Macro Afternoon

See the latest Australian dollar analysis here:

Macro Afternoon

It’s getting ugly out there with the ASX200 having its worst day since 2008, falling nearly 8%, while other Asian equities are off by about half that as Trump enacts a European travel ban. Currencies are mixed with the Aussie, Kiwi and Loonie falling sharply alongside commodities while Yen is being bid strongly for a new daily low, gold is still struggling to make headway below $1700USD per ounce.

The Shanghai Composite is down 2% going into the close, currently at 2908 points while the Hang Seng Index fell faster, down nearly 4% to close at 24306 points, well below the previous session low and looking extremely oversold:

Japanese share markets are off about the same mangitude, the Nikkei 225 closing 4.4% lower to 18559 points, down to a four year low as recession fears increase. The USDJPY pair has moved from a stall to a rollover after its recent weak bounceback, falling back below the 104 handle and ready to head back to support at the 101-102 level:

The ASX200 has now lost more than 12% year on year – hope you’ve got some sort of hedging in your super if planning to retire soon? Today’s falls were accelerated by the news that Tom Hanks and his wife tested positive for coronavirus, staying locally in the country, with a run throughout the afternoon on almost everything (I think only 2 stocks advanced in the top 200) to close 7.4% lower to 5304 points. The Australian dollar rolled over again, making a new session low for the week (save for the flash crash), now at the 64.60 level:

Eurostoxx and S&P futures are falling sharply with limit down session probably the order of the day, as traders react to the anemic response by the Trump administration and try to make sense of what’s really coming. The US is probably the worst nation poised to lose from the virus, so really, prices should be a lot lot lower – but the weekly chart of the S&P500 shows the lower trendline from the 2008 low finally coming under threat since being in a bubble for nearly two years now:

The economic calendar will be very interesting tonight given the ECB has already cut rates, its still having its meeting which may involved some more unorthodox (or is it now orthodox?) monetary measures.

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Comments

  1. DoctorDisgustingMEMBER

    Other posters here have been saying it for a while but a chilling possibility has just crystallised for me. I just heard Scomo on the ABC ENCOURAGING people to attend the NRL and other sports fixtures this weekend. Same for Andrews letting the F1 go ahead.

    I thought “they can’t possibly be that stupid”. Then I realised perhaps they’re not stupid at all, maybe someone has done the maths and those in power are gambling that the economic calculus will be better for them if they let Coronavirus spread, the sooner the better. Maybe the reason attempts at containment have been so feeble is because they dont actually want it contained.

    I’m willing to hear a better explanation for the circus so far.

    Apologies for the repost, newbie here.

    • innocent bystanderMEMBER

      makes sense to me, but only if they have a secret vaccine for themselves.
      otherwise they are just stupid.

      • And motivated by greed.

        As to the ‘secret vaccine’: doubtful… UK would’ve had it before us. Our polies would only get access to it by fellatio

      • Arthur Schopenhauer

        They are either simply stupid, or stupid to think they and their families are immune.

        Go with the simplest explanation. They are stupid greedy simpletons.

        Their selfishness and stupidity is about to kill members of your family.

    • Mining BoganMEMBER

      Nah, too clever. It’s just a lovely cocktail of stupidity, greed and ignorance. Comes free with every house in Straya. Gav and Timmeh have it now. May Dog have mercy on their soles.

      • Had a job interview today. Seems to have gone well. If I get it, I should manage just fine. But contracts could be cancelled and my job may not be available also. Nothing is guaranteed in life. I’d like to have more time off, but I wouldn’t mind securing a job also. (Only been jobless for 3 days lol) already see desperate for another. 😃

      • To be fair, I actually required this house to pursue a business oppurtunity. And secondly, I think Gave was too early, pretty sure my purchase was the actual ring of the bell!

    • ErmingtonPlumbingMEMBER

      I think public complacency is now rocked by the news that TOM HANKS has Coronavirus.

      I mean who’s going to be next!?

      If Morgan Freeman gets it I reckon he’ll be Fked!
      We will lose that beautiful voice of his forever!

      Imagine the public angst if Koshie is the next celebrity to get it!,…or Karl Stefanovic!

      What celebrity do you guys think will be next?

    • Reading too much into it. This is a case of a grossly incompetent collection of people who through group think have mastered self deception.

    • It’s in stark contrast to Kazakhstan, a developed country of 18 million which shares a border with China, which has been very swift and strict with travel bans and has zero cases to date. The president just announced that all major public events will be suspended. The exact opposite to what Australian leaders are doing.

      • Mining BoganMEMBER

        Yep.

        Mongolia. One case. Shut up shop.
        Poland. 25 cases. Shut up shop.
        Straya. Party on Dude!

        • Coronavirus is separating the wheat from the chaff. It is highlighting the stark difference between the competent national governments which actually have some concern for their citizens and those which are run by the incompetent and the callous.

          This crisis will shatter the illusion that Australia is still a well governed place.

      • Two sides of the same coin: all for the property / population ponzi.

        Fck em all. Hope an asteroid slams straight into parliament while it’s sitting. Rex Patrick survives

    • I have no doubt the psychopaths believed that. What they miscalculated was the human behaviour to avoid life-threatening situations resulting in a much worse fate for our economy. The only human behaviour these idiots are capable of modelling is FOMO and Wealth Effect.

    • They view it as an economic problem. They view everything as an economic problem. They don’t know how to deal with anything that can not be brought back to a very narrow range of economic talking points. Sadly for us, even when there aren’t any problems except economic ones their economics is so far off the mark that they end up causing greater problems. The bushfires were beyond them. This is beyond them. It’s a farce that we are all taking part in.

      • Arthur Schopenhauer

        And yet if they shut down swiftly there would be far LESS economic impact over 12 to 24 months than is going to be the case.

        • Yep. We know that. Anyone that gives it a little thought knows that. If these guys have figured it out they can’t bring themselves to act that way.

    • drsmithyMEMBER

      I’m willing to hear a better explanation for the circus so far.

      Trump is the role model here.

      Comically corrupt. No thought for anyone except themselves and buddies. Will only act otherwise when it becomes politically advantageous to, or impossible not to.

    • Today on another thread I was suggesting that maybe the best way to spread out the infections over the longest possible time line was to avoid suppressing the virus by containment methods while the transmission likelihood was low )due to the season) and to possibly ramp up the containment methods when we were fully in the virus/flu season.
      It is easy to say that we should suppress transmission of the virus both now and later but we all know that the general public quickly gets sick of whatever well intentioned restrictions are placed on them. This suggests that the time for containment is in june/july when it will do the greatest good

    • Yep, there are two schools of thought:
      – Let her rip and be done with it
      – Contain and hammer a stake in the economy.

      No good choices.

  2. innocent bystanderMEMBER

    TP lolz.
    Went for a shop at the (WOW) supermarket today. On the way in saw a shopper with a big pack of TP on their way out. Oh, I thought, might top up my (self limited) supply. Go to TP aisle. Barren. Except for a few solitary single rolls of recycled paper bum wipe. $1+ a pop. I thinks I’ll splurge and get 2. Next guy fills his trolley, pretty much empties the shelf.
    Punch line: I gets to the check out and the checkout chick says Limit of 1 per customer I says So, if I bought pack of 12 that would have been alright? Yes she says. I give her the 2 rolls to go back on the (now empty) shelf. Corporates have no common sense.

    Saving gesture: next in line at check out offers to buy 1 for me so I can buy one and get two. I declined and offered the reciprocal arrangement. She said no too.

  3. Mining BoganMEMBER

    What a time to be alive!

    Anyhow, I’ve decided Tom Hanks must die otherwise it just gives strength to the #JustTheFlu movement. A bad death and people will take notice. Needs to happen quickly too so things happen before all of us have it.

    Tom Hanks must die. It will be a movie one day. Who will play Tom Hanks?

  4. Get a job ya bums
    Our activities (collecting boxes for storage) are down 15% in on week, huge drop off
    Customers now pushing back on project work, due to contact with Curries, more redundancies coming

  5. How far has this drop to go roughly…the virus has barely got hold here and its crashing?

    • innocent bystanderMEMBER

      well, if it drops by 7% a day it will never get to zero.
      did that answer your Q?

    • When uncertainty’s high, cut a portion of your risk.

      The uncertainty here ranges from: this virus will wipe out humanity (in which case party on and get laid) to an indeterminate economic impact which may be large but not the end of the world. Got it?

  6. migtronixMEMBER

    How handles can Morrison drop?
    7 handle gone
    6 handle gone
    5 handle prolly one more session.

    Chris Joye said this muppet would focus on the economy with laser precision – or some crap – i wish he’d stop 😂

    • Just watching the idiots on Sky News finally coming to the realisation that we are going to lock ourselves indoors rather than spend any government handouts into the economy as we did during the GFC. We are surrounded by complete idiots that honestly believed letting the virus into the country would be a lesser evil than shutting it out.

      Of course they end the discussion with “this is not ebola”. If it was Ebola they would have immediately shutdown the borders and we would all still be shopping and attending the footy. Complete fn idiots.

      • Absolutely. Imbeciles abound in Govt and in the media. This trickle down ‘stimulus’ coming in 2 months will be useless. Who will go out to spend it and risk becoming a victim of the pandemic?

        House prices will soon collapse.

        That’s the true armageddon scenario and there will be no coming back from it.

      • ErmingtonPlumbingMEMBER

        They are an odious, toadying bunch of sycophants all trying to suck off the boss better than the other guy.
        Its hard to watch but Ive watched heaps of Sky News at FMGs Cloudbreak mining camp.
        Twiggy Forrest made sure it ran 24/7 in the dry mess/dinning halls.

      • The Traveling Wilbur

        BTW I like your BTFD or die (quietyish) doctrine above.

        Exactly my thought process. But mine has watch pandemic catch the public imagination first in there somewhere too. Plus, can’t trade for s1ht so just positioning super. Finger very very itchy. But more carnage to come…. first…

    • Anyone with spare cash right now is king – don’t catch the falling knife. Plenty of downside (longer term) … medium term will be a nice trading opportunity.

  7. ErmingtonPlumbingMEMBER

    I just want to let everyone here know that if any of you get fatally infected with Coronavirus, I, and I have no doubt the rest of the MB crew, will be here to listen to the last few gurgles you tap out on your Phone or Ipad before you go.
    You will not be alone.

    • SnappedUpSavvyMEMBER

      The most paranoid of all Hardon Collision hasn’t been seen since a visit to Sydney for 45 seconds a month ago, if your out there let us know

      • Hadron CollisionMEMBER

        Guffaw Hardon Collision

        Still here – had no idea you cared so much nor had time to pay so much attention. I’m touched 🚨👀💕

        All good

        One man’s paranoid is starting to look prescient, eh?

        But you’re not alone – my mother thinks I’ve lost it.

        Keep up with your spelling studies too !

    • Agreed. And if there’s anyone here with no family or friends I’d happily accept some (or all) of your inheritance – assuming you have a cent left (after funeral costs). I promise an appropriate box (likely cardboard, but don’t worry yourself too much about that as you’ll be burnt to a crisp soon enough). Let us know your preferred send-off music – I’ll download it on Apple Music or Spotify and make sure it’s played during the service.

      • Sid Vicious – My Way
        Simply Red – If You Don’t Know Me By Now
        Wham – Wake Me Up Before You Go Go
        Rebecca Black – Friday

        • My Way – Sid Viscous? No probs – if I can’t find his version it’ll have to be the other fella’s. Sintra thingy-ma-jiggy.

  8. The Tom Hanks case could be interesting.

    If he comes out of this (as most do) with only mild symptoms, this could be a big turning point in public perception and panic among the masses. They will point the the Tom Hanks case – and with him being well-known and in his 60s – as the example that it’s really not that catastrophic after all.

      • DoctorDisgustingMEMBER

        After witnessing the sanity and community spirit of bogrollgate if Tom Hanks dies I’ll be locking myself in with a baseball bat and a can of beans

        • I’m not an expert on baseball bats but make sure the baked beans are in ‘ham sauce’ – the rest of it’s ‘for sale’ in Colesworths these past few days. Can’t give the sh*t away.

      • Is this the bit in the movie where someone sneaks into the hospital room while he’s sleeping peacefully. Next minute, asystole alarms, nurses rushing around and Tom discovered to have suffocated himself with a pillow.

          • The case is dismissed as a clear case of autoerotic asphyxiation and all the police have packed their bags and gone home for a well deserved rest. All except one, a young Palm Beach detective fresh on the beat who thinks that something doesn’t quite add up. He has noticed that there were six pillows piled on top of Tom’s face and his left arm couldn’t have held onto all of them at the same time.
            End of trailer…
            You’ll have to pay for your movie ticket like everyone else if you want to know what happens next

          • His boss, a cynical 40 year veteran of the force yells “Stop chasing your own @rse and get back on the Parrot”.

            But the kid just can’t let it go.

            He takes the crime scene photos out one more time…….

          • Spoiler alert!
            After a restless night’s sleep the young cop decides to call in sick and head to the Southport morgue which is piling up with coronavirus casualties. He uses the face mask to slip in undetected through an open back door and finds the body bag tagged with T Hanks. And here’s the plot twist.
            There’s no body in the body bag.

          • Just a volleyball and a sharkies jersey.

            “Oh fvck”, teh kid breathes. “Sh!t’s gettin real”.

            He smiles at himself: he always wanted to say that.

            But somehow it’s not as funny as he thought.

            He realised no one knows where he is, and his back is to the door……

    • The Traveling Wilbur

      So when he’s well (still) in a couple of weeks, by which time Australia will have 10s of thousands of cases it can point to the outcomes of? Nah.

      Now if it had been Warner or Clarke… maybe.

      • He’s got enough cash to be granted citizenship on arrival. They speed up the application if you already have most of it offshore.

      • Interesting point

        Not so much for Mr Hanks who is a millionaire and can pay for an ICU bed out of his pocket change, but more so for all the chinese/indian/nepali students who are here on student visas with their bare basics private health insurance

        Now we have the “force majeure” card played by the insurance companies, will their medical care still be covered?
        If not, who is going to pay for it?
        If we run out of ICU beds, will they get kicked out for the benefit of a medicare card holder?

        lol fun times

        • Good point. I’m thinking it’ll be honoured by the public system – that’s the way these medical types think. You must remember that although there are ‘budgets’ in the public system, they’re not ‘hard’ budgets. Especially in a crisis.

      • I think he has paid for the rest of the patients to be moved out of the hospital. He has already heard about the plot for the new Tom Hanks film and is taking extra precautions

    • C.M.BurnsMEMBER

      it could also go the other way. If a big number of randoms who all got photos etc with Tom Hanks suddenly start coming down with it, then the penny may drop at just how infectious this is.

      Look at the way that the NBA has shut down (1 player confirmed), 1 Serie A player has been confirmed (league was already postponed), the entire Arsenal team is in quarantine after they socialised with the owner of Olympiakos (who has since been diagnosed with Corona)

    • Narapoia451MEMBER

      Yes definitely judge the severity of the pandemic by the outcome of the 60 plus year old that’s close to a billionaire. Definitely the most rational approach.

    • If he dies – it was a coverup, because he was about to blow the whistle and admit to hollywood pedophilia

      If he survives – he received secret fetal pineal gland treatment from pizza-gate co-conspirators

  9. As an interesting aside: I learned a new word today.
    I guy was walking along the street talking with his wife/girlfriend and suddenly starts screaming at her calling her a “Rock Spider”. The screaming continues and he stomps off with her going one way and him the other but not until he repeatedly calls her a (expletive) RockSpider so I’m certain I didn’t miss hear.
    OK without Googling how many know what he is talking about?

    • Yep, a reference to ‘The Rocks’ in Sydney in an awful era marked by predatory people.
      Well, that’s what I was told.

    • So you guys genuinely know this expression?
      It was definitely not part of my vocab and I hang out in some very sus places.

      • C.M.BurnsMEMBER

        growing up in any regional town with a big “…” problem (gong, newcastle, Bendigo etc etc) you had to develop words to talk about it.

        • Maybe that’s it.
          I didn’t grow up in one of these towns and organized religion was never really part of my life.
          it certainly makes you think about what people are saying when they refer to the hidden epidemic in regional Aussie towns.
          The best definition that I found was that a “RockSpider” is an insect with a inclination for discovering and exploring small cracks.
          That about say’s it all

          • Without being patronising, roughly how old are you? The term Rock Spider isn’t new or regionalised.

          • @JohnR, Full marks
            apparently it is considered the lowest form of life in an Australian prison, something completely sub-human to be squished and stomped and shived, absolutely not a part of the organized or criminal fraternity, not welcome, not tolerated and unlikely to survive a week, if that particular insult ever gets slung in your direction.

      • haroldusMEMBER

        We once wrote a song called Ronnie’s a Rockspider, about the Scottish hamburger chain.

    • Men who sexually abuse children are called rock spiders.
      The police unit that deals with them, at least in Victoria, wear badges of a rock spider.
      I first heard stories about Pell in 1986.
      What I think should happen to him.and his extensive comrades, could not be mentioned in polite company.

    • Narapoia451MEMBER

      In South Africa we used to call Dutchmen (afrikaaners, boers) rockspiders. But most commonly vaalies because most of them came from the transvaal. Might be that, seems unlikely unless he was shouting it in a South African accent

      • Strange thing is I actually I did know this definition but it seemed totally wrong given that neither sounded South African.
        But calling a late 20’s girl (actually thin, tight body and good looking) a Paedo seems equally weird.
        On one level it makes you want to know the full story, but on second thought, do I really want to know the specifics?

        • Narapoia451MEMBER

          Hah, what are the odds. In that case I can’t help you but can’t see how the alternatives offered so far make that much sense either without knowing if she’s dallied with someone younger than the accuser who is going for dramatic effect.

    • A ‘rock spider’ is a derogatory term (used by English-speaking Saffers) to describe a person of Afrikaans origin.

  10. The Traveling Wilbur

    I should mention, I’m at an airport right now.

    With a burning desire to put in an urgent page for a Doctor Ivon Akoff.

    • How could you resist?!

      Walk on, cough a lot, wipe your brow, mumble how your trip to China recently was a waste of time …. make lots of new friends 🙂

  11. This Macro Afternoon segment is sponsored by the traveling Wilbur..chat and comment and he’ll respond!

    • C.M.BurnsMEMBER

      thank Australian mainstream “journalism” for their insanely biased coverage of the last election

      • I’d also like to thank the totally dimwitted fvckwits who believed ScoFck was worth voting for.

        • I’ll tell you one thing for nothing: I didn’t vote for that ‘tard.

          Or did I? I’m having a ‘senior’ moment – forgive me. Back in sec ..

      • Not forgetting HNH’s late pre-election call that everyone should vote conservative ’cause the ALP were all actual traitors.

        • C.M.BurnsMEMBER

          I try not to bring that “captains call” up to often. Especially since immigration is actually up, reach-arounds for China continued, Chinese students still kept coming, etc etc.

    • happy valleyMEMBER

      OMG – I am just watching Scotty from Marketing’s address to the nation from the Strayan clayton’s oval office being shown on the ABC TV.

      All good – nothing to see here with this pesky virus. I am reassured – not.

      Coffee shops will really be grateful for the handout regarding apprentices – but will any customers turn up?

      • You haven’t been here have you? We have GOMA and the Sarf Bank. And the best pizza restaurant in the country: Julius.

        True story.

        • Narapoia451MEMBER

          Hey even the mountain folk in Tazzie have some culture, Mona is great, but that doesn’t make a walk through downtown Hobart any less of a circus freakshow.

          I’ve spent a bunch of time in Qld, I stand by by my statement hah.

  12. Lewis Hamilton done good – pasting the fact the F1 is still going ahead and sets them all straight – it’s about cash.

    • macrofishMEMBER

      I hate his whinging in the track but this kind of shit he kills as he knows he’s untouchable and can say what he pleases

      • Agree. Not a fan at all but good on him for calling it as it is – in particular how the test won’t come back until after the race – coincidental. Many in his position would have just trotted out bland nothings.

  13. can we trade Tom Hanks for Andrew Bolt?

    edit: at least he called out Scomo’s speech for a damp squib…but minimising the numbers of dead (so far) rather than pushing to close the fvcking airports is soft as shvt

  14. even though I know this is too early but I still did take few positions in RRL and NCM.
    Also, took even smaller stakes in CSS and AAC – thought behind this is both are local food producers and if any industry gets unreserved support it will be food industry. If these chunts shut the food people will start killing each other over can of tuna.

  15. Absolute mayhem in markets. Bloodbath everywhere you look. A reality smackdown for the ages.

    But Oz property?

    Booming!

    Let’s check ourselves for a minute, shall we?

    When this global disaster movie starts on property prices, as it will 100%, the aura of invincibility around property in Australia will be dead forever.

    As it should be.

    I am honestly expecting a 50% drop in house prices in Melb and Syd.

    Tick Tock

  16. CORONAVIRUS … CRUISE INDUSTRY …

    Coronavirus pandemic causes high-end cruises to stop running … 9News Australia

    https://www.9news.com.au/national/coronavirus-pandemic-viking-cruises-cancels-all-cruises-due-to-covid19-outbreak/115c92ba-d1c8-4633-9c4b-5daef2b9cf7b

    Exclusive cruise operator Viking River Cruises has suspended all voyages effective immediately over fears its high-paying passengers may contract coronavirus.

    In a statement to all prospective passengers, Viking Cruises said it was temporarily suspending all river and ocean cruises between March 12 and April 30 this year.

    Customers who had booked a cruise during this window will receive a voucher valued at 125 per cent of what they paid to re-book a cruise within 24 months. … read more via hyperlink above …
    .
    .
    Cruise industry proposes travel restrictions for passengers over 70 as coronavirus spreads … CNBC

    https://www.cnbc.com/2020/03/11/coronavirus-cruise-industry-proposes-travel-ban-for-people-over-70.html

  17. SnappedUpSavvyMEMBER

    So Sith Lord Merkel says 60 million Germans can get sick and borders stay open, just pure evil

    • this is were Cumo gets his inspiration so he sends all morons to the footy. thought Germans were smarter but it seems they are in line with every other country ~80/20 ratio of morons/intelligent.

    • China PlateMEMBER

      Well after the maginot line did not stop them she’s thinking it sure as hell won’t work in reverse

  18. Arthur Schopenhauer

    “We can take this action now because we have worked hard to bring the budget back into balance, maintain our AAA credit rating and work with State Governments to provide a world class health system,” the Prime Minister said.

    Note how he subtly roped in the states to take the fall

    Let’s see where it’s at in 3 months.

    • happy valleyMEMBER

      In terms of spin, Scotty from Marketing probably leaves every other PM that Straya has ever had, for dead (no pun intended).

    • Everything ScoVid does is a PR stunt. Even the stimulus package is a stunt. Tip: look at the delivery mechanism. The $25k small business package is a grant. You have to apply for a grant. The $750 payment will be made through tax payments. Most of the recipients don’t pay tax. This payment should be made through Centre Link. This package is hollow like Morrison.

    • “the students did what we asked and quarantined themselves in third countries for 14 days”…along with a whole lot of other students coming into those countries during the 14 days they were there and mingling. Are these bozos in positions of authority really that stupid? That’d be YES

      • Was there any doubt? I wondered (briefly) whether ScoMo might just be an evil genius but I think it’s since been confirmed that he is, in fact, the dumbest PM we’ve ever had — which makes Julia a lot happier I’m sure.

  19. innocent bystanderMEMBER

    I was worried about nada.
    It’s all good.
    NRL Bankwest stadium sold out, and it looks like they turned up.
    Aussies say she’ll be right.

    • haroldusMEMBER

      I was suss about it, but then he’d had a general that day, he probably had a bottle of Marlborough SB and was sleepwalking or lost (he’s blind).

      Either that or he’s hopped up on goofballs.

    • That story should not be in the news. A sick person has a mishap. No crime there. Give him a break.

  20. Whilst some cheer on rapture I would suggest a peek at …..

    Never Let a Serious Crisis Go to Waste: How Neoliberalism Survived the Financial Meltdown
    by Philip Mirowski
    4.16 ·
    Rating details · 221 ratings · 19 reviews
    At the onset of the Great Recession, as house prices sank and joblessness soared, many commentators concluded that the economic convictions behind the disaster would now be consigned to history. Yet in the harsh light of a new day, attacks against government intervention and the global drive for austerity are as strong as ever. Never Let a Serious Crisis Go to Waste is the definitive account of the wreckage of what passes for economic thought, and how neoliberal ideas were used to solve the very crisis they had created. Now updated with a new afterword, Philip Mirowski’s sharp and witty work provides a roadmap for those looking to escape today’s misguided economic dogma.

    https://www.goodreads.com/book/show/16284953-never-let-a-serious-crisis-go-to-waste

  21. reusachtigeMEMBER

    Now that we are getting less #fakenews and #alternativefacts out of Italy and other civilized places, it looks like the virus is a creeper in healthy people. It knocks out the weak quickly but slowly attacks the strong over many days and even several weeks before they start to suckum to the virus. Now I’m worried because I’ve kept up a decent relations schedule, albeit a fraction of normal, and have had this weird respitorary thing going on for over a week. Not to mention the annoying bitter/metallic taste going on. And the kicker here is that I’m pretty strong all around really!

  22. Look at the poo struggling to breathe. I made in USD what I lost on the ASX today. Not that I care about either but I never thought my USD would go up by more than a grand AUD in less than 24 hours! If I factor in my PMs I’m ahead at this particular moment compared to 24 hours ago. That does my head in

  23. This should send this crowd into a fluster ….. a wee taste …

    A very interesting AMA (ask me anything) with a doctor in critical care in the UK:

    Without talking specifically about my unit, the critically ill patients across the UK are in a broad age mix. There are a smaller number of younger patients (30s to 40s) who are usually well, and a larger number of older patients with co-morbidities.

    Italy exceeded their critical care capacity days ago. The European intensive care community is relatively close knit – we all have friends and colleagues in EU hospitals and we see each other often at conferences and the like. The news from Italy is incredibly sad. The units are full, no operations are occurring as patients are being ventilated in theatres. Portable ventilators are being used.

    Italy recently released a set of COVID guidelines aimed at addressing resource allocation in times of severe demand and lack of supply. This is the first time I have seen guidelines in a first world country suggest that older patients (who have survivable illness) are not considered for intubation and ventilation in order to allow capacity to treat younger patients.

    This is an incredibly bleak situation – our thoughts and prayers are with our Italian colleagues – but it may only be a week or two until we are in the same ship.

    https://www.reddit.com/r/Coronavirus/comments/fgfspi/im_a_critical_care_doctor_working_in_a_uk_hcid/

    • Skip, you are right – these are grave times indeed. Anyone with elderly parents is sweating right now and the elderly themselves are sweating too. Bad sh*t is coming down the pike.

  24. Hadron CollisionMEMBER

    Jenny Mikakos and Daniel Andrew$ are either coming out of the GP looking like geniuses or with a class action against them

    Hoping Dill McLaughlin holds AFL behind closed doors (this should be nothing new for NrL lolz #amirite)

    • Arthur Schopenhauer

      Genius or reprehensible dimwit?

      McLaren just pulled their team. The drivers are criticizing the race being run. It’s going to be the latter.

      The real effects will be felt in 3 weeks, in hospital wards across the state.

  25. There’s this story that talks about fires, famine, floods, pestilence…. I think Scomo knows it.

    • The Traveling Wilbur

      Just resting. Not even limit down yet. Beautiful plumage. North American Red I believe.

      Hey, do you have any Spam?

    • This is now proper GFC-like capitulation. Everything crashing except USD.

      Best explanation I have heard for this phenomenon is not a “flight to safety”. But rather there is more US money invested offshore than offshore money invested in the US. When you get massive margin calls everything unwinds with a flood of money returning to USD.

    • The Traveling Wilbur

      Well, o’course it was nailed down! If I hadn’t nailed that bird down, it would have nuzzled up to those futures, bent ’em apart with its beak, and VOOM! Feeweeweewee!

  26. McLaren pulls out.

    Race will be cancelled tomorrow, surely.

    What a s–show.

    Everyone could see this coming except those with $ signs in their eyes.

    • “Money might be going home now…??!!”

      Yeah. what I said above:
      there is more US money invested offshore than offshore money invested in the US. When you get massive margin calls everything unwinds with a flood of money returning to USD

    • margin calls will be brutal after these falls. Many are exiting before they get the margin call as they can see it coming.
      Once FED slashes full % down to zero and others start to follow gold will start to go up again. Plus all the fiscal that is coming will also push gold up. Scumo may be playing tricks with his stimulus but once people start looting and shooting he will be forced to spend too.

      • Yup I’m still sitting in my gold stocks. Patiently waiting for a time to judiciously add to them. Observing how they are going during the rout to figure out which ones to top up on. I figure I shouldn’t abandon all hope, and that if I am still alive in 6 months time then I want to make sure my PM investments FINALLY come really good given I’ve been in gold since 2012 and have had mixed success with the stocks. It’s been a learning process 🙂

    • C.M.BurnsMEMBER

      S&P futures is already limit down for the open

      Traders knowing they need cash for margin calls will be another contributor to all these “safe” assets crashing as well

  27. Arthur Schopenhauer

    The Peachistan in says property prices are going to flatline or rise. It’s going to be QE from Tasmania to Cape York.

    • A few days ago I half-joked that in 12 months’ time the ASX will either be at 2k or 20k but I wasn’t sure which.

  28. nickel is down 4.3%. WSA will probably fall below $1.70 tomorrow.. will be tempting not to buy few.

    • Always tempting tp ‘pick the bottom’ but best not to catch the falling knife and miss the bottom altogether 😉

  29. Why not use stimulous money to build swathes of affordable or social housing? Keeps thousands in work…keeps thousands in a HOME… I already know the answer…House Prices..