales, but probably just reflects that I am trying to be slightly more human / friendly to them myself 😁

        • The Traveling Wilbur

          And you feel the need to be remotely civil to some skilless, uneducated, soulless-ghoul who wants to take thousands and thousands of your hard-earned dollars for the simple task of unlocking a door and allowing you to walk through a doorway into a house that neither of you have any connection to because?

          • Good question Wilbs. Obviously as an anti-social housing bear my strong instinct is to be snarky and surly to blood sucking spivs. However the fact remains that eventually I will be in a negotiation with one or more of them, and it doesn’t help me if they hate me. Get chatting and sometimes they let slip things they shouldn’t and sometimes they need to screw the seller to close a deal. If I am friendly to them and also firm and competent it might just save me a few grand at the pointy end.

            Anyway I can fake being friendly to them, just got to work on the rest! 😁

          • The Traveling Wilbur

            Good answer A2.

            You’ll go far you will.

            Once you can fake sincerity you’ve got the rest made.

          • Well, coming from you that’s high praise Wilbs. I read and value everything you write, immensely so in fact.

            And sincerely. 😉

          • The Traveling Wilbur

            And I love you too. You dirty old basrtad.

            Just make sure there’s no fckn creme dé menthé in the box next time.

    • We had a ‘marquee’ property sell here in Brissy over the weekend for $5.15m (one of the highest sales prices achieved for any Resi property in this town in 2019). Average price for high end Sh1tney and Hellbourne, I’m sure …

      … however, I was amused by the contrast in comments between agent and vendor. The agent, Matt Lancashire, declared it a great result and claimed it portended a blockbuster 2020 while the vendor himself said he was a bit disappointed by the price achieved!

      Given the vendor could have set a reservation or refused to negotiate one wonders whether they were forced sellers?! Perhaps they are just realists …

    • Agree with the observation that the vast majority of people in uncertain times will be drawn to strong authoritarian leaders to resolve emotional conflicts and find the whole Trump thingy similar, so whilst he carries on like a pork chop on Twitter, to his followers, he simultaneously guts all FinReg, Labour rights, Environmental laws, Privatizes more of society, et al and spends 300M+ on golfing ….

      Lmmao …. the guy pardoned Scooter Libby, Dick Cheney’s guy ….

    • We have the Maxim guns and will use them to defend our house prices………….there is no getting off this hamster wheel until we run into the brick wall……it is what we humans do.

      http://www.anthropocenemagazine.org/howmuchenergy/

      Our pollies are just fulfilling a need, they don’t see what else they can do in the face of the maths……just like all those billion mark bank notes and the QE of our times, they are not evil, just scared.

    • Yep. We’re fvcked.

      The priests and kings were supposed to intercede with the gods for rain. They were supposed to repel invaders.

      Since they were achieving neither, what need was there for such a governing class?

      Eh Scomo?

      • You think Morrison is the first in this long line of BSitters?? I know it is MB’s pet theme but like most thing written here these days is is complete BS. This MB pedalled, purely political, BS adds less than nothing to the overall level of knowledge.

    • Hey religion, guess what!

      “It’s got to be shrunk, and it’s got to be shrunk humanely. The way to shrink it humanely to start is to give absolutely full opportunity, full legal rights and so on to women everywhere and make sure that everybody has modern contraception and safe backup abortion. That’s just ground zero. If you don’t believe in that, then you’re just saying, OK, leave it to our great-grandchildren to pay the full price.”

      We’re fvcked.

    • A piece blaming the fall of civilisation on refugees, and you’re surprised to see it posted on news.com.au ?

  5. Had to laugh, Davey Warner saying he wished he could have faced Waqar and Wasim. Celebrate your tons you little muppet, but you need to pass Chris Broad before you get to play with the adults.

  6. Great Southern Land

    Ancedata: A tale of 2 vibrants

    Was unfortunate enough to have to duck in to a Chemist Warehouse in Western Sydney just now to get a script filled for one of the kids. Fairly unremarkable goings on in the aisles, except for:

    Exhibit A: an immaculately dressed and groomed Asian female in her 20s toting a shopping basket with multiple items, including infant formula and holding an ipad with what seemed to be an elaborate shopping list app with photos of what to buy which she would click on as she harvested the shelves. Clearly a Daigou shopper. Thing is, she couldn’t have been more polite as I tried to get round her in the aisle, then at the checkout as I had one script and one tin of shaving cream, she motioned for me to go ahead. Vibrant yes but: paying GST, exporting goods, polite and I’m struggling to get the prejudice side of my brain to find fault.

    Which brings me to:

    Exhibit B: sloppily dressed Indian male in 30s. Tobacco breath, small put belly. Initially encountered trying to edge past me in the queue to drop off the prescriptions using the standard tactic of “just pretend I don’t see the wh!tey and his cultural programming will prevent him from doing anything since he doesn’t want to make a scene in a shop”. Sadly me it worked, and I was now in prime position behind him to witness a very odd exchange with the Pharmacist. As best I could tell it involved the vibrant thrusting a wad of tattered scrips at the Pharmacist and then being told most were not PBS eligible the vibrant repeatedly cajoling him to ‘give him the PBS price’ os some such. Needless to say it really stuffed up the smooth flow of the prescription assembly line and I just thought – WTF are you here for other than to gouge the PBS/welfare system and to make this overcrowded living hell of a city an even worse place to live in?

    If we are going to drown in vibrants, can it please be the former?

    • I must confess my thought is that if we can establish a reason to import people – and I dont think we have gone anywhere near doing so – then the average Chinese immigrant is pretty much what you want. They are generally polite (though possibly not amongst themselves) tend to work pretty hard and just like a nice quiet neighbourhood.

      I have a guy about 5 doors up from me in Geelong, a Chinese immigrant – one of those who did a runner after Tienanmen Square. He bought about the same time as me, having sold out of Mitcham. He tells me straight out that the Chinese coming here now are very different, and thats why he moved out of Melbourne – to get a bit away from them. He ran a photo processing shop which morphed into a picture framing joint up in Mitcham (just down from Box Hill in Melbourne), and somehow managed to raise a family (with his Mrs – also a Chinese migrant of about the same vintage – doing 25 plus years as a nurse). Their kids are everyday Australian kids – follow the footy, like their computer games etc, try and do as well as they can at school. He told me the older Chinese migrants are often referred to in dismissive terms by newer (and he says much wealthier) Chinese migrants and he is rabidly anti CCP and says straight out he knows there are Chinese security types doing the rounds in suburban Melbourne.

      I dont want large numbers of migrants of any nation – unless it can be clearly established to public satisfaction that there is a significant economic basis (not just juicing GDP stats but seriously broadening and diversifying the economy) for bringing them here. But I do also think that in some cases the generalisations about ‘Chinese’ or ‘Indians’ miss a significant number of quite decent people who get the types of points made here at MB about ‘population ponzi’ (I have put this guy onto the term and he tells me he is now mentioning the expression to others because he ‘gets’ it) and want to contribute to pretty much the same things we ‘skips’ want – better lives for our kids, a meaningful competitive economy, a bit of liberation from ticket clipping vested interests etc.

      • Gunna 100% agree with you on this. My first best friend in primary school was an Indian kid. I’ve always had kids from different backgrounds as friends at School and today. But I do have problems with certain ethnic groups and attitudes.

        If they are True blue in attitude I don’t care where they are from.

      • The Traveling Wilbur

        Please repost this every couple of months – it’s the only persuasive (to the non-informed) message that any MB rep has posted on this subject. Ever.

        Other posts might have been more eloquent, longer, spelled correctly or even just more appealing to some, but none were more absorbable by the unaware and ‘woke’ than that one. Keep hitting that line and length and MB will be the doyen of the western media. Hey, it’s already moved the 7:30 report. They even mentioned the population and 400k words. I was flabbergasted.

      • 100%
        There are those who assimilate beautifully and those that don’t. The more recent arrivals – part of the turbo charged cohort – I have doubts about. Most of the Asians who have lived in our local area for a long while keep beneath the radar, and are an excellent addition to the community, generally, but the more recent (last 10yrs) cohort are all AMG Mercedes, Prada sunglasses, get the f*** out of my way, peasant, types. And it grates.

        It’s too much, too fast, too many black dollars flooding in …. all in a short window.

        • On the one hand, you complain about the rich being arseholes to the poors (and the above is but one example of that), but on the other hand you subscribe to a belief system that, at its core, says the rich should basically be able to do whatever they want so long as it doesn’t directly, physically harm anyone.

          A+ cognitive dissonance.

    • oh please. You encountered a greedy person in a happy mood with her loot.

      One culture has been oppressed from property rights for decades and now overcompensating with their materialism, the other all about family and community. I know which I would prefer.

    • SnappedUpSavvyMEMBER

      I wouldn’t get too taken in by fake Chinese politeness that dago is just hoping you’ll stay out of her way. They don’t want anything to do with white pigs. That said neither race assimilates well and at the rate were importing them they won’t have to assimilate cos we’ll be nothing but some kind of historical course at one of them fake unis

      I’ll just add, I’ve had freshly arrived mainland Chinese ( all 3 generations in one house with the dawn chorus provided by the grandparents which has to be heard to be believed) neighbours for the past maybe 9 months or so and they refuse to acknowledge me or my family, it’s bizarre, on the footpath the other day the mother and her two kids pretended we weren’t walking past them, it’s just straight out strange, I hate em but my wife says their just settling in… wtf

      • Great Southern Land

        I have zero doubt that both groups regard me as a wh!te pig, as does the other major migrant group in these parts – the middle easterners.

        I have had enough experience tooling around the vibrant stuffed zones of Sydney to know a death stare / look of contempt / non verbal ‘WTF are you doing in this neighbourhood?’ when I receive one and on this score the FOB races are equivalent: they all do it to me, most of the time.

        My point is that hoping sense will prevail and Scummo will turn off the migrant tap is futile. His economic numbers are so close to crashing that it will never happen.

        So, if we are going to be crammed full of people I do not want to be here, I say that I would prefer it be ones who outwardly show some civility and courtesy as the Asian female did. What she really thinks of me, be damned.

      • Give them some ‘Free Tibet’ flyers with a side garnish of ‘Hands Off Hongkong’…

        Depends on how much you want to troll them, but a white van with CCP police insignia would strike fear to their husky hearts!

    • SnappedUpSavvyMEMBER

      I just want to add another point, as usually when I post something like above the usual wankers will post something like now you know what aborigines went through or some self righteous garbage. The irony being the Australian aborigines will be the biggest losers out of this mass immigration experiment being forced upon this country. The Chinese and Indians will have absolutely zero sympathy for them

    • reusachtigeMEMBER

      Hey I have the same prejudices as you! I love Chinamen ladies, often, but find Indians are a bit poorly perfumed for my liking.

  7. Michael Bloomberg, Presidential Candidate, Just Killed the Bloomberg News Agency:
    If you can only report in one direction, you’re not reporting in any direction

    By Matt Taibbi.
    https://www.rollingstone.com/politics/political-commentary/michael-bloomberg-presidential-run-2020-news-journalism-media-bias-918323/

    I was going to copy pasta something, then I couldn’t choose what. Just read it. It’s about Bloomberg News openly declaring that it will not provide critical coverage of Michael Bloomberg or the other Democratic nominees. It also tips into Fox for having the same policy but for the other side. It’s bleak, it’s now, it’s everything you want with your cup of coffee.

  8. Anyone else see a gaping chasm in the narrative?
    https://www.bbc.com/news/business-50598507 (record black friday sales) https://www.theguardian.com/environment/video/2019/nov/29/what-is-the-green-new-deal

    Klein understands the failings of consumption both environmentally and socially as well as anyone, but still the Green New Deal is still looking a lot like environmental Keynesianism with embedded high growth urbanisation and the rolling biodiversity collapse baked in:

    “Still, there are lingering contradictions to the radical Green New Deal strategies themselves, related to their emphasis on economic growth and capital accumulation. The constraints imposed by the need to stabilize the climate are severe, requiring changes in the underlying structure of production. Nevertheless, all of the current Green New Deal proposals largely eschew any mention of direct conservation of resources or cuts in overall consumption—much less emergency measures like rationing as an equitable non-price-related means of reallocating society’s scarce resources (a fairly popular measure in the United States in the Second World War).42 None consider the full level of waste built into the current accumulation system and how that could be turned to ecological advantage. Instead, all of the plans are based on the notion of promoting rapid, exponential economic growth or capital accumulation—despite the fact that this would compound the planetary emergency, and in spite of the fact that the real successes of the Second New Deal had much less to do with growth than economic and social redistribution.43 As Klein cautions, a Green New Deal plan would fail dismally both in protecting the planet and in carrying out a just transition if it were to take the path of “climate Keynesianism.” https://monthlyreview.org/2019/11/01/on-fire-this-time/

    High growth Urbanisation; Population Denialism. They are a huge blind spot for the current green movement, who are focused on ideology of equality to point they are putting real science and real data in the bin.

    • Yep. the Greens are conflicted every which way. The only surprise is that the movement hasn’t collapsed, wholesale.

      They are basically stealing votes from Labor while themselves not really standing a chance or campaigning on any platform that is remotely credible.

    • Anyone else see a gaping chasm in the narrative?

      You’re right. If a completely functional and 100% successful plan can’t be executed all at once, nothing should be done at all.

      High growth Urbanisation; Population Denialism. They are a huge blind spot for the current green movement, who are focused on ideology of equality to point they are putting real science and real data in the bin.

      So your complaint is… what ? They should be more open to the idea of pro-actively knocking off a few billion people ?

  9. There is a lot in this piece.

    I have two kids. The eldest has done a 5 month stint and a six month stint in Russia after spending the first 5 years of his life there. My daughter has done a 5 and six month stint and is currently there on an 8 month stint. I send them along to Russian school every saturday morning.

    But the education system tells me there is nothing they can do to help me keep these kids languages

    Australia has been called ‘a graveyard of languages’. These people are bucking the trend
    https://www.abc.net.au/news/2019-11-30/language-loss-and-revival-australia-tongue-tied-and-fluent/11736450

    • My daughter eventually became more or less fluent in German through a combination of school, saturday school, a tutor, and a stint in Germany. The most important thing was the tutor, they just gasbagged on in German and she learnt it without noticing.

    • Stewie GriffinMEMBER

      I grew up in a regional country town with a large Italian population – we occasionally would have Italian scholars come out from Italy to study the particular Italian dialect that is now extinct in Italy.

      • matthew hoodMEMBER

        I had the same experience growing up as a kid. The funny thing was we had to learn Japanese at school because half the kids could speak Italian and the other half could swear in Italian.

    • I consider myself very lucky to have done five years of French and Latin at high school, although I didn’t realise it at the time. I’m not fluent in anything but I did a couple of years of Italian much later which were helped by this background. I have to say that this same background has aided me hugely over the years in my general understanding of our own wonderful, much-abused language.

    • The Traveling Wilbur

      Good on you – she must hate you for ruining her Saturday, but it’s worth it. If the chatter in the house isn’t non-english and a parent is ‘non-english’ then language school it must be.

      (now if you mean for more than conversational ruski I’d have to ask why?)

      And it’s ALL non-english chatter in this household.
      And no, before you ask, not a single sentence.

      • Believe it or not neither of my kids have ever batted an eyelid about the Saturday classes. My son wondered why he was doing Russian up until he did his first trip back when he understood that he can chat with relatives and make friends there. From that point he has got it. My daughter (over there at the moment and doing school, while doing kids angliskii sessions for them) has never quibbled.

        The reason I want them to have better than conversational Russian is that Russki is the lingua franca of a large part of the world. On top of that if they (depending on what they decide to do in life) want to slip into the Russian university world then they can. Russia tends to have very good maths and sciences courses – and I tend to think the future needs maths and sciences of the type unlikely to be churned out by the Australian education system. The University costing much less there, there may be a further upside.

        • You obviously have strong connections to Russia – I don’t, and am no friend of Putin. However, whatever you think of him, he strikes me as being more statesmanlike than any Western politician I can think of, and, irrespective of the Russian State’s position on homosexuality etc, Putin comes across as reasonably bright and certainly has a grasp of geopolitics that casts a shadow over his Western contemporaries. His best asset, however, is his grasp of economics – which is vastly superior to those who are currently dictating policy in Western hierarchies. I think Russia, economically, could be a force in the years to come because of the foundations being laid currently by Putin.

  10. OK cvnts.. Last night had dinner with friends and o e who is working on building jobs just dropped the big news which explains lack of tradie Utes on the roads. Almost 30%of the his co-workers been sent on 8 week unpaid leave. Only one resigned as rest could not find other jobs. Apparently rest of the competition is in same situation.

  11. Mining BoganMEMBER

    So, something I’ve seen mentioned…are banks going to ask us to pay a fee to not have our savings rate go negative? Kind of a it will be -0.25% on a savings account or charge say ten bucks a month to keep the rate at 0.0% so it doesn’t look like savers are losing money…apart from the ten bucks a month.

    Negative rates are coming. Soon.

    • That’s the only way I can see it being palatable, and the burden not put on the wealthy e.g. negative rates for those with > $250k.

      I’ve heard banks only let you take $5k out at a time now without pre arrangement. I guess that’s to stop a slow run on the banks because I reckon if they start charging all account holders, us plebs will withdraw our small savings.

      • I’ve been stock-piling cash for this reason.

        It’s coming.

        And here’s my address for those interested:

        Get Fvvvvct !!!!!!!!!!!!!!!!!!!!!!!!

    • Great Southern Land

      https://www.itnews.com.au/news/negative-interest-rates-threaten-to-choke-bank-it-systems-534142

      As of last Friday, all of Australia’s Big Four banks have essentially conceded they would struggle to make their transactional and mortgage systems cope with a switch to negative interest rates, with their CEO’s confirming a rapid testing is now underway to model the consequences of a flip.

      In what is shaping up to be a new Y2K moment, chiefs at the ANZ, CBA, NAB and Westpac have all confirmed they are war-gaming the implications of trying to enter negative values into systems that were only ever coded to process positive interest as rate cuts increasingly lose their effect.

      A zero rate plus account keeping fee model would seem to be a better way forward, at least for this reason.

      Premium customers would get a discount/fee free service as happens now if you qualify for a personal banker. The only thing is that the ‘premium’ customers will now be those with the low balances!!!!!

      Anyone who thinks that this will end well is a fool.

  12. Gitto posted a pretty reasonable piece last night……..

    For mine the dynamics he has outlined are about right insofar as there is an obvious disinclination by the RBA to go down the unconventional route, and they are obviously after the Federal Government to let go of the ‘budget surplus’ mentality and start spending on the economy.

    I think the RBA is wary (er) of unconventional here in Australia because there are issues with the Australian economy which could easily mean that QE worsens things here in ways it hasnt done overseas. The Balance of Payments, Current Account, and one dimensionality of the economy all point that way, and the uber private debt level, mainly funneled into real estate, of a workforce which is generally not price competitive with like functions anywhere else, all factor in issues which havent really been par for the course with QE elsewhere.

    On the government side that ancient ‘budget surplus’ ideology still reigns. The question for mine is not so much when they let go – but about whether when they let go they try and feed the big end of town primarily, and hope this trickles down into jobs/wages growth/a happier electorate generally, or whether they go straight to the electorate. But for sure the longer they hold off the more profoundly unpopular they will become and I think that just 6 months after winning an election they are about as unpopular as I would have thought possible.

    RBA’s Lowe offers no let-out for PM as he hoses down QE, business as unusual
    https://www.smh.com.au/business/the-economy/rba-s-lowe-offers-no-let-out-for-pm-as-he-hoses-down-qe-business-as-unusual-20191128-p53eya.html

    • This is all just oplain 100% screaming nuts!! Gittins is saying that nothing matters except to keep the consumption/debt train rolling. The government should start creating debt to pump money into the economy, which act itself creates more REAL debt through increased consumption. Nothing changes unless we create a more productive economy that is self-sustaining and not dependent on foreigners lending us money or buying up every worthwhile asset we have. You will note that in any statement by the RBA, the government, Evans or Gittins this little factor does not rate a single mention.
      WF does it really matte if the BA buys in the secondary bond market or straight form the government? It is pumping money directly into the bond ‘market’.

      • GunnamattaMEMBER

        Mate I agree with you on the need for economic diversity – no doubt. I dont for a second think that was what Gitto, the RBA or the government are particularly focussed on. They havent been for fifty years so why would I expect them to be so right now?

        But I read the RBA comments last week, and Gitto’s reporting/opinion related to this as.

        The consumption which has marked 50 odd years of economic driving is gone. Tapped out. The RBA is telling anyone who will listen that it is gone, and that the very last interest rate cut (which i think could come this week) isnt going to do much – the reason I think it is a chance this week is because I think the economy is already in recession, the RBA have one tool to play with (interest rates) and I think they will use that tool once again (if not December then February). I think they are clearly stating that unconventional monetary policy is unlikely to do that much – I tend to buy that, I think it will possibly sink the currency, but there isnt much in Australia to provide traction on a rebound in economic activity due to increased competitiveness of assets in Australia, using Australians [as you and I would agree, we have divested ourselves from that field], I also think there is Buckleys chance of some foreign investment coming suddenly pouring in to use skills or attributes of Australians to generate jobs and wages by making things or doing things which all of a sudden are in demand somewhere else and which the somewhere else will pay us for {in sufficient quantities that it will give us meaningful pay increase, provide better jobs, or sustain demand) because the ‘framework’ of the economy is about sustaining a real estate speculation economy though tax avoidance, levering off mining/agriculture production and offshore sales, and using that to sustain demand. They are looking to Government. That for mine is plausible enough, their job is demand and monetary policy, not mapping out changes to the macro economic structure of the place [I agree with you they could/should/would have been far louder in their observations on the economic structure long before now – but they havent – but their first priority is demand in the here and now].

        Government for its part is wedded to budget surplus. OK that may be a plausible position. But, as I dare say you and I would again agree, that focus implies a lot of economic pain on the most heavily indebted people on the planet, who are still paid wages considerably superior to those they may be getting offshore for like jobs [in most cases] and who as a population are up to their eyeballs in the worlds most expensive real estate, the prime beneficiaries of who are into tax avoidance, and channeling the acquired ‘entitlements’ into endeavours which for the most part may be considered economically redundant unless the bubble goes on forever, and which at a macro level may be consider a misallocation of resources. As you and I would be in complete agreement that has been sustained by selling off national assets (farms, industrial production, mining and energy) and trashing once respected institutions (the Universities the public sector) in the name of a short term buck.

        I see Gitto’s piece as reflecting the short term dynamic. The RBA is in the car with no brakes, sputtering and with limited scope for acceleration too, motoring towards the cliff at a reasonable clip. They are saying the road leads off the edge. The government in the passenger seat is looking at a map marked ‘fairy floss consumer sentiment led neo liberalism’ saying ‘just keep going’. The governments job is to identify the change in direction required.

        The immediate short term issue is does the car change direction to even try to avoid heading off the edge, does it have enough speed up to clear the gap, should it get up some more speed?. The RBA is saying the road is at an end, and the gap is right ahead. What they are really saying is ‘do we want to be in a car accident?’ (admittedly one which they have been a major part in creating). The government is saying we will jump the canyon as we are.

        I see your regular points (most of which I agree with) as revolving around the ‘should we be on this road?’ type. But as an inhabitant of the nation which has been on this road for a generation or more – and who doesnt think we will avoid going over the edge from here, and that great pain will ensure – we are at the ‘where is the road? did we just crash through some barriers?’ Aaahhh! Faaaaaark!’ end of proceedings.

        I think it is a bit late for the ‘why are we on this road’ line of thinking – though I entirely agree that the real implication of what people like you and I have been babbling about for a long time is only just dawning on an awful lot of people, and it would have been better all round if we hadnt taken the road. But we have, and within the limitations of the context we have right now, I thought the Gitto piece was OK.

        • “They are looking to Government.”
          That is the point Gunna. MB has a meme of calling Morrison et al scum because they want to run a surplus. Gittins is on the same page. Somehow they all think that the Govt running a deficit and handing out more money will fix the problem- and it doesn’t matter where – just hand out more money.
          From a macro view there is stuff all difference between the Govt running a deficit and creating Bonds that the RBA buys (directly or indirectly) and the RBA running negative IR’s. Unless the government spends directly, in a very disciplined way, towards long term productivity( which is not in ANYONE’s plan here in MB) then any money created one way or the other goes into consumption – directly or indirectly that is where it ends up.
          The current economic stupidity has to be abandoned. That is the only way out. Keating squibbed on it 35 years ago – presumably because he saw that it had become politically impossible to reform. So he embarked on the super-charged debt creation process that had been well set in motion by previous Liberal Governments.
          Reform, and policies directed at REAL reform, are now many times more difficult/politically impossible than they were when Hawke and Keating came to power.
          The writings of Gittins, the RBA speeches, the Bill Evans newsletters, are all just acidic dribble designed to get in the eyes of anyone who might tend to wake up, and to wear the nation away, until the authors can get off with their RE gains and comfortable Super.

          • GunnamattaMEMBER

            The current economic stupidity has to be abandoned.

            My guess is it will be abandoned by those getting out of the wreckage of a crashed economy.

        • Nah!!! They’ll have it organised. The economy will go on just benefiting less and less people. There is an alternative elite but they think they are so much more clever than all the rest of us while at the same time being more ‘caring’ They scare the crap out of me.
          Maybe I’m having a bad day!

      • The Oz economy is in a vertical nose dive (for all the reasons Flawse and Gunna go through).

        It is now very clear, the LNP has no intention of changing any settings to try to level it out.

        I now think that the LNP and its sponsors (IPA, Gina, etc.) are happy to see this happen so they can bottom scavenge and pick up even more assets cheaply. Ie. a deliberate decision to shatter the economy to suit it’s paymasters.

    • I love the consumption fairies, that flit about and bring back the trees and birds to our suburbs, unwinding the biodiversity collapse. Consume, and the fairies will cast a spell to rebuild your dirty broken burning world.

  13. Rorke's DriftMEMBER

    Went to an auction around the corner from me this morning in inner west Sydney. Just for glimpse at the state of play, not buying this market.

    New duplex development with 4bed (2 + 1small + 1 study size), 3bath, but no parking, minimal storage, tiny laundry in a cupboard and one combined kitchen living area of suitable size for a 2bedder. Nice finishes though with a small backyard. On main road. Typical development designed to sell, not to live in.

    6 parties turned up (plus me). Three asian looking. 1 western guy on his own, late 30s maybe, the only one with a paddle registered to bid.
    That was telling in itself that the asians weren’t bidding. The anglo bloke had it all to himself. So what tactics did he use?

    After the auctioneer struggled to get any energy into thing, it was obvious this was going to pass in. But bugger me, the anglo guy called out a bid. “165”. Gee, that sounds a bit high I thought at $1.065m. No, the Auctioneer confirms back $1.65m. Wtf?. He’s obviously the only bidder for this, the developer needs to shift it and he bids high!. So what does the auctioneer do? Puts in a vendor bid of course of $1.705m. I.e. a bullsh!te false market is created against one bidder as a price discovery process. So instead of walking out in disgust at the game as he should, the bloke goes and bids up another $10k against the vendor bid. Wtf?. Not a 1k increment but $10k. Is this a joke.

    So waiting for the hammer to fall on the poor bloke having been gamed in the charade, the auctioneer passes it in!. Wtf again. You’ve got one bidder, you’ve maxed his offer, the markets telling you the floor has to be somewhere below his first bid as no one came in higher, yet you pass it in. Unbelievable. If that guy gets negotiated up further he’s an idiot.

    Just a completely false market created that can only exist because of vendor and one seller expecations in their heads from a decade plus of bubble prices. I don’t care if other similar properties in the area go for high $1s or $2m. An auction places the market right in front of you and there was no competition. I’m a very experienced trader in financial markets and you can just feel there is a vacuum below current pricing that only needs a catalyst to whallop price expectations to a much lower plane.

    • I know the legalities would be questionable but hard to prove maybe. Could the boke have been a plant? OTH I have seen this at an auction around GFC time. Bloke was genuine – obviously got a job in the mines at high pay which hadn’t improved his nous.

      • Rorke's DriftMEMBER

        Hadn’t thought of that, re a plant. Maybe. But why bother when the vendor can put in a vendors bid and pass it in at that level without any other offer. If you weren’t at the auction you wouldn’t know he bid. He probably thought he was getting a bargain and so was trying to close it with the vendor. I don’t really know the comparable prices in the area, but just looking at the pricing unaffected by recency of other benchmarks and just considering the price versus value for what you get and shaking my head at the whole process.

      • Great Southern Land

        New build = developer likely to have a non bank lender with one foot on his throat and the barrel of an SKS in his mouth = every reason in the world to try to get a high ‘passed in at’ figure by any means. Plus, a lot of people would not buy a newly built anything of any size at the moment.

    • You have to wonder if there Isn’t something shady going on. Was the guy working with the agent to create a false sale at a false price point when the place would have otherwise passed in?

      • Rorke's DriftMEMBER

        Ok, you guys are a suspicious lot. Got me researching. Dummy bidding is illegal, but the fine is a maximum $55,000 for the bidder and can be be another max $55,000 for the seller if both caught and proven. So basically a low risk consequence versus the additional margin on the house you’re likely to get. Almost an incentive. Also you only do this as a backup in case no registered bidders turn up, in which case who is going to complain enough to get you investigated and how would you prove it.

        At the auction today it was ultimately passed in quickly at the end without the normal talking to the bidder or “going to get instructions”. The bidder was there on his own bidding on a family type home without any supporters around him for such a life purchase. The more I think about it, I’m thinking a dummy bidder. Haven’t come across that before.

        • Going alone is probably a good tactic – removes a lot of the emotion from the process, especially if the other half and the kids are really set on the place. Probably makes it harder for the agents too, as they don’t know what type of buyer you are.

    • Nothing surprising there. Do not underestimate the power of the Dark Side of the Force.

      After all, it is said that ships will sail around the world but the Flat Earth Society will flourish.

  14. Also gunna that picture is horrible.

    Can’t we have something nice like crying clowns or dogs playing poker?

  15. @Moderator
    Really??? We’re censoring music links now?

    Sure it was a bit edgier than my usual but Honestly what’s wrong with understanding where today’s young Aussie Rappers are finding inspiration? Is there really so much distance between the themes that TKO raps and those the MB writes? same sentiment just leveraging a slightly more up-to-date vocab.

  16. LOLOLook the other way they reckon!

    ‘It might not be right and it certainly isn’t pretty but the fact of life is that if we want to reduce our dependence on communist China, which blind Freddy can see is working hard to turn this country into a suntanned Finland, we are going to have to look the other way at a lot of stuff that won’t look too flash in a Four Corners report.’

    https://www.heraldsun.com.au/news/opinion/james-campbell/james-campbell-we-must-learn-to-look-the-other-way-on-china/news-story/853f81fe7c21800351cdbc090fc7c5eb

    • There has never been a communist state, its currently a capitalist state with one political party, tho there are divisions with in it.

      Contra the U.S. is a two party state that functions under one economic principle – Washington Consensus – whilst it diverges on social issues – fundamentalist religious, cosmopolitan, and regional preferences.

      • reusachtigeMEMBER

        Totally agree with the commie here. China is actually the ultimate feudal state where the extremely rich and elite control the masses and make them bend to their will. It’s only commie in name and would have Marx turning in his grave.

        • You know after the panama papers, post GFC 400ish billionaires and now 600 billionaires in the U.S. its hard to discern. Not that even here in Oz some LNP polie is on public record that all we need is a few more and things will be great …

  17. SnappedUpSavvyMEMBER

    Drove past Scummo’s office in Cronulla and all the lease signs are still up with only one very prominent shop open : THAI MASSAGE

    😝😆😝😂🤣

    It’s his economy so perfectly encapsulated

  18. Self flagellation seems to be the dominate meme today …. tis the giving season methinks … chortle …

  19. Anyone ever go on cruises?

    Missus and soon to be 8 year old daughter are going on a cruise in January. But the options seem to be overwhelming.

    Like data/drinks/etc etc.

    Any hints from experienced cruisers? (not you reus).

    • We did a three day comedy cruise out of Brisbane with the sister-in-law. As a first time cruisers, we thought a three day trip would give us a feel if we’d like cruising or not.

      There were many positives; the meals were fine. Considering they cater for close to fifteen hundred people plus crew a day, the nosh is good, plenty of options. We ate in the upmarket restaurant, was part of package and the food tended to be better. Kids were welcome. The ensuite rooms are comfortable, cleaned daily and they turn down your sheets in the evening. The fvcking Sofitel doesn’t do that sh1t and you pay a lot more to stay there! There were lots of activities (bingo, trivia, shuffle board and wasn’t that a boozy affair!), something always on and plenty for the kids including movie nights on the pool deck and also in-room movies. The comedy acts were fvck funny as well. As the drink package is not available on three day cruises (8 or more I believe), drink prices were very reasonable. $6.50 for a VB, $15 for a cocktail but be careful, you drink fvckloads and they make sure you do with ice buckets full off beer everywhere! God bless.

      Negatives, we went in school holidays, the ship departed from Brisbane and I swear every Logan Bogan and their sh1t kids were on that cruise. Most of the time it was their fat fvckwit parents who were the problem. As you have an 8 year old, they’ll have a ball in the kids club and pool etc. Not in a month of Sundays did we get into the pool.

      Recommend paying the extra for a room with a porthole, internal cabins are claustrophobic, no natural light. Also pre-purchase an internet data pack, they’re generally cheaper than the on-board one we purchased. Take sea sickness tablets, three days of constant gentle rolling may takes its toll. We were fine but it does take time to get your sea legs. The ships internals also can be disorientating, especially when you’ve had a skin full. Helped a couple of people and had NFI myself! Pick markers etc. Overall, we’ll definitely do another cruise, just outside of school holidays and will make sure it’s not on one of those cruises with crinkly old cvnts. Thinking of a Melbourne Cup cruise from Sydney to Melbourne as the next one.

    • I’m going on a Royal Caribbean cruise in a few weeks’ time. They have strict quotas on total number of children, wifi $15/night (not sure of quality). Drinks are pricey on all these cruises. If you want to get pissed it might be an idea to take advantage of the on-board duty free (only available on some longer cruises) and make your own drinks.

      Ignore the detractors that don’t like cruises. Treat it like a floating hotel. i.e. go to sleep and wake up at new destination. The key is to plan something at each stop. If there are two days between stops they will put on a decent play/comedy/musical.

      All-you-can-eat (including very nice desserts) and lounging about all day a dangerous combo. Plan a few kms walk every day, on the top deck if you must.

    • Great Southern Land

      I did an 8 day one about 10 years ago post divorce with 3 mates who had been before and egged me on and because curiosity got the better of me. I was sure I would hate it and took umpteen books and had a plan B to fly back from the first port of call.

      In the end I loved it and the average time spent in cabin over 8 days was 3 hours out of 24 (I sh!t you not). Managed to get off the cruise 0.5KG lighter than boarding but damn, that took the willpower and moral courage of a saint and pounding a tiny running track every morning feeling like death.

      Food was great, not 5 star but good enough for my rough taste. Had to be so diligent in not having 4th’s of dessert as was the norm. Absolutely NOTHING ran out and it was literally eat till you drop and most did.

      Most people remarkably well behaved, but that was more true of the entire country back then. Now, this was in the wake (no pun) of a passenger death from drug / drink spiking or some such a few years prior that made all the press. The message was clear that there was zero tolerance for bad behaviour. That said, the security (all Filipino ex military by the looks) were very hands off, very friendly. Was very politely requested not to take drink onto dance floor – no dramas.

      The funny thing was the cruise director – at first you think this bloke is a bit of a galah but you sort of bump into him and his underlings though the week and come to realise he is absolutely flogging himself to make sure everyone has a good time. I chatted to him at the end and thanked him personally.

      Slight issue with people reserving deck chairs with towels and going off for hours was solved by getting up at crack of dawn and hitting pool after running laps and just denying the hangover. Who here can’t muster the strength to fake that a few days in a row?

      If format is the same, there is at least one formal dinner so I took the advice to take a suit – they don’t enforce it but you just look and feel much better to dress up a bit.

      Don’t really know what to do about drinks – I had been told they x ray your bags and the story is that alcohol will not be allowed in large quantities. Even the soft drinks really add up. Take all the medications, savlon cream, bandaids, heat packs etc etc you can muster – the on-board Doctor is like $300 and a Panadol costs about $16 for a box or something.

    • I don’t know why I’m torturing myself watching with possibly the most boring game in recent memory. The VB’s are helping though.

      • Mining BoganMEMBER

        I’ve been watching Mark Steketee torment the Tasmanians. He’s got to be one of the most improved bowlers in the country.

        • I think it was skull putting wraps on him yesterday?

          Anyway one of the commenters was going off about him as a dark horse for the test team.

          • Mining BoganMEMBER

            I watched him play the Vics at Junction Oval a coiple of times early in the season and it looked like he has gained a yard in pace over the off-season. Him and Neser bowl very well together.

  20. My pending Christmas present from Mrs Nut; Sh1t towns of Australia: the book.

    On Coffs Harbour: They are fiercely proud of their city, despite it lacking any points of interest beyond a big yellow dong, a highway with 700 sets of traffic lights, an NRL scandal and a legacy of birth defects from toxic pesticides. Coffs is a comatose beachside ghetto and cultural wasteland with nothing to do but truckloads of meth.

    On Gosford: The poo in the Cenny Coast’s crown is Gosford (short for “Godforsaken Hellhole”), the area’s derelict CBD. Full of deros, druggos and dole bludgers, the epitomical sh*t town is commonly referred to as “Mount Druitt by the Sea”, “Sandy Parramatta” or “Nautical Campbelltown”. Popular activities in Gosford include asking strangers for cigarettes, spray painting your name on a train or keeping your pants up with a length of electrical cord.

    On Sydney: In many respects Sydney is actually a bunch of sh*t towns loosely amalgamated into a giant, sloppy, steaming sh*tropolis.

    On Wollongong: Aside from general violence and disrepair, Wollongong is famous for its beaches, which is fortunate because any length of time in town will leave you with the overwhelming desire to walk into the sea. Unfortunately, said beaches are all massively polluted by both local litterbugs and Port Kembla, the city’s primary cancer complex and coal export/heroin import docks. Wollongong features two lighthouses, each as sh*t as the other: Wollongong Breakwater Lighthouse, which doesn’t work, and Wollongong Head Lighthouse, which looks like a giant tampon.

    https://www.news.com.au/travel/travel-updates/the-towns-that-made-the-cut-in-the-sht-towns-of-australia-book/news-story/c0b17de6e8af52a330351f6230cc6bfd

    • Banana ManMEMBER

      FYI Chook Norris still MIA. Having a siesta today I was awoken to the familiar tap tap tap, so there must be a new contender. Goannas still trashing the place, wrangled a python for the first time last night, had to get it off the road. They are awesome. Not like some of the things around here.
      It’s interesting to note that no matter how far you go, you will always have neighbours and opportunistic thieves.

      • I went to Armidale from newy the other day, there was a turtle halfway across the road and I chucked a uey and put on the gloves to get him to the other side (with predictable stinky results).

        When we came back the same way, we saw a turtle-shaped stain on the road, depressingly.

  21. Have just made the most delicious pizza sauce using my own basil and oregano.

    Sweat onions in generous splash of olive oil on about 4 (not too hot) add crushed garlic, fresh herbs, cook till onions transparent, add dried herbs if you want then chuck in passata, crushed tomatoes and maybe a pot of tomato paste, chuck a cup of hot water and a couple of vege stock cubes into the passata bottle, mix up, chuck into pot.

    Simmer then wand process on fast, simmer a bit more to reduce down.

    Enjoy!

    • The Traveling Wilbur

      Tomato paste out of a pot (plastic tub) is siht.

      Use a squeezable metal tube variety product. Costs more. Not bitter acidic. Tastes better. Last longer in the fridge.

      You can thank me later.

      Mostly by not posting any more vegan propaganda.😝

      Or, just a thought, you could grow your own tomatos and make your own paste/purée.

      Just a thought.

      It’s not that hard.

    • The Traveling Wilbur

      It’s alright I know you want me really.
      Like how you want this:

      🍆

      Done slowly. 😂

  22. You’ve been seen LvO.

    WTF is with the Bindi stuff?

    I am at the launch of a discussion paper by Sustainable Population Australia, a group that advocates for a “significant decrease in net immigration” https://t.co/28A5neNc0M

    • Lots of population deniers shouting ecofac8sm. They’re getting more and more hysterical as the gap between science and ideology widens.

      • Sorry but the pro free market right wing ideologues are the ones that have a well established track record of anti science let alone AGW.

          • It merely means both parties abandon science when it is convenient to do so. I would agree that climate skeptics have done this for a long time. I’m not really interested in the sort of ego battle stuff that you confuse with discussion btw.

          • Not ego related but my statement stands on its quantification’s E.g. people or groups resorting to mixing the two in order to drive agendas have only themselves to blame. Blaming immigrants for the agency that brings them here and couching it in AGW terms is letting the agency off the hook, let alone highlighting its methodology for it.

            Might as well blame previous immigrant cohorts for initiating the labour rights movement, of which they did, only to have ridged ideologues take exception to their view of the “natural order of things” and then start playing with the Bernays knob like a spastic. I mean its not like years ago on this blog I pointed out most of the illegal immigration was flying in whilst the ideologues heads were on fire about boat people.

            My point is I think it would be better to keep the two subjects separate, furthermore if one wants to talk about economic matters, associated with immigration levels, that the machinations for it are discussed outside any ethnic sensibilities E.g. immigrants did not drive the economic paradigm which now some take exception too.

            Nor did they drive the environmental reduction that has been on going since Australia was colonized, seems banging on about the effects of past deeds, whilst ascribing all woe on the newest entrants is avoiding the key agency behind it all. Ignoring that does not bode well for addressing the foundations of how we got here and how to remedy it – rubbish in rubbish out ….

    • Those twitter threads are ridiculous.

      Being completely unable to play the ball used to get people laughed off the team. All it takes to make the team these days is being able/willing to throw the correct insults.

      • The Traveling Wilbur

        Yep. And I blame HR for that. Seriously. Biggest single contributor. That and ‘everyone must get a trophy’.

    • …based on thin volumes.

      I heard Martin North post something along those lines few weeks ago.
      in my view the factor is present always except that it improves accuracy with better reporting but it is technically the most accurate only if 100% of RE is sold on the day.

      How much does low volume affect the accuracy of home values?
      One could say that whatever the volumes, it reflects the value of the RE *on offer* (and reported) in 100% accuracy but it also has an aspect in terms of ratio to historical volumes for the season (a bit confusing, I hope it was understandable).
      To simplify, there has to be an accuracy band that changes with volumes (e.g. extremes: 1 home sold in the area under observation and 100% homes sold within the same period and position of historical volumes)

      • Problem for me is that I’ve been looking in areas of previous interest and not finding much that tickles my fancy. Very hard to find anything decent in the $700-900k mark.

        The nice stuff is all $1m+ when a year or 2 ago you could find decent stuff in the $900-$1.1m range. It’s all shifted to $1.3-$1.4m range.

    • I went to an auction last week (northern beaches) that was passed in and went unreported. There were a few attendees but only one bidder. Things fizzled out very quickly with no negotiations, so it was obvious the highest bid was well short.
      Wasn’t reported as passed in and quietly went up for sale with price range 100-200k above the final bid.
      I took a look on Wednesday and there were only 2 other people visiting. I got no idea who they think will buy this – anyone with a passing interest was at the auction and didn’t come close to their asking price.

      Yesterday another nearby auction must have passed in as it is now up for sale. Again, was not reported to Domain or REA.
      It might be wishful thinking but these could be signs of buyer exhaustion.

      • I think the bounce has brought forward demand. I won’t be surprised if prices fall from here. Since they have been pumped up after last interest rate cut.

  23. Understanding the ecofasc8st, (or alternatively, the new name anyone that questions extreme growth urbanisation is likely to be called). https://www.theguardian.com/environment/2019/nov/30/eco-fascists-and-the-ugly-fight-for-our-way-of-life-as-the-environment-disintegrates

    If you tuned in to twitter you will have seen the thoughtful (and anything but fasc8st) LVO being being peppered with this stuff after the sustainable Australia report. At the core of it is this: “Yet the argument that ordinary people, rather than social structures, should be blamed for climate change still circulates – and invariably pushes in rightwing directions.”

    It certainly feels highly ideological. Social structures to blame? Perhaps, but Is there any evidence to show that social structures have changed at all during the great urbanisation? Is there evidence to show that hyper-urbanisation is yielding the results the open border crowd want. Is there Evidence that ever more crowded westernised nations have shown restraint, or a tendency to less consumption? There is evidence of Increased consumption, evidence of the primacy of growth economics, evidence of increased inequality, evidence of biodiversity collapse, evidence of GW, evidence of increased factory farming, of increasing intense agriculture, evidence in the breakdown of social structures and institutions etc etc.

    The ecomarxist and the ecofascist. It certainly doesn’t look like the end of history.

    • My god that article is a steaming pile of sh1t. I think it takes the cake for worst article ever, even for the guardian. What a w4nker.

    • Mining BoganMEMBER

      He’s quoting some population numbers on Paris and Delhi that don’t look right. Paris at 8 million in the 60s. Isn’t it only 2m now? I’m guessing he’s mixing urban and metro areas to underline a badly made point.

  24. boomengineeringMEMBER

    Reminiscent of a stock market period before a depression, the roads that is. Oscillating erratic movements in volume and intensity. Yesterday it took 2.5hrs in congested traffic just to get to Blackwall Central Coast to view a house. Today on the bike, heaven, like a ghost town.

    • Mining BoganMEMBER

      Yep, as much as I’ve been banging on about early morning tradies disappearing over the last three months it’s the lack of traffic around 7pm that in the big change. Six months ago it was still peak hour on the major roads around my little island. Last week it was dead. Normally I’d take off from one set of lights and immediately be held up by the traffic stopped at the next set of lights 800m away. Thursday night there were eight cars stopped at the next set. That’s right, I was that surprised I counted them. That’s after I pulled straight onto the main road with not a car in sight where usually I wait a minute or two for a break in traffic.

      Something has broken.

      • Agree did my early morning jaunt to work Friday.Really quite .Was running late and ended up on time Next year is gonna be a shocker

        • Mining BoganMEMBER

          Friday morning was ridiculous quiet. Was five minutes early too. Yesterday morning at 7.30 the same.

          I am enjoying driving around much more. Might even be safe to pull the bikes out again, both pedal and motor.

    • If it’s like it was here, the roads were dead quiet yesterday morning, except around the shopping malls etc where the Black Friday Sales! that kicked off at 7 am saw massive congestion there, at the expense of normal roads. Just an observation, of course.

      • Mining BoganMEMBER

        Oh, I made sure I was well away from any shopping precinct yesterday. I fell for the trap Friday lunchtime.

        If I was a religious man I’d expect hell to look like a shopping mall.

    • Ha. Well it is high moral standard you set. That’s the great thing about not being racialist isn’t it – it means any other anti-social behaviour is instantly forgiven. A sprinkling of the anti-racialist fairy dust and it’s all good form.

    • Now that is open to all sorts of fvcking-around-with: from the ‘nonchalantly airing the merchandise’ to the flat-out ‘rubbing one out at the stop lights’.

      • Great Southern Land

        Oh sh!t – can these cameras spring you treating yourself to some light hand relief????? That’s fvcked it for me.

      • Reckon they’ll see some funny sh1t. Waiting at the lights, casually glanced over at this respectable, well dressed elderly lady who, at that very moment launched the index finger straight into her nose with the precision of a guided weapon, a good two knuckles deep. Laugh ’til ya fart I did.

  25. Interesting article on the problems with integrating PV (Solar generation) into the Perth Grid.
    https://www.abc.net.au/news/2019-12-01/rise-of-rooftop-solar-power-jeopardising-wa-energy-grid/11731452
    this is an issue of increasing concern for every Electricity Grid in the country, what do you do with excess Solar Electricity?
    Do you allow households to export power to the Grid that is just not needed? And what make it the grid operators job to store excess power?
    Do you force Voltage levels to increase locally until all the PV grid tied inverters shut down in a Grid Over-Voltage condition?
    Maybe the best solution is to force the Residential households Exporting Electricity to address the problems (but with what possible solutions)
    As is stated in the Article the real Electricity problem days of yesteryear were those incredibly hot days when every AirConditioner in the city was switched on at 5pm. The problem days with high levels of PV integrated into the grid are sunny but cool days. What do you do with this excess Electricity? Batteries only sound like a good idea because they’re full at the end of the first sunny but cool day. So what do you do on the second day? What do you do on the second week?
    The only solution (that I can see) is to create a layered approach to energy storage
    -day 1 fill your batteries
    -day 2 fill your dams
    -day 3 is when things get really interesting (logically you should look for cheaper energy storage solutions that will return only 30% of the stored energy) There are lots of these low efficiency energy storage, compressed air is an easy one (typically returning about 30% of the initial electricity) Creating Liquid or Gas fuels with reverse sort of Fuel cells also typically returns 20 to 30% of the initial electricity (typical fuels that people are looking at include Methane, Ethanol and Ammonia)

    Maybe we create industries that are optimized to use excess Electricity when it is available, Desalination is a good example of something that could be done.
    Maybe we all transition to driving Electric cars and snap up those unwanted kW’s …lots of possibilities but the thing is we need real world scaleable solutions within a decade and so far all we have is ideas.

    • The solution is dispatchable demand to absorb the supply. And more behind meter use – heat pumps and so on.

      • Ummm, how about sending your excess over the border, where people are already coming home, so the peak is in?

        Too radical?

        • Well that is a sort of a solution but it doesn’t really address the sheer amount of SolarPV necessary to truely go Fossil Fuel free. If we get anywhere near these levels of solar penetration than we’ll start needing more inventive solutions than to just “send it over the border”

      • Yep I’m a big fan of Demand side systems but even these systems have limited value when you get a week of mild sunny weather. How much hot/cold water can you possibly store and how well can you insulate that which you do store?
        Demand side control gets us some of the way but we’re going to need much more radical solutions to really solve this problem.
        Interestingly there are some Pool service companies that are creating Demand side Pool filter control systems. This seems like a silly idea to me because anyone with a sunny spot to fit a pool almost certainly has room for PV panels so it would be more logical to PV power Pool pumps directly and there are several companies working on Pool pumps that will run directly from a PVDC feed (usually using a Brushless DC motor and a MPP regulator) At the moment they’re typically too expensive and why do this if you can just dump your excess onto the grid?

    • Google has quantum computing the next 10 years will a new world we are monkeys now and its as big as house hold fridge no diease no climate change whole new world no death

      • Yep lots of things are possible if you have unlimited power (or more correctly no economic reason to limit the power that you use), unfortunately having everyone Bitcoin mining isn’t really a solution to anything either.

    • GunnamattaMEMBER

      The way I see it is this.

      If someone is going to build a solar array in Australia with a view to supplying Singapore then it must surely be possible to build the power lines to wherever in Australia the solar array is, and possibly connect East to West Australia, and North to South, so that all household are contributing to one big system

      But thats just my thought as a mud punter. Of course I am sure that the profit maximising behaviour of firms in electricity distribution and generation would rather continue milking households and amortizing gold plated infrastructure which is becoming more limited by the year

      • The East/West time difference does create an opportunity to leverage Solar Radiation peaks in the West with Daily consumption peaks in the East but it does so by way of substituting power from the west for Power storage in the East. So if Battery storage is Cheaper than the amortized cost of a HVDC link to WA than daily peaks are better meet with local Battery power than with even more build out of the Grid (as in East West links).
        If the sole reason for the East West link is to provide Syd/Melb with power when we have a wet week than the economics of this just don’t really add up…there are much cheaper ways to solve the problem, such as Gas Peakers.

    • There is much better and ‘greener’ method to store excess energy with minimal losses and 0 storage loss: Use peak power for electrolysis of the water into hydrogen and oxygen. It converts back into power easily and its ‘exhaust’ can quench that thirst on a hot day too or be used for the next cycle of electrolysis.
      But hey, it is not cool to say batteries are not the only and exclusive future of the electrical storage as ecofashionists will melt in an instant. So scratch that idea.

      • You’re joking right?
        Hydrogen is a horrible gas to have to store especially for longer periods of time (that’s the whole reason for making Methane or Ethanol from the Hydrogen)
        As for 0 losses ah yeah! …the best electrolysis systems extract H2 at about 75% electrical energy efficiency. the very best Fuel cells convert H2 to Electricity at about 60% efficiency (more common around 50%) …so your best cases is about 35% to maybe 40% round-trip efficiency.
        If you choose to burn the H2 in an ICE than that’ll drop to maybe 25% best case return of energy but that of course ignores the need to compress H2 to make it useful and storeable (easily another 5 to 10% energy loss there)

        • Banana ManMEMBER

          +1. At 0 °C the average H2 molecule is moving at about 2000 m/s, which is more than a mile per second and the average O2 molecule is moving at approximately 500 m/s.
          Hydrogen is extremely hard to store, better to be created and used at the source.

          • Oh, now I see why Hindenburg was so fast… because it used hydrogen

            I did not say it was easy, I said it has future.

        • Whom said storing for long periods (use by night, within hours).
          I also did not say that Hydrogen is ideal, only that using it to store excess energy is more greener method and the actual storage induces 0 losses.
          Top batteries have 5-6yrs life span (~2000 deep cycles), have huge environmental impact, make losses just by storing and still lose up to 20% converting both ways.
          My point is that existing batts are nearing the peak performance and unless another chemistry is invented, other methods will surpass them.

  26. America has quantum computing China and Russia will be scurrying for peace it like the manhattan project who ever got there first rules the world five eyes win again ask Jeff brown

  27. boomengineeringMEMBER

    Just ferrying past Norwegian Jewel and commented that it looked like a live sheep ship. She said yep disgusting we export live animals and import live subhumans.

  28. GunnamattaMEMBER

    I’ve actually had it put to me this week by a security type that there would have to be doubt about whether Australia can actually protect this defector (assuming he is the genuine thing) given a significant number of Chinese security types already openly in Australia….

    Disillusioned Chinese officials closely watching Wang case: analyst
    https://www.theage.com.au/world/asia/disillusioned-chinese-officials-closely-watching-wang-case-analyst-20191130-p53fnn.html

    • (assuming he is the genuine thing)
      Does it matter if he is the Genuine thing?
      If he is genuine than he’s a threat and as such would have a very short life expectancy
      If he is fake than he’s an embarrassment and as such will have a very short life expectancy
      See what I mean
      All that will save him is if he is fake and his sole purpose was to be a fake and become an embarrassment to ASIO because they’d be spending so much money protecting someone that was of little actionable value. Several embarrassing defection failures goes a long way towards curing the desire that security organizations have to recruit genuine defectors (i.e ones that have real and actionable and ongoing intelligence value)
      I get the feeling it’s time to reread Angelton and channel my inner CCI

      • These kind of exercises are made to wash away the remembrance of Manning and Snowden, true whistle blowers and defectors of whom one was accidentally protected by a so-called tyrant and other was captured and unjustly sentenced.
        Akin to “chemical attacks” in Syria – to deflect from reality and create desirable “truth”
        If anyone, Australia should protect first its own citizens in UK dungeons…

  29. It’s often heard around here that Treasury sets immigration targets, and that that information can be found somewhere in one of their papers. Anyone know details?
    ta

  30. GunnamattaMEMBER

    Peter Hartcher has a good piece in todays Ninefax

    Our fear of China is not loathing
    https://www.theage.com.au/politics/federal/our-fear-of-china-is-not-loathing-20191129-p53fiv.html

    More specifically, seven in 10 people say there is too much Chinese investment in Australia. That Australia is too dependent economically on China. That Australia should do more to restrict China’s military activities in the region – even if it comes at an economic cost. Six in 10 say they favour Australia’s navy conducting freedom-of-navigation exercises in the South China Sea.

    Almost half say China will become a military threat to Australia in the next 20 years. And 49 per cent say that foreign interference in Australian politics is a “critical threat” to Australia’s vital interests. And that was before this week’s news.

    Maybe I am in the wrong circles but almost everyone I come into contact with is asking questions about Chinese ‘engagement’ with Australia.

    It extends from the top to the bottom. One of our elite universities was interested in hosting me for a discussion of the essay until it emerged that it involved China. Suddenly, higher authorities needed to be consulted.

    Our Universities have been pawned by the real estate and immigration lobby, as well as crafted by Government policy over more than a generation to be overtly dependent on Chinese students.

    Similarly, a senior parliamentary figure was keen to help with arrangements for a launch in Parliament House until the word “China” was mentioned. At that, he explained that it was just too sensitive.

    It is equally obvious to anyone with their eyes open that both mainstream sides of Australian politics have been effectively bought by Chinese related funds, and that (vis Dastayari on the ALP side or the profound doubt that must surround Gladys Liu on the Liberal side) that not only do our politicians openly hide from awareness of Chinese influence but that also their default mechanism is to look after official Chinese interests first and the Australian public interest second.

    I also found it in discussions with a business analyst, who is happy to issue commentary on any economic subject, but has a self-imposed rule against making any comment on the biggest economic subject for Australia, China.

    Australia has an inward facing business world which lives in a cocoon of population ponzi and harvesting demand and crowding demand to maximise their profitability. It prioritises those profits well ahead of any national interest considerations.

    Even a bloke cutting my hair told me that he’d learned to be careful about discussing the news with his Chinese Australian customers after being upbraided by one young man for expressing his view on the Hong Kong protests. After all, said the hairdresser, one day the Chinese government will be monitoring everyone in Australia.

    Some tens of readers emailed with their own stories of being silenced, intimidated, monitored or otherwise discouraged from speaking frankly about this apparently radioactive subject. These included encounters in universities, workplaces, even retail establishments. Others expressed relief that I was broaching a topic they felt too nervous to canvass in their own lives.

    There are Chinese goons attending any semblance of protest related to Hong Kong or Xinjiang, and older Chinese migrants (of the post Tienanmen vintage) openly wary of mixing with newer Chinese migrants because they know there are security implications back in China for the views that they may have here.

    One important note is that, as far I was able to detect, there was little or no raw racism in any of this. The concern was overwhelmingly about the actions of China’s government, its big businesses and the Australian politicians seen to be tolerating its intrusions.

    So does that mean we can move away from the word ‘racist’ being tossed the moment there is any questioning of migration to Australia or of Chinese involvement in our politics or economic processes? (feeble as they may be)

      • Mining BoganMEMBER

        I raised the social credit score with the Chinaman who runs the post office. He got very angry and says only bad people are affected. I says and Tibetans and Uyghurs and Falun Gong.

        Luckily I don’t go in there much. Think I was close to being stabbed.

        • The Traveling Wilbur

          I would be thinking he was APS at some point in the past to get that job when he did.

          Therefore he’d have to be an Australian citizen. With a funny accent maybe.
          Just like Eddie Maguire.

        • Wilbs. Most small post offices are franchise businesses. They have been a prime target for Chinese seeking business investment visas.

    • bolstroodMEMBER

      Fran Kelly interview with Penny Wong on Insiders this morning.
      Fran asked about meeting Penny & Shorten had with Chinese Emabassy types, where the China man said if the Labor party did not do as the Chinese wanted (Can’t recall the issue) they(the Chinese ) would mobilise 1.2 million Australian Chinese to vote against Labor at the election.
      I wll watch again tonight to ake sure I heard it right.

    • So does that mean we can move away from the word ‘racist’ being tossed the moment there is any questioning of migration to Australia or of Chinese involvement in our politics or economic processes?

      There is a huge difference between questioning immigration from _all_ nations and from a few selected as well as questioning money inflow/investment from _all_ nations or from few selected nations.

      Call it as you like, the later one always ends in -ism or -phobia.
      Does it bother you that US tech conglomerates skim a percentage of everything we earn?

      • GunnamattaMEMBER

        Yeah OK.

        1. Is it appropriate for any one nation regardless of its races colours or creeds to have to have economic ties to another nation, which inter alia:-

        a. to which it is not tied by any strategic interests or treaties,
        b. which happens to be a one party state,
        c. considers representative political arrangements of the type we know as ‘democracy’ to be a threat to its political interests,
        d. has a rule of law which does not recognise Australian law,
        e. which detains and imprisons Australian citizens with little or no observable legal process (or that which may be considered legal process under Australian law)
        f. considers migrants to Australia to remain beholden to its interests,
        g. maintains surveillance and policing within those emigrant communities in Australia, and
        h. overtly provides funding to Australian politicians with a view to gaining acceptance of its views of the world, and
        i. has an overtly hostile view towards public disclosure and media freedom

        – of such magnitude that the socio economic, right to expression, and rights to representation fortunes of Australians – regardless of their races, colours or creeds – have become significantly dependent on that Nation? (lets call the one nation Australia, shall we)

        2. Is questioning any such relationship necessarily racism or a phobia? (and while we are there why not ask ourselves if any nation which might fit under the aegis of the above caveats might itself exhibit behaviours, decisionmaking processes and publicly disseminated attitudes which might themselves come under the general heading of racism or a phobia)

        3. At least with US tech conglomerates (notwithstanding my quite profound suspicions about their activities) there is some – albeit often limited – scope for Australian laws, political processes, strategic alliances, and public disclosure and media activities to influence their behaviours. (ie if you are asking me if I think Australian interests have more scope for influencing Google or Facebook or Amazon (etc) and their managements than they do of influencing the Chinese state, then I think the answer is a resounding yes – it may not be all that much, but it would still be more than they would have in dealing with China).

          • Its not like the U.S. has given a big fat finger to international law or anything, seems once others did not automatically genuflect its time to throw ones toys out of the play pen and hope chaos weakens everyone else.

            That’s not to say U.S. policy could not shift away from the last decades.

            Gezzzz I still remember when the U.S. would not pay its UN dues, its argument was it was not getting enough bang for its bucks, ransom?

            Occupy vs HK’ers …. it blows the mind to watch ….

  31. boomengineeringMEMBER

    Aussie changing, don’t remember them being so rude, on the ferry to Parramatta plenty of room up front , 2 guys from Cockatoo Island sleepover had to stand in front so close his legs were pushing my knees.
    Btw city quite as well.
    Every time we go out west the missus notices no dogs in sight. Islam = to touch a dog is to be touched by the devil.
    Edit, just saw a Asian guy walking 2 big dogs.

    • Great Southern Land

      To ride the Parramatta Ferry on a Sunday is not for the timid (or courteous). If you can afford it, any day when the fare is not capped at $2.60 will see you on a more civilized voyage.

      But if you really want to see the worst of humanity in this part of the Sydney – all courtesy of Scummo et al’s mass immigration policy – head on down to Armoury Wharf round 10:00AM on any given Sunday to witness the all out vibrant on vibrant warfare, complete with pushing / swearing / shoving as one group in particular goes out of its way to let all other ethnicities know that this (public) area is off limits to others.

      • boomengineeringMEMBER

        Took your advice now on train back to city after 2 ferrys., Death stare central. Probably not a good idea to be wearing my Hawian shirt here. Consolation being she
        though the world had ended as high rise devoid of people until the station. Those Alaskan Malumut’s the only animals seen.

        • boomengineeringMEMBER

          Missus wants to take pictures of the train we just passed. Only 1 whitie on board the whole train.

        • Great Southern Land

          Indeed, even the train ride makes you feel out of place …

          That area: nice cycling paths along the river (though I suspect way too flat for your grade), otherwise the whole thing is a total cultural / demographic / architectural / environmental writeoff.

          • boomengineeringMEMBER

            Maybe they just died of old age or don’t ride on trains on WEs . Ermo may be the last man (non immigrant) standing, there, a true blue.

    • Yes, I reckon that’s a classic example of journalists picking their moment. A lot of journos want to write those stories but they know they can’t get them through the editor. Too much blowback from the REIs if they write about the need for AML legislation in real estate (a classic example of flak, for Manufacturing Consent fans). But when the topic is hot, a window opens. Those journos have probably been wanting to write that story for years. Well done fellas!

    • Love the caption below the photo..

      Sydney home prices will likely double in the next decade.

      Oh’ RLY??

      • Great Southern Land

        Provided that international creditors will lend to our banks at minus %8.50 interest [that’s NEGATIVE] and tolerate a household debt to disposable income ratio of around %400 then yes – in all seriousness – prices could double in that period.

      • RLY?
        Yep.
        but it will stay the same in the nominal gold value.
        I’d compare it in other fiat but all of them are in printing abundance at request thus Wile E. Coyote style levitating.

        • Yeah I agree. If currency values collapse and wage inflation goes through the roof then anything is possible.

  32. Good report on what happens when you allow uncontrolled Chinese development into weakly governed cities (in this case, Sihanoukville in Cambodia) – pollution, crime, money laundering and unhappy locals. But I’m sure at least the local government officials do well out of it.
    https://www.youtube.com/watch?v=6ubscmDpZJc

    • Thanks to Chinese immigration the cabbie is “making a lot more money” but now has to sleep in his cab because rents too high. Maybe RBA will take some tips and exclude rent from their Cost of Living Index.

      • true.
        Condition from the times before ‘the reds’ arrived.
        Oh well, nothing’s changed apart that everyone now has an android or ios

    • The Chinese have been counterfeiting one way or another for ages through industrial espionage, ripping off everyone’s IP and making their own sh1t copy knock ups. The J-31 looks remarkably like the F-35 and it wasn’t through Chinese ingenuity!! Anyone for a Chinese Rolex?

  33. GunnamattaMEMBER

    OK Guys, If I want to buy ‘significant volumes’ of physical gold, where would I do that?

    I have been contacted by a mate who wants to do so for some business types who are looking to start a ‘a Singaporean regulated and licensed gold trading platform’

    My initial thoughts are Perth Mint – anyone got other notions?

    • Some of the small/medium sized gold Australian miners carry gold bullion on their balance sheets that is in excess to what they require for hedging purposes. Can always try and strike a price hedge contract.

    • The jewellery recyclers are often good, depending on what they have at any given time. I use Regal Castings here, and I’m sure there’s an equivalent or two over there. They get broken down ‘scrap’ jewellery metals from the trade and put it back into blocks for resale.
      https://www.regal.co.nz/index.php

    • I think there is only ABC Refinery and Perth Mint on the LBMA Good Delivery List in Australia…..this is a requirement to operate in Singapore. I suppose you could put raw product through a Singapore accredited Refinery but costs would go up.

    • Rorke's DriftMEMBER

      Seems odd to have the skills, connections and market credibility to launch a gold trading platform, but not know where to buy volume gold.

    • Please keep updating on future developments.
      Some (alleged?) insiders claim that it is not easy to get gold in tonnage. Would be interested to know if true.
      Or do as Comex / LBMA, re-hypothecate your physical gold 100x.

    • Banana ManMEMBER

      Perth mint bullion. Will buy it back as well. Can open an online depository acct quite easily. I prefer to use that as opposed to a bank.

      • desmodromicMEMBER

        Same here. Transfers are easy and gold has maintained its value. Of course that might change but not anytime soon.

      • You will find that when this financial quagmire starts to unravel words like ‘easy’ pertaining to your store of wealth will become antithetical to ‘safe’, ‘secure’, ‘trustworthy’ et cetera.

  34. Arthur Schopenhauer

    I can highly recommend the ‘Sinica’ podcast. A great way to gain a better understanding of Chinese politics & culture.

    • boomengineeringMEMBER

      ING are good, Rabo seems a good choice too. No banks at all for me now though. MB fund.

  35. The word is out bitcoin to crash in to oblivion America currency going crypto backed by quantum computing Rip bitcoin 18 months lol hard assets only hedge who new lolol Jeff brown Glen beck I think they knew bitcoinwill be in a death spiral

  36. The cryptography can be deciphered it will have no security 5g has no security without quantum computing bitcoin will be compromised watch the youtube podcast Jeff brown Glen beck the binary is on the wall can you c it

  37. As well its fallacy that bitcoin can’t be traced tax collection by quantum there will be nowhere to hide most valuable metals wil now be made cheaply in mass automation will explode technical workers jobs 2 a lot will be left be hind 50 percent at least

  38. one time someone said pavlov probably thought about feeding his dogs every time he heard someone ring a bell and i haven’t been the same since

  39. Also, as keen as I was to buy some more sh!t, I didn’t end up buying anything over the weekend.

    I mean, what do you give the harry who has everything?

    Maybe cyber monday, which sounds pretty suss to be honest.