Weekend Reading: 27-28 June 2020

Global Macro / Markets / Investing:

Americas:

Europe:

Asia:

Trans-Tasman:

Leith van Onselen

Comments

          • haroldusMEMBER

            Well, that’s true actually.

            But I can’t decide if that is really a bad thing.

            One thing about modern is, there is often not that discernible a melody, whereas more classical/romantic stuff often had multiple instruments doing the melody.

            Modern stuff is often very skilled tho. Maybe a tiny bit atonal?

          • Nowadays it is probably easier to be a musician professionally, so there is more time to acquire higher skill. Also maybe people start playing at a younger age. I can imagine that ‘in the olden days’ it was customary for even the sought after musicians to still have a regular job. Same like sportsmen in the early days all had regular jobs, even when competing on the highest levels and after winning the trophy or championship they would return to the factory on Monday.
            I noticed your comment about the yellow house painting and the setting reminded me of one of my favourite books which I haven’t re-read in too long a time. it’s called ‘Journey to the End of the Night’ (Voyage au Bout de la Nuit) from Celine. It plays around WWI time with very dark humour and a lot of misanthropy, it always cracks me up immensely due to his style of writing. I think you would enjoy it, have a look:
            https://www.amazon.com/Journey-End-Night-Louis-Ferdinand-C%C3%A9line/dp/0811216543

        • That performance reminds me of a mob of poms going to the beach: just because you can do it doesn’t mean you should do it.

          Has it been adapted for ukele yet? Might just be what it needs.

          • haroldusMEMBER

            Well, I sort of agree with this, but what are ya gonna do as the BSO, do the Ring Cycle on repeat? I think they have to try new things within the constraints of the art form.

            I wonder if we are in Weimar now?

          • haroldusMEMBER

            Well I quite enjoyed the first “Chk, tnk tnk WEEEEEEE” she did a few times.

            She is remarkable in her control of intonation and tone (formant?)

        • call me Artie (the member previously known as Arthur)MEMBER

          Thanks Harry. That was good

          When it comes to the fiddle, I rather like David Oistrakh myself, and Anne-Sophie Mutter is quite handy with dragging the old horse-hair across cat-gut, too

          Now I have someone new to look out for…

        • Thanks haroldus. I love the pushing of boundaries of modern classical. Turning to prog, I have been diving into Zappa over the last few months. It works for me. If you don’t already know it, try Pygmy Twylyte, Helsinki ’74 for guitar (and band) brilliance or the whole You Can’t do that on Stage Anymore Helsinki albums or the early 70’s Roxy period.

  1. https://www.youtube.com/watch?v=z4ZAwOQPgms
    The Myth of Deflation with Jeff Booth. I listened to this while walking the dog for an hour the other day. It’s long, but I found myself agreeing with Jeff on technology being an unstoppable force.

    I wanted to share it in WE links because I think it will get attention it deserves here rather then Macro afternoon.

      • @Burb i think you said other day you are a Chem Eng? My daughter is Chem Eng student plus Science double degree in 3rd year. She needs to find some placement experience.., do you have any recommendations of type of location that would be beneficial. TBH she is an absolute gun with science & maths & a bit out there, but is wondering what the point of a double science degree in Australia is?

        • Hi Sool, yes, I can a Principal Chem Eng (run my own one-man consultancy).

          Not easy to get chem eng placement in Australia, unfortunately – there just isn’t much industry around, sadly, to my great grief. Though, your daughter sounds well placed with a Chem Eng / Science double – should be attractive to an employer if she can demonstrate and maintain a distinction average.

          Which Uni is she at? (I’m UNSW alumni)

          Her uni should have plenty of links that she can try, via the Chem Eng department, as well as the careers department.

          Start making contacts and applying for places early.

          Water sector is a good place to start. There are a number of good large and medium water treatment companies.
          Try the mines – they have placement programs, but are also very competitive. Be prepared to travel and stay somewhere for the duration of the placement – it will help.
          Oil and gas are good options. Again, be prepared to travel and stay somewhere for the duration of the placement – it will help.

          I suggest operational / site placement over consultancy placement, as they’re more likely to take her on, and operations will often give her better return for her time, and provides better employment prospects.

          Be willing to work for free for the duration of the placement, too, if need be – I’ve helped two youngsters in the past and they got snapped up as a result of their experience with me – partly because it’s so hard to get good experience and mentoring in Australia these days (the Boomers have hollowed out the whole experience now – it’s so sad, truly…).

          Feel free to send me an email, as per below; I can’t provide placement for her at the moment, but can at least provide some further contacts and advice in addition to her and your efforts.

          [email protected]

          I’m biased, sure…but your daughter has chosen well, even if it’s a bit of a slog to find a good Chem Eng job job. And, goodness, you work your guts out to complete the degree! it really is one of the hardest and most brutal degrees in the world, and is consistently rated in the top 3 hardest in just about every survey I’ve seen…Chem Eng really is the cream of engineering professions, producing the most broad-based, rounded engineers, capable of thinking both big and small, technical and creative, and capable of doing just about anything in any field, really unlike any other engineers or scientists. So biased, yes…but not far from the truth 😉

          Your daughter will be OK; it’s just that the jobs in Australia are lacking, and the culture needs to be rebuilt after decades of being neglected.

          • Thanks for the reply BurbWatcher, that was so good. I’ve spoken to my daughter re your reply & she was so excited that someone was even interested. Will keep you informed re how she gets on. Your advice re placements was excellent & has made her think much more broadly about options.

      • DominicMEMBER

        Technological advances are deflationary (mildly) but money pumping is not. Technological advances are inherently limited, money pumping is not.

        • True, but at some point they destroy the money system by printing like mad men. That’s why I think BTC has merit. It’s finite in a world of infinite madness.

          • That’s my base case — the existing money system is not long for this world. I give it 5-6 years. The cryptos are controversial and polarising but I think they survive (the main ones, at least). Competing money systems are highly desirable to punters. Ultimately, it comes down to the people in charge of the cryptos — they could presumably trash them by multiplying the quantities, but that’s all above my pay grade, being the technophobe I am!

  2. Extinction Rebellion’s spokeswoman has quit the protest group to become a nuclear power campaigner.

    ‘The facts didn’t really change, but once I understood them I did change my mind.’

    https://www.dailymail.co.uk/news/article-8459785/Extinction-Rebellion-spokeswoman-quits-green-movement-lobbyist-nuclear-power.html

    But while renewables can and should be part of the mix in supplying energy to the UK, the technology simply doesn’t stretch to powering our country 24/7.

    https://www.cityam.com/a-message-from-a-former-extinction-rebellion-activist-fellow-environmentalists-join-me-in-embracing-nuclear-power/

    • Stewie GriffinMEMBER

      The former XR communications head said she had felt ‘duped’ after being surrounded by anti-nuclear campaigners until she read more into the radioactive fuel. Mother-of-two Zion said: ‘The facts didn’t really change, but once I understood them I did change my mind.’

      Goes to show the role of the mainstream media, and the BS ideologies and narratives that they chose that they push, ends up obscuring or casting doubt upon real facts.

      Because it is real facts that help people both understand the root cause of the problem and make good decisions – so much of the media chooses to hide the most likely explanations for the root causes of deep social and economic issues, because the most likely cause offends their contrived sense of moral justice.

      • That remembrance sent me down a Weird Al hole. I found a song in the style of the B52’s about an inventor of household stuffs called Ron Popeil. While Al is doing a suitably nasal Fred Ron’s half-sister Lisa Popeil does the backing vocals a la Cindy and Kate.
        https://youtu.be/WPzolLg7PwM

    • What’s that saying?
      ‘If you’re not a liberal when you’re 25, you have no heart. If you’re not a conservative by the time you’re 35, you have no brain.’

        • Fair point. I agree with that and I hate ScoMo and co. But look at Labor as of late too? With branch stacking and Chinese influence etc..

          I think the expression has some merit though. When I was say 25-27 I felt I was a lot more liberal. Now that I’m 35 I know for a fact I hold much more conservative views. But I don’t vote for conservative parties. I actually like more fringe parties and their policies. My view is we’ve tried the mainstream parties. It’s time to try something new.

          But the overall theme is that saying I somewhat agree with.. or at least can relate to, to some extent.

          • migtronixMEMBER

            You’ve just gone astray because money. You worked for Google and think China influence is a problem…

            If you looked back to the you that was driving around Morocco you’ll realise you’ve changed for the worst. BTW Labor are conservatives

          • drsmithyMEMBER

            Now that I’m 35 I know for a fact I hold much more conservative views.

            For example ?

          • “Stepping to the right as we get older” is a misperception. It is really just stepping the f*ck away.

          • alwaysanonMEMBER

            I can relate – similar age and both of us work in tech etc. And sort of agree with Migs on why too (money corrupts). I have been soo against negative gearing and novated leasing sorts of rorts and was proud to pay my fair share of taxes towards having a proper society. I came here from the US in my mid-20s (for a girl – my now wife – and am now a dual citizen) and loved how much more egalitarian it felt especially around public services like heathcare.

            I’ve always just used the ATO app/site, filled in the info and paid whatever it said without looking into it further.

            This year I’ll have them having withheld ~$100k in taxes already and still send me a bill for another ~$80k (the RSUs I vested in that are like 1/3 of my pay have done really well in this insane market/currency environment and they don’t withhold tax on them). All of the sudden when you are staring at an $80k tax bill, and knowing I likely will again next year, the thought of negative gearing an investment property or two and seeing these tax minimisation fiancial advisor/tax people my co-workers talk about starts to sound like a good idea…

          • @DrSmithy I’ll give a few examples.
            1. My feelings around immigration. I think unregulated open borders is not good.

            2. Abortion, with a child on the way my opinion on the topic has changed. I know this is a controversial topic but I’m much more against it now than I was.

            3. Taxes. I was paying $80-$90k on average before. I feel it’s too much. I’m more libertarian these days and want less Big Government in my life.

            4. Re: Gun laws. I think Australia works well. But I understand why people want to own them and be able to defend themselves. Seeing African gangs running wild in Melbourne and invading homes. Plus having lived in JoBurg for a while. I understand that some folks are responsible gun owners. But a lot of people are not. That’s the problem…

            5. I think the traditional family unit (atomic family is good) and although I’m not religious traditional family values are generally good. Kids who grow up with single mum families often commit more crime etc..

            So my opinion on these topics has shifted from my 20s into my 30s. Just some examples. I don’t know what I will think in another 10 years. But I have accepted that my opinions change based on the data in front of me and so that’s why I like the original quote. It has some element of truth.

          • drsmithyMEMBER

            1. Unregulated open borders is a fringe position. To be honest, I struggle to believe it’s something you ever advocated.
            2. So… You used to think women should be allowed to get abortions and now you don’t ? Despite the interminable obfuscations it’s fundamentally a fairly black and white issue.
            3. I’d propose that’s a result of having more money than anything else.
            4. I guess the key question here is what has actually changed ? Gun laws in Australia have been pretty unchanged now for 25 years or so. The conservative position here is, at best, a step short of an Arizona-style guns free for all.
            5. I don’t think many people disagree that children do better with two parents. But the conservative position here would be making it hard for people to get out of broken and destructive relationships, and creating a system that actively punishes people who aren’t standard husband and wife. Is that really something you support ?

            FWIW, as a counterpoint, my views have shifted considerably left as I’ve gotten older. From my perspective, that’s been the product of education, maturity and children.

          • @DrSmithy. We could be here a long time going and forth.

            But..
            1. I don’t think I cared too much about borders in the past. I thought a lot of it was a beat up. But after traveling and seeing how disfunctional other parts of the world are and some real backwards cultures. I started to think more about the importance of letting in the right people.

            2. I always thought re: abortions it’s a woman’s choice. But I’m a lot less comfortable with it now especially in the first trimester. I just think there is plenty of contraception options and then there is morning after pill. But when a life becomes its own life is a hard line to draw. I just feel less comfortable with it than I did. I don’t like the idea of kids growing up in insurable environments and I think earth’s population is growing too much to be honest, but I would prefer that people didn’t have abortions done.

            With regard to guns I’m glad we live here and not the US of A. But I also don’t like big Government telling me how to live my life or regulating every part of my life. I feel they have too much control over us as it is.

            A bit like being forced to wear seat belts or wear a helmet. I still do it because it’s a good idea. But I don’t like being told I have to or I get a fine.

            I’d say left vs right is an interesting discussion in itself. Because I’m more left leaning in many areas than I am right. But I have found my opinion changes over time as my life changes and as I mature, travel and see the world I see things differently than what I did.

          • drsmithyMEMBER

            So, again, I doubt you’ll find many people arguing against keeping out undesirables (in general, refugees are a special case).

            I don’t think I’ve ever met anyone who is in *favour* of abortions. They’d all prefer the situation was avoided in the first place (even a fairly “routine” one will usually leave a mark, mentally if not physically). But that’s a distraction, not the point – the question is whether or not they should be *allowed*, not whether or not they’re *desirable*. Remember that the overall conservative position involves restricting access to contraception and sex education as well, which I’m going to hazard a guess you’re not in favour of.

            Because it’s not about “life” it’s about control.

            An obvious parallel to draw with guns, in terms of licensing, is cars. Are car licenses big government telling you what to do ?

          • Gavin & Dr Smithy … I would like to congratulate you for your reasoned and restraoned exchange of views. Too many have lost the art of a civilised exchange of views and polite disagreement.

          • I actually respect DrSmithy and many other commentators on here. Most of the time. And I think it can be hard to fully convey a point of view through this medium. Since these topics all have multiple dimensions to them. For me, I have noticed myself aligning with some right wing views as I moved from my 20s to 30s. That’s all.

            I have a family friend who is very far left (he says Labor is too right for him) and I joke with him and say they are too left for me. But we agree to disagree. It’s all good banter most of the time.

            My mum is not politically aligned but she would be a Liberal (if she voted, but she’s a Jehovah’s witness and doesn’t vote for religious reasons) but her sisters are liberal voters. My grandmother was also a Liberal voter and business owner. I think Liberals appeal to those who have money and don’t want it taken away. I’m much more centrist, but I find a lot of ideas on the left a bit repulsive at the same time.

            So I don’t vote for either Lib/Lab unless it’s a lower preference vote. I’d rather vote for Flux, Affordable Housing, Sustainable Australia etc.. then put Lab/Greens/Lib after that. I just think the only way we will see real change is not to vote for the 2 major parties.

          • drsmithyMEMBER

            I aim to have as much of a rational and respectful conversation as the other person is prepared to.

            I’ve very few fvcks to give when the other party is spending most of their words on insults and bullsh!t, as some people here are wont to do.

        • billygoatMEMBER

          No one votes for anyone.
          Elections are a dog & pony theatre show with two puppets taking lead roles. Ending scripted. Red & blue costumes. Written, directed & produced by folk in purple robes ..bomber jackets Masses subjected to this tax payer funded public performance every 4 years. MSM do publicity & flyers. Govt printers & cardboard box manufacturers big $$ on contract:)

        • if you less test hospitalized people who have milder symptoms and tend to survive you would change proportion …
          if you only test people who die proportion would go to 100%

          • Arthur Schopenhauer

            There are a lot of under 70s dying over there. A small percent of a very large number is still a large number.

            And if history is our guide, large scale political and social unrest will follow.

          • I’m not talking about hospitalizations or case distribution. The link talks about the age distribution of mortality in Fl! I.e dead people by age.

          • Stewie GriffinMEMBER

            I was reading a link that MB’s filter won’t allow through that there some anecdotal evidence that the virus is weakening in parts of Italy.

            “Italian disease specialist downgrades coronavirus from ‘tiger to wild cat’”

            Should bring it up. This would be consistent with it weakening over time. I imagine by the time the cargo plane arrives armed with the miracle ‘vaccine’ the bat sniffles will be little more than the sniffles.

          • billygoatMEMBER

            Gut feeling: no body died no body got hurt in 2020 Corona production. Simulated reality for the ma$$es brought to you by usual suspects via tv radio & world wide inter web.
            Consume at your own peril.
            Fear is a killer trauma
            Anxiety
            Worry
            depression weakened immunity aka survivor vs death.

      • “.. they are testing only those at death bed…”

        Every stat is fake or unreliable when it is not consistent with your efficient business “ just a cold” / “do nothing” theories.

        You need to get on the phone to Florida and Texas and tell them to chill as they are only testing the young and healthy and very few of them will die.

        https://www.smh.com.au/world/north-america/new-coronavirus-cases-hit-an-all-time-high-in-the-us-20200627-p556rl.html

        Mike Pence needs your support. The poor dude is losing his confidence. A few large Trump rallies in Texas and Florida should do the trick.

  3. reusachtigeMEMBER

    Whatever happened to those great magazines like Penthouse and Mayfair? Even People was ok, you’d see some good b00bs and the Aussie Post with its “bag lady of the week”, where a not so hot chick with a great body would send in nudes with a brown paper bag over her head, was great. Bring it all back I say! Love looking at naked birds (and even blokes massive schlongs in Cleo was great if you accidentally caught a look).

    • Arthur Schopenhauer

      Yep. That’s what a pragmatic culture does. A culture that understands the need to act in the national interest, or be overrun by the powers on either side of it.

      Who is investing in Bain Capital’s buyout of Virgin? Countries that have a strategic interest in our region perhaps?

      • DominicMEMBER

        Bain has access to extremely cheap funding in the US – they don’t need countries to assist. They will restructure Virgin and then float it again at the earliest (most profitable) opportunity.

      • Who is investing in Bain Capital’s buyout of Virgin?
        Interesting question, given what we know about Qantas’ plans and the lack of aircraft demand reflected in their plans, I’d think that the Investors in Bain’s buyout are primarily those that have lost either way.
        Think about the Aircraft owners, where will they be able to sell those excess Virgin planes if Alan Joyce’s assessment is even half way correct?
        What does it mean for them if they are forced to sell planes into a demand vacuum, what happens if they simply park the planes and let the deferred lease / Interest payments simply pile up. Extend and Pretend.
        That’s who I suspect is behind Bain’s Buyout.

    • DominicMEMBER

      This is the falsehood that is commonly spun to get taxpayers onside: “We have to save this 94yr old airline!” National treasure yada yada …

      In other words the inference is that if this airline goes bust it’ll disappear for good. Er, no. If the airline goes bust, the equity holders get wiped out and bond holders and other lenders may take a hit but the company still survives. Its finances just get restructured and it continues on with a more manageable balance sheet. That is all.

      No company deserves a bailout. Bailing out a company is bailing out investors in that company. Nothing else.

      • Arthur Schopenhauer

        There is theory and there is practice. Control of Lufthansa, is an industrial policy. It means a hand in Airbus orders, and a significant influence in airspace policy across Europe, Africa and the North Atlantic. And it is real power.

        It’s always surprising how cheap our politicians are. When real power is served up to them on a plate (partial Airline ownership) they reject the responsibility. All care no responsibility blowhards.

        Australian supply chains are completely dependent on Airlines. Same goes for tourism and sport and business. That’s why proxies for large powers are interested in buying them. To think otherwise is naive.

        • DominicMEMBER

          I’m not sure how any of what I’ve said changes a thing. If you’re suggesting a bailout would be a great time to effectively nationalise the airline that’s different (assuming it wasn’t de facto being controlled by the Govt anyway).

          In any event, the main point I was making was that, when companies go bust they don’t disappear, they just go through a financial restructuring. The only companies that disappear completely are those that are obsolete.

          • Arthur Schopenhauer

            Your argument holds in stable times, when a nation is part of the dominant global power. If a strategic asset goes bust, then it’s natural that the asset can be replaced and ownership (power) will be still held within the dominant global power. That was the case since World War 2, but it no longer applies.

            In our current time, there is a stumbling power, to which our nation is aligned and reliant on, and a rising power that is hoovering up the ownership of key assets all over our region. Those assets are used to assert power.

            In these times, the doctrines of neoliberal University course economics break down, because they can only be exercised under the umbrella of a great power.

            So, what I’m trying to say is the conventional economic approach to a struggling strategic company will damage our national interest.

          • “a rising power that is hoovering up the ownership of key assets all over our region.”

            I think its more accurate to say the previous owners are selling it to them based on business reasons E.g. the buyers are not forcing the sales.

          • Arthur Schopenhauer

            I take your point Skip. It’s a strategic blunder for any dominant power to create an environment where it’s possible IMHO.

        • “So, what I’m trying to say is the conventional economic approach to a struggling strategic company will damage our national interest.”

          I don’t understand how the national interest is impacted – Qantas may be a legacy State airline but it is fully owned by private shareholders these days and definitely does not operate in the ‘national interest’ — it operates in its shareholder interests. If an entity from another country were to take over any of our airlines, it’s irrelevant because they’d still be subject to the laws and regulations of this country – they can’t just pack it up and take it away with them. And if they could, another airline would simply spring up in its place – that’s free market economics for you. Literally a new airline could be born within a handful of months (if not weeks). I simply cannot understand how an airline in a modern economy could possibly undermine the ‘national interest’ in any way shape or form.

          • Skip, I don’t traffic in conspiracy theories and other claptrap from fringe bloggers.

          • Arthur Schopenhauer

            “If an entity from another country were to take over any of our airlines, it’s irrelevant because they’d still be subject to the laws and regulations of this country”
            Hmmm, sounds very Econ 101. In theory, that sounds good, but in practice, the owners of the companies will ultimately choose how they deploy their assets, and which political pressures they will bend to.
            Again, in a world where there was a a single dominant power that controls the rule of law, this may apply. But we don’t live in that world anymore.

          • Sorry Dominic but its a legal fact, that Friedman and then Jensen tried to push that propaganda is another story.

            https://www.nakedcapitalism.com/2014/01/myth-maximizing-shareholder-value.html

            https://www.nakedcapitalism.com/2019/07/rebel-economist-breaks-through-to-washington-on-how-shareholder-value-theory-rewards-the-undeserving.html

            Don’t know what you mean about fringe, top economic blog for over a decade, albeit your personal views does not contravene the evidence.

          • DominicMEMBER

            Skip, the problem with the blowhards at nakedcapitalism is that they (like so many others) have an agenda to push and in order to achieve this they have to adopt a series of rather dubious theoretical and ideological stances.

            Nevertheless, I’ll grant you this: shareholders have been getting a raw deal in recent decades from the management of the companies in which they’re invested, the origins of which are rather complex, but nonetheless explainable. You won’t be surprised to learn that central bankers are once again up to their eyeballs in it but I’ll leave that aside as I’ve explained their role a few times in the past. In the meanwhile the key relationship to understand is the following: management get paid bonuses according to EPS targets; the more unscrupulous achieve these by borrowing large amount of money which they use to buy back equity with – this reduces the free float of company stock and boosts EPS (earnings per share); shareholders are free to sell the stocks in any company that engages in this practice (which is little more than a simple fraud) but many believe they are personally benefitting from the share price boost so choose to ignore it and ‘ride the wave’. It is true that ‘retail’ investors who have their money managed by 3rd parties (Super funds included) may have no idea this practice goes on and they may have no idea whether or not their money is being managed responsibly, but they are certainly free to find out should they be so motivated.

            Monetary policy today aids and abets this practice and investors are now in a mind-set that believes their stock investments will always bear fruit, thanks to central bank largesse. We lived a totally warped and distorted world so making claims that time-honoured relationships no longer work is nonsense — they work perfectly fine, just so long as the policymakers are not fcking everything up. Nakedcapitalism, however, is trying to win eyeballs with pig-ignorant, conspiracy based shyte. But good luck to them.

          • Dominic …

            There was absolutely no means to establish what you said has any meaning – zero.

            If one looks at the links I supplied there is numerous references which anyone can easily verify and it refutes your previous falsehood about share holders. There is nothing in any corporate charter that states it has a responsibility to share holders, but then some are wobbling on about share buy backs now … giggle …

          • DominicMEMBER

            You’re missing the point, skip — it is not mandatory in any country that I know of to be a shareholder in a company. Shareholders own stakes in companies quite willingly. If shareholders didn’t think that the management were acting in their interests then why would they remain shareholders at all? Or become shareholders to begin with? You’re being illogical. The interests of both parties must be aligned, by default.

          • DominicMEMBER

            Butt, the Hertz deal is irrelevant. People willingly bought shares in a bankrupt company — no one forced them. They are taking a punt – nothing more. No different to buying property because you think it’ll go up in price or putting $50 on the 100-1 outsider in the 3.30 at Doomben. It has precisely zero relevance to the argument.

          • Its all parsed out Dominic in the links above, Jensen was even made to make a public retractile of his statements because it was false. Your personal opinions do not contravene what has occurred as part of the historical record, granted your ideological views find this confronting because it does not fit into its rather absurd views about reality.

            You don’t even seem to be self aware of how much over the years it has been a contradiction in what is sold and how it actually plays out. Just like a doctrinaire ideologue like yourself resorting to calling others ideologues, but failing to identify exactly which group that might be and then consider your making logical arguments.

            Again Corporations have no legal demand to shareholders, executives are only beholden to the Corporation and not going broke, shareholders have no rights or claims.

          • SweeperMEMBER

            “If shareholders didn’t think that the management were acting in their interests then why would they remain shareholders at all?”
            wrong question. should be:
            “If shareholders didn’t think that the management were acting in their interests then why would they keep the management?”
            Because very few control the companies they are invested in.
            So management has every incentive to get in, build up their resume, do a few gimmicks, buy back stock, some dud merger, fudge the numbers, over-leverage the business as cover while they raid shareholders money paying themselves.
            Its a breakdown in corporate governance, which was never 100% effective anyway even when shareholders could control their business.
            Guaranteed most CEO’s of major companies wouldn’t even know who their 10 biggest shareholders are.
            How many self inflicted corporate blow-ups,accounting scandals etc. does it take to cotton on to this?

          • To both skip and sweep. If you don’t want to be a shareholder in a company then buy Govt bonds or property or some cash product. No one is forcing you to be a shareholder. People who are shareholders are willing participants – always. Why would someone willingly invest in a business that they knew was going to shaft them? None of what you say makes sense. You’re inferring we live a totalitarian state where they force you to invest in state run companies or something. Totally absurd.

            That said, you may soon get your wish as the Gubmint here has periodically mulled mandating that a minimum portion of Super goes into infrastructure funds — an absolute disaster for personal and economic freedom in this country but the very best wet dream for the likes of you guys.

            And let me assure you sweep, the CEO’s of all major companies know exactly who their Top 10 shareholders are. It’s almost one of the most important bits of information to senior management.

          • You think the CEOs of the banks know who their top 10 shareholders are when the ultimate beneficial owners are probably foreigners hidden behind nominee companies etc. not a chance.
            You are ignoring the way distance between ownership and management means managers are able to take control away from shareholders and “run” the business in their own interests. This is clear from every major corporate stuff up and should be clear in theory as well unless you model a corporation like a vending machine.

          • Ya know what, sweep, I don’t write down what I ‘think’ is going on in the world – I write down what I know for certain and I’m humble enough to ask when I don’t know. When Covid-19 struck I followed the debates with interest but did not opine because I know nothing about medicine. However, that didn’t stop a small coterie of pig ignorant ‘tards from chiming in with opinions and not facts.

            I worked in investment banking for years and I know something of what goes in that neck of the woods and so I share my experience. If you think world works differently then be my guest, buddy, believe what you want, but don’t f#king ‘school’ me.

        • DominicMEMBER

          “In theory, that sounds good, but in practice, the owners of the companies will ultimately choose how they deploy their assets, and which political pressures they will bend to.”

          You make it sound like foreign Govt ownership of one of our airlines could be used for nefarious means. How exactly? The only way this could be true is if our own Govt was in cahoots with the foreigners, which is a stretch. At the end of the day the customer gets to choose who they fly with or whether they fly at all. If locals here in straya didn’t like the foreign-owned airline (for whatever reasons) they would simply fly with someone else. You forget that Tiger Air is owned by Singapore Airlines which is owned by the State of Singapore. And British Airways has been owned by a Spanish conglomerate for over a decade — aside from atrocious service, that relationship changes nothing. If an entrepreneur thinks they can do a better job than the incumbent offerings they will start up an airline to compete and if they do a better job, they’ll take business away from the competition – it’s called creative destruction. How a foreign Govt can have any influence over that situation is beyond me.

          “Again, in a world where there was a single dominant power that controls the rule of law, this may apply. But we don’t live in that world anymore.”

          Dog forbid we EVER have a single dominant power that controls the rule of law.

          • Arthur Schopenhauer

            My views are obviously 🙄 distorted by spending some of my childhood a short drive from the East German border.

            “The only way this could be true is if our own Govt was in cahoots with the foreigners, which is a stretch.”

            Not really.

      • No company deserves a bailout. Bailing out a company is bailing out investors in that company. Nothing else.
        Yeah Nah, Although what you say is true, it’s not the whole truth.
        For a better understanding of the problem I’d suggest you ask yourself why western society has created these Financial constructs of Equity, Junk Bonds, Unsecured Bonds, Secured Bonds etc not to mention Derivatives, and Derivatives of Derivatives…and then there’s Insurance.
        If all that is required is the capital to acquire assets and operate the business than why create or for that matter recognize a Liquidation seniority process?
        How would the outcome change if all capital were Equity and exposed to the same risk?
        In the end we have chosen to recognize these differences and to some extent our choice to recognize Liquidation preference has created ever more preferred entities and simultaneously more suckers taken to the cleaners by our preferences.

        • I worked in capital markets for several years Buck so have a fair idea what I’m talking about. You appear to be drifting into the realms of ‘new world order’ conspiracies. That’s not my thing, personally, but my job is not to dissuade you otherwise.

          • No conspiracy theories mate, just the realization that the financial structures that we create and the rules we create to govern these structures are not being created nor managed for Equitable or Egalitarian reasons.
            Your somewhat simplistic analysis of the Airline system suggests that the Failure of the Equity structure wouldn’t impact the availability of Aircraft in Australia. This is completely wrong because those aircraft are encumbered assets and would in all likelihood be simply repossessed were we to let the entire financial structure fail. As a consequence we let Equity fail but we’ll likely bail out the bond holders because our country needs Aircraft actually at Aussie airports if we’re all hoping to enjoy the economic and social value that air travel creates.

        • DominicMEMBER

          “Your somewhat simplistic analysis of the Airline system suggests that the Failure of the Equity structure wouldn’t impact the availability of Aircraft in Australia. This is completely wrong because those aircraft are encumbered assets and would in all likelihood be simply repossessed were we to let the entire financial structure fail.”

          My simplistic analysis is based on the fact that I dealt with restructurings all the time, back in the day, and things do not happen the way you think they do. But let’s suppose the aircraft lease companies retrieved all their aircraft in the case of a company failure — they’re going to want to get them re-leased ASAP because they’ll incur losses otherwise. Who will they lease them to? Oh, that would be the airline that replaces the one that went bust (in all probability, it’ll be the same airline) with new shareholders and a fresh cap structure. Please don’t call me out on this, I know what I’m talking about and you most definitely do not.

  4. Well, the S&P finished the week with a surprising (to me anyway) downturn. I was sure the manipulators would boost it to finish off with a bang.

    That leaves it down about 220 points or 7% over the last 3 weeks. I wonder if reality is finally intruding into the animal spirits?

  5. Hi everyone,
    My names is Buck and I’m here to F#ck
    I’ll F#ck with your Minds
    I’ll F#ck with your Memories
    I’ll F#ck with your Money
    I’ll F#ck with your Mores
    and for a small consideration
    I’ll even F#ck with your Mrs
    Like I said
    I’m Buck and I’m here to F#ck

  6. NEW ZEALAND HOUSING: BYE BYE BUBBLE PRICING (access background information http://www.PerformanceUrbanPlanning.org ) …

    Auckland apartments selling for substantially below rating valuations … Greg Ninness … Interest Co NZ

    https://www.interest.co.nz/property/105713/apartments-remediation-issues-are-fetching-particularly-low-prices-one-sold-just

    Prices of Auckland city apartments appear to be cooling rapidly with most the apartments that were sold at recent auctions monitored by interest.co.nz selling for well below their rating valuations. … read more via hyperlink above …
    .
    .
    House prices at the bottom end of the market have declined 7.3% from their March peak, while mortgage interest rates continue to slide … Greg Ninness … Interest Co NZ

    https://www.interest.co.nz/property/105655/house-prices-bottom-end-market-have-declined-73-their-march-peak-while-mortgage

  7. migtronixMEMBER

    “I just had the privilege of signing a very strong Executive Order protecting American Monuments, Memorials, and Statues – and combatting recent Criminal Violence. Long prison terms for these lawless acts against our Great Country!”

    This fat fvcks base elected him on the promise that, unlike that unconstitutional globalist rogue Obama who issued executive orders like betting slips, this guy was going to Make America Constitutional Again.

    Now he’s unconstitutionally protecting statues. Anyone else see something wrong with this picture?

  8. Stewie GriffinMEMBER

    We can have an academic promoted for the cause of abolishing whiteness in our own nations, but can we have an academic promoted for the cause of abolishing immigration?

    https://www.theguardian.com/education/2020/jun/25/abolish-whiteness-academic-calls-for-cambridge-support

    Migrants like her will NEVER integrate or assimilate into our nations – they are a cancer in our society, dissolving our identity and attacking our values. People like this parasite NEVER build, they only critique and pull down.

    They are the ones that require deplatforming if our societies are to ever regain control over their own narrative, as opposed to endlessly hearing how morally degenerate we are from some hateful, spiteful, ungrateful gimmigrant.

    Unless a migrant is prepared to embrace and become the whiteness that these types lecture against, then whatever their race, religion or ethnicity, they should never be invited in to become part of us.

    • I saw that article. Thought she was an idiot and racist. I know there is a few in Labor and the Greens here that think like this. All it does is divide.

    • Here is a far more important issue that keeps bugging me.
      How come almost all adherents of the Loony Left are so ugly and try to look as repulsive as possible?

      • Stewie GriffinMEMBER

        You are a disgusting bigot if you don’t find Calvin Klein’s new cover ‘girl’ attractive.

        https://twitter.com/WokeCapital/status/1276618660346503169

        It is a deliberate attack on aesthetics – part of the “civilization is only as great as its lowest common denominator” problem. The process in demoralising and tranforming a society is to attack and break down its cultural norms and appreciation for aesthetic things like beauty, so that society can be repointed in other directions. Some forms of ubiquitous modern brutal architecture would be another example.

        White women are no longer beautiful, fat, ugly, black trans women are what is beautiful – feel a little confused or demoralised yet? A bit more separated from your identity? The point isn’t inclusion, it is to bring you down and make everyone ugly and equal.

        • Now if only this fine specimen was also a member of the Religion of Peace she would tick all the boxes to become immediately eligible for office at any political party that feigns to be in need of some cultural enrichment.
          I never feel demoralised! These ugly smelly fvkers are not going to bring me down ever! Muhuhahaha
          (channeling my inner Reus)

          • Stewie GriffinMEMBER

            Now is probably your best ever opportunity to work for Calvin Klein. You should think of applying.

          • The Traveling Wilbur

            Points so far: JunkInTheTrunkFan 1 Stewie 0.

            But it’s not about glamour Mig. Or changing societal tastes. It’s about being “told” what most people (the majority) are familiar and happy with is ‘less’ just because something is forever unatainable by a minority (don’t care which, could be Jywish amputees with epilepsy for all I care).

            It’s some peoples’ idea of what equitable treatment really means. That’s their learned mindset. The rest questing for these changes are just fkcn angry about their lives.

            Fortunately, due to inate human foibles, Facebook and the Kyms, Kanyays and all the rest, this will be a phase the kids these muppets have reject utterly. And humanity will resume it’s quest for betterness (judged by whatever standards apply at the time).

            Personally I’m just glad the monobrow’s emergence was brief, relatively limited in participants and caused very few fatalities.

            Edited a bit to get past the spaaam filllter.

          • migtronixMEMBER

            See how fvcking dumb you sound now Stu? I just told you don’t watch TV and you try to ugly shame me to bolster your anti demoralising argument ffs.

            DiscoStu was a stand-up guy. I’m worried Gavin is travelling in the same direction.

          • Stewie GriffinMEMBER

            Fair comments Wilbur – this issue to me is that it has gone beyond mere equality of opportunity and now seeking equality of outcome, imho by bringing the standard of beauty down to the lowest common denominator. Fair enough if you actually fancy such things, there have always been places to cater for such fetishes (including the mono-brow). The issue is constantly being told that “this” is beautiful, or work suck as Tracey Emin’s art work is meaningful or in away way comparable to a classical artist. It is not.

            Mig, I don’t watch TV either, so I don’t know why you thought I was referring to it or have become fixated on it. Your N and F in INFJ is running amok and sending you down a whole heap of rabbit holes of intuitively misplaced feelings as to my views.

            Ugly shaming is a fair play when someone calls you ‘sick’ or suggests you form an unnatural Union with Tony Abbott simply because I’ve professed to some understanding of the importance culture in making a society function, and happen to believe that like it or not the bed rock of a societies culture is to be found in the main religion responsible for infusing its values into it…. which I seem to sense has become your biggest problem with my views.

          • migtronixMEMBER

            I’m deliberately being the arsehole you refuse to acknowledge you are. On behalf of many on the page – you’re welcome.

          • migtronixMEMBER

            Garbage like ‘bed rock’ to describe your culture war fetish is pure Bannon, neocon, christtard “the rock of Peter” pablum.

            I’m not an idiot and I see your brietbart ziocrud for what it is.

          • Stewie GriffinMEMBER

            I’m deliberately being the arsehole you refuse to acknowledge you are. On behalf of many on the page – you’re welcome.

            No – I believe being an arsehole comes naturally to you.

            As you would know, one of the advantages of being an arsehole is not giving a sh!t about what people think – that is what makes us aresholes.

            If you think I post here my honest views simply to win friends or be popular, then I could sprout any number of more socially acceptable viewpoints – but to what end? To be popular?

            My views are valid and by remaining silent I would be ceding that much more of rational debate, though grounded in unpopular facts, to irrational, subjective populist feelings, that require just as much belief in personal FAITH as any Happy Clapper praising the great sky fairy.

            I’ve always cared to explain my reasons or positions to anyone who challenges them, and will do so as politely as the respect I’m afforded. With only one or two exceptions, I generally only respond to other commentators in agreement to their own comment or with what I consider might honestly add to their own. If I want to post anything that I might guess or suspect being viewed as controversial I do so by starting my own comment, rather than grafting it onto someone else’s.

            Now shall we examine you’re contributions?

            Aggressively commenting on nearly every post I make – check
            Responding mainly as ad hominems – check
            Mainly baiting two line responses – check

            If you have a problem with what I post then either make a fist of it and properly engage, debate and change my mind, or do what so many people already correctly do – completely ignore me. Don’t dance around flinging cheap school yard shots, taunting me to fight, like some 14 yr old wanting to prove he’s tough to all his buddies.

          • I am guilty too of reverting to ridicule and abuse sometimes.
            Maybe this is not the ideal medium to have a meaningful convo. Opinions it seems, even if worded clearly, are easily taken out of context and then depending on respondent I find I quickly lose my patience trying to explain myself and then ridicule is a too easy way out. That is when you lose the argument I know, but in some cases I just can’t help myself.

        • Guilty as charged. I’m a thin lips appreciator.

          Princess Kate , that’s what I’m talking about.

          Don’t understand the whole punched in the face by an NRL player look. And all these young things trying to look kardiashan like…. Yuk

    • LOL at the University reponse to calls to have her removed for her racist views:

      The University defends the right of its academics to express their own lawful opinions which others might find controversial and deplores in the strongest terms abuse and personal attacks. These attacks are totally unacceptable and must cease.

      Yeah, unless you are a white male trying to express your lawful opinion, then you are sh#t out of luck.

      • Stewie GriffinMEMBER

        How would you characterize her then? Did I use the term ALL immigrants?

        Nah – I was just referring to those who refuse to integrate, assimilate, sucking up all our society has to offer them, while they devote all their energies to attacking the society and cultural values of the people who built it.

          • Stewie GriffinMEMBER

            The difference is I’m part of the society she is trying to replace – standing up for your own is different to cutting down someone elses. If she finds our cultural values and ‘whiteness’ so offensive, which she does, rather than change our society and bend it towards her perception of how a society could maximise her minority inclusion at the expense of the majority, she could simply move to a part of the world already filled with her backward, spiteful, hateful anti-whiteness views. There are plenty of those.

          • migtronixMEMBER

            She doesn’t do anything. She’s not Rupert Murdoch LOL!

            You should marry Tony Abbott and restart the western civilization academic rebirth. You’ll probably have to identify as a woman tho, he’s traditional that way 😂

      • ‘Too big to prosecute’ might explain why.
        If you had an ounce of intellectual curiosity you would be able to find numerous examples of similar conduct in many countries that always end up swept under the carpet and victims smeared, prosecuted or committed to a mental asylum.
        But you’d rather be lazy and refer to Wikipedia as the be all end all of fact finding, pathetic really.
        And because you are pathetic, and an exponent of the Loony/Radical Left, and no doubt ugly and repulsive, I am going to ridicule you a little bit.
        Smith: “Who likes me?”
        https://www.youtube.com/watch?v=P6XIIjixDCU

        • Interested PartyMEMBER

          Systemic…..government condoned.
          “A man with a criminal record for child abuse, referred in the report as Fritz H., was able to rape and abuse at least nine children that were given to him as foster children under the government-backed scheme. Despite the extreme warning signs, Berlin youth welfare officers consistently chose him as a foster father to children, who were often six or seven years old.”

          https://tinyurl.com/y73ttw6m
          original link gets spambotted

          • Your example is also a reoccurring theme IP, once you start researching this subject.
            I am merely putting the connection between child abuse and powerful people out there to indicate that a big chunk of the operating system is broken beyond repair and utterly vile and corrupted, this is dark evil stuff. And until people are willing to address these fundamental issues it is hardly any use to bicker about whether the blue team or the red team is better.
            Idem our financial system that is engineered primarily to enslave us and not to build a productive society. This needs addressing before anything else.

        • Interested PartyMEMBER

          “until people are willing to address these fundamental issues …”
          I spent a few years researching this subject, so I know what you are saying. Yes…evil exists. yes….evil holds the seats of power in governments and monarchies…even the vatican.
          Until people are willing to address these issues, you say…….well…..as much of this behaviour can be and is tied back to religious beliefs, many people find it hard to believe that it actually exists at the sickest levels……they totally dispute it.
          Conspiracy theory nutter…..that’s the name.
          No explanation or conversation on adrenochrome, satanic sacrifices, or associated stuff.
          Society has a long long way to go……they just cannot cope with the notion that it exists…so they attack the messenger.This board has several of these people who comment on a daily basis.

          • My journey started just after the GFC. For about two years I immersed myself in taking in as much information as I could, trying to find out how the world works and how we are being controlled. I was very lucky to have the time to do it though, as it takes some time before you can start connecting all the dots. And in my case, not having a religious background, it took a while before I could mentally accept that evil is a real force actively sought out, embraced and used by some.
            Most people are purposely being kept too busy with day to day survival, so you can’t really blame them for being ignorant. But I have also noticed, as you say, that most people don’t want to hear bad news, they much rather ignore it. Even when you talk about basic stuff and try to explain that the monetary system is on its last legs, and how the unwinding is going to be devastating, is considered negative or pessimistic. To me it is never about being a pessimist, but about being a realist. Because only by being realistic you can start preparing as best as you can for what is inevitably on the way.
            In the last ten years I have interacted with many thousands of different people. Every now and then you meet a kindred spirit, which is very nice.

          • Interested PartyMEMBER

            From our brief chat, I would regard you as kindred. I think I know the path you have walked re: research and investigation. That is a dark painful path…one that I have taken. Hopefully, society will come to understand, acknowledge, and reconcile just how ingrained and systemic this evil truly is. It’s not anything about religion per se, as in real on not real, but the simple fact that those in power “do believe” in this and willingly act on it. That is the crux of the matter; getting out of the way of one’s own opinions and see truth for what it is.
            Thanks Sacha. Keep well.

  9. DEMOGRAPHIA WORLD URBAN AREAS, 2020: TOKYO LEAD DIMINISHING … WENDELL COX … NEW GEOGRAPHY

    https://www.newgeography.com/content/006693-demographia-world-urban-areas-2020-tokyo-lead-diminishing

    For the first time in more than six decades the world’s second ranked built-up urban area has reached within 10% of leader Tokyo. The 2020 edition of Demographia World Urban Areas reports that Jakarta has reached a population of 34.5 million, behind Tokyo-Yokohama’s 38.0 million (Figure 1). The report can be downloaded here (Note 1). Yet Tokyo’s growth has slowed, a reflection of Japan’s overall demographic implosion, although it is still adding people while the country is losing population.

    Background … read more via hyperlink above …
    .
    .
    Demographia World Urban Areas – 16th Annual Edition 2020

    http://demographia.com/db-worldua.pdf

      • If I recall correctly Sam Dastyari is one of those Politicians quoted as saying that you should never suggest a Royal Commission without first knowing the outcome. This makes me deeply suspicious of the bait that is being dangled in front of me. It’s not like any revelation by this commission could lessen his standing or further tarnish his reputation, so what is it that Sam want’s them to find?
        I wouldn’t rule out a good old fashioned False Flag operation, a sort of political IED that blows up in the face of anyone that investigates it.

  10. So I went back to work this week. I’m not sure if it was because of the outbreak here in Vic but our aquatic and gym centre was quite under patronised as far as I could tell from the pool deck (though I did see a lot of young people going into the gym sessions). Local councils must be burning through the dough now these centres are open and are costing them more than when they were on care and maintenance. We could have 20 ppl in our 50m pool (divided into two 25m pools) so everyone theoretically had a lane to themselves, and 20 ppl in our hydroptherapy area. I never saw the lap pool go above 15 ppl and the hydro pool above 12. SO if you like an almost deserted pool to swim in, now appears to be the time to go. By day 5 I am happy to report that I seem to have regained my standing and walking and wearing a heavy bum bag for 4 hours stamina, though it was a painful process, and by the 2nd shift I was fully back into the swing of being able to focus on the pool appropriately and concentrate for the required lengths of time, AND keep track of everyone in the pool. I managed to keep up with my 30 mins of cardio each day which I was very happy with.
    On the outer burbs of Melb it is obvious that traffic levels are way down on normal times, even in peak hr.
    Interestingly on Thu and Fri I saw a total of 6 cars (that I noticed, there may have been more) with one headlight malfunctioning. Does anyone know if the Vic gov has said only one headlight is now required for a car to be roadworthy? Or is there a new case of collective not paying attention to this, or are car repairers closed? Or is everyone too skint to fix it?

    • I heard many years ago that if you want to find out if there is a recession, a good indicator is to watch for high-end cars with worn out tyres. Having experienced a few recessions in Europe I never got to checking if this statement is true or not. I might finally start looking around and find out.
      Keep well Popcod.

  11. Interested PartyMEMBER

    ♦Without COVID-19 panic Democrats cannot easily achieve ‘mail-in’ voting; which they desperately need in key battleground states in order to control the outcome.

    ♦Without COVID-19 panic Democrats cannot shut down rallies and political campaigning efforts of President Trump; which they desperate need to do in key battleground states.

    ♦Without COVID-19 panic Democrats cannot block the campaign contrast between an energetic President Trump and a physically tenuous, mentally compromised, challenger.

    ♦Without COVID-19 panic Democrats do not have an excuse for cancelling the DNC convention in Milwaukee; thereby protecting candidate gibberish from himself.

    ♦Without COVID-19 panic Democrats do not have a mechanism to keep voters isolated from each-other; limiting communication and national debate adverse to their interests. COVID-19 panic pushes the national conversation into the digital space where Big Tech controls every element of the conversation.

    https://theconservativetreehouse.com/2020/06/26/covid-19-hype-is-needed-in-order-to-justify-virtual-debates-between-biden-and-trump-among-other-motives/

    At no point is covid disputed…….it’s just become politicised and weaponised.

    • When America was burning a few weeks ago, the Commander in Chief went MIA tweeting little incendiary comments like a naughty schoolboy from the White House bunker.
      He is gone. COVID or no COVID.
      Don’t relish the Democrats or Biden but when you have show you are not only a dishonest and a bit of a demagogue but completely devoid of the ability to lead it is time to vacate the field.

      • Interested PartyMEMBER

        I think it has been cathartic for the USA ( and the world ) to see just how far the far left are willing to take the country if they are to regain control of the Executive. I don’t hold it against Trump for letting hard reality slap the public hard…..they need it. If the US votes the dems in…legally….then they deserve everything that is to come. It will be the end of the US system. This Nov is not just another election.

        Do you hold any state Governors liable for the riots….or is it all on Trump?. There is an actual chain of command, and control…. the states have the first line of responsibility to provide safety for the public.

    • To think if Trump & his admin had just managed the COVID situation more efficiently (even Aus or even Europe level of competency which is not a particularly high standard) Democrats wouldn’t have had all these things. Complete own goal to a regular observer but he is of course is playing some 5D level Chess here.

    • FUDINTHENUDMEMBER

      Lol. Trump is cooked. On the ONE THING he was supposed to be good at – fighting the CCP, he’s failed.

      He’s been incessantly bleating about how the Chinese have created this virus and unleashed it on the world and the US. And even provide this is true.. In the face of the US greatest enemy unleashing a weapon upon them, all the fat geriatric managed to do was whinge and whinge about how it was the Chinese fault, instead of actually doing something to protect your nation and it’s people from something, weaponized or not, that would weaken them strategically. Yes you muppet, your enemys are trying to weaken you, what a giant reveal.

      • Interested PartyMEMBER

        On the ONE THING he was supposed to be good at – fighting the CCP, he’s failed.

        Emotive arm waving……..
        Facts matter…maybe not in your world though….

        ” The Justice Department (DOJ) campaign to counter the Chinese Communist Party’s multifaceted onslaught on U.S. interests has ramped up to an unprecedented level, according to government officials and documents.”

        This is Trumps DOJ under AG Barr.

        “As of February, the FBI was conducting roughly 1,000 investigations into China’s attempted theft of trade secrets, just one of many fronts in the communist regime’s wide-ranging campaign against the United States.”

        This is Trumps FBI, under Dir Wray.

        “Every FBI field office was working on trade-secret theft cases involving China, with potential victims spanning almost every sector and industry, according to FBI Director Christopher Wray.With the DOJ and the FBI under relentless partisan fire over politically charged domestic investigations dating back to the 2016 presidential election, the initiative to counteract the offensive by the Chinese Communist Party (CCP) has ramped up to a historic scale while going largely unnoticed.”

        So that last line gives you an out……”going largely unnoticed”….it’s not like the media to acknowledge something pro-US that could be attributed to Trump…so you get a pass on being kept in the dark on this.

        “According to a review of DOJ press releases, the department has brought more indictments related to Chinese infiltration since 2019 than during the entire eight years of the Obama administration.”
        The Obama administration….where Biden was VP….where he lined up his boy for 1.5 Billion plus strategic industry sales…..

        Yeah, I would agree with your comment that trump has folded on chyna…but there are a few sticky facts one would have to ignore..

        https://www.theepochtimes.com/doj-battle-against-chinese-communist-infiltration-reaches-historic-scale_3260176.html

  12. migtronixMEMBER

    I’m beginning to think the religious right invented identity politics – everyone single one of them fallaciously self identify as Christian!!

    • buttzilla 2.5D chess

      no they are christians. and that’s the problem. they practice a weird middle eastern religion. christianity. then preach about how that is somehow the basis for western civilisation.

      • migtronixMEMBER

        Jesus was a Hebraic Mesianic rebel, very popular in that part of the world in those days. Many sects of the Abrahamic and Jacobite lineage were spawned. Christianity was one.

      • Most people claiming to be Christians are cultural Christians, and not Biblical believers in Jesus as the Son of God, who completely paid for their brokenness on the cross, thus repairing the legal and existential rift between them and their Creator…there is a major difference.

        Also, some are actually Biblical believers, but have beliefs dissonant with the actual Bible (cherry picked, etc), and end up acting as social engineers, according to the principles of the broken world, and not according to their new identity and power in Jesus.

        • buttzilla 2.5D chess

          both worship mono-demon yahweh so wots the diff? athiests are exactly the same… without theism?? pfff! without monogod and spirituality is same as monogod / roman thought. Hinduism is closet to euro-centric paganism…e.g. baal, beltane, luna personas in the celtic tradition is closer to european ingenious religions. Even the Dreamtime is closer.

  13. 1 in 3 commercial airline pilots in Pakistan have fake licences. They paid other people to sit their exams etc.

    This is one of many reasons why we need to be very careful about opening our borders. There are whole cultures out there where breaking the rules for personal advantage is seen as admirable.

    Without armed guards and razor wire there’s no way to enforce effective quarantine measures.

    • DominicMEMBER

      The thing that annoys me is that, in order to become a doctor in this country you need to achieve academic results that are quite extreme by most measures, then you do a 3yr undergrad degree followed by a 4yr med degree and then you do 2yrs of prac in a hospital. Many of the foreign doctors that come here to work haven’t been held to anywhere near the same standards.

      • BigDuke6MEMBER

        I did my fellowship in the uk where 1 in 3 doctors are foreigners ( although strictly I was too ) but I would say I spent about 20% of my time cleaning up the mess and avoiding disasters caused by the foreign johnnies. Because its money that gets you trained in the third world and not talent some are very unsuitable

      • DominicMEMBER

        Whenever someone is driving at 40 in a 60 zone, they’re either very elderly or (newly arrived) Asian. Whenever someone is driving atrociously (no acknowledgement of any rules) they’re invariably from the sub-continent. Whenever someone is driving aggressively (including tail-gating) they are an early 20-something female or a tradie.

        I got overtaken in a 60-zone the other day (relatively quiet suburban street) while I was doing 60, by a young lady on her P’s. Disappeared up the road like all was the most natural thing in the world.

  14. boomengineeringMEMBER

    Hats off to haroldus for urban farming. Every year the sulfur crested cockatoo’s strip the big mandarin tree bare without bothering to eat any. Don’t know where they went this year but the terrorist fruit flies are playing havoc in their place. Lucky a lot was given away but the neighbor at the factory is going to be disappointed when his bag comes with seconds. Could have stored them in a better place than outside in the sun but only need a couple of rotten ones to stink the room out. Until they invent metal fruit will leave the gardening crown to harold and his MB cronies.

  15. migtronixMEMBER

    Goddamn it Stewie/DiscoStu I know that you know perfectly well that the real control of our society is via money which means via debt which means via banks which, in this country and UK, means via house prices.

    And I know you know those same people have been crying about demographics collapse and I know you know that’s because of worries about the debt economy which, again, I know you know comes down to fvcking house prices!!

    So stop focusing on the symptom that’s funded by the disease.

    • Stewie GriffinMEMBER

      I know exactly where the problem stems from, but I’ve also come to believe that there is another dimension to it – culture maters.

      It is the mechanism by which they transform society and are able to implement their debt based economic policies as a means of wealth extraction – by changing our cultural perception over things like taxes, the soundness of money and most of all debt.

      But ‘elites’ can’t just roll out those changes, they have to be accompanied by other policies to help bring about the right circumstances for a society to accept them. Breaking down a societies existing identity and cultural touchstones, achieved through mass migration and policies of Multiculturalism, are foundational to weakening an existing societies ability to achieve consensus in solving the economic problem.

      I watched a fascinating documentary from David Attenborough once on Wood Ants – do you know that the Wood Ant queen sneaks into the Field Ant nest and gradually takes on the nests ‘scent’.

      Then after a while she eventually tricks one of the worker ants into feeding her, which provides her with the complete pheromones of the nest, effectively dooming the host Ant society. Workers then start feeding her and caring for her young, which when they hatch make sure to kill the existing Field ant nest Queen, if their queen hasn’t done so.

      Pretty soon afterwoods, that field ant society is transformed into a wood ant society, and all the workers are gradually replaced and the field ant nest becomes a wood ant nest.

      Ideas and Culture, are humanities scent and pheromones. Ideas and culture and the meme’s it produces is how humans transfer information, guide and shape behavior, and detect external threats and their potential to destabilize and spread dysfunction within our nest society.

      Belief in nothing, never created or defended anything. Nihilism is EXACTLY what the elites want. The only defense against an insidious, invading culture, is to actively reinforce your own – and fight back against those who would see it replaced or transformed.

        • The Traveling Wilbur

          Just 50 years ago Tariffs were normal, Free Trade was the name of a local give away paper and seeing ‘made in China’ on a product was a sad indictment of it.

          Now leaders of unions think it’s good/fair/right/moral to bring in people to compete against their own members and generally lower wages in Australia (due to the volume thereof).

          That mindset change didn’t happen by itself. And it’s here in spades.

          • migtronixMEMBER

            See how the cultural opportunism is subordinate to environmental opportunism? The wood ants are just using a better strategy given the economic environment – or something like that

          • The Traveling Wilbur

            At scale cultural opportunism is required for economic opportunism to flourish.

            Just look at the Uber invasion of the sovereign rights of States and Territories. Couldn’t have happened 30 years ago.

            Sometimes cultural change is the precursor… influence on culture is therefore not to be discounted.

          • migtronixMEMBER

            What, cabs with a GPS tracker required same sex marriage not a smartphone? OK…

        • The Traveling Wilbur

          I can’t speak to whether every Uber driver is in half of a [email protected] marriage – I use Didi myself. But I can say that 30 years ago the public would not have welcomed Uber – a foreign company invading Australia and breaking its laws – with open arms and significant elements of the public would have welcomed the drivers and especially their cars with batons, rocks and sticks.

          Things were different then is the point.
          Governments still even liked to try and pretend they were in charge too.

          Now how did we get from there to here I wonder?

      • Interested PartyMEMBER

        What you describe is exactly what the US is dealing with right now….ie….the end game of that process….or the final battle to retain America as America.
        It has been a slow creep of infiltration, both here, and in the US. Ignore it…or worse still, cheer it on….at your/our peril.

        • Stewie GriffinMEMBER

          It’s been taking place in all of the West, not just the US – the UK, France, much of Western Europe, Sweden, etc are all fundamentally dealing with the same issues. A sustained attack on their respective ‘cultures’ by the veiled culture of modernity – the atomized, nihilistic culture of a consumer existence – our citizens have become the product.

          It has been done by the time honored technique of mass migration and destroying existing cultural and social barriers and opening the exposed society and people to unfettered business corporatism and exploitation. In my view using a variety of techniques culturally mastered by those who inherited the knowledge of the Assyrian/Babylonian empire:

          But Sennacherib, king of Assyria, had already come, and through his policy of forced population transfer he had scrambled all the nations of the lands, as it is stated in reference to Sennacherib: “And I have removed the bounds of the peoples, and have robbed their treasures” This indicates that the children of Simeon were also exiled.

          (Isaiah 10:13).

          There is nothing new in the world.

        • TailorTrashMEMBER

          Was in Lindfield “village “ this avo ….the apartments are slowing taking over …to suit the new population ….the old car park where you could park any time day or night is now all boarded up and being converted into a “village green “ ……..then the said village green will be surrounded by more apartments to suit the new population….
          …bye bye Lindfield as it joins many once beautiful Australian suburbs in disappearing into a concrete megash1thole ……
          Jobs n growth …jobs n growth …jobs n growth ..

          • And none of the units will be full because they were almost entirely built for Chinese immigrants to have an address in the Killara High catchment area.

          • TailorTrashMEMBER

            @jason …
            indeed ….and one notices how the new arrivals push and shove their way in to get the benefits of the host society that welcomed them ..but in some ways then want to support and transform it to the repressive sh1thole they came from

            Good to see that some in Australia are at last awakening to this …..go ASIO ……don’t bother with FIRB …that’s a fcuking joke …,..

  16. call me Artie (the member previously known as Arthur)MEMBER

    When I am not logged in and I read Weekend Links, every comment says “Login to Reply”. So how do non-members reply (since they do it all the time)? What secret do they have? Are they setting up two-week trials just to make comments? But some non-members seem to be around for years making comments. How? Genuine question

      • call me Artie (the member previously known as Arthur)MEMBER

        Thanks Boom. I’m OK with that one. I was more curious about the non-members commenting. It seems from Wilbs below that it requires setting up a two-week trial repeatedly for non-subscribers to continue commenting?
        Not complaining, just curious

    • The Traveling Wilbur

      Article access to non-members is limited.
      Non-members cannot comment on articles they can’t see the full version of.
      A non-member account only ever gets 1 period of 2-weeks full access to articles – if the person wants two more free weeks, another account needs to be created.

    • Sexy SydneyPlumber

      Sounds like some kind of Conspiracy to me.
      Dave, Leith, Gunna and that Beck bloke are definitely up to Something with all these suspect non member accounts.

      Maybe some kind of Branch/Comments stacking operation?

  17. SnappedUpSavvyMEMBER

    The more I read about this Lebanese immigrant moselmane the more it looks like his partner in crime immigrant John Zhang wrote the wh1 te scum bit and used moselmanes name cos he must be hopelessly compromised, probably prostitute photos in chyna, both of these gifts to us have dodgy positions at the, of all fckn names, east China normal university LOL

  18. The Traveling Wilbur

    The Simpsons will no longer cast whites to draw characters of colour.

    WTF? Who the heck is going to draw Bart and Homer? They’re yellow.

    Edit: misread the ABC ticker. Said “voice” not “draw”.
    Not that that’s any different. It’s a cartoon.
    And is the current artist going to stop doing Bart’s voice because he’s male? She’s a she if you didn’t know.

  19. This was posted during the week. But only got time to watch it in full today.
    https://youtu.be/IR8BhiiAWTo

    It is all about manufacturing in Australia. Even in the beginning there was naysayers and detractors. Seems the more things change, the more they stay the same. But real positive change comes about via real leadership. Something we haven’t seen in years sadly.

    • Thanks Gavin. Them were the days. In the early 70’s I was a PA tech for AWA. Used to service the GMH factory in Port Melb. That place was like a small town. AWA was based in Miles St Mulgrave and shared the premises with BWD an electronic test equipment manufacturer. They were up there with the best of them – made really good gear – just like the cars. Fairchild had a fab facility in Bayswater – you could go there and buy locally made transistors. But when Whitlam slashed tariffs without warning the electronics industry was decimated overnight. No more AWA or BWD or Fairchild. I wonder if we have a company in this country now that could manufacture a simple transistor.

    • adelaide_economistMEMBER

      Not sure what’s on them inbound but it’s definitely taking a few back.

      https://www.southasia.com.au/2020/06/19/three-times-dearer-nepal-repatriation-flights-raise-eyebrows/

      “According to the ambassador, over 1300 people had initially expressed their interest in returning home through the chartered flights. However, almost half of them failed to reconfirm their interest, most likely due to the exorbitant cost. The ambassador said there could be any number of factors responsible for people opting not to board the repatriation flights. In addition to the flight cost, comparatively safer environment in Australia could be another reason why some people did not show interest in the immediate repatriation.”

        • adelaide_economistMEMBER

          The best bit is the screenshot of the presumably Nepalese student twitter conversation. It seems their ‘logic’ is that they can survive in Australia (with a hefty dose of charity) for another few months for the cost of repatriation and a quarantine period. Being the cream of the crop, intellectually speaking, I’m sure they’ve worked out what their plan B is if everything isn’t ‘back to normal’ by then when they have no money instead of a little.

  20. remember when all these g @ y measures were just supposed to be about “flattening the curve” now we’ve shifted the goalposts without even saying and are trying to completely eliminate corona

  21. File under “Its just the flu” by “Doctor”X

    “..While the nation held its collective breath as inconceivable and difficult ­political decisions were made, Tannous was at first breathless and then unconscious. At 49, he was one of the earliest, most serious, and most ­unexpectedly critical ­victims of a virus that would choke the globe. Nothing in his background ­suggested he might so nearly succumb. A non-smoker with no under­lying medical issues, he was healthy and he exercised regularly. Yet here he was in late March in an induced coma, isolated from the bulk of humanity for their sake as much as his, a tube down his throat about the best chance he had of reaching his 50th birthday the following month…”

    “..With great stealth, the virus was ravaging Tannous’s body. He had severe pneumonia. He was breathless. His temperature had soared to 39.3 degrees. His liver function was slowing. And the amount of oxygen in his blood – normally at a range of 75 to 100mm of mercury – was at a ­dangerously low 49. Throughout the day groups of medical staff gathered to discuss him. Unable to have visitors, Tannous kept his extended family (he is the eldest of five children) informed from his bed. “I was WhatsApping them saying, ‘I’m in ICU, I’m on oxygen.’ I said I would be OK’. ”..”

    Articled locked …apologies…Rupert needs to eat too!

    https://www.theaustralian.com.au/weekend-australian-magazine/joe-tannous-survived-coronavirus-he-has-a-warning-for-us-all/news-story/49ae6eebf78fc40b2f1cedc39a2f773e

    • migtronixMEMBER

      Oh yes I just love how science turns to journo enhanced anecdata for you guys.

      WhatsApp, so touching. Couldn’t just be messaging them.

      • call me Artie (the member previously known as Arthur)MEMBER

        “You guys”? Bit of a sweeping generalisation there Mig. Lumping all of the MB commenters?

          • DoctorX has been spamming us daily with his “cost of doing business” stuff for months……though the spiel has been modified recently with a concession that perhaps the oldies should keep out the way as the COVID-19 “flu” works it’s magic.

            Apparently basic rules of animal husbandry just don’t apply to the amazing apes.

      • bzunicaMEMBER

        That’s right. The tactic to scare the masses under 65 is not to use data, because it is just not scary enough. So what do we do? Wheel out one of those unfortunates in the right age group who seems to be healthy etc. but almost dies from covid. Personal stories are powerful because everyone puts themselves in their shoes.

        • Data?

          You mean like climate data?

          Funny how so many those who don’t believe climate data (Oz readers) suddenly love just a flu data.

          But still they don’t seem keen to actually take a COVID-19 infection for the team.

          The herd has to start somewhere.

          • Don’t assume, it makes you lose your ability to argue the point. Climate data is strong and I want us to take it seriously. The data on covid suggests that, particularly for those under 50, not a large percentage die (less than 0.2%) so media needs another way to scare people to get eyeballs so they produce these anecdotal stories of people in the right age group. The data clearly suggests now that opening the schools is a good idea but every case of a school kid is highlighted and people go on social media to say how bad the idea is. Data is the only way to know what’s happening with the media we’ve got these days.

          • migtronixMEMBER

            “you mean like climate data”

            Negative 3 this morning in Melbourne so yeah….

  22. bzunicaMEMBER

    Here is our media at its best. This story about trans women of colour made it to the 7pm ABC news last night. https://www.abc.net.au/news/2020-06-26/study-finds-high-sexual-assault-rates-for-trans-women-of-colour/12395226
    I dug a little deeper and read the paper that the “research” is based on. It is based on an analysis of three worldwide reddit threads and pulling out a handful of quotes from anonymous users from who knows where in the world.
    https://www.researchgate.net/profile/Jane_Ussher/publication/334329027_Sexual_violence_and_safety_the_narratives_of_transwomen_in_online_forums/links/5d6f57c045851542789f8cad/Sexual-violence-and-safety-the-narratives-of-transwomen-in-online-forums.pdf
    My goodness, I cop at least as much as this for being Christian but there will be no one on the evening news highlighting that.

    • no doubt most who are assaulted are sex workers, which we already know experience high rates of assault.

      This is the ‘research’ that international students are subsidising at the expense of teaching standards for locals.

      Time to separate teaching from ‘research’.

  23. Interested PartyMEMBER

    Do no evil could be in a bit of strife……

    https://theconservativetreehouse.com/2020/06/26/report-doj-preparing-anti-trust-lawsuit-against-google-aligns-with-ag-barr-statement-yesterday/

    “The DOJ action has not yet happened, but there are signals it is close. There have been visible signals, subtle but visible, the DOJ was/is about to move on a massive (the biggest in history) antitrust lawsuit against Google and all affiliates.”

    • Yeah desperation everywhere lol. I will say houses are still selling near me though and for more than I paid in October for what I deem as a superior build/home, but my house is unique and will apply to a certain buyer (like me) but not everyone.

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