Links 23 January 2020

Global Macro / Markets / Investing:

Americas:

Europe:

Asia:

Trans-Tasman:

Comments

    • Yes credit debt for consumption is non productive, yet not all debt is the same.

      There is an old U.S. Frontline episode on the whole CC debt thingy from Diner club card to McKinsey and Co fee structure revolving debt, suggest all watch it.

      I reiterate again this all napped after wages and productivity diverged and the war against wage inflation became a cornerstone to orthodox economics, simultaneously whilst workers rights were attacked and offset by cheaper throw away consumer stuff – all while health, education, and other necessities costs went parabolic.

    • Sydney median household income – $97,900 LOL
      not according to any reliable source in Australia – it’s more like $70k

      • Census 2016 shows $1750 pw / $91 000 pa median household income for Greater Sydney Statistical Area (south to Picton, west to Katoomba, north to Budgewoi

  1. Australia to add 3.6GW of new solar and wind to grid in 2020
    these 3.6GW of renewables will be able to produce more energy than Liddell power station and at the lower cost (once all the costs included)

    • Let’s add a few more made up costs to Liddell, that way we can claim that enewables arent just cheaper, but twice as cheap!

  2. 全国:确诊 549 例 疑似 137 例 治愈 28 例 死亡 17 例
    so since yesterday, 149 cases now 549, a few recoveries (now 28 was 24?) and another 8 deaths (to 17 from 9). looking at recoveries/deaths that’s what? 40% morbidity? no wonder there’s concern

    • 149new cases a day and 17 deaths in total in all of china

      last time I checked more die in China a day from choking on bottle caps – Tennessee Williams style
      BTW. 25k people die in China every day
      China doesn’t conduct general tests for new virus so number of cases could be millions and morbidity rate could be as low as 0.1%

      • yet on the other hand, governments around the world are reacting to this. who’s being stupid I wonder?

          • so I’m troll for pointing out some facts:
            – number of deaths has been low in all known outbreaks
            – coronavirus is a common cold virus
            – it’s also common to domestic animals – but not dangerous (not very contagious with high mortality rate)
            – epidemic in Saudi Arabia in 2013 didn’t produce mass outbreaks and large number of deaths
            – no general virus screening of people with common symptoms has ever being conducted so number of cases is unreliable
            – there is no evidence of any high mortality due to unknown number of cases
            – vaccines already exist for domestic animals so should be easy to make one for humans
            – MSM fear induced mass vaccinations will produce great profits

            like ebola vaccine, all funded by public money, sold to Merck for peanuts expecting annual growth of 30% for years to come
            https://marketresearch.biz/report/ebola-vaccine-market/

          • @aron
            I listed it here because of media scare campaign similarities
            you are right, despite having higher morbidity ebola is much less dangerous from a epidemiological point of view because it cannot be spread by touching, sneezing or coughing so it’s much easier to contain

          • Qualitative Easing

            I have a mate who is a Doctor. Reckons that these scares produce a flood of uneccesssary ED presentations which he has to sort through. Most don’t have the right symptoms, travel timing etc but they have to go through the motions.

            Anyhoo during the MERS (Middle East virus) scare he had the fun job of asking fresh off the plane worried vibrants who came straight from their Emirates flight to the hospital if they had had intimate contact with camels whilst in the middle east. Apparently a number of them didn’t like that suggestion at all. He said causing that offence was the only good part of that job

          • If this is all a beat up, why have they just quarantined a city of 11 million people?
            This doesn’t sound like playtime to me….

          • Just clarifying. What is classified as “intimate contact” with a camel? Gentle petting or further up the spectrum of affection?

          • Why are casually listing ebola? It has a mortality rate of up to 90%. We’re just lucky it’s not an airborne virus (yet), or we’d be f*cked.

          • @Mr Walker
            and again, despite high mortality ebola is not a real threat to people
            there are so many dangerous viruses around that are not airborne viruses so what
            what if rabies (100% mortality) mutate to be airborne? Should we because of that slight possibility make a scare campaign now and vaccinate everyone?

      • They’re being encouraged here too and as long as they buy a residential property we’ll overlook the Corona.

      • SARS was a big thing in HK because the Chinese were desperate for proper medical treatment. The danger now is the same, sick Chinese try to leave to country for treatment.

          • They don’t know that. They haven’t caught up to theunpleasant new realities of Straya. The dream of nirvana Australia must not die as it gives them something to believe in, to hope and strive for. A place of eternal sunshine, an easy lazy life with clean air, safe food and a benign government environment which always acts in the best interests of the people. It makes life worth living knowing heaven does exist on earth

  3. Australians urged to ‘holiday here’ in support of towns hit by bushfires
    https://www.smh.com.au/business/the-economy/australians-urged-to-holiday-here-in-support-of-towns-hit-by-bushfires-20200122-p53tot.html

    Tourism Australia launched a $20 million advertising campaign on Thursday imploring Australians to stay closer to home on their next holiday in a bid to help tourism operators and fire-affected communities recover from the summer’s unprecedented bushfires.
    more pork for the mates
    $20m for people in those towns would do more help

        • You talk in acronyms, sign of terminal immaturity, reinforced by links to a climate denier site where grown men spew futile hate on a young girl.

          • Read your icky ZH link. My comment:

            For the ultra wealthy, Ferguson said Trump remains the obvious favorite

            That’s obviously true. It’s also why I laugh at the schlubs and incels who post at ZH in support of Trump, when they are the very last thing he cares about. Most ZHers would be much better off under a Bernie government. But they are too dumb to realize it, and applaud the articles supporting Trump written by Tyler and the other multimillionaire owners of the ZH site!

            Clowns 🤣

          • Schlubs and incels… always with the status signalling. lol. Did you miss the schlubs and incels taking over?

            Why is it that progressive cultists always turn out to be pedos, pimps, drug and human traffickers. Every single degenerate is on the left. Why you you all so broken, so easily programmed, so basic b*tch NPC?

            I don’t mind really. Currently I’m loving watching the left get slapped worldwide. The wailing, the gnashing of teeth, the REEEEE’s from the feminist scum, the eco-nazis, the circus tent of alphabet freaks, the islamo-pedos, the gamma secret-king socialists. Excellent. All is going well.

            This is your fave Bernie being called a coward, by another leftist: https://www.youtube.com/watch?v=win1ql8ulYA

            I’ll help you out so you can prepare yourself. Hillary will be your nominee. Would you like to know why? The right is pushing very hard to make it happen. Did you notice how no one in power is saying anything about her? We want her to be the nominee.

            The point is to have every single thing against her. An exact inversion of every smug, condescending remark about deplorables, incels and flover states in 2016. A complete inversion.

            See – we want to humiliate every progressive. We want to slowly break you, with loss of social status, with being put face first into the dirt in every common, to call every leftist woman barren and to make sure no man goes near, to be spat on in public, to make sure every last lefty academic/inner city c*nt who looked down on good working men and women – to strip them of every last vestige of social currency.

            Be cool – its going to be a fun century.

          • Why is it that progressive cultists always turn out to be pedos, pimps, drug and human traffickers

            Very amusing. Is this how the deplorables see people who vote against fascists like Trump? The only pedo I know of is Epstein, seen in a video with Trump lasciviously sizing up young women in a discotheque.

          • NPC only watches CNN? I suppose I should not be surprised.

            Tell me, were you born a coward, or did you hit middle age, realize you had no marketable skills and so started virtue signalling as a way to earn a pittance of crust?

            Btw – Clinton visited pedo island 26 times that we know of. Pro-tip: it was not young women. Its much much worse.

            For your reading pleasure: https://www.crazydaysandnights.net

          • Tell me, were you born a coward, or did you hit middle age, realize you had no marketable skills and so started virtue signalling as a way to earn a pittance of crust?

            You cheeky little punk, I’m old enough to be your father, a very wealthy retiree, who fought in the Rhodesian war for 2 years under terrible conditions. Your keyboard warrior bravery and bloggerbutt swagger would soon evaporate if we met face to face. 🤬

  4. Why is it that progressive cultists always turn out to be pedos, pimps, drug and human traffickers. Every single degenerate is on the left.

    The Catholic Church is “left” now?

    • A good proportion of Catholics have social justice beliefs which would place them well to the left on the political spectrum. Others not so much.
      There would be more diversity of thought amongst Catholics than say among bigots.

      • You mean like Cardinal Pell, pedo and climate denier? And close friend of Tony Abbott? Very Left, isn’t he?

          • The “point” (and I use the term VERY loosely) he was responding to was this:

            Why is it that progressive cultists always turn out to be pedos, pimps, drug and human traffickers. Every single degenerate is on the left.

            (Though I suspect that statement falls into the realms of “it’s not a lie if you believe it”.)

    • It’s NRx-speak for “boogeyman”.

      Roughly speaking, they seem to think the Magna Carta and everything since is “leftist”.

      • I’m starting to wonder … is conservatism a mental disability? I mean seriously, there is so much cognitive dissonance there that some unconnected neurons must be at fault….