Sunday Supplement: 11 October 2020

‘Midday, the Wimmera’ 1949, Arthur Boyd, Art Gallery of NSW

 

Macro & Markets

 

Americas

 

Asia

 

Europe

 

Terra Specufestorus

 

…and furthermore…

 

Comments

    • Also I the brush strokes in the cloud up the top RHS.

      Obviously you are not supposed to focus on that.

      Like Vincent, a lot of his pics you have to focus on the centre and let your peripheral vision look after the rest,

        • MountainGuinMEMBER

          On every cloud, went to a landscaping supply store in ACT yesterday, owner said his shop and nearby competitors were having best year in ages. Similar to a roofing supply store as roof repairs from the big 20 January Hail storm are ongoing, employees even joking they would quit if more storms occurred.

      • He did read the Asian text though I think it was the Indian vedas and upanishads, not sure about the Chinese texts though he was so widely read he must have come across it. But I do recall (according to his own writings) he came to his philosophical conclusions before reading the Asian texts, and was pleasantly surprised when he found out his philosophy accorded with such ancient wise writings. If only I could write like him…

        • Apparently he came across the Buddhist and other Asian texts after he’d worked out his view. The Stoics and the Buddhists overlap in quite a few areas as well. It’s almost as if humans aren’t as different as many would like to make out.

    • That is what is (was) making Australia.
      Now those men, women, and children are not out there for sport.
      They are out there to grow wool, and this is a part of the day’s work in the wool industry.
      The writer has tried to show what the life on the back stations really is for the men and the women who live and work there.
      The wool industry turns out wool and meat and tallow and glue and cold cream, and many other things.
      But the most important things it turns out, are men.

    • reusachtigeMEMBER

      Oh wow, you’re a commie! Everything runs better if run for a profit. All beaches should be pay-per-use so that the best service can be given.

      Big beaches should have competing enterprises in separate sections thus allowing better choice and options. So much better than a boring underutilized public beach.

      I hate how on our beaches you can’t even hire sun-lounges and be served pineapple drinks by blacks like in better countries around the world.

    • And here I was thinking that Common Law ensured that all beaches were publicly accessible in Australia. Just another move by au towards the way the US does things where they have private beaches everywhere to keep the rifff-raff out.

      • Totes BeWokeMEMBER

        Yes, I remember riparian zones, and access to the water being unimpeded in law.

        Its quite a precedent if it goes ahead. That petition has near 25k signatures.

    • Just another thing to add to the list of life’s certainties — ‘they’ will always need more.

      A good mate of mine who works at QLD Gubmint has been buried for years, furiously selling off state owned property to developers — and still the debts pile up.

      Tick, tock …. make yourself look as poor as possible before it’s too late.

  1. pfh007.comMEMBER

    From links above.

    Now the ECB are thinking about a Central Bank Digital Currency.

    https://www.dw.com/en/the-euro-prepares-for-a-digital-makeover/a-55216942

    Will they decide that the threat to private bank privileges are too great as the RBA has decided.

    https://theglass-pyramid.com/2020/10/08/rba-watch-central-bank-digital-currency-on-the-way/

    Or will they follow the Bank of China towards a central bank monopoly.

    https://www.abc.net.au/news/2020-10-10/china-to-issue-10-million-digital-yuan-in-first-public-test/12750320

    Allowing a hundred monetary flowers to bloom remains the best option.

    https://theglass-pyramid.com/2020/08/13/myrba-letting-100-monetary-flowers-bloom/

    • pfh007.comMEMBER

      Imagine the scenario where China ramps up its Central Bank Digital Currency and permits some chosen foreigners to use it to complete transactions. Say axis of evil countries or others who don’t toe the western imperial line.

      Transactions completed completely outside the US dollar and US banking system.

      How long before we will be told that those “secret” transactions are by drug runners, arms traders and other enemies of the Free World?

      How long before HSBC and other western banks complain that China is stealing their best customers

      How long before we are told we must destroy that competing monetary system before it destroys ours?

      (Considering ours is privatised and held together with brown paper and glue there is some force to that argument)

      The issue of Central Bank Digital Currencies is likely to the next big thing once people realise that the Chinese understand exactly what it means.

      Hold on to your hats folks. It will be a bumpy road.

      We may regret not undertaking monetary reform years ago.

      • More likely it would speed up monetary reform in Western countries. Western banks have profited from money laundering for years and not tracked where it came from or where it went. China would follow the money even if it wasn’t stopped. Such information is likely to be useful.

    • Riddle me this though:
      Will the average punter have any idea how much of this digital currency is being created by the CB?

      Because if they don’t, then how can any ‘trust’ exist? Fiat currencies can only sustain themselves as long as there’s trust. If no one one knows what the authorities are actually doing (how much currency they’re printing) then you’re going to end up with serious inflation, followed by hyper-inflation

      • pfh007.comMEMBER

        Dominic,

        What is difficult about working out how much money has been created?

        We are talking about the central bank balance sheet.

        Do you think they will just issue false balance sheets?

        • I wasn’t challenging that at all – I was merely saying that it’ll only work if the information is public.

          And accurate.

          But I remain anti the idea of a cash-ban because it means that everyone’s money becomes trapped in the system – and subject to occasional raids by the Gubmint. A Supertax perhaps justified by ‘special circumstances’. We all know this is odds on to happen.

          • pfh007.comMEMBER

            I agree that the public must have confidence that the records of the central bank are accurate but I think the odds of those records being more accurate and reliable, of those our dodgy private banking sector, are pretty good.

            When it comes to paper work that misleads and deceives our private banker buddies have plenty of form as Mr Hayne noted.

            As for a ban on cash I completely agree but I fear that is exactly what our bankers want because cash is the ONLY central bank liabilities that the public are permitted to use and they hate any competition for their private bank liabilities as money. What is more I think it is clear that the RBA will not lose a moments sleep if the private banks get what they want.

            As I noted in this post the only sensible approach is to allow a hundred monetary flowers to bloom.

            https://theglass-pyramid.com/2020/08/13/myrba-letting-100-monetary-flowers-bloom/

            “..MyRBA is about allowing a hundred monetary flowers to bloom. The MyRBA 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 “free market” 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…”

    • Lmmao @ American Institute for Economic Research (AIER) and the idea they do anything scientific.

      Know wonder your gnashing of teeth, pulling hair, and branch displays have been dialed up …. the prophecy is coming true – !!!!!!!!!!!!!!! – yet completely fail too reconcile decades of laying the foundations.

      • I have absolutely no idea what you’re talking about

        What has AIER got to do with this ?

        “Know”
        “Too”

        Are you unwell ?
        Is this a satire account ?

        • The Great Barrington Declaration is a proposal, written and signed at the American Institute for Economic Research[1] in Great Barrington, Massachusetts on 4 October 2020 addressing the response to the COVID-19 epidemic.

          Are you a complete imbecile or is just because of your faith you project it on everyone else not in your cult.

          I reiterate that ideological think tank is incapable of anything to do with science due too its overwhelming bias bleeding into everything at onset, worse is it track record of manipulating data to fit a predisposed outcome, and its propensity for Agnotology.

          Anyone can easily look it up and this would additionally explain your behavior from the very beginning of Covid.

          • You are a dead set breather, I mean anyone with any knowledge of mobs like these and their actions in the past and M.O. of using wonky credentials to support their ideological agendas eg. industry mouth pieces ie. tabacoo and FF et al.

            Just a simple Wiki ref should sort it.

            Doubts have been expressed as to whether the posited accelerated arrival at herd immunity is a possibility, together with claims that the approach paid insufficient attention to the potential effects of so-called “Long Covid”.[6] Concerns about the declaration have been issued on behalf of the British Academy of Medical Sciences by its president, Robert Lechler.[7] Martin McKee, professor of European public health at the London School of Hygiene & Tropical Medicine, compared the declaration “the messaging used to undermine public health policies on harmful substances, such as tobacco”.[8]

            Harvard University professor of epidemiology William Hanage criticized the logic of the declaration’s signatories “After pointing out, correctly, the indirect damage caused by the pandemic, they respond that the answer is to increase the direct damage caused by it” and attacked the feasibility of the idea of “Focused Protection” for those vulnerable to severe infection, saying that “stating that you can keep the virus out of places by testing at a time when the White House has an apparently ongoing outbreak should illustrate how likely that is”.[4] Hanage cautioned that uncontrolled infections among the young run the risk of long-term medical effects of the disease.[4] Gregg Gonsalves, epidemiologist at Yale University described the strategy proposed by the declaration was “culling the herd of the sick and disabled” calling it “grotesque”.[9] Arguing nearly half the population is considered to have underlying risk factors for the infection, he advocated for the prevailing quarantine strategy.[9]

            Michael Head, senior research fellow in global health at University of Southampton, said the declaration was “a very bad idea” and doubted if vulnerable people could avoid the virus if it was allowed to spread.[9] He also said “Ultimately, the Barrington Declaration is based on principles that are dangerous to national and global public health”.[9] Associate professor at the University of Leeds school of medicine Stephen Griffin criticized the declaration’s flaws in ethics, logistics, and science, pointing out the risk of long-term effects of infection in even those less vulnerable to severe infection.[10] Cellular biologist of the University of Reading questioned whether herd immunity was possible for SARS-CoV-2: “natural, lasting, protective immunity to the disease would be needed, and we don’t know how effective or long-lasting people’s post-infection immunity will be”.[10]

            On October 9, 2020 several media outlets reported that dozens of obviously bogus names were among the signatures of support for the declaration, including “Mr Banana Rama” and “Dr Johnny Fartpants.”[9][8][11] More than 100 therapists, numerous homeopaths, physiotherapists, massage therapists, and other non-relevant people were found to be signatories, including a performer of Khoomei – a Mongolian style of overtone singing – described as a “therapeutic sound practitioner”.[8]

            A report in the American conservative magazine Washington Examiner reported on independent journalist Nafeez Ahmed’s attempt to expose the petition’s weak verification process, which allowed “anyone to self-verify as a ‘scientist’ signatory”; Ahmed signed the petition by creating a bogus academic persona named “Mad Scientist” and called the declaration “a gigantic fraud”.[12] Ahmed told the Examiner that “it’s simply impossible for the publishers of the declaration to know that it is supported by so-and-so ‘thousands’ of scientists – because it has set up an inherently opaque process that is beyond verification and is, of course, therefore, entirely unscientific”. The petition’s organizers indicated that “perhaps 250 total” hoax signatures had been discovered and removed from the site, and that Ahmed and others had been blocked from making future submissions.[12] In response Jay Bhattacharya regretted that “some people have abused our trust by adding false names”, which he supposed was “inevitable”, but added that “given the volume of correspondence I have received from medical and public health professionals, as well as scientists and epidemiologists, it is clear that a very large number of experts resonate with the message of the declaration and its call for a focused protection policy”.[11] – snip

            You did your self in Comming, early on, by front running data to fit a prescribed and canned narrative and yet you demand others credibility in whatever you post here. When pulled up on it you cry foul and deploy the freedom and liberty tropes, guess what, that has zero application in science.

            Best bit is its self inflicted and not forced …. Bon Appétit …

          • My god

            “Just a simple wiki ref should sort it “

            Are you actually this dumb ?

            That is specifically the focus of the tweet

            Why is the first google result from the “byline times”

            Highly esteemed publication right ?

            Why is it not to think actual website containing the declaration ?
            And the names of professors from the top research institutes in the world who have all signed ?

            Are all of those professors in the employ of the AIER?

            Is the appeal to authority of the two doctors you have quoted superior in some way ?

            If so, why ?

          • Your a joke Comming and there is no room to rhetorically play or game the corner you have painted – yourself into – BTW the wiki is attributed and can be reconciled to its veracity and sources, contra to the methodology AIER mob used.

            Look I really don’t care what symbolism a propaganda mill for vested interests wraps itself in, because at the end of the day, its just industry propaganda, on the other hand, when they start mangling the term science to burnish their perspectives – profit without factoring in externalities – because that is what this *** is *** really about and not science …. I do take exception.

            The idea that you present yourself as someone that has any ethical or moral forbearance is beyond pale and an insult to those that do … the vulgarity of it is quite shocking.

        • Ironically I tried to include the link for the actual website and the spam filter deleted the whole post

          Not even marked for moderation

          Can someone tell me why it would do that ?

          https://g b declaration.org/

          Remove spaces

        • Stewie GriffinMEMBER

          Stop struggling and take this branch – Skippy is like quicksand; once you step in him he’ll gradually suck you in and bury you beneath a word slurry.

          • Good too know what kinda outfit your stripe likes to affiliate with and its agendas … boys … especially the anti democratic part …. then again falsification, manipulation, and out right fabrication of data to fit a concocted ideological narrative is a close second … the force of money to drive an agenda third … and proclaiming it logic [tm] or reason [tm] is just icing on the whole absurd proposition.

  2. There was death in the paddock.
    For nine days the police had followed a man’s footsteps
    Now and again the footmarks would turn back upon themselves.
    Now they would lead round and round a tree.
    Now they would shoot off at right angles.
    At long intervals they had found depressions and scratches in the surface which showed where he had gone down on his hands and knees to lap the dregs of last month’s rain still lying in some claypan.
    And now, at last, after nine days’ hard following, they found towards the evening that the foot- marks began to drag. They could see clearly the long scrape of the toe before each heel-mark.
    They hurried on, following for all they were worth.
    Presently they came to his hat.
    There the dark closed in upon them. It was too black to follow, and they had to camp.
    That night down came the rain.
    And in the morning every trace of the tracks they were following was sponged away as from a slate.
    All day they searched —both the trooper and the black tracker.
    Months later, a boundary rider came upon his coat.
    There were letters in it from some man in Scotland.
    And from that day to this those were all the traces that they found of him.
    Long afterwards a letter came back from the man in Scotland to whom the police had written.
    He was a doctor there, and the dead man’s brother.
    The dead man had been working his way through the far West from station to station on foot
    He had suddenly announced that he meant to walk to Sydney.
    Probably he drank. Certainly he went mad.
    Now, the paddock where that man was lost was not twenty miles out of Menindee. He never got out of the one paddock. It was no bigger than most other western paddocks — ten miles by ten miles.
    And yet either in that paddock or in the one which we drove through next to it, the boundary riders have ridden across, at one time or another, the skeletons of three men, with their swags scattered near them, just as they lay down when they came to the end of their strength.
    The truth is that a great part of New South Wales out-back there — it is marked off into little squares on the map and has well-known names written over it and even roads drawn through it, and therefore is never dreamed of by us city folk as being any different from other civilised lands — is not really as yet a country in which a man can be sure of keeping his life.
    When the first white men pushed out into that country from the fringe of the known country. each man took his life in his hands; and they knew it.
    There was some danger from blacks — not a very great danger.
    The real danger was from the country itself.
    The white men — Burke and Wills and others — went provided against that danger, with stock and water-bags and provisions, even with camels.
    And then, with it all, some- times those men gave out and died.
    For example, the paper this morning — January 31, 1910 — contains the following message.
    It was sent along the wires by one of a party who were making for the Tanami gold-field —which is in a particularly distant and desolate comer. Failed to reach field via Treuer Ranges, got out sixty miles, driven back, no water. Terribly hot, all native wells and holes dried up.
    Frayne (leader) perished while trying to locate water. Made back to line at Barrow Creek. I had to leave loading and ride on, perishing. As a last resource, cut wires and worked north, hoping to meet linesman for repairs.
    Got water on the road.
    Further particulars next station. On the Wool track CW Bean 1910

      • boomengineeringMEMBER

        Yep an enjoyable read.
        Nothing to cull the weak these days. They were the days when men were men and the others perished first ( the men also perished but were last to do so).
        Those Vikings discovering America, those Dutch ship wreck survivors rowing up the West coast to Indonesia.
        Even today the sperm count of the boomers era is more than double of today s young men.

        • Between Gunnedah and Boggabri, overlooking the Namoi River, is a handsome modem homestead built of what seems to be rough-hewn stone. Actually, the blocks are not stone, but clever imitations in concrete. Every block was moulded and squared and dried on the station itself. The walls were built by station labour.
          The floor joists and roof beams, the wainscots and window frames, every atom of woodwork was fitted, joined, mortised by the station carpenter; some of it cut by the station blacksmith at the station sawmill.
          The plans were designed by the station owner.
          Now, imagine a country gentleman in any State in Europe sitting down to plan a house ; and then calling in the groom, butler, and coachman, with a gamekeeper or two, a gardener, and a lodgeman, and suggesting that they should manufatcture and cut and fit the stone walls, floors, roof beams and ceilings, and then build them together into his baronial mansion.
          It is probably literally true that if he did so, the statement of every man who heard him, would be taking as good evidence of his insanity by the judge in the suit of any disappointed relatives who would certainly dispute his will.
          For those men simply could not begin the work; or if they could they would think they couldn’t — which comes to the same thing.
          The Australian, too, has his shortcomings, a full round share of them, and one would be blind to deny it.
          One would be equally blind not to see that he possesses one virtue in a degree in which, as far as one has experience of them, no other people possesses it.
          He can do anything. He is aware of it.
          At the little centre of industry on any ordinary sheep run, in the ordinary day’s work there will be men making wagons, shafts, iron hinges, gates, steam sawing, engine driving, forging iron, some- times even moulding it.
          The man who can do most of these things will not stick at a bit of saddling, will make a whip if necessary, or sole a boot.
          He will turn soap-boxes into furniture, golden syrup tins into quart pots, kerosene tins into anything.
          The genius of the Australian is that he can make something out of nothing.
          Out on his sheep runs, ever since the time of the shepherds, he has had to do without the best things, because they don’t exist there.
          So he has made the next best do, and where even they did not exist of themselves he has manufactured them out of things one would have thought impossible for any use at all
          He has done it for so long that it has become much more than an art. It is long since a part of his character, the most valuable part of it.
          And the man who has that virtue in a degree to which no other Australian approaches, is the station tradesman.
          Next to him is the station hand. CWB

          • boomengineeringMEMBER

            Necessity the mother of invention. All nations have prevalent traits, and Aussies are best at inventing and making stuff on a shoestring budget.
            Came across South African excellent engineering tools never seen before due to the sanctions .
            Visited fellow MBer LeMon3’s farm west of Taree and your post reminiscent with his acquired machines and tools..

          • I'll have anotherMEMBER

            Am familiar with country between Boggabri and Gunnedah, weather so dry you can’t think straight after working in it for 10 or 20 minutes. Not the sort of place most would choose to settle and definitely not where you want to be making blocks from scratch.
            Those blokes were tough bastards.

          • Ace, thanks for both posts. I worked briefly on a property like the one described – a marvelous old mansion made of the concrete stone described, outside Warren, further out from Dubbo, Still standing strong 80-100 years later, but the land is desolate beyond description.

  3. Totes BeWokeMEMBER

    https://www.smh.com.au/politics/federal/jacqui-lambie-battler-from-burnie-is-a-thorn-in-the-coalition-s-side-20201009-p563nn.html

    Independents are Australia’s best chance of taking our democracy back from big Australia LNP and Labor.

    …..”outcome of an opinion poll she set up through her personal website. She said more than 100,000 people voted in the poll, of whom 96 per cent opposed the bill. She has hinted at using this format to guide her decision-making in the future”…..

    Not donors, not her property portfolio, not her post politics opportunity……but instead…..What her constituents want.

    How refreshing. How democratic. How destructive to the treasonous LNP and Labor parties.

    Derail the selling out of Australia. Vote Independent.

    • United, they stand. Divided, we fall.
      Haven’t we all tried Voting Independent at some idealistic stage of our lives, just to see our hopes drift away on the breeze come tally night?
      Of course, you have to vote, or else. So maybe an Independent Vote carries as much weight as one not cast, elsewhere.

      • Totes BeWokeMEMBER

        Not if we’re coordinated and organised.

        The status quo is not an option. We’re losing our country.

        It’s time Australians understood LNP, Labor, Greens, MSM, regulators etc etc are all the same thing, and have all been corrupted to enrich themselves at the expense of the rest of us.

        • boomengineeringMEMBER

          Losing our country aliright, the wife just read the riot act to some Asian kids throwing stones at the one remaining duckling on Narrabeen lake after our cafe breakie park bench chill out.

          • Totes BeWokeMEMBER

            Funny you say that. Saw “The Gentleman” last night on Netflix (I think), and there was a line “duck eating cnt”. Was funny. “Pangolin eating” doesn’t roll off the tongue as well.

            Great movie BTW.

          • 2 weeks ago we started with 5 ducklings at the pool when we reopened. We lost one (drowned in an inlet) and we think the crows got the remaining 4 so we are now duckling-less. We’d named Mum (forgot her name but it began with a D) and Dad (Darren) and the kids too (when there were 4, dead one was DD for dead duckling). Vale: Dillon, Delilah, Diarmuid and Daisy.

    • Agreed, but how “Independent” is Ïndependent”. Last time I looked in the Federal Senate, there was only 1 Senator who labelled themselves as Independent, being Rex Patrick. All other “non-aligned” Senators were Jacqui Lambie (Jacqui Lambie Network), Stirling Griff (Centre Alliance), Pauline Hanson (Pauline Hanson One Nation) and Malcolm Roberts Pauline Hanson One Nation). By non-aligned, I mean not ALP, LP, The Nats, The Greens or CLP. So 1 question and 1 opinion: How truly Independent are Independents? And, Amongst Independents, be careful of the “nutters”.

    • Vote independent … make sure they oppose the mass immigration ‘brown man’ immigration program, or vote One Nation.
      If these people aren’t on your voting paper – get your name marked off, but DON’T vote.
      If a large proportion of the voting public do this, the media should then discuss the problem and the main traitor parties may alter their imposed treacherous immigration policies to get this large block of votes.
      Otherwise a Great Orator or revolution are the only answer.

  4. Stewie GriffinMEMBER

    Why I hate Vox in one article:

    The indirect fiscal benefits of low-skilled immigration

    In a new paper (Colas and Sachs 2020), we challenge this perception of low-skilled immigrants as a fiscal burden. We enrich the debate by considering indirect fiscal effects that occur in general equilibrium through changes in native wages and native labour supply induced by low-skilled immigration

    But how do they get there?

    To reach this conclusion, we… benchmark model we consider is the so-called ‘canonical model’ of the labour market (Acemoglu and Autor 2011) where high-school (low-skilled) and college-educated (high-skilled) labour are imperfectly substitutable inputs in production and individuals with different productivity levels are perfect substitutes within these skill levels. We model labour supply responses of natives along both the extensive participation margin and the intensive effort or hours of work margin and allow for labour supply elasticities to differ with income, gender, and family status.

    Formalising and quantifying the fiscal effect of a low-skilled immigrant in such a model is complex: [Edit SG: Thank God it is because otherwise we wouldn’t be able to make complicated calculations to get the answers we want] the low-skilled immigrant will increase the share of low-skilled workers, which will trigger an increase in high-skilled wages and a decrease in low-skilled wages. These wage changes, in turn, affect labour supply decisions of natives which, in turn, creates another round of wage changes… blah, blah, blah…

    SG: then we sprinkle some referable statistics in among our assumptions…
    1. Own-wage elasticities for both skill groups
    2. Income-weighted average of labour supply elasticities for both skill groups
    3. Income-weighted averages of marginal tax rates for both skills groups
    4. Income-weighted averages of the products of marginal tax rates (participation tax rates) and intensive (extensive) margin elasticities for both skill groups.

    https://voxeu.org/article/indirect-fiscal-benefits-low-skilled-immigration

    So basically we have a model, nested in a model, nested in a model, with a number of grand assumptions across each and then sprinkle in a whole heap of verifiable statistics to add credibility. Extract all nasty tasty ingredients like cultural conflict and social impact, by assuming them away, then bake for 4 hours. Serve up in our Neo Globalist magazine for broad consumption at every progressive and Govt intellectual cake sale taking place where it will be ready to be stuffed into whatever continent business marketing lobby paper that needs to be presented to Govt.

    If you can’t find a model or an indicator that explains or correlates to your observation with less backflips, contradictions and complexity, then what your trying to ‘prove’ is either a lie or probably doesn’t exist.

    For the past couple years there is or was a huge scandal going on in the Social Sciences called the “Replication Crisis”, which has basically revolved around all these ‘Progressive’ Social Scientists of the likes various commentators to these MB identify with and preach about, have turned their studies from the unbiased pursuit of science and knowledge into a form of advocacy science – where they make a ridiculous assertion in regards to social behaviour (we know they are ridiculous because they generally go against both common sense and stereotypes) then set out to “prove” their assertion through a series of surveys and/or practical studies…. the media pick it up with great fan fare, and then everyone amazes (openness) at how bigoted and ignorant we were before these studies were done.

    The only thing is, after a while so social scientists, who actually believed in finding out “Why” as opposed to “Advocating on behalf of [insert progressive cause]” got a bit suspicious and decided to see if they could replicate the results, virtually NONE of them have been able to – including the most controversial and pervasive one currently dominating thinking in both education and corporate business ‘training’, that is the ‘Growth Mindset’.

    In my honest opinion EXACTLY the same situation applies with these ‘economic’ studies, they are pure advocacy policy papers, and my money is that every one of these contrived flip-flam papers is as fake as those featuring in the rest of the advocacy sciences.

      • And Vox is just one of an absolute plethora of ‘progressive’ media outlets on the web.

        When alternative views started to be aired on the web and gain lots of traction, progressive lobbies decided they would try and drown them out by creating a veritable blizzard of these things – all parroting similar views.

  5. Totes BeWokeMEMBER

    Multiple coloured-glasses frames on Insiders discussing refugee numbers in the budget and women missing out. Gender gap and everything else bogus leftists talk about.

    Defund the ABC.

      • GunnamattaMEMBER

        +1

        I think an ABC is an essential part of Australias media landscape. I also think the inner Sydney and Melbourne and Canberra virtue signalling needs to go. I think ABC needs to be farmed out to various locations. But particularly to regional cities and outer burbs.

        • PalimpsestMEMBER

          The ironic thing about this is that the continual cutting of the abc has led to centralisation. It is the regions that have been cut first. The country programs. The farming programs that helped translate CSIRO research into actionable income generating behaviours. The reporter that specialised in bushfire reporting has just left. By attacking the ABC we have cut off the feeder network for talent from outside metro Sydney and Melbourne. Instead of supporting the 20% of rural and regional people interested in better practices, we’ve chosen to only support the other 80% with sport. No vision. No regional input. We chose that. Instead of reversing that I see comments that want to double down on the process.

      • Totes BeWokeMEMBER

        Good call. Yes, complete reform would be preferable i guess.

        ATM, its like a parody. They are as extreme left as I encounter anywhere I’ve ever been. The whole lot of them. Every single one is more left than pretty much every person I’ve ever met.

        It’s like a nightmare being surrounded by show after show after show full of drsmithy’s.

        Here’s tonight’s episode of QandA with host drsmithy, please welcome our guests drsmithy, drsmithy, drsmithy and drsmithy.

        • Totes BeWokeMEMBER

          There should be no bias.

          It should reflect the political leaning of taxpayers who fund it. i.e. broad unbiased reporting of a BROAD range of facts.

          ATM, its just woke garbage. Add some big Australia support and it’s a formula to hand our kids futures to elites and the world’s poor people.

          What a combination.

          Having said all that, of course individuals are going to have bias, but ATM its all one way IMO.

          • The trendy cultural fun! Q&A stuff is just to distract from the fact that the ABC has an obvious LNP bias on all material economic and social issues.
            eg see that 7.30 report interview with Albo during the week.
            They repeat the same LNP lines over and over
            “How are you going to pay for it”
            “How are you going to pay for it”
            Never mention the unemployed. Never mention quality of services, inequality ie anything that matters.
            Yet people somehow think they have a left wing bias. Bizarre.

          • Totes BeWokeMEMBER

            If anyone (Labor, Greens, ABC, other MSM) opposed immigration it’d be all over for LNP.

            ABC, Labor and Greens are as much the enemy as as are LNP.

            Whatever the ABC are, left, right, doesn’t really matter, they’re not in Australia’s interests, and EVERYONE including you should be calling for it to be reformed or defunded.

            Ever wondered why Labor never complain about what you’ve observed?

      • I think you could be on to something – but let’s face it, the ABC is infested with these types and unlikely to go voluntarily.

        The thought of allowing some ‘regionals’ – people they spend so much time patronising – to run the joint would horrify them. Superior intellects, you understand 😉

  6. A couple of articles stand out today – Chinese doing well post Covid, but tit for tat trade war to escalate. Outward aggression looms in the form of a Taiwan war in the next few years. But so does collapse into the middle income trap as their demographics deteriorate.

    How will the one child families cope with body bags filled with soldiers? How will China’s economy cope with lost markets, manufacturing shifting to other low cost nations, a shrinking workforce, trade barriers and a potential shock of casualties in an ideologically driven war?

    Win, but it is pyrrhic due to internal contradictions. Lose the war and lose political legitimacy.

    Macrobusiness has it right. The CCP is a self destructive cult which will be undone by hypocrisy like the NSDAP.

    • Someone ElseMEMBER

      A very good point.

      The loss of the only sons would culturally and economically devastate chinese families.

      Imagine the unrest of 10’s of thousands of dragon mothers, with literally nothing to lose, publicly rage-mourning the loss of their little emperors. The CCP is dumb enough to send in the tanks and china would burn.

      • Germany adopted blitzkrieg as it’s strategy, which hinges on overwhelming technological sophistication. This worked until it didn’t at Stalingrad.

        Then the stupidity of the strategy was exposed – built around resource intensive technological superiority when you had little iron and no oil, while depleting your workforce allowing your opponents to catch up and surpass you.

        I see something similar unfolding with china. They have certain strengths where they dominate. But behind that lies weakness.

        For all the warships they are building, when did they last make a decent gas turbine? Helicopter? Maritime fighter? When have they ever put their amphibious doctrine under any real stress?

    • They have a Chinese housing bubble wobble to distract from. Some sounds so familiar.

      “When the bubble does pop, the wreckage will be huge. Home ownership in China’s cities has reached 96%, according a report released by the central bank, with many families owning more than one property. But in the current market, if it can be said that buying a house is difficult, then selling one is near impossible.

      After decades of development, buyers in the market have formed a basic psychological expectation of “buying up and not buying down”. And with house prices rising inexorably in the past 20 years, the trend has been only to buy, and buy more.”

      https://www.asiatimesfinancial.com/tears-and-fears-as-new-property-bubble-wobbles

  7. The budget giveth and taketh. Plebs who voted for ScoMo can enjoy the hidden tax increase!

    https://www.theguardian.com/business/commentisfree/2020/oct/11/the-federal-budget-reveals-an-ideology-that-is-set-to-kill-any-recovery-just-as-it-is-getting-started

    The budget papers are of course utterly riddled with spin. For example 2017-18 was used as the base year for tax cuts which meant all figures included last year’s cuts. But nowhere was any table showing next year’s situation when the $1,080 low and middle income tax offset is removed.

    Next year workers on between $45,000 and $90,000 will actually be getting a $1,080 tax rise. Enjoy!

  8. TailorTrashMEMBER

    That article on bias at the beeb could easily be about the ABC
    …and ya gotta love this

    “The director general wants to widen newsroom diversity
    Including finding people from wh1te working class backgrounds.

    Good luck with that …Thought diversity did not apply to wh1te people never mind from the backstreets of Huddersfield or Grimsby .

    • The beeb are shocking these days — in a few years from now there won’t be a wh1te male left on the payroll (and those that are will be [email protected], trans or working class made good). By all means keep it going but at least give people the choice as to whether they want to fund it. Then we’ll find out who truly cares.

      • There’ll still be plenty of ex-public school Oxbridge types with names like Giles in BBC management and the top brass in Whitehall. They’re the untouchables of English society.

        • Ironic that people like that should be running the BBC — and live in obscenely expensive country homes or mansions in Notting Hill. ‘Elites’ instructing the plebs what to think

    • Not sure what ABC you’re seeing, but recently the ABC ran propaganda pieces on Morrison’s chicken coup and Tim Smith, a moronic Liberal set to challenge for the leadership of the opposition.

      Ita brought in ex Sky News anchor David Speers to run Insiders and the amount of d**k sucking has to be seen to be believed. Leigh Sales frequently gives LNP politicians a free pass – these overpaid hacks two should be ridiculed, harassed and mocked out of a job, but the problem with the left is that they are too keen to forgive after a single contrary performance.

  9. Stewie GriffinMEMBER

    I’ve been reading a few of these “Central banks are weighing their own digital currencies – this is what they could look like.” articles lately, across both the msm and the ZH’s.

    The thing is when you dive into them the question of “this is what they could look like” inevitably just deals with some aspect of legal of Govt regulation, that frankly isn’t that interesting or relevant because most of the existing rules required for their governance already exist within existing Securities laws or ALM/ATF frameworks – it is just a matter of enforcement, which authorities are slowly getting around to doing now they’ve developed a better understanding of the product.

    https://www.cnbc.com/2020/10/09/central-banks-lay-out-a-framework-for-digital-currencies.html

    But from a practical perspective What are Govt digital currencies going to look like? these articles come up short. So what would they look like? Now taking a big assumption and assuming that they’re going to be on a blockchain of some sort then one of the use case requirements is that they will have to be cheap to use, which is what they mentioned in the article:

    They said digital currencies should also be secure, as cheap as possible — if not free — to use and “have an appropriate role for the private sector.”

    The problem is, as I’ve mentioned before that the use of a purpose built, single use blockchain has a number of draw backs. Firstly, if the same organisation maintains and controls it, the “added security” of using the blockchain is virtually nil – it is just the same level of security as having an account maintained in the same organisation under an Oracle database.

    The second major issue is it’s use case – the value of any crypto currency should be dictated by its economic use case. The problem with the Multiple Crypto chain thesis, being one crypto currency for each use case, is that virtually no use case alone can sustain or justify the IT logistics that go into supporting it. The ONLY exception is a blockchain that allows Multiple use cases to take place on it – in this respect the necessary condition for that to occur is data carriage and an ability to scale as the system grows.

    This single use use case may not be as big a problem for central banks, when they can port their entire financial system onto a blockchain that they control…. but one of the supposed synergies that distributed blockchains are meant to enable is the instantaneous ability to make payment anywhere in the world, and intergrated commerce to take place on it.

    Now for the sake of imagining what a (one of many possible configurations of) digital currency may look like, lets assume that they want one that is on a blockchain and is on a public blockchain, meaning it is compatible to all other businesses operating on that blockchain. What might it look like? Well actually these forms of digital cash already exist.

    In the 1950’s and 1960’s the Marshal plan and then the Petro dollar resulted in vast accummulations of USD outside of the US, which came to be termed Eurodollars. They were issued by the US, but used for commerce in nations and companies outside of the US, for transactions and commerce whose only relationship to the US was the use of the USD.

    In a similar fashion an industry of stable coins or tokens have started to flourish in the crypto space – most famous of these is USDT or “Tether” which is essentially a dodgy crypto money market fund, controlled by incredibly shady characters who also happen to control a very shady Crypto Exchange. However…. there are no also a number of other competitors bUSD, USDJ and USDC.

    USDC is a similar product as USDT only it is issued by a much more reputable organisation, Circle Group, which were at one point owned by Goldman Sachs a few years ago, before GS got the colly-wobbles with some reg changes and cast it adrift again (for the moment). Now it is possible to make payments for various goods and services using USDC which sit outside of cryto exchanges – which has been the primary area that so called ‘stable coins’ have until recently been used.

    Now the thing is USDC is NOT a blockchain – it is actually a token that sits ontop of a blockchain. USDT and USDC are both found as tokens on block chains directly affiliated with a blockchain, as ERC-20 tokens eg ETH for USDT and USDC or indirectly, like BTC via the Omi protocol for USDT.

    The problem is that currently both of those protocols can’t scale, with transaction fee usage to send even small amounts of USDT or USDC across those blockchain networks, actually costing many dollars once you convert the fees being charged in ETH or BTC across their respective blockchains.

    Recently BSV, the original Satohsi form of Bitcoin that has uncapped data blocksizes and which results in miners bidding for transactions as opposed to users bidding for available block space, has activated token functionality across the chain, able to effect a recordable transaction for thousandths of a cent, and very likely continue to get cheaper. Consequently the very first practical use case token, in this case the stable coin USDC, has now been launched onto the BSV blockchain:

    https://coingeek.com/usdc-is-bitcoins-first-stablecoin/

    So basically if you want to see what a digital currency will actually end up looking like, I’d point you to existing digital currencies that are already in operation on existing blockchains – as to which blockchain will eventually win out in terms of carrying the bulk of the transaction loads generated from digital currencies use, it will be the blockchain that provides the cheapest transaction cost while meeting expected security and ALM/ATF requirements.

    The crypto currency itself eventually becomes irrelevant for online commerce, it should fad into the background like plumbing or the SWIFT inter bank system, used every day to send money across it. The correct way to view the crypto currency of a public blockchain is like a commodity that is used to securely send and record transactions on a global ledger, all the commerce will eventually take place above the crypto currency as issued tokens, while a simple micro-transaction of crypto is used or consumed in sending and recording that overlaying transaction.

    • https://thecorrespondent.com/655/blockchain-the-amazing-solution-for-almost-nothing/86649455475-f933fe63

      “Haha, this is what we said years ago, that this was a technology searching for an application, and money wasn’t it, and also pointed out there was very little real-world need for irrevocable transactions, which is what blockchain creates.”

      Prosecuted futures is another term that comes to mind, so, the premise was again – ????? – oh yeah … some ideological perspective plucked from a vacuum that completely refused to acknowledge realities outside its ***extremely*** narrow agenda.

      Next thing you know and yours are going to be accused of cultural misappropriation from things constantly blowing up in your faces … rim shot …

      • Stewie GriffinMEMBER

        Excellent, I’m glad you responded, your uninformed statement gives me something further to expound upon, and with my foot still heavily bandaged and unable to do much else, let me show you how to really bury someone under a word slurry.

        Let me begin firstly with this:

        “irrevocable transactions, which is what blockchain creates”

        You don’t understand, irrevocable transactions are not a problem, because it is a ledger you simply reverse the transaction – the only difference is you have an irrevocable record of it occurring, first of it being moved then of it being reversed – viewable, publicly and trust verifiably.

        Besides a blockchain that operates within the law will be required to uphold the law – if coins are ‘stolen’ then they can be immediately traced and frozen and by agreement with miners selectively reversed. This nonsense about a decentralised blockchain being permanently irrevocable is miss-information by those who don’t understand the technology.

        Digital currency and blockchain technology serve a purpose in that they allow micro-transactions to occur. It isn’t revolutionary to send $1m across the globe, which is what BTC’ers get so excited about, what is revolutionary is being able to send a couple cents. This opens up a whole suite of different business opportunities that essentially amount to pricing and charging for miniscule pieces of data, that are uneconomic to pay or engage in under existing payment technologies.

        For example in the past I’ve suggested the some blogging sites would move to a user pays system, where articles are paid for on an individual basis, or where it is possible to tip the author a few cents in order to show your appreciation. This could be the author of the article or even extend to commentators in the comments section below.

        This technology is now available through various platform providers, for example ‘PowPing’

        https://powping.com/posts/ef72d7cb5e0ce6a7457dffc79f9c17e791cc50d18f049d5e89736c624d805a04

        The sum economy of the article is captured at the top – a mere $31.49 when I checked. What is new here is that micropayments, in cents, are being sent all around the world – sending millions of dollars to the otherside of the world, which is what BTC does, isn’t that new, but sending a couple cents is, which is what BSV does.

        Now currently this payment and tipping process is still reliant on BSV, that is the currency that the tipping is denominated in, but there is no reason why it will remain BSV – now that BSV can carry tokens on the chain you can effectively make payment for any currency you choose, USDT, USDC, USDJ or even in other crypto currencies which have been ‘Wrapped’ within the BSV chain, like BTC and ETH – since it is so hard to transact on those two chains cheaply, you can effectively transact in BTC or ETH that has been ‘wrapped’ and which will be carried and recorded on the BSV chain, for thousandths of a cent as opposed to multiples of dollars if you were to do so on the original BTC or ETH chains.

        The thing is as more currencies move across to blockchains as tokens, then wallet providers will also start providing services for storing and sending the tokens, just like many Ether wallets account for and store ERC-20 tokens… and that is when things start to get interesting, as well as being the process by which I say the most successful blockchain technology will eventually fade into the background as plumbing.

        As mentioned in the original article I was responding to, one of the main issues with whatever cryptocurrency or blockchain that succeeds, is that it will have to be ALM compliant. But this is not just an issue for crypto currencies, ALM laws affect ALL business that operate in the online space – one of the biggest hurdles for any online business is arranging and setting up the online payments process to conduct their business, think Subscribing to MB.

        This process of customer onboarding is like a funnel, in terms of how people interact with it:

        1. Locate Website
        2. Interact/Engage
        3. Register as user
        4. Move Funds

        At each stage of the above the number of people moving through to the next layer is reduced, a lot of people might initially find the site but few ultimately end up making it through to paying the online business bills, because each stage represents a small hurdle that must be overcome unless you have what is called a ‘determined customer.’

        The benefit of an intergrated online internet wallet is that it effectively breaks the funnel into two steps, user interacts, user pays. It outsources the registration process to the initial wallet provider and instead of having to ensure the existence of the user and that it isn’t a fraud, instant internet money is transacted. One of the best intergrated wallets out there is ‘Money Button’ which un-coincidentally has just been taken over by a venture capital firm operating in this space.

        This phenomena is neatly laid out in this article by an online gambling company speculating on why a particular merger in this space has taken place:

        https://blog.peergame.com/2020/10/05/what-moneybuttons-acquisition-means-to-bsv/

        If nothing else I have linked or posted or commented on today, the above blog article by Peer Game is very interesting and worth the time to consider in terms of how blockchain and crypto can change one of the fundamental hurdles in conducting business online.

        • Please with the sell side PR Stewie … most these sorts have absolutely no experience or knowledge of contracts in the world, never the less the market penetration of devices to facilitate such a architecture, especially from scratch.

          LMMAO at the years needed to set up and then the years, more like decades to tweak, without institutional memory, as bad, as those that thought they could take dominate market share from the oven – stove top with the microwave.

          Better yet is those that wobble on about globalists, when the whole agenda behind the above is globalist at onset.

          Here try listing to someone that has no incentives one way or the other ….

          “I was in the back of the room during an AI meetup here in the valley. Started chatting with who turned out to be a VC analyst sitting next to me. Blockchain came up and my opinion was asked. Response was basically – I didn’t get it. Blockchain wouldn’t work for micro-transactions (the original target) due to costs, and for most other proposed applications, standard databases worked just as well.

          In the end though, I am not sure who understood what was going on. The end of the article points this out – you only need to learn how to sell”

          Yet at the end of the day its just glorified DBMS and why would anyone be compelled to be exposed to all that risk and cost, I mean cough … Oracle … but yeah some mates do give back rubs I hear.

          • Stewie GriffinMEMBER

            “Response was basically – I didn’t get it. Blockchain wouldn’t work for micro-transactions (the original target) due to costs, and for most other proposed applications, standard databases worked just as well.

            FYI Currently the standard price of a transaction fee that is set by the miners is 1 satoshi/byte (0.00000001 BSV). On average this results in less than 0.0001 USD in transaction fees per transaction irrespective of the monetary value that is being sent.

            https://bitinfocharts.com/comparison/bitcoin%20sv-transactionfees.html

            You can effectively irrevocably record a transaction record, for around 1/1000th of a cent. This is many orders of magnitude lower than what your can record a financial transaction using any other means.

          • Stewie GriffinMEMBER

            …apologies, an extra zero in there, meant 100th of a cent. But the floor is constantly being bidded lower.

          • Dude that is hilarious because its got zero depth, calling it a market at this point is absurd, so whats your point again and how is it relative to all the other risk factors I mentioned.

          • Stewie GriffinMEMBER

            My comments were in reference to the article, and “What form a CB digital currency might take?” None of your points had any relevance other than how hard it will be in order to gain adoption and be intergrated into the existing system, which I mentioned in response to [email protected]

            My only response in that regards is that eventually the economics and the order of magnitude savings from cents to 1/100ths or 1/1000ths of a cent, will ensure that it is adopted. BTW – nothing else has solved the double spend problem of internet cash other than crypto. The only other payment channels are through existing processes, which as I keep saying, are many orders of magnitude higher.

          • You have zero abilities to declare that it will be instituted, cost alone is not risk, let alone the uncertainty, your ignorance about how the other stuff effects implementation is not reflect of its relevance one way or another. Its just you or a bad case of ignoring anything which messes with your sales pitch.

            Just from the perspective of the fail rate of large IT projects – alone – make your proclamations detached from any observable history, whack on the fail rate of the agency behind it all and then your into absurd territory.

        • pfh007.comMEMBER

          Stewie,

          No need to overcomplicate the issue with technology as we already have Central Bank Digital Currencies and they are used everyday of the week.

          Central Banks run a set of digital accounts which only the banks are permitted to use and that is as digital as it gets.

          Does a a digital account qualify as a currency? The RBA seems to think so.

          “..Account-based or token-based?

          Broadly speaking, a retail CBDC could be structured as an ‘account-based’ or a ‘token-based’ system, or some combination of the two.

          An account-based system would require the keeping of a record of balances and transactions of all holders of the CBDC. Transactions would involve transferring CBDC balances from one account to another and would depend on the ability to verify that a payer had the authority to use the account and that they had a sufficient balance in their account. Because the balance in a retail CBDC account would be a claim on the central bank, this model can be thought of as the equivalent of every citizen being offered a deposit account with the central bank, even though the central bank might not be responsible for user-facing and account-servicing functions.

          By contrast, a token-based CBDC system would involve a type of digital token issued by and representing a claim on the central bank, and would effectively function as the digital equivalent of a banknote that could be transferred electronically from one holder to another. Such tokens would – like banknotes – be bearer instruments, meaning that whoever ‘holds’ the tokens at a given point in time would be presumed to own them, rather than there being a record of account balances. Transactions in token-based CBDC might only depend on the ability to verify the authenticity of the token (to avoid counterfeits) rather than establishing the account holder’s identity.[8] CBDC tokens could be stored on devices, such as mobile phones or some kind of chip-based card, and move from one device to another when there is a transaction. A possible implication of a token-based CBDC is that it would allow payments to occur without the involvement of a central party, which might be an advantage in an offline environment.

          Rather than a pure token-based or account-based system, a hybrid system would also be possible. This could involve both device-to-device token transfers between users and also some ongoing or periodic communication between devices and the central entity that had issued the tokens, allowing the creation of a record of transactions and balances corresponding to those devices. This would enable the detection of counterfeiting of tokens and potentially also the restoration of value in the event that an individual lost their device. It would also permit some degree of traceability of CBDC by relevant authorities…”

          https://www.rba.gov.au/publications/bulletin/2020/sep/retail-central-bank-digital-currency-design-considerations-rationales-and-implications.html

          Certainly people are getting excited about the idea of some sort of digital coin that is a liability of a central bank but NOT an account of the central bank so that a central bank liability transaction can be completed completely independent of the central bank as transactions completed with a note or coin are.

          That might be an exciting thing to dream about but it is really just a distraction from the main event which is non-banks and individual being allowed to operate deposit accounts at the Central Bank or in some other way transact electronically directly using central bank liabilities and NOT the liabilities of a private bank.

          Central Banks in the west (and their apologists) have not seriously considered Central Bank Digital Currencies as the RBA paper makes clear but their hand will be forced once the Chinese start expanding access to central bank liabilities of the PBOC.

          That is assuming that our bankers do not manage to disrupt the Chinese plans before they get too far.

          • Stewie GriffinMEMBER

            Hi Pfh, glad for a sensible question. There are a multitude of different possibilities that the form of a digital currency may take. What I was giving an example of was “What are Govt digital currencies going to look like assuming that they’re going to be on a public blockchain” But more to the point, I was trying to emphasis that one model by which they are implemented, via digital token,already exists, in terms of the stable coins that are already available and being used in commerce.

            In terms of the difference between a central bank account and a digitial currency in the form of a token – 100% agree with the distinction that you have made. Digital currency in the token format that I have described assumes the place of physical cash, and won’t necessarily be in the form of a CB account, although you are quite right, it is possible that a CB could issue a hybrid as both digital cash associated and managed through CB accounts.

            The scope of my discussion with digital currency doesn’t really stray into the economic properties sitting behind it, like MMT, or CB accounts. The scope as far as I’m interested in describing it s a functional aspect, in terms of how the mechanics of how a digital blockchain token is used in commerce, and the transaction cost savings in processing, rather than the big picture economic questions around how the economy is funded, etc.

            Again, if I haven’t made myself clear – the format that digital currencies is still in a state of flux, it hasn’t been settled yet. However, digital currencies as in the form of fiat stable coins already exist and the path of least resistance imho in terms of how this space is going to develop, will be building upon the proto-digitial payment channels currently being established.

            Again, regardless of which chain these tokens end up on, the point is that from a user experience 99% of people won’t even be aware of the financial plumbing that is taking place in the background and upon which these tokens are being moved around on. They will simply think they are spending a digital USD, EUR or AUD from their digital wallet.

            Tell you what, set up a Money Button account and tell me your address – takes all of 3 minutes.

            https://www.moneybutton.com/

          • Stewie GriffinMEMBER

            With the original Money Button registration process you just get a number like [email protected]. Let me know what it is once you’ve set it up. DM me on twitter if you like.

      • Stewie GriffinMEMBER

        The purpose of hashing is simply to keep bad actors from participating in the mining process and mining illegal transactions. If there were no barriers to entry or verifying a transaction, then bad actors would move in. By hasing the miner proves that they’ve expended effort in order to verify the transaction, this discourages bad actors by building a wall of hash power.

        Hashing would not be necessary if Central Banks wanted to issue their own crypto currency, because it would be a private blockchain they would have complete end-to-end control over the chain. Hashing would only become an issue for Central Banks if they issued their digital currency in token form on an existing blockchain.

        The issue with the power bill that secures the network, effectively “hashing” is that it is currently being used to secure the most inefficient network – the BTC network that at its max can only process around 7 transactions per second. It is a humongous waste.

        BSV can currently serve Visa levels of transactions – we’re talking around 2,000 per second (only through its test net atm, as enterprise usage is still far lower, but the capability is there). Because BSV is a small world network there is no theoretical upper bound in terms of what the number of transactions it can process per second are, the limit is basically hardware driven.

        Currently BSV is processing twice the number of transactions for 1% of the hash power used to secure BTC. Basically crypto and proof of work only become a huge energy sink when you throttle the capacity of the network in an effort to extract economic rents from transaction fee usage.

        https://coin.dance/

        The only good point Skippy has made is that there is a huge gap between blockchain technology as I’ve described being adopted and intergrated into existing financial hardware frameworks.

        This is not something that will happen overnight, but the pure economics of making irrevocable records for 1/100ths to 1/1000ths of a cent will ensure that it is eventually adopted by someone, and they will immediately be at a financial advantage as their processing for such transactions will be several orders of magnitude lower then their competitors – even though we are talking fractions of a cent, they are meaningful.

        • You obviously did not read the link I gave because it clearly states this entire venture is built around a false premise of trust.

          “The only thing is that there’s a huge gap between promise and reality. It seems that blockchain sounds best in a PowerPoint slide. Most blockchain projects don’t make it past a press release, an inventory by Bloomberg showed. The Honduran land registry was going to use blockchain. That plan has been shelved.
          The Nasdaq was also going to do something with blockchain. Not happening.
          The Dutch Central Bank then? Nope.
          Out of over 86,000 blockchain projects that had been launched, 92% had been abandoned by the end of 2017, according to consultancy firm Deloitte.

          A bank can reverse a payment request. This is impossible for bitcoin and other cryptocurrencies

          Why are they deciding to stop? Enlightened – and thus former – blockchain developer Mark van Cuijk explained: “You could also use a forklift to put a six-pack of beer on your kitchen counter. But it’s just not very efficient.”

          I’ll list a few of the problems. Firstly: the technology is at loggerheads with European privacy legislation, specifically the right to be forgotten. Once something is in the blockchain, it cannot be removed. For instance, hundreds of links to child abuse material and revenge porn were placed in the bitcoin blockchain by malicious users.

          It’s impossible to remove those.

          Also, in a blockchain you aren’t anonymous, but “pseudonymous”: your identity is linked to a number, and if someone can link your name to that number, you’re screwed. Everything you got up to on that blockchain is visible to everyone.

          The presumed hackers of Hillary Clinton’s email were caught, for instance, because their identity could be linked to bitcoin transactions. A number of researchers from Qatar University were able to ascertain the identities of tens of thousands of bitcoin users fairly easily through social networking sites.
          Other researchers showed how you can de-anonymise many more people through trackers on shopping websites.

          The fact that no one is in charge and nothing can be modified also means that mistakes cannot be corrected. A bank can reverse a payment request. This is impossible for bitcoin and other cryptocurrencies. So anything that has been stolen will stay stolen. There is a continuous stream of hackers targeting bitcoin exchanges and users, and fraudsters launching investment vehicles that are in fact pyramid schemes.
          According to estimates, nearly 15% of all bitcoin has been stolen at some point.
          And it isn’t even 10 years old yet.”

          Again the furor in your sales pitch does not reflect the reality of its proponents desires or its applications in the actual world. The mention of the microwave is applicable if you had any background in these type of market studies and stop fantasizing about some utopia.

          • Stewie GriffinMEMBER

            Ugh – can’t you tell that I’ve finished with you as a narrative device by now? I’ve said what I’ve wanted to say and so we’re done here now.

            Every point you made is redundant – “over 86,000 blockchain projects that had been launched, 92% had been abandoned by the end of 2017,” Agree – but so what? As I’ve said they repeatedly, they’re all superfluous. There is only a need for ONE public blockchain, the one that can handle ALL USE CASES.

            “A bank can reverse a payment request. This is impossible for bitcoin and other cryptocurrencies” Payments are reversable – they’re also freezeable. There are numerous examples already of crypto addresses that have been ‘frozen’ due to claims of their receipt of stolen funds. The ALM and legal framework is now starting to be enforced in this space, and those doing the enforcing are legitimate miners, acting on instructions by legal authorities. If you want to have access to the mainstream financial network then you have to adhere to the same AML framework – bad actors are going to be cut our of the economy one by one. Bitmex and its CEO’s is just the latest example of this. I would expect Binance to be in a similar predicament very shortly.

            Firstly: the technology is at loggerheads with European privacy legislation, specifically the right to be forgotten. Once something is in the blockchain, it cannot be removed. For instance, hundreds of links to child abuse material and revenge porn were placed in the bitcoin blockchain by malicious users. Sigh, if the file exists then it exists on a miners server and they can be compelled to remove it. This has been slow to be enforced so far, but then regulators are really only getting started in this space – blockchains that don’t comply with regulator requests will be non-compliant, as will miners, and they and their coins will be frozen out of the space, by being denied access to legitimate on and off-boarding access points to the rest of the financial system.

            “Also, in a blockchain you aren’t anonymous, but “pseudonymous”: your identity is linked to a number, and if someone can link your name to that number, you’re screwed. Everything you got up to on that blockchain is visible to everyone.” True – but then if you are conducting legitimate business then you have nothing to fear, and the effort to track down a pseudo-anonymous account and then associating it with a real identity is still significant.

          • You still think repeating industry jargon talking – selling points which have no actual experience in application is some sort of fact[s E.g. “you only need one”.

            How about its a fairy tail that some have like the yellow brick road because lots of money or they think its a path to the promised land.

            Don’t even know what this idea of – public – that get trotted out, when its nothing of the sort, I mean unless that atomistic individualism in a market is some peoples notion of public.

            Put it this way, it matters not because as noted above the fail rate dictates that no one will have a bar of it, your hard sell only reinforces that perception. Good luck trying to force it on people that don’t want it, whatever the reason, hence the microwave example – they finally understood that people only warmed stuff in it, after blowing – throwing huge sums of money at it did they design and price it according …. only then it became a viable business.

            Who knows maybe they can find a use for it after they scrub all the ideology off it and the over sell that goes with it.

          • Stewie GriffinMEMBER

            Good luck trying to force it on people that don’t want it,

            Clean the wax out of your ears – it won’t be a matter of forcing people to use it, the point is they won’t even be aware they are using it. It’s like you don’t have to know how to code in HTML in order to use the internet.

          • The fail rate does not support your argument, come on stew, are we in Upton quote territory. Please the fail rate for all large IT projects is mind boggling with cost blow outs that make preconceived notions of savings through efficiencies worse than before – with a side of crapification of good or services.

            Then you wonder why I take exception to the suggestion that its a – public good – as in “the commons”, and not a market place framework. The suggestion that it would be – owned – by the collective public is disingenuous at best, when a platform like FB or Amazon would be a better analogy with in a Gates Frictionless capital paradigm.

  10. this morning on ABC I was watching a support rally for low and order organised by Trump and was surprised to see so many black supporters. If this is a reflection of how many black voters will vote Trump then I was worried for nothing.
    Trump’s support could be much bigger than polls are telling us. This could be another 2016 – MSM can’t accept that people stopped listening to their narrative and worked out that there is no journalism left.

  11. Anecdata postcode 2088 (passing though last week on a job went into a supermarket, definitely a neighbourhood well above my pay grade to live in):

    Two well to do appearing young mothers in active wear chatting in the aisle – seems that one husband (in those parts that usually = lawyer/banker/higher level manager) has just been made redundant this week. They have about 4 months before ‘they need to worry’ and ‘they have spoken to the bank’. She seemed very calm and thought that another (presumably > $250000 PA) job would appear. Maybe in for a rude shock, who knows …

    Same supermarket 10 mins later at the checkout queue. A fairly non descript male in his 40s with a reasonably large assortment at the checkout – staffed not self serve. Card has stopped working (no it wasn’t Coles when the whole system went out). Had to offload part of his purchases and try several times till the total was low enough that the purchase would go through. Checkout attendant was polite. I was behind him in queue and saw what he had to leave behind: fair wallops of sirloin steak, gourmet rolls etc. Hmmmm.

    • I’ve heard of one barrister involved in planning regulations who is inundated with work at the moment, but it seems this is the exception rather than the rule and many of their lawyer friends in other fields are still without work, yet have to manage mortgage, chamber costs etc – has been a few stories of suicide attempts.

    • wife’s girlfriend rocked up for dinner last Friday and told us she struggles to rent her Liverpool apartment that is opposite Liverpool hospital in quiet street. She is asking for $240p/w and can’t find tenant.
      She also told us she saw online an ad for 2 bedder apartment in Liverpool asking for $240p/w and giving every 4th week for free.

      edit – our friend’s apartment is also walking distance to the train station. yes, sh1te area but convenient and for people that like to live there this is ultimate address.

    • PalimpsestMEMBER

      It seems to really depend on sector. Our (house) painter has been booked solid. The colour consultant has been working to 2AM. The gardening contractor won’t take on new jobs. What is in common there is house maintenance and improvement. Some of it due to people trying to move property, but mostly the effect of people at home wanting toimprove their surroundings. A wave that might peter out in 6 months.
      What the anecdote above is indicating is the wave in middle management and white collar that is just starting to rise.

      There’s a related aspect that’s underappreciated. The loss of small business. Tax cuts typically provide less than a dollar of stimulus for every dollar spent and are even less effective when people are anxious. Innovative small business has always had difficulty with funding in Australia. More so now. The concerns have really only been raised in publications like MB and the ABC https://www.abc.net.au/news/2020-10-10/budget-2020-grand-ambitions-perplexing-political-choices/12748842?section=analysis but not in the MSM.

      A parallel situation is concerning the WSJ https://www.wsj.com/articles/banks-have-barely-touched-the-feds-main-street-lending-program-except-this-one-11602322201?mod=hp_lead_pos3 where larger companies have plenty of fund raising options, but small business is going to the wall.

      It is the lack of demand stimulus and drop in support for small business that concerns me. Maybe we had too much ‘services’ sector concentration, but now we don’t have enough.

    • call me ArtieMEMBER

      Hi Niko. Here is how good it is

      Go right to the bottom of any page on the new website (www2.asx.com.au). There you will find a disclaimer saying that it’s only a beta version to get user feedback and should not be relied upon for correct data. If you want correct data you should go to the old site at asx.com.au

      Try doing that. It’s an exercise in Kafka-esque eternal looping

      Web design is getting worse and worse. Out-sourcing and web developers of the sub-continental persuasion

  12. Attention grabbing piece by Bill Maher on how the US electoral system works. No idea if how he explains the system is right or whether he is just attempting to spook people into voting (?).

    https://www.youtube.com/watch?v=QA9ak5rKmOY

    Got to say though, generally speaking I find him annoying – anyone that feels the need to pretend to giggle at their own jokes … ozzie’s side-kick in Hey Hey It’s Saturday and also the bloke from Young Talent Time were serial offenders too.

  13. boomengineeringMEMBER

    Gavin.
    Gave a young guy from Seaforth the flick the other day. He was shopping around for a good price to weld and strengthen his $11K titamium BMW cracked exhaust tube. Mainly because he was in a hurry and I would have to procure titanium plate and stays but also because he was shopping around for price and that meant not wasting my time competing with cowboys.

    Instead will do that personal machine repair job for an engineer who’s gone to Brazil for 4 months working for the oil rigs.

    • I only fix stuff to help out or something to do, mainly electronic or electrical.
      Fixed a jv-80 keyboard synth for a muso I’ve got for work experience. Dry joints around 12v transformer wires, he’s had it apart too many times replacing warn keys and buttons and the wiring gets a workout.

      • boomengineeringMEMBER

        Cov, something to do, sounds like you’re retired?.
        Yep had dry joints on the missus car ignition in the dashboard. Between 2 circuit boards due to not allowing lead in the new anti lead soldering technique laws. Didn’t take me long so can’t understand why they can’t just suck up the vapours to capture.

        • Think the lead free solder is all about incinerating old PCBs and not ending up with lead ash.

          A red hot place for dry joints in any car is the PCB for the aircon buttons, and i just resolder every joint.

          I always take longer to fix just to do a decent job of cleaning before repairing, and also studying the design and schematics to see new stuff that’s interesting.

          Fixed various old machines at work, mainly warn contactors, siezed fans, shorted welder diodes, etc.

          I’ve worked part time self employed since leaving a salary job around y2k (had low savings then), and saved enough to buy a house outright using just part-time income. Too much saved to buy now. Houses should halve in price, but better just to reinvest and double the money after a crash.

          I increased total saved by 40% in the last couple of years just from PMs alone.
          So for me, houses got 40% cheaper just from currency debasement.

        • That old contactor gear is usually easy to trace out, given an adequate amount of time and coffee. That one doesn’t look complex.

          Those big resistors might be part of a slow-start circuit, or maybe for breaking. The windings are switched from star to delta connections when starting up some large motors.

          If i had more space, i could rewind the motor, because i need to make motors one day anyway.

          Some old exotic motors have variable DC fed through field windings, which is another reason for largish resistors.

          • boomengineeringMEMBER

            Wow you rewind. Give me an email would have had to go west if I didn’t have that similar motor in stock to modify
            No such motor available from the suppliers and the council shut the rewinder down nearby.
            . One huge machine the navy and contractors couldn’t fix for six years had 3 wardrobe size electrical cabinets and a control panel the son and I fixed required a Heidenhain optical rotary encoder we imported from Germany to facilitate 4th, 5th axis. The son had to break the code to feed in the parameters.

          • Hi Boom,
            I said if i “had the space” 😉

            One thing that’s needed but i haven’t got is a tank to vacuum impregnate the windings with varnish.
            Then to get some magnet wire with the right insulation rating.
            I know how it’s done, but i’m not geared up to do it.
            My office is a small electronic lab set up at a friends factory, and they only do 12V electrics apart from me fixing stuff.

            If factory sheds were a sane price, i would have had all this stuff 10 years ago.

            The last motor rewinder up my end of town closed 10 years ago. I don’t know if there’s others around geetroit.

    • $11k exhaust? Should have told him you’ll fix it to the highest standard but it won’t be cheap. Just remind him a cowboy will fudge it and he will be back to you anyway..

        • I must be a cheap basterd. No way would I pay $11k for a muffler unless every gram was necessary. Occasionally had to spot a brace or 2 on them if they were closer to the motor, but mainly I’ve splinted them with a couple of half rolls of SS sheet V snipped along the sides so I can bend to match profile, hose clamps & sealed with muffler putty – lasts for ages & nobody can see it 😉

  14. It’s all a bit too friendly around here this morning. Might be time to drop a grenade and flush out a marsupial … or a chimney attendant. Perhaps even a fake doctor 😉

  15. Not to agree with all this, but an interesting chat

    https://www.nakedcapitalism.com/2020/10/rana-foroohar-and-mark-blyth-how-deep-will-the-depression-get.html

    Things aren’t near as rosy as Mr Murdoch’s world wide confidence fairy scheme make them look…..Australia and indeed the world are becoming ever more dependent on the Chinese economy for growth…..see latest RBA Chart Pack for details

    https://twitter.com/dlacalle_IA/status/1314883999320412160

        • Its a three match test and everyone played their guts out, which is good for all involved, so its a collective win for the sport as a business. Not that you would understand some of the best business deals are where everyone has to compromise and no one gets to dominate, its good for all involved – see the old HP boys.

          Then some are confused about why monopolies are such a feature and not a bug these days.

          • WTF?! It was a sporting contest which just happened to end in a draw — by virtue of dumb luck and nothing else. And it happened to be a good game – by virtue of the weather conditions and a few other factors but mainly, dumb luck.

            How on earth can you draw parallels between business outcomes and that match? Business outcomes tend not to be dumb luck.

          • Over 90 percent of business go broke in the first 3 to 5 years, my link above to stew shows “Out of over 86,000 blockchain projects that had been launched, 92% had been abandoned by the end of 2017”, studies abound about time and space in the market which has little or nothing to do with tropes about hard work or smarts being critical to success[????], and lastly I remember when Australians valued a good close match based on the effort and not the score …. then came the libertarian sales pitch guys on the tele banging on about tall poppy syndrome and hatred of individual success … then some here lament what happened to old Oz ….

          • *Four match series. Now down to a three match series. Wobblies need >1 win to take the Bledisloe.

            Which won’t happen of course, but at this stage I am happy with a draw.

        • The Traveling Wilbur

          Well it ended in a draw because an Australian was too chicken to keep playing on and give their team a chance of winning and punters full value for their money, actually.

          🐑✔
          🐨🐔

          • I watched the game and – to be fair – felt shattered on our behalf. Running it from our own 5m line was probably not the way forward at that point. Bit of a shame as it gave the Kiwis something to whine about. If only that Pen had gone over – not good loosers the AB fans.

        • The Traveling Wilbur

          You might have a point with your comment about the All Blacks not being good loosers.

          I put it down to the fact that the ABs have had nowhere near as much practice as the Wallabies at it. 🐑😁

          • I just remember being in Auckland after us being flogged by the ABs and we copped a heap of abuse from a group of fans because we were singing happily after the game! “STFU you lost!”, they were shouting.

            Ever since then, I have no time for them.

    • Is it mandatory to insult some folks every time you comment.

      People are allowed to have alternative views you know. Well, in a free society they do.

      Obviously, once the progressive rapture occurs no one will be free to think for themselves at all. 😉

      • reusachtigeMEMBER

        That Bloke is exhibit A for freedom destruction! He hates freedom and wants everyone following his twisted rules. The type of evil we good people need to defeat to bring about a successful future. Movies are made about us champions defeating his destructive type.

      • Angnotology is not an alternative view and has serve consequences for everyone, especially when its some concocted narrative to fill uninformed minds with so some can benefit from it at the cost to everyone else – now and in the future.

      • I actually have come to wonder whether R2M isn’t some kind of plant who wants us all cheering for climate change as rabid anti-mask wearing anti-vaxxers.
        There is no other explanation for someone making so many insulting and insufferable comments to anyone who dares even raise a metaphorical eyebrow in the comments section.
        (That’s all facetious by the way, I know he is a very angry man).

    • I think the more modern attempts at internal change is more acute and some in the U.S. should get over the Chicago boys given the flick from Russia – as well …. I hear leading by example thingy …

    • There was actually armed conflict on the goldfields inland of Cairns and Cooktown in the 1870’s between southern Chinese and northern Chinese. Can’t remember how many were killed but there were thousands of combatants involved and the locals had to call in the colonial troops. The Cantonese were one side but I don’t think the other side was identified as Hakka (perhaps that was too fine a distinction for the colonial authorities).

      The other thing is that the chinese on the northern goldfields all had queues and wore “pajama” clothing as a mark of subjugation to their rulers, the Manchu. (China in the 19th century was ruled by a foreign power, not the yanks or europeans but by people from north of China aka Manchuria).

      • It’s funny, but when I was a kid I though History was the most dull subject ever. The older I get the more fascinating it all is.

        Amazing what our forebears were up to.

    • Interesting to watch, skip, but at the end of the day these are all economists cut from the same cloth.

      They are on the side of ‘intervention’ and ‘economic management’, Because they know better than ‘Mr Market’

      Let’s state this upfront: if these useless mounds of jizz actually knew better than Mr Market, we’d have committees which set the price of all fruit, vegetables and meat on a regular basis – a bit like ‘interest rates’ – but we don’t. Why? Because these charlatans know full well that the economy would collapse in 5 minutes flat if they tried. However, they’ve managed to con a lot of impressionable people into believing that hands on management by people who don’t have a clue is perfectly reasonable.

      • Look I understand you have this perception of the market which never existed in humanity’s history and government was hands off, compounded by utter failure to reconcile the context of historical time lines and apply it all equally.

        Must be why the economic libertarians aka AET sorts were loud and proud right before the GFC, yet even now still attempt to lay claim to any sort of credibility. BTW the point of the link was to show how fast the room changed the topic when a few well known historical facts were pointed out. I’ll add on Trumps public notice about him and the stawck markets or do you want to see your notional price go splat thingy, yet who were his base again?

      • Let’s state this upfront: if these useless mounds of jizz actually knew better than Mr Market, we’d have committees which set the price of all fruit, vegetables and meat on a regular basis – a bit like ‘interest rates’ – but we don’t.

        Rrrright.

        So, to be clear, you believe there is no spectrum between whatever it is you consider to be a “free market” and centralised product selection and price fixing of goods and services ?

        • I think this gets right back to the hatred of democracy by Dominic’s sort from the prospective of a “Businessman’s view” in the romanticized notion of the ***Village*** setting and a myopic sense of Traditional social organization.

          Its always reminded me of the factual history behind the book Moby Dick and the tail of the survivors trial.

          BTW Dominic should know being a grouse econ mav that PK does not favor targeted IR and in fact it has lead to all sorts of dislocations let alone a freebee to BSD free rider financial capital … him being a ex capital desk jockey and all.

        • Comment in mod, but its curious that Dominic rubbishes all economics as cut from the same cloth, but excludes his own economic group, especially considering its ascendancy in American economic departments was funded and advanced by C-corps and wealthy advocacy groups back in the day as a big business lobby front.

          I find the umbrage over puritan views curious considering that observation and its long history of symbiotic relationship with groups like the Chicago school during the neoliberal era. Post GFC AET split into around 5 groups and now attempts to white wash history out of existence – lies – oh look squirrel – officer I did not inhale the smoke – et al …

          Then on top of all that thinks or believes Keynesian economics has been the driving force in policy administration after the Laffer curve thingy and neoliberalisms dominion since the mid 70s.

          Best bit is how the Von [genetic authority] was removed from the Mises institute after defending its historical tradition [tm] with tooth and nail back in the day – poof – quite reminiscent of some PR sales rebranding shift to chase – retain market share in the market place of ideas Eg. must keep the unwashed tied to the narrative or the salad days are over ….

        • Of course not. Though I’m sure some washed up, waste of space academic could attempt to justify it. Academics are, for the most part, paid by the state and are therefore very friendly to the idea of state intervention in all manner of areas they have no right to be involved in.

          The truth is you have no answer to my statement about setting prices. Spectrum? Lol

          • Of course not.

            You say that, but basically Every. Single. Argument. you make against any sort of regulation you don’t like immediately jumps to this premise, thus the reasonable conclusion based on evidence is that you *don’t* see any shades of grey between free-for-all markets and a centrally controlled command economy.

            The truth is you have no answer to my statement about setting prices.

            The answer is nobody here that I can remember has ever advocated “committees which set the price of all fruit, vegetables and meat on a regular basis” (outside of extraordinary circumstances like war or natural disasters).

            Spectrum? Lol

            Yes. That’s where people might advocate, for example, that “all fruit, vegetables and meat” sold in Australia be required to meet minimum standards for quality, safety, ethical production, etc, then let “Mr Market” find the most efficient ways to deliver products while meeting those goals (or “market interventions” as you would call them).

            It’s like the difference between understanding physics and trying to make something fly by throwing it and hoping, versus trying to make something fly by “intervening” and attaching some wings.

          • “It’s like the difference between understanding physics and trying to make something fly by throwing it and hoping, versus trying to make something fly by “intervening” and attaching some wings.”

            Your specialty right there ^^^^ Non sequitirs r Us

            The very reason few actually understand what you’re saying half the time is because you willfully twist an argument to try and paint the original as something it isn’t. It’s that or you didn’t understand the original in the first place. And I suspect you do this precisely because your world view is persistently challenged by reality.

          • And there we go to the ad hominem as usual.

            Your go-to example above at the mere suggestion of “intervention” – as it is pretty much every time – was the immediate extreme of a centralised command economy (despite nobody having ever advocated that here as far as I can remember).

            The very reason few actually understand what you’re saying half the time is because you willfully twist an argument to try and paint the original as something it isn’t. It’s that or you didn’t understand the original in the first place.

            I understand the position you *present* just fine. Your response to the suggestion of market intervention is that it would be indistinguishable from a centralised command economy.

            That may not be what you *think*, but it is what you *say*. Repeatedly. Just about every day.

            It’s not my fault if I don’t know what you’re thinking. I’m only responding to what you’re saying. Since this is basically the complete opposite of what you do, I can see why you might struggle with it.

            And I suspect you do this precisely because your world view is persistently challenged by reality.

            Now there’s some weapons-grade irony.

  16. happy valleyMEMBER

    Josh Rainbowberg and one of Karl S’s bestie mates, Sharma, in full smirk mode and doing an El Trumpo in the eastern suburbs today – up and close and personal with every man and his dog in some cafe, without a mask to be seen and precious little social distancing. Nothing to see here, move on.

    Ain’t it great to be bulletproof which obviously every LNPer is.

    • One person spoke to a virulently anti lockdown media outlet, The Spectator, as reported in other fellow traveller media. Not very substantial or convincing. True, it is the type of cognitive bias evidence that appeals to that individual.

      • “ Not very substantial or convincing”

        The WHO or the 12,000 scientists, doctors and epidemiologists that signed the Barrington Declaration?

        I’ll accept the news.com.au isn’t a great source. Thing is, you only need to look around and talk to people in the street to see the damage being dome by lockdowns. The benefits are much harder to quantify. Especially when you consider the fact that there a many more countries with COVID caseloads in the hundreds and thousands/ day that are advising their citizens on best practices without harsh lockdowns And suspension of civil liberties that aren’t seeing crazy death rates. Why is Victoria so different? What makes us a special case? What is this “science” we’re following now?

        • Is this the same WHO that everyone was rubbishing as a China lackey or worse just a few weeks ago or that it had ethical issues due to funding …

          The flip flopping is getting epic …

          • I’m confused. I don’t remember any flip flopping by the anti lockdown folks. They have always been anti lockdown and stated that tithe lockdown cure is worse than the COVID disease. We were told we locked down because of science. Almost every other perspective on lockdown was negative but “it’s the science” seemed to be the trump card that won the debate so far. No the science has evolved I don’t know what is left to defend the lockdown stance (other than bias, denial, shame and fear). Why are we still locked down? What defence is left for this approach?

          • You mean like Ben Carson was a neurosurgeon doctor but had some really whacked out ideas kinda doctors ….

            Mean while the data that is being collected and reconciled keeps informing that this is nothing like the flu, contra to what the ideologically driven let it rip crowd and how long term effects could easily out weigh any preconceived short term economic metric driven benefit.

            This is also complicated by access to health care and environmental conditions for those that don’t have or can’t afford the same care as say the upper crust. So when you can show a – plan – that reconciles all the disparities and risks associated with them then you might find a more sympathetic ear.

    • Bob these fwits will never accept they got it wrong

      If Jesus Christ himself came back and told everyone lockdowns aren’t warranted

      Let them all f’ing rot in Melbourne

        • Sorry mate

          I believe you can go to country Victoria
          Then to NT
          and from there you can go to the other states

          Never go back to Melbourne

          It’s a hole

          Full of dikheads like the ones who have been smugly posting for the last 6 months

  17. https://zenodo.org/record/4073131#.X4LfEhY8aEc

    SARS-CoV-2 Is an Unrestricted Bioweapon: A Truth Revealed through Uncovering a Large-Scale, Organized Scientific Fraud
    Yan, Li-Meng; Kang, Shu; Guan, Jie; Hu, Shanchang

    Also a psychological weapon. All those videos of Wuhan people collapsing in the street (why was this only seen in Wuhan), people dragged out of their apartments (China is the 1 country that could stop those videos getting out if they wanted) & China taking its banknotes off to be cleaned. All intended to psych out the west. And it has worked

  18. @DrSmithy. 1 reason I find it hard to stomach the idea of voting greens.. they turn everything into a gender/race issue..

    But not every one is happy. Greens Senator Sarah Hanson -Young said the cuts will only benefit the rich and meant “jobs for the boys”.

    “These tax cuts predominantly go to high-income earners,” Hanson-Young said on Friday.

    “Who does that mean? Men. This government has made choices today that prioritise the rich over the poor, men over women and millionaires over the unemployed.

    https://www.news.com.au/finance/economy/federal-budget/income-tax-relief-passes-federal-parliament/news-story/38cecf7f1fce91868bb2a325888070c1

    • But not every one is happy. Greens Senator Sarah Hanson -Young said the cuts will only benefit the rich and meant “jobs for the boys”.

      “These tax cuts predominantly go to high-income earners,” Hanson-Young said on Friday.

      “Who does that mean? Men. This government has made choices today that prioritise the rich over the poor, men over women and millionaires over the unemployed.

      “Tax cuts today means service cuts tomorrow. What does that mean in reality? Less health care, less funding for education, less supported funding for aged care.”

      Gav, if you read that quote and only see talk about gender and race, the problem is on your side, because of the six specific things mentioned (rich/poor, men/women, millionaires/unemployed, health care, education, aged care) only one of them mentioned gender.

      • Everything she said is factually incorrect

        Tax cuts today means service cuts tomorrow. What does that mean in reality? Less health care, less funding for education, less supported funding for aged care.”

        Wrong

        Still peddling this tired neoliberal garbage

        Only because she’s too stupid to know any better

        • “Supply-side” tax cuts which give the excuse of shrinking government involvement in forwarding more privatization with a side of deregulation so the magic happens …. rinse and repeat since carter and after burners from raygun.

      • ErmingtonPlumbingMEMBER

        Best way to neutralise the democratic power if the lower classes is to break their Solidarity with one and other by dividing them along BS Identity politics lines.
        Australia today is one of the most Progressive places in human history and yet people like you denigrate its people constantly.
        You guys are useful idiots to the very kind of Plutocratic Power you claim to decry.
        You ARE one of THEIR (The Plutocratic establishments) greatest and most effective tools!

        • All bullsh!t.

          You and your right-wing media mates with persecution complexes are the ones insisting discrimination can only be poor OR [something] rather than poor AND [something].

        • So EP what was the deal pre Idpol … eh … not like you had diminishing returns for labour way back decades after wages and productivity diverged … but yeah its all Idpols fault?

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