Weekend Reading: 4-5 July 2020

Global Macro / Markets / Investing:

Americas:

Europe:

Asia:

Trans-Tasman:

Leith van Onselen

Comments

  1. Congratulations Haroldus on being first.

    There used to be a poster on here going by the name of “ChinaBob” and then “F!sho” where the ! should be replaced with a i.

    He used to post some good stuff. What happened to him? Apparently the word F!sho (replace ! with i) is now automatically blocked. Does anyone know why?

      • That’s pretty F#cked up banning Electrical Engineers just because they know what they know their stuff.
        But this is Australia, where the Correct answer is very rarely an acceptable answer.
        That sort of makes “knowing your stuff” a rather dangerous and socially unacceptable attribute, making it rather obvious why he is banned.
        I’m lucky I’m just Buck and I’m just here to F#uck

        • boomengineeringMEMBER

          WW
          Great to see you back/still here/lurking
          , please give us some news.

          • Guys, when i get a moment i post on the strayan
            work on the surfing thingy is finished
            I went to rent a work shop here near the surf,
            but all the lease restrictions were too onerous, so the plan is to buy one.
            Mig always knows where I am. WW

        • 1.

          Hanging out for a GC update WW. Lots of water under the bridge since your last.

        • haroldusMEMBER

          Yeah what happened to that giant building?

          And wasn’t there something about corrosion on a wharf?

      • boomengineeringMEMBER

        Jacob, are you a super computer or have access to one or someone with an elephant memory.

        • Nah. I saved the comment because he finally got caught.

          His sister is a bloke? WTF?

          Lol finally everyone is starting to see through this LARPing bullsh1t artist
          I’ve been pointing it out for a while

    • The person with the username beginning with Com and ending with ing was one of the best commenters on this blog and it’s a shame he was banned.

      • MacroBusiness allows vulgar dissent, which wouldn’t last 5 minutes on brahmin-left Conversation or Guardian.

        However, I suspect I’ve been blocked from UK Independent and NineFax. Anyone had similar experiences?

        • Display NameMEMBER

          I am blocked on SMH. I suspect because I was fairly caustic about a few banking and economics articles that were deliberately blind to root causes.

          • Thanks for confirmation, Display Name. Me, I think it probably sarcasms about Big Australia.

            You gotta love your Peter Hartcher in the Sydney Morning Morrison, “Independent. Always.”

          • I am also banned on SMH. I suspect it is an automated system that blocks anyone that has been moderated more than x times. You used to be able to track which comments got blocked and it was consistently the same ideologues being spiteful to anyone disagreeing with their article. It had little to do with violation of SMH rules.

            I also didn’t comment often (probably once a month) so it is not like I came across as an activist or astroturfer.

          • Me three. It was during the bushfires when I said Morrison’s disappeared up his own a$$. Was I right or what! Watch Morrison get rid of the ‘old right’ and install the ‘new right’ to lift the TPP.

          • Markus Paddey

            At least they still allow comments. The Economist banned all comments in 2019

        • Blocked on SMH too.
          They dont enjoy it when you point out the double standards with article links.
          No rudeness or swearing but if you stray too far from the accepted narrative the Independent Always moniker quickly dissolves.

      • DominicMEMBER

        I don’t think he/she was banned – they just gave up after sustaining some serious heat.

        • I was close to be banned about talking about sunspots

          What I will say is we are deep in solar minimum which is information provided by NASA …. that’s a fact

          It also is a fact that solar cycles are 11 years in length – fact provided by NASA

          It’s a fact that the globe is cooler in solar minimum = fact provided by NASA

          Virus’s thrive in cooler weather – fact provided by WHO

          Jan Feb 2020 solar minimum

          The last solar minimum was 2009 when we had the H1NI swine flu pandemic

          This COVID will subside as we head up into solar cycle 25 later this year into 2021, the world starts to warm up again

          Im not sure if MBCCP will ban my comments

          • Bodacious Ta-tas

            Yes, warmer weather also leads to tea plants producing denser and more potent tea leaves…which consequently leads to an increase in the absurdity of bcnichs predictions

            Ps. Hows the new sandwich board going?

          • Flying close to the sun with that post bcnich. Lol. No I agree with the others. Keep posting…

          • lololol LMAO, so you think you’re Galileo reincarnated?

            Do you have a science degree that covers your solar thingy theorem, or you just connecting random dots that look like random dots .

          • Edited cause spambot f me

            Sitting on my front deck I started noticing all the gusts of wind and all the palms rustling, The low level sun creating auburn and dusty gold sepia. Made me think we just on a lump of rock spinning around the sun. The atmosphere and weather has been noticeably different, we’ve had random rain showers and the smell of the trees exhaling in the evenings, will be a shame to see all this evaporate.

    • drsmithyMEMBER

      I reckon the occasional poster of the last few weeks called “BSD” is China-Bob.

    • What happened to F!sho?
      Sounds like a good title for an episode of Babewatch
      I can see the intro in my mind,
      Scene opens with a Pamela Anderson running along the beach
      She looks out to sea and sees a boater in trouble just outside the surf break
      She dives into the water and searches but there’s no F!sho
      The Coast Guard gets called in and drag nets the beach but still no F!sho
      Exhausted but never giving up our Pamela sees something in an water and dives straight in
      On the beach we see her administering CPR but F!sho is not responding
      Each time Pamela looks away F!sho winks at the camera

      https://www.youtube.com/watch?v=fMGaOm_ekX4

  2. robert2013MEMBER

    https://www.zerohedge.com/markets/china-caixin-service-pmi-unexpectedly-soars-10-year-high

    My own wild theory: the HK security law is a clear signal to Taiwan that there will be no peaceful reunification. Therefore the Chinese are preparing for war. Indian border skirmishes reflective of growing Chinese military confidence. Perhaps high PMIs are the result of war preparations. Even if too soon, what other economic indicators could we expect to tick up in China of they were accelerating military spending?

    • robert2013MEMBER

      That list of 57 countries supporting the HK security law is our list of possible enemies. It includes PNG.

      • Why even in Canberra. Force them to move it to the middle of the simpson desert. Tell them its their new social distancing requirement. And they have to work from home as well. Good luck getting adsl out there buddy.

    • DominicMEMBER

      When the economy’s going well countries invest in productive stuff. When it starts to go down the gurgler, investment in military equipment ramps up.

      • Or, as the Asia Times wrote recently, it could be due to a popular Chinese saying: “Appear weak when you are strong, and strong when you are weak.”

        ― Sun Tzu, The Art of War

        • Stewie GriffinMEMBER

          “If you know the enemy and know yourself, you need not fear the result of a hundred battles. If you know yourself but not the enemy, for every victory gained you will also suffer a defeat. If you know neither the enemy nor yourself, you will succumb in every battle.”

          …and if you know your enemy, but not yourself you will succumb before every battle, for you have already lost.

          • Very true. I recognise the truth in particular on a personal level, with a serious battle recently fought, but once the other party and motive, was understood, it was pretty straight forward.

            Specifically as it relates to Chyna tho’, I suspect it recognises it’s weak and so is trying to appear strong. The same Asia times article painted Xi as a paranoid control freak, sacking anyone who disagrees and surrounding himself with yes men who don’t dare to speak the truth and so only tell him what he wants to hear.

            Bound to fail. Only a matter of time.

    • IMO not so much about unification. More to do with the location of Taiwan and never letting them side with USA.

      Consider that the main reason nukes were dropped in Japan was to defeat Japan a couple days before Stalin arrived with his troops. US wanted exclusive access to a militarily strategic location.

    • bolstroodMEMBER

      JUst to get the facts right;
      Hong Kong is a part of China,stolen by the British to Run their Opium organised crime racket into mainland China. Taiwan , formerly Formosa, is also Chinese, was where the defeated Nationalist forces of Chiang Ki Shek retreated to in 1949 (?)
      The Chinese will not give them up.

      • Yes, but the Chinese are no different to anyone else – once the freedom (all things are relative) of democracy has been tasted, as in Hong Kong and Taiwan, there is no going back to totalitarianism.

      • The native people of Taiwan are not han, From memory their language is Malay based and genetically they are reasonably close to the Maori. Taiwan was historically not part of China. There were small settlements of Chinese there when the Europeans first arrived but the Chinese largely ignored the place before and after then. The Japanese took ownership and put in a lot of infrastructure there in the first half of the 20th century. When I first visited Taiwan in the late 80’s some of the older people still spoke Japanese and tuned into Japanese tv stations.

        China might take over Taiwan but it is not their natural right to do so. To put it in some context you should refer to the speech given by President Hu to a joint sitting of the Australian parliament: “Back in the 1420s, the expeditionary fleets of China’s Ming Dynasty reached Australian shores. For centuries, the Chinese sailed across vast seas and settled down in what they called Southern Land, or today’s Australia. They brought Chinese culture to this land and lived harmoniously with the local people, contributing their proud share to Australia’s economy, society and its thriving pluralistic culture.” Before you hand over Taiwan to the Chinese because it is theirs anyway just remember that a similar claim has already been formally made to our national parliament. (and of course since then the Chinese navy entered Sydney Harbour uninvited).

        https://www.smh.com.au/national/full-text-hus-speech-20031024-gdhnfs.html

          • You already know the answer but I’ll play along. His ancestral home is south of Shanghai and he was Han Chinese. So what? The CCP has never ruled Taiwan, the KMT for only half a century, before that the Japanese for half a century, before that the Manchu for just over 300 years, before that sporadic interventions by the Spanish and Dutch, and before that the ethnic Malay aborigines for about two and half thousand years.

  3. Incase anyone else finds it interesting
    https://www.sciencedaily.com/releases/2020/05/200507121353.htm
    After studying global data from the novel coronavirus (COVID-19) pandemic, researchers have discovered a strong correlation between severe vitamin D deficiency and mortality rates.

    Im a huge fan of VitD

    and in other news
    https://www.sciencedaily.com/releases/2020/06/200610094112.htm
    In a new study, Johns Hopkins researchers found that testing people for SARS-CoV-2 — the virus that causes COVID-19 — too early in the course of infection is likely to result in a false negative test, even though they may eventually test positive for the virus.

    Could explain a few things

    • The dude was surprised about differences in mortality rates in different countries and hypothesised it was vit d, then gathered enough data. What he should’ve hypothesised is that different countries have vastly different definitions of causes of death.. e.g. in Italy people were dying of a multitude various non-covid causes but so happened to have covid in their test (which at the time was most likely a made in china test that tests positive for covid in things like dog food and cheese) but nooo they died of Coronavirus and we should all panic and lock ourselves inside!

        • billygoatMEMBER

          ALWAYS ignore govt / private ‘scientific’ data ALWYS
          If report is true about time we see 10000 folk from 36 suburbs not by the hype & refuse CV test #metoo
          Scratch the surface & the BS narrative falls over.
          777 Jackpot Joker:))
          In years to come students will learn about that time in the dark ages of new century the gullible public were PUNKED with CV and surrendered their right to travel, movement, natural breathing and got themselves voluntarily stuck with needle full of mystery straight to the heart (Corona – crown – research)
          War Of The Worlds Mark 2.
          Tav i stock sponsored novelist, film makers, medico, etc will make their personal fortune perpetuating the narrative in decades – centuries to come:))

          • FUDINTHENUDMEMBER

            Is this satire?

            If not.. Let’s say, for the sake of argument, that this pandemic is not that bad. How, when the next serious pandemic hits, do you expect government and human populations to react to that? Will that one also be a conspiracy?

            Ie. When is a pandemic NOT a conspiracy?

            Also, I don’t think pandemic responses and government/corporate overreach need to be mutually exclusive concepts. Clearly there will be overreach and powergrabs in any chaotic situation as the powers that be jostle for position.

            As long as there remains some trust in civil society, we can both deal with a public health issue, AND hold to account the systems and powers that be.

        • billygoatMEMBER

          @fudinthenud
          Yes satire I guess in context of BS Corona / COVID narrative:
          the use of humour, irony, exaggeration, or ridicule to expose and criticize people’s stupidity or vices, particularly in the context of contemporary politics and other topical issues
          I am DEADLY SERIOUS that vira$$ narrative sweeping the globe is BS of the highest order.
          Seems at least 10,000 folk in ‘lockdown’ zones are of the same mind – different hive to yours obviously.
          Its the FINAL COUNTDOWN – HUNGER GAMES – WHEN THE WORLD BEGAN – HUNGER GAMES 1 2 3 – #edumacation indoctrination ad nauseam

        • desmodromicMEMBER

          That is the Barnaby defence for doing nothing. The data is still the data.

          • PalimpsestMEMBER

            Usage of Data in the singular is also correct, depending on context. Data may represent a collection of data. Random House Dictionary: Data noun,
            1. a plural of datum.
            2.(used with a plural verb) individual facts, statistics, or items of information: [e.g.] These data represent the results of our analyses.
            3. (used with a singular verb) a body of facts; information: [e.g.] Additional data is available from the president of the firm.

          • call me ArtieMEMBER

            Hi Palimpset. For me, it’s Shorter Oxford (12 volume) or nowt. Random House? Phht!

        • Les, that’s the funniest one yet. You, counseling others to look at all the data?!?!? Ha,ha,ha. That’s brilliant. Mate, but looking up a couple of conspiracy sites that tell you all the data is cooked does not actually equate with “looking at all the data”. (You sure you don’t read zerohedge?).

      • Arthur Schopenhauer

        It’s prudent to take your science from anyone who refers to people as ‘Dude’. Dude’s that say ‘Dude’ are like so scientific ’Dude’.

      • billygoatMEMBER

        @drt15
        Deary Doctor T 1 5
        Are you:
        Scared you will catch the cold – sorry COVID19?
        Worried about impact of lock down on your finances or your loved ones?
        Never mind…wear a mask, stay at home, shop if you have to, work if you have a job, ‘care’ for folk who need it, walk your dog/exercise, stay 1.5m from the nearest warm bod, get the flu jab don’t make eye contact with anyone….you will survive.
        Still up at night WORRYING???
        Go see your doctor for a mental health plan & join the dole Q for government handouts, see your bank for mortgage holiday.
        My family and I ..we are all good:)
        Yet to know anyone who knows anyone who knows anyone who knows anyone x infinity who has the virus or dead from it.
        Save your tears for fears.

        • FUDINTHENUDMEMBER

          Me brother in laws(Brazilian) best mate died (28 – asthmatic, though otherwise fit), another one is on a ventilator. His mum has lost 2 friends . But yeh we’ll be ok in Oz with the excellent systems in place (lol) and the smart populace who care about their fellow man (also lolz).

          • billygoatMEMBER

            Sure Ya mates mates mates aunties cousins brother in a distant land died

            In Oz with the excellent systems in place (lol) and the smart populace who care about their fellow man (also lolz).
            Sure another 108 cases and police 6:1 locking down public housing estates – soon to be condemned no doubt cos real estate value:))
            Halfwits begging for the military to serve as security guards in a lock down hotel cos they can be trusted NOT TO F*********K the guests in lockdown lolololololololoilolololololololololololololololol
            More halfwits home testing supposedly sticking a piece of plastic deep into sinus cavity up their nose – sure that’ll give pristine results cos #sterile medical conditions THEN leaving completed tests on front porch for collection BUT NO ONE from government collection service picks it up.
            Seriously mate what dr*gs are you on to buy this BS narrative. I just watched with my own eyes & ears OUR ABC reporting this BS. News reader looks like an homogenous uni$exxx mannequin with a script. Hilarious

    • boomengineeringMEMBER

      Angry man,
      You made my day as have been getting loads of sunbaking induced Vit D lately to heal my 8mm hole drilled in my arm. When I told the surgeon was going to get some rays, he was aghast citing
      melanoma, so I had to inform him that a little sunshine prevents it.
      Being high risk over 70’s it’s very comforting to read your reiteration .Btw back to today
      design and make tools for the boneman (bio tech)

      • What’s he talking about, there wouldn’t be enough UV to be risky at this time of the year! There isn’t in Hellbourne that’s for sure.

    • matthewMEMBER

      Would take it one step further and suggest you go onto vitamin D supplements

      • boomengineeringMEMBER

        Matthew, thanks but I don’t pop pills of any sort. For example Vit C tablet will sit in one spot in your gut agrivating the system whereas an orange has bulk and fibre. Before you even see it the benefits start by thinking of eating. Then you see it which incites saliva and readied stomach acids. Heading toward the mouth olfactory nerves induce brain sensations which further confirm readiness, then taste and mastication, more needed saliva
        . The bulk and fibre cleans all your throat and intestinal tract all the way to the anus mitigating cancers on the way.
        An orange has more in it than a Vit C pill, it has in perfect balance many vitamins, minerals and trace elements.
        The most important ingredient in an orange is all the beneficial nutrients and factors that haven’t been discovered yet.

        • You have not been fully informed. Listen to Dr Rhonda Patrick and joe rogan #1474 podcast. Most simply can’t get enough vitamin d in the winter months.

          • boomengineeringMEMBER

            Col, will listen to that later thanks. Being of Wt skin colour I don’t need as much sunlight to absorb D and there has been plenty here lately. This conjecture of needing pills to supply adequate vitamins etc I have heard my whole life and have never believed it, as in nature (my made up religion) they have never been needed and in fact either unwanted or poisonous having to be excreted in the form of dark yellow urine as one example, causing the body to work overtime to do so.

          • I don’t take multi vitamins either probably for the same reason as you. But I think vit d is different especial with Covid around and the huge amount of evidence that it helps. Ie 96 percent of the Covid deaths in Indonesia were vitamin d deficiency.

          • I was diagnosed with severe Vit D deficiency about 6 weeks ago. Apparently about 50% of Canberrans have the problem to some extent as there’s just not enough sun here to produce it, combined with people rugging up in the cold.

            I’ve been taking supplements and it’s made a huge improvement to my well-being.

          • boomengineeringMEMBER

            LSWCHP
            Disclaimer being I’ve had the luxury of working from home and not giving a rat’s anymore, so can lay in the sun around midday. Not today though as it was supposed to be raining so am halfway though lmilling the bonemans job and getting Jack of it as have to quote for 6 more but rather than set up all over again may as well do this part of all of them as the set up is the most time consuming part.
            If you have chronic depletion then go for it I guess, but try the natural when possible.

          • PalimpsestMEMBER

            Boom, I normally don’t disagree with you on anything, but I have reservations about the nutritional content of what we call ‘fruit’ unless it is bought direct and fresh from grower, or home grown. Too much seems artificially ripened.

          • boomengineeringMEMBER

            Palimpsest,
            You’re not disagreeing with me at all, my sentiments exactly, that’s why I razz the missus when she brings home greenish bananas. They used to ripen them with acetylene.
            Anyhow just stuffed the pitch on the last one up, it’s for human bones shaping for robotic/ CNC to hold during process.
            Wish Colin lived nearby as he’s probably a better machinist and my young mate knows he can command $500/hr when on site machining so even for mates rates its not worth it.

        • Stewie GriffinMEMBER

          ” bulk and fibre cleans all your throat and intestinal tract all the way to the anus mitigating cancers on the way”

          A believer in Dr Metamucil !

          • Don’t worry about the bulk and fibre stewie, im sure your bf clears your throat and anus out for you!

          • Stewie GriffinMEMBER

            It is just Terol aka Maggot aka the MB hemorrhoid…. it has been a while since his grub like attributes have surfaced. Must be taking longer for him to gestate a new account.

    • When it comes to epidemiological science things have settled down with IFR between 0.1 and 0.2% with 90% of victims being over 70 and 80% over 75. Also asymptomatic and very mild cases being up to 80% and not very infectious (if at all)

      With this in mind very few of hard measures are justifiable. What’s going in Melbourne atm is crazy.
      What should be done is that aged care facilities should be protected (with options given to those not willing to spend the rest of life in prison like environment) and free delivery organised for people in risky groups if they want to stay at home.
      Others should just be asked to practice measures that prevent large and sudden outbreaks (large gatherings prevention) to make sure health care system works.

      In short, we should go to original ideas about flattening the curve and gaining herd immunity.

      • BigDuke6MEMBER

        Indeed. Because there has never been a revolution here people don’t value their freedom. It leads on to the fact that too many Aussies would sell their own mothers for a buck. Most sensible countries don’t sell off the family silver but not here. It’s a malaise that only the most unpleasant medicine will cure.

        • You are right. I lived on three continents and spend significant time on two more and have never seen so self-centered people like Australians, especially BBs but also people my age and younger down to 35.

          • BigDuke6MEMBER

            Very much so. And life will exploit this. I’d say things really have escalated in the last 10 years. As you say the young are acopic and the boomers especially the males super arrogant. I actually wonder if it was all the priestly kiddyfiddling that doomed that generation so I don’t judge hard. Just shake my head

      • you’ll no doubt be pleased to read that the Australian has just put out an article saying Australia is “being pushed” to abandon lockdowns and go for ‘herd immunity’

        Except herd immunity is BS. Even those with symptoms have been found to have few or no antibodies after only eight weeks. Oh, and it looks like ti did come from a lab.

        https://www.youtube.com/watch?v=TbfvEKE3vKk

        • You should get educated a bit about human immune system. There are 3 known kinds of immunity, beside “normal” antibodies, there are neutralizing antibodies and memory cells. Memory cells make body immune system react in a different way during reinfection, quickly creating antibodies and killing off virus before symptoms even appear

    • PaperRooDogMEMBER

      Yes, Vit D should be very effective given what we know, most likely even can use it as a treatment with the “vitamin d hammer” (was that you who posted the link originally to the research paper?)

  4. Hill Billy 55MEMBER

    The list of 57 amazes me with so many Muslim countries. Add the fact that both Iran and Iraq are on the same side shows how powerful the yuan now is.

    • Where is the downside? The Chinese are putting Islamic in concentration camps. And the islamics are radicalising Chinese Muslims.

      Win – win! With luck they will f up each other real good.

    • working class hamMEMBER

      Exmouth shire council seems very eager to help Twiggy get absolute beach front for his new resort. Whilst diverting a Federal and State Govt funded road onto Twiggy’s land? at what cost?
      One could suggest 1 accident caused by animal strike in 5 years would be below local averages.
      That whole situation screams corruption.
      Such a beautiful place, hopefully it remains so.

      • Mining BoganMEMBER

        But it creates jobs! Twiggy says!

        He says a lot of things though. Not many of them are true.

        • About as reliable as his Chinese CoVid test kits he lumbered the tax payer with.

    • This will have been well sorted before the FBI ‘found’ her and took her in.
      Everyone on the USB stick(s) she must have ( Do we think Geoffrey didn’t capture his guests on video for later use?!) will have been contacted and agreements will have been reached; deals have already been done.
      Maxwell will be well looked after this time, as a carless second time around accident won’t wash.

      • BigDuke6MEMBER

        There will be similar USB sticks in China with Dan Andrews , shaqetelle monseleb etc getting their oats off with some friendly teen that was keen to make friends at the hotel bar. It’s the way it’s done

        • Eh. This is the oldest trick in the book. Our pollies are dumb af but are they really this dumb?

          Have any of these videos ever leaked? Seems like it’s always accusers, never the videos.

          • drsmithyMEMBER

            There will be people who say the videos exist, and even that they’ve watched them, but the content is so terrible that normies like you and me would go mad so we can’t see them.

          • I think the Panama/Paradise Papers hold a more realistic explanation for why we’ve got all this pesky corruption… it’s very easy to sell out your nation when to do so gets you into the super-rich circles via a deposit of some millions into your Caribbean bank account. The Fed prints that money every millisecond. Bezos had a bad day if he didn’t become at least a few millions richer.

            I think that there are elite pedo rings, seems to be plenty of evidence for it, but I’m skeptical about the theory that pollies/celebrities/business leaders are controlled by means of videos or drugs as another theory goes. It can be hard to believe sometimes but these are quite intelligent people and I don’t see how they can all be falling for what’s obvious to me as a pleb who enjoys the odd spy novel. A lot of them are directly briefed by the CIA ffs… they must know some tricks.

          • BigDuke6MEMBER

            Of course they are that dumb!!
            A few drinks for free and off they go
            I have a friend who sells coal to japan like his dad before him and his dad told him not to misbehave or it would be used against him. This guy has high morals and is very smart… so the opposite of our politicians.
            I’ve seen videos on reddit of Chinese teens stroking up politicians at the meetings they are attending with local officials. Not Australian but they would be smart enough to keep it in the hotel room. I’m amazed you are so trusting, quite sweet really

          • Believing people turn corrupt for a few beers seems naive to me but to each their own.

            Like selling your house for a few beers… When you could get a proper price

          • Interested PartyMEMBER

            I’d be surprised if they all choose to play that game. Some do …willingly, others/most may need a little coercion. A party invite, a spiked drink, a provocative girl, a video camera…..what could go wrong. Oh yeah…then the envelope with a few choice images arrives, with details on what comes next if……blackmail works. Some get to like the game. Some were made for the game. A few sold their souls long ago, and anything goes.
            Politicians, Judges, Doctors, Civic leaders…..the list goes on.

          • BigDuke6MEMBER

            Some don’t of course. But seriously, Dan A seems to me a very arrogant fool. He’d seriously think he was charming the cutie as the video recorded away. JFC this is rule 101. You guys need to educate yourself and get reading. Start with moonofalabama and move deeper

    • What I want to know is why aren’t Bill Clinton and Donald Trump being questioned. Is it just that no young women have made any allegations against them, or have those people been disappeared or shut-up with hush money? Donald Trump has form, both in proclivity to perv at teenage beauty pageant contestants and paying hush money…
      EDIT: allegedly

  5. Interested PartyMEMBER

    Just a gentle reminder to start your weekend……
    Ghislaine’s artwork……
    https://tinyurl.com/y6w7rgbt
    Zoom in to see the logo on the cloak of the “piece” …
    Remarkably similar to these?
    https://tinyurl.com/y7dd459d
    …..now……look around you and see if you notice these logos anywhere else……
    example…..
    Flight of the navigator……your kids watch this stuff. Normalising..?
    https://tinyurl.com/y7pbu72e

    tinyurl used as spammy is amped as we all know.

    • In a likely actual conspiracy/coverup –
      https://www.nytimes.com/2019/07/12/nyregion/jeffrey-epstein-dalton-teacher.html

      Bill Barr’s father (Donald Barr) was headmaster at Dalton and hired Eps (college dropout) around the same time.
      Yes the same Trump AG Bill Barr that fired the SDNY AG 2 weeks ago when they suspected they found Ghislaine

      Oh and Donald Barr wrote some pretty disturbing Sci-fi which seems right in Eps wheelhouse
      https://en.wikipedia.org/wiki/Space_Relations

      • Interested PartyMEMBER

        You forgot to mention donald’s dad was a slum-lord
        Don’t concern yourself though……..AG Barr is due to be impeached….soon….real soon.

        • Didn’t take you for a guy that defends Eps and his enablers but there you go. Barr and Alex Acosta both on Trump’s team.
          All the best people apparently.

          The swamp is replaced with the sewer.

          • Nah you can stick to flat earth type conspiracy theories which actually distract from the real cover ups that are taking place thanks to Barr and co.

    • Why thank you ip, for you are such a genteel crackpot. Also play Black Sabbath’s Pigs of War backwards to get the winning numbers of next week’s Ozlotto. (dramatic music …. whoa!!)

      • Interested PartyMEMBER

        So we can take it on your word that none of this is actually real? Step up and call it friend.

        • That doesn’t make sense … why would I call a pedo conspiracy “friend”? … oh, you were calling me “friend”. Very passive-aggressive. Well firstly, ip, I don’t consider you so much as a friend, more a mental fvck-buddy in that when I want a bit of weird I go looking for your latest conspiracy updates. And secondly, as you well know, the best conspiracy theories are ones which are partly truth and partly fiction (to quote from Mr Kriskristofferson). The thing is I gain nothing from obsessing about a pedo ring possibly involving some elites in foreign countries and I have no interest in unraveling what is true and what is not . I do however find it a bit entertaining how you work so diligently at grooming others to your distorted views. As I said, you affect congeniality very well.

          • Interested PartyMEMBER

            And you are the epitome of how and why these types of criminals can hide in plain sight. You give them cover.
            Just as sick as they are….something to hide?

          • Interested PartyMEMBER

            “The thing is I gain nothing from obsessing about a pedo ring possibly involving some elites in foreign countries…”
            Yep….keep that head firmly jammed up your cloaca……”friend”
            https://www.smh.com.au/culture/celebrity/revealed-why-katherine-keating-was-visiting-jeffrey-epstein-s-mansion-20190917-p52s91.html

            Got kids?

            Epstein > clinton foundation.
            Julia Gillard > clinton foundation
            Julie Bishop > donations to …clinton foundation

            crimes against children

          • Everyone has stuff to hide, pilgrim. Can you be a bit more specific, please? If you ask congenially I might be lulled into making a full confession.

            “All the world is queer save thee and me, and even thou art a little queer.”

          • Interested PartyMEMBER

            “I do however find it a bit entertaining how you work so diligently at grooming others to your distorted views.”
            So, stepping up and calling out crimes against children/trafficking/satanic sacrifice….is now a distorted view.
            I’ll leave the judgement to others…

          • What’s important to you then? I mean, considering the subject matter of this site.

            This is as important to me as the manifold other stories of elite corruption. If it’s true then it goes further than the traditional Marxian reasoning and is well worth the price of admission.

    • To the few who might be interested, I think this site is a good introduction into occult symbolism and rituals, and how it is being used primarily in the entertainment industry. Please take a day or so to navigate it:
      https://vigilantcitizen.com
      (When on individual article page be aware that there are quite a few buttons usually at bottom of page that take you to other sites, please stay with the vigilant citizen site.)
      After seeing the repeated use of the same signs and symbols, the only reasonable conclusion you can arrive at, in my opinion, is that this is no coincidence. The rituals are also ancient and go back to pre-Biblical times.

    • out of thousands kids 5 teenagers got infected, probably outside of school by adults and you call that outbreaks among young kind?

        • yeah 23 infected connected to school … so parents who infected kids who go that school

          but article likes to make that underlying assumption is the other way around … that someone got infected in the school which didn’t happen

  6. https://www.abc.net.au/news/2020-07-04/what-are-local-councils-doing-about-rates-during-the-pandemic/12411490
    I’m a public servant (not local government) and fully expect that my salary would fall in line with the average, if the economy takes a prolonged major hit. I know the unions will fight this. I think this outcome is preferable to job losses in the public sector. The expectation should be that wages don’t fall as much as house prices or rents given the asymmetric increase in the last 25 years.

    Partial debt cancellation for owner occupiers should be part of any measures adopted during a major downturn. If the banking system can create debt at will, it should be mandated that debt can also be cancelled when required.

    Also permanent capital controls should be enacted to tax the rich when they shift their money off-shore to tax havens to avoid the consequences of debt cancellation and bail-ins.

    • So refund all past debtors with the same debt forgiven to owner/occupiers today?
      If not, why not?
      The day we start to ‘forgive people their debts’ – for whatever reason and whatever circumstances – is the day that money becomes worthless, and so any mechanism of exchange or the future value of anything ( ie: How much would you pay for a 1 bedroom owner/occupied flat in Mosman if you expected that your debt would be wiped at some stage? $1million? 10 million $100 million? Because the figure put in front of the price is meaningless if the debt can be forgiven).
      Bankruptcy is how we deal with stressed debt. That’s a whole different issue.

      • Housing is a basic human need. Chucking people out of their home, so that speculators can come in and make a killing is not ethical. Wiping out speculators is.

        • DingwallMEMBER

          Housing is a basic human need

          It should be but it is not in Australia…….. why do you think our gubmint helps investors and developers? Apparently it is our economy and you don’t give that away cheaply.

        • adelaide_economistMEMBER

          Not to attack you but it’s interesting that now the wheels are falling off we apparently must act quickly to ensure no-one is disadvantaged. Funnily enough the only response I’ve had to being ‘locked out’ for the past two decades was to be told bad luck, sour grapes, save more or deal with it. But I’m well aware (now) that there is a class of people in Australia who count and a class who don’t and it has nothing to do with skin colour, culture, education or political views and everything to do with whether you are in on the great house debt scam.

          • The proposal for a debt jubilee (as people like Steve Keen have suggested) would be to gift money to those on low incomes who’ve been paying high rents for years so that they can put down a deposit for a home. Those who are having debt forgiven from their PPoR could not possibly argue with that. Investors should lose properties that put them underwater (bankrupting them if necessary). Fully payed up home owners like myself can just wear the capital loss. It really doesn’t concern me. Those who invested early in the cycle also lose as the value of their properties drop, and the rental income is reduced.
            I agree it has been unfair in the past, but this is probably the best way to make it fair into the future. We can’t make right the wrongs of the past, unless you’re expecting public lynchings.

      • Also, if you paid off your home while the economy was booming, you had every advantage – high pay, good job opportunities, etc. If you bought late in the cycle and were young at the time, you were disadvantaged. Why should one generation pay for the good fortune of the generation before?
        I’ve paid off my house and I couldn’t care less if its value fell by 50 or 60 percent or more. I think it is only fair that the debt on any PPoR should fall by an equivalent amount. Let the speculators be wiped out.

        • The people advantaged by the commercial banks ability to magic debt (money) into existence are not the people buying houses, but the people selling houses. This is inflationary. Cancellation of debt should occur in a deflationary period – wages are going down, the price of property is going down, etc. Those who hold the debt (money) in a deflationary period have all the advantage. Much of that debt (money) was gifted to them through the endogenous creation of the money in the banking system unless it was from wage/salary. You’ll probably find that those with the biggest deposits got those savings not from earned income, but from speculating on housing.

      • Professor DemographyMEMBER

        There are more nuanced debt jubilee models whereby every person is given an amount and those with debts must pay down debt before getting and leftover cash if any. Those with no debt get the cash. Still, I think even those schemes should be accompanied by policies that demoralise asset debtors somewhat too. Lest it simply reflates the problem.

        • This is why you should tax away the unearned income of the rentiers, thus making it unprofitable.

    • There’s no reason I can see why wages should fall with the economy. They sure don’t grow with the economy.

      If we get deflation then it’s understandable wages will be cut when to stay still is to grow in buying power.

    • Fck that David. APS is working harder than ever – which stands to reason given the government is now propping up far more of Australia than ever before. No way am I taking a pay cut.

      Also, in the broad, if you insist on cutting staff costs, pay cuts are a dumb move. Cut pay and the most ambitious and employable (ie the ones you want to keep) get the sh!ts and leave. Cut jobs and you get to keep the talent and trim the dead wood.

    • PalimpsestMEMBER

      The new site built in a flood zone, something like a fifth of the space for display, but lots of conference facilities and cafes, with a good part of the collection to be sold off. I’m just relieved they’re not destroying the existing place. I’m perfectly happy to not call it a back flip, or even notice loudly. When the new building turns into the financial disaster it promises to be, at least there’ll still be a powerhouse museum. Although someone still has their eyes on that site obviously.

    • It appears that the current LNP brains trusts (state and federal) have decided (or have nothing better) their only electoral weapons are lies and bribes. How much has already been allocated to community and sports grants ($1 bill plus) for the next Fed election?
      For some reason, they were a bit coy in Holden-Monaro. Perhaps they thought the $2 bill fire money had dazzled everyone?

      • From what I’ve heard, there’s still about $1.95b yet to make its way to the region.

        • Nutty – if what you say is right you’d think that the voters would be after the Libs with cricket bats, shirley? And yet I saw a snippet from an article which I think indicated that the polls are very tight and that the Libs may actually get back (the worst economic conditions bearing down on us in a century and the voters want more of the same).

          • One would think it should be a land slide but likely won’t be. Through the vine heard there are still people living in tents, friends are keeping suicide watch on friends and family, business’s against the wall, kids showing signs of PTSD etc. The choice; vote for Labor and nothing gets done because they’re in opposition or vote for the Liberals in the faintest hope something might get done.

        • Your vine is intact WN, it’s pretty rough in some area’s & even the less affected ones haven’t had it so good. Add Covid…..
          The bush is going to recover before some of the people.

    • Looks like her developer mates don’t think they can sell Ultimo dogboxes for a profit anymore …

      better to keep her in office for some other better times

  7. Rorke's DriftMEMBER

    I was on a video conference for work on Thursday. Large group of Sydney people on an audit risk committee. When one bloke was asked to speak to a matter he opened with “nice to speak with some free people”. Apparently he had to travel down to Melbourne for a few days for some reason and got stuck in a lockdown suburb. He was pissed. Not allowed to leave until 29th July.
    If you believe all the propaganda then he has been trapped in an unsafe place where he could get a death virus and not allowed to protect himself. If you think it’s a large part bullshit overreaction then this guy’s freedom has been arbitrarily taken away.

    Then heard on radio driving home a Victorian politician then then a Vic police commissioner on tv threatening people trying to change registered addresses to escape lockdown suburbs with heavy fines and serious jail time if they dare to disobey. This is healthy people mind you, just happen to live in a designated slave suburb.

    I took some comfort that I live in Sydney and remote from the totalitarian state that I will never be travelling to again whilst current govt is in power, when I heard about the Balmain Woolworths store that is a few suburbs from me.

    A bloke with CV travelled up to Sydney and shopped at the store. Therefore 50 staff have to suddenly “self isolate” which I assume means immediate home detention/lock up. I assume these people also get jail time if that was inconvenient because they had to leave home to care for a sick dependent or whatever. What about all the shoppers in the store or all the people the infected bloke came into contact with in his travels. Once contact tracing takes hold they could lock up a thousand people from one infected person, then a thousand more for each subsequent person who has actually caught it. No redress for any facing lockup from being accused of going shopping at some time you can’t even remember so can’t prove there was no actual contact.

    Where does all this madness end.
    Why are Australians being conditioned to accept police state controls.
    How the he’ll did Victoria become a police state and no one started the revolution.
    It’s almost as if China were influencing government decisions, surely that couldn’t happen?

    I don’t know how to close this rant. I’m sitting in a cafe in the sun writing and all is well if you don’t think about the bigger trends occurring around us. But were does it end, how long do we turn a blind eye to the creeping police state powers, where is the line where we take a stand.

    My political power is limited to ranting on MB, but I just hope enough of my fellow citizens start to wake up in time that we can still turn this around.

    I don’t like the trend we are on.

      • Rorke's DriftMEMBER

        Ronin, this is such a busllhit story. Why do you consider the article to be authoritative. You shouldn’t believe everything you read. You are actually making my case.

        I’ve never heard of “Global news” before, so it makes me suspicious. When I see something like this, these days I think as much about the content as why did this corporation write this and what is their agenda. It’s healthy to be skeptical. The bottom of the article says Global News is a division of Corus entertainment Inc. Ok, who are they?https://en.wikipedia.org/wiki/Corus_Entertainment . Wikipedia says they are a Canadian organisation. They are dominant in Canadas childrens television industry including local versions of Disney products. Have a look at their old logo, used from 1999-2016: https://logos.fandom.com/wiki/Corus_Entertainment. See that symbolism with the swirling “O” in Corus. They love children ok. Do some research on it.

        These people you are taking guidance from and making your arguments are not credible. They are manipulating you. I can’t write what I want to write here in a public forum, but I can tell you this article is propaganda and you need to stop reading this stuff.

        • BigDuke6MEMBER

          Ronin has a brave handle but is a scared little bunny who does what he’s told in reality.
          Your handle on the other hand conjures up images that aren’t particularly in vogue at the moment. Maybe something more suitable to the BLM crowd? How about Dresden firestorm?

          • Rorke's DriftMEMBER

            Agree with your first sentence BigDuke. Not clear what you are saying with the second.

            At Rorke’s Drift a relatively small group of men heroically defended their patch against the invading horde. I thought it appropriate symbolism for the MB comments section.

          • BigDuke6MEMBER

            Well ok , I agree the nuances of handles are wasted around here.
            And RD proved that 1 Welshman was worth 15 ….. opponents

          • Rorke's DriftMEMBER

            Yes IP, I know you’re awake. Once you become aware of this sort of stuff as well as various other symbolism you see it everywhere.

    • Ffs, perhaps you haven’t noticed there is actually a highly infectious pandemic around. If you manage not to get it, it’s because your govt acted quickly to protect you. If by some chance you do get it, you might be very happy you live in a country with A grade medical care.

    • Firstly, If you’re so concerned with your freedoms being impinged because of a virus, then you really need to check out the sh1tfvckery Dutton’s been up to. Secondly this is a virus, not an invasion. If you can’t suspend your life for a couple of weeks because of your false belief in freedoms, then go live in the US and celebrate what practicing freedom has brought them.

      • Rorke's DriftMEMBER

        I can’t believe the reply comments to my post. That even on a site such as MB I can’t question the narrative, can’t question whether there are better ways of dealing with a virus. They are not offering you any medical solution, just lockdown. There’s an argument for national borders to close, perhaps restricted state borders, but a strategy of quarantining healthy citizens with threat of jail time is a very dangerous precedent.

        We have a long history of quarantine in this country and in Sydney there is the historic North Head quarantine station and Little Bay quarantine station. Ships suspected of infections or for small pox outbreaks in particular suburbs or other regular pandemics that occurred in the first 170 years of modern Australia were dealt with by quarantining sick people. And these were genuine scary diseases like small pox that leaves you disfigured. Little Bay was eventually sold off for property development as is Sydney’s way and now we randomly lock up healthy people in this country.

        I don’t want to go live in the US, I want to live in my country with a govt that is acting in my interests. How about trialling some of the promising cures and investing in those.

        • Put simply locking down areas is a blunt but reasonably immediate and effective way of dealing with a virus.There is no medical solution yet but there are plenty of trails and research happening. Australia does not have the quarantine facilities it once did. The logistics of establishing then transporting people to a facility would be slow and expensive. Where would you like to be locked down; an internment camp or home? To some extent we’re already doing that by turning hotels into quarantine facilities. In Victoria this has clearly been an abject failure yet in NSW appears to be working. The Government’s eroding your freedoms anyway, if your going to fight for something, make it worthwhile.

      • Rorke's DriftMEMBER

        Drsmithy, you shouldnt cover what you are posting within a negative slur against others. What you’ve found is important, good on you for pointing it out, but let it stand on its merits. I can’t argue against every govt encroachment within an mb post, I’ll just pick battles one at a time.

  8. Are you brainstorming ? Tell us how that debt forgiveness works for the benefit of all.

    • Where’s the money?
      I must of forgotten to bring it, OK, what’s the gun for?

      ** BANG **

      Forgive me, for I did not know what I was doing.

      • Mate, bankers are meant to be financial experts and should know how much their customers can pay. Home buyers are not financial experts. If bankers aren’t accounting for recessions and downturns then what are they being paid for. Here I was thinking that bankers were meant to be lending responsibly to protect their depositors savings… but apparently no!

    • debts this high must be forgiven because they cannot be repaid and that forgiveness can be done in three ways:
      – world war and new world order
      – hyperinflation
      – debt jubilee

      which one would benefit general population the most?

      BTW. debt jubilee doesn’t need to be unfair if those without debt are compensated

    • Mate, I don’t know how exactly it should be done, just that it needs to be done. Why should the middle class and poor always pay.
      I’ve got Hudson’s book “…and forgive them their debits”, but haven’t read it yet. According to Hudson there is a long history of debt cancellation.

      • David, the way I see it is either those that took out absurdly unaffordable loans suffer or their children grandchildren and their great great grandchildren will.

      • Further to this Mark to Market seems to be a fairly well established financial and account practice. In my humble opinion I don’t see why this can’t be applied to a PPoR….
        in a severe downturn and the difference in debt forgiven.

    • Mate you better be careful. Someone coughed in someone’s face at the pool yesterday and I had to deal with it.

      I did at several stages think ‘ what is this? Primary school?’ But blokes wife is pregnant and he’s concerned (if he’s that concerned I’m not sure why he comes into the pool every day without a mask but I’ve given up on expecting logic and consistency and reasoned behaviour from anyone, ever). The cougher has emphysema and is a bit sus looking with not the best social skills. I love asking people if they feel ok cos someone complained they coughed. The joys, the joy

    • bolstroodMEMBER

      Hammer, Nail , Head MB
      How the Rugby top Brass think they can grow the game when it’s hidden behind a pay wall has baffled me for years.
      If I can’t watch it ( I refuse to subsribe to Murdoch ) I don’t care about it.
      The writting’s on the wall for Rugby, sacking the grass roots staff and talk of hybrid League/ Union games show they are desperate.
      Of all the ideas for rule tweaks they have not considered STOPPING THE CLOCK WHEN THE BALL IS OUT OF PLAY.
      That way the fans get to see 90 minutes of football, not the average 55 minutes they get at the moment.
      But probably the Private School pampered darlings are not fit enough to play 90 minutes.

      • “But probably the Private School pampered darlings are not fit enough to play 90 minutes.” Luckily, rugby is played over two 40 minute periods. 🙂

        But mb’s and your point about free-to-air showings is spot on. I’ll go one further: I actually prefer to watch the Sydney club rugby on the teeve than a lot of the super rugby stuff. It’s always entertaining seeing big fat blokes attempting to put on their moves in broken play. And you do get patches of quality rugby most games.

        • yeborskyMEMBER

          Yep. Manly -v- Warringah is always a treat as a local rivalry but there’s usually some good, intense footy played.

    • See those 2 key players in the melb / rooter game? Former schoolboy rugger players (papenhauzen(?) and keary). Imagine the talent RA have let slip in the last 10yrs

  9. call me ArtieMEMBER

    Regarding MB [email protected] and comment cens0ring. I’ve been researching in some depth around some IT security forums and the like, trying to find some documented reason the word “F!$h” might be a trigger for the MB c3nsor bot. I came up with nothing. Weird. Maybe some kind of learning algo has come up with something spurious just for MB. But that’s not what I actually came to say

    When you are annoyed that your comment goes off into the ether, never to be seen again, contemplate our good fortune that we virtually never have to put up with the [email protected], tr0lling, advertising innundation, social-media influencers, ph!sh!ng attacks etc that virtually ruin many well-intentioned forums all across the interweb. I believe it’s a small price to pay for what is really a very well-functioning, on-topic forum

    Anyway, as BurbWatcher has said several times, it you intend to write a serious comment, copy and save it in a text editor before posting. Saves a lot of grief and you can review it to work out what might have triggered the bot

    The bot is actually your friend, the inconvenience is low, the benefit is high

    • Have you got any suggestion on how to deal with the comments that have been posted successfully but later removed manually for whatever (opinion different to MB) reason?

      • call me ArtieMEMBER

        Sorry. I take your point. It’s their website, I guess. Has not happened to me and I see a lot of pretty strong contrary opinions getting through in comments

      • Interested PartyMEMBER

        Use wayback machine and get it archived. At least then you can repost it under a pseudonym if you get banned…..if the post is important enough. Censorship sucks….but it happens.

      • Treat posting a differing opinion like stroking an agitated cat… do it very gently… don’t let on that you feel strongly about it.

        You can get your kicks when it’s time to agree, then you can go as hard as you want.

  10. The Neoliberal Looting of America

    The private equity industry, which has led to more than 1.3 million job losses in the last decade, reveals the truth about free markets.

    “It’s hard to separate what’s good for the United States and what’s good for Bank of America,” said its former chief executive, Ken Lewis, in 2009. That was hardly true at the time, but the current crisis has revealed that the health of the finance industry and stock market are completely disconnected from the actual financial health of the American people. As inequality, unemployment and evictions climb, the Dow Jones surges right alongside them — one line compounding suffering, the other compounding returns for investors.

    One reason is that an ideological coup quietly transformed our society over the last 50 years, raising the fortunes of the financial economy — and its agents like private equity firms — at the expense of the real economy experienced by most Americans.

    The roots of this intellectual takeover can be traced to a backlash against socialism in Cold War Europe. Austrian School economist Friedrich A. Hayek was perhaps the most influential leader of that movement, decrying governments who chased “the mirage of social justice.” Only free markets can allocate resources fairly and reward individuals based on what they deserve, reasoned Hayek. The ideology — known as neoliberalism — was especially potent because it disguised itself as a neutral statement of economics rather than just another theory. Only unfettered markets, the theory argued, could ensure justice and freedom because only the profit motive could dispassionately pick winners and losers based on their contribution to the economy.

    Neoliberalism leapt from economics departments into American politics in the 1960s, where it fused with conservative anti-communist ideas and then quickly spread throughout universities, law schools, legislatures and courts. By the 1980s, neoliberalism was triumphant in policy, leading to tax cuts, deregulation and privatization of public functions including schools, pensions and infrastructure. The governing logic held that corporations could do just about everything better than the government could. The result, as President Ronald Reagan said, was to unleash “the magic of the marketplace.” – snip

    https://www.nytimes.com/2020/07/02/opinion/private-equity-inequality.html

    It really is amazing that after all the time since the GFC some are still confused about the state of everything when the history behind it is so clear and easily fact check.

    • bolstroodMEMBER

      Thanks Skip, it does my old Socialist heart good to see the truth laid bare.
      I wonder what the elites will come up with next ?

    • GunnamattaMEMBER

      I reckon the only neolib hope (and it may not be much) from here is to generate massive public spend

      I would have thought the easy peaceful way to do that is point to global warming and mitigation – probably even further into geo engineering and the like – start fronting the projects and issuing contracts (which the neolib interests happen to sign and reap public subsidized profits from).

      The unfortunate way to do that may be to start becoming more bellicose vis China and start firming up on the idea that after a generation of stripping out economic redundancy (in the name of profit for the 1% set) start building it in (and buttering up gigs for the 99% set). The risk with this is that thing get out of hand, and you need the threat to be credible (in order to justify the spend). Well it would appear that we now have credible

      Either way I suspect a large flood of humanitarian refugees from China is in the offing – and in Australia will probably be used to bolster abode prices rather than anything economically meaningful……

      ……..But I do find myself wondering how Australia could be completely transformed if we could somehow organise to shunt large volumes of water down the Darling, or even come to terms with the idea that anything other than real estate speculation is worth a try.

    • Stewie GriffinMEMBER

      “Neoliberal”

      Chortle!

      Say’s the blind man feeling the elephants trunk, “This beast resembles a snake!”

    • “It really is amazing that after all the time since the GFC some are still confused about the state of everything when the history behind it is so clear and easily fact check.”
      Indeed.
      Point me to where in the period that you mention we ever had free markets? Certainly not during and after the GFC when governments captured by central banks started picking winners and losers, even worse now. Crony capitalism doesn’t work out well for the majority of people, nor does crony socialism. Big government is obviously a major problem in both cases and precisely why both always end up being crony. Who else has the power to conjure ‘The Law’ and has the monopoly on violence in case of non compliance. Anything that has the potential to grow too powerful has to be kept in check, as humans in general are easily corruptible and wont to abuse. Especially the miscreants that works in government as most of them would have no chance of ever earning an honest crust outside of it.

      “When you see that in order to produce, you need to obtain permission from men who produce nothing – When you see that money is flowing to those who deal, not in goods but in favours – When you see that men get richer by graft and by pull than by work, and your laws don’t protect you against them, but protect them against you – When you see corruption being rewarded and honesty beco(ming) a self-sacrifice – You may know that your society is doomed.” — Ayn Rand

      • I can’t help thinking that the Ayn Rand quote must be taken out of context, but geeze, it’s apropos…

        • If I have an interest in a subject, even if I have a certain antipathy to it, I always try to go to the source instead of simply seeing what Wikipedia says. Not saying you, LeMon3 do that, but a lot of people do, and in doing so they miss out on a lot of original content, by just following other peoples opinions.
          In the case of Ayn Rand, I have only read ‘Atlas Shrugged’, and I found some of it quite appealing. Rand came to the US fleeing the Soviet Union at the beginning of the 20th century and, in her own words, was aghast at the way socialism was being implemented in the US. You can find interviews with her on YouTube if interested. She appears to be a stone cold b***h.

          • Yeah, there’s a copy of that on the bookshelves here too. I’ve never managed to read it all the way through, I find that sort of turgid prose just too difficult. I far prefer easier to read books like Byron and Fuller’s “Mathematics of Classical and Quantum Physics”

          • Haha! Good on you.
            As a novel I found it awful. But as a book of ideas and views on society it found it to have some merit.

        • drsmithyMEMBER

          I can’t help thinking that the Ayn Rand quote must be taken out of context, but geeze, it’s apropos…

          Yeah, but while normal humans would use something like it to justify cracking down on, say, corruption and rent-seeking and benefit everyone, someone like Rand or her followers would use it to justify why businesses shouldn’t have to follow environmental regulations or provide safe workplaces to benefit themselves (and everybody else can GAGF).

          • True Smithy. Problem being not enough can yet see what’s going on even though a lot aren’t happy & feel something’s not right – it’s such a purposefully difficult quagmire – all too hard. If we had an actual functioning, querying 4th estate that informed facts & not their corporate propaganda narratives backing the bull, it might’ve helped.

      • drsmithyMEMBER

        Point me to where in the period that you mention we ever had free markets?

        It would help if yous could point us to any time, ever, that had “free markets”, or define what that means.

        Because the reality is that the only actual “free market” is one without any Government involvement at all. So no property law, no contracts, no courts, no monopoly on enforcement and violence, nothing.

        Everything else is a disagreement about what market constraints are justifiable.

        • A market is a form of regulation – implemented by government. All markets are equally free, but not all markets are equally simple, fair, or competitive.

          • Part of the drama is libertarian free market proponents only read the invisible hand part of Adam Smith or do a Jefferson’s bible on it.

        • “Because the reality is that the only actual “free market” is one without any Government involvement at all. So no property law, no contracts, no courts, no monopoly on enforcement and violence, nothing.”
          Nonsense Smith, even your goto Oracle Wikipedia has a much more nuanced view. Because I know that is where you get all your facts, I already checked for you to make sure.
          When I say free market I am talking about free market capitalism. It would be good if we could get some of that back. It wasn’t even that long ago that we had more of it. Yes, free market taken to the extreme means globalisation, which as we have been finding out for a long time now is not working well; except for the internationalist finance/corporate class. But again, this could only have happened with the continued support and approval of the ruling pollies then and now. I get that sometimes tariffs are needed to protect industries. We have to be sensible about the ownership and use of common good like resources and (strategic) infrastructure, utilities. It would be good to go back to being more self-sufficient and independent as a country. Have an internal (free!) market that provides what is needed here. It would be a more diverse and balanced economy, able to better withstand financial crises and shocks like we have now. It seemed to have worked very well before, yet here we are in a quagmire that is going to take a long time to unravel, if ever.
          My beef with you is that you seem to think more government is a good thing, I am of the opposite view. And as you can read daily on this blog, it usually doesn’t turn out well to let people with sociopathic tendencies run a country. To me a government that micromanages and tries to regulate everyday life is suffocating and oppressive, and in the end mostly a waste of time and valuable resources that can far better be used elsewhere.

      • Exactly, we (I) need to keep it in mind that rarely are people wrong thinking at every level. Nor are they right. Especially me

    • SweeperMEMBER

      “It really is amazing that after all the time since the GFC some are still confused about the state of everything when the history behind it is so clear and easily fact check”.
      reverse statute of limitations applies: If after 12 years from the GFC people are still blaming and focusing on anything but neoliberalism, then there is something else happening imo. Most likely inability to come to terms with their past positions during the neoliberal hype period of the 1980s early 90s when the doctrine spread outwards to the softer social sciences and into journalism.
      I clearly remember in the 90s having discussions with self identified progressives who would be all over every issue relating to US foreign policy, right wing take-over of history, urgent need to become a republic, individual rights.
      Yet you ask them:
      Why should we cut taxes – “it’s inevitable, the rich just won’t pay otherwise”
      Why destroy manufacturing? – “it’s inevitable, globalisation”
      Why allow capital inrush? – “it’s inevitable, globalisation”
      Why reduce government spending? – “inevitable, see tax cuts”
      Why deregulate banks? ” inevitable, globalisation, growth, competitiveness, growth, competitiveness, growth, inevitable”
      Why privatize state assets? “inevitable, it’s not the 1950s, get with the times”
      Why target inflation? “don’t know, but it’s probably inevitable – my economist friend said so”
      Why destroy unions? “inevitable, globalisation”
      etc. etc. etc., yet they could go for hours on this or that faction or tendency within the neoliberal consensus afterall they were still team progressive. They believed in… something. And neoliberalism was just like the solar cycle, it just happened, and would happen even if the progressive academy and journalism didn’t collaborate.

      Everything they said was wrong and was known to be wrong at the time. No the world didn’t change – fiscal policy was always just as potent as it had been in the 30s, the rich can’t just up stumps and move overseas to avoid tax when their local network is their most valuable asset, capital inrush has never been easier to control (see Malaysia during Asian crisis), manufacturing, textiles didn’t have to be killed off, inflation targeting was known to be a dud etc. etc.
      It was all known at the time. it is just the evidence is now in. A system which subordinates everything to “growth” and the “economy” only suceeds in wrecking everything of value, and gets weak growth and crisis anyway. This is still playing out today as the neoliberal hardliners prioritise growth over public health, and end up making both worse.
      imo. this quote from Robert Lucas is still the best example of the real time stupidity of neoliberalism:
      “Of the tendencies that are harmful to sound economics, the most seductive, and in my opinion the most poisonous, is to focus on questions of distribution”.
      As though you can model the production of stuff independent from who controls it and who collects the dividend.

    • Pfh007.MEMBER

      LOL – the CBD business interests are getting started early on their “scare everyone back to our rapidly depreciating commercial office space assets” campaign.

      Talk about loony.

      Judging from the open spaces around me – people are getting out and doing a lot more exercise now they are not stuck commuting for 10+ hours per week.

      • Soon they’ll graduate to the way of all Aussie mates involved in dying industries, and start trying to pass laws to force the use of office space, or find a way to sabotage our internet even more to curtail teleworking, or whatever other despicable schemes which enjoy support by 90%+ of politicians.

        • The Traveling Wilbur

          You Sir/Madam/Not identifying have been paying attention.

          Not that I want to give them ideas… but at some point someone is finally going to remember that there is council zoning of premisses. And if you start working from one, it doesn’t really matter whether or not you’re pushing bits, working for yourself, or someone else, or running an ad hoc panel beating operation from your carpark in your apartment building.

          So WFH ‘limits’ are fkcn inevitable. In this country. The leverage to enforce them is already in place.

          • Pfh007.MEMBER

            Yes – the Day Trader (the original pioneers of WFH in trackies) detector vans are ready to hit the road.

            The new technology is so sensitive they can detect a short trade at 100 metres.

            As for those trading with leverage they just wind down the windows and listen for the screams.

            🙂

          • Pfh007.MEMBER

            “.. .. Those shorting the AUD must be the easiest pickings. And Tesla….”

            Yes, no need to even wind the window down.

    • Lol susan….

      Looks like the typical white female after shes gotten comfortable in marriage

  11. Nearly ran into a delivery driver on a Pizza Hut bike last night. He went straight through a give way sign and I had to brake suddenly to avoid hitting him. He gave me a smile and a head wobble and let me drive past him.

    • Glad One of you was alert and you missed him. Avoided a lot of strife and heartache.

  12. Goldstandard1MEMBER

    OOOf 108 new cases in Vic.
    2 more postcodes added to existing list of quarantine. …….and 9 commission building towers in total lockdown. That will not be received well.

    • The Traveling Wilbur

      As long as the party favours can still be delivered via zero contact Uber eats services I don’t think it’ll be too bad. Can’t see anyone bi1chin’ too much about no work come Monday.

    • Arthur Schopenhauer

      The depressing part is the Liberal opposition are, on the face of it, more corrupt. Where to put your vote?

      In my state seat, it’s lib, lab, green along with an assortment of happy clapper anti-abortionists. We will have to find a decent independent to run. Just the thought of spending 4 years sitting with that pack of self serving thieves would put any decent, clear thinking person off.

    • People no longer taking any precautions. This will hit harder than the first wave. Everyone, brace yourselves.

      • I agree , the roads are full, the shops are packed. As if there is no pandemic or a recession for that matter.
        I don’t get it, I’m out for work…why all these people are out ? How come it was so quite in April?

      • Failed Baby BoomerMEMBER

        Ho Hum. Let it run. Wake me up when the ICU occupation is 50%, then lock.it.down.
        This virus is not going away.
        The vaccine is 18 months away.
        Herd immunity is natural target and stable situation.

      • Yeah just the same way CCP doesnt have the resolve to shut down wet markets and wild life trading.
        Plus the days of western world having to worry about such diseases ended with polio i think in the western world. It has gone full circle that you now have anti vaxxers because people have just forgotten and arent really used to needing patience.
        Having said that, the model now in the western world is stamping out the practices that even start such diseases.. wildlife trading and quarantine is pretty strict for food related items. The issue is now you have the third world like Africa and China who still have the practices of close association with wild life being able to climb on a plane and arriving in any first world country within hours. That juiced up migration from these regions with only a focus on preventative measures (not management measures once you catch it) has proven to be an Achilles heel for the western world.

          • I dont know, google is your friend. I think there is some documented evidence that it existed in ancient times… it wasnt a modern virus anyway even during its time. Probably not going to be easy to tell given its age.
            And actually, I did skip over HIV since polio as being a threatening issue also in more recent times. I think over time like those two, we’ll find a way to live along side this virus, either with a vaccine (unlikely) or like HIV (which is managed by testing for those entering country from at-risk countries and with medication that means it’s not a dead sentence these days)..

            Probably can expect to be more like HIV with this one: extensive testing with at-risk countries to continue longer term for wuflu and then, medications developed so it’s not a deadly disease and ability to manage long term effects.. maybe?

        • Arthur Schopenhauer

          The ‘Nature’ podcast had a great discussion on why Taiwan, Singapore and Japan have done so well on infection control.
          Worth a listen.
          It comes down to SARS-1 being a wake up call, and the senior people of every branch of government and business taking it very seriously. Every year they get people together to ‘game’ a bunch of scenarios.
          We do that too, but the participants are relatively junior and have no power to effect any change.

          • Yeah well, when you build your societal model around minimising the avenues by which these diseases originate, you then don’t have to invest in yearly drills managing it when it breaks out, because your investment is skewed in snuffing out the wild life trading and handling. The problem is, the big globalisation people fail to recognise the risk they impose on the rest of the society when the door is opened to those countries that don’t have the resolve to stamp out the origins of these diseases.
            The flip side is, if we do let immigration from these countries into ours, we need to acknowledge that there needs to be a massive amount spent each year to run these simulations like Taiwan etc have and manage the risk. That way, we will be ready when the next virus comes.
            And more viruses will keep c0ming, this is not the last. CCP didnt learn from SARS, they’re not going to learn now. Instead CCP’s way is to buy out WHO and have them say to the world that a few thousand livelihoods that the wet markets support is important enough to let the practise continue… It’s like, how dumb do you have to be to not see the writing on the wall?? So you can already tell they haven’t learnt anything from this.
            As the comment above, it all comes to resolve.. some countries don’t have the resolve lto legislate these practices and stamp out the origins of these viruses.. So if you are going to accept their humans freely travelling, you need to invest in managing this risk and then you’ll be ready for it when it comes. See how much CCP squealed when they were the only ones dealing with this back in Feb and borders were shut? Imagine if that was the norm…
            Frankly, this is all a bit annoying because it’s taking the western world backwards. We are supposed to have moved on from these diseases, the third world keeps dragging us back. Shut the door already and with the next virus, the problem solves itself.

    • C.M.BurnsMEMBER

      And 50 passengers per plane.

      Assuming each airline isn’t prepared to run each flight at a loss, that’s 50 VERY expensive tickets

    • I think there must be a lot of people here who like to f!$h and are just itching to talk about their favorite pasttime. It has never appealed to me, so I’m not concerned.

  13. tripsterMEMBER

    CoreLogic posting some ridiculous preliminary clearance rates today. For Sydney they are reporting a preliminary rate of 69%. Get this, 558 total auctions, 336 reported (218 not reported). Only 125 sold at auction with 124 sold prior and 3 sold after.

    I really hope Leith doesn’t post the headline “clearance rates surge” on Monday. Doing so would make this website no better than any of the numerous RE spruik pieces out there. The underlying numbers are incredibly weak. 125 actually sold under the hammer at auction FFS.

  14. Covid-19 small business collapse tale number xxxx:

    Dude is a drug dealer and business is consistent and enough to turn a profit. Covid-19 shows up and the bikies who are supplying him are calling in debts to shore up their own financial position. Dude owes $45k. Dude does not have $45k. Bikies come over grab his motorbike, PlayStation, tv, and anything else that may have some value. That does not add up to $45k. Dude is given 24 hours to leave town. Dude leaves town.

    I couldn’t tell you if that has hindered the supply chain but it is an interesting take that probably won’t show up in the stats.