Links 13 July 2020

Global Macro / Markets / Investing:





Leith van Onselen


  1. Pretty devastating that MMT was first utilised to bail out the banks in 2009 and now to buy corporate debt. Hardly surprising in the corporate controlled US but gee that 8T of Fed balance sheet has done f*** all for the average US citizen. They may be rioting for BLM but if they actually had some idea what was really happening they’d be storming Wall street.
    Oh, here’s some Kim Kardashian and Kanye West to keep you distracted.

    • ErmingtonPlumbingMEMBER

      “if they actually had some idea what was really happening they’d be storming Wall street.“

      Sure,…but who’s gunna tell em.

      • elasticMEMBER

        And if someone told them, would they be interested? Maybe if the MSM did their job and pursued it and relentlessly exposed it but yeah.. nah. I think the average US citizen must be suffering PTSD from 3 years of Trump and just trying to scrape enough together to feed themselves. The perfect moment to loot the coffers.
        Did the same thing back in 2009.

    • fitzroyMEMBER

      The same thing happens here. Most of the newly printed RBA notes went to the bondholders not the taxpayers.

      The savers and workers get fleeced by the bankers and investors yet again by the RBA policy. I despise them.

      Debasement of the currency steals from the populace.

    • Ulrike Meinhof

      I have lost count of the number of times in just the last week that I have read on MB about ways to increase the Value of my Labour.
      It’s not my labour that has value, it’s my life that has value
      When my life has value I demand to be properly compensated for my labour
      When my life has value I extract value for my time
      When my life has value, those who also value life must respect me and reward my labour
      Because my life has value, my labour has value.
      ” Liberté, égalité, fraternité, ou la mort!”

  2. haroldusMEMBER

    Windies 4 down (5 down really) with 57 to get in the last session of a test match in England.

    At tea, soon to resume.

    • Apparently the opener with the broken toe can bat if needed. Would certainly be some sort of spectacle if he comes in 9 down with a couple of runs needed.

      47 needed now.

  3. In case you missed this … from 4 July …

    239 Experts With One Big Claim: The Coronavirus Is Airborne … Apoorva Mandavilli … The New York Times

    The W.H.O. has resisted mounting evidence that viral particles floating indoors are infectious, some scientists say. The agency maintains the research is still inconclusive…. Read more via hyperlink above …


    Heather du Plessis-Allan: Todd Muller’s long, painful race … VIDEO … New Zealand Herald

    PATTRICK SMELLIE: Only two things can rescue Muller and the National Party now … BusinessDesk

  5. Recessions punish our youth and the coronavirus downturn is no different

    Wrong, It’s not the coronavirus that is punishing our youth – it’s our reaction to coronavirus

    if our reaction was different we could have seen rise in employment among younger Australians because they could have been used to help elderly and sick who need to isolate (delivery, help, …)

    if we were smart by now we could have had an army of young people who gained immunity and who would be able to work in aged care facilities without danger of spreading the disease.

  6. migtronixMEMBER


    “At least the women of Western Sydney now know to avoid @ErmoPlumber when they need a plumber. He needs to give up gaslighting and stick to gas fitting.”

    • migtronixMEMBER

      How did I know stewie the other right wing identity politicstard would turn up to help you gaslight more women…

    • What kind of filter do we have in this forum that punishes harmless vulgarity and allows you to simply abuse another poster without addressing any point?

    • I had no fkn idea what that was about. Went down the rabbit hole. That’s some next level conspiracy theory sh!t. Too obvious to be real of course…..unless that’s what they want me to think *dons tinfoil hat.*

      • Interested PartyMEMBER

        I think she’s stumbled onto the Wayfair thread, and is having trouble reconciling past thoughts on her version of reality….and who told her what her reality should look like.
        Thing to note here is she is not alone….the youth might be turning on their trainers

        • Yeah, had no idea what this ‘Wayfair’ thing was until I watched your link.

          Seems that if the ‘wokesters’ are falling for this, it’s not so much a matter of them turning on their trainers as it is them getting beaten by the other team at their own game