Sunday Supplement: 20 September, 2020

‘The Hikers’ 1957, James Cook, Art Gallery of NSW

Macro & Markets

Americas

Asia

Europe

Terra Specufestorus

…and furthermore…

 

Latest posts by Gunnamatta (see all)

Comments

  1. Bought the book after watching Martin Norths interview tonight – Just Money: Misadventures in the Great Australian Debt Trap by Royce Kurmelovs

    Already smashed halfway through it and have found it very interesting and informative as an older millennial

  2. Australians are so f ing stupid.

    You’re restricted from overseas movement (unless you’re rich enough).

    You are detained on arrival in your home country and jailed for 14 days and forced to pay for it. (Only applies to citizens because the legal advice was contrary to the f ing Geneva convention regarding detention of diplomats FFS lol)

    This covid thing is seriously all about the 5 eyes governments testing their powers. Australia is at the forefront.. as always with this type of oppression. Victoria decided to take the baton and lead the way. The rest of the world is either laughing or horrified at Australia.

    What is wrong with Australians? Probably the salaries are too high (on a good thing) and debt levels too great (fear of losing shelter) to complain. But, then again, Australia is the land of f wits. An entertaining human experiment in the least.

    • it’s this kind of [email protected] conspiracy theory that will let the ponzi fire up again with full support from the broken Trumpettes. USA and UK show the neoliberal model – no problem if citizens die because you’re all replaceable anyways. distract you with freedumb so you all cheer on the turning of the screws to get back to a more extreme version of the sh1stem that was screwing you all along. full throttle over the cliff

      • Sorry MR, but you are blind.

        The elites are free to do as they please still. More so now. Covid has given them a free run.

        As well as that, foreign “investment” and Chinese buyers of RE has not abated due to covid. Only citizens have been disrupted.

        Open your eyes and think for yourself. Stop reading the MSM lies. The Ponzi is in full swing and has not only just had the record stimulus injected into it but is primed to have the greatest intake of immigration and foreign investment (CCP) in Australia’s history in 2021 thanks to some BS virus.

        • Arthur Schopenhauer

          If you live in Europe, as you have previously claimed, how do you know the Ponzi is still in full swing?
          There are a large number unsold townhouses in our neighborhood. 6 months ago there were white mini buses of OS buyers touring the properties for sale. Literally white mini buses. Now there are none.
          What you are saying does not match the on the ground reality around me.

          • I watch sold prices on one of the duoploly Australian websites.

            I also hear anecdotal evidence from friends and family. Mainly NSW.

        • noone is more anti China than the 5eyes agencies. It’s the politicians trying to keep the big donor’s happy that are keeping us glued to Xi. A little clue, the Palmers of this world aren’t on your side…if you find yourself on the same side of the fence then you’ve been duped like a chump

    • I don’t know what other country’s citizens would tolerate what Australian citizens are right now.

      The only other country I can imagine is China. Perhaps this is simply a dry run directed to the federal and state leaders of terra incognito (useful idiots or worse) to see how the dumb masses and police forces handle things.

    • The Spanish flu killed circa 50m mainly young healthy people (today’s equivalent is about 200m).
      COVID has killed 900k, mainly people in their mid 80’s with an average of 2.7 co morbidities.
      You have more chance of dying in a car accident if you’re under 60 and for this we have imprisoned populations with curfews and lockdowns.
      You can’t leave or enter the country.
      Police patrol the streets and beat and pepper spray mums dads and grannies who dare to venture out of their ‘cells’ after totally failing to deal with gangs and real criminals.
      I agree. How can people be so stupid as to think that this is about a flu virus and that this draconian response is justified by a negligible mortality rate or that somehow this virus will magically disappear.
      Oh, and don’t forget ‘flatten the curve’ that it was sold on with ludicrously wrong modelling.
      By the time enough people wake up to their own stupidity it will be to late.

      • I struggled with this paradox for a long time, but the obvious explanation is: legal liability. Business owners are fearful that if a customer or an employee dies from covid-19 after getting infected in the workplace, they will be sued. But, if the same happens with any other disease, they would not be sued. This explains, in particular, why the universities are closed even though almost all the students are young and healthy.

    • Australians are f**king stupid, meet on square / part on level so will fully ignorant or complicit – participating as directed by lodge:) Overheard parent saying to a toddler 7.45pm Saturday night… “got to get home…better hurry up or police will get your
      The sheer number of mugs parading proudly in bespoke mask & hospital variety when out in a fresh bayside southerly is truly staggering. Hospital PPE the new high vis:))

      • Thats grim – starting the convict mentality from a young age – what chance do the kids have?

        On a funny note listened to Jo Rogan talking about Biden…
        “Like going for a long walk in a scary forest at night holding a torch who’s battery is running out….”

    • OTOH, what Sweden did not get right (well for normal humans):

      “Despite Eva’s severe breathing problems, she did not receive oxygen or was taken to hospital, says her daughter Catharina Alinder.
      – She was slowly suffocated to death before our eyes, says Catharina.

      – They let mother lie for so many hours without oxygen, and are tormented to death, without getting into hospital.

      – They said that “we do not send your mother to the hospital she is too old”. ”

      https://www.expressen.se/nyheter/coronaviruset/hallaans-sorg-mamman-dog-i-misstankt-corona/
      Translated –> here

      By the looks of it, all the elderly and weak are already dead and some have succumbed to Covid outside the official count (a statistical success?).

    • Friendly is just saying what everyone is thinking. Renting out Balilaro’s expensive airbnb to film his latest observations was brilliant. I see now that Barra is having a big sook about it all and taken a month off.

    • Arthur Schopenhauer

      Good on the Jordie. Sounds like both sides are terrified of someone, anyone of us not in the mates club, shining a bit of sun light on their corruption.

      And what a house for a relations party Bloke?! Surely you have booked it for a few long weekends?

    • I’ll pay him this one because the Nats need to be wiped from the face of the planet for the corporatisation of rural Australia.

      Can’t stand the bloke otherwise and his cringey Labor cheerleading. If he went as hard as he does on the ALP as he does on the LNP (other than his usual tactic of “They’re both bad hey but at least Labor”) I’d give him the time of day. Had to clear my cache during his Rudd interview as I thought he was going to get down and suck Kevin off 5 mins in.

      Neel Kholkatar is much better in my opinion because he gives out in equal measure to all sides. Just my 1 cent opinion.

      • Stewie GriffinMEMBER

        Yeah – he’s a lefty, but I got no problem with that. I share many of his views in some regards and absolutely none in other regards, but in the market place of ideas it is good that more are getting hear him – I particularly liked this this comment: “On the question of why his content appeals to young people, he said “because I’m not The Sydney Morning Herald”“.

        For too long progressive twats control the narrative in the msm, and any voice but theirs at least helps crowed out a little of the SMH and ABC’s toxic social views that impact mainly young people and the working class. If he brings real political and economic issues to the line of sight for young people, in any way over, then at least he has brought about the possibility for a genuine conversation to take place.

        It sure beats the MSM approach of some BS story on the detection of new trace amounts of rac!sm or discrimination, or some new gender they’ve ‘discovered’.

        • Sure, agree with most of that. In my view, the real test for these guys is broaching immigration and multiculturalism. Like Betoota he goes nowhere near it, save for agreeing with Karen Keneally’s reduce temporary but increase permanent sleight of hand and the usual refugee noise.

          Happy to be proven wrong but until those subjects are properly discussed outside MSM gatekeeping by Domainfax and the fake conservatives at Sky, I’ll remain sceptical.

          • Stewie GriffinMEMBER

            It doesn’t bother me that people as individuals support migration, MultiCult, refugees or whatever. But it infuriates me that these are the ONLY policies that our msm and govt institutes support and promote.

            Jordie is more than entitled to voice his opinion as an individual and although I don’t agree with his views on those subjects I’m not going to condemn him as an individual for getting off his backside and promoting the views he supports.

            If he worked for the ABC or SMH, and was given their platform to promote his views (which are really their views) then I’d really be pissed and want him the phuck out of my face.

      • Lol @ this bit..

        One Labor campaign strategist, who asked not to be named, said Shanks’ “nasty” style was starting to cause concern inside the party in NSW. “The stuff he has done with John Barilaro is racist,” the person said. “My recommendation to people is to stay away.”

  3. Gunna Good work, excellent effort.
    I am always interested as to how you guys are interested in the GC updates, but the friendly jordies story tells it all:
    NSW Shooters and Fishers MP Helen Dalton, who recently appeared in a friendlyjordies interview,
    said she did not always agree with his style or content – but it cut through.
    “They are the ones coming out to regional areas and asking questions.
    We’ve seen the demise of our regional TV news,
    our papers are doing it tough and we are having less and less say.
    Friendlyjordies are filling the spot.”
    The member for Murray, who broke 35 years of Nationals party incumbency in 2019, praised friendlyjordies for covering regional council corruption, water, grants and environmental issues that are being overlooked by mainstream media.
    Communication and media PhD student at the University of Newcastle Jarrod Bonsom said friendlyjordies was “fostering critical thinking” in an entire generation.
    Former Rudd political strategist Bruce Hawker said Shanks’ style was “the story of new media”.

    The paper on the GC is run by news corporation, it is failing cos of the reasons listed above
    Nothing of substance is presented, but then news is the major shareholder in the brisbane broncos
    Who are at or next to the wooden spoon in the nrl football.
    IMO that is not coincidental

    • Hearing two different stories on the GC WW. One tells me it’s carnage due to tourism being 90% gone and the other that it’s gangbusters because the southerners are all arriving. Where does the truth lie?

      • its best to come and see for your self
        try this, book in somewhere at broadbeach, get comfortable
        take a day trip to southport and note the ghetto, note the highrise with meriton on the top
        take good notes
        take a day trip to surfers, again do plenty of walking around, take good notes of the shuttered business
        Take a mornings walk from broadbeach to surfers along the beach road and note the jewell and the spirit
        the spirit is tricky to fathom cos there is just a flat surface to the block of land, but underground there is about a 100 million of foundation already carried out. There has been about 4 billion lost in those 2 buildings so far. Why
        take the afternoon walk back and note the failed ruby developments. another coupla hundred million
        Notice overall no friggin chinese walking around as though they own the place.
        Spend a half a day at pacific fair, note the customers.
        PF is owned by AMP, they recently took a 8% hit to their share price. Why
        Hire a car for the day and drive abound the suburbs south to the border
        note the majority of infrastructure is 40 years old, and in full disrepair
        a large percentage is 20 plus years old and not being maintained . take a second look at everything
        and the recent building are of dog box style as championed by the meriton money box architecture.
        Dont go ocean swimming anywhere south of burleigh.
        Then have a few beers and ask yourself, if you lived here how would be feeling about your life choices, the whole joint is now like an old persons home.
        and if you were planning on moving here, what would you do for a job, and would you like to come home each evening to a jerry built house in the burbs. check em out.
        Now I can describe it, but to appreciate it, you need to have the ambience soak in.
        This place was built to imitate the florida region of the usa
        but the economics of the place were still dependent on the ponzi of flipping property.
        with the cancellation of international tourism the music stopped
        but the place is still ageing, the gloss has gone, and it is apparent.

        • The Goldie is both fascinating and horrifying in equal measure. A large retirement village, a good dollop of wealth (new money), heaps of bogans and quite a lot of poverty. And beach freaks — saddle bags with eyes, botox, fake t1ts.

          Great surf though (if you can get a wave without 7 people dropping in on you).

        • boomengineeringMEMBER

          Thanks Wiley, that confirms my belief that a the exodus crowd may regret it, one reason being that the boss of the WFH may as well just outsource to India at a reduced rate, Even if only one in every 100 is any good then with a pop of 1 billion you still have a big pool of cheap qualified to chose from.
          BTW The reason some outsourcing is returning to Aust is that the Indians are also required by covid to WFH but they haven’t computers at home to do so.

        • Yep, great to have our very own GC correspondent back.

          I’m usually up there three times a year, staying at Coomera where I can get onto the sandflats on the river and Broadwater easily to chase my piscatorial friends. I’m an estuaries man. Missed out this year.

          Heard Surfers was like a ghost town with shopfronts shuttered, but no doubt plenty hoping to make the move once things open up down here. Can they afford to? Who are they selling to down here in an exodus? I also doubt WFH will be a permanent thing – your average control freak, psychopath manager likes his or her people to be where they can see them. They’ll demand a return as soon as they can. We might have a brief return to the 80s with the northbound exodus, but as per your reasons, like they did in the early 90s many will return south.

          • Rorke's DriftMEMBER

            I’ve known a number of people the past 10 years that live Byron Bay or something and fly to Sydney 4 days a week. I think the video conf technology accelerates this as a trend. So not full WFH, but living up north and flying to Sydney (maybe Melb) 3 days a week to be in the office and WFH 2days is very realistic now. Just 2nights away from home, keeps the manager happy and allows a reduction in office space costs.

        • Thanks WW. A bit sobering for a Sunday morning. “with the cancellation of International tourism the music stopped”. I can see that. It sounds like inspecting a favourite nightclub in the mid-morning light – all the wear and tear is visible, and the whole thing carries a depressing vibe.

        • Rorke's DriftMEMBER

          Thanks Wiley. I spent every summer as a kid at my grandparents house at Mermaid beach, so although from Sydney I just have this affinity for the place where I instantly relax whenever I go there. Was always a nice vibe, irrespective of the stuff you describe, as economically its always been very cyclical. Just the growth in drugs, new zealand residents and then chinese tourists replacing japanese as the big changes over the decades.

          What worries me as a big long term threat to the area is that shark attack. Interested in how the locals see it. Your comment “Dont go ocean swimming anywhere south of burleigh.” I was wondering if distance from the mouth of the Tweed river is considered the risk measure? Northern NSW just seems to be the point at which sharks travelling north up the coast seem to congregate but the Tweed river might be the GC high risk area.

          Are locals still swimming regularly or has it scared people off. I’m of the generation that was traumatised by Jaws as a kid so been a bit nervous of them ever since. I imagine just like Amityville Mayor the papers shut down talk of it.

          • 3 weeks ago at north kirra the local fisherman,from the beach
            took 9 nets full of mullet.
            cleaned up the whole school
            now that school would have taken 5 years to build up.
            the local sharks, and they are territorial, eat those fish.
            so my call is that shark at snapper was thinking to itself, he is a bit peckish
            its getting dark, I’ll try a nibble on this. get me through the night.
            note the very shallow water of the attack, about a meter to 1.3m
            note the shark did not eat, just munched.
            now that shark has not been caught, the shark caught was a tiger, and so far no proof it was involved
            reminds me of Tweeter and the Monkey man by TTW.

          • Rorke's DriftMEMBER

            I didn’t know the attack was that shallow. Wow, 1 – 1.3m. Sorry I asked as I didn’t think shallow areas were much risk.

            You might be onto something with the fishermen cleaning out the normal food.

      • boomengineeringMEMBER

        Holy sht Wiley’s back.
        Welcome back Mr Wolf.
        Jimbo, both would be the answer.
        Big exodus out of Meld/ Syd to the regionals and North into Queensland. Two main reasons WFH (not needing a big mortgage as well as enhanced lifestyle) and boomers sick of the cold weather.

  4. Arthur Schopenhauer

    Monash, RMIT and Latrobe are all in a pickle in the Education State.
    Why does Australia need 39 Universities for 25 million people? A bit like 3 gas plants in Gladstone.

      • “Last Friday, November 9, saw the big “Milton Friedman Centennial” celebration at the University of Chicago’s Becker Friedman Institute for Research in Economics. It was a big day for fans of one of the Founding Fathers of neoliberal/libertarian free-market ideology, and those fans are legion on both sides of the narrow Establishment divide —as Obama’s economy czar Larry Summers wrote in 2006, “Any honest Democrat will admit that we are all Friedmanites now.”

        One episode in Milton Friedman’s career not celebrated (or even acknowledged) at last week’s centennial took place in 1946, the same year Friedman began peddling his pro-business “free market economics” ideology.

        According to Congressional hearings on illegal lobbying activities ’46 was the year that Milton Friedman and his U Chicago cohort George Stigler arranged an under-the-table deal with a Washington lobbying executive to pump out covert propaganda for the national real estate lobby in exchange for a hefty payout, the terms of which were never meant to be released to the public.

        The arrangement between Friedman and Stigler with the Washington real estate lobbyist was finally revealed during he Buchanan Committee hearings on illegal lobbying activities in 1950. But then it was almost entirely forgotten, including apparently by those celebrating the “Milton Friedman Centennial” last week in Chicago.” – snip

        https://www.nsfwcorp.com/dispatch/milton-friedman/

        I highly question your concept of “good economist” and how you arrive at that conclusion.

        PS I would note that at least he was not a money crank.

          • You should examine his views over his life and not focus on one aspect which is a factor of a specific time, Keynes was once a proponent of monetarism too, same is applicable to Hayek.

            It might behoove you to look at my response to mig and the Levi-Strauss introduced idea of the ‘bricoleur’ and its application to economists.

            PS my statement about Friedman still stands, good is arbitrary and his history is not a good look in facilitating that perspective no matter how you dice it.

            Do read the rest by all means.

      • Friedman’s problem was he had 2 goals which were in sharp conflict :
        1. maintain membership of the libertarian club
        2. be a credible monetary economist

        This is basically impossible, because any genuine economist post Keynes understands the non-neutrality of money – Friedman understood it -and what that implies. eg. the government not only can but must manage aggregate demand.
        But how do you reconcile this with a libertarian dogma that say government intervention is a threat to liberty?
        Well you tinker.
        Yes money may be non-neutral, but demand for money is stable – how do I know? Well I don’t I just made it up despite all evidence, but it fits the libertarian goal, so lets just assume.
        Therefore all the CB needs to do is provide a constant rate of increase in money (which is almost impossible to define and Friedman knew). Call it the K percent rule.
        Now I’m meeting goal 1. because I’ve just recreated a modified gold standard which libertarians love, but I’m also meeting goal 2. because I’m acknowledging CBs do need flexibility to create money for growth.
        But the rule turns out to be completely wrong – and was abandoned after 2 min in the 80s. Money demand is highly unstable (as Keynes said), and dependent on the rate of interest.
        In fact the 4 largest CBs can create about $15T post the GFC with no effect on inflation.
        Biggest experiment with monetarism ever, and .. it doesn’t work.

        • You lost me at ” the government not only can but must manage aggregate demand”

          The government’s only job is to protect property rights and defend the borders. Its involvement in the economy in any capacity is almost always detrimental. But don’t take my word for it – from the one man who, more than any other, was responsible for taking Hong Kong from a the modest fishing village it once was to the bustling and dynamic financial centre it is today:

          “I largely agree with those that hold that Government should not in general interfere with the course of the economy merely on the strength of its own commercial judgment. If we cannot rely on the judgment of individual businessmen, taking their own risks, we have no future anyway.”

          • You’re not a Friedmanite then.
            Hong Kong. Yeah free markets.. if you exclude permanently fixing the most important price in the economy ie the exchange rate.

          • I never was a Friedmanite – a point I’ve made countless times but you ignored.

            He was originally a free market advocate and then he adopted monetarism which essentially argues for intervention i.e. if we just create some money from thin air periodically the economy will benefit from it. It goes without saying that those who get to use this ‘money’ first certainly do – at the expense of the rest of us. How do we know this to be true? Well, if you accept the premise that you cannot create new wealth by printing money, and someone is getting wealthy from it, then it stands to reason that someone else must be getting poorer.

          • Narapoia451MEMBER

            If the only role of govt is to protect property rights and defend borders, much as it was for the right property owners during the early industrial revolution, what stops the free market from working children for 16 hours a day instead of getting an education?

            Looking around, it seems to be the same thing that stops child sweatshops in countries with ineffectual or corrupt governments today, i.e. nothing.

          • If the only role of govt is to protect property rights and defend borders, much as it was for the right property owners during the early industrial revolution, what stops the free market from working children for 16 hours a day instead of getting an education?

            More apropos to MB, if the only role of Government is to protect property rights and defend borders, how can any immigration control outside preventing military invasion (ie: “defending the borders”) be justified ?

            Ya don’t get much more “big Government” than arbitrarily preventing the free movement of people.

        • Personally I find Friedman’s approach not unlike the efforts in determining what constituted the new testament, much to the dislike of some in the old testament camp, regardless of its reflection of reality.

  5. Totes BeWokeMEMBER

    Plenty of people i know saying “I can’t see house prices falling much”. There are suburbs of Newcastle and Wollongong that have risen over 20% since March.

    There’s a lot of confidence out there, despite everything that’s happening.

  6. Just came back from a short road trip around the Bundaberg region and Clive is at it again. Multiple big yellow billboards mainly saying ” Clive says- give Labor the boot”. And in Brisbane LNP power broker Sallyanne Atkinson is urging the faithful to preference Labor over the Greens. I can smell the fear and it is giving me an appetite. Heading back to northern NSW this week to help battle against the gas madmen and koala killers there. An interesting summer ahead in many ways.

        • At the stage where I need to buy a workshop
          the rentals were priced as though you were taking out part of fort knox
          but there are many industrial buildings for sale, and thier price is collapsing
          so that is the ongoing plan.

          • Curious…do commercial rent demand a 6 week bond sale as residential? Was astonished at 6 week bond back in 2017 for sh*tty original condition bayside Melbourne. Not to mention personal info & bank statement to acquire lease on said property. Nothing else at the time – rent down 25% last 2 months

          • BG, yes to all
            the prominent commercial building ask for a 6 months minimum lease
            Note QAN raised enough funds from the punters,
            that they could stay parked up for 12 months, from back in April.
            that I think is how it will go.

      • That I did WW, though Clive outnumbered them 2 or 3 to one. What I point out to PHON supporters is that she came into politics 25 years ago with one role ( to stop being overrun by certain people) and how did that turn out?

        • that stint in stone castle, re aligned her thinking
          I say she is very conscious of being a prawn at the party of the big guys
          Now BIG Clive, he has em bluffed
          Not this time for him, maybe next time.

  7. Who would take a punt at a Qld / Nsw border opening date? I’m in Syd atm, looking forward to going home. At this stage i’ll have to spend 2 weeks in Canberra before flying. Sounds like a poor option, but the only viable atm. I am sort of hoping that by the time my project ends (20 oct ish) I should be right to drive back across a freshly opened border…

  8. They’re onto us, fellas:

    Excerpt from a blog piece on social media and the Internet: “Not only do electronic messages capture your attention and devour your time, they also take over your emotional life. Little by little, you come to care about people you’ve never met… battles you will never fight… and issues that don’t really matter.

    The next thing you know, you will find yourself not just a spectator ogling the online circus, but an actor… another clown… voicing an opinion, taking polls, leaving comments, and joining “chat” groups.

    Then, you are practically beyond hope. The internet has gotten a tighter grip on you than heroin on a dope addict. That world – the fake one that takes place in digital space – has become your world.’

    Ouch.

  9. Thanks Gunna. Excellent links and landscape – I had to put on my 3 x glasses to find the hiker 🙁
    Hopefully Geetroit/Surf Coast has not been swamped by escaping Melb rats.

  10. NEW ZEALAND COVID CRUNCH: PITY WE NOW HAVE THE WORST HOUSING BUBBLE IN THE ENGLISH SPEAKING WORLD ( note just updated http://www.PerformanceUrbanPlanning.org ) ……

    2020 16th Annual Demographia International Housing Affordability Survey

    http://www.demographia.com/dhi.pdf

    … Damien Grant, Stuff columnist today …

    Treasury’s pre-election opening of the books tells an ugly story … Damien Grant OPINION … Stuff NZ

    https://www.stuff.co.nz/opinion/300109925/treasurys-preelection-opening-of-the-books-tells-an-ugly-story

  11. Totes BeWokeMEMBER

    …..”One Labor campaign strategist, who asked not to be named, said Shanks’ “nasty” style was starting to cause concern inside the party in NSW. “The stuff he has done with John Barilaro is racist,” the person said. “My recommendation to people is to stay away.”….

    There are no boundaries for how dumb Labor are.

    Or, is it that Labor don’t see votes in this, knowing they are now firmly in the same basket as LNP state and federal?

    A voting revolution has started in Australia IMO.

    • I agree. Spinproof podcast made comments about Labor not recognising “the war” that the LNP is carrying out and not understanding that the government is behaving like a conventional government. FJ is exactly the kind of aggressive approach required from an opposition party – that this guy has caused SuperBarilaroBruz out on mental health leave where Federal Labor has done 4/5 of SFA is testimony to the fact that they have been completely ineffectual.

    • You know what I loved even more than FJ’s recent Bruz video? The earlier one where Barilaro had accused him of being racist – but Jordies had THE BEST comeback : “But I’m a wog too!”. Lol, rekt!

  12. Diogenes the CynicMEMBER

    Thanks Gunna good selection of links. The stories on Germany (sick economy weak exports) and Japan (exports down 15-20%, imports down 20%) indicate that the world economy is sick. With COVID here to stay for sometime (vaccines or no) the economy is facing a pretty big restructuring yet there is little being done to prepare for what lies ahead. Add in funny money from central banks, MOAR government stimulus, strong stock markets, zombie companies and the overall push to get back to the broken model where we were as fast as possible makes the absurdity complete. I’m totally bemused.

    • You’re not alone. I rather liked the rationale behind the old Kondratiev cycle, but with modern economics and ‘clever’ interventions, we’ve arrived in new uncharted territory, with strange behaviours. The US sharemarket, in particular, doesn’t relate to any observable reality except market sentiment (and transfer of wealth to the wealthy). I really don’t know where to invest right now. I can’t make any predictions about almost anything with any confidence, because it all seems so broken.

  13. Physical gold. What are people’s thoughts.

    Seem to be a number of options
    1. Zurich eg Matterhorn
    2. Sprott gold – appears you buy trust funds on NYSE, and these are fully allocated in Canadian mint
    3. Perth – ? risk of losing this, and of course government knows about it
    4. Singapore – may be getting a bit too close to Ch1na (read SCMP article about a limited defence treaty between Singapore and Ch1na)
    5. Store yourself, with all the obvious risks. But might be worth having some coins.

    • Totes BeWokeMEMBER

      The only reason you’d want gold is if everything is going to sht.

      If everything is going to sht, you want the gold in your hands yeah?

      $100k would fit in a couple of matchboxes. You can insure it via contents too (not sure how sound that is if everything is going to sht).

    • Dominic “if you buy below $5k each time you don’t need to leave details and can pay cash. If you are in Sydney, just go to ABC Gold on Pitt St.”
      Thanks for that. So only need an account above $5k, and need an account to store. No storage fee for pooled, but secure = 0.75%.
      Given past history, seems sensible to keep below the 5K threshold. Small denominations seem sensible also.
      So could secure at home.
      Or they have a partner safe deposit box solution. $22 per month, which isn’t bad.

      Desmodromic “Steve, I’ve been buying unallocated gold and silver from the Perth Mint since 2016. It is government backed and I don’t have the concerns of some below or at the top of the comments. I use the gold:silver ratio to buy whichever is relatively the cheaper and occasionally swap one metal for the other when the ratio is extreme, as occurred recently. It has worked for me as a currency hedge as I’m up about 55% and better than in the bank. From here it will get harder as the USD declines unless precious metals do a moonshot on political and economic instability. I’m not betting on it and expect to reduce my allocation and/or continue to trade the gold:silver ratio.”
      Interesting. How much do you find the ratio has to change to offset the transaction costs of converting.

      • desmodromicMEMBER

        Steve, the volatility is such that it doesn’t take much movement in price to cover the transaction costs. When the ratio is above 80 I’d be favouring silver over gold, and the reverse when the ratio is somewhere below 40 or so. In March the ratio went to 125 and I swapped gold for silver at AUD$19, now $36. While there are transaction costs I didn’t put any additional funds into the account. Hope that helps.

    • When you really need the gold, you need it close. Safes are cheap and easy to hide. Good place for cash, jewelry and passport (not that they are particularly useful at the moment). Good chippy will put one in for about 2 green

    • What do you think the chances of the Oz gov taking your gold stored at the PM really are? Why would they do that? What are the benefits and negatives to them? If Oz really needs to increase it’s gold holdings (which is entirely likely at some stage in the next decade) it is far far far more likely that they will slap a 0.05% annual gold production tithe on the miners for 5 years than go the PM and any other bullion storage facilities and say hey, hand over all your client’s gold.

      There is a lot of misinformation and hysteria surrounding PMs but there are also a lot of very good people to follow in the space. Gold is still part of the financial system although it decreased in systemic importance from the early 70s up to a few years ago. It is now a tier 1 asset under the Basel international banking regulations and that is what makes it a very good asset to own atm in addition to all the other stuff going on. If tshtf in Oz gold and silver coins may be of limited use in everyday transactions with a small number of people but it is unlikely as they just aren’t widespread enough in the population to be a common means of effecting transactions. If you are going to buy PMs I strongly recommend you educate yourself as much as possible about the role it plays in the monetary system and different amounts of possibility for various scenarios (this is not a small endeavour). Be clear about why you own it and what your strategy is, then you will be able to deal with the stomach churning volatility of the asset and the often hysterical misinformation that surrounds it.

  14. desmodromicMEMBER

    Tales from the road. Since meeting the friendly policeman on the Queensland border at Nappa Merrie, I’ve spent a week on a mates cattle property near Longreach, reached the coast near Ingham, spent a few days on the Atherton Tablelands bird watching, and again at Cape Tribulation. Having ridden the Bloomfield Track to Cooktown am now heading home. Joh’s Bloomfield Track is extraordinary, before this I’ve never seen signs for 30% grades. Add in a river crossing and it is a challenging ride on a big bike. Now to Cairns to get a new rear tyre. Only 3500 km on it but not enough tread to get me home. The only route home is via Birdsville and the Track is closed after heavy rain. Hopefully it dries out over the next few days, otherwise I’ll have to sit and wait. Everything is more complicated in the Age of COVID.

    • 2020 Annual Meeting of Stockholders and Battery Day Tuesday, September 22, 2020 at 1:30 PM Pacific Time. Tesla’s 2020 Annual Meeting of Stockholders will be held on Tuesday, September 22, 2020, at 1:30 PM Pacific Time.

      If those guys feature the million mile battery
      there will be plenty of shorting going on.

  15. Totes BeWokeMEMBER

    Looking for something awesome to watch in the rain today?

    On ABC yesterday. Cathy Freeman in her lead up to the 400m Gold. The best athlete in Australia’s history IMO. I found it quite emotional to watch.

    iview.abc.net.au › show › freeman

  16. Gotta love it. Uni of Melbourne VC’s faux concern utilising the sentiment towards lockdown to piggy back off of, so he can ram some “bring back international student pls” edumigration self interest in Domainfax. Convoluted article that you only have to read one paragraph of to get the intention.

    Otherwise known as doing a Megalogenis.

    https://www.theage.com.au/national/melbourne-uni-chief-says-victoria-must-address-difficult-ethical-questions-20200919-p55x82.html

  17. Super for first homebuyers is maybe not so bad with current interest rate settings. With the savings in weekly payments and a friendly tax regime to allow accelerated repayments to super, recovering money withdrawn it would work.

    • darklydrawlMEMBER

      I still don’t understand why they don’t sell the place if it is no longer making them money. It ain’t rocket science FFS. Nobody prints articles like this drivel for stockholders who are losing money – this is no different. Merely an invest that has gone bad – why the hell should the taxpayers give them another dime! Just sell it.

      • God no. That would mean they can no longer negative gear and would have to start paying taxes. Paying taxes to support dole bludgers, such as themselves?! Hell no.

    • happy valleyMEMBER

      Indeed, hope quite a few of them see homelessness to understand what it’s about and to get some humility. No such luck for excess franking credit “refund” zero taxpayers who just expect the luxury lifestyle that taxpayers subsidise them in, to continue.

  18. Mining BoganMEMBER

    If you didn’t watch it last night, turn on the telly and watch the time-trial runs by the main contenders in the big bicycle race. Some inspiring stuff there.

    • Boss ride by wout – could be anything

      Looking at the worlds wout or tadej I think .

      Tadej – 21! Homie I was sucking 6 packs of ouzo and coke UDLs at moose head the cutting up the dance floor at Goo at 21 and this mofo is winning the Tour?! Shiiiiiiiii/t

      He could be pulling the rainbow on in 7 days
      I still like van aert though – he is a freak

      Edit
      Super barilaro boss ride by Richie though
      At 35 that was super 🦵🤙👀👍

  19. the money that has been evaporated by the chinese on the gc is near incalculable
    Huang Xiangmo ,the Chinese ex-figurehead of a company behind the 3 Gold Coast Jewel towers,
    Who is now banned from Australia, and who, is at the centre of a NSW corruption inquiry, understated his income by $170 million over 3 years and was rapidly moving money offshore as the tax office swooped.
    The federal court has maintained the freeze on Mr Huang’s assets, and in a judgment released last Wednesday revealed that foreign tax rulings were no longer enforceable in Hong Kong,
    as the region now came under the same laws in this area as mainland China.
    He is the tip of an iceberg.

  20. You can’t accused the LNP of not using a good pandemic to line their pockets, unchecked and unabated.
    https://www.theguardian.com/australia-news/2020/sep/20/pms-taskforce-backing-gas-expansion-received-advice-from-lobbying-firm-with-saudi-links

    “PM’s taskforce backing gas expansion received advice from lobbying firm with Saudi links”

    New freedom of information documents released to Greenpeace show that the taskforce, a publicly funded body, was being helped in its work by a firm named Dragoman, which lists Liveris as the chair of its international advisory board.

    Dragoman is a registered lobbyist firm headed by Tom Harley, a former BHP executive and vice-president of the Liberal party, which counts the chair of gas retailer Alinta Energy, Mark Johnson, among its long list of counsellors.

    At the time it was working for the manufacturing taskforce, Dragoman was also listed as lobbying the Australian government on behalf of Saudi Arabia. The government’s foreign influence transparency register shows Dragoman worked for the Saudi geological service to further Saudi mineral interests for the 12 months until July.

  21. OK Guys, sorry about the lack of further action since Friday – work and family issues have intervened and I have a monumental hangover.

    But the burgeoning political movement – still operating under the Bullshit Australia banner – has about just over 60 expressions of support………

    The ‘membership’ or those currently having indicated ‘I’m in’ are the below

    1 Anon
    2 Arthur Schopenhauer
    3 baddreams
    4 Baldbadger
    5 Banana Man
    6 BCNICH
    7 bda2206
    8 Bendy Wire – (WA)
    9 blacktwin997 (Vic)
    10 Bolstrood
    11 Buzzy
    12 C3PO
    13 Cham
    14 China Plate
    15 ChristopherJ (QLD)
    16 Darklydrawl
    17 Dominic
    18 drt15
    19 Elbe1 (NT)
    20 Ermington Plumbing (NSW)
    21 Footsore
    22 Forrest Gump (Secretary of the ‘No Bullshit’ wing of the Party)
    23 Gareth
    24 Gavin
    25 Gavin (VIC)
    26 Geordie
    27 Goldstandard1
    28 Gunnamatta –(VIC)
    29 gunner1970
    30 Happy Valley (NSW)
    31 Haroldus (NSW)
    32 Hill Billy 55
    33 Itag
    34 Jimbo
    35 JS
    36 Jumping jack flash
    37 Kanniget
    38 Kodiak (Vic)
    39 L
    40 Loppy68
    41 LSWCHP ( ACT)
    42 Macrofish
    43 Mark
    44 Mining Bogan
    45 my torana
    46 Niko
    47 Peterbruce
    48 Popcod
    49 RaglanParade (VIC)
    50 Revert2Mean
    51 robert2013
    52 RobotSensei
    53 Steve (Vic)
    54 Stomper
    55 Swampy
    56 Tassie Tom (TAS)
    57 The Claw
    58 The Sling Shot Boys
    59 Totes BeWoke
    60 Tree (WA)
    61 Triage
    62 Ukraine fn
    63 Yeborsky
    64 Gramus
    65 TailorTrash
    66 Frostilicus
    67 Maun Rhys

    as far as I can make out – and there may be the odd mistake

    I have created an email – [email protected] – because the word ‘Bullshit’ cannot be part of an email address in Google.

    I propose as a first step we will need to create a website with a domain name – although in the first instance I dare say there are free websites about.

    The real steps are going to be to start working on

    Getting enough names together to form a party for the purposes of the AEC.
    Getting some form of basic admin together for the AEC, and
    Firming on what ‘We’ stand for.
    Getting a Webpage

    At some point we will need to start thinking on who can and will be prepared to stand as a Senate candidate, and what we can do to support them, and what commitments those people can give the ‘members’ of the party about their commitment to serving the ideals of the ‘party’ – the last thing we would want is to get someone elected and watch them sell out to one of the bigger parties. I really do think the general themes I posted last week are likely to be fairly popular, and I really do think if we are serious we can get someone into the Senate.

    I like the name as is, but do agree it may potentially pose problems. I tend to the view it is swearing, but also that we need to position ourselves as being ‘honest’ and capable of stating things honestly and accurately to the people of Australia and part of that to my mind is that respecting that virtually all Australians know what bullshit is (and a large number of them think our politics is full of it)

    Who is thinking what as a next step?

    • Hi gunna

      Would MB allow a splash page as a one-stop shop to start with? In the sidebar? Maybe not as I guess they don’t want party affiliation?

      Reason is I wanted to check the policies so far, and could remember where they are.

      And, should we have a Zoom meeting as a prelim thing, with you as chair.

      We have company-wide zoom meetings at work that seem to go OK.

      Another thing would be domain for emails like [email protected]

      I’m happy to do grunt work SQL queries for the db, and I know we have some web and big data freaks, I’m sure we have sysadmin and security nerds too.

          • My kid is having a toenail operation tomorrow night, apart from that any night this week – or next weekend – which suits you will be fine for me.

          • Arthur Schopenhauer

            I’ve got a few ideas about how to ‘App-iffy’ the Party process for fast feedback and policy development. Party membership on your smart phone, along with the nuts and bolts of campaigning etc etc.
            Happy to help out building it.

          • @ arty we really need to bed down the conflict between anonymity and public facing.

            Can you imagine if everyone at MB were suddenly visible to the world?

            A terrible plague visited upon personity.

            So privacy IMHO needs to be one of the first things addressed.

          • Totally agree on the privacy front – part of the reason my movement at ADV has always been anonymous.

            I would think that I’d be a decent candidate to run for the senate as part of this movement – given I’ve got 46,000+ Facebook followers and 2,000+ Twitter followers in my own right (and also been reading MB for close to a decade).

            I think the “Bullshit Party” has the right idea – but probably needs a bit of refinement to get around the swearing filters.

            I think something like “Fix Australia”, “Future Australia”, “Birthday” (why not imitate Kanye?), or “No Corruption” are probably better banners….. Even something like the “Anti Pig Pollies” or something would get a laugh and some wins too.

          • @raglan
            That is amazing to me that you have so many followers.

            But are you willing to be your real name in pursuit of a senate seat? As directed by the MB cognoscenti?

    • TailorTrashMEMBER

      Count me in Gunna ….like Dick Smith I’m too old for heavy lifting ….but I can always turn a snag at a fund raiser …..

      and next step …work on the name …..
      …..like the MSM are doing to friendly Jordies don’t want them to pidgin hole you as comedian ……or worse still a right wing racist extremist …..

      Anything that puts power back in the hands of the citizens is good by me …..

      • TailorTrashMEMBER

        …and I should add that young van Onselen
        fellow has some nifty charts that the current numbskull
        Senators would struggle to comprehend…..never mind argue against …,.

    • Impressed by the platform and its ability to bridge the chasms within this board alone.

      I’d suggest the brains trust here could provide some good ROI strategies for social media flooding/bot networks/viral campaigns etc? Might be a better approach than trad rank and file organisation.

      A quick name change suggestion “No better solution for Australia” party, shortened to No BS for Au.

      “An end to corruption – there’s no better solution”
      “Rebuild Australian industry – no better solution”

    • Sounds interesting but isn’t the anti BS party occupying the same intellectual stage as a Pro-Apple pie party?
      I might strongly agree with its aims but why would I ever vote for it?

    • Count me in!

      This is great. I am small business (though so small I cant bankroll a political party) and will try and get the message out through clients.

      Thats a good set of policies – though I wonder about the cost of all those Royal Commissions, and the budget effect of increasing the minimum tax threshold to the 50k mark [tho I assume taxing the living daylights out of property speculation and banks, and taking a load of other mainly business parasites of the taxpayer teat sort of balance that out]

      I think you will need to have something clearly stated about climate change and jobs for younger people

    • In terms of a website. You can roll out a WordPress site using Google Cloud within a few minutes. It will scale easily too.

      I wouldn’t over complicate it. Plus the Affordable Housing Party (which I’m still a member of) would likely be aligned in many ways. They already did all the admin to get registered as a Political Party. I think they needed 400 active verified members.

      I’m happy to help where I can. But I have a 6 week old baby who’s taking up a lot of time. But I work 3 days currently. So I have some idle time I can possibly plug.

      With regard to sell out members. I’m not in this for the money or fame. I actually want to see this country achieve its full potential and I’m sick of seeing it held back by the fwits making policy decisions.

  22. NEW ZEALAND: CHRISTCHURCH CITY COUNCIL … THE DESTRUCTIVE BLOATED BUREAUCRATIC DISASTER …

    … There are two types of local government in this world … the small and the bad …

    … What lessons are being learned from the smaller adjoining units of local government … Waimakariri and Selwyn … that ‘saved’ Greater Christchurch following the earthquakes ? …

    New residents’ forum designed to improve Christchurch City Council’s dismal approval rating … Tina Law … The Press / Stuff NZ

    https://www.stuff.co.nz/the-press/news/122829742/new-residents-forum-designed-to-improve-christchurch-city-councils-dismal-approval-rating

    ‘Bloated salaries’ at Christchurch council where 1 in 4 earn over $100k … Dominic Harris … The Press / Stuff NZ

    https://www.stuff.co.nz/the-press/news/121389628/bloated-salaries-at-christchurch-council-where-1-in-4-earn-over-100k

  23. More than 60,000 volunteer for final trial of pioneering ‘Sputnik V’ Covid-19 vaccine
    Link here

    I know it comes from a country that rushed it (well no different from the RotW) and cannot even make a quality deadliest poison like
    novitschok (it seems to fail to have full effect on dissidents and their assocaites and financiers from across) but it is still the most hope it comes from any vaccine on the market.
    Given that Covid seem to be a bit choosy virus and many consider themselves immune (must be Mithraic and Sol will shield them, eh?), 60,000 volunteers in record time is a lot of faith.
    My take is that failed vaccine can be a huge blow to Russian reputation, hence i doubt they would risk a lot. Otoh, in case of success… so i don’t doubt they went all resources in…
    Another milestone in hope, though not a cigar yet.

  24. Luxury houseboat used as an Airbnb catches on fire in middle of pandemic that has essentially shut down Airbnb type activities. What terrible timing.

    Overnight stays at Lilypad start at about $1750 per night. Its Airbnb listing describes it as “a luxurious floating villa for overnight stays and intimate events” in a tranquil location.

    https://www.smh.com.au/national/nsw/luxury-palm-beach-houseboat-hotel-totally-destroyed-in-fire-20200920-p55xgv.html

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