Weekend Reading: 18-19 April 2020

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Unconventional Economist
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  1. I guess this is the FIRST practical question about what to do if Scomo gets the app on our phones?

    In what manner can the feds coerce us to get an app?

    • ScoMo app?

      Oh well I need to use my phone less anyway. I don’t really need to take it with me to the relations massage place or wherever it is we aren’t meant to go. I will leave it at a mortgage brokers and gain MAX Strayan social credits!

      • reusachtigeMEMBER

        Thankfully mortgage brokers and massage lounges are often right next to each other, which has always been convenient.

    • In what manner can the feds coerce us to get an app?

      Current public health order to stay at home would continue to apply to you, unless you carry a functioning phone with the app running. Random checks by police in the street etc just as they are currently asking what your reason for being outside is.

        • boomengineeringMEMBER

          Hi I’m a criminal, 1 1,/4 hours from home at Berkeley Vale and over 70yo to boot. Not one police check the whole way after 4.30 this morn.

      • Random checks by police in the street etc just as they are currently asking what your reason for being outside is

        at the moment police is not allowed to ask people any other question but the name and address and only if they suspect you broke a law. If they ask, people don’t have to answer. It’s onto police to prove you broke a law, not up to you to explain you didn’t

        • Professor DemographyMEMBER

          Emergency powers could include being able to require you show your phone app. You will have to have it if you don’t want to risk fine if you want to enjoy freedoms to move. But with everyone else out and about you will be unlucky to get caught if you are law abiding.

          • you are right, police could be given new powers including power to kill you on the spot if they don’t like you
            the problem is that such measures will need to be justified and people would need to provide a consent, otherwise government that introduces such laws would be no different than government of Kim Jong-un

          • Lols.

            https://en.wikipedia.org/wiki/Stingray_phone_tracker

            The people in this thread.

            These types of systems are already widely in use by the authorities. I say authorities because its generally things like ASIS, Signals Directorate and other more covert agencies using them.

            Not to say the data isn’t just immediately handed over to Banyule City Councilors or Coles – for Bin checking, school zone compliance and advertising.

            Which they do.

          • ASIS don’t have authority to undertake local operations. ASD are similar, although looks like the Potato is agitating to change this. Neither of them are interested in, or legally able to share, information about your bins.

          • I think Kim Jong Un’s government is the preferred model.

            Seen what Angus Taylor’s been up to while no-one’s been looking?

        • Banana ManMEMBER

          Not here in Queensland, look at em sideways and they’ll bash you. I always love it when my NSW friends talk about ‘rights’ and police…

        • Now, now, son … we all know that isn’t true.

          Follow me home orificer – I’ll show you my rotary telephone. 😉

          • But , but it is true.
            I have never owned a mobile phone.
            Who wants to be that available.
            I guess I am a bit old fashioned .

            Sigh, you are probably right, this will be my fate.

        • Hmmm, no phone, no job, no visa… it’s back to Mumbai for you.
          The immigrant tracking app?

        • Yep, having a mobile phone is a bit like being on a leash. It infuriates my missus when I don’t take it with me — which is why I very often leave it at home 😉

          • I hear ya, sometimes I leave her at home when she’s infuriated as well…it can ruin the outing.

    • Gonna be a run on old phones, that don’t have the function for apps. Or just don’t take your phone anywhere?
      This has reminded me that social distancing has ruined an enjoyable pastime of shouldering into people immersed in their phones on busy cbd streets.

        • You have to show id now, at least that is what I was told when I wanted to get one for my visiting nephew last year, so a Nokia brick is the go.

    • All Centrelink clients, or no benefits.
      ATO clients, or no Jobkeeper payment, which miggt be a round about way of checking who is getting paid and who isnt, even though it might be claimed for.

      • Mining BoganMEMBER

        Already heard that suggestion. Also heard someone say nobody should be allowed to hook into a telco’s network until they have the app.

        Stuff ’em, my phone stays at home anyway except for going to work. They’re going to be amazed at what true shut-in behaviour looks like.

    • Haroldus,

      Don’t worry.

      The infection rates in Australia since the jet setters / virus cruises were grounded / docked confirm that most Australians were avoiding contact with each other long before Bat Virus appeared.

      I mastered the art of not breathing or touching anyone or anything on PT about a decade ago.

      Clearly l was not alone.

      The live music scene in Sydney over the last 20 years is Exhibit A.

      The contact app will merely confirm this and suggest the need for a national hug a fellow Aussie day when Bat Virus is bye byes.

      • boomengineeringMEMBER

        Wow, since I met my missus she used to think I was a nutter for holding my breath whenever someone sickly was near.
        007 thanks for the company.

        • Boom,

          It goes back to when I was a driveway attendant pumping gas. I always held my breath when checking tyres due to concerns about asbestos in brake pad dust.

          “….If the Blue Sky mining company, wont come to my rescue….”

        • THIS.
          how can the “authorities” have any idea of the true infection rate unless we are all tested ?
          Up until a few days ago only international travellers and their contacts were being tested.
          I suspect we are in for a very rude shock when winters ets in.

          • Bolstrood,

            It is a very interesting question but one good reason for doubting it is the case in Australia is that there have been very few seriously ill people Identified who are not connected to overseas travel.

            If there was widespread infection outside the travel related there would be at least a decent number of very sick people admitted to hospitals that have no travel connection. It would be amazing if Bat Virus was widely present but not making anyone seriously sick in the wider community.

            That has not happened so I think the reasonable conclusion is that we have been very lucky so far and Bat Virus infections are mostly closely connected to travel.

            This will be tested over the next few weeks as the NSW govt ramps up testing (5,000+ tests per day) across the general community who report any relevant symptoms.

            I reckon they should crank up the test numbers even higher as spotting infections and isolating them quickly is critical and if the tests don’t find any infections who will complain about that?

          • I agree that’s the most likely explanation pfh. But there are alternative explanations too which should be considered –
            1. Because the virus has a long incubation period – Chinese experience showed up to 27 days! – the problem simply hasn’t shown up yet. Those hoards of sick people may yet turn up and fill up our emergency wards and ICUs. Recall also that hospitalisation seems to occur about 2 weeks after symptoms set in. Boris Johnson is a good example of this. Added to the lengthy incubation time it lends support to this scenario as a possibility.
            2. The virus causes a much greater number of asymptomatic and mild responses than previously thought, Hoards of people are infected but only the very pointy tip of the iceberg presents with severe symptoms.

          • @csfn, many studies have suggested that the mean incubation period in 5 days and that the vast majority come through by 14 days. I believe UQ is just over 7, so 75% of infections have come out within a week. From what I’ve read, I tend to believe that there is something like a factor of 10 – 100 more infections than what is being reported. Think about the new york numbers – more than 40% of people tested have tested positive, which suggests that there are thousands upon thousands of undetected cases. If only 10% of new yorkers have the disease, then that means it has infected approx. 4 million. Now there have been 17,000 reported deaths, if we double that to encompass the ones that did not go to hospital – which also would fit with the crude increase in death numbers across the state, then we have an infection mortality ratio of 0.8%.
            In addition, in New York, there have been about 660 people under 45 who have died from the virus. Let’s say that 50% of infections are under 45, which is 5 million (a big assumption, I know) – giving an IFR of 660/5000000 = 0.01%. Even if it is only 600000, then it is 0.1% – so very, very small. I’m all in favour of lockdowns for at risk groups, but I think we can relax it a little for those under 45.

      • Dominic,

        It is more specific than that. Apple built circuits for detecting gold bars into the first iPhone at the request of the BIS.

        So they know where you hid them!

        🙂

    • If you don’t, they’ll track you through your EMEI number then send an ultralow frequency to the phone and you’ll Engadine your dacks.

    • Does that mean they will improve the mobile coverage in our area? Flat out getting an SMS out let alone an app working. I think a lot of people are trying to share the mobile data and nothing is working. Thanks, Optus. Yes, I live way out west. 20km from Brisbane CBD. Was getting better coverage on 2g and 3g but they don’t seem an option anymore.

    • Carry the phone in a chip packet – preferably empty..

      Enhance your claim to being an “old salt” when you actually answer it.

  2. https://libertarianinstitute.org/articles/lock-out-below-lockdown-economy-plunging/

    But no matter how many times the out-of-control politicians, government-funded disease “experts” and the mendacious mavens of the 24/7 cable TV Death March deny it, the Covid-19 is just a highly contagious and somewhat virulent flu that mortally threatens only a very small share of the population — namely, the elderly who already have multiple life threatening diseases and conditions or what are called co-morbidities

  3. I reckon the thing to do is install Scotty’s app on one of those phone watch thingies, and install the phone watch thingy on the tail of your dog. Then let your dog loose to roam the neighbourhood.

    If everyone does that, just imagine the effect! Dogs are always getting with 1.5m of another dog to sniff their bum. Scotty’s app would quickly get discredited when virus transmission fails to match that predicted by the app.

    • migtronixMEMBER

      You have no idea how this works. The minute your actual phone hits the same cell tower you’re exposed.

      I can write the Scala code to prove it….

    • 24 hours after Operation Dog Tail started……..knock knock……Claw says “who’s there” in best cheesy voice…….”open up [email protected] AFP here” in deep authorative voice…..Claw soils undies……dog howls……tear gas through every window…..2 flash bangs…….wham wham……door open……Claw tasered multiple times….pepper sprayed 2 more times……….dog shot……tail/watch into evidence bag……Claw tasered a few more times……pepper sprayed again…….detained indefinetly at Camp GuantanoXmas Island…….for public nuisance, not following National Social Distancing Protocol and interfering with dogs nether region……waterboarded for MB knowledge and links…….”electrically stimulated” for complex online presence information and passwords……..re-education/indoctrination started immediately ……selected for multiple Covid-19 vaccine human trials….Fortress Oz now a safer place….. To be continued.

    • Yep, it’s not hard. Still there are people in existence who seriously believe that the economy can be improved by adjustments in the money supply and, as long as this remans the case, we are essentially doomed. Secular stagnation I think they call the result of such policy. Secular stagnation has nothing to do with policy mis-steps, of course, it’s just ‘a thing’ – a force of nature.

  4. migtronixMEMBER

    Burn it all…

    Two captured white guys in their 70s are tossing a coin to run the world?

    Burn it! Kill the boomer infection.

    • Here’s the thing Migtronix, and it’s perfectly layed out for you on real left wing YouTube channels like Rising on the Hill and Jimmy Dore. You only got Biden because the media was able to convince all leftwingers that Trump is the devil and now is not the time for change because you need above all else to beat Trump. And you all feel for it.
      Realty is that History will show that Trump was just another USA president except he had less grace than others and found Twitter.
      To bad for you it’s more fun to be outraged every time Trump farts than to look at implementing real change.

    • I got news for you, the white guy trying to rule the world is already ruling the world. Where do you think the tracking database idea comes from? To be implemented in a community near you…

        • Raised 1.5 Million people out of poverty.
          Free health care, education and middle class standard of living for a fifth of the planet.
          Worlds best infrastructure,
          Worlds largest manufacturer.
          Worlds largest exporter.
          Worlds largest economy on price parity.
          Hasn’t invaded a country in centuries.

          VS
          30% in abject poverty – more than 50% below the poverty line.
          Collapsed infrastructure
          No social health care.
          Collapsed welfare system.
          Collapsed tertiary education system
          Invaded over 100 countries – many more than once
          Obliterated almost a dozen countries entirely.
          Killed and displaced hundreds of millions of people.

          When you remove the most powerful propaganda machine ever created – western media – and look at the facts yes China is miles, and miles ahead.

          A good example is Tianmen square estimates are between 200-2,000 people killed in a population of 1.5 Billion.
          USA kills that number of people on any given day – in any number of its ongoing wars which currently total 4 with at least 6 more “theaters” of war.

          MAO’s Great Leap Forward which was occurred during the most severe drought in Chinese history resulted in 20 Million deaths. This is attributed as a deliberate state run pogrom of massacre. Extraordinary historical re-writing of history. Something which occurred to China as they struggled to overcome the 200 years of incredibly brutal western colonialism that had destroyed their country. No mention of that either – HONG KONG.

          If the very same – exactly the same – standards were applied to even the UK – whose actions resulted in the deaths of 2 Million Indians / Pakistanis during their partition, 57 Million as a direct result of their Indian taxation, genocide of the American native Indians, Genocide of the Australian Aboriginal, 400 years of brutal Slave Trade – and the list goes on and on and on – from Palestine, creation of Israel, partition of Persia, Afghanistan, installation of the Raj, House of Saud, Suharto, etc, etc, etc, etc.

          • Whip – you’d likely strengthen your argument if you did not make up stuff. Who ever said China was in a drought during the great leap forward? I’ve actually spoken to a bloke who conducted a state-sanctioned tour through the worst of the provinces in 1962. He told me that everywhere he went there were no signs of drought. Aggregation of Chinese government records strongly indicate the death toll from the famine was more than 40 million people, and at a time when China was increasing its exports of primary products to the USSR. There was no drought, but there was one of the worst famines in recorded human history.

        • I’m not talking about Trump, I’d welcome him here. Trump doesn’t rule the world but a few other heads are gunning for it right now. Go research who is pushing for a worldwide tracking database.

  5. COVID -19 … WHERE DID IT COME FROM ? …

    COVID-19 Is A Man-Made Virus: HIV-Discoverer Says “Could Only Have Been Created In A Lab” … Zerohedge

    https://www.zerohedge.com/health/covid-19-man-made-virus-hiv-discoverer-says-could-only-have-been-created-lab

    … a contrary view …

    Facebook ‘Fact Checker’ Worked At Wuhan Biolab; Ruled Out Virus-Leak While ‘Debunking’ Articles … Zerohedge

    https://www.zerohedge.com/health/conflict-interest-facebook-fact-checker-worked-wuhan-biolab-ruled-out-virus-leak-while

    • Nah mate – everyone knows its 5G towers.

      Also the earth is flat, vaccines cause autism and Global Warming is a secret mission to take over the world by the UN and install one world government.

  6. haroldusMEMBER

    Renovators seem to be drinking cases of Clare Valley Cab Sauv, in addition to the Coopers Green and the chardies.

  7. NEW ZEALAND CORONAVIRUS CONTROLS: LEVEL 3 NEEDS TO BE MORE REASONABLE …

    Protecting lives and livelihoods: Data on why New Zealand should relax strict Covid-19 lockdown next week … OPINION * Martin Berka … Stuff NZ

    https://www.stuff.co.nz/business/opinion-analysis/121099329/protecting-lives-and-livelihoods-data-on-why-new-zealand-should-relax-strict-covid19-lockdown-next-week

    • Martin Berka is a Professor of Macroeconomics, Head of School of Economics and Finance at Massey University

    Access recent MB post …

    https://www.macrobusiness.com.au/2020/04/macro-afternoon-859/#comment-3806541

    New Zealand’s coronavirus response: Considering the economic costs …

    … and why the restoration of (as much as realistically possible) normal economic activity is important …

    … while commending the government for its handling of the issue to date … read more via hyperlink above …

    • boomengineeringMEMBER

      Gavin, WE story for your perusal.
      Finally losing my nerve.
      In the surf before 5.00am yesterday, large nasty pitching waves were closing out across the whole beach in a thunderous dumping. Kept getting pounded into the shallow sandbank trying to get out the back for about 20 mins by its chunderous power with sand inside the wettie. Finally a break in the onslaught and out the back I was and light was starting to emerge on the horizon. A young guy came out and caught a smaller one, then when the terror returned he couldn’t paddle back out and noticed after every wave he was closer to shore going backwards. As there was nowhere to go except over the falls decided to paddle to North Curlie but it was no safer. By that time a crew had accumulated. Then the bombs came. One guy out the back went for it and thought to myself the idiot is going to kill himself getting thrown then slammed, but no he went down the face at extreme speed. I knew the daredevil. Johnnythekneelo. When over to him after it closed out on him, his board was damaged but he wasn’t.
      BTW He is in his EIGHTIES.

  8. Laissez-faire Sweden today notched up double the coronavirus cases of sorta-kinda-locked-down Australia (13200 to 6500). 18 days ago they were level with us.

    Deaths: Sweden 1400, Australia 65

      • From this and other comments of yours – Are you saying the building industry is locked down and shouldn’t be or that the building industry is not locked down and should be?

        • It’s not locked down and due to the fact that only two people in the building industry every had the virus it was a clear over reaction for anyone to call for its lockdown especially due to the fact this site already bemoans the fact that our infustrctor is way behind. This period has give us a chance to catch up a little

          • All infections from foreigners ended on the 19th March with the borders closing. All contacts were traced and isolated by the 24th March. On the 26th March hospitalizations in Sydney were 1200 – in the two weeks that followed – with no foreigners only local contact – they EXPLODED by over 120%

            Mainly due to construction workers.

            But yeah – enjoy the mythology – if it works for you thats great.

    • slowly their active cases curve is flattening at soon they hit the health care limit and than in few months majority of population will gain immunity making SARS-CoV-2 not much different than a common cold

      what’s our plan?
      stay locked down until … forever …

      • “ Dr. Mike Ryan, executive director of WHO’s emergencies program, said scientists are also still determining the length of protection antibodies might give a person who has been infected with the coronavirus.

        “Nobody is sure whether someone with antibodies is fully protected against having the disease or being exposed again,” he said.”

        https://www.cnbc.com/2020/04/17/who-issues-warning-on-coronavirus-testing-theres-no-evidence-antibody-tests-show-immunity.html

        • what he says is just like in the case of so many other diseases

          there is more than one type of immunity and the “hard immunity” when people keep active antibodies forever is not the most common kind
          beside antibodies, following an infection, our immune system develops and keeps forever B and T memory cells that help fight subsequent infections much faster making reinfections milder and shorter. Memory cells can last for 50 years or more
          So, even if there are no antibodies left at all following an infection we always gain immunity that makes subsequent infections non-fatal
          https://en.wikipedia.org/wiki/Immunological_memory
          there are some good references on that wiki page

      • Do you eat crayons ?

        Yes – Coronavirus is just like the common cold.

        Fck me – the level of stupidity displayed by some people on this board is beyond belief.

        • All humans die. Why not do it now, it’s more efficient! Go virus go!

          Any who don’t die of it can leap off a tall building! After all they were going to die eventually, probably of the flu, so why wait?!

    • Perhaps a better and more ceteris paribas comparison to Swidiocracy is Norway and Denmark.
      Norway makes the comparison particularly bad for Sweden because Norweges have had a much higher testing ratio per capita than DK or SWE.
      Swe is actually racing on par with India and given the hygiene and health conditions, India looks quite well in comparison. Dare I say that testing ratio in Sweden is probably hiding the severity of infected recognised hence the over 20% death to recognised infections (one of the highest in the world).

    • According to Dr X, Sweden will be all sorted in 3 days, and no worse an outcome to Australia despite no lock down.

      3 days… its going to be a /\ shaped recovery! starting any day in the next day or two.

    • Oil was collapsing anyway and was headed for $0 as we transitioned to electric.

      70% of all oil production goes towards private car transport.

      The single biggest factor maintaining the oils price over the past two decades and a half has been the US foreign policy of eliminating or isolating all competing “oil supply sources” in order to extract maximum revenue from the resource before the transition to electric occurs.

      That policy can be seen laid out in the US foreign policy application towards Venezuela, Yemen, Syria, Iraq, Iran, Libya, Russia, etc, etc and above all else Ukraine.

      • +1 when people own Electric cars they won’t want gas powered cars again. Unless it’s for classic/nostalgia purposes.

        • with the way ice engines have developed in terms of overall efficiency, your common commuter Honda Jazz – like car have a chance to make it uneconomical to drive coal powered electrics and to kill them in greenness. Annualised it by the same method used for batt capacity and charge speed increases, a decade from now 1 litre of petrol will last a week of commute.

          • I’m not sure you can apply Moore’s law to ICE efficiency gains, but I take your point.

        • He may actually be more forthcoming because he will “plausibly” be able to argue that all these new cases came from foreign travellers (as is already happening in Guangzhou with some west Africans).

          “plausibly”:The Chinese are smarter and more experienced than Trumpy when it comes to brain-washing and over the last couple of months the CCP has been constantly pushing to the Chinese people that it had defeated the virus and so if the COVID comes back it has to have been brought back by foreigners. There are lot of idiots in the US who swallow whatever Trumpy says but not to the same extent as the Chinese people believe what the CCP tell them.

      • Lets get in early and blame China for the US opening up too early.

        Just wow. Seriously wow.

    • There is a plan to re-open Texas like there is a plan to fight global warming.

      Aint nothing happening – and it is – it’s by accident.

      Trumps plan is a 100% recipe for failure – “Cases going down, ability to test all people”

      That’s it – that’s their plan.

      Immediately re-open restaurants, cinemas and surgery.

      Meanwhile – China has declared a resurgence in cases as has South Korea.

      • I recently queried a commenter on what was the so called ***herd immunity*** passed on from the black death and how long it took for it to present.

        Answer is ***herd** immunity [suggestions of broad distribution] to HIV in about 2% of the European population after peaking in Europe from 1347 to 1351, not to forget the Plague of Justinian (542-546).

        Anywho its a rollicking transformative period for all concerned – https://en.wikipedia.org/wiki/Black_Death

        • comparing black death and covid 19 is quite mean

          first fundamental difference is that Black Death is a bacterial disease caused by Yersinia pestis that is spread around by fleas carried around on rats
          Black death had mortality rate of 50% to 70% in the past.

          These two facts make “herd immunity” in case of Black Death a bit tricky. The fact that pathogen can survive on some other species means 100% of population needs to go over the disease, and mortality rate of 50-70% means that many need to die from it

          Now back to novel coronavirus:
          Virus is spread only person-to-person (unless you kill and prepare bats for dinner) – this means that virus loses ability to spread when a certain percentage (lower than 100%) gets infected. Mortality of 1% or 0.1% means that almost everyone will survive.

          Even if SARS-Cov-2 doesn’t create a “hard immunity” so people can get reinfected but have mild and short symptoms during reinfections that would mean that once everyone gets it, the virus would be potentially dangerous only for those without previous contact with the virus, so little kids that don’t die from the virus anyway

          SARS-Cov-2 is just a glorified common cold that due to it’s novelty presents a danger for people who would be in danger of other common colds if they never got them previously in their lives.

          • Gotta love your scientific based approach of “they were dead anyway” – all hands to the oars of the economy and damn the torpedoes.

            For all your loose conjecture and narrative spin the second wave is where the data really counts, followed by the number of years it persists. Till then.

          • Right, so Covid19 is no longer “just the flu”, now it is “just the common cold” (but more glorious!).

            I’m starting to think you aren’t really that sort of doctor…

          • @ arrow2
            I never said it’s just like a flu – It may have similar initial mortality like flu but it was always clear it’s different in other aspects

            and as per common cold comparison: there is no single information available so far about novel coronavirus that makes it different from other coronaviruses common colds – not a single, none, null, zero and if you have any you are welcome to present it

          • @skippy

            I like your non-arguments coated in ‘hard words’ to make them sound like strong arguments

          • Vigour is DocX’s main strength. Endless repetition is another.

            People prayed repeatedly and vigorously to the ancient Egyptian gods for over 3000 years…

          • and now you support scomo’s plan that only includes thoughts and prayers to end the epidemic ?

    • It’s going to be a good day, Skip posted a link that’s worth reading, and without any indecipherable comment to go with it!

      • Pointing out doctrinaire orthodoxy does challenge some peoples concept of value – your mileage may vary.

        PS. Per se Musks dramas with thinking Mfg is akin to rolling out software to scale …. cop that health care approach … chortle.

          • Is Orthodoxy a dominant ideology that has lasted for decades and become so entrenched that it slowly develops into a deep cultural identity. Is it a ‘common sense’ idea that has become an avowed belief, religious staple.

          • Wellie it signifies a sort of blind adherence to constructs in an almost devout mental state.

            Per se one of MB’s devout AET commenters recently proclaimed that his [their] economic laws [tm] were immutable truths beyond retrospection.

            Meanwhile ….

            “One of the main cruxes of economics laws — and regularities — is that they only hold ceteris paribus. That fundamentally means that these laws/regularites only hold when the right conditions are at hand for giving rise to them. Unfortunately, from an empirical point of view, those conditions are only at hand in artificially closed nomological models purposely designed to give rise to the kind of regular associations that economists want to explain. But, really, since these laws/regularities do not exist outside these ‘socio-economic machines,’ what’s the point in constructing these non-existent laws/regularities? When the almost endless list of narrow and specific assumptions necessary to allow the ‘rigorous’ deductions are known to be at odds with reality, what good do these models do?” – snip

            https://larspsyll.wordpress.com/2020/04/16/the-laws-of-economics/

            Sadly due to the ***Orthodoxy*** millstone [placed around – our – necks] it seems knowledge is last thing being applied to stave off a known occurrence – from a historical reference – of a virus. Some are even looking to game it for individual profit and market share so they will be best dressed when it all blows over because its deemed rational by the aforementioned.

          • It’s the endless (chortle) that gets me. This isn’t the 1800’s. Just a breezy LMFAO will do.

          • Good to see you address the link to Lars and resort to umbrage about my use of a word to express my mirth at the equivalent of economic evangelists Dominic.

            Kudos … chortle

        • Humans have always been superstitious.
          It’s a nice story to create closure on a troubling issue.
          Anything that happens can always be translated back to the infallible reasoning provided by the immutable superstition.

      • ErmingtonPlumbingMEMBER

        All his posts are worth reading and some of us, including me, enjoy cryptic crosswords.
        Don’t listen to the nay sayers Skip,..your OK buddy.

        • EP …

          They might consider this an example:

          When the helcopter flies over Queens it is loaded with $1200 checks, but when flying to the Hamptons it takes on board $1,700,000 checks.

          “For those earning $1 million annually, a tax break buried in the recent coronavirus relief legislation is so generous that its total cost is more than total new funding for all hospitals in America and more than the total provided to all state and local governments,”

          https://www.forbes.com/sites/shaharziv/2020/04/14/why-are-rich-americans-getting-17-million-stimulus-checks/#17c12815665b

          This is from Forbes no less, can you smell the – Natural Order – in the air – ????

        • China PlateMEMBER

          Yep fully agree EP

          To paraphrase – to increase the economic pie so the deplorables can eat more cake – one of your best skip

          And i can not go without mentioning another cracker and again to paraphrase – HR was invented by the 1%’ers so they would not have to interact with the plebs

        • @Ermo – If you perceive yourself to be acquiring knowledge from words ascribed by Skippy on this medium then you are entitled to enjoy his transcriptions. Personally my fleeting moment on the timeline of humanity is perceived by me to more well spent reading the utterances of those more capable to curtailment of waffle and word salad.

          • Based on what … oh yeah … your personal views and feelings …

            BTW its incumbent on you to provide a basis – for any of it – if your going to extenuate it past your own personal beliefs. Not saying you have to agree, but, if your selling – marketing that view past that point you have to make specific references with allows others to examine how you arrive at it.

          • Yeah it’s a opinion, my opinion. You are lacking comprehension skills. Your post is clear evidence of that.

          • Yeah zaxxon the value added context is sooo compelling in its emotive gesture, epic amounts of gravitas.

            I unpacked it just to show its value – zero – and then you attempt to make out like I misunderstood its meaning at onset – giggles ….

          • Because you don’t like having your beliefs challenged because that might indicate some failure on your part, usual doubling down prevalent in path dependency.

            PS. you don’t seem to grok that you did not respond to me – the subject – but to EP in questioning his personal perspective, albeit take umbrage at having yours taken to task – double standard?

      • I had never known that HIV hit Europe so hard back in the middle ages. Must have been the Roman bath houses.

        • ErmingtonPlumbingMEMBER

          No I think you’ll find it was the spread of Catholicism.
          The massive increase in man on boy anal led to its explosives spread across Europe,…I think I read in a history book somewhere.

        • Ha … the immunity transferred from the black death was not realized till the advent of HIV E.g. took awhile to present and then only effected 2% of the total population after all that time.

          Hence the suggestive meaning of Herd Immunity being wildly inaccurate in its use on the unwashed.

          • Yes it gets more complicated as you drill down.

            https://www.sciencemag.org/news/2014/02/black-death-left-mark-human-genome

            and

            Jill Gatwood, former HIV Epidemiologist (1987-2004)
            Answered Sep 30, 2019

            Descendants of those who survived the plague in Europe are NOT immune to HIV. You may have heard about the fact that 1% of people descended from Northern Europeans, particularly Swedes, inherited a gene that provides them with immunity to HIV infection. The gene is CCR5-delta 32, which is responsible for the two types of HIV resistance that exist. This gene interferes with HIV’s ability to infiltrate immune cells. If you think of HIV as a key, the mutation alters the keyhole on the outside of the cell so that the virus can’t get inside. Those that inherit this gene from both parents are homozygous carriers of the mutated gene, and are not able to contract HIV if they are exposed to it. Another 10 – 20 percent of people with European heritage inherited a copy of the gene from just one parent. This doesn’t provide complete protection against contracting HIV, but does reduce the carrier’s chances of infection and delays the progression to AIDS. The mutation has not been found in Africans, East Asians, or Amerindians.

            This accidental, harmless mutation has been in existence since up to 3000 years before HIV has been around. It may have been passed on because it protected certain people in those populations from an ancient epidemic of some disease we don’t know about anymore. Whatever it was, it may have behaved like HIV or targeted the same cells, because those who survived that ancient disease passed on their genetics to future generations who are now again benefiting from it.

            Research done on people who have this mutated cell led to the development of a drug to treat HIV which interrupts the replication of the virus in those who are already infected. The drug acts to interfere with the docking of the virus to the immune system cell (I worked as a clinical researcher on this drug and described this study in one of my earlier Quora responses).

            Another example of an accidental genetic mutation providing serendipitous protection from an infectious disease is sickle cell. Those who inherit this gene from one parent don’t have health problems from the sickle cell, but it does provide them with protection from malaria, which is endemic in parts of the tropical world. Unfortunately, those who inherit the sickle cell gene from both parents often do suffer from serious health problems. So it’s a mixed bag.

            To which I would add some might consider what acceptable fail ratios in science or engineering are allowable in critical applications. Additionally it seems some are arguing that late stage cancer patients should not receive palliative care so they have time to make end of life arrangements or spend time with loved ones because of how it might effect investors.

        • Stewie Griffin

          A lot of these viruses bind onto specific protein receptors that are common, because the mechanism already naturally exists for the cell to open or unzip at specific sites for specific reasons. Apparently in the case of Wuflu and HIV, both apparently focus on the ACE2 cell protein receptors in conjunction with an enzyme called furin that specifically unzips the extracellular membrane and allows the virus to inject its contents.

          https://www.sciencetimes.com/articles/25087/20200322/covid-19-up-1-000-times-strong-sars-scientists-europe.htm

          Thus an earlier attack wave of viruses, using a similar attack vectors into cells may establish some natural immunity to some population groups over others, for later unrelated viruses.

      • Wow

        And the obvious implication that they refuse to state in the article

        48,000 – 81,000 estimated cases
        Covid deaths Santa Clara county 69

        Real mortality 0.08 – 0.14%

        Literally just the flu

      • so there are 50 to 80 times more people infected than official numbers (these numbers can differ greatly based on testing policies)
        other option is that there are 1000 to 2000 more infected than number of people who died from it

        what that means?
        that means that countries like Italy or Spain may have as many as third of population infected and in some areas already close to 70% or even more.
        even countries that went with flattening the curve policy like Germany and Sweden have 10% to 15% of population already infected, which means in 3 or 4 more months at current levels of new infections and deaths they’ll have 70% of population with immunity.
        how about us: we probably have somewhere around 50k infected and at these rates (few thousands new cases daily) we’ll need years to reach 70% of people with immunity

          • See, the problem with your argument is your “maybe”.

            Maybe you are right. But we don’t know.

            And the cost of you being wrong – in human lives, which is actually what matters – is very very high.

          • Give up Arrow – they’d prefer to live in their fantasy land, totally free from the responsbilities for the consequences that decision makers have to take into account.

          • Yeah true Maun.

            I’m going outside to drink coffee in the sunshine and look at the mountains. 😁

          • Their efforts are wasted on the shut-in population here. Surely those denying the severity of covid would be better placed protesting like the Americans in Michigan.

          • who is denying severity?
            It’s just that we cannot d anything to prevent most of those deaths no matter what we do
            on the other side we can cause much more suffering and deaths while pretending to be try save some lives

            at the end of the day, similar percentages of people are going to die from covid19 in all similar countries,
            just in some countries people will die sooner with less consequences onto the others and with less other indirectly caused deaths

          • DoctorX the Macrobusiness readers are so desperate for a deflationary Armageddon that they viciously reject any data or logic that suggests we could very reasonably avoid it

            Sort of like doomsday cultists

            It’s kind of talking their own book, because they’re obviously asset poor and relatively cash rich but they haven’t yet realised that the actual outcome is going to be the opposite (further debasement of currency and concentration of wealth )

          • Under current response scenario theyvare going to get their doomsday, not because the virus is so damaging but because measures are

          • Coming no need for deflation where it counts with a JG, now on the other hand those promoting a UBI for the long run might consider the inflation that would create without any productivity attached to it.

  9. Sorry but the virus seems to be getting its second wind as it spreads to ever more countries……….supply of testing re-agents seems to be the sticking point……still no idea of any immunity

    https://twitter.com/RemiGMI/status/1251105845632532481

    UQ guy running the sewage virus marker program in SEQ says plenty of indications in suburbs with no detected cases…….we need to be testing fives times our present activity in a truly random method.

      • Those 1200 people died in their homes in February but were never tested. France and New York also recently updated their statistics to include such cases. UK has a huge number of unreported deaths in aged care facilities, which are still not included in the statistics but probably will be eventually.

    • Now there’s a job that wasn’t on my Vocational Guidance list at school ‘ Sewage Tester” !

        • One teacher who had it in for me, told me I’d only ever be a gooch smoocher, maybe a taint painter if I was lucky……

          I left school and became a clam slammer! I showed the bastard.

      • rob barrattMEMBER

        Yeh, but where do you learn the trade? I haven’t seen many job ads for ExcreMentors recently..

    • DingwallMEMBER

      Yep agree.

      I also give thought to the swimmers/surfers still sneaking out at Bondi and wonder what they think as they lick their lips readying for a wave……………… then notice a flotilla of turds float by…. wrong current direction pushing it all back to shore

      • ErmingtonPlumbingMEMBER

        Bondi cigars are a thing og the past thanks to the deep ocean outfalls.
        Before they were put in I surfed regularly at Curl Curl beach arguably the worst affected Northern beach from the night time release of raw sewerage from the North Head “treatment” works.
        Early morning surfs in a southerly swell produced a variety of sore throats, ear infections and Pink eye in the day.
        You could smell it in the water.
        Being the most southerly pointing beach and jutting out a bit a SE wind would blow this filth past Manly and Freshwater and straight into Curly.
        My teenage immune system was given quite the regular workout.

        • DingwallMEMBER

          Not that long ago ……. promises promises
          Twenty years after the NSW government first promised to fix the problem, 4 million litres a day of untreated sewage continues to be released into the sea from cliffs between Bondi Beach and South Head at the entrance to Sydney Harbour.
          Raw sewage from four of Sydney’s wealthiest suburbs – Watsons Bay, Vaucluse, Rose Bay and Dover Heights – is discharged at the shoreline despite Sydney Water commissioning report after report over three decades into corrective works required.

          As usual the rich sh!t on those below 🤢
          https://www.smh.com.au/national/nsw/raw-sewage-released-near-bondi-as-decades-of-government-dithering-runs-on-20161216-gtcvqy.html

          • ErmingtonPlumbingMEMBER

            Wow thanks for that Ding.
            I thought all the on coast outfalls were ended in the the early 90s along Sydney’s coast.
            Ive only surfed Bondi 3 or 4 times when I had this girlfriend in 91 that I used to pick up from a near by college at the end of her day.
            I don’t remember the water being filthy but I do remember the lineup being the most multicultural I’ve ever seen.
            Other than those times the only other surfs Ive had on the South side was several dozen before and after work surfs along the stretch of beach from Cronulla point up to Wanda when I was a forman working on the Sutherland Hospital redevelopment in the early 2000s.
            The Northern beaches is heaps better.

      • But at least they will have put primary screening on these outfalls. 100mm x 100 mm mesh.

        An issue with Melbs main treated sewerage outfall near Gunnamatta is that the outfall water was too pure!

    • The FNG.MEMBER

      https://www.abc.net.au/news/health/2020-04-17/coronavirus-vaccine-ian-frazer/12146616
      “One of the problems with corona vaccines in the past has been that when the immune response does cross over to where the virus-infected cells are it actually increases the pathology rather than reducing it,” Professor Frazer said.
      “So that immunisation with SARS corona vaccine caused, in animals, inflammation in the lungs which wouldn’t otherwise have been there if the vaccine hadn’t been given.”
      “Yes, you get antibodies after a [cold] infection, and yes it lasts for a while, but it’s not lifelong… sort of months rather than years,” he said.
      https://www.youtube.com/watch?v=3p6KAC4Si6E

      • Thanks.

        I see there is so much we don’t know about this virus, including about infection rates, death rates, whether immunity develops, whether a vaccine will work, and whether the virus causes infertility or long term organ damage…

        … that the only sensible and precautionary approach is to OPEN UP SO WE ALL GET IT FAST …. BEFORE we have answers to any of the above questions!!

        Protecting ourselves until we know more is for wimps!

        /sarc off. Get into it DocX / Coming.

        • Sigh

          Will you ever get it

          This implies there’s not going to be a safe or effective vaccine

          Which means that everyone is going to have to be infected anyway

          And given that mortality rate is barely affected by mechanical ventilation , it makes far more sense to get it over with (maybe isolating the elderly)

          • “Will you ever get it ” – if you had your druthers: yes, and imminently (as you, yourself explain).

    • “Indian researchers have already tried to publish the results of the analyses that showed that this coronavirus genome contained sequences of another virus, … the HIV virus (AIDS virus), but they were forced to withdraw their findings as the pressure from the mainstream was too great”

      As always, MSM etal are the enemy of the people. It has to die. Surprisingly it hasn’t with all the modern alternatives.

      • Those findings already got published. Of the three sequences, one occurs commonly in many viruses and the other two were short and of such low entropy that they could be expected to re-occur randomly.

      • Um…isn’t it you that’s called BS on any number of people who said this virus is out of lab?

      • He may be right. He’d know more than any of us. I’m sure the radio signals he’s talking about aren’t Triple J.

    • http://www.abovetopsecret.com and http://www.prisonplanet.com are also places I get my news sources from.

      Lizard people have taken over the UN and are pushing a one world government with vaccines that cause autism through contrails coupled with the 5G towers that spark fluoridated water to make the world flat which was only made 5,000 years ago.

      Zerohedge is fine for economic analysis – which must then be put through rigorous fact checking (99% of the time its deeply lacking or outright misleading) the rest of their content, like Macrobusiness – is wild Alex Jones conspiracy tard crap designed as click bait to keep the ad revenue rolling.

      You need to understand that basic concept.

    • migtronixMEMBER

      He’s super effective too 😂😂

      “With patriotic songs blaring from car radios, they chanted “lock her up, lock her up”” – good luck with that

      • It’s funny you think this is Trumps fault. Isn’t health a state responsibility. Unless you think he should try and take the power away from the states?

        • This.
          Though his public statements give the perception that he is indeed controlling but also responsible for everything. A doubled-edged strategy.

    • ErmingtonPlumbingMEMBER

      You’re starting to sound a little bit rattled and unhinged of late Reusa.

      What wrong matey?

      Are you OK?

      Is your Investment property portfolio not delivering the standard of living you’ve become accustomed to anymore?

      Oh,..ya poor little fella.

    • Australian men are now the softest on earth.

      More like women.

      No surprise we’re being taken over.

      • Rich4 – I reckon you might be the decimal equivalent of a two pound pom. The English lower classes produce the greatest whingers and the ones that migrate here generally are the worst of the worst. And you’re as bad I’ve encountered. If you’re not a whinging pom, then you are perfect facsimile of one.

        As for our women, tough as tough can be, why so many Aussie women are champions in their chosen fields.

        • 6th generation Australian one side. 2nd the other. Watching my country die.

          Yeah strong women sadly in Australia equals weak men. And strong men can’t complain about it without being called a whinger.

          THIS IS now Australia. Don’t be surprised when you lose everything you’ve got.

        • Tough women? lol. Competing against each other and not allowing men to compete means stronger people are coming (invited by strong women…lol) to Australia and taking the whole lot.

          Mark my words. That’s where we’re headed, and soon.

  10. This will be the last report from the front.
    We’ve had 8 admissions total to our ICU with covid
    3 died.
    All 3 were from nursing homes.
    And there’s the rub. 20 years ago there was an understanding that folks from nursing homes didn’t go into ICU. They passed on. I think we need to deal with death better.

    • This was certainly the advice coming out of Italy. Unless you have rigorous procedures in place to handle corona patients in isolated wards, you should make then stay in their own homes rather than bringing them to hospital where they can infect other, vulnerable people.

    • It needs to talked about more for sure. Talking to dad’s nursing home boss, she says no one wants to be there, they know their quality’s done. A lot request Do Not Resuscitate, but the Families get all emotional & override where they can & the home has a duty of care…..

      • Exactly. The families guilt is assuaged by wanting their parent needled and poked.
        I’ve wiped a lot of bottoms in geriatric wards and I can tell you I won’t be going there. Ill check out b4

        • My father- in – law is 97 and very, very demented( eats, shits, smiles, doesn’t recognise anyone).
          In the annual review, l was asked if l would like him resuscitated if required- definitely not!
          The manager then told me that some families do want their family member resuscitated.
          But the biggest problem was staff- a significant number of staff( often new or agency fill ins) would panic, and initiate resuscitation.
          The management had fixed the problem by making sure there was no equipment available to do it, which has undeniable if amusing logic.

          And it is often the same panic reaction that gives you the transfer to casualty situation.
          MyFiL was recently transferred to casualty after a minor fall leaving him with minor discomfort over his shoulder blade.( New, and
          somewhat anxious night supervisor).
          I spent 45 minutes on the phone to that Casualty, ensuring he did not get a CT scan, a night in hospital, and possible intervention.
          And that’s how they get there.
          Medically, socially and independence wise, a lot of elderly people, even not demented, do so poorly with extreme intervention there should be a process of not admitting them to icu. For the extremely rare exception- well, you would have to make a very strong case, and the outcome would probably still be dreadful most of the time.

    • In cramped migant worker dorms…
      But lots of space is what Australia isfamous for, ‘cept Sydney Melbourne and Brissy inner city high rise.
      Move to the regions.

      • Canberra is very spacious for a mid size city. Lots of space. Only two new cases in a whole week. Feeling like they will cautiously and gradually reopen in about 4 weeks if this continues.

        (Just in time for us to get smashed heading into winter).

    • I didn’t realise you were a lockdown denier, Ronin.

      As an impartial observer, I sense opinion is shifting. Interesting.

    • Just_Straya_Things

      Long time reader, first time poster. I moved from Syd to SG this February for work, and Singapore has been very strenuous about hygiene / face masks / social distancing / mandatory WFH which has really helped to prevent the spread of COVID-19 further. When we landed, they were testing your temperature almost everywhere – airport, hotels, banks, malls, coffee shops, even hairdressers. It’s a small city with a high population, and they’ve managed to control it well. For example, everywhere has provided hand sanitiser for free, and the government has also distributed facemasks to households (contrast with Australia and the run on TP and other essentials)

      In regards to the sudden explosion of cases, this is completely true in the context of the Foreign Worker dormitories. These are all the workers they get from countries like India & Bangladesh for cheap construction labour, and are typically housed in very high density apartment blocks. Think: a backpacker dormitory where a room has 4-6 bunkbeds, shared bathrooms, and many rooms of this exact same layout in close quarters (very similar to a cruise ship)

      The foreign workers here typically are not wearing masks or too concerned about personal hygiene. I predict the cases are going to keep going up based on living conditions. In saying that, cases amongst local Singaporeans seems to be fairly consistent and dropping.

      So have to disagree about social quarantine not working. Foreign workers in construction don’t have that luxury, and that’s really where the sudden explosion of cases has occurred. Some more reading if you are intrested on % that make up COVID-19 cases:
      https://www.straitstimes.com/singapore/health/coronavirus-3-more-foreign-worker-dormitories-declared-isolation-areas

    • +1 every MBer should read this. It’s basically an open admission that immigration is used to continue the Ponzi scheme and without it, it is all gonna fall apart. It’s behind paywall but worth accessing if you can.

      • Stewie Griffin

        I detest that globalist Megalogenis – people like him have been at the forefront of cheering on the unfair and unsustainable economic model that has been fostered onto us.

        It is all the more galling because Megalogenis spends so much time cheering on Multiculturalism and denying the legitimacy of any unified Australia identity or voice that exists or has a right to exist, that dare represent the Australia that existed before his parents arrived here.

        The only things that globalist bigot acknowledges in regards to Colonial Australia is their troubled relationship with our Indigenous – founding a nation and carving it out of the dust is hard, messy work. Yet for George all that is brushed aside and every positive aspect of Australia he simply credits to the “noble immigrant” he himself of course being one.

        That said the article is a fair summation of the implications of the fall in immigration on the Australian economy and our major cities. At least this time he was sensible enough to avoid anything other than a neutral tone.

      • Just_Straya_Things

        Great article.

        “More than half the nation’s population growth since 2005 has come from overseas migration, and the skilled program has been the dominant driver of the economy for the past decade.”
        “The permanent migration program typically recruits half its intake each year from people who were already in Australia on student or temporary work visas.”
        “Australia grew by almost 1.2 million people between 2016 to 2019.”
        ” Australia faces the prospect of two, or even three years without the stimulus of mass migration.”
        “A nightmare scenario for Australia during the health crisis is that the property bubble bursts in one or more of the big cities. No amount of federal government intervention in the economy would restore confidence at that point. And the states would not have back-up finance to deploy because their budgets would have been stripped of stamp duty revenue.”

        The solution? Open teh floodgates!

        • adelaide_economistMEMBER

          What George gets wrong is his concept that the migrants themselves, alone, are able to ‘generate’ this economic boost. Maybe a little of it, but without access to generous credit, a (relatively) buoyant jobs market and plentiful government payments, it doesn’t really work anymore. Migrants themselves are not a ‘sufficient’ condition for growth when everything else is in massive contraction mode. We just end up with favelas.

  11. With the latest link from LBM showing a true mortality rate of 0.08-1.14%

    If one believed that the world is shortly going to realise that this really is just a bad flu

    Would you go short USD and gold, and long stocks?

    Or is there something more counterintuitive that would likely happen ?

    Just a hypothetical , can someone discuss the investment implications of this scenario

    • happy valleyMEMBER

      happy valleyMEMBER
      April 18, 2020 at 8:59 am

      “Would you go short USD and gold, and long stocks?”

      Sounds good to the Fed who have your back and to The Donald who will back anything that get’s him re-elected and makes his mates and him even richer?

    • “Would you go short USD and gold, and long stocks?”

      That would probably work short term, but do you remember that radio game “beat the bomb”?

      I see two more down legs in the stock market when investors eventually realise the following:

      1) There is no complete removal of lock downs. The virus is new and contagious. Countries that attempt to “return to normal” will be forced back into lock down off the back of overflowing hospitals. I know you don’t agree with the lock downs, but there is a thing called Democracy. Any government that stubbornly attempts to sacrifice 1% of their population in quick time will be shown the door at next election. The one exception to this is if the chloroquine/azithromicine or other combination of meds proven to dramatically reduce the death rate.

      2) The economic damage is already done.
      a) Many companies are already bust. Jobs have disappeared that will never come back.
      b) Many companies realise that working from home is not that bad and they can save money on office space. Commercial Real Estate will cop a pineapple, as will all the food outlets, cafes, gyms, retail, etc, that are in those CBD areas.
      c) Much like the 90s recession, a proportion of households now realise it is actually much cheaper and not that bad to cook your own food, make your own coffee, clip your own hair, watch a move online, etc.

      • Well done on some thinking – I’m amazed at how little goes on here.
        I’ll give something back. There’s likely a new cold war with China. AUD will grind down and USA will up its military around the world including bases here. Servicing those personel may be lucrative

      • I think the opposite: the lockdown is becoming more and more politically untenable as each day passes

        Young people realise they are getting a very raw deal, and even the elderly seem happier to take their chances

        Just my impression from talking to people and observing online activity Instagram, Facebook, forums etc

        Also not so sure about the long term changes in people’s behaviour
        Certainly there will be people pushing for permanent WFH

        But I think there will be a big pent up demand for pleasure, going out and social interaction

        Having said that I think that the good news might be priced in to some extent, and there might be a paradoxical reduction in enthusiasm for assets due to withdrawal of extraordinary fiscal and monetary stimulus

        Unless of course the fiscal and monetary stimulus becomes permanent as has been the case in the past

        • Total lock down is untenable. I agree with that. They are still talking about “value for money” lock downs. It will be many months before people can attend a movie, the footy, pub/nightclub, or even a busy restaurant.

          IMO young people will eventually become winners out of this. Those without a mortgage at least. House price falls, a New Deal type stimulus, fewer immigrants to compete against.

          • Why are you seeing house price falls in the medium and long term with yields across all asset classes down , and likely to stay down given the extent of central bank “liquidity” that will likely never be withdrawn

          • Short term: with higher unemployment and tighter credit availability then nominal house prices will fall. Then there is the increase supply of rental properties (AirBnb, international students, temp visa holders, unemployed people moving in with friends or family) which will drive down rental yield, and no doubt some of those end up for sale.

            Longer term: we already had that discussion. If we get the inflation you predict then interest rates will eventually rise. Real House prices will fall, as will Real share prices.

            I also suggest that properties are not as high yield as what you think. Gross rental yields around Sydney 2-3%, which implies a net yield lower than the 2% term deposits still on offer. That is the extreme example for people who own the property outright. Negatively geared implies negative net yield.

      • Yep, one of the abiding falsehoods doing the rounds is that as soon as this is over, the world will simply go back to doing what it was doing before the virus was a thing. The damage wrought just this last 2 months is immense as you say, and we probably have several more months of it ahead. Even if the US goes back to work, what does that matter unless the rest of the world does? Even then, consumers will be very cautious, unemployment will remain high, businesses will reluctant to invest or take on staff in case there’s another lockdown period.

        This will take years to get over — and that’s being optimistic.

  12. happy valleyMEMBER

    “Would you go short USD and gold, and long stocks?”

    Sounds good to the Fed who have your back and to The Donald who will back anything that get’s him re-elected and makes his mates and him even richer?

  13. “Morrison flags company tax cuts, IR reform as key to COVID-19 economic recovery”

    Workchoices 2.0.

    Where’s the workers party gone? We don’t have one.

    Big Australia globalist leftists are unelectable and have therefore destroyed Labor, ergo Australia.

    • happy valleyMEMBER

      +1 WorkChoices 2.0 – absolutely and tougher than version 1.0. And the company tax cuts make even less sense than they did under Turnbull when Scotty should have got the bullet for pushing them so hard.

      So, com,pany tax cuts are going to give small/medium businesses (who were the majority employers pre ScoVID-19), most of whom are on their knees or will be doing it tough UFN, an incentive to employ people?

      The reduction is and always was about rewarding the big end of town and foreign shareholders in listed companies.

      And they reckon Malcolm was a narcissist?

    • Well when they bring the factories back to Aus they want to bring the same working and pay conditions too. Once unemployment skyrockets for long enough people will accept anything.

      • Exactly.

        We could do with a workers party right now.

        Instead we’ve got a globalist open borders leftists party.

        Labor are killing Australia.

    • Scummois speaking to the BCA telling them he will delivery everything they want… at some point in the future… It’s more political than real. He is just managing a key constituency with these comments.

      Remember NOT to believe what comes out of Scummo’s mouth…

  14. and you really think pharmaceuticals aren’t a crucial problem:

    “In 2016, Lord Jim O’Neill chaired a review of anti-microbial resistance which concluded that, by 2050, 10 million people a year would die because the antibiotics we have won’t work.”

    whata ya reckon our leaderships’ plans are??????????????
    https://capx.co/where-is-the-greta-thunberg-of-anti-microbial-resistance/?omhide=true&utm_source=CapX+briefing&utm_campaign=b9b60170aa-EMAIL_CAMPAIGN_2017_07_17_COPY_02&utm_medium=email&utm_term=0_b5017135a0-b9b60170aa-241886837

    • There are at least half a dozen alternatives to anti-biotics in the pipeline. Most seem to be working really well.

      It was one of those huge crisis which spawned a massive innovative response and surge in productivity – like global warming and eco-tech.

  15. Immigration hustlers will be out strong after all this dies down. Megalogenis already rumbling.

  16. boomengineeringMEMBER

    Colin,
    that job that the Curries tried to scam me into repairing when they sent most I hadn’t touched yet. The one I did work on failed in another section.
    Quoting to machine and weld Nickel 200 and Titanium grade 1 (99.99%) for cathodes but no material in Australia. Have you ever machined Nickel 200?

    • No I haven’t Boom. Although I’ve machined high nickel content materials. I can imagine it being cheesy if it gets hot – Maybe treat it like SS or CuNiFe – sharp edge, lots of coolant, lower speed & higher feed – Straight Ti, Super low speeds & moderate feeds, it’s a PITA & you can’t push it at all, breaks tips through extreme pressure – I’ve never missed machining it. Let me know how you go on that – always interested on different materials. As for the clients – you’re too forgiving, I think I’d tell them to GAGF’d, or load the price so they never come back. Some just aren’t worth the effort.

      • boomengineeringMEMBER

        Yep you are right, always too soft when helping people. Need to harden up but not in my nature.
        Thanks for the info. I should tell them to supply the materials as none in Australia but will see if can source OS first. Have to thread both as well.

        • Threading too – I’d expect Ni to try a build up rip/dig in like Cu or Zn, but with more pressure & a slightly harder material – so might be a “tad” more forgiving. Ti won’t forgive, light depth of cuts & flank as much as you can to keep from machining both flanks at the same time or the pressure will rip your point out before you know it, go compound method if you have to. If there’s tips with the right angles for Ti, I’d get them, or go for high rake & sharp ground Carbide IIRC. I remember pushing for cycle times with Ti & just Had to work within the slow parameters it has, it didn’t like to be pushed at all…… Good Luck, & lots of coolant!

          I seem to have 2 speeds – too soft or too hard. At least too hard brings the Ashholes out quick enough to flick ’em 😉

  17. So, it looks like most of the world is slowly going over this glorified common cold virus called SARS-Cov2.

    The only thing that makes this virus any different to other common cold viruses from the same group of coronaviruses is its novelty; and this novelty means that people didn’t have a chance to develop immunity in childhood when the virus is harmless so contracting it now for those at older age is more dangerous, like with many what we call “childhood diseases”. And as with other common cold viruses reinfections will be possible (as some studies confirm) so virus will stay with us forever but once everyone gains immunity it will be harmless because the only people without immunity will be newborns who will contract it in early childhood when it’s harmless.

    It’s logical to assume this virus is like other very similar viruses, all of the data we have so far confirms this assumption (not a single information contradicts this assumption).

    So based on all of this we can say there will never be herd immunity so everyone will have to develop a personal immunity (memory cells that make fight reinfection easy). Once everyone gets infected very few or none will be dying from this virus ever again (only people with no immunity will be newborns who as all data suggest have no problem fighting the virus whatsoever)

    Based on few serum studies available some countries could already have a third or more of population with immunity and based on speed of spread may have 100% of population gain immunity (or die) in less than 6 months. these studies also confirm that mortality rate is somewhere around 0.1% and there is no way to reduce it by containing the virus spread. The only way to reduce mortality is via better health care and better treatments

    • Contra to your incessant claims the data won’t be in till a postmortem can be done and all the secondary effects are known over a large sample of population, preponderance of evidence to past events precludes making any predictions at this stage.

      Please review Hippocratic Oath.

      • Regarding the Hyppocratic oath
        ” first do no harm” how many die unncessarily due to intubation? How many get infected because of patients admitted into ICU that would have died within a year or 2 anyway ? And not good years either.
        Viruses have been coming and going for all of human history
        Difference is hyper globalisation. And a lot of boomers have this weird live forever mentality.

        • The issue is harm is made manifold by increasing the transmission rate and its knock on effects, some of which you highlight above E.g. they are post facto.

        • And a lot of boomers have this weird live forever mentality.
          A hang over from their Magic Mushroom experiences

        • antiviral drugs are among the worst liver killers
          do we know that damage is caused by the virus or drugs used to treat them?

          • I wonder how that pars with say the forced ingestion of anti alcohol drugs in the US on those charged with drink driving and its effect on the liver, lead in public water supplies, increased antibiotic resistance due to MBA metrics superseding medical knowledge, the results of the Green Corporate revolution in Ag and its logistical ramifications let alone public health … you get the picture …

    • And what happens WHEN the next novel virus emerges? What do we do then Ignore it?
      Tell us now, oh wise one, what we should do WHEN the next one arrives that we similarly have no immunity to. Keeping in mind, of course, that we will have no real idea how it’s going to behave.
      I know, I know! We get better masks, right?!

      • happy valleyMEMBER

        +1 And who knows the chin-ahmen at that lab probably have virus 2.0 ready to go?

      • We do whatever we can to keep the good doctors investments from falling. And if that means killing some folk, it doesn’t matter because they were eventually going to die anyway.

        • No you dummy.
          Elective surgery has stopped.
          Our income is down 50%. Our outlays remain the same.
          People will reduce their health fund uptake.
          We are suffering like everyone else but no one seems to care! 🙂

        • If he gets his limit orders and stop losses right on his online trading platform, his investments can continue to do well even if HE gets killed!

          Now there a person who knows what matters!

      • what to do when next virus comes?
        Exactly what we did at the very beginning of this epidemic:
        It was completely reasonable to go into a hard isolation and containment when new pathogen appears. None ever questioned that, in fact everyone said that Chinese government didn’t react hard enough initially.
        But once information about virus emerged (case fatality rates, age and other distribution, once type and RNA of the virus got determined, …) we should have know better.
        What’s really interesting is that initial response from epidemiologists to “flatten the curve to make health care system functioning while population gains immunity” was quite good and reasonable. What happened after is that after Italy, most of world’s leaders and most of doctors went crazy and started turning curves at levels that were well below health care capacity and not nearly high enough for population to develop immunity.
        By doing hard lockdowns they introduced disproportionately high costs (including health costs onto population) while not achieving much, not even buying any time because health care system was not utilized at the time they decided to bend the curve and suppress the epidemic. If the wanted to increase health care capacity they would still be able to do it while utilising the existing capacity – instead they kept hospitals half empty while hurting people’s health and the economy.

        Now people are hostages, paying high price and not getting any results – there is no end game in current policies. the only thing Scomo is doing at the moment to end epidemic is praying

    • This is why I am against a mandatory vaccine for this which will probably be likely if you want to travel overseas. I have definitely had it in the early days when they weren’t testing many people and I got over it relatively quick. But who knows if I can be tested for antibodies still? The vaccine when developed should be priority for older or immune compromised people but for young, healthy individuals it should be optional.

      • young (especially little kids with no fatality recorded so far) should be left to gain immunity via infection until vaccine gets tested properly over a longer period of time

        simply risk from a new vaccine is going to be larger than the risk from the infection for many age groups

        • I don’t think we’ve ever had a vaccine for a corona virus which constantly mutates. I think we will all be forced to stay at home indefinitely watching Netflix whilst the government prints money and hands it out and so save thousands (well 10 or 20) lives if Sweden is anything to go by as their death rate is similar to the uk and they have no lockdown.

        • A 6 week old baby in NYC apparently died from covid

          If true , I’m interested in understanding if that qualifies as a young person

      • I won’t be taking any new vaccine. In ten yrs time we’ll get some idea as to the side effects but until then …

        • Banana ManMEMBER

          I probably will, because I like global travel. You can get out most of the alloy and mercury before it hits your blood brain barrier. Just have to load up on stuff like bentonite clay and charcoal when you do it. I can’t wait.
          I seem to have a problem getting hold of webjet at the moment. I believe my vacation to Samoa is off at this stage. Thinking visa chargeback?

          • I have a family trip booked for June – waiting for the airline to officially cancel it so that they have to pay me back. If you initiate the cancellation I think you’re on shaky ground.

          • Plus the Italian study
            Plus the German study

            The evidence is mounting, and fatality estimates keep going down and down

        • ApproachingZero

          Interesting, but there are a few flaws with the study.

          Firstly, they used Facebook ads to recruit and compensated the participants with a $10 Amazon credit. There are potential biases in the sample (i.e. people who would risk infection in a medical study for just $10). If you’ve spent time in Cali (I did my post-grad at Stanford), you’d be aware how much that may bias the demographic.

          Secondly, there may be a word-of-mouth effect. People who are willing to risk infection for $10 are likely to tell others in their social group about the “free” $10. People who are closely associated are also more likely to have cross-infection.

          Thirdly, it’s not clear how “blind” the ads were. If symptomatic people were aware that the $10 was for a coronavirus test they may figure that it’s better to get paid $10 rather than $0 somewhere else for the same outcome.

          The study won’t pass peer review.

          • Bit of a stretch

            Even if it’s overestimating by 100% , the mortality rate is still 0.16 – 0.28

            ie pretty much a bad flu

          • ApproachingZero

            If you say so (with no evidence).

            And you were about to tell me the last time the flu or a cold killed 100 doctors in one country?

          • Narapoia451MEMBER

            ‘The study won’t pass peer review’
            I don’t think that matters to coming or the resident doctor.

          • I mean it’s the best evidence we have

            You are assuming a mortality rate 100x higher with no evidence at all

          • Evidence is optional for DrX and Coming. Not really necessary anyhow as they already know better than the experts.

      • @ApproachingZero
        1) When was the last time a common cold killed 100 Italian doctors?
        every time when tens of thousands of them who never had common cold before got infected with common cold virus
        2) Citing a source with statistical analysis, where is your evidence that the mortality rate is 0.1%? That figure seems to be something you’ve made up inside your head.

        The lowest known case fatality rates so far are around 0.2% to 1% in countries that did good number of tests, (both on people with symptoms and people who died) and have good enough sample (e.g. Australia, N Zealand, Israel, Iceland …) suggest that mortality rate is well below those case fatality rates when adjusted for expected number of asymptomatic cases where infection has not been confirmed and when adjusted for equal population spread of the disease (e.g. in Australia people over 40 account for 58% of cases and 46% of population).

        There are less than 70 people who died with (not necessarily from) Covid19 in Australia, even if all of critical cases (57) also die that case fatality rate is going to be less than 2%, now adjust for age distribution (so many elderly infected and so few kids), than adjust for asymptomatic cases (estimates go from as many to 80 times as many) and mild cases without traceable contact that have not been tested until recently (thousands more) and you’ll be lucky to get mortality rate of even 0.1%

        unless you think the virus in Australia, Iceland and Israel is not the same as one is Italy or Spain that has higher mortality rate

        • ApproachingZero

          @”doctor”x

          1) When was the last time a common cold killed 100 Italian doctors?
          every time when tens of thousands of them who never had common cold before got infected with common cold virus

          I already asked you to provide citations. Where’s your citation? As always, you’re making stuff up.

      • Interesting that you feel you can fall back on an unsubstantiated and completely unprovable claim that 100 doctors have died of coronavirus, but criticise the minutiae of the methods of an actual scientific sampling

        Slightly hypocritical , no ?

    • So why the refrigerated morgue trucks in NY, the overwhelming carnage in Lombardy and field hospitals in London?
      Alot of extremely unusual medical action for a glorified cold.
      This should be happening very year if we are to believe your hypothesis.

  18. Banana ManMEMBER

    When I think about the current situation that we are faced with, I can’t help but think of the driving forces behind it… Perhaps I’ve had too much coffee this morning, but covid seems like a convenient way to force our Australia card on to us. I mean using old mates razor, that would be a handy crisis to use for this purpose no? I mean it would be an excellent way to make money by whipping up a virus, letting it fly and then selling everyone the cure? Cue Bono? Putting everyone on Cenno is the first step. Immunity passports a la KTDI ready to go. Oh yeah, whist we are at it, decouple cash entirely and go digital, roll out the CBDC.

    Just because you’re not paranoid….

        • Yes the forced savings of workers into the casino so the market can get its mojo back in the name of privatizing everything … hows that been working.

          Best bit is considering the ratchet effect, over some decades, what it portends for those that cop it in the future E.g. sorta like watching gang war escalate.

      • Banana ManMEMBER

        We will fight them on our Iphones, we will fight them on our desk tops…
        Just because we can’t have more than two people gathering, we can make a stand in our fortresses of solitude.

        That is, unless they come for us…
        Here is what the Executive Director at the WHO Health Emergencies Program, Dr. Michael Ryan, said during an interview:

        “In most parts of the world, due to lockdown, most of the transmission that’s actually happening in many countries now is happening in the household, at family level. In some senses, transmission has been taken off the streets and pushed back into family units. Now we need to go and look in families and find those people who may be sick and remove them, and isolate them, in a safe and dignified manner.”

    • Australia card? No way. We’re not having that.

      A few years later they brought in photo licences, all linked with tax file numbers, bank accounts, passports.

      We/they already have Australia card and much much more. Every year we watch more freedom taken. Miki card knows where you’ve been and when. Phone fingerprint ditto.

      Big Australia. Lose your freedom. Lose your country.

      • Banana ManMEMBER

        Was joking about the Australia card. KDTI has a better ring to it, I mean immunity passport once you get your 5g activator jab. /sarc/ sorta

      • What are your thoughts on introducing photos and biometric details onto Medicare cards? Taxpayers get ripped off in a big way by illegals, tourists and temps piggybacking onto others migrants medicare accounts.

        • I’m all for it.

          Big Australia equals loss of freedom.

          I’m 100% against big Australia, but I’m realist and know freedoms are one of the myriad losses we’ll be making.

    • “The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary.”

      H. L. Mencken

  19. Skippy..apparently, school kids are calling this virus the Boomer Remover.

    Any objections to the name change? 🤣

    • Great … it completely removes the agency from those that concocted the framework and its results, greases the rails for the next iteration of the socioeconomic paradigm – its just so welcome to whoop whoop.

        • I’m not confused about the historical context which forwarded the neoliberal agenda Mav, you have to show your work on that level.

          Do carry on with your camps default responses when everything else fails … now at emoticon levels …

          • Skip, you have a peculiar form of dementia. Instead of forgetting stuff, you remember random passages from old books like Das Kapital and Mein Kampf and spit it out. This is the only logical explanation. Your GP can thank me 🤣

          • Your response shows just the opposite as I’ve always been clear that I’m post Keynesian, so pathetic attempts to label me some sort of Marxist is way off the mark and some heavy duty excruciating rhetorical device E.g. I find the labour theory of value fails when it resorts to moralization to underpin it, that does not mean that some of Marx [not to be confused with the cult of Marxism] did not have some reasonable observations which were applicable to the specific time they were made. I especially disagree with the over all forward time travel aspect and the extrapolations his followers [tm] become victim too – because the future is not written yet.

            Do you see me using Marxist dialectal or linking to Marxist sites, no, I link to say Lars Syll or other prominent PK authors, that in itself makes a mockery of your groundless assertion, whilst simultaneously diminishing the gravitas of anything else you have to say – an own goal – that when pointed out will stimulate more than likely more of it if the above is a reference point.

            Do pull your head in and have a go at the information put before you and show your acumen of the topic at hand.

        • In case your memory does not serve you well or intentionally playing dumb.

          The main points of neo-liberalism include:

          THE RULE OF THE MARKET. Liberating “free” enterprise or private enterprise from any bonds imposed by the government (the state) no matter how much social damage this causes. Greater openness to international trade and investment, as in NAFTA. Reduce wages by de-unionizing workers and eliminating workers’ rights that had been won over many years of struggle. No more price controls. All in all, total freedom of movement for capital, goods and services. To convince us this is good for us, they say “an unregulated market is the best way to increase economic growth, which will ultimately benefit everyone.” It’s like Reagan’s “supply-side” and “trickle-down” economics — but somehow the wealth didn’t trickle down very much.

          CUTTING PUBLIC EXPENDITURE FOR SOCIAL SERVICES like education and health care. REDUCING THE SAFETY-NET FOR THE POOR, and even maintenance of roads, bridges, water supply — again in the name of reducing government’s role. Of course, they don’t oppose government subsidies and tax benefits for business.

          DEREGULATION. Reduce government regulation of everything that could diminsh profits, including protecting the environment and safety on the job.

          PRIVATIZATION. Sell state-owned enterprises, goods and services to private investors. This includes banks, key industries, railroads, toll highways, electricity, schools, hospitals and even fresh water. Although usually done in the name of greater efficiency, which is often needed, privatization has mainly had the effect of concentrating wealth even more in a few hands and making the public pay even more for its needs.

          ELIMINATING THE CONCEPT OF “THE PUBLIC GOOD” or “COMMUNITY” and replacing it with “individual responsibility.” Pressuring the poorest people in a society to find solutions to their lack of health care, education and social security all by themselves — then blaming them, if they fail, as “lazy.”

        • Never mind that it seems to do a better job of wiping out pre-boomers.

          Those kids will get old too; or they won’t.

    • Bye Nan…. Bye Nonna …. Bye Nonno….. Bye Grandpa….. We loved u once but…….. die fvckers?

      • The fvcks keep voting for Scomo and endless house price inflation. I care for them as much as they care about climate change 🤷

        Die mfers die. 🤣

        • You realise the other fvcks are exactly the same…..they too will pump house prices, import people and go full retard. They are both tarred with the same slime. We need this to turn into a massive crisis and a revolution … if not, we get more of the same where a real estate agent is revered while a scientist loses their funding

          • BoomToBustMEMBER

            Because they are the best connected, moan and complain the loudest, and work together to impose their will on everyone else. Once the young people work this out AND can vote for an alternative it’s going to be all over very very quickly

    • now kids have a problem,
      what to do with all that inheritance (properties, super accounts, expensive cars, … grandparents were hoarding for ages… )
      they cannot travel around the world, spend on parties, …

    • To be fair, I think this phrase was originally introduced not by millennials but by children of Boomers, in an effort to get their Boomer parents to take the stay-at-home orders more seriously.

  20. In the construction game ATM materials are realy delayed. The reason. Tradies are working extra hours and Saturdays because this is the only thing to do. This is fastracking the completion of residenals projects. My prediction is companies like CSR and Bluescope etc will have better results this period then crash as the residenals demand for projects crashes starting May June? Any thoughts?

    • Lead time for projects and orders is months out. So no.
      Approvals, commencements and completions have been collapsing for months – even prior to the Covid-19, so no.

    • Not sure about construction specifically but there is a lot of inventory liquidation going on right now — attempts to boost cashflow in the face of lower consumer demand. The problem is that supply (inventory replenishment) is tricky right now, so at some point you’ll have a situation where demand (anemic as it is) will actually exceed available supply — so there is potentially a period of robust inflation just down the road.

      To add to the supply issue, companies are going under at a rapid clip so the supply chain will become severely disrupted — again, very inflationary. Building supplies companies will face a similar dynamic I guess — potentially on the supply side initially and then on the demand side as the drop in approvals, commencements etc delivers a demand shock. Either way the nice even ‘flow’ of the supply chain has been (will be) disrupted causing all manner of problems for all manner of companies – as well as consumers.

  21. I noticed that Mascot Towers was back in the news this week as the initial $7M repair bill ballooned out to $53M with owners having no confidence that even the new number won’t double.
    https://www.abc.net.au/news/2020-04-16/mascot-towers-repair-bill-from-cracks-hits-53-million-dollars/12153368
    So what is the real problem?
    I spent some time going through the Structural Engineering forums and seeing that they all seemed to end with the same conclusion “Dewatering” was the root cause of the problem.
    So wtf is Dewatering?
    And why might this parameter be the single most important consideration when considering the purchase of an existing apartment?
    The story starts with councils trying to fix the car parking issue by requiring that apartments have parking spots for at least 2 or even 3 cars per apartment. This is relevant because it means that whereas older apartment buildings might have had just one level of parking below the building, it is not uncommon these days for up to 5 levels of subterranean parking.
    What does it mean when a new building (with 5 levels of parking) is constructed next door to an existing apartment building with 1 level of parking? Well it’s simple the water in the soil in the adjacent building flows into the basement of the new building and thereby weakens the soil strength (of the adjacent building) and reduces its load carrying capacity.
    All really straight forward, as the water exits from under the corner of the older building it starts to sag and crack.
    More water gets pumped out results in more cracking so several years after the neighbouring apartment goes up your building starts to crack.
    OK this is all simple to understand, but this is where it gets complex, who’s fault is this?
    In all likelihood the original building would be fine if the neighbour hadn’t built this deep underground garage, looked at another way the Original building had inadequate Foundations given the development that was to be expected in the area.
    Maybe if the two buildings are close in age you can make the argument that the Foundations were inadequate given development trends but what happens if the buildings are say 30 years apart, it is hard to argue that the foundations that were adequate for 30 years were actually inadequate because the Structural Engineers should have anticipated this modern day trend towards having very deep garages with residential Apartments.
    Fascinating topic, tell me your thoughts.

    • roylefamilyMEMBER

      Well, my thought is, thanks for clearing that up. As to liability I will have to cogitate for a while.

      • How hard is it to build a well?
        Sorry Mig but you lost me somewhere in the first sentence.
        Yes the newer building acts like a huge well beside the existing building but they don’t simply let it fill with water rather they continuously pump it out and pump it out and pump it out. So unlike a well the soil never returns to its original water saturation level, it just dries out more and more.
        There’s also not a lot that the new apartment can do to stop this Dewatering from happening, as anyone that has dealt with water ingress issue into their basement will attest, water will eventually find a way through whatever membrane you install. In most cases your best fix is to install a drain and keep it pumped out, which is basically what the new apartment building is doing.

        • Ronin8317MEMBER

          An alternative is not to build the carpark deeper than the neighbours, and get an exemption from needing more parking space because the apartment is right next to Mascot train station. A water pump working 24/7 should not be regarded as an acceptable solution for water in the basement.

        • migtronixMEMBER

          I have a brain that can ask questions and FWIW i have 2 engineering degrees. If you had problem with seapage wouldn’t you think about constructing a buffer? Probably not because I’m guessing you don’t think much.

          • Ease up Mig, guy was just trying to be a bit of a fkwit – no need to invite your mates around for a BBQ.

        • factory worker

          I’m a long long way from being a structural engineer, however I thought it was an interesting apropos topic so I decided I would share what I had learned reading through the structural engineering forums.
          But for the record I do actually know a little bit about medical equipment design.

    • Fantastic post.
      Blame could also be laid with the council, state and feds given that, councils allow development to the moon next to each other and don’t consider this issue when approving/not approving land for development. States don’t provide the infrastructure needed such as trains and buses, so now the place does need 5 levels of parking, because there is no public transport nearby. Feds for allowing such a mass immigration ponzi that needs high rises to be built in the first place to house all the incoming cattle.

    • working class hamMEMBER

      had the same thing happen to my olds apartment building.
      3 years in court and the body corp eventually got reimbursed for repairs. After 3 years, most had moved out, taking haircuts and a really hard lesson.
      Building standards in Australia have gone to the toilet. I would buy a un-renovated solid built home from the 60s-80s over most built in the last 20 years. Trades are not what they used to be, you can still find the odd one who does things right, but you will pay.

      • Yep, when I was looking at a house to buy. I found a couple that were owner builder homes. The midbrick I’m in now was done by an Italian migrant and true craftsman, the family that bought the home off (Nick the migrant), their son was a builder also and spent considerable time looking after the house.

        Having been trapped in isolation since Covid-19 I’ve been all over the house. Found no major problems. My uncle who is a bricklayer/builder for 40 odd years. Took 1 look at it and said yep, great house. (we didn’t do pre purchase building inspection – I went with my gut on this 1) and I feel I made a good decision.

        I have 0 interest in modern built shyte. Only problem I have is mice in the roof (I think) bait hasn’t killed them yet. Might have to call a professional.

        • Great to hear Gav. there is great comfort in living in a well built home.
          As for mice,get a carpet snake to live in.

        • boomengineeringMEMBER

          Took the words out of my mouth Gav 1950’s– , The missus always comments on the solid Italian looking house around the corner hope it doesn’t come on the market as don’t want to move unless away from rat race.
          The Italians in my day used to get ridiculed for driving Valiants but they were far better than Holdens and Fords back then. Those cars like their houses were also built stronger.
          btw the post above punchline was the guys age sent to you because you seem interested in the fitness of oldies, emulate maybe ?.

    • It seems to me that, as this problem is well known (now), that limitations on car-park depths in newer buildings going up adjacent to old would have to be implemented — or some additional engineering required wrt to the foundations.

      As for the blame — I’m not even sure a good lawyer could tell you.

      • factory worker

        The problem is that this only really seems to happen in areas with very high water tables (like Mascot).
        So it would be a difficult problem to solve through State level regulation, Adjacent building regulations that make sense in say Hornsby are complete nonsense in Mascot. It really brings this back to a local council level approval (which if the above post is correct the council refused but was over ruled at the state level)
        Most of the lawyers that I know don’t give a rats about who is in the right because they make their money from participating in the litigation process, unfortunately this process rarely result in equitable outcomes (but most lawyers are happy with that)

          • factory worker

            Good point, probably did have some impact, I remember walking around Centennial park last year and noticing just how low the lake levels were. although that only accounts for at most 1 Metre in the water table level so I’m not sure how significant it is.

        • Not difficult at all.
          The state regulations should be that all building work must comply to building standards.
          All highrise foundations must be designed by a structural engineer who is licensed and carries adequate insurance. If this had been done then the Mascot Towers owners could now claim on the insurance of the engineer.

          This is the way the system used to work before it was undermined by greedy neoliberal cretins voted in by morons.

          • factory worker

            WHY sue the engineer behind Mascot Towers?
            From what I understand the structure was fine at the time that it was built (and for several years thereeafter) it was several years after Mascot Towers was built that the Adjacent building went up and the Dewatering occurred.
            Yeah maybe he should have “future proofed” the building but that adds a lot of cost when it was unnecessary for the building “as built”

        • If this had been done then the Mascot Towers owners could now claim on the insurance of the engineer WHO DESIGNED THE ADJACENT STRUCTURE WHICH UNDERMINED THE FOUNDATIONS OF the Mascot Towers.

  22. roylefamilyMEMBER

    Well, my thought is, thanks for clearing that up. As to liability I will have to cogitate for a while.

  23. What a fraud this guy is. He’s lined up everything that’s wrong with Australia’s importing people model and then argued we need to get back to it ASAP or else, even claiming our small towns and regions will suffer from population decline. Cute to be suddenly be concerned about a multi-decade issue!

    He only seems to be kept in clover over the years because of constantly fellating all those who instituted or profited off the immigration scam. The fact George Megalogenis is seen as some sort of public intellectual tells you what a toilet Australia is.

    The only positive from the article are the overwhelming number of comments ripping it to shreds below.

    https://www.theage.com.au/politics/federal/as-australia-self-isolates-from-the-world-economic-recovery-hangs-in-the-balance-20200417-p54ks6.html

    • Maybe making it unlawful to refuse a reasonable work from home request could be s good way to get people to move to regional areas?

      • That would ensure that all the “work” was performed by cheapies at their homes in India and China and Nepal, etc.

    • Certainly got my blood pressure up. The author can’t wait for the population ponzi to return while ALL the comments so far disagree with him.

    • happy valleyMEMBER

      Does George like a supply of cheap labour on tap, for all his tradie etc type needs?

      I used to think that some of the stuff that he wrote in The Australian (never subscribed to Rupert’s rag) that I stumbled across was reasonably balanced? Maybe, I was wrong?

    • I like the bit where he says that Sydney is “particularly vulnerable”. That we need more immigration than other cities because we have more residents leaving.

      And why are those residents leaving? Well George helpfully tells us it’s because of congestion and high house prices.

      Elsewhere in the article he openly states the need to keep immigration high to avoid our house price bubble bursting.

      It’s shameless really.

    • Yes, there is quite a list of basic requirements that rentals must now meet before they can be leased. There is nothing really onerous but surprising that these were never listed the first place.
      One good thing is that the lease break fees have been more fairly distributed so it’s not as onerous to break a lease. I hope with the new downtrend in rents that renters take advantage and move out if their landlord is overcharging.

  24. some good news.. a house that had For Sale sign with a Sold sticker had its Sold sticker removed last night and the house right next to it now has For Lease sign.. Stocks for Sale and Lease are building in my area and I can sales failing to close.

    • Mining BoganMEMBER

      I was surprised a while ago to see they actually have “Back On Market” stickers to stick over “Sold” stickers.

      That isn’t a confidence inspiring thing. It’s much like seeing the truckload of bodybags delivered just before a cyclone hits.

    • Yeah same with the house opposite ours. Apparently didn’t sell after a whole huge auction thing and the maybe sold maybe not situation.. and now, no sign at the front of the house but is still listed on the internet.

    • What did you say to the lady in front – she looks amused. Or perhaps that’s a sarcastic grin

    • What on earth are they buying that is so important in their life to spend their Saturday morning in a queue?

      Aussie boomers and gen xers have a serious addiction to home improvement. It’s all part of the whole doctrine of property worship in Straya.

      If they’re so bored with themselves, they should go out and do something helpful and useful such as picking up all the litter all over the country. What’s that clean up Australia bloke doing these days? He should be out there with all these bored and time rich morons.

      • Don’t get it either. We go to Bunnings around five PM, no problems. It’s not like anything’s urgent.

    • Yeah, doesnt the air purifier have this UV light? I think Breville calls it their microbe sheild. Only reason I got it beg of this year. I even resisted during the bushfilres (and then eventually they just ran out in the shop ). But got it because of the virus situation. I think would be useful even on a regular winter where you may not have enough room to isolate when you have the cold.. might be good to have it in the bedroom when the wife/husband is sick.

      • I also have a Breville Air purifier with the UV light. I don’t bother using the UV because I highly doubt a split second exposure will do much at all. The HEPA filter on the other hand…

  25. “Sydney is the most vulnerable of the trio because it already loses a significant number of locals to other parts of Australia. Elevated property prices and congestion are the key factors behind these departures.”

    • these departures may reverse soon,
      traffic is great in Sydney in last few weeks, also property prices fell by 10-15% in just two to three weeks.
      With Scomo’s plan to keep lockdowns forever (or at least for another 12-18 months if we get lucky with the vaccine), prices will fall by 50% in 6 months so everyone who left in last few years will flock back into Sydney

      • If we can get the price down low enough then we call can live in a mansion by Bondi beach.
        Remember: quantity does not matter – only price matters.

  26. The AMA have been hopeless from the outset.And in fact they are hopeless in general.Self interest is the order of the day.Wouldnt choose them as my signpost

    • The AMA has never been about the financial interests of private members
      It’s been run for the self promotion and aggrandisement it’s leadership

      • Perhaps.Its still self interest however and hence using them to confirm your strongly held beliefs may not be in your interest

    • It is going to be very interesting watching Scotty fom marketing unscramble this omlette.

  27. UPDATE … NEW ZEALAND … Belatedly starting on the path of allowing affordable housing to be built with urgency … as an essential economic and employment shock absorber through the coronavirus crisis …

    Coronavirus: David Parker tells councils to keep consenting during Covid-19 crisis … Thomas Coughlan … Stuff New Zealand

    https://www.stuff.co.nz/national/121102312/coronavirus-david-parker-tells-councils-to-keep-consenting-during-covid19-crisis

    Environment Minister David Parker has urged mayors and councils to clear a backlog of development consents during the lockdown to pave the way for New Zealand to build its way to economic recovery. … read more via hyperlink above …
    .
    .
    Is the Coalition Government getting in place … with urgency … the Urban Development National Policy Statement, the Infrastructure Funding & Financing Bill and the Urban Development Bill ? …

    Hon Phil Twyford – Urban Development – Beehive

    https://www.beehive.govt.nz/portfolio/labour-led-government-2017-2020/urban-development

    • … to start on the path of allowing increasingly affordable serviced lots / sections … as is the case in the United States, where the median price of serviced lots / sections is $US 50,000 …

      Lot Values Hit Record Highs ( median $US 50k )…Natalia Sineavskaia… U.S National Association of Home Builders

      http://eyeonhousing.org/2019/11/lot-values-hit-record-highs/

      Here’s the typical home price in every (United States) state — and what you can actually get for that money … Business Insider Australia

      https://www.businessinsider.com.au/average-home-prices-in-every-state-washington-dc-2019-6?r=US&IR=T

      • All Editions – Annual Demographia International Housing Affordability Survey

        http://www.demographia.com/db-dhi-index.htm
        .
        .
        Hasn’t the political dithering for 15 years ( refer http://www.PerformanceUrbanPlanning.org ) gone on long enough ? … What the National Opposition Party Housing Spokesperson Judith Collins said just prior to Christmas …

        How Judith Collins (NZ National Party Housing Spokesperson) has more in common with her arch nemesis, Phil Twyford, than one might be led to believe … Jenee Tibshraeny VIDEO INTERVIEW … Interest Co NZ

        https://www.interest.co.nz/personal-finance/103112/how-judith-collins-has-more-common-her-archnemesis-phil-twyford-one-might-be

        • NEW ZEALAND: Coronavirus … when can we expect New Zealand’s public servants to perform to an acceptable standard … like those in Taiwan ? …

          Can we be confident they will ? …

          The forthcoming decision as to when we should move to COVID LEVEL 3 is high risk, with expectations high, but not enough information for confident decision-making … * Prof. Keith Woodford … Interest Co NZ

          https://www.interest.co.nz/opinion/104604/forthcoming-decision-when-we-should-move-covid-level-3-high-risk-expectations-high

          … extract …

          … LEVEL 4 has been working well despite the mis-steps

          In the five weeks since Prime Minister Ardern announced on 14 March that we were going ‘hard and early’ I have been generally optimistic that eradication was feasible. However, I have also been nervous as to whether we would get there. One day after the Prime Minister’s ‘hard and early’ announcement, in what was my fourth COVID-19 article and writing from high in the Canadian Rockies, I expressed the reservation that only time would tell if Jacinda had gone early enough.

          Some two weeks earlier my wife and I had decided as a matter of community responsibility that we were going to self-isolate on our return from Canada, regardless of the official rules, and despite minimal cases of COVID-19 in Canada at that time. I was therefore appalled to see Air New Zealand putting on special wide-body jets from Australia on the evening of 15 March so people could beat the self-isolation requirements, and with the government extending the deadline so those flights could pour into New Zealand in the early hours of 16 March.

          As I saw the glee with which my fellow Kiwi citizens exalted at their success in beating the self-isolation deadline, I could only say to myself, ‘these people do not understand what is happening’.

          Since then there have also been some mis-steps around the management of self-isolation for those who arrived thereafter.

          To put that into perspective, Taiwan has had (as of 18 April) 345 returnees who brought COVID-19 into the country, but they only passed that on, directly or indirectly to 50 additional people. In contrast, New Zealand had by that date 550 people who brought COVID-19 into the country but they passed it on, directly or indirectly to more than 850 people.

          The difference reflects the fact that the Taiwan Government knew what they were doing whereas New Zealand had to start from scratch with almost no systems in place. This was despite knowing for months that COVID-19 was coming.

          New Zealand has also had multiple problems with the supply and use of PPE, despite ongoing affirmations from Ministry of Health that supply was not an issue. Once again, the systems were not in place and health workers, particularly care-workers in rest-homes were inadequately trained in its use.

          A consequence of this is that as at 18 April we have more than 60 health workers who are presumed to have been infected in the workplace. This includes a large number of rest-home carers. This gets me more than a little angry.

          Despite all of those issues, and another big one that I will soon come to, I have remained optimistic. … read more via hyperlink above …

          *Keith Woodford was Professor of Farm Management and Agribusiness at Lincoln University for 15 years through to 2015. He is now Principal Consultant at AgriFood Systems Ltd. . He can be contacted at [email protected]. Keith’s previous COVID-19 articles are available here.

  28. Several houses sold at auction in Canberra today that I was watching as an observer. Maybe clearance rates will tick up. The good news is they mostly had somewhat “low” prices compared to what they might have pulled a month ago.

    I don’t mind decent clearance rates at low prices, the agents will talk up the clearance rates and it might flush out more sellers.

  29. Had an entertaining afternoon on https://auctionnow.com.au/
    e.g. 17 Crimea Street Parramatta.
    An opening bid of 600k was offered, auctioneer rejected this and threw in a vendor bid of 1.1 million, but was met with silence and the property passed in.
    Several others had similar stories – no bids or rejected bids, then passed in.
    Will be interesting to see how many make Domain’s stats

    • I still don’t understand how ‘vendor bids’ are legal. Seems like cheating to me, but hey, RE in Oz is a religion so you can get away with all sorts of fraud and deception it seems…..

        • Maybe the auctioneer could kick in 50%. It was their professional misjudgment that led to the vendor winning the auction.

          • haroldusMEMBER

            I know. Surely if you win an auction, you win an auction.

            I guess I’m being facetious, because how can you buy something you own, but equally, how can you bid on something you own?

            Enraging bullsh1t.

          • “I guess I’m being facetious. …”

            In this instance, not at all. It is entirely consistent with the premise of an auction. The bidding has closed and there is a winner. If the real estate agents protest they can be soothed by pointing out that it is likely every week will have a 100% rate for houses that go to auction.

      • Fair play to the vendors, they made some strong bids to control the auction and beat out all the other bidders!

      • No vendor bids allowed and reserve disclosed before auction. So all parties know what the minimum price is. Would make things fair.

    • The Traveling Wilbur

      Any future comments along these lines must come with a trigger warning. For A2.

      And a link to a box of tissues.

  30. Registered for an Auction in Buderim on the Sunshine Coast. Last sold for $804k in 2007, mortgage possession sold for $675k today. Agent sold a house for $1.55 million in the same street a week ago. Wonder what the bank will do when the valuation comes through on that $1.55 sale, or will they just ignore it.

    • This is a good point

      Do you get the bank to order a val before you exchange or put an offer in or pay for a valuer yourself

      To derisk things a bit

      • Its the new [tm] Carthaginian civilization … duh …

        But hay the monetarists will tell you Rome blew it when it got high on QTM and nothing to do with the one thing that Rome cared about more than anything else – Wheat. I mean it was the original reason for the treatment of Carthage in the beginning – need the land for its wheat production – which eventually included all of north Africa.

        You can pretty much track the rise and fall of the empire on this one commodity alone.

        • migtronixMEMBER

          Nonsense. Egypt was always the bread basket and they were quite happy to sell it. The trouble with the Hannibals was over expansion in Spain…

          • I think you need to up date your anthro mig … classical stuff is getting a bit dusty.

            The whole Carthage event was about wheat and subsequently the takeover of the north of Africa as well the highlands. Imaging from space is accelerating discovery at a pace never seen, its manifold by decades, also see LIDAR in Central South America. Completely blows the classical view out of the water E.g. only anglophone and near east civilizations built large complex societies.

          • migtronixMEMBER

            None of that is true. After all they salted over carthage, not something you do if you want to grow food on it!

            The first Latin Punic war was in Sicily.

          • Mate all the currant antho supports it, including the fortress system to defend it, it clearly cuts across the entire north coast of Africa and the interior highlands. Rome need wheat more than gold or any other babble, it had to feed the masses and army. Are you even aware of the latter stage of roman elites and farm land, how its productivity was diminished due to infighting and losing the plot.

            “The notion that the Romans salted the earth around Carthage is a bit like the story of Washington cutting down the cherry tree. It is something every school child knows, and is also something that, in all likelihood has no basis in truth.”

            https://thedeathofcarthage.com/1615/did-the-romans-salt-the-earth-around-carthage-after-they-destroyed-it/

            I warned you ages ago that its OK to walk through the narrative, but for the sake of your mind not to fall into it or incorporate it to your base code [tm] – you’ll end up like Java.

  31. Matt Taibbi has gone independent. Even though he was given broad freedom at Rolling Stone he believes that any perceived conflict of interest, or inferred partisanship due to a masthead, should be removed. His most recent post is on the generosity of the current bailout to the financial sector. While not a surprise it is still staggering in its scope and brazenness.

    https://taibbi.substack.com/p/the-trickle-up-bailout

    • Neoliberalism for all its moving goal posts on shifting sands was and still is about having a two tier social structure based on the rights wealth granted. Its history dating back to pre great depression and its resurrection post post WWII until becoming dominate again in the mid 70s.

      Hence why it has always been anti democratic.

    • footsie – all that high farlutin talk of principles and independence sounds awfully like journo-speak for having been boned. His forensic and abrasive style always seemed a weird mix with whatever Rolling Stone is these days. Anyway his description of Goldman Sachs as ” a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.” is in itself a career definer.

    • Narapoia451MEMBER

      Interesting article. Anyone who votes Republican and isn’t in the top 1% is literally [email protected] But there are plenty out there that aren’t in that demographic who seen to think it will benefit them, despite constant evidence to the contrary.

  32. happy valleyMEMBER

    Wonder whether Malcolm is going to be a team member in Scotty’s Team Straya?

  33. Here’s some rental negotiation anecdotes. Two houses I know in Melbourne are trying to negotiate their rent down. Both have 4 housemates and both houses have seen job losses and slashed incomes. Both of them have been trying to negotiate for a reduction for a few weeks. In both cases the agents have requested a quantity of paperwork that would make centrelink blush. Some is deliverable, some isn’t. (It’s Melbourne so there is some cash in hand work that has disappeared into the ether.) The interesting thing is the most recent actions taken by both houses.

    One has decided to stop paying rent. They entered into the discussion in good faith, have been tenants for many years with few, if no problems, and are putting it on the other party to do some work. They realise that there are blacklists and threats of revenge at the end of this and don’t care. Rent that can’t be paid, won’t be paid. They also guess that once this is over they will have more options in the rental market than they have ever had before.

    The second house is letting the real estate agent call the shots. Even though they don’t have the money they are attempting to scrape it together and fear the consequences falling out of favor. Though they are not hopeful that it will resolve with any concessions given towards them they will play the game to be seen to be acting in good faith.

    It’ll be interesting to see how it resolves for both households.

    • I reckon only of those two households is having a real go in the ScoMo sense. And it isn’t the soft c0ck second one!

    • If he has stopped paying rent it will go to Vcat and he will be forced to pay the unpaid rent and the landlord will be forced to drop rent by up to 25%. If he doesn’t pay anything he can still be evicted in Vic.

    • What about the package announced by Vic government to help renters? Or that just like ScoMo’s announcement, talks and nothing to be delivered?

    • If they have a big deposit and opportunity to buy then if the market crashes then I guess being blacklisted for rentals won’t matter.

      Might hurt them if after this they won’t have opportunity to buy when prices are lower?

      If I was still renting from my horrid landlord I would have stopped paying just to spite him knowing I could afford to buy and not care about blacklisting. But that was only because my landlord was scum.

      If I had a decent landlord I would have negotiated.

    • Chinese Plague

      I’d buy a $9 phone from Coles and just have a voice and text SIM.

      Use IPad on wifi for anything else.

      Unless the government is going to pay for everyone’s data plan, it’s no enforceable.

    • Banana ManMEMBER

      No, but probable cause in attempting to pervert the course of justice- car pulled apart and maybe a body cavity search. If they are nice. Or they could lock you up on anti trrsm laws without charge and legal representation for a bit.

  34. Just think, if John Howard had thrown Ansett a freaking bone in 2001 and saved the livelihoods (and some lives) of its employees,we wouldn’t now be faced with the prospect of China owning our second airline.
    He changed the trajectory of this once fair and decent country forever.

    • happy valleyMEMBER

      Absolutely and for the worse, but he is still venerated for reasons that are beyond me.

      Surely (?), Josh Rainbowberg (now that every foreign acquisition above zero needs approval) would not wave through an acquisition by Chin-ah?

    • Don’t think so. Australian Airlines was rated the second worst run airline in its global peer group. It was saved from total ignominy by Ansett. The only surprise with the failure of Ansett was that it had been propped up for so long.

  35. innocent bystander

    took longer than I expected

    The third case is a West Australian Rio Tinto worker who had recently travelled to Bali on holiday.

    https://www.abc.net.au/news/2020-04-18/artania-cruise-ship-leaves-fremantle-after-coronavirus-outbreak/12161296

    WA seems to be getting off lightly with CV19. I am little surprised to be honest, what with the penchant for cheap Bali holidays, not to mention a few FIFO reside there.

    https://www.macrobusiness.com.au/2020/04/daily-iron-ore-price-update-balance/#comment-3803172

    • Bogans can’t help themselves. As a moth is to zapper, so is a bogan miner to a cheap Bali holiday.

  36. I have not heard of a single australian who has tested positive for corona virus after returning from Bali.
    The aussie media loves a good bali beat up, so it makes me wonder.
    Bali was full of chinese december January February.
    Its very odd.
    edit i just read the post above, but hes still the only one, out of all the 1000s of aussies travelling to bali every month

    • SnappedUpSavvyMEMBER

      Violet leaf oil applied to anus has not fixed thing? Should work on all muslims

      • The Traveling Wilbur

        Please try an application on one of the target group and let us know if you observe any adverse reaction.

        Thanks.

    • Sensationalist headline,
      paid for by our taxes.
      Highest number of cases outside China. The population is also 260 million, double Japan 2.5 times the Philipines etc.
      535 deaths from 260 million people. Even if thats only a tenth of the real figure its not a big number.
      The Hospital system has a bad reputation. And the politicians even make ours look good at times.
      Makes you wonder about seasonality though.
      Also so far the major outbreaks havnt been in Bali where wyou would expect it TBH, but in the polluted and heavily air conditioned cities like Surabaya and Jakarta.

    • Mate the dems are less a political party and more a criminal cabal at this point. Hillary Clinton was less political candidate and more evil queen of the damned.

      They make Trump fundamentally viable. Without them, no El Trumpo. You know it, I know it, pretty much the whole world knows it.

      • That is not even an original argument on MB you parrot. Totes uses that line incessantly – well if it wasn’t for the other ones being what they are I wouldn’t have to follow this one – with regards Labor.

        • Imitation is the sincerest form of flattery. I mean – why would it being original or not have a bearing on its reality.

          Hillary Clinton and the Dems are massively corrupt, and make Nero (of fiddle/fire fame) look like a choir boy.

          Obama’s war crimes, Clinton Foundation corruption, Bidens Ukraine/China adventures, the pervading stink of pedos throughout the Dem establishment, not to mention corporate media complicity that fully deserves the term fake news.

          It was a foregone conclusion hard-left or hard-right would win. Given the cultural dominance of the left since the 90’s, pretty much every interested observer picked hard-right ascendancy globally. This is how it works.

          It was only a matter of time before Augustus turned up at Rome-on-the-Potomac. Are you really surprised Trump got elected? Will you also be surprised when he wins re-election?

    • “If the tenant stays in there, I can continue as long as I’m at least working,” he said. “But it is going to cost me 150 bucks a week to keep the place with the tenant in there.”
      Oh no, looks like the landlord might actually have to chip in some of their own money.

      “Mr Hartwig’s loan was recently switched from interest-only to principal-and-interest, increasing his costs”
      Oh noessss.

    • Oh yeah. How about this landlord:

      “If the tenants are at the bottom rung and we’re in the middle…”

      No pal. You have a debt you can’t afford on a property that no longer attracts enough rent, your partner’s job is toast and you are now trying to sell your property but can’t. You are heading for bankruptcy.

      Meanwhile the renter only needs to find a property with lower rent and they will be fine.

      YOU are the bottom rung!

      • adelaide_economistMEMBER

        His concept of his place in the economic pecking order would be hilarious if it wasn’t so wrong. He thinks being on the hook for an illiquid asset (‘trying to sell since March’) that he clearly can’t afford makes him ‘one up’ on his tenant. Straya eh.

        • Correct!

          It’s because in Straya having a huge debt is a good thing that makes you awesome. So his giant unrepayable debt means he is well up on his tenant who probably just has a bunch of small Afterpay debt. What a looser ™ !

  37. Oops …

    US intelligence agencies alerted Israel to the coronavirus outbreak in China already in November, Israeli television reported Thursday.

    According to Channel 12 news, the US intelligence community became aware of the emerging disease in Wuhan in the second week of that month and drew up a classified document.

    Information on the disease outbreak was not in the public domain at that stage — and was known only apparently to the Chinese government.

    US intelligence informed the Trump administration, “which did not deem it of interest,” but the report said the Americans also decided to update two allies with the classified document: NATO and Israel, specifically the IDF. – snip

    https://www.timesofisrael.com/us-alerted-israel-nato-to-disease-outbreak-in-china-in-november-report/

    • migtronixMEMBER

      “The 2019 Military World Games, officially known as the 7th CISM Military World Games and commonly known as Wuhan 2019, was held from October 18–27, 2019 in Wuhan, Hubei, China.”

      There’s a reason they weren’t interested, they brought it in

      • Without going CT mig it puts a spot light on the claims about ignorance and allocating blame on others for their own ineptitude, but like Bush Jr being informed by the FBI of endemic mortgage fraud a war as being fought.

  38. Good read

    https://www.wired.com/story/question-productivity-coronavirus/

    The cult of productivity doesn’t have an answer for this crisis. Self-optimizing will not save us this time, although saying so feels surprisingly blasphemous. This isn’t happening because you didn’t work hard enough, and it won’t be fixed by optimizing your morning routines and adopting a can-do attitude. After the quarantine, after we count the lives lost or ruined, recession is coming. A big one. For millennials, it’s the second devastating economic calamity in our short working lives, and we’re still carrying the trauma of the first. This time, though, we know it’s not our fault. This time it’s abundantly clear that we didn’t deserve it. And this is exactly the sort of crisis that gives people ideas about overturning the social order.

    • All those negatively geared boomers will make for a sour soylent green we will all have to eat.

    • Powerful stuff, thanks for sharing.

      I remember having this discussion about the limitations of improving productivity with a hospital bean counter. “There was no justification to be paid for overtime,” he said. “Doctors and nurses just had to be more productive,” he said. I questioned what was the endpoint was– to constantly improve productivity year on year, was the ultimate goal to have a single doctor and single nurse looking after the entire hospital? He had no answer.

      The part about working harder and harder also resonates. Some years ago I was having a discussion with a colleague I met at a dinner meeting. I was just starting out on my journey, building up a practice through part time sessions. He told me he had started off the same way, and had really enjoyed that time in his life. Now he had half a dozen investment properties, was quite stressed out and working long hours. He was candid enough to admit that some of his investments, particularly inner city apartments were lemons. I was curious, and enquired about his level of savings. He told me that if he had to stop work, he only had enough to last for a month. I did not tell him I had enough to last 10 years.

  39. Is Trump calling for a civil war?

    Liberate Virginia??
    Liberate Michigan???

    From what?
    The rule of law??

    He believes the virus is real, it’s killing tens of thousands of his countrymen, he stands with scientists and doctors everyday for his presser, yet…

    Liberare?
    Minnesota?

    Why??

    The man’s

    Unhinged.
    Depraved.
    Will probably instigate a civil war.
    Even though I think he’s too cowardly to actually mean it.

    • Trumpy’s pulling a manoeuvre straight out of Mao’s playbook: America’s Cultural Revolution.

    • ErmingtonPlumbingMEMBER

      The scariest thing about Trump is just how fken dumb he is.
      Sociopathy, Ambition and rat cunning is all he’s got.
      If his IQ was any lower he’d be considered the full Retard.

    • happy valleyMEMBER

      Of course, Trumpy probably intended to promote civil war because didn’t he go on to say after “Liberate Virginia” etc that their citizens should exercise their 2nd Amendment rights – ie the rights to keep and bear arms?

  40. night night …

    Coronavirus, Crisis and the End of Neoliberalism

    …”Neoliberalism was quickly shown to have hollowed out, fragmented and part-privatised health systems in several countries, while it also created a precarious and impoverished working class that is highly vulnerable both to disruptions in their earning capacity, and to health scares because of their lack of savings, poor housing, inadequate nutrition, and work patterns incompatible with healthy lives.
    In the meantime, the destruction of the social-democratic left had rendered the working class politically unprotected. These processes culminated in unseemly commotions for (state-led) Chinese output, in which the USA has increasingly behaved like a crazed bully, stealing the masks and ventilators that it could neither produce nor buy, and insulting weaker countries to boot.

    http://ppesydney.net/coronavirus-crisis-and-the-end-of-neoliberalism/

  41. http://bilbo.economicoutlook.net/blog/?p=44724

    Bill Mitchell says we need more , over 6% of GDP., stimulus.

    Also talks about how in March teenage unemployment improved, says it’s likely a blip but I wonder if it’s related to the large drop in temp immigrants (March figures probably too early), will be interesting to watch if this section of labour market outperforms as temp visa holders fall, though would likely be hard to tell in current crisis.