Global Macro / Markets / Investing:
- 7 reasons the stock market may face a severe bout of turbulence next week and beyond—only one is rising coronavirus cases – MarketWatch
- A brief history of Elon Musk’s festering feud with rival automaker Nikola – Futurism
- The Inflation Debate Is Returning to Markets Flush With Cash – Bloomberg
- The coronavirus-led economic recession may be over, but the depression has barely begun – MarketWatch
- The lowered economic forecasts of the IMF are a warning to the world – Economo
Americas:
- Coronavirus could deplete Social Security as early as ‘this decade’: analysis – Yahoo
- Forget a Quick Recovery, U.S. Economy Is Headed to a W-Shaped Recession – Medium
- US in the spring of the pandemic – Modediplo
- Mexico Announces Phase-Out and Ban on Glyphosate Herbicides – Sustainable Pulse
- Social Security Would Be Drastically Changed Under This Presidential Candidate’s Plan – Motley Fool
- Fed Reveals Bond Purchases Including AT&T, UnitedHealth, Walmart – Bloomberg
Europe:
- Germany, France push for tighter EU defence amid US strains – Lux Times
- Radioactivity spike seen in northern Europe; claims Russian power plant damaged – NZ Herald
- Amazon workers in Germany to go on strike over coronavirus infections – Reuters
- Russia said a leak of nuclear material detected over Scandinavia did not come from one of its power plants. – BBC
- ‘They are the new poor’: Covid-19 fuels rising poverty in Italy – The Guardian
- EU-Britain intensify talks on post-Brexit future – Channel News Asia
Asia:
- Japan auto companies triple Mexican pay rather than move to US – Nikkei
- US bill aiming to delist Chinese companies could claim American investors, businesses as unintended victims – SCMP
- Chinese Firm Says Coronavirus Vaccine Candidate Shows Promise in Human Test – Reuters
- Dozens Arrested as Hong Kongers Protest Planned National Security Laws – Reuters
- Hong Kong Activist Joshua Wong Says He Will Be “Prime Target” of China’s New Security Law – Channel News Asia
- China threat: Boris warned UK must review relationship with Beijing ‘without delay’ – Express
- Chinese Professor Convicted of Stealing Trade Secrets for China – VOA News
Trans-Tasman:
- Victoria records 75 new Covid-19 cases – The Guardian
- JobKeeper plan to be kept secret until after byelection – The SMH
- Australia could create hundreds of thousands of jobs by accelerating shift to zero emissions – The Guardian
- NSW Labor MP whose home and office were raided by AFP ‘not a suspect’ in espionage probe – ABC
- Victoria is ‘right at the edge’ of being able to contain its second peak of coronavirus cases – ABC
- Opal Tower unit owners launch Supreme Court case after 500 new defects discovered – ABC
- Coronavirus pushes back government privatisation of Sydney bus services – The SMH
- Top bosses at Virgin Australia give insiders’ account of what went wrong at the struggling airline – ABC
- The Case for a Federal ICAC.. updated – Michael West
- New Powerhouse not a museum but global ’embarrassment’ – The SMH
- Scott Morrison says Qld are ‘biggest losers’ as borders stay closed – News.com.au
- Treasury estimated Small Business Cashflow Loan Scheme could cost Crown $3.25 billion – Interest.co.nz
Latest posts by Unconventional Economist (see all)
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Lol triple Mexicans pay rather then move to US. Trump will be pleased.
A press release from Beijing
Would be funny to see Mexicans trying to leave the USA to get back in ..reverse caravan LOL.
That would make Trump happy!
Its a big LOL all around.
Still cheaper not to move at tripled hourly rates and as one of the manufacturers comments they don’t know how long the higher minimum wage will last.
That is code for the Democrat working class party might win in November and scrap the changes so we can go back to paying Mexicans $5/hr instead of $16/hr.
NEW ZEALAND … TRANS – TASMAN BUBBLE DISCUSSION …
Coronavirus: Time for Australia to make calls on trans-Tasman ‘bubble’, PM says … Brittney Deguara … Stuff NZ
https://www.stuff.co.nz/travel/news/121981023/coronavirus-time-for-australia-to-make-calls-on-transtasman-bubble-pm-says
The trans-Tasman bubble could still happen, but it’s reliant on Australia making some decisions.
Prime Minister Jacinda Ardern said on Monday that the next steps for the Covid-19 bubble lay with our neighbours. She said New Zealand’s goal remains keeping Kiwis safe.
“Ultimately, it’s up to Australia to decide whether or not they’ll go for a whole of country approach or a state-by-state approach. … read more via hyperlink above …
Todd Muller says keeping NZ border shut is ‘untenable’ in long term … Henry Cooke … Stuff NZ
https://www.stuff.co.nz/national/health/coronavirus/300044787/todd-muller-says-keeping-nz-border-shut-is-untenable-in-long-term
Mike Hosking: Our borders are closed. The economy is strangled. What are we waiting for? … VIDEO… NewstalkZB / NZ Herald
https://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=12343783
Powerhouse Parramatta will be bigger and better than before by Professor Barney Glover AO is president of the Board of Trustees of the Museum of Applied Arts and Sciences.(Western Sydney Uni VC with 875,000 salary)
https://www.smh.com.au/politics/nsw/powerhouse-parramatta-will-be-bigger-and-better-than-before-20200629-p55775.html
just pure demagogy … enclosed in lies and misinterpretations
existing PHM has 20000 sqm of exhibition only space
18000 of “exhibition and public space” in new museum includes floor space for 10 cafes/restaurants and bars, a hotel with “60 studio residences”, great banquet halls, performing stages, … very little of that 18000 “exhibition and public space” is going to be museum exhibition space but rather commercial and private use convention centre style space.
This is from the official design brief (I have never seen a document with so much contemporary “fake left” bullsh%t in it – it hurts as you read – not even Labor/Greens would be able to come up with stuff like that)
https://maas.museum/app/uploads/2020/02/Powerhouse-Parramatta-Stage-2-Design-Brief.pdf
notice how meeting rooms may include First Nations Elders … meeting but can also include Deloitte meetings that are not mentioned.
Also residences may include foreign students, event space may include Thai festival during one weekend of the year but will include private commercial concerts and other events during other 51 weekends
someone calculated that of 18k sqm of “exhibition and public space” around 5k sqm will be real museum exhibition space equivalent to almost 20k in current building.
more of this demagogy
there were no enough hotels around Ultimo so regional kids were unable to come and stay overnight … spending billions to build a museum with a hotel was a solution instead of spending $1m per year for accommodation for those 10k kids
so basically new powerhouse museum will be a semi private convention centre with locomotive No.1 and Catalina airplanes as a decoration.
This is unprecedented cultural vandalism organised and supported by a “conservative” party in NSW. This is not much worse than what ISIS did in Palmyra and Nimrud
Went to several museums while in London over Xmas was surprised how much they have changed in the same way, cafes, restaurants, etc around every corner on all levels!
That is true but at least they are still museums with cafes built around. This thing in Parramatta is going to be a museum built around entertainment venues. New powerhouse museum exhibition on <5k sqm will be just a decoration for 13k sqm of semi private convention centre space – our historical and cultural heritage will just be scenography for corporate cocktail parties.
We live in the dumbest country in the west!
“Australia will recruit 500 cyber spies and build on its offensive capabilities to take the online fight overseas in a $1.3 billion funding boost, amid rising tensions with China and a growing wave of attacks against the nation’s critical infrastructure.
…
The ASD will be given new capabilities to allow the agency and Australia’s major telcos to prevent malicious cyber attacks ever reaching millions of Australians by blocking known malicious websites and computer viruses more quickly.”
Hahahahahahaha 1 billion dollars for Norton anti virus??
Is this a joke?
https://www.theage.com.au/politics/federal/offensive-capability-1-3b-for-new-cyber-spies-to-go-after-hackers-20200629-p557bk.html
Rather than laugh, cook up some way to be on the receiving end of that billion dollar funding and cash in!
We live in the dumbest country in the west!
You bet we do, we don’t even know our West from our South.
COVID 19 … THE HISTORY …
The Coverup of the Century | New documentary on how the CCP covered up the coronavirus outbreak |NTD
https://www.youtube.com/watch?v=cav-OCuNmBI
Are those “no masks needed” Chinese Trump supporters! 😁 @2:45 mark
Lol and in Wuhan 🤣🤣🤣
https://www.zerohedge.com/markets/83-tons-fake-gold-bars-gold-market-rocked-massive-china-counterfeiting-scandal
@Simon and this type of corruption flows through down the chain and these are the “Investment Visa” types that come to Australia and buy up business and realestate with the blessings of our stupid Govt.
Yep, makes you wonder just how big it is in China when you read stuff like this, numbers do seem unbelievable despite size of China
http://www.deepthroatipo.com/alibabas-fiscal-year-end-earnings-call-5-22-20/
“Almost none of Hubei’s local trust companies and banks has been involved in (Kingold’s) financing,”
The whole of Hubei were in on it, lols, wonder if this will mean counter parties loose trust in each other so even if they take option 2 the markets will seize up any how …
You would think there must be more of this, so more than 4% of China’s gold reserve affected.
https://bcghendersoninstitute.com/book-interview-trade-wars-are-class-wars-with-matthew-c-klein-d1aba0b9dced
interview with Klein about his & Pettis new book, sounds good
https://caitlinjohnstone.com/2020/06/26/free-speech-in-the-us-empire-is-as-illusory-as-free-range-eggs/
“…an attitude of conformity has been manufactured from the top down to ensure than those who rise to the top of the most influential platforms are the ones who know how to toe the establishment line without being told.”