Links 2 March 2020

Global Macro / Markets / Investing:

Americas:

Europe:

Asia:

Trans-Tasman:

Leith van Onselen

Comments

  1. Coronavirus … considering some economic impacts …

    … A British perspective …

    Britain’s economy dangerously exposed as coronavirus fear grips global markets … Phillip Inman … The Observer / The Guardian

    https://www.theguardian.com/business/2020/mar/01/coronavirus-britain-economy-dangerously-exposed

    New Zealand’s government induced costs out of control economy … aviation … as just one example of many …

    Coronavirus: Some airlines may abandon NZ due to high airport fees, government charges: Board of Airline Representatives … Grant Bradley … NZ Herald

    https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12311431&&ref=recommended

    An airline lobby group says some carriers may abandon New Zealand due to high airport fees and government charges as profits are hit by the coronavirus outbreak spreading around the world.

    The Board of Airline Representatives has broken down the cost of an Economy ticket to Australia and has found that on average airport infrastructure charges account for about 23 per cent, government levies and taxes 26 per cent and air traffic control 4 per cent. Airlines make up less than half the ticket price at just 47 per cent. … read more via hyperlink above …

  2. According to https://www.domain.com.au/auction-results/sydney/2020-02-29 there are 599 reported auctions in Sydney this weekend. Yet there are only 466 results listed on their web site. Where did 133 results go?

    Out of those 466 results available 176 have been sold prior or prior price undisclosed. That is almost 40% of properties that didn’t get to the auction because the offer was too good to refuse in a booming market.

    Out of those 176 sold prior 8 have been recycled
    from here: https://www.domain.com.au/auction-results/sydney/2020-02-22
    Beacon Hill … 38 Ryan Pl
    Eastwood … 1 Sheehan St
    Elanora Heights … 15 Iluka Av
    Maroubra … 19/172-178 Maroubra Rd
    Mortdale … 4/32 Jersey Av
    Revesby … 53 Ferndale Rd
    Ryde … 7 Susan Schardt Wy

    and here: https://www.domain.com.au/auction-results/sydney/2020-02-15
    Pagewood … 20 Collins St

  3. By Adele Ferguson

    Alinta Energy was sold to a Chinese company on the condition it protected its customers’ data

    Alinta collects names, addresses, birth dates, mobile numbers, Medicare and passport numbers, credit card details

    Dr Vanessa Teague from Melbourne University, assessed the EY report and described Alinta as having a cavalier attitude to privacy.

    https://www.smh.com.au/business/companies/credit-cards-addresses-and-phone-numbers-vulnerable-more-than-one-million-energy-customers-privacy-at-risk-20200228-p545bw.html

    How good is that!

    • Arthur Schopenhauer

      And the former treasurer signed off on it. ~1,000,000 Australians details straight into the hands of whom?

      PM Mr ShvtFvckery

    • Arthur Schopenhauer

      Data stored in NZ? Really? And I’m guessing backed up in Singapore at an AWS Data Centre? Anybody out there know of a data centre in NZ that matches what’s available in Sydney or Melbourne?

      Odds on the data is on a couple of MSSQL servers in a cupboard.

      These secret deals are bullshvt. They should be public and open to public scrutiny. There is nothing ‘Commercial in Confidence’ about National Security.

      ‘Commercial in Confidence’ translates as ‘Game of Mates’. And at a strategic level, watching our politicians is like watching an OzKick team playing a senior AFL team.

    • All navies should be getting their ships out to sea…..couldn’t think of any worse place for the crew. Don’t think war in the first place if you see the carrier groups being pushed out before they are ready…….can’t afford the crews to come down with the virus.

    • NoodlesRomanovMEMBER

      The adds on this page that google has come up with for me – face masks, Will Anderson tour and …funerals?
      Not sure what on my web history would indicate I’m interested in planning that.

  4. there are people out there madly buying up all the toilet paper, reports of shelves emptying in Sydney. this is why you need to buy some stuff.and have a stash.

    • ErmingtonPlumbingMEMBER

      A lot of my customers request I install those triggered arse washing hoses.
      But they are illegal without the install of an RPZD due to the (Remote) backflow contamination issue if the hose is left below the flood level of the toilet rim.

      Of course they aren’t much use post Corona apocalypse if the main water supply is shut off.

        • Triggered arse washing hose? What’s that got to do with a triggered hipster? I get it that most need a shower but still…

        • ErmingtonPlumbingMEMBER

          Never.

          For such a Backflow event to occur, the mains would have to be shut of, then the pipe opened up to drain out water in such a way that a siphon effect is started allowing the contaminated water in say a toilet bowl to be drawn back into the house piping,…(eg through said arse washer in a toilet bowl)
          Its a million to one possibility and yet RPZDs are required to be installed in many situations especially in industrial and commercial plumbing services.

    • looks like at the moment there are only people out there madly buying up all the toilet paper and houses

      • TheRedEconomistMEMBER

        I am definitely seeing more “bin chickens” out in the suburb looking for bottles and cans on recycling nights…

        They are beating me to it!!!!! ;>)

        Would love to get a report from Staggsy in Dubbo!!!??!!??

  5. Off to Adelaide for a week break today – any recommendations on what to do? We’re going up The Hills first for a few nights, then the remaining time in town checking out he lay of the land.

    • Go to
      -Carrick Hill. A 1930’s mansion with a major art collection. Do look carefully at the drawings and decorative items- the man who built had a taste for the gently pornographic(Augustus John drawings)
      -David Roche Foundation House Museum. Only opened in the last couple of years. Major collection of European decorative arts.
      – Central Adelaide market- unpromising exterior, and not huge, but fabulous produce, good coffee and eating etc.
      -Ayres house on north terrace- home of the first premier I think. Worth doing the tour, but the other two houses are better.
      Have a great time. It’s a beautiful place.

    • On the way up the hill might as well stop at the TV towers viewing platform for a view of the entire Adelaide plain. Handorf is a pretty little town. Birdwood motor museum is worth checking out. Monarto zoo also if you don’t mind zoo’s. And then from that general area you might as well head for Nuriootpa, stopping at the many wineries along the way. Seppeltsfield is very nice from what I remember. Lobethal has very extensive lighting show during xmas, but I guess it’s a bit late for that now. Not sure if it’s worth a trip to see anything otherwise.

      Agree with js about central market, great produce at good prices. Restauraunts around that general area very good (but pricey)
      Check out Glenelg. From There you can almost follow the coast all the way to marino rocks if you like.
      The coast down Pt Noarlunga also very nice, and if you get that far south, might as well check out McClaren Vale and wineries.
      Or if you want a day trip with a quite nice drive, head off to Victor Harbour for the day.

    • + 1 for the Central Markets.

      The gallery, museum and botanic gardens are nice. As are the Mt. Lofty gardens.

      The Exeter Hotel is good for live music, if that’s your thing, and has many Coopers on tap.

      I prefer McLaren Vale and Clare Valley to Barossa. But they are all nice. Lobethal is good, though it had a fire go through there over the New Years.