Links 14 August 2020

Global Macro / Markets / Investing:





Leith van Onselen
Latest posts by Leith van Onselen (see all)


  1. migtronixMEMBER

    “No HELP: Uni students who fail half their subjects to lose taxpayer support – The SMH”

    They don’t get taxpayer support!!! It’s all paid back you lying pieces of s&#^

    I hate Liberals. How much do these f#@&^ blow on FHBG?? Much more than a couple of degrees…FU

    • “They don’t get taxpayer support!!! It’s all paid back you lying pieces of s&#^”
      A significant number do not pay it back, and a significant number rack up significant debts failing subjects that they should never have been admitted to by greedy universities.

      The measure helps students and tax-payers. What kind of benefit do you think there is in subsidising continually failing students?
      Note the changes allow for a student to change courses or continue to receive support if there was a temporary reason for their poor performance.

      • migtronixMEMBER

        “A significant number do not pay it back”

        Sources please, and from the ATO not IPA.

        • China PlateMEMBER

          They don’t get taxpayer support!!! It’s all paid back you lying pieces of s&#^

          Its ALL paid back?
          hyperbole or jest?

          • migtronixMEMBER

            Go deal with the ATO and see. I paid for every unit I repeated with interest! So I know for a fact it gets paid back.

          • migtronixMEMBER

            Did I mention its the same Liberal c#@% faced turd bags that blow billions on FHBG they get precisely zero back? FU

    • reusachtigeMEMBER

      You need to join the Labor Party! There’s a commie on here who labours as a plumbers assistant removing stools from blocked pipes who will sign you up!

      • ErmingtonPlumbingMEMBER

        Assistant!,…its Fully licensed Plumber, Drainer and Gas fitter, removing those stools, thanks very much.

        • Just weighed myself. Damage not too bad after 5 months in front of the computer.

          Not great, but not as bad as I thought.

          I won’t need that rag on a stick to clean my bits quite yet.

    • wife said not to buy some more when it was back at $34. oh well, serves me right to ask.. it’s looking to get back to 40 today it looks, or 32.00. neither would surprise me.

  2. pfh007.comMEMBER

    MyRBA: Letting 100 monetary flowers bloom

    One question that has been asked about the MyRBA proposal is whether introducing MyRBA risks creating an oppressive “state” money monopoly that a big socialist government run by elites might use to deliver the policies they think are best for the little folk.

    Nothing could be further from the truth. MyRBA is about allowing a hundred monetary flowers to bloom. The public money will be forced to compete for users. As for the size of government, MyRBA is consistent with whatever size of government the public prefers. It will work well with small night watchmen sized public sectors and also Scandinavian cradle to grave safety nets.

    What MyRBA will do is bring to an end to the “cartel” model where a private industry (the banking industry) have effectively privatised much of what should be a public power to create public money. However restricting the power to create public money to the democratic institutions of the public does not mean that private money must be hunted down and eradicated. Ironically, that is what our current neoliberal private bank / state cartel model considers to be an important priority.

    Once the power to create public money is fully in public hands and millions of Australians are operating MyRBA accounts, public money will compete with a multitude of private and foreign monetary systems. The public will be free to vote with their feet if they think that their public monetary system is badly run or cannot be trusted.

    • Murdoch the Maker

      They will never let it happen they need to control the carrots you will get it someday pavlovs dog

      • pfh007.comMEMBER

        There are a lot more of us than them.

        The first step is getting a solid number of people up to speed on how the scam works.

        There are lots of monetary fairy tales to dispel and plenty of disinformation being disseminated.

  3. CHINA …

    Chi­na’s Bank­ing Reg­u­la­tor Fore­casts $331B Surge in Dis­posal of Non-per­form­ing Loans in 2020 … China Banking News

    … via Interest Co NZ Breakfast Briefing this morning …

    … extract …

    … And they have financial contamination too. Their top banking regulatory official said that the country’s banks will have to deal with ¥3.4 trillion worth of non-performing loans in 2020. That is up almost 50% from 2019 and the value of bad loans could be even higher in 2021.

  4. NEW ZEALAND … how the RBNZ is wrecking the housing market …

    Housing market on a high with July’s sales at their highest level in 5 years – REINZ … Greg Ninness … Interest Co NZ

    … thanks to RBNZ Governor Adrian ‘Bubbles’ Orr …

    House buyers still stretching their debt-to-income levels further … David Hargreaves … Interest Co NZ

  5. Arthur Schopenhauer

    The ‘Gig’ economy, spreading job insecurity from California to the rest of the Western world:
    ‘Uber would likely shut down temporarily [in California] for several months if a court does not overturn a recent ruling requiring it to classify its drivers as full-time employees, CEO Dara Khosrowshahi said.’


    Here’s the main issue with the “let it rip” brigade. You’re assuming your health workers are going to stick around to help.. Many won’t, and we wouldn’t get adequate care for this disease or any other malady.

    I told my hospital I’m not willing to work in a Covid ‘red zone’. Doctors aren’t being protected in Australia

    • Nursing etc won’t have a choice. It’s part of the job.

      Doctors if they’re salaried I suspect won’t have a choice, except to resign.

      Not sure how VMOs will be handled.

    • migtronixMEMBER

      Hospitals deal with sever respiratory infection all the time. It’s the GP clinics that aren’t geared for it.

      • The hospital staff don’t end up in ICU or dead because of it though. Little bit of a difference from anything since TB was conquered.

  7. innocent bystanderMEMBER

    Virgin Australia called the ABF and asked for a list of passengers who planned to take a flight with the carrier.

    For all concerned, this was a very untidy episode.

    The assumption that responsibility for stopping passengers board aeroplanes lay with others was pervasive — governments and airlines looked to Border Force but Border Force said the power was with airlines.
    Yet critical information was not shared with airlines to allow that power to be exercised. And when that information was shared, it was all too late.
    Six months after the Ruby Princess docked in Sydney, a formal process for sharing passenger manifests with those who need them has not been established.


    … In case you missed this outstanding video presentation by Martin North late January, at the time of the release of the 2020 16th Annual Demographia International Housing Affordability Survey …

    Housing Affordability Sucks. … Martin North … Digital Finance Analytics / Youtube

    Martin North outlines the important political developments in New Zealand to restore housing affordability.

    The 1st and 3rd Reading speeches on the now passed Infrastructure Funding and Financing Bill by Urban Development Minister Phil Twyford are essential viewing too … to get a sense of the breadth of the structural reforms underway and the broad political and interest groups support …

    Infrastructure Funding and Financing Bill – Hon Phil Twyford – First Reading – Video 1