Sunday Supplement: 5 July 2020

‘Valley of Tharwa, Murrumbidgee’, J.R. Jackson, 1925, National Gallery of Victoria

 

Macro & Markets

 Asia

Americas

Europe

Terra Specufestorus

…and furthermore…

Video

Mark Blythe has co-written a book titled ‘Angrynomics’ released a week or so ago.  Here he is talking about it. Worth a listen.

 

 

Latest posts by Gunnamatta (see all)

Comments

  1. Goldstandard1MEMBER

    3rd and bronze baby.
    I’d like to thank my Macro family, for whom if it weren’t for them, I would not be here. This is for you.

  2. DominicMEMBER

    The Guardian claims that $10bn of precious metals is dumped every year creating environmental problems blah blah. And then goes on to name the problematic as cadmium, mercury and lead (none of which is precious). Another BS diatribe. Not enough recycling blah blah. Yep, gold just being tossed on the scrap heap, no one cares blah blah, wheeee ….

    • Dom – are you sure they said precious metals and not heavy metals. All those you listed can be classed as heavy metals.

    • drsmithyMEMBER

      First paragraph:

      At least $10bn (£7.9bn) worth of gold, platinum and other precious metals are dumped every year in the growing mountain of electronic waste that is polluting the planet, according to a new UN report.

      Further on:

      E-waste contains materials including copper, iron, gold, silver and platinum, which the report gives a conservative value of $57bn. But most are dumped or burned rather than being collected for recycling. Precious metals in waste are estimated to be worth $14bn, but only $4bn-worth is recovered at the moment.

      The point of the article is that not properly recycling electronics is an environmental problem, and that there’s also a substantial dollar value of precious metals in there as well (though clearly not enough for “the market” to take care of it).

      • call me ArtieMEMBER

        Gold? Silver? Phht! I like me some Rhodium. Platinum is nice, but common. Palladium, yes, that’s sweet, too. But Rhodium…ahh…Rhodium. My Preciousss

  3. Geez how feral was Weekend Links. Just read it and feel like I need a wash in hand sanitiser.

    Only one thread on house prices and that was at 8.37pm.

    Nothing at all on gardening.

    The world has gone mad!

    • Ok so apart from house prices, and world going mad, how about Australian delivered Japanese imports from the 90s. Here is an FD RX7 and R32 GTR (with 200,000kms on it), both appear to have sold for crazy amounts of money..
      https://imgur.com/a/gsprcdE

      And it’s not like it’s a 1 off. I’ve seen a few now getting these prices.. after lockdown eased quite a few of these cars sold (a lot came onto the market and as border restrictions eased they sold)..

      Then there is also the older stuff like this 240z.
      https://bringatrailer.com/listing/1972-datsun-240z-127/ ~($150k AUD)..

      I think people are choosing to park their money outside the banking system (fear of negative rates more QE perhaps?) and lower rates for longer?

        • Ahhhh now i see what my prepper stash is lacking! Massively tooled up collectors vehicles.

          Ok, on it.

        • BigDuke6MEMBER

          Another thought is that in oz anyone prepared to drive a bumper truck 2 weeks on 2 weeks off can earn $200G a year. Those folks are thinking outside the box after learning from their parents to stay away from timeshares and encyclopedia brittanica

          • What’s a bumper truck BigDuke6? Did you mean dump truck operators on mine sites? Don’t think they are getting $200k per year. General, multi-skilled operators would be on about $45-50/hr tops. So, $50 x 12hr shift x 14 days on (13 swings a year max) = $109,200.00 gross.

            A longer roster would see that go up a fair bit.
            Say 4weeks on/2 off. $50 x 12hr shift x 25 days (have to have 24hr off fatigue policies so 8.67 swings a year) = $130,050 gross

            Maybe topping out at $60 during the mining boom 2009-12.

        • There was a Skyline in Madmax skip to 10:15..
          https://youtu.be/HCuDqzeYzuw

          1 of my old metal fabrication teachers from Tafe at St George’s Kogarah worked on the vehicles in the film also. I managed to see him in a making of video on YouTube.

          Love that film and the originals.

        • drsmithyMEMBER

          I dunno that technologically fancy cars like a Skyline would be a good choice for the apocalypse.

          • call me ArtieMEMBER

            My vote for apocalyse car goes to Daihatsu Charade 998 cc 3 cyl manual.

            Big fast cars? Someone will have one faster, or a rocket launcher. What you will want is an indestructible, fuel-tolerant, non-electronic workhorse, light enough for a bullock to tow. Even then someone will try to steal it.

            EDIT: Also need to be able to find many wrecks for spare parts

          • I don’t think an XB Fuel Hungry Falcon would be either. I’d probably want a Tesla.. or something extremely simple and durable like an old Datsun 120y/180b..

          • C.M.BurnsMEMBER

            Surely the top gear lads showed that an old Toyota Hilux is the most indestructible and therefore most desireable car for any post-apocalypse world

          • The Traveling Wilbur

            Proved it? Proved it multiple times. Best car ever built that one was/is (that doesn’t get driven by Bruce Wayne).

            @Gav
            Thought you were describing our jumpy little friend for a mo’ there.

      • Gav, on a personal note I find this heartbreaking. Japanese cars have been the more accessible way to access performance vehicles for enthusiasts for the longest time. They were the people’s alternative to the local option. Now, amongst other forces, the US demand for RHD cars has set off a speculative price surge just like every other asset class.

        • Yeah on the 1 hand it helps me justify putting money into them. On the other hand it sucks because each year I need to put insurance up (which costs me more for my Premiums) and I have to worry when I take them out that someone will damage them or try to steal them..
          Plus it means cost of parts is going up. Thankfully my 240z’s are mostly complete and original but the parts I’m am missing seem to double in price every few years because they are usually the same parts missing on other cars…

          I don’t know if this means they are in a bubble or not? But with central bankers doing what they are at the moment, it just seems to be driving prices up for all sorts of assets outside the financial system.

          I was actually looking at FPV Falcon F6 (W/310kw) Barra engine. They are still $40-$60k but not bad considering prices fof Japanese classic stuff…

          • Yeah it’s all very interesting given the economics of the last 20 years where assets are concerned. Can classic cars be in a bubble? I really don’t know personally, but that old phrase “well they’re not making more of them” at least holds true in this instance. I obviously find it interesting because of my obsession with cars. What I would love to have is the national secondhand sales price data and chart that over time. You’ve done well to get in early, and I’d at least like to jump in on something cool for a bit of nostalgia before prices accelerate out of common-sense’s reach. Been looking at MY99 WRXs and older A60/70 Supras, but both becoming hens teeth in my region.

          • I reckon 80s cars are starting their upward trend. I am helping a friend with his 3rd Gen Prelude. We got it for $600 as a non runner. Interesting to see what they are worth in a few years.

            I also like the first gen WRX and the 2 doors are already $80k+ TM Evo’s are already through the roof.i was never a fan of that generation of Supra. But as you say impossible to find now.

            I think anything from 89-01 is starting to appreciate now. I’ve noticed FC Rx7s are going up and 300zx’s (slowly).

            I never really bought my cars to start with as investments but it’s turned out to be better than my stocks, cash in the bank etc.. and so far probably better return than the house. Ha.

            I wish I bought an R32-R34 GTR when I had the chance.

          • drsmithyMEMBER

            It’s the upper decile who grew up lusting over those cars hitting their peak income years.

            Older Gen Xers, in particular, would have likely gotten into properly early enough to potentially have some serious equity, mate, to blow on the hotted up car they desperately wanted through their hormonal years. Plus they’ve probably finally offloaded the kids.

          • @DrSlithy demographics are a big part of it. I agree it’s likely well to go Gen X driving them up.

            I actually don’t think the prices are too extreme given that in 1991 a new R32 GTR was $90k+ as was an AU market RX7. The SP version was $100k+

            When you compare the cost of a house back then (late 90s average Melbourne home price was probably $250k) then it helps put in context how expensive these cars were. If you consider inflation today, these prices are not that over the top…

            Although I can’t afford / justify it myself… Unless I bought a cheaper house… I could buy an R32 / R33 or R34 GTR but I would rather pay down the home loan or build a garage + I have run out of space for all my toys anyway. Otherwise I probably would be more tempted. I do think they will be potentially good investments over the next 10 years.

          • The only attraction of those boring looking A70 Supras for me is the double wishbone front and rear. I think that’s pretty cool.

    • bolstroodMEMBER

      This comment contains Gardening material.

      Mrs. B and I have spent much of past 2 days completely emptying and reconfiguring our Garden Shed.
      Out went the tinny and all things Nautical, along with many mostly empty paint tins, watering cans, who needs 6 plastic watering cans ? Rat corpses, and the dust of decades followed. The completely collapsed bunnings free standing broom cupboard, converted to a kitchen pantry 40 years ago is now on the fire heap awaiting immolation before the fire bans recommence in August. In it’s place are the new plastic shelve sets from Aldi.which will make the rat’s home making efforts much more difficult.
      If this sounds like the aimless and meandering ramblings of to much red wine and good living , and to much Iso you are right.

      • Love it Bols, yes I too am attacking the garage at the insistence of the missus… if I don’t decide what to throw out then she will…! And that would mean great swathes of history are destroyed!

  4. GETTING REAL ABOUT COVID … PERSPECTIVES FROM THE ECONOMIST AND AIER …

    Covid-19 is here to stay. People will have to adapt … The Economist
    … h/t DL …

    https://www.economist.com/leaders/2020/07/04/covid-19-is-here-to-stay-people-will-have-to-adapt?

    It is astonishing how rapidly the pandemic has spread, despite all the efforts to stop it. On February 1st, the day covid-19 first appeared on our front cover, the World Health Organisation counted 2,115 new cases. On June 28th its daily tally reached 190,000. That day as many new cases were notched up every 90 minutes as had been recorded in total by February 1st … read more via hyperlink above …
    .
    .
    Smash the COVID Orthodoxy … Ethan Yang … AIER

    https://www.aier.org/article/speak-out-against-the-covid-orthodoxy/

    … extract …

    … The gatekeepers of news and information should be asked why there has been a sudden shift from COVID-19 deaths to simply new “cases.” Perhaps it has something to do with the fact that the death rate is at less than a third of where it was during the peak. … read more via hyperlink above …

  5. boomengineeringMEMBER

    My first test ride in months , getting ready now. If I come off, my arms had it, so will be a short extra careful one. Amazing how fat one can get in such a short time.

      • boomengineeringMEMBER

        Thanks, G Baby, Just got back, had my once a week coffee on the way back with my mate watching the Manly sunrise (perfect weather) with the Bold and the Beautiful entering the ocean for their ritualistic swim.
        I wonder if C3PO was swimming this morn ?
        .
        triage,
        As you may know I have an interest in pre Cook Australian history, but have until now concentrated on pre Cook European settlements because I was under the impression that the Chinese didn’t come here but sailed (in boats three times the size ) below India to Madagascar. The only visitors I thought were from neighboring islands. You obviously have access to this missing part of my research so did they leave definite proof of landing here and or documentation ? This is where the obvious short fall is with the early Spanish and Portuguese probable visits, thereby leaving the Dutch with that title so far having concrete evidence.
        Feedback much appreciated. .

        • Boom, sorry mate, I don’t know too much about China’s grand adventures in the 15th century. It is a fact that the officially sanctioned fleet did get down as far south as Java as they fought a battle against one of the local “kingdoms” there. What I think stunned people about President Hu’s claims was that there is no record of it (the Chinese were diligent record keepers) and that he made the claim in a formal setting to our national assembly. It could be that perhaps Chinese privateers may have pushed on south of Java but if they did they left no known record. If they intermingled with the locals you’d think that would be picked up in genetic testing (for starters I think han Chinese typically have Denisovan genes whereas Indigenous Australians should not have (?)). And unlike in east Africa I don’t think any Ming Dynasty relics have been found in Australia.

          I agree it is fascinating what went back then that has been left out of history books. Also the Columbus discovering the Americas story when in fact there had had Portuguese fishermen, Scandinavian explorers and even Irish monks who had been traveling to north America well before Columbus.

          • Mining BoganMEMBER

            Hu jumped on the rubbish written in Gavin Menzies’ book 1421. Historians advise you to ignore it. Flimsy, dubious and fraudulent were the words used to describe it.

            That stuff Booma bangs on about is spot on though.

          • Yes, apparently they are, thanks for the correction. When I was living in Hong Kong I went to a chinese doctor, who looked at my eyes (I think) and made all sorts of diagnoses. He wouldn’t prescribe me any of his bat wings, desiccated sea horse mixtures though as he argued that his stuff only works on Chinese but not on white fellas as we were not the same. At the time I thought he was an idiot (well he was seeing he thought dried deer testicle had curative powers) as we are all the same under the skin. Then this whole thing about the Denisovans emerged indicating that Europeans mucked around with Neanderthals and Asians with Denisovans meaning we are actually noticeably different. Science hey!

          • boomengineeringMEMBER

            Thanks, yep DNA, is great for proof. The English wiped out all the first whyte Aussie peoples but left the black tribes now tested having 94,% Dutch blood.
            Have a freind of Viking decedancy who said they conquered and settled parts of Britain and went to America before Columbus.

        • Didn’t swim this morning Boom with the kids’ soccer now back on – first one I’ve missed for a while but going to miss a few now depending on kick off time.
          Hope everything heals well.

          • boomengineeringMEMBER

            My young mate from Balgowlah wife is a soccer coach and their 3 boys play soccer as well.

    • bolstroodMEMBER

      Equaly amazing is how damn hard it is to rid oneself of the unwanted material.

    • Mining BoganMEMBER

      Thank Dog! Last week was painful.

      Did she do the election last night? Wonder what she made made of it when Speers said Labor are only in front because of the way the votes were counted.

      • Yes, if votes were counted the PROPER way, ie one vote for every acre of land you own, the right result would not be in doubt!

      • migtronixMEMBER

        I’d vote Labor if they said they’ll send the AFP to raid Speers house and get him to cough up all his corrupt colluding and dck sucking…..hate him

  6. Re the Mark Blythe video.
    If The Fed etc announce they are going to issue a massive amount of Bonds – because it’s so cheap to do so, and they’ll be heavily bought in the face of the threat of negative interest rates – and at the same time, buy stocks, to put in a Sovereign Wealth Funds, then who in their right mind would by Bonds at all instead of joining in the Stock buy up?
    Maybe that’s what’s happening and we haven’t been told yet, but whilst the idea may have appeal I don’t see how it works in practice.
    Sure, you could mandate The Banks have to hold $X of Government paper, but that becomes a ‘one-off’ and then what?

    • The way things are going around here, one-offs quickly become ‘best three out of five’, sadly…

    • DominicMEMBER

      I didn’t see the Mark Blythe video but the way it works is like this: the Fed does not issue bonds, the US Treasury does. The primary dealer network buys them all and distributes them to buyers (foreign central banks, pension funds etc). All unsold bonds the PDs have to hold until buyers are found. That’s where the Fed comes in – they buy the unsold bonds with newly printed money, which the PDs then then use to conduct their daily business – purchase risk assets perhaps.

      The point is that the Fed is the buyer of last resort for US Treasuries and will buy the whole lot if investors desert US govt bonds.

      • If you watch the above linked video, I think you’ll find that all you’ve just described is just shorthand for The Fed issuing Bonds.
        The mechanics aren’t important; it’s the principle they outline and the fact that however the funds are generated, and by whom, they go to one end – buying Stocks to put in a Sovereign Wealth Fund.

    • call me ArtieMEMBER

      Hi Janet. I’m not trying to be smart here. Just a point of order. The Fed doesn’t issue bonds. The Fed might buy bonds issued by other parties (e.g. usually the government, but recently considering commercially issued bonds, too). Or sell bonds it already holds. It doesn’t issue bonds. Artie

  7. working class hamMEMBER

    Re the Age article on business support package.
    Debt jubilee? This could be the biggest rort in Aust history.

      • migtronixMEMBER

        Cucker cucking for “whites”. Sure let’s try another TV douchebag for President, what could possibly go wrong?

        • Stewie GriffinMEMBER

          Because I know Trump drives you wild:

          https://twitter.com/DonnaWR8/status/1279400898238779392

          Not saying Tucker would be a good or bad President, merely pointing out that imho he is likely to run for President.

          Carson has a profile and an increasingly fanatical fan base, who is known to have directly influenced even Trump’s decision making. Understanding the media and more importantly how to manipulate it, appears to be an attribute of rising importance in regards to being a successful politician and getting elected President.

          Would Trump have been able to even run for President if he hadn’t previously cut his teeth on Television’s “The Apprentice?” I doubt it. His achievement was impressive, considering the virtual shoe string he ran it on compared to other candidates, instead he simply cynically channeled the underlying anger and cannily manipulated coverage.

          Carson has exactly the same attributes – only more so. Carson as a bore well straight into the aquifer Trump has only occasionally tapped. He is also incredibly wealthy outside of his TV show, being some heir to the Sara-Lee food empire or something. He most definitely is not some humble home grown country boy made good. Carson’s a spoilt, well educated, frat boy who may or may not end up being a corporate or cultural stooge…. BUT none of that influences the fact that if you search for 2024 Republican candidates he would posses many attributes that could lend him leadership to that particular field.

          I’ve always been more interested in what is going to come AFTER Trump. To me Trump was always more about what doors is he going to open and where will they lead, then what he was going to accomplish in terms of building walls or withdrawing from overseas – Trump’s main accomplishment imho was always going to be breaking the stranglehold of Globalist ideals and championing the Nationalist narrative, and giving voice to a great many people who feel they have been cut out of the story of their own societies.

          Beware what comes after Trump.

          • ErmingtonPlumbingMEMBER

            I thought “how Fvcken cool is this!” when Trump won.
            Not because I like Trump or thought he had anything to offer but rather I surmised he would show up just how broken Americas 2 party “Democratic” system is.
            He would, inadvertently, be a catalyst for change.
            It would Force the Democracts to field a less Wall at inclined candidate next time,…someone like a Bernie Sanders.
            Instead we get someone, almost as, equally farcical. Joe Bidens dementia is going to be worse than Rayguns at the end of his presidency.
            What’s even more depressing is just how much Media/political attention is given to this whole fking side show. This shyte isn’t real Democracy! Its a fking circus. It’s all just spectacle. Something to pay attention to rather than paying attention to the oligarchic destruction of US democracy.
            Joe Biden will continue this destruction and probably at an accelerated rate.

          • Stewie GriffinMEMBER

            I agree with you on Biden – his presidency, (if it occurs) will simply turbo charge ‘Woke Capitalism’ and the fascist corporatism that lies behind it as a movement.

            Trump has been a bit of a disappointment too in that respect too. I would he’d have thought he’d have galvanised the DNC into genuine reform and focus on the American worker, instead they’ve bunkered down, hunkered down, and tripled down on Biden. Tulsi, Sanders, both genuine old school democrats that were smothered by the DNC and a media that marches in ideological lock step with them.

            The raw hatred by the MSM of Trump is about the sole remaining endearing quality of his presidency. The enemy of my enemy…

          • migtronixMEMBER

            “the enemy of my enemy” you watch pro-wrestling and get your jollies that way too? Trump is a reality TV real estate mogul, how is that not your enemy??

          • Stewie GriffinMEMBER

            I never said that he wasn’t, I’m mostly along for the ride now – but how do you prefer your enemies?

            As easily identifiable buffoons? Or slimy shape shifting Corporatists and their media lackies who spend all their time and effort trying to persuade you that good is bad, and bad is good?

          • migtronixMEMBER

            I prefer the ones that have been obvious frauds for decades over the one that destroyed that last hope we all had – surely a non politician can do a better job? Well now we know thanks to the fraud Trump who just made all their lies real…

          • Stewie GriffinMEMBER

            So in other words you’re angry because you were in the “Save me Trumpy, you were our only hope!” camp and he didn’t come through.

            Coolio – it’s okay. Things will get better, eventually you’ll move on from the ‘Anger’ stage of grief to ‘Bargaining’, ‘Depression’ and finally ‘Acceptance’.

          • Stewie GriffinMEMBER

            Duped?

            LOL – Dumfph has done just about everything I expected of him. Yeah I hoped he would do a little more, but this is about what I expected.

            Life trick – set your expectations low and rarely be surprised.

    • migtronixMEMBER

      I petition to bring back @BoomersAreEvil instead of this b00mer loving magatard version.

      • Stewie GriffinMEMBER

        I just asked the questions – Why did Boomers values change? Who changed them? The Boomers cultural revolution WASN’T a generational one, it was literally another culture imposing their values over our own.

        “We’ll get you through your children”

        – Allen Ginsberg

        …and so they did.

        It doesn’t abrogate Boomers from the title of worst generation ever, it merely leaves them no worse or less human than Eve who was tempted to take that first bite of the apple.

        • migtronixMEMBER

          Oh fvck off. So God creates Adam cause He’s bored sh!tless and wants mud boy to follow Him around the garden in the cool of the evening. OK we’ll just go with that for now.
          Then God is like, you know something mud boy, you must be bored too only being able to hangout with the creator of everything. This is a problem I can fix and it will only cost you a rib!
          So right here we find that God is the original human organ trafficker, but we’ll let that slide for now….

          For whatever reason God doesn’t create another mud boy for mud boy but decides it’s a good idea to make her just hot enough to tempt any serpent. Keeping up???

          Eve, God bless her, knows exactly what to do with the snake Adam was too innocent to jerk and next thing you God is all pissed off and back to walking the garden in the cool of the evening by Himself.

          So instead of just creating a blow-up sex doll to get his jollies He creates a species to fvck over for all time.

          Cool story bro.

          • Hill Billy 55MEMBER

            And yet there are some who believe that said mud became an amoeba became something and something and became something else simultaneously and became something which became us. Really?????

          • migtronixMEMBER

            Hill Billy 55:

            Nobody believes that. If “amoebas became us” there wouldn’t be any amoebas would there??? What evolutionary biology postulates is that, because we only find”new” species in the fossil record that had specialisation heralded by earlier species – see feathered dinosaurs – and never find a proliferation from more specialised to less, there’s a good chance a positive correlation exists.

            But hey your book is cool too….

          • ErmingtonPlumbingMEMBER

            “Cool story bro.“

            Ha ha,…a warm and long LOL from me Mig

            God love ya brother,…that was a wonderful “Hitch slap”

            This one is my favourite and reflects my view on the matter.

            https://youtu.be/MJ2LehsA1dk

          • ErmingtonPlumbingMEMBER

            Episode 1 and 4 of Century of the self a must watches for anyone wanting to understand the reality of today’s politics.

          • migtronixMEMBER

            Disagree. TV is dead and the one way mirror that Curtis focuses on is shattered.

            Modern politics is the result of the media losing control of message and the parties loosing control of the public, so they keep throwing sh!t at wall hoping ScoMo sticks…

          • “Hypernormalisation” is a masterful piece of work. Our future omens are not flash given the rabbit holes of the past he so beautifully exposed

          • GunnamattaMEMBER

            One of the great series – and for the most part I reckon Curtius absolutely nailed the neoliberal era.

            The juxtaposition of the execution of the Ceaușescus with the Jane Fonda workout set to Brian Eno’s “On Some Faraway Beach” in ‘HyperNormalisation’ is (IMO) the very high water mark of documentary film making in my life time.

            this piece

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

          • I actually haven’t seen Hypernormalization yet, but, that scene was indeed brilliant. I did not know the film maker was so active on the topic. Which of Adam Curtis’s other works would you recommend I start with?

          • GunnamattaMEMBER

            My take on answering that question would actually differ on how old you are.

            I am mid 50s (Gen X) so almost all of what Curtis has covered has been my lived experience- not the Century of Self start, but the Bernays and rise of psychology reference fed through to marketing and mass production etc I readily knew and observed very closely, and the politics/economics I knew by heart. So people my age can pretty much plug into his work almost anywhere.

            Curtis himself has said a number of times – often as some form of address to criticisms of him that his work is, though astoundingly ‘artistic’, is profoundly bleak, and offers the viewers no way out of the limitations he points to in the contemporary political and economic and corporate and social landscape – that a large part of the point of his work is to reconcile the lived experience of ‘the age’ with an alternative narrative, or even an more ‘rational’ or more verifiable narrative, than that which has been offered politically or by the media in the age in which a ‘false’ narrative has all too often been the basis of national and international decisionmaking, and where publics around the world have increasingly been ‘brought along’ with the narrative after the ‘real’ decisions have been made. His work carries a number of implicit criticisms of journalism, economic rationale, and political expediency and process, as well as corporate interests.

            If you are much younger (and dont have the lived experience to reconcile or calibrate your impressions of what he portrays) I would be inclined to go to the most recent doco (which will provide a lived experience for you to calibrate with) and work your way back.

            As someone who has worked in legal, media, public administration circles for a long time, in Australia and elsewhere, and been part of the rise of Russia Today or RT as it now is – I tend to think that I owe him for framing a narrative which I suspect is closer to the truth of my lived and observed experience, and would observe that that narrative fundamentally encapsulates the crumbling of NeoLiberalism as an intellectual narrative, the almost complete emasculation of organised left wing politics in the developed world, and the rise of people like Trump, as well as why people like Putin are quite acceptable to the Russians. It all reflects an increased inability of the people in our societies to be able to reconcile their lived experiences with the messages they are receiving from their elites, which ultimately comes back to intellectual or moral failings of the intellectual frameworks of those elites.

          • Thanks for the detailed reply Gunna, it will help as I watch his stuff. I’m mid 30s, so I might start with his latest then, I imagine you would consider that much younger.

          • Stewie GriffinMEMBER

            +1 Thanks for the links and thoughts. “Century of the Self” is a great series.

        • Stewie GriffinMEMBER

          @ermo – The guy asked Hitchens the wrong question.

          He should have asked Hitchens if he could name one completely faithless, atheist civilization filled with nihilistic goals ‘that nothing really matters’ which spontaneously arose at any time throughout human history, and that if those values were unable to create any such society, why does he think those values will be able to sustain let alone to perpetuate itself forward?

          Surely if religion or culture doesn’t matter, there would be at least one.
          😜

          • migtronixMEMBER

            You really are obnoxious. How about the opposite question, how important can culture be when we still use beakers thousands and thousands of years after the beaker culture went extinct?

            Because its skill/expertise/knowledge that matter in the long run, not culture.

          • Stewie GriffinMEMBER

            Leading with an ad hominem on a comment that wasn’t even addressed to you? Some might think that were obnoxious.

            Thanks for the analogy about ‘the beaker culture giving us beakers’ too, it really coherently tied the rest of your statement together so well.

          • migtronixMEMBER

            Some might and I don’t shirk from the charge. Unlike you and your bs “do unto others” I prefer “live by the sword”.

            You didn’t understand? We call them a beaker culture for what is actually a technology as the technology is the stronger claim – not their burial rituals or anything else.
            If culture is what matters while you point at the absence of a civilization born without a God then why do we still have civilization long after all those cultures have been dead and buried?

          • ErmingtonPlumbingMEMBER

            “completely faithless, atheist civilization filled with nihilistic goals ‘that nothing really matters’”

            Never heard Hitchens advocate for Nihilism or state that “ nothing really matters”
            As for pre enlightenment civilisations they were all ignorant superstitious, human sacrificing believers in magic, demons and Ghosts.
            Forgivable I suppose considering the limited amount of knowledge our species possessed in those early days of human cooperation and organisation,….but such ignorance is very hard for me to forgive today.

          • Stewie GriffinMEMBER

            I prefer “live by the sword”.

            Blah ha ha ha ha ha ha hah…. sorry, sorry…. blah ha ha ha ha ha ha hah!!

            I’m afraid if you have to explain your analogy then it probably wasn’t a very good analogy in the first place, and now that you’ve explained it, it has still left me none the wiser as to whatever cryptic point you were trying to make with it in the first place. Cultures obviously change over time – they get conquerored, they get replaced. That is almost as an insightful your earlier revelation that Fairy Tales in the Bible are…. Fairy Tales.

            @Ermo – Hitchens was a legend and I’m sure he never advocated for nihilism. The points Hitchens makes about messianic belief are all very pertinent, are should be called out. But to suggest that that is all of what religion is about is just as plainly false. My point was that faith has been a necessary component for every civilization to ever arise. As to how necessary it is in order to perpetuate a civilization once built, the verdict is still out on that one.

            All good ✌️

          • migtronixMEMBER

            Wait wait wait. Fairy Tales aren’t culture then?

            You’re just not very sure of the nonsense you’re peddling. If cultures change over time but civilization persists then it’s not culture that is really important is it? Indeed the dark ages loss of significant civilization is because the fountains stopped running and the aquaducts went dry – not because the plays didn’t get performed, they did….

            And faith? OMG did they have ever have that! They just didn’t have engineers.

          • migtronixMEMBER

            I suspect I need to set my analogies down to your level as a life hack or something?

          • migtronixMEMBER

            And I still don’t get what you’re saying. Which culture is important? Which faith is important? And if you’re OK with fairy tales based faith and cultural changes as a paradigm in human civilisation, what the fvck are you always on about???????

          • Stewie GriffinMEMBER

            Three comments!!

            Heavens be praised!

            Is that a sign of your acceptance of the Holy Trinity?

            As Olaf said – who would ever have thought an analogy would be so triggering?
            🤣

          • migtronixMEMBER

            It was triggering because you blaming Eve as the example of fallible humanity is exactly the kind of garbage the alt-right you regurgitate so frequently is replete with.

            Theyre not just racists and bigots but misogynist too – in this whole exchange you’ve done nothing to show you’re not yourself and again I petition for a return of @BoomerAreEvil

          • Stewie GriffinMEMBER

            It was triggering because you blaming Eve as the example of fallible humanity is exactly the kind of garbage the alt-right you regurgitate so frequently is replete with. Theyre not just racists and bigots but misogynist too

            Shall we re-examine my ACTUAL comments as opposed to your IMAGINED comments?

            It doesn’t abrogate Boomers from the title of worst generation ever, it merely leaves them no worse or less human than Eve who was tempted to take that first bite of the apple.

            So my comment, designed to show forgiveness and a degree of understanding, was on par with racist, bigoted misogynists of the alt-right, because I dared to use a religious allegory, one of the many meaning of which is commonly understood by most people as being about being human part of the human condition and making mistakes and giving in to temptation.
            🤔
            But of course you’ve been educated that it is culturally misogynistic and patriarchal because it happened to Eve as opposed to Adam, because in the woke world we live in and whose values you appear to embrace, lessons and allegories can only have aspects of universalism and valid learning if it happens to a gender neutral protagonist named zer.

            I understand why you dislike religious people – I generally dislike them too when I take my kid along to their weekly cultural indoctrination center. Being surrounded by so many genuinely nice people, always giving up their time to volunteer for this charity or that funding drive, sacrificing in so many ways for their community.

  8. CHINA’S ESCALATING WOES …

    Exclusive: Huawei faces 5G ban in Britain within months
    Boris Johnson expected to order about-turn with GCHQ set to raise new security fears over Chinese technology … UK Telegraph
    (behind paywall)

    https://www.telegraph.co.uk/politics/2020/07/04/huawei-faces-5g-ban-within-months/
    .
    .
    Taiwan offers refuge to fleeing Hong Kong citizens … UK Telegraph
    (behind paywall)

    https://www.telegraph.co.uk/news/2020/07/04/taiwan-offers-refuge-fleeing-hong-kong-citizens/

  9. For those of you that keep spewing crap about wanting a UBI, take a long look at Melbourne’s lockdown of the housing flats. Notice they haven’t been testing in my leafy suburb but in all the poorer suburbs who rely on the state for money. Once you start relying on handouts for food and shelter that will be your destiny. Me I’d rather keep working for my money and retain my freedom but it seems a lot here can’t wait for someone to control every facet of their life.

    • C.M.BurnsMEMBER

      Sydney’s eastern suburbs were consistently the hotzone for the entire city during the initial outbreak of C19

      Singapore’s second wave outbreak was almost exclusively in the high density “slum” apartments that house the migrant workers the city relies on. These migrant workers work far harder and for much less than you or I or pretty much anyone on this blog do each week.

      In the US, one common factor to many of the states seeing massive increases is a large number of working poor in historically conversative states (with less social safety nets than liberal states) – because those hard working poor have no safety net, no savings and have to work to survuive, even if they’re sick with C19 (or anything else)

    • CharlieM, you are clueless about the UBI and clueless about society in general. Elites living in mansions also receive free money from the government in the form of rent that the elites collect for “owning” natural resources.

      Rich parasites suck far more from society than these poor working plebs living in the dogboxes.
      The punder of the elite is merely hidden such that dumber members of society, such as you, cannot recognise it.

  10. Question for accountant types. I invested in a dodgy startup some 20 years ago, unable to sell shares even for 0c. The company is “now in suspension and not trading as a going concern”.

    Can I finally write this [email protected] up as a capital loss on my tax return?

    • Not until it is officially wound up.

      But you can sell it to your missus for a dollar.

        • Hill Billy 55MEMBER

          Be careful that you document the value if “selling to the missus” as that could be seen by the ATO as problematic. A third party would be more sensible, and still have the docs to back the value up.

    • SupperannuationMEMBER

      They should just hold up signs saying “We will take your money but won’t ask any questions”

  11. migtronixMEMBER

    It blows my mind that Luther could find 900 inconsistencies and corruptions with the people peddling from the book but didn’t find even 1 in the book he was peddling!!

    I can find 900 plus before they ever leave Egypt. Actually the Egyptians are the most honourable in that whole stupid story and the guy who pimped out his sister wife twice the most disgusting. What kind of God chooses Avram but only with one of the chicks he was banging? Sarah was one nasty hag…

    • The Traveling Wilbur

      That housing estate still has the same major problem the existing Australian housing estates you refer to above do – still can’t get a decent kebab in any of them after 9pm.

  12. Brains Trust question – Does anyone know the extent of global supply line disruptions? Are we about to experience a goods/parts shortage? Have freight/goods/parts resumed coming from China?

      • Yep bought a trek marlin for my daughter in Feb (~$800) – exact same model now $300 more expensive and stock is limited.

      • I don’t get why people buy crappy new bikes when you could buy a high end bike second hand.

        I still have my year 2000 GT Zaskar which is now quite the grandfather’s axe. I gave it a major refit in 2010 with XTR 9spd stuff. Unbreakable.

    • My Mrs is noticing some general homeware isn’t available online anymore, but is still available in shops only – shelf dressing? And less of the neverending sales. Some pharmacology is being rationed. Some cheap import machinery I’ve been tracking has risen ~10% – No EOFY sales. Wondering about PC & Laptop supplies after the WFH buy up? Cars seem to have gone up despite nothing being sold?

      Not tapped into enough samples down here, but wondering about all of it really. Supply & Inflation…..

      • boomengineeringMEMBER

        You can buy a good LUX mill for only 1K, maybe the small less amp ones sell for more because they are easier to move and 1ph any home has.
        Posted a few days ago, photos & story but don’t think you saw it

        • Thanks Boom. I saw it, but when I went back to comment I couldn’t find the page (I rarely get email notifications). I don’t remember seeing one that feeds all from the front. It looks like a sturdy beauty that would do good work, but way too large for me & presumably 3ph….. Had I the room I’d be going for (usually) better looked after shop size stuff…. I’m not a fan of older hobbyist bench size lathes/mills, so I’m looking at the usual Chinese imports for smaller newbies. Size, dollars & condition weigh better that way for me I think…… Inspection & transport are a PITA too…. Was there a site for the $1k Lux level?

          • boomengineeringMEMBER

            Yep the same size as the photo sold for $1,100,couldn’t beleive how cheap. After losing all my money early 1990s renting, started back in engineering, 2000, and bought a big old 3ph Southern Cross diesel generator to power all the big
            machines. Btw Boom Engineering Ship Repairers est 1985. Now at my house have grid 3ph 300amps.

        • Hello Boom you’re undoubtedly most knowledgeable in machining field here. Love your real life stories about fixing/lubricating machines. I hope you’re doing well after your mishap a couple of weeks ago.

          Can you suggest a milling machine for a SME electronics manufacturer. The aim is to occasionally modify a small quantity (2-10) of existing metalwork/enclosures,
          Material is either 2.5-3.0mm aluminum extruded panels or 1-1.5mm mild steel sheetmetal boxes.
          * occasionally = ~10x a year
          * budget $3k o.n.o.
          It’s a 6 weeks lead-time when having these made by a subcontractor in Sydney.
          Cheers

          • boomengineeringMEMBER

            At first glance would have said second hand Bridgeport but your small sizes suggest a toolmaker mill . If tight tolerances required a watchmakers mill but they are very expensive. .A small Bridgeport may still be the go but try for a manual as the circuit board and micro switches are unavailable, the manufacturer closed down meaning we had to make one to get the clients mill to work again. The other good thing is they were very popular meaning advice and parts availability.

          • boomengineeringMEMBER

            Would have been good to indicate overall sizes of the boxes, the wall thickness of material is less relevant , this would determine the table size.

        • High respect Boom. You’re right I didn’t provide all the critical constraints and the size does matter.
          (1) Tolerance: not critical, +/-0.2mm is perfectly fine
          (2) Object size
          The biggest metal enclosure is 1RU chassis, which is (WxHxD) 440x44x (arbitrary e.g.295)mm. It could be made from 2 different materials – aluminum and mild steel. In case of aluminum it can be disassembled into 6 separate major panels (think of a cube with 6 sides) and in a case of the sheet metal box – 3 major parts –
          base+rear panel… L-shape
          lid-(top+left and right side) … U-shape
          front panel … almost flat with some folds (10mm) around brim
          I see having holes routed into the rear panel of the sheet metal box could be an issue so let’s assume that’s not essential when choosing the milling machine. (my assumption is a budget milling machine won’t be able to operate to the height of 300mm (Z-axis) and/or being able to mill sideways).
          Conclusion: The largest object to be milled is of 400x350x100mm size. Anything else here is of a much smaller size and often very flat.
          Cheers.

    • My Kmart has been empty for ages now, seems they can’t restock. If you look at what’s left most is made in India or Bangladesh and not much China. Makes me wonder how much business is hurting when even sellers who have willing buyers still can’t sell due to supply constraints yet still paying high rents etc.

      • Yeah! So is mine. Entire shelves empty. The cutlery section especially. Weird.

    • roylefamilyMEMBER

      A big chunk of space under passengers in passenger planes was used for freight. It gone!
      So air freight is now rationed. I was on the phone to the customer service manager at Yamaha Australia last week. All spares are now sea freight. Only spares in support of essential services get on a plane.

      Yamaha Australia are running out of vehicles to sell. Motorcycle sales are going nuts. The Yam guy was looking through that and really worried about the slump to come.

        • roylefamilyMEMBER

          The reason I was on the phone was they bricked the ecu on my 14 MT-09 trying to do an ecu update. They are giving me a new one.

    • happy valleyMEMBER

      You have to understand that business leader and uni VC lives matter – and it’s screw the rest of us?

    • TailorTrashMEMBER

      “If we don’t ever need to use the fuel in the reserve, we can sell down the line for a hefty profit, Mr Coyne said.

      Spoken like a true Strayan……..we can make a quid here
      …maybe China will buy it from us

    • happy valleyMEMBER

      But, but – the LNP are the best managers of everything (including spin) so there is nothing to worry about.

      • The Traveling Wilbur

        Yep. 300 billion (or something) spent in the last 4 months… but they’re still the best.

        Would have been worse under Labor, of course.

  13. Rorke's DriftMEMBER

    Just wrote a post and it disappeared. 2nd time this weekend. Why. This is a Test post.

    • The Traveling Wilbur

      If you truly loved your comment you’d be happy it was free. If it truly loves you back, it will come back. One day.

      PS the word c h u n t is now on the filter’s word list. That might be it.

  14. DingwallMEMBER

    From the comment section in the SMH on Labor’s Eden Monaro win

    Well done Kristy! Your speech about ‘being there’ for all constituents regardless of who won, was gracious. Federally, we have no chance of winning with Albo, but you will be an addition to an already strong and talented Labor opposition.

    LOL bwahahahahaaaaa

  15. Out of Interest, did anyone find that missing F!sho that you were all looking for yesterday?

    • The Traveling Wilbur

      Don’t worry, it’s unlikely her singing voice will be affected, it’s just the flu. And it will all be over by the end of May / when the warm weather turns up / if we hide all the old et al people.

  16. Working this weekend was good. Not so keen on being around the public so much though seeing what’s happening in Hellbourne. Work has a solid covid safe plan but seeing how blasé the general public is when in hospitality venues, vwry easy to see how a second wave could take off and be severe.

    • Good news and a smart read on the situation I think. I have enjoyed working these past 2 weeks but that is partly because I’m wearing a mask and there are only 20 people allowed in each pool. Not sure how much longer I’ll be at work though given the case numbers are still rising

      • The Traveling Wilbur

        Lifeguard wearing facemask running from the infected masses.

        You just described the typical Friday night viewing for a fair chunk of the members.

        • Lol. I’m doing my bit to normalise mask wearing because that is where we are headed as far as I can tell, and I’m only getting ‘it’ if I’m extremely unlucky. Honestly there is no way I could work in a public setting and not wear a mask, the long term negative health implications of Covid infection that many people are experiencing terrify me, because I know that if I end up with those horrible after effects in addition to my existing chronic fatigue syndrome I’ll probably end up topping myself within a couple of years (I’d hang on for a bit to see if a miracle cure was on the horizon but then bye bye world).

          Apart from verbally being attacked by one colleague for wearing it (masks don’t work dontcha know?) and a being on the receiving end of a few really long looks by some people (including a couple of colleagues) I’ve had a few people say I’m doing the right thing, someone told other guards they should be wearing masks, and various people told me they wear them in other situations. I think there is a general reluctance to wear masks, but there might be a burgeoning understanding and acceptance that Straya is gonna have to be like the rest of the world and wear masks if we want our economy and our lives to even begin to approach something like what we had before. But the gov needs to come out and say ‘wear a mask’ before people will do it on any sort of scale.

          • Consider wearing a Bane (from Batman) mask. Frown increasingly and escalate to swift knees to the groin area.

          • C.M.BurnsMEMBER

            Just start walking around the edge of the pool in a full scuba kit / rebreather mask. Even when you’re out of the water.

          • @TTW, Harry, CM Burns, Triage and Frosty, you are all nuts but you either make me laugh or warm my heart so thank you all!!! I will be just fine

          • I am GrootMEMBER

            Continue to ignore the twits.

            Pollies and their medical fraternity mouthpieces painted themselves into a corner, telling everyone that masks were not useful because they knew they couldn’t supply them. It’s now sadly amusing watching them try to salvage their egos as they delicately tap dance back to a position of acknowledging the masks could in fact be of some value.

            Like Scomo with the footy, and Manchurian Dan with the grand prix, they only do what is necessary once they are left with no viable alternative.

      • So what are your rules of engagement for resuscitations, Poppy? I did a CPR refresher course just before lock-down and the word was either use the filter mask thingy you put over their mouths or just do the chest compressions and not the mouth to mouth. I guess you could get both cardiac and drownings with your work. Given the first priority is self-protection it must be a tough call.

        • desmodromicMEMBER

          A few years ago, we went to chest compressions only based on effectiveness.

        • We’ve got pocket masks which are basically a spacer between you and the person. We’ve also been given a surgical mask to wear before performing CPR which protects them. TBH we’ve only had to perform cpr once in the centre I think (we have had a couple of heart attacks or strokes but I don’t think they required cpr), in the 5 years it has been open and that is because a life guard didn’t notice a kid drowning fast enough (kid was very lucky and survived ok, no brain damage). Given that our patron numbers are way down I guess our chances of serious incident also are decreased so I’m not particularly concerned about that tbh.

  17. Segregate Victoria

    Western countries and their citizens don’t have the patience nor resolve to beat this pandemic.

    Toughing it out for 6 months is all too hard. We let their guard down after about one month.

    East Asia will beat it.

    Invariably east Asian (and Singaporean) students top test rankings worldwide. Even at age 15 they are able to put aside their urges, immediate wants and knuckle down. In comparison Aussie kids must have the highest rates of ADHD on the planet.

    You can’t expect an Aussie with a lifestyle of social media, reality TV, Uber Eats and easy credit to be able to sacrifice today (or the next 6 months) for 2-3 years from now. Same for Americans and Brits. A doomed culture.

    China play the long game looking to take advantage in 30 years time, we don’t plan past the next election.

  18. why the greeks never won world soccer cup?
    Cause every time they get a corner they open f!sh and chips shop. (Now I see why word f!sh not allowed)

  19. SnappedUpSavvyMEMBER

    The Bronx

    25ml Gin
    Table spoon sweet vermouth
    Table spoon dry vermouth
    25ml squeezed orange juice
    Shake with ice

    Enjoy

  20. SnappedUpSavvyMEMBER

    The Clover Club

    50ml Gin 🤪
    Splash lemon juice
    Splash raspberry syrup
    1/2 egg white
    Shake with ice

    Enjoy(don’t be afraid of the egg white it’s awesome)

    • adelaide_economistMEMBER

      Exactly what I would expect from the Guardian though. The ‘West’ is now weak and incompetent. No comment on what might have led to this. Possibly fifth columnists like the Guardian journo himself who quite casually points out Chinese atrocities but says, basically, look guys everyone did it so get over it. Perhaps he’s right and we in the West should therefore accept that anything is OK if someone else does it and start exterminating troublesome journalists like the CCP he’s busy fangirling for. Truly a useful idiot.

      • Segregate Victoria

        The west has failed miserably in dealing with a virus despite two month head start. Most of Asia has succeeded in containing it.

        Australia is still short of PPE.

        We’re not clever enough to manufacture PPE, forget anything more advanced.

      • drsmithyMEMBER

        Er, what ?

        Usually the Granuiad is copping flack for highlighting all the stuff the western world is doing wrong, not being accused of ignoring it.

    • Pretty accurate. If the West does not unite to constrain China, the West is going to get picked off one by one.