Macro Afternoon

See the latest Australian dollar analysis here:

Macro Afternoon

Japanese stocks tread water today as other markets leaped ahead on the news that the Twit-in-Chief may delay the upcoming December 15 tariffs, although currency markets were relatively stable as were gold and Bitcoin.

The Shanghai Composite closed nearly 0.3% higher to 2924, building above the 2900 point level it broke on Friday, while the Hang Seng Index shot nearly 0.8% higher to finally make a new daily high, finishing at 26645 points. The daily chart is showing tentative signs of a probable swing play back up to 27000 points:

Japanese share markets remained sleepy, not helped by a static Yen, with the Nikkei 225 closing 0.1% lower to 23391 points, still remaining well clear of daily support at the 23000 level. The USDJPY pair is slowly building up out of its very tight range, having bottomed out at last weeks low nearer the 108.40 level:

The ASX200 was the biggest mover, but to the upside this time, closing 0.7% higher to 6752 points as it builds well above key support at the 6700 point level. The Aussie dollar tried to move higher but remains steadfast at the 68 handle which at least is providing a modicum of support:

Both S&P and Eurostoxx futures are slightly lower going into the European open with the S&P500 four hourly chart showing how the recent bounceback still can’t break staunch resistance at the 3150 point level:

The economic calendar has a big one on the radar tonight – the latest CPI print from the US.

Comments

    • once Smoko deals with the union thugs there will be no more uncovering.. just quiet Australians.

    • If enough countries get sick of Chinese interference and push back it could blow up in China’s face as it alienates it’s trade markets.
      Tell ’em to f off faroes. Australia doesn’t have the guts but some might.

  1. WTF is wrong with people? Listed some good furniture on gumtree, for free, some asked to get it delivered, a couple said they would take it and never showed up. F it, it’s at the curb.

    Put an elliptical trainer out to the curb last week, not 10 minutes later a subcontinental showed up, took the “free” sign off, brought his wife and tried to load it in the back of a hatchback clearly not understanding the concept of space. 10 minutes later saw them carrying the damn thing down the road. *carrying* The thing has wheels…

    • “a couple said they would take it and never showed up”

      Quite common. They lie so that you hold it for them, and then continue looking for something better.

    • The Traveling Wilbur

      It’s a bit like a bank loan – anyone who needs one isn’t likely to be eligible, and anyone looking for free siht on Gumtree isn’t likely to be likeable*.

      *MB members excepted, of course.

      PS Why is MiBo MiBo? Why isn’t MiBo just MB and MB be MaBu? Then Houses and Holes could be HoHo for Christmas!

    • I’m all for recycling stuff, but even I think it’s easier at times to just junk stuff than deal with fwits over Gumtree. Facebook market place isn’t much better despite peoples real names.

      I’ve got a set of wheels on there that are in good shape. The amount of time wasters is unreal. I don’t even bother responding to questions now. Not worth it.

      When I was selling my Suzuki Jimny I got every tyre kicker under the sun. 1 tyre kicker got upset when the car sold and I hadn’t taken the ad down fast enough for their liking. Not my fault they dicked around for too long. Snooze ya lose.

      When I leave Sydney I’m not sure if I’ll give stuff away or just turf it. Really don’t want to deal with idiots who don’t show up and be stuck with furniture.

      People asking for delivery have no way to transport it. But theu can always hire a van like GoGet. That’s what I did.

    • LOL, we gave stuff away via Facebook marketplace and a guy arrived with a sob story about his daughter who had been in a DV relationship and did we have anything else we didn’t need? (which we did) He took off with his ute fully loaded and not 1 hour later the items all turned up on Facebook marketplace for ridiculous prices. I just put it all on the nature strip now and it’s gone within a few hours…

      • Thats what I do. Even if it isnt hard refuse time. If its something I think someone might make use of, out to the curb and gone within days.

        • And if no takers, you put a sign “for sale $20” and then within an hour some cvnt will steal it! Job done 😁

          • Lol. You’re a cynical bastard.

            Would you like to hit the Meating Room at Coolo for Xmas drinkies sometime?

          • Yes, yes I would.

            And I had to google that, and I am stunned and impressed that Coolo now has a bar and the Irish Club has some local competition!

            Tues or Wed next week would work well enough, or to be honest (being a shut in) Saturday nights would work well too. What do you reckon?

    • Mining BoganMEMBER

      Not worth the hassle of dealing with tards.

      Use it until it dies, find a young family member who needs it or off to a charity. Tards are toxic.

    • I am gobsmacked that a subcontinental man purchased a hatchback!

      They normally buy tiny sedans instead.

      carrying the damn thing down the road. *carrying* The thing has wheels…

      “skilled” immigration.

  2. Arthur Schopenhauer

    Melbourne is on track for the lowest rainfall in 20 years.

    It was marginally above the lowest in record (1967) until early November. Around 75mm over now the all time low now.

    • Khan told the court during his evidence that he wanted to have fuel in his car, so he could test the range of his vehicle after the low fuel warning light came on.

      Legit hey?

      Liar till the end. I remember driving past the burnt out building a few years ago. Very sad.

  3. Reuters reports US Army will fund Rare Earths Plant for weapons development in order to stop dependence on China.

    • SnappedUpSavvyMEMBER

      Smoko’s approach to all this fire mayhem has been strange… would such a psycho, who is totally devoid of any compassion, be a little out of depth at the moment

    • SmoKo couldn’t care less, they’re not quiet Australians nor are they a posse of cranky farmers from marginal National Party electorates.

    • Mum’s got a little old lady driven ’98 3.0v6 110k auto, as good as new & never had a problem! Not a sports car but cruises well, eager enough for quick overtaking. Steering rack could be faster & Definitely Not built for corners – ploughs & shudders with the best of them at a low threshold – stopping could be better too!! Driven within it’s limits & no emergencies & it’s alright! All it needs is as much Castor & Camber as can be built into it & a slightly heavier rear sway bar if available & all would be fine for a family runabout….. I’ve doubts about it’s handling compared to the AU but it’s been a while since I’ve driven one of those.

  4. Migrant caused climate extinction.

    The non Australian citizens in Australia are primarily third world unskilled migrants on foreign passports in Australia on permanent stay PR, very long & practically permanent stay TR, NZ SCV ‘stepping stone’ visas & ‘visitor’ long stay / repeat stay visas..

    They will create over 770,000,000 tonnes of Co2 emissions in the next decade.

    And they will consume (on trend) nearly half our key cities water supply..

    Some fact checks.
    The average CO2 emissions of a person in Australia is 15.4 metric tonnes yearly.
    https://data.worldbank.org/indicator/en.atm.co2e.pc?view=map

    However in the third world slums and poor rural areas of China, India, Nepal, Bangladesh & the Middle East which are our main migrant intake – their Co2 emissions per person are half that or even one tenth.

    See China on the link – map, at only 7.4 tonnes or India at only 1.728 tonnes of Co2 per person.

    We have 5 million of these non Australian third world foreign passport holders onshore in Australia.

    (1.9 million as PR, 2.57 million as TR/SCV, 440k as illegally working Tourist Visitors & 65,000 Overstayers).
    Yes it’s 5 million non Australian foreign passport holders.

    And 87% or 4.3 million are crammed into either Sydney or Melbourne – living very high environmental impact lives with very high emissions.
    Sources are ABS & DHA.

    Collectively these 5 million non Australian third world migrants onshore create an additional Australia Co2 emission output of over 77,000,000 tonnes of Co2 yearly.

    Allowing for the current rate of third world migrant intake (which in fact is accelerating) and that at least the same number or more of the migrant intake (5 million plus) will continue to be non citizen foreign passport holders each & every year for the next decade / then that is 770,000,000 tonnes of Co2 emissions from these non Australian foreign passport holders in the next decade.

    But if they remained in their own country then it would only be 15,000,000 or so tonnes of Co2 yearly or
    150,000,000 tonnes over the next decade.

    So if they were all exited, then Australia would achieve a 75,000,000 tonnes of CO2 reduction and a net 60,000,000 Co2 global emission reduction yearly.

    And 750,000,000 tonnes of Co2 reduction for Australia and a global saving of 600,000,000 tonnes of Co2 emissions globally.

    If just say 2.5 million of the migrant guestworkers were exited (those in visa breach, faux visas, most living and working illegally) / that alone would save some 375,000,000 million tonnes of Co2 emissions by Australia and a global saving of 125,000,000 tonnes of Co2 emissions.

    👉🏻And that’s more than our current planned commitments in Co2 emissions.
    Simply by applying enforcement of existing visa controls.

    It is the same with our water supply.

    Using the Sydney/ Melbourne non citizen migrant concentration stats from ABS the figures are alarming.

    ▫️In Sydney (total pop of 5.2 million) using primarily the Warragamba Dam (supplies 4.5 million) then 46% or 2.4 million sucking the dam dry are non Australian foreign passport holders.
    ▫️Melbourne at 5 million pop has 38% or 1.9 million non Australian foreign passport holders sucking up that water supply.

    And ditto for power, public transport, hospitals, roads & transport, or our other critical public infrastructure.

    Totally overloaded by the third world migrant influx.

    Which raises an interesting point of view.

    Why aren’t our young people angry at the migrant guestworker influx in causing such global environmental damage?

    ‘Extinction Rebellion’ is a global environmental movement youth led movement with the stated aim of using civil disobedience to compel government action to avoid tipping points in the climate system, biodiversity loss, and the risk of social and ecological collapse.

    So where are their protests about the root cause issue?
    The migrant influx.
    Not only are these migrants destroying their education, stealing their jobs, lowering wages, destroying housing, converting Australia to third world squalor, congestion, creating for them a huge future tax burden, (76% of the PR migrant influx & spawn are net welfare dependent), destroying their standard of living & future opportunity…

    But also creating a massive tangible Australian and globally increased environmental impact.

    Every Chinese, Indian, Nepalese, Bangla, Pak etc allowed in on a pretext visa is creating a tangible net additional Co2 global emission impact.

    Raising our oceans, creating desertification, destroying the Barrier Reef, contributing to additional climate change impact just by being here – rather than in their rural or slum squalor back in China or India.

    -:-

    Why aren’t our young people chaining themselves outside the foreign language academies or the segregated foreign student campuses protesting?

    Why aren’t they out in the vast migrant guestworkers slums of Sydney like Lakemba, Granville or Burwoo to protesting & being televised live by the ABC about this migrant induced climate extinction?

    • LOL.

      I love the way you try to argue migrants living in hovels at “over twice the density”, riding pushbikes or catching buses everywhere, never bathing and eating mostly rice will still have the same emissions footprint as a ‘normal Australian’.

      • ErmingtonPlumbingMEMBER

        Is that how you stereotype the migrants in our community Smithy!

        I thought you were Woke,…not racist!

        • Obviously. When I write “you said X” to someone, clearly what I actually mean is “I think X”.

      • They do not ride bicycles – they ride polluting scooters to deliver food.

        In Canada, nuclear power is green

        Ontario was able to stop using coal for electricity generation five years ago because of community acceptance for nuclear power

        Before Ontario stopped using coal to generate electricity in 2014, the Canadian province’s biggest city, Toronto, was enveloped in smog so thick that driving was dangerous more than 50 days a year. Since coal was phased out, the annual smog count has gone to zero.

        https://www.afr.com/companies/energy/in-canada-nuclear-power-is-green-20190823-p52k2u

        Stopping “skilled” immigrants from coming here would be good for our planet.

        Australia is the only G20 country without nuclear power.

      • I love the way that you try to pretend that population growth (due to immigration in Australia’s case) isn’t an issue. The average migrant from China has a massive increase in carbon footprint and ecological footprint on coming to Australia, and we are taking migrants from much poorer places than China.

        http://www.swinburne.edu.au/news/latest-news/2018/11/chinese-migrants-follow-australians-giant-ecological-footprints.php

        This paper calculates that 75% of historical greenhouse gas emissions are due to population growth and 25% to higher per capita consumption. There are 8 people in the global population now for every one in 1800,

        https://www.ifo.de/DocDL/cesifo1_wp7421.pdf

        Population denial on the Left is just as or even more destructive to our environment and well-being than climate change denial on the right.

        • I love the way that you try to pretend that population growth (due to immigration in Australia’s case) isn’t an issue.

          Where ?

          Population denial on the Left is just as or even more destructive to our environment and well-being than climate change denial on the right.

          In as much as it even exists, no, it’s not. Not even close.

          Per the link someone else posted here in the last few days (maybe on the weekend), the impact of population growth even at a global level is utterly dwarfed by the impact of consumption.

          What’s your climate change solution for population anyway ? Pro-active genocide ? Feed in some weapons and let them kill each other ? Cut off any assistance and just let them die ?

          • What about the links that I included? Why should I believe yours instead? If all the Earth’s resources were divided equally, we would all be very poor, with a per capita ecological footprint less than that of Guatemala, a place from which large numbers of people are risking their lives to break into the US. (See the Global Footprint Network site.) If the main global problem was overconsumption and hogging of resources by the rich countries rather than overpopulation, then the average would be high enough to give the average global citizen a modest, but decent standard of living without trashing our life support systems.

            Where do I advocate genocide or not helping people (at least where it is not going to do more harm than good)? So far as climate change is concerned, we in the developed countries certainly need to work on consumption in the short run. From what I have read, we would probably be better off if we cut it by 10%, assuming a more equal distribution, and not much worse off if we cut it by 20%. Nevertheless, there is no point, if any sacrifices that we make are cancelled out by the enormously increased ecological and carbon footprints of huge numbers of migrants from poor countries. So we also need to stabilise our population. We can’t tell foreigners what to do. The only dysfunctional culture that you can hope to change is your own. Even so, we are not obliged to let them export their problems to us.

          • My actual reply got binned, but the short version is:

            * You can’t do anything meaningful about climate change from a population perspective without killing billions of people.

            * The Global Footprint Network site says Australia is not overpopulated.

            * Australia’s population is completely irrelevant in any global context (ie: climate change) and would probably be barely relevant even with an order-of-magnitude increase.

            * We (Australia) should be able to reduce our consumption levels to something around 1/2 to 2/3 current levels without any serious quality of life issues. The US more like 1/3 to 1/2. That would bring them down to roughly on par with Switzerland.

  5. Interested PartyMEMBER

    Justice Department Inspector General Michael Horowitz Senate testimony tonight our time.
    Expected to explain the findings of his report into FISA abuse.
    I expect questioning to explore the “how” of this all happening. Durham should define the “why” of the FISA effort and then to start the process of revealing the corrupt cesspool that inhabits the halls of global power. The selling of this is already dripping into the publics consciousness. As AG BArr mentions in this clip…it could be several months away before Durham delivers.
    https://youtu.be/LRKFo0JmuBc

    As I have said all along……..obama and co are toast. Links to be defined ( revealed ) are those with epstein ( mossad ), weinstein, nxivm, Clinton foundation, multiple “institutes” ( fronts for slush funds…ie…mcain institute), muslim brotherhood, CIA, Saudis, Qatar, Iran, North Korean nukes, vatican, soros, royals, and many more. Chuck in a few global charities for good measure.

    Sure…it’s the USA in the spotlight….and we have our own issues here at home. However……I believe that the drivers (people/orgs) behind the US concerns are one and the same that are behind our problems…..leverage over someone does not stop at a national border.

      • Interested PartyMEMBER

        And that is by design. Omitted information is how the corrupt press control our thoughts.
        Don’t be concerned about the impeachment….Trump is goading the dems to do it so he can legally enter a bunch of evidence into official proceedings in front of the public. I don’t think the swamp has the stomach to try him on.

    • Just so there is no confusion, so when some bang on about we just need our own Trump down under or institute the economic miracle his mob has ushered in ….. no thanks …. but I hear OCD like focus on wonky non distributive econnometrics will do that ya …