Macro Afternoon

See the latest Australian dollar analysis here:

Macro Morning

Another solid day on stock markets with rally on Wall Street translated into gains across the region, although Chinese shares are stumbling going into the close. The USD is firming against Yen and the Aussie, but Bitcoin is breaking out to new weekly highs above $11000. Gold has fallen back to its previous weekly high just above the $1915USD per ounce level:

The Shanghai Composite has been unable to translate its prior gains into a new rally, currently treading water at 3355 points while in Hong Kong the Hang Seng Index is having a holiday.   Japanese stock markets are putting in minor gains, with the Nikkei 225 closing 0.2% higher at 23597 points. The USDJPY pair has stalled in its selloff due to USD strength, finding a bottom here above previous weekly lows at the 105.30 level:

The ASX200 had another great session, gaining a further 1% to close at 6195 points, extending its gains and looking to retest the previous June highs. The Australian dollar is following gold and fallen below the 72 handle in late trading after looking overextended last night:

Eurostoxx and S%P futures are flat going into the European open with the S&P500 four hourly chart is looking overextended above the 3500 point level, but still wants to return to the previous highs nearer 3600 points:

The economic calendar inlcudes the latest UK jobs report, the closely watched German ZEW sentiment survey and then in the US its the September inflation print

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Comments

        • Who cares about who did or didn’t sign it. The substance of it was much more important. The Lancet article originally posted of a single case study had no substance seeing it is 1 out of 8,000,000 given as “proof”, even though the writers note that there are other possible explanations. But your comment couldn’t engage with that so you pulled out something else. Well done.

          • I’ll also add that everytime someone posts that barrington thingy here they specifically mention the number of signatories and appeal to their authority as “scientists” so yeah……

          • @w2f. The reason the anti lockdown mob are appealing to the science is because it’s exactly the same rationale the lock us down mob used to destroy the livelihoods of millions of people. There is not leg left for your argument to stand on. The sole reasoning for your argument has turned 180 and yet youre left trying to defend your ego along with a few others on MB.

    • You obviously don’t understand how vaccination works. If this bloke can get reinfected then it throws the whole theory of vaccination out the window. The waiting for a vaccine meme is a hoax being propagated to try and keep people’s hopes up. Ever stop to consider why there isn’t a vaccine for the common cold? Like all corona viruses this thing will mutate faster than we can create vaccines if one ever comes into existence.

    • Terrible – but from my reading a building under construction and it was a construction worker that passed away – which is less surprising than an existing building having a collapsed roof.

        • I suspect that due to all the health and safety regulation that people are less careful now because they put all their faith in someone else to take care of their safety requirements.

          • Banana ManMEMBER

            Generally, I think its from impossible schedules. All that hire equipment and labour cost money. She all pinned up? Right, lets go for it. Id say no one signed off on the steel work.

          • This.

            Nobody wants to debate this point but it’s true. The more safety equipment and processes you have around you the more complacent you become. “All risk has been removed” — from workplace situations, to buying property, to using the public road system.

          • Banana ManMEMBER

            You sound like a dic farmer. They would have been doing some fancy pants impossible glass roof and it collapsed. It’s a high risk job. Someone will go down hard for this. Dom is 100% right on this but generally you try to work to as low risk as reasonably possible.

      • Banana man has it right IMO. Impossible schedules…
        Brother of a colleague was working under that exact roof yesterday. Apparently the subbies had already flagged concerns about deflection and were ignored. Criminal negligence…

    • How about that , a space frame
      On the GC and probably everywhere else as well
      roof frames for houses are built to minimum space frame design
      then the punters have solar panels installed and mostly the roof design did not allow for that.
      So for so good.
      but with a numerous cyclone season forecast expect many roofs to fail under the loads.
      They will not be insured.

      • I had a Norwegian architecture exchange student roommate a few years ago who was studying at that RMIT for a term. She said the content was basically fluff, more like interior design than Architecture, and nothing like Norway. She spent the whole time instead suntanning and banging an Aussie bloke (good bloke, he cooked us all dinner when he came over).

        A few months later I had a British chick roommate studying Interior Design on exchange at Australian Catholic University and she said that uni was sh1t too! They were teaching stuff in 3rd year that was covered in 1st year in the UK.

        • Your exchange student friends sound like whinging fucks, don’t they know that edumacation is for visa not for information. They probably failed their subjects whinged some about oz being convicts who can only design sheds. And generally complain how far superior their native lands were. Just likes poms telling us how much better Cadbury’s is in the uk.

          RMIT was always a bit of a joke. ACU well you said that was an interiors course, so no comment for me on that.

          Architecture is not a trade.

          A lot of the University course work used to be theoretical and challenging ,gives you the capacity to become a self learner rather than someone who just regurgitate s facts. This is why so many over achieving high school students fail in architecture. Having said all that , the graduates from the last ten or so years indicate a very very very steep decline in teaching standards, which is fairly universal across a number of disciplines and sectors from what I hear in public discourse.

          Over the last twenty years or so the contract Type of design and construct , or some twisted variation has become the standard to deliver projects. Whilst originally imported from the uk where it is design build and surprisingly works much better than here where the development industry has crafted it into this monster where all the risk and liability is contracted and Phoenixed to those who aren’t being remunerated to take on this risk but do by form of contract.

          A lot of critism architects and designers get from trades is unwarranted and people are more likely to know tradies than an architect. But this isn’t the place to bag on tradies noting the death and it being 100% not their fault.

          Prior to design and construct architects used to do a whole lot more, including the project management, a lot of these roles an architect did have been broken away into specialist roles . Without having the need to be specialised like pool inspectors. Enough about architects.

          A managing contractor would have been contracted to build and manage the works. The buck stops with them. Despite pressure on programme it is their responsibility to maintain a safe site at all times. This is not complex design and can’t see it as a structural fault, someone has been negligent .

  1. migtronixMEMBER

    None of you throwing a bet on Trump are doing geopol much less pol, you’re all just side line aholes who “hate the left” – probably because you’re all white male privileged jerks!

    I am doing geopol & pol

    There’s no wall
    NATO is still there
    Hillarys emails are wherever they are if Trump exposed them he’d be Assanged
    The swap smells like hamburgers
    The lefties have more sympathy than ever.

    FUALL

  2. Canberra shutins! As previously mentioned. Thursday 15th is the date of the next meeting of the Loyal non-Royal Society of Furious Oaths, Patriotic Ranting, Loose Talk and Ill-advised Quips (ACT chapter). In other words we talk about MB stuff and peel back the pub’s paintwork with the force of our unassailable logic and blistering vocabulary.

    Let LSWCHP or me know if you’re interested and we’ll keep an eye out for you. Venue is 8pm, Meating Room, Weston. (No, Harry – despite the name, it is a legit, regular bar. Fair point though).

      • noice. Love a good contrarian indicator, for free, at large and in plain view, just keep everyone betting the other way and then woosh wtf happened …… damn it the narrative was wrong boo hoo. Apologies if I offend anyone, just having fun with the circ de USA.

    • Ronin8317MEMBER

      The reality is nobody have any idea how it’ll turn out because the polls are totally random in the swing states. Trump would have locked up Florida if he nominated Lagoa instead of Barrett, but he didn’t. He nominated Barrett, got COVID-19 because of it, so it’s now a toss up.

      • migtronixMEMBER

        It’s not a toss up!!!! Nobody but boomers are voting for this idiot and there’s less of them goddammit!

        Who the f#@% cares that nobody turns out to Biden rallies, they know what they’re getting – all that matters is he’s there. FFS people Hillary ran the great feminist hope campaign, didn’t get anyone out to see her, and barely lost!

        PEOPLE HATE TRUMP MORE THAN CLINTON, PEOPLE!

    • There’s a long history of dodgey NSW pollies. I remember reading a book about Bob Askin yonks ago. Going on some of the claims made there NSW has cleaned itself up remarkably well and the bin chicken is indeed a saint.

      • desmodromicMEMBER

        Askin was a petty crim compared to the corruption that came with the Wran government. In the Wran era the police were the problem not the solution. They were violent, bigoted and corrupt. I knew where the illegal casinos were in Sydney, so certainly the police did. Political hard cases,such as the leader of the National Front, and gangland crims were mysteriously found dead in lanes in Redfern. We know that Detective Rogerson was the perpetrator in some cases but others were never solved. I was offered government contracts before they went to tender, as well as enough funds to establish the business. Presumably my boss at the time would get his cut somewhere in the transaction. In those days, for the well connected a government contract was a license to print money. This corrupt culture has never quite gone away since and appears to be exploited by the Chinese and others. We have a problem of our own making.

  3. migtronixMEMBER

    Gunna provides culture, not Stewie.

    Gunna gives us the motivation to seek that long lost whimsy, what is Australia? He does so by letting me, I dare not chain others to my cause, repose against the plastic art background of some featured oil canvas, or water colour – I feel like sculpture never penetrates Australian artistic lore – and I only wish he’d supplant it with poetry, besides.

    Iost my train of thought…

  4. For what it’s worth Mig, I’ve noticed that the usual brains trust of talkbackers here at MB has grown collectively and steadily quieter as once again, their main man Trump, continues on his downward trajectory in the polls.

    • I’ve never confused a human tool user problem with incentives baked in an intrinsic issue with inanimate objects.

      That link above from NEP and Bill Black might assist.

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