Weekend Reading: 30-31 May 2020

Global Macro / Markets / Investing:

Americas:

Europe:

Asia:

Trans-Tasman:

Leith van Onselen

Comments

    • ErmingtonPlumbingMEMBER

      I havent been around MB latley due to juggling a shyte load more Jobs than usual,…thanks for noticing Bra.
      Same goes to LSWCHP.
      Ill try and find more time for me MB Mates this weekend.

      • ErmingtonPlumbingMEMBER

        Alright Ive gotta go and pick up a HWH from Plumbsrs CoOp now and install it but im gunna come back and play as soon as im done.

        Whats goin on with Skip?

        • Some of the groupthink [tm] posse are finding wiggle room more difficult as the window dressing goes up in flames.

          I’m fine and enjoying work, out did myself on my eldest sons pork rib roast last night, butcher gives me a free pork skin roll on the side – you cut it in about half inch scrolls and zomg …. oh and pan gravy.

    • Word is the UK is about to allow 300k HK residents with existing British passports and direct family right to migrate to the UK!

      Nice little boost to the economy post Brexit…

      • GunnamattaMEMBER

        I’ve heard another word this week that potentially Australia would look at something similar (along with UK, US Canada and possibly NZ). My guess is the next load of refugee visas will be for people from HK escaping the CCP

        • DominicMEMBER

          We would never pass up the opportunity to wave in some customers for the property mob. And, in this case, look like good guys for doing it.

          • happy valleyMEMBER

            And there will be bipartisan agreement on this from the rubber-stamp Albo party, as don’t almost all pollies just love political donations and favours?

          • “And there will be bipartisan agreement on this from the rubber-stamp Albo party”
            Seems they haven’t cottoned onto the fact that newer Asian Immigrants vote LNP unlike the old days. Specialy if they got money.

        • Markus Paddey

          Yeah, I expect 2021 migration quotas to be 700,000 to 850,000. Mainly Hong Kongers fleeing CCP and Indian grannies fleeing Covid-19 on family re-unification visas.

          It will be a great boost to our economy, especially the hard-working, Liberal-voting Hong Kongers.

        • Rorke's DriftMEMBER

          Wonder how those Honkers are going to enjoy going from 15% tax rates to 47% for modest earners with the move.

    • Ronin8317MEMBER

      The only way the Chinese navy can reach Taiwan, without being blasted into smithereens, is by swimming.

      • happy valleyMEMBER

        Nah – they’ll just sneak over on the ferries which ply the very narrow separation between the two countries each day. I think Foreign Correspondent did a program a few months ago (?) on the two countries. They are within eyesight at one place? And a swim is possible? Plus a good old submarine would be useful?

  1. Former Triguboff lawyer claims he was sacked for refusing to lie

    https://www.smh.com.au/business/companies/former-triguboff-lawyer-claims-he-was-sacked-for-refusing-to-lie-20200529-p54xnv.html

    Mr Callaghan claims he was dismissed from his employment after telling Mr Triguboff in a meeting, “I’m a solicitor and can’t include something in an affidavit which I know isn’t true.” Mr Triguboff allegedly replied: “Listen my friend, you write it my way or you can f–k off.”

    • Harry,.. what a upstanding guy.
      Just the sort of person you want to buy an apartment off.

      • happy valleyMEMBER

        And he is definitely the bloke who will take all his billions with him when he finally falls off his mortal coil.

    • Markus Paddey

      Harry’s dad lied about not being a war criminal. Harry and his brother arrived here illegally from Shanghai in 1947, but weren’t sent back because they couldn’t be found.

  2. Well I had a win this evening after spending 3 days troubleshooting a wiring gremlin on this old Honda Prelude. The ECU would not switch on, after much testing I found the fuel pump circuit was blowing a fuse due to a dud fuel pump, which in turn caused the main relay to not switch on and then trigger the ECU..(it didn’t help that it had an ancient alarm system in it, which I promptly removed)..

    Managed to get the car to run on a can of ‘start ya bastard’ which was enough to verify everything should be working. Will get a new fuel pump now and hopefully after 4 new tyres will be able to take her for a spin to see what else is wrong. 🤣

    Video of the victory here.
    https://youtu.be/j1Fy_iCjW8c

    We got the old girl for $600. Spend another few hundred in towing and parts and consumables. There is a lot of joy in bringing a car back from the dead. 2 days ago I was ready to bin it. Haha.

    • Can’t believe Harry would fight this over $500k unless there is nothing too it.

      • He’s a grumpy old miser with no hobbies and only gotti for a mate. His only interests are money and exercising power. So this is probably what he categorises as “fun”.

    • Always a joy to see someone fix something rather than throw it out and buy new.
      If i had any actual manual skill i would try it myself.

      • You could always buy a cheap car like this and give it a go. Nothing to lose and it’s a fun way to learn.

    • boomengineeringMEMBER

      Gavins calling. Auto computers. Home is where the heart is..
      Also had a win yesterday on a winch that an electrician couldn’t fix, wiring to wrong terminals as well.

    • buttzilla twennythree

      common stuff for sitting vehicle, pump to relays to ign to ecu – probs all the way down, hope for no RF degradation.

      • Funny it was the first thing I was gonna replace the fuel pump. But I figured we could get it to run on that start ya bastard for a few seconds, but when I saw no spark I was perplexed what else could be wrong? Check engine light was on, looked at the service manual which told me to repair grounding issue in several wires. I chased all these wires on the car pulling things apart. Then found a revised service manual which had several new steps between all that and 1 of them was to check fuel pump fuse. Which I found was blown. I had checked all the ECU fuses to no avail… I was annoyed at myself. Could have saved myself a lot of hassle. It was also worth removing the spaghetti loom that was the alarm system. I also cleaned up several ground points which were pretty bad.

        I have photos of it before we started engine bay was covered in red dust. It’s amazing how a small clean can make a big difference. I think a good buff will really transform it.

        • buttzilla twennythree

          I really want to import some Honda Beats or a horrible but cheap NSX. Maybe even an S800 ’68/’69. Probably some good opportunities from Japan over the next few. Could even flip them to yanks. Also early RX7’s (~1050kg ones)….

          • Yeah I have a very soft spot for an S600, my friend seen in the video, his mum had 1 in the 70s and he has 8mm footage of it on Station Street in Port Melbourne. They are a cool little rig, and quite a few around, but most of them are missing the original engine and in parts.. An NSX would be hard to find at a reasonable price. I saw a cheap 1 in Ireland for 24,000 euro about 10 years ago. Thought it was too expensive compared to my RX-7. :).

            FC RX-7’s seem to be the next car that will go up in value. I’ve noticed prices up and up lately.

          • drsmithyMEMBER

            NSXs are like Skylines. A cheap one even in poor condition would be a very unusual find.

    • Banana ManMEMBER

      Ended up with a super long wheelbase ford transit the other day, was going to use it for storage… 900 because the motor was foxxed. They wanted 6k for new engine plus installation costs so the guy pretty much gave it away. Turned out to be a single 8mm bolt on the fuel rail was loose, allowing the injectors to dance around and no compression. Mega high roof; the thing is great!

      • boomengineeringMEMBER

        Hey Banana, hope things go well for you. Transit is what inspired me to buy my my Sprinter ( also high) and was glad I didn’t go the T.V. as the one I saw’s first home was the mechanic shop. Lucky you found a easy price reducing fault.

        • I’ve been looking for either a sprinter van or crafter to travel next year. What have you got

          • Banana ManMEMBER

            This rig is a 2007 lwb high roof transit. Personally, I usually only go japanese. I agree with you Boom, not the thing for me, but they command an eye watering price for the super high roof versions as you can put a shower in them; which is what I intend to do. It has log book service history, the injector problem sounded like a broken conrod, super knock. I can see how if you didn’t want to work on it you could easily diagnose it mistakenly by ear. So much dum Ford stuff going on though, mainly trim bits with a flimsy design. Replaced the heater blower motor also- steering column had to come out!

          • boomengineeringMEMBER

            tony, tried 5 times to send you info, 4 phone 1 home computer, all failed.
            Well this went through so I’ll add, it was a glowing report on my short wheel base Sprinter.

        • Absolute BeachMEMBER

          Reckon it’s a set play for some mechanics. Customer walks in with a simple injection or ignition fault. Gets told it’s low on compression or cracked head…but zero proof but they wouldn’t know a bolt from a nut. Cars worth less than the repair/replace engine. Mechanic says “I’ll take it off your hands for a grand….save you the towing, etc, etc bull” Customer walks out with a K and no car. The car ends up on some second rate yard at a 5-10k earn for the mechanic.

          • Banana ManMEMBER

            Definitely have to pick your battles, lots of cars are just crep. Binned a suzuki vitara this week because it was cursed. Great concept, didn’t work. Will never buy another suzuki.
            I’ve respect for folk like you that can live in Richmond and not go postal with the Lismore City Council. How’s their game plan; businesses are moving from the cbd, so we’ll jack up the rates and red tape to try and make up the difference…

          • I get a lot of joy from fixing things. Even when it’s not financially viable or the most economically sound way forward. I just hate waste, but like learning and the challenge.

            These cheap cars are the best way to learn because if you make mistakes it’s often not a big financial loss.

          • arthritic kneeMEMBER

            For a while I used to buy non-functioning small outboard motors off eBay as projects. Zero background knowledge other than working as a teenager at a hire boat place and noticing a high percentage of faults can be fixed by logic alone. Download a manual from the web, teach yourself about engine and basic electric. Was great. Kept me sane when the twins were young and pure satisfaction from the first roar of the engine. Made no money but broke even for hours of entertainment’

          • Banana – Ballina council. They’re just as bad – how’s the twin pool disaster. And they got rid of the kids wading pools with no consultation. Morons. I emailed the GM and said it was a fiasco – he did not take it at all well.

            In any case I have to admit the Ballina roads are generally pretty good (but what’s with the sh5tty NSW road engineering – compared to the back roads of regional Macedon ranges and goldfields shire it’s like the Luftwaffe have conducted years of aerial campaign and they remake the roads half heartedly )- I am not at all excited about the Lismore council. Perhaps I’ll try and get onto council. Strange cat amongst the pigeons. There’s a bit of unrest about the SPV rate change

    • DominicMEMBER

      Not sure why you’re looking for a new job Gav. You can Reno old vehicles and sell for a profit – I’m sure the missus would be onboard 😉

      • Lol, there is a reason this car is sitting in my friends yard and not mine and it’s not because I love working in the dark. 😃 The missus was not onboard with this idea. But my friend really wanted to save it and I agree it’s worth saving, but the trick is not to over invest in it if we are going to flip it.

    • Nice one Gav, the preludes a great car. Look forward to seeing you bring it back to life.

      • Haha, yeah I was going to start a channel but it’s gonna take a while to build up a subscriber base and make any money from it.

  3. https://www.cdc.gov/coronavirus/2019-ncov/hcp/planning-scenarios.html

    Worth a read
    Current CDC COVID modelling

    5 scenarios
    Scenarios 1-4 use different theoretical values for key variables
    Scenario 5 uses current CDC best estimates for these variables

    Current best estimates:
    1. R0 = 2.5

    2. Symptomatic case fatality rate is age stratified. But overall = 0.4%.

    3. % of asymptomatic infections = 35% (which will reduce the infection mortality rate to 0.3%)

    4. Infectiousness of asymptomatic individuals relative to symptomatic = 100% (ie no difference)

    5. Percentage of transmission prior to symptom onset = 40%

    6. Incubation period = 6 days.

    Lots of other data re healthcare usage.

    • there are two issues with the data presentation
      first is providing separate data for Symptomatic case fatality rate and for % of asymptomatic infections … because most of people don’t understand or don’t want to spend much trying to understand these numbers so they just see fatality rate and that’s what they take out
      second problem is providing only overall fatality rate (even when age stratified) is quite misleading in cases when a disease presentation and outcome is so selective when it comes to age and other health issues. This can make freak out some people who should not be worried and also can make not worried enough some people who should be worried.
      To someone who is up to 60 and relatively healthy this is literally no different than getting into a car, flu or some other benign disease while for very old and frail people it’s as bad as black death.

      Such more detailed data would also show how poorly targeted government measures around the world were and still are. From the very beginning it was clear that the disease kills elderly and frail and yet despite imposing the most expensive measures ever recorded most of deaths were among elderly and frail who were separated from the general population (elderly age care system people and hospital system people).
      Governments were spending more on preventing daycare and primary school kids getting infected (who are perfectly safe from it and don’t even spread it easily – if at all) than preventing coronavirus entering aged care facilities and hospitals where it kills large percentage of people.

  4. The excellent Damien Booey’s chart on Friday made me look further into investment credit growth for property. It actually went negative (12 month growth basis) for the first time in recorded history in Australia in September 2019 and has gradually got more negative each month (moving 12 month) (RBA data).

    Chinese cash is holding up the Australian property market.

    Credit growth correlation with RE prices growth decoupled in around 2009. Around the time yellow cash started flowing in.

    • I have making this point for a long time.
      The impact of Chinese money on Global property has been underestimated.

      I think it will all fall over with a Yuan deval.

      • I agree. I became really really concerned after the GFC when I realised how many people in BJ had bought property in Australia. It absolutely sickened and horrified me.

        I’m hoping the yuan devals soon. I had friends who were told by some bankers (in Yinchuan so not sure how in the know they are), that the yuan would devalue around June. The Bankers advice was to either buy gold or property.

        • So those who can get money out are doing so hand over fist to get ahead of the deval right now = likely to drive property a bit further before the cliff hits.

          • I’m not sure if the advice was to buy property o/s or domestically, but it was basically get any savings you have out of the CNY and into something else. My friend and her Chinese husband are planning on leaving China eventually but they have [almost] no money so I think it was more along the lines of if you are planning on needing that money outside later, change it into a better asset now. It is interesting that the advice wasn’t to go to USD/Euro or any other foreign currency but a hard asset. Anyway OJ tells me that Oz is very much on the nose inside China and many are rethinking investing/migration plans here as per the SMCP article of a little while ago. He also mentioned that a lot of Chinese who have invested here are looking to sell and get out of Oz. I guess we’ll have a clearer picture in a little while.

      • happy valleyMEMBER

        Once in the last few months, DL-S removed the word from his standard preface for Damien, but very soon after reinstated it. In DL-S’s eyes, Damien must have had an off day once.

        • Booey suggested the AUD was undervalued at 55c when DLS suggested it was going to “burn”. Hence the loss of excellent for a short time.

          Booey’s call turned out to be actually quite excellent and the title was returned.

          • harsh, but in my vague memory, about right. Wish I had listened to Damien that day, would be wealthier now
            However, there is a longer game in play. Ask me in September. DLS may still prove to be right

    • reusachtigeMEMBER

      Great to see there’s a lot of normal people commenting about just how much of a typical doomsday article that rubbish is. This sh1t has been getting written for decades now. It’s so much LOLOLOL. Meanwhile, boom!

    • Mate of mine asked me what soil preparation he should use for his winter broccoli crop

      – should he sprinkle it with MMT because he heard that causes endless growth with no cost?

      – Or should he give it a dose of liquid COVID because he heard letting it rip might kill a few of the weaker ones but will be better in the long run?

      What shall I tell him?

      Detailed advice gratefully received.

  5. Regarding the article about UBI being essential. The article expresses the problem of money very clearly. The money supply needs to grow because of the way it is created as debt with interest tacked on. Inflation will not be a problem as long as printed money is less than the interest requirements on debt. The problem is that interest is an exponential function. If the money supply is growing exponentially that means the real economy needs to grow exponentially too. This can’t happen for long. A growth in the money supply (without inflation) means a growth in human population or a growth in human consumption. Both need to stop (and reverse) if our quality of life is to be preserved.

    • roylefamilyMEMBER

      Yes, and raise the population part of it and get called a racist by “greens”.

  6. Chairman MeowMEMBER

    Aaaaaaannnnnddddd…NOTHING about anti-police brutality protests spreading across the USA. Too inconvenient a truth?
    Calls for President Xi of China to provide the American rebels with the means to defend themselves against the regime have not yet been answered.

    • Because those people looting in the US are thugs.. only if they are in China and HK will be called protesters.

      • All those shops looted in Hong Kong. The number of flatscreens stolen there was staggering.
        And we know how protests end in China (quickly and with a big suppressed body count).
        Are you suggesting the Minneapolis police deal with protesters in the same way the Chinese authorities would?

      • Chairman MeowMEMBER

        Thanks for the clarification Niko. Do you think there’s a chance that China could also learn to handle problems like Islamist insurgencies in a civilised manner like the USA? I mean by bombing the shi-ite out of Xinjiang, installing corrupt warlords to do our bidding and leaving it a smoking crater inside of the barbaric approach that China is taking-forced re-education?

        • If you mean what I think you mean then I agree. I think there is internal strife there and that really means civil war – two factions fighting it. And if I am right neither of those two is any good. All driven by greed and they just fight who is going to take bigger peace of the cake. These people really fckd up a truly great country – when they had capitalism.
          Putin was right when asked few years ago on how to deal with the US – his response was something along the lines – We leave them alone. They are on course to eat each-other anyway.

          • Interested PartyMEMBER

            Protests/riots in the locales below….all within 24-36 hrs.

            Minneapolis
            Saint Paul
            Los Angeles
            San Jose
            Louisville
            New York City
            Bakersfield
            Houston
            Columbus
            Washington D.C.
            Detroit
            Atlanta
            Cincinnati
            Las Vegas
            Charlotte
            Knoxville
            Milwaukee
            Denver
            Dallas
            Chicago
            Boston
            New Orleans
            Kansas City

            Co-ordinated.
            Antifa.
            The attempted take down of the USA from within.
            You will fail…soros.

          • Or perhaps it’s just a bunch of p1ssed off people expressing their p1ssed offness with a sh1t Government and a system that works against them.

          • @WN & IP – that is what I am hoping for but it may not be the case. IP might be right too.

          • Banana ManMEMBER

            I think i’m firmly in the IP camp. Antifa/ Soros UBI. Lock people down – allow flare up. Lock people down harder. No freedom to protest unjust laws. Have you seen the videos of the cops bailing from thee cop shop? Its so ridiculous its like a b grade hollywood movie scene. CNN was collateral damage i’m sure, probably the smartest thing the rioters did. They hype everyone up.

    • Banana ManMEMBER

      This^^
      Like black block setting cars on fire in front of the media scrum during the G20. Optics.

    • Untersberg Mountain

      Would be keen to know size of queues. Mid lockdown you could not near the place.

    • Super super busy in Lismore bunnings yesterday. Same for Mr Murphys at lunchtime

      Still item limits prevail at bunnings on storage which is most inconvenient as I need them to move all the sh)t in the shed

      Farm/shed sale today

      Fun times

    • haroldusMEMBER

      I’m thinking of getting another pod. They are only 200 bucks or so and the seedlings are shooting up.

      It’s pretty cool.

      I would have one for the kitchen and one for the seedlings.

      • Oh nah dont bother.. well, there are a few options there.
        Firstly you can buy extra 4 pods and then just rotate them around. They are self watering pods so they will live well for a couple of days outside.
        Also I read on their blogs and do this too… the dispersed light still keeps any pods placed around it still get light. So what I do is have the herbs that live in it as pods. Bur for seedlings I want to sprout, i have them in those seedling tray pots in a mug next to the urbi. The dispersed light is definitely enough to sprout them and you dont disturb the seedlings when you have to replant. Win win.
        Having said that I have a second set of lights on back order as well from their kickstarter campaign for a smart garden lights. Ordered a spare set of lights for $60 and going to buy the stand once it comes in. I just wanted to spend min on a kickstarter campaign because i figured .. you know.. might lose the money if they arent successful lol. But i have no doubts about them now. It definitely works!

  7. Pink batts scheme was related to the deaths of four. How many people killed themselves, died from stress or basically had their lives screwed up as a result of the robo debt tragedy?

    • happy valleyMEMBER

      And the LNP had one of their MP flunkies being interviewed this morning, defending Minister Robert? A very sick party?

    • Mate, ‘prosperity doctrine’ says such people are sinners and underserving for being poor and should therefore be punished.

      Happy clappers are dark dark fvkrs underneath the toothy smiles. Hill song is the nastiest fvkrs of all. Make Pell look like a saint of mercy.

  8. Stewie GriffinMEMBER

    Neoliberalism is the official ideology of the ruling class and unfortunately, what used to be a Keynesian social democrat Labor Party has collapsed into the “liberal” wing of authoritarian market politics. Prime Minister Scott Morrison’s gang is already winding back all recent concessions.

    https://independentaustralia.net/politics/politics-display/neoliberalism-is-dashing-all-hopes-of-a-post-covid-19-utopia,13936

    lol – My word it is. NewLiberalism… bow down before yea new cultural elite.

    Culture matters.

  9. Trump folded on China, like a deck chair on the lawn of the White House on Friday afternoon. Capitulation! Stocks loved it. So did Xi. Maybe Trump can’t multitask. Anyway, Australia caught on a limb with the anti CCP stuff. Expect imminent reversal from ScoMo. Our new best mate will be…China. Let the grovelling and lickspittling commence.

  10. Arthur Schopenhauer

    Restarting our industrial capacity around batteries should be a no brainer.
    Raw materials insitu: check. (One of the few places on earth!)
    Simple manufacturing to start with: Check.
    Existing basic know how: check.
    Battery vehicles starting on the base of the tech ‘S’ curve: Check.
    Huge growing market: Check.
    Basic research done and paid for by others: check.
    Build an ecosystem around basic manufacturing capacity: Check.
    The basics:
    – electric motors and batteries
    Start with:
    – electric mowers & garden tools
    – electric bikes
    More sophisticated:
    – electric trucks
    – house hold battery packs
    Then more complex:
    – Vans
    – Passenger vehicles
    Then start miniaturizing:
    – Tools

    Team up with other countries in difficult strategic positions like Israel, Japan and Korea. (Maybe just is Israel, ‘cause they don’t have many friends either 😀)

    Now is the time. The plan could be contained in an A3 sheet with 18 point text.

    Fvck, it’s so obvious it’s probably time just to start a new venture.

    Yet LNP and so-called Labor (SCL) pollies think, ‘no, let’s import more people and build the shvtiest of shvt boxes’.

    • Nah, like Trump an A3 sheet with dot points in 36 pt print would still be too much for Scotty from Marketing.

      Anyway, he has already has the sermon handed down by the IPA/Gina/Rup.

    • Narapoia451MEMBER

      Mate people who work in factories like those needed for cars and batteries tend to belong to those union things, and vote for labour so the LNP will never invest in that no matter how much sense it makes. Ideology over outcomes for Australia should be their motto.

      • Arthur Schopenhauer

        Complete bull from someone who has never stepped inside a factory, let alone worked in one. There are very few Union members outside mining, the public sector ( inc all health) and construction.
        Most people that work in manufacturing want to keep it alive.
        In Germany, Unions have played a critical part in keeping high-tech manufacturing alive.
        Unions didn’t kill Australian manufacturing, successive governments did.

    • MountainGuinMEMBER

      I think we already have started. Sonnen and maybe Alpha both set up manufacturing household batteries in SA following preferential treatment of locally made batteries in their subsidy program. Redflow, a locally grown flow battery, has also been kicking around for a while and had been getting some jobs while still improving their tech.
      If we can get some scale on household and school sized batteries, I guess car batteries could follow

      • Arthur Schopenhauer

        Yeah, I hope those guys can maintain it. Federally, there is really no support for manufacturing in the LNP. Manufacturing is reflexively equivalent to ‘Unions will steal all our money and enslave us in a Marxist dystopia’. While battery means ‘Greeny’.
        Hard to counter the ideology.
        Anyone with half a brain can see stored electrical power equals big profits.

      • You guys do understand that companies like Sonnen are not making the actual Battery units rather they’re assembling a big battery out of lots of small imported battery cells (probably 18650 elements)
        Not belittling their achievements BUT there is a huge learning curve (both for manufacturing / materials processing) to go from assembling a big battery from lots of little battery cells to making the entire thing starting with the raw Lithium Oxide, Carbon anodes and Cobalt.
        Not to forget that lots of the early Lithium cells had a nasty habit of catching fire, the knowledge of how to prevent this happening is propriety and not something that a reputable Battery maker (like say Samsung) is likely to share just because Aussies want to make their own batteries (and they’re such nice guys).
        Not raining on anyone’s parade but lets keep it real.

    • drsmithyMEMBER

      Look, if there were any way this could work, private industry would already be doing it.

      The only other alternative is big Government getting involved and picking winners. Are you some sort of commie ?

      • Arthur Schopenhauer

        😀 I wonder if there is some sort of middle ground? Could it be exclusively practiced by the countries dealing best with the pandemic (excluding AU & NZ)? 🤔

    • And solar Arthur. Our R&D is leading edge and similar manufacturing strengths and weaknesses as batteries.

  11. “It is also alleged that by engaging in such conduct, you failed to treat the Vice-Chancellor, the Vice-Chancellor’s staff, and UQ Security with respect and courtesy in your online communications, and in a fair and respectful manner regardless of individual differences.”
    We are the hollow men
    We are the stuffed men
    Leaning together
    Headpiece filled with straw. Alas!
    Our dried voices, when
    We whisper together
    Are quiet and meaningless
    As wind in dry grass
    Or rats’ feet over broken glass
    In our dry cellar

  12. happy valleyMEMBER

    Broken news: The White House is in lockdown because of the demonstrations.

    Pass the popcorn.

      • happy valleyMEMBER

        Could be. Definitely a time to be well-stocked with popcorn. HK v. US demonstrations – which will win gold, gold, gold?

      • migtronixMEMBER

        Exactly. Last time during the mid terms it was antifa or whatever – Trump is a cretin and runs his campaigns on hate. Vile human.

        • His bring in the military, looting shooting tweet, partly censored by Twitter, was a vile statement by a man so unfit for his high office. It has to be intentional on his part. Like the “good people on both sides” tweet a couple of years ago.

          • migtronixMEMBER

            Yup. Then he pretend walks back etc, it’s just patent at this point. If he was doing it with some kind of purpose I might accept it as politics, but he isn’t. He’s just enriching himself and his family and doing nothing about any of his promises – well except to Israel, they get anything they want and twice on Shabbat

        • Bingo…
          nothing better to ‘energize’ the base than some race riots. Funnily they seem to happen just before presidential elections.
          Like clockwork. For decades all the way back to 1968 when Nixon won the White House.

      • Trump has already divided America, and the world for that matter but what’s left to conquer! The US is a steaming pile of Trump.

      • @Cristian,

        I think you over credit him. He’s a dodgy property developer who happened to end up President. His only move is to make stuff up to try to get what he wants it save face. Normally he has enough leeway to double down. This time he couldn’t. He’s just a buffoon who happened to become the president of the USA.

  13. happy valleyMEMBER

    Nah – just your standard sideways market movement, before the next boom. Just ask Reus.

  14. ‘The Magnitsky Act from 2012 authorizes the US government to sanction those who it sees as human rights offenders, to freeze their assets, and ban them from entering the U.S.’
    Financier Bill Browder initiated the Act when his accountant was allegedly killed by corrupt Russian authorities.
    In ‘The Magnitsky Act Behind The Scenes’ director and human rights activist Andrei Nekrasov sets out to make a movie following the story as it was told by Browder. As Nekrasov delves into the details, more and more inconsistencies appear, until he has to make a 180 degree turn regarding his initial beliefs.
    https://www.youtube.com/watch?v=q8hhP4kIoBI
    This documentary has been banned in most countries due to threats of lawfare by Browder. Browder went to Russia after the collapse of the Soviet Union. His ‘investment’ fund grew from $25 million to $4.5 billion, but it wasn’t enough, he also wanted to skip on paying Russian taxes. He renounced his US citizenship to avoid paying taxes in America.

    • Browder was a fairly obvious fraud especially if people looked at how he made money and the ethics around that, and still his lies were believed and propagated by nearly every western media outlet. It makes you realise that the main difference between media censorship in the west and China is at least most people in China know they are being lied too.

    • CFMEU needs it’s pork just as much as Harry trig and the banks…

      Beauty of the beast- the most powerful interest groups are all singing from the same song sheet.

    • Let the bipartisan house price pump begin. It’s the Australian way. Good policy in 1950s when everyone got an opportunity to buy; now large numbers already so priced out, the new boosting just widening the gap between haves and have nots. Labor all over it like a rash.

    • The only reliable thing about this government is that they will automatically reject any policy that comes from Labor because they’ll never admit Labor got anything right.

      I also don’t believe any of the projected numbers about construction jobs being lost – have spoken to enough tradies and construction workers who still have plenty of work lined up in the next 12-18 months.

      Prospective buyers are already cagey, but if people think there’s going to be a big new grant they will probably hold off on buying anything now.

    • FCKEN. Foreign students from affluent families can afford the fees, so paying for a 14 day quarantine won’t be an issue if they’re genuine.

  15. migtronixMEMBER

    Where’s Ermo?

    Gavin can you ask your Mrs to ask his Mrs if he can out and play?

    • I thought he checked in today? He’s up to his elbows in shyte. Not sure he wants to touch his keyboard for a while. 🙂

    • They should abolish it for the bottom 90% at least, Americans are so poor that minimal inflation will result from that money not being destroyed.

    • Indeed. I’m in a small technical field. There are probably less than 20 of us in Australia. I’d put myself at the lower end of that group. Remote work, should it take off, suddenly makes my role more attractive (few want to move to Darwin) and myself more vulnerable. Skill up or perish. Or move to middle management.

        • Do I really have to? Learning is hard. It’s unfair. Why didn’t daddy have lots of money and the right sort of friends?

          • I think I’ll be ok. I lucked into my field and now I’m considered an expert of sorts. My skills are ok. And transferable to similar fields, or god forbid, consultancy. I’m just lazy and melodramatic.

          • Cars are pretty digital now, but you still need a good mechanic near you..until of course Tesla’s take over the world and require the equivalent of Apple Care to fix them. Then we is doomed.

  16. migtronixMEMBER

    Then I wish I was in Dixie, hooray! hooray!
    In Dixie Land I’ll take my stand to live and die in Dixie,
    Away, away, away down South in Dixie,
    Away, away, away down South in Dixie

    • Thanks for posting. He calls it as it is “A lynching at the highest level”

      • Old mate keeps spinning it to blame the orange one, but West is talking revolution, which burns everyone. Such a shame the Bern turned out to be hollow

  17. The Grey Rider

    Anecdata…today’s Courier Mail glossy RE liftouts….
    72 page liftout for existing RE (lots double page ads of trophy homes)
    24 page liftout for new home and developments
    New boom, or start of forced/panic sales?

  18. migtronixMEMBER

    Trump is telling all the people he fired but made their bosses whole with all time highs “don’t worry I’m still cool with lynching n!ggers”

  19. tim tams are $1.82 at woolworths rn

    i bought 4 packs of em and im going to eat tim tams for dinner because im an adult now and i can do what i wanna do

      • One of the upsides of this pandemic is not having to do any work travel. There’s many things I don’t like about work travel – too long to list here really – but chief among them is having to watch that fvkcing Qantas safety video with the cvnt grey nomad sucking his cuppa through a Tim Tam on every flight.

        • Ditto the suited bogans in London scene.

          First off I thought they were suppose to be hungover Qantas pilots.

        • Pre-flight videos are the worst. Especially ones featuring smug boomers in first class. 😀

        • You meet real locals travelling for business vs tourism and everything’s paid for. Not everything is bad.

  20. migtronixMEMBER

    I got my first real six-string
    Bought it at the five-and-dime
    Played it ’til my fingers bled
    Was the summer of ’69
    Me and some guys from school
    Had a band and we tried real hard
    Jimmy quit, Jody got married
    I should’ve known we’d never get far

  21. If black people are so enraged about their perceptions of being oppressed and racially disadvantaged by the evil white man, then why do they not simply return to their ancestral Africa where they don’t need to worry about the evil white men causing them oppression?

    • The white men did not want to take them back. Needed cheap labour they could dominate.
      They tried in Liberia but ??

    • Next time you take issue with some entrenched inequality or massive abuse if power within Australia don’t make a fuss about it, just take your own advice and head on back to wherever your family came from. That’s what really helps places improve. Doing nothing and running away.

      • So those South Sudanese in Melbourne shouldn’t have run away from Africa then? They should’ve stayed and ran around the streets there like herds of apes, smashing and setting fire to property and robbing shops? 🤔

    • this place really is a hive of scum and villainy.

      go back to where you came from d1psh1t, you’re not wanted in this country.

      • I hope you can find a way to get rid of your self hatred. Trying not to project it onto others might be a good first step for you.

        • got a funny feeling you’re the one with the giant chip on your shoulder diddums.

    • Arthur Schopenhauer

      Really? There’s about as much chance of that as 50% of Australians returning to the United Kingdom.
      You’re either an epic troll, or a deeply bigoted twit.

    • haroldusMEMBER

      It is a beautiful Autumn day here in Petersham.

      Guess, just guess what the renovators are doing.

        • haroldusMEMBER

          You see footsie, the daughter has an obsession with Swaylor, so I am regaled with this song at least daily (and Welcome to New York etc etc).

          I do have to give TS credit, she created these songs and has a great ear for melody. And I liked Look What You Made Me Do, and You Need to Calm Down. She does a lot with country chords.

          She also wrote the saddest song I have ever heard (and I am being serious here). If you are a big softie it is very difficult to listen to this song without crying. She has only done it live a couple of times as she doesn’t want to exploit the memory.

          https://www.youtube.com/watch?v=Yu_BV9A_bjo

          • It didn’t catch me. I can’t think of a sad song.It isn’t sad in the Ronan way, but Graham Coxon released an album called ‘The Sky is too High’ in 1998. He’d just broken up form his partner, was an alcoholic and very unhappy being in Blur. It has a really petulant feel to it. Just a frustrated guy who has the time, money and ability to make a mess of an album. It can be a hard and ugly listen. Extremely basic lyrics with the instruments doing the emotional lifting. I think the album holds up better than Blur’s stuff as it feels more like an album that doesn’t really have a time and place. The more I listen to and think about it the better I think it is. Here’s the catchy lead off, ‘I Wish’.
            https://youtu.be/L97rYBr84hI

          • Blind melon – soup. Kills me every time.

            Chris Cornell singing Tighter and Tighter, Blow Up The Outside World, Like Suicide, The Day I Tried to Live a kills me just kills me. First line of BUTOW and tighter in particular kill me. Watching Living Colour’s cover of Blow Up the night it happened and seeing The singer fall apart just kills me.

  22. Guy on Gumtree just told me I know nothing about metal detecting.. His photo points to be about 20 years younger than me and I was around 22 when I first used metal detector.
    He got offended that I offered $400 for a machine that sells $1.050k new and he is asking for $1k second hand “Only used 2 times”.
    If he doesn’t get lucky and sells it for around $600 now and this crisis goes bit longer and it will he will be begging people to give him $300.

    • haroldusMEMBER

      We had a poster recently called Factory Worker I think, and he lowballed on a boat with a tradie.

      The response was not, as you could imagine, overjoyed. The mouth on it! Is there any need?

      Where is Factory Worker anyway?

      • Chinese copies that don’t work. There is a guy who lists few all the time and when I asked him if he has proof of purchase his response was – mate, I buy $100k of these every year.. maate these are genuine.

        I was close to respond with – maate get fckd.

  23. went for early walk and what an enjoyable experience that was.. new signs galore.. 1x For Lease and 1x For Sale to the existing stock that still lingers.

  24. migtronixMEMBER

    The wind has been brutal all day.

    Come to hellbourne and freeze your nuts off enjoying the construction site that used to be your pub but couldn’t open because no-one can work except construction…

    • What’s your local Mig? I frequent a few around Fitzroy (The Standard, The Napier, Grace Darling). I’m hanging for roo fillets from the Napier.

        • When the Rob Roy became the Workers everything became more expensive and thus making it harder to make my working dollar go further there. Plus, the quality of live music dropped, IMHO.

    • Instead of whinging incessantly about it why don’t you move ?

      (Get can-do)

  25. i’m a four feet tall chinese man who has been living with human immunodeficiency virus since 1987

  26. migtronixMEMBER

    Smith and Marx walk into a bar: a history of economics podcast.

    Don’t listen to it, super dry and skippyish

  27. I don’t know if this is reported, but our own Damien Klassen is the topic today in the Oz article from Roby. Behind the paywall.

    • Yeah.. Sydney circling the drain now too.. -0.43 on the daily index last 7d and -0.60 for Melbourne.
      Date Sydney(SYDD) Change in Daily Melbourne (MELD) Change in Daily
      30/05/2020 173.28 -0.03 155.97 -0.03
      29/05/2020 173.31 -0.02 156.00 -0.05
      28/05/2020 173.33 -0.19 156.05 -0.09
      27/05/2020 173.52 -0.04 156.14 -0.08
      26/05/2020 173.56 -0.08 156.22 -0.09
      25/05/2020 173.64 -0.07 156.31 -0.11
      24/05/2020 173.71 0.00 156.42 -0.15

      They totally need to throw billions at it.

  28. Don’t know about others … but watching the libertarian alt-rht posse devolve into post modernism is quite the show ….

      • haroldusMEMBER

        It looks like they have been devolving into post modernism, if you can believe that. It’s whack.

          • Found myself drinking tea at the kitchen table with a foul-mouthed dwarf and a giraffe with an Irish accent. And I don’t even like tea. I don’t recall how it ended but I continued a (platonic) relationship with the dwarf for ten years while we raised chickens on his ranch.

        • reusachtigeMEMBER

          Yeah. I once accidentally had a man wrapped around my member and just closed my eyes and ignored the indignation!

          • haroldusMEMBER

            [email protected] you reus. You have ruined this song for me.

            Wrapped Around Your Member
            The reus

            You consider me the young apprentice
            Caught between the Scylla and Charibdes
            Hypnotized by you if I should linger
            Staring at the ring around your member

            I have only come here seeking knowledge
            Things they would not teach me of in college
            I can see the destiny you sold turned into a shining band of gold

            I’ll be wrapped around your member
            I’ll be wrapped around your member

            Mephistopheles is not your name
            I know what you’re up to just the same
            I will listen hard to your tuition
            You will see it come to its fruition

            I’ll be wrapped around your member
            I’ll be wrapped around your member

            Devil and the deep blue sea behind me
            Vanish in the air you’ll never find me
            I will turn your face to alabaster
            When you’ll find your servant is your master

            You’ll be wrapped around my member
            You’ll be wrapped around my member
            You’ll be wrapped around my member

      • Um turning – inverting every event into something its clearly not because it screws with the ex ante views its based off E.g. pretend reality meets reality thingy … “Their facts” in the market place of ideas vs fact and how much market share one can – Win [tm] – with proselyting vigor.

        Its so Devo ….

    • Welcome to 21st. While we are there, you might change that Iggy Pop hairstyle.

  29. haroldusMEMBER

    I’ve got an idea for a tech startup.

    I’ll offer to blow Elon for free, and then sell the sprute on gumtree at $100 bucks a pop.

    As an added bonus in 20 years we will have a tech revolutionary army.

    I’m working on teh GoFundMe now.

    Can’t wait to outsource the blowing to Bangalore.

  30. Untersberg Mountain

    Other than Alexandria, which brother Haroldus has helpfully identified, does anyone know if any colocated Bunnings/Dan Murphys further west?

    I have about $500 space on my credit card I would like to full up!