Macro Afternoon

See the latest Australian dollar analysis here:

Macro Afternoon

Its a day of excitement across risk markets here in Asia following the pause on equity markets on Friday night, absorbing the Biden election victory and the better than expected US jobs figures over the weekend. Gold is surging again after consolidating at the $1950USD per ounce level post last week’s FOMC meeting with a lift through to a new high at $1963:

The Shanghai Composite is rising fast towards the close, up nearly 2% at 3376 points while in Hong Kong the Hang Seng Index is also surging, up 1.6% to 26123 points. Japanese stock markets are moving the furthest, with the Nikkei 225 closing 2.4% higher at 24917 points while trading in the USDJPY pair has finally seen a course change with a little blip higher towards the 104 handle after slumping on Friday night to a new monthly (and yearly) low at the 103.50 level:

The ASX200 has started the week with a very solid session, closing 1.8% higher to 6298 points while the Australian dollar is about to break the 73 handle after having lost no ground on Friday night – nobody is liking USD here at all:

Eurostoxx and S&P futures are up all between 1-2% and ready to fire ahead with the four hourly chart of the S&P showing a break above the October highs as the US election is finally (almost?) over:

The economic calendar starts the week with the usual post-NFP quietness with a few Treasury auctions and some ECB policy wonk speeches.

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Comments

    • GunnamattaMEMBER

      It is not a lame attempt to boost ratings……

      There are a lot of politicians in Canberra (and elsewhere) who have a sense the heads on sticks moment is getting closer, and want to be well distanced from any public awareness or scrutiny of some of the things they have been party to.

      • Agree 100% that they have tons to worry about.

        If it were legal to do so, I would burn that place to the MF ground, and I am not just talking about the LNP/ALP/GRN component either – though they would be first.

        It is just that I have seen one too many of these kinds of exposes hyped in advance, only to deliver very little in terms of a smoking gun.

        Will be watching, and will be very happy to be proven wrong.

        ADDIT: Just looking at the Senate hearings now, it does seem that one or two hot potatoes are loose!!

        Enjoy!!

          • Mining BoganMEMBER

            #MeToo

            Geez, that Senator Stoker is appalling. She would adopt puppies just to drown them.

            Edit: I still think it will be about who’s bonked who rather than serious corruption. Ritual sacrifice still 25-1.

    • Michael West has been encouriging everyone to watch it saying this is going to be a scorcher of a report. I’ve never seen Michael being so worked up.

      • So some politicians were rooting their staff. So what?
        Bob Hawke got caught a couple times as PM, has a cry, and his approval rating went up!
        Personal scandals have less impact than some would like to think they have.

        • Yep. Very little to get excited about. While Angus Taylor and Stuart Robert remain in Parliament, Porter will be fine (if a little embarrassed) at the revelation that he is a “lad”.

    • TailorTrashMEMBER

      Poor behaviour …..that’s ok
      ….if it’s only poor behaviour it’s within tolerance ..

  1. GunnamattaMEMBER

    For mine the dynamic is this.  Biden now leads the US.  In doing so he needs to lead reform of the Neo Liberal consensus.  I think he is Buckley’s chance of doing that.

    When you think about the narrative Trump was for sure thrown up by an electorate fed up with being served the same ideological rubbish from both sides of American politics for more than a generation. Low taxes matched low services provided by the government, low quality jobs had been the bedrock of jobs growth over the course of a generation, and that fed straight into low income growth.  From there those low income jobs tended to be at the precarious end of the spectrum, the discrepancy between incomes growth and aspiration was, for an increasing number of Americans, papered over by debt.  The brings us straight up to a present where just half of Americans don’t pay Federal income taxes, they don’t have any ability to address their health needs, they don’t have any security of employment, and they have no savings whatsoever.  If anything other than Business as Usual hits those guys they are stuffed.

    That dynamic has been cemented into place over the course of a generation or two, ever since the arrival of Ronald Reagan.   In 2016 the play off was between Hillary Clinton – whose husband Bill had been central to the inability of the Democratic party to addressing the above dynamic, and in which she personally had been conspicuous as a failure (for her health care plans) and then as a subsequent Secretary of State had been involved in some fairly nefarious International plays.  She had been part of the Obama administration which had failed to touch the financialised economy even after it had gone into cardiac arrest and required government intervention on a scale undreamt of by any socially concerned movement since WW2, and in the face of widespread corruption in that sector had failed to get a single head on a single stick.  The socio economic basis of the ‘left’ (such as it is in the US) of the Democratic party, would for sure have been asking why it would support Clinton or the democratic Party – and the strength and dismissal (despite the strength) of Sanders as an issue within the democratic Party would have underlined that.

    On the other hand you had a new type of Republican.   A 24 carat bullshitter claiming he was from outside the ‘swamp’, and wanted to address the outsourcing of jobs to Mexico and china (which was central to the concerns of the old socio economic left of the Democratic party, and the unions which supported them).   He didn’t campaign heavily on cutting taxes for higher income earners, but even to the extent that he did most of the concern of that social demographic which swung to him (working class in rustbelt states affected by offshored employment) the beef was not taxes, but job security, incomes and jobs per se.  And on that Trump at least was holding out something.

    Of course he didn’t deliver.  Trump delivered what those backing him financially wanted him to deliver, the tax cuts, and delivered little to nothing in terms of bringing backs meaningful jobs.  Despite this Trump’s lasting legacy will be to have completely reset the way the Western world addresses a rising China in an economic sense – and slapping this at the forefront of his economic and foreign policy has given him some credibility with those rustbelt working types right to the end.  But anything he gained credibility wise from that end of his innings was completely blown out of the water by a litany of personnel changes, policy ad hockery, straight out lies, and self serving near corruption – all of which was starkly exposed by the advent of COVID 19.  The virus underlined just how failed the great neo liberal dream had become in the US.  Americans have to go to work because they don’t have the wherewithal to spend a couple of weeks in lockdown.  They don’t even have a public healthcare system which may support them.  Most of all the address of the virus underlined just how anti data and anti science Trump’s administration actually was.  The election performance makes him the definitive ‘toys out of the cot’ US President.

    That brings us back to Biden.  What is he actually planning, both to address COVID, but for the economy more broadly?  So far he looks fine talking about lockdowns to prevent the spread, and we look forward to seeing a more scientifically factual address of the pandemic, and hopefully a vaccine.  With a bit of luck maybe he will draw the lessons of the virus as far as the economy is concerned.  The limits of debt and flat incomes have been reached, the additional profit margin extractable by making employees more precarious has been reached.  He looks set to take a far firmer line with China and trade than any US President has in 30 years, but will that lead to the types of jobs outcomes he needs to convince those hit hardest by the NeoLiberal consensus to have faith in him?   He has said he doesn’t want to go as far as Sanders was proposing vis healthcare, but for a US which is having its healthcare system ragdolled by the pandemic will that be enough?  Can he do anything about the parasitical nature of the 1% on economic growth – and particularly the financialisation of the entire economy and the hegemony of Wall Street?  Can he do anything about a tech sector which extracts data from every person it comes into contact with, trampling privacy in the process, and has a business model revolving around completely avoiding tax, almost anywhere (but certainly low taxation jurisdictions when it does)?

    There is some sense that he may move on some of these issues, but his scope for getting traction is pretty limited.  If he doesn’t get traction then he limbers up in 4 years time with an electorate which by that stage is likely to be feral, and potentially looking at something Trump like (an outsider, proposing something radical, touching on the lived experience of Americans better than the political mainstream).

    I think Biden’s best bet is to quickly get together with whatever leaders of the OECD he can rustle up and start laying a few things on the line.  His problems are the problems of other nations – particularly the economic structure prioritising precarious employment, and the need to jump start the economy out of the COVID related hit – and there are certainly experiences in other nations he can possibly learn from (starting with healthcare).  In bringing the US back into the fold vis the stance on global warming and carbon there is going to be scope to deploy government funds to shape the economy of the future, and position the economy for a considerable restructuring.  If he can do that in a concerted G20 or OECD or ‘Western’ nations style format – particularly if that comes with a more consolidated approach to the address of China, then he may have the wherewithal to sell the idea to his own electorate, and bring them along for the change.   If he doesn’t then you would expect that the oil and big energy lobby in the US will do for him, that’s if the financial sector doesnt.

    Biden’s election win was cheered on by much of the Australian mainstream press in a very distinctive way – particularly if you were comparing the Australian press reaction to the press reactions from other parts of the English speaking world.   Australia’s press, almost alone, barely touched upon the socio economic narrative as outlined above.  It was all about ‘isnt it good we have got rid of Trump’ or ‘Isnt it good to have a female Vice President of colour’ and there was surprisingly little mention of China.  The cheering aspect (which I personally support to the extent that Trump was certainly an idiot and the US is better off with him gone) is very shallow insofar as in the Australian press there is a notable reticence to go near the economic narrative, with the odd honourable mention of global warming and decarbonisation as boding poorly for the Banana Republic Australia is currently structured as.  In part I can buy that because nobody knows what Biden’s team will be able to cobble together as a coherent economic platform and nobody is likely to be that confident about what linkages the Biden administration can quickly bond with a world largely toasted by Trump’s ad hockery and anti logic positioning.  

    After the initial flurry of hubris about minorities and presumably a greater number of female appointments in the new administration, there is an awful lot of hard yards to be won, between January 2021 and late 2024.   

    • Clarence Thomas

      Biden on his first day in power needs to implement an immediate nationwide lockdown, restrict gatherings to only people you live with, can only leave the house for food or work that cannot be done from home.

      Europe — which has collectively failed more than Trump’s America in containing the virus — has in recent weeks implemented strict lockdowns.

      There is no excuse why Biden can’t do the same to knock the virus on its head.

      Anything short of a hard lockdown is no different to how Trump approached COVID.

      As for Trump being an idiot, that’s your opinion but anyone who watched the debates will acknowledge that Trump is smarter and much more eloquent than Biden.

      Biden routinely stumbles over words, gets his facts completely wrong. In the Democrat candidate debates Kamala Harris was howling with laughter at one of Biden’s gaffes.

      • The USA wasn’t formatted to be locked-down. That’s why it is the country that it is – The Land of the Free and all of that.
        Lockdown the US and half the population will starve to death ( as is hinted at in the above post by), they are broke at the Household level, and unless they can work, they waste away.
        It’s not that Trump’s approach was wrong – it’s the only viable alternative they really had.

        • It’s not that Trump’s approach was been wrong – it’s the only alternative they really had.

          This is a false dichotomy.

          There’s a vast spectrum of alternatives between Trump’s approach and LOCK IT DOWN; ALL OF IT.

          • I was responding to the post by Clarence who suggested total lockdown was the answer.
            Americans won’t be locked down in many places – at all. That’s why they strap guns to their side, to fend off tyranny. And anything that ‘tells them what to do’ it tyrannical in many eyes.
            I doubt you’d lockdown the US to any efficient standard even if Bubonic Plague swept ashore.

          • In the end, Justice Daryl Rangiah of the Federal Court of Australia found:
            the border closure was the best way of stopping the virus entering WA.
            Ipso Facto, the border closure was the best way of keeping the virus out of Australia
            This will be the core of the class actions against morrison

          • Clarence Thomas

            Every country that has eliminated or suppressed the virus almost completely used lockdowns and hard borders to achieve it. The only real anomaly is Taiwan but that is a small island nation with a few major cities with recent experience dealing with a pandemic (and possibly having some immunity via being exposed to coronaviruses previously).

            Biden’s plan is the mickey mouse kind of policy that led to Europe getting blown to smithereens by the second COVID wave.

          • I was responding to the post by Clarence who suggested total lockdown was the answer.

            Sure. And I was responding to the suggestion that “it’s not that Trump’s approach was wrong – it’s the only viable alternative they really had” when that is patently false.

          • What could have Trump done to almost completely suppress or eliminate COVID?

            Have you stopped beating your wife yet ?

        • Clarence Thomas

          So Trump didn’t kill 220k people? In reality he was just unlucky to be hit with a once in a century pandemic on his watch.

          • Covid19 is a reality in The USA. What Trump did or didn’t do was likely to make a marginal difference in that number, for some of the reasons I write above. 70 million voters appear to agree with Trump’s approach. How are you going to force them to stay at home if they choose not to?

        • migtronixMEMBER

          “The USA wasn’t formatted to be locked-down.”

          Was it formatted for strip search to get on a plane???

          • No, it wasn’t. Which may be why we see the repudiation of any subsequent similar policies? Boiling Frog wakes up at some stage….
            And the rationale behind not wanting to get on a plane with a shoe bomber and not being able to go to work to feed your family are two different considerations.

      • 71m people (most of them probably armed) voted for Trump. Good luck with the lockdown.

        This is the United States, fella.

    • INteresting story to pull those events into say 3 shades of grey
      but, there is only about 3% difference in the vote.
      and, I say, near half are blue and near half are red. both entrenched.
      Add, only pussycat national leaders have contacted Pence,
      the heavy hitters are lying low.
      PS morrison is a pussycat.

      • The story that is barely told is that Democrats have lost 7-10 seats in the House. The Senate looks like it will stay with a Republican majority and the vote difference between Biden and Trump is as you say.
        A blue wave it is not and the mid-terms will be interesting.

    • Ronin8317MEMBER

      Both the Republican and the Democrats will throw everything including the kitchen sink into the two Senate seats run-off election in Georgia. If the Democrats can’t win both seat, none of Biden’s cabinet pick will be confirmed. As the Supreme Court have ruled against recess appointments, Biden may be the first president in the USA who had to wait 2 years before he can swear in his cabinet.

      • RobotSenseiMEMBER

        I don’t think it will be that bad. They’ll confirm people, but they really will have a pretty fearsome veto power.

      • Narapoia451MEMBER

        One of the biggest downsides of the repubs in the US is that they don’t have a lot of people with deep historical education in their ranks, or value it. Would have helped in their recent blunders through the middle east. More importantly their actions since 2000 are typical late stage republic death throws. Overthrowing established norms, each more significant than the last.

        The irony of the situation is the people that designed their republic had much better historical educations, understood this as one of the key factor in the death of republics and tried to plan for it. Will they succeed? Let’s watch…

    • You can add Rayguns changes to federal voting whilst your at it, seems to have some effect on things today.

      Anywho for those that might have forgotten some of my old comments [looooong time ago] and what some fancy as Democratic voting – Bev Harris and black box voting.

      https://blackboxvoting.org/

    • “he needs to lead reform of the Neo Liberal consensus”

      You cannot reform it. Firstly they need to name it. Then admit it was a huge 2 x generational mistake. Then name names. Then abandon it and pursue the policies he took to the election which are good policies.
      Early signs, eg. getting stuck into AOC are not good.
      Social Democracy is popular. Libertarians don’t want to hear it but it is.

      “Consensus” and unification will be a disaster just like it was for Obama, where it mean’t letting Wall St off the hook for wrecking the global economy, not removing one CEO of the banks. How is that possible seriously. You can’t just unite with people who are actively trying to wreck a country. Makes no sense.

      • Seattle is also the home of the assistant less shopping
        Amazon: Fully automated. No staff required.

    • Who the heck thinks Biden wants to challenge the neoliberal consensus? The whole point of his beating Bernie was to ensure its re-enshrinement…

      • GunnamattaMEMBER

        Thats probably right, but ion doing so all he/they really do is guarantee there will be another Sanders and probably another Trump. The next Sanders may well be a bit more hard core, and the next Trump may be a bit more cogent and well organised

        • Officer 1, to Officer 2, Why the long face?
          Officer 2 Bravo is lost.
          O1 Maybe he’ll just come back to the station .
          O2 : No I don’t think so , he’s lost. This is Logan, not Inala
          O1 : Well, lets put up some lost dog posters.
          O2 : Naw, that wouldn’t do any good.
          O1 : Why not?
          O2 : He hasn’t been trained to read, yet.

      • Most punters will be on the economic scrap heap by 2024
        as a result of a myriad of economic failures.
        I think it was Bill Gates who highlighted the links which only become apparent with massive economic failure.
        keep your eyes open.

    • On the Evening of June 17, 1826, a man by the name of Frederick Fisher, left his home in Campbelltown and was not seen again.
      On a night almost four months later, a wealthy and respectable Campbelltown farmer, John Farley, stumbled into a local hotel in a state of shock, and claimed he had seen the ghost of Frederick Fisher.
      The ghost according to John Farley, had been sitting on the rail of a bridge and had pointed to a paddock down the creek, then faded away.
      The body of Fred Fisher was later discovered by police in the paddock where the ghost had pointed…
      Many local residents believe the ghost of Fred Fisher haunts the Campbelltown Town Hall.
      Update: Many politicians believe the ghost of Malcolm Turnball haunts Parliament House.

        • I’ve heard some ghost stories, first hand, from very credible people
          they put the shiver right through me, I dont know what is going on.

          • Same here, WW. I have always been a non-believer in superstitions etc. but I have had three long conversations with what you, yourself, would describe as credible people. One, in particular, was a great, long time friend and a totally BS-free bloke whose story, confirmed by his brother, truly freaked me out. This occurred when they were teenagers and living in Wollongong, the other two in Tas in older, rural properties. One of those, in Richmond, had a mature aged woman and her adult daughter quit a house-minding job in the middle of the night and run to their car.

          • Y, if i thought for any lenght of time that ghosts were real, I would be in the nearest church, unloading a heap of sins.
            trouble is, I think I have seen one my self
            So.I am just ducking and weaving till I cark it
            Kerry Packer, says there is nothing there, hope he is correct.

    • “Barnaby had become aware of what (journalist Sharri) Markson was chasing so I asked him what was going on,” Mr Turnbull wrote.

      “He gave me an unequivocal assurance he wasn’t in a sexual relationship with Vikki.

      “He told me Vikki was lonely, didn’t have family to support her and was concerned about her health, so to provide moral support he’d accompanied her to the doctor for some check-ups.

      “Without questioning his assurance, I reminded him, just for the record, that it was simply not defensible for him, as deputy prime minister, to be having an affair with one of his staff. It could only end badly, I told him, and he agreed.”

      Mr Joyce subsequently told The Australian he wasn’t obliged to answer personal questions.

      “If it was something personal, as if I was going to tell him,” he said. “There are personal questions you are not obliged to answer like ‘do you masturbate’.”

      This man was Deputy Minister.

      • Mining BoganMEMBER

        Yes he was. But the MSM knew and refused to report on this at the time

        I’m not sure if that’s a bigger worry or not.

      • Add:also a waste of time asking BJ about the inland rail
        Note the cost of the IR was projected to be 4 bill
        it is now 11b, and counting.
        where did that money go?

  2. The Traveling Wilbur

    News just in: Republican investigation into voter fraud finds evidence of tainted ballots in Balad.

    Balad, Iraq.
    They were under the WMDs.

  3. The Traveling Wilbur

    Police dog Bravo’s press conference: “While we encourage our members to unleash their potential, we prefer it if they are on 2-legs when they do.”.

    (JK)

  4. Watched “From Musk to Mars” last night … think some would have enjoyed living in Boca Chica, Texas.

    BTW where did all the Burt Rutan and Virgin Galactic aficionados vanish too – ?????

  5. We already have enough GHGs in the atmosphere to raise temps 4°C over time. That’s extinction for us, because it means heat over land will be 10°C+ warmer. No more crops.

    But we’re on it, right? We’re fixing this! Biden! Greta!
    Nope. It’s only getting worse every day.
    https://i.postimg.cc/K4Xs6L60/primary-energy-consumption-by-source-2019.png

    Here’s what you have to do. Strip naked, lie on the floor, bend your legs to the side. bend over and kiss your crenellated orifice goodbye.

  6. Funny how people are now getting stuck into AOC.
    When it was her push (with Sanders) in the party for the first decent set of policies since Lyndon Johnson, which got an otherwise weak candidate elected with more votes than Obama.
    Increase the minimum wage, forgive student debt, expand healthcare, increase taxes on the wealthy.
    That’s what people voted for not some Dick Morris third way pretend politics centre rightism.
    If they abandon the AOCs’ and return to that garbage they really will be out in the wilderness again..

    • You’d think she’d be an MB hero. Young, working-class roots, self-made, smart, policy positions pretty much smack bang in the middle of the “No Bvllsh!t Party” manifesto…

      • I think it’s trending on Sky News.
        Give it a few months and people will figure out they’ve been had again…
        Just like with Shorten, Dan Andrews, Palaszczuk etc.

          • ErmingtonPlumbingMEMBER

            My brother in-law spent years engaging in intense daily stretching routines during his teenage years with a similar goal in mind.
            His parents were quite proud of their boys commitment to physical fitness at the time.
            Lol,….if only they knew where his motivation came from.
            🤣

          • The Dems lost because of their focus with a side of grafting …. targeted moderate republicans and as AOC notes the machinations of the Lincoln project E.g. funding for paydays …

          • You said “They lost seats in the House and couldn’t flip the Senate because of her”

            Now you seem to also be saying she should take some credit for the presidential? result.

            I make the point again that this line that AOC cost votes doesn’t tie back to evidence.

            Biden increased popularity when he captured the Sander’s (self avowed democratic socialist) vote, the Biden-Sanders task-force, when Sanders said he had more time for Biden than Hillary, when Biden adopted Warren’s policies, when Biden adopted *some* of AOC’s green new deal agenda.

            In other words the Democrats increased their popularity *as they moved left* and adopted the most progressive agenda since Johnson.
            To turn around and say, AOC cost votes … because.. socialism, is pure Murdoch HS.

      • No they lost seats because the Dems can’t find decent messaging to counter Dems = socialist/communist.
        The dems have been hopelessly woeful at reaching out to blue collar/rural voters until trump won and even then it has been pretty poor. Also they did no door to door this cycle due to COVID
        Obama built a grassroots org and left it to die after he won the presidency. Republicans were more than happy to step in.

    • Whether they ‘abandon’ them or not, if they don’t have the Senate, then how much of it can the negotiate for? Maybe not that much. In office but not in power.

  7. Just heard on ABC how most EU leaders rushed to congratulate Joe Biden on his victory and how Russia is quiet as if that is bad thing.
    Technically Trump is disputing the results and therefore it is not known if Biden will win as Trump is taking some state results to court.
    In all fairness Russia is doing the right thing and waits until legal challenges play their course and it is established who won. But again, Russia is portrait as bad and ugly.
    It will be funny if Trump wins the court challenges and recounts give him Arizona, Pennsylvania, Nevada and Michigan. I’d like to see how these EU leaders will look when they have to call Trump to congratulate him.
    Aren’t these EU leaders now meddling in US elections?

    • Pretty sure election was last week. How can you meddle in the election when the voters have already voted?

    • It is important that all legal challenges are allowed and treated like any other court case to support the state. I am sure there was fraud on both sides with such a ramshackle system but not enough to sway the general result.

      Republicans will want Mr Trump to fade away otherwise his carrying on will make the Georgia Senate re-runs a disaster for them. The best thing to do with him would be to offer him a platform to get under Mr Biden’s skin for the next two years. His experience with TV will make him a natural for the Trump News Network which will help keep the base he has built for the Republicans cohesive.

    • migtronixMEMBER

      “in all fairness Russia is doing the right thing” for whom?

      The Russia, Russia, Russia thing I think I understand now. When Wikileaks dumped the Podesta emails, someone showed their hand. That Assange is in a hole in the UK having been smoked out of the embassy by Trump, and Snowden is well in Russia – I think I know what hand they showed.

    • ErmingtonPlumbingMEMBER

      My ears pricked when listening to that ABC reporter talking about a lack of Russian response to the Biden calling of the election.
      He went on to say, this from a Russia that “Gleefully” celebrated the 2016 Trump victory.
      Can anyone provide any examples of this Russian “Gleefullness”.
      I thought it an odd use of phrase and even if it was accurate still just irrelevant fluff.

    • migtronixMEMBER

      It was sitting in the works waiting for Trump to fall. Morrison can cut the budget but not the airing.

    • ErmingtonPlumbingMEMBER

      Toxic masculinity was the opening thread on ABC’s Q&A tonight.
      The first panelist to speak (some Sheila) blandly responding to a question about power imbalances and parliamentary affairs simply stated men (or people I can’t remember) need to keep “it” in their pants.
      I yawned, turned to TV off and got up and went to have a shyte.
      Their identity politics schtick doesn’t even grate me anymore. It just bores me to death.
      I’m another life long ABC viewer and former supporter who today really couldn’t give a fk if they were no more

  8. Gees, I have seen videos of drive by shootings in Northern Mexico that were not as savage as this hit job!!

    Just as the villagers poke their heads up to inspect Porter’s bullet ridden carcass, the 4WD with the H&K mp5 toting cholos comes round for the second run on Tudge

    • It seemed a case of Malcolm’s revenge which might have connotations of saving the party after scuzmos&pals tenure.

  9. TailorTrashMEMBER

    Heard from a number of ordinary strayans that the ATO
    is hammering them for every cent they can extract ….
    Interest on savings ( yeh .. however little )
    …income from ABnB …any second gig income ….anything they can get ….
    Need to pay for the profit keeper , bonus keeper
    dividend keeper …….
    As always hammer the little people but don’t go after the big stuff cos that is hard ….we don’t do hard in straya

      • TailorTrashMEMBER

        Yes quite a few …. renting out a room or a converted garage…..or their own homes over Christmas if
        well situated ……small people eking our small returns

        • C.M.BurnsMEMBER

          Sounds like you’re friends with many tax dodgers, who seem to think that paying lawfully owed taxes is something that “other people” do

          • TailorTrashMEMBER

            My point was that little people are getting hammered hard for every shilling of tax they may owe under the law ( I took no position on whether they should be liable to pay or not )
            It would seem those same taxes might be flowing back to profits and bonuses while one wonders if the big players are getting the same attention on their liabilities
            under the same laws …..

          • Well if your so-called little people want fair treatment by the ATO they should get $118,000 worth of advice from KPMG like the boss of ASIC did.

      • I'll Stir Fry You in My WokeMEMBER

        So many MBers appear to be imperilled by the thought of walking whilst concurrently chewing gum

  10. How long before the Russian honeytrap videos on Trump come out?
    And how long before his soon to be ex-wife dishes the dirt on him?
    Stay tuned…and stand by.

    • ErmingtonPlumbingMEMBER

      Not really into that Golden showers stuff.
      But look forward to Harry’s report after “Getting into” and investigating these Russian videos.

  11. Mining BoganMEMBER

    That Porter bloke looks like the human sacrifice type.

    There will be many the slayed body of young staffers in his basement.

  12. And just how wrong was Bcnich? The tea leaves/ crystal ball/ sun spots let you down big time mate.

  13. who thinks Scumo will say he is appalled by what he saw on Four Edges and will demand his ministers to stand aside or go – same as Aus Post.

    • Ronin8317MEMBER

      Not me. The Australia Post CEO was let go because she forgot to give a watch to the Communication Minister.

      • ha. these things always feel like bombshells… then you wake up and remember we live in a kleptocracy that stopped promising accountability a long time ago.

        enjoy the bloke in chief deflecting this one at a unrelated announcement tomorrow…another vaccine deal, or a travel bubble announcement?

    • happy valleyMEMBER

      Nah – he will come out and say that he has complete confidence in Tudgey and Chilla Porter.

  14. When one of the blokes that may or may not have been mentioned on a particular programme first came into politics I heard some very interesting (alleged) things about what he got up to in his early 20’s. Used to hang outside the ladies room at a particular nightclub targetting chicks that were so drunk they could barely walk. Real sexual predator kind of stuff hunting his prey.

    All alleged of course, and they may or may not have been on a particular programme because I haven’t watched it yet.

    Makes my skin crawl whenever his mug has been on TV.

  15. I’ve seen men that have been marked out
    Ruled out by grim assassins
    They fell hard on instant replay
    And I’m never going there

  16. I'll Stir Fry You in My WokeMEMBER

    Pies fans – wtaf is going on with Treloar and yes we will take him at Demonland but not for 1m p.a.!

    • Oh boy. This is going to trigger the “stolen election” types.
      Biden wins and the next day covid defeated. lol.

  17. That was good. Thank you. Life is too short to wast any more time reading the comments on MB. What a load of crap it has become over the last couple of years.

    Cheers.

    • Responding to the vaccine. Unfortunately, the Covid Mink mutation doesn’t seem to respond to the vaccine. That should have been the news of the day.

  18. How Privatization Hobbled Sweden’s Response To Coronavirus

    By
    Anton Ösgård

    Sweden’s longtime refusal to impose a general lockdown has seen it portrayed as an alternative “model” for coping with the pandemic. Yet death rates in its care homes have been appalling — and as a scandal that broke last month highlighted, much of the blame lies with the breakup and privatization of the country’s once-mighty public services.

    https://jacobinmag.com/2020/11/sweden-coronavirus-covid-nordic-scandinavia