Macro Afternoon

 

The retracement meme continues as trading positions pullback from extremely overbought levels post the vaccine news across the region with the USD largely unchanged after gaining strength against most of the majors after last night’s US CPI print. Gold is still under enormous pressure here after its big retracement, hovering slightly below the $1880USD per ounce level:

The Shanghai Composite is selling off fast again, this time down 0.7% going into the close, currently at 3313 points while in Hong Kong the Hang Seng Index is off 0.5% to be just above 26000 points. Japanese stock markets have finally stumbled with the Nikkei 225 down over 1% to 25263 points going into the close while the USDJPY pair has given up more ground to be under the 105 handle:

The ASX200 has continued its selloff, down just under 0.5% to currently sit at 6393 points while the Australian dollar continues its own rollover after pushing well below the 73 handle overnight, sitting right on daily support here as momentum goes negative:

Eurostoxx and S&P futures are in a holding pattern here with the four hourly chart of the S&P500 trying to stabilise right on its October highs at the 3500 point level but short term momentum is waning, so watch for support to come under pressure:

The economic calendar finishes the week with EZ wide GDP for Q3, then the closely watched Uni of Michigan consumer sentiment survey.

Have a good weekend and stay safe!

NB: picture above is Queen Charlotte Sound, NZ.

Latest posts by Chris Becker (see all)

Comments

  1. Thought I would pick some of the brains here. Lots of banks offering a new round of subordinated type products, eg Westpac Capital Notes. They offer BBSW 3.4 – 3.6%. If you want to make your cash work a bit harder, (but don’t necessarily want to buy any more shares at this point in time), would you put some of your portfolio in these types of products? I have had some good safe returns from these sorts of things 10 years ago, (Crown Notes, NAB, WBC etc), when term deposit rates started going south. Managed to get BBSW 4.5 – 6.0% depending on the institution. Giving it a rethink now but gee, 3.4% is getting on the low side of making your money work. Keep in mind this is for the, ‘low risk,’ section of the portfolio though.

    • happy valleyMEMBER

      Bank deposits because of a worthless deposit guarantee and the potential of deposit bail-in are now defacto quasi equity earning SFA for enormous credit risk, but based on DL-S’s current nationalised banks scenario or otherwise, the bank subordinated type products are essentially equity offering fool’s gold returns?

  2. here is my view:
    With infected numbers going up in the US and EU we will soon start to hear of more and more shutdowns and restrictions. Many people, especially the elderly, will/have stop going out and spending voluntarily and this will trigger more corporate defaults or risks of defaults.
    CBs and Govs will be forced to bail-in most if not all of these corporations and on top of that there will be more stimulus unleashed to pay people to stay home. Money for food will be provided for free while banks and landlords will be told to back off – no evictions.
    These events will trigger price of gold to jump above $2300usd and this time it will stay there until next round of fiscal stimulus that will fix thing.
    Before explaining what happens when the green new deal launches, first we will see commodities like copper and nickel go down so all copper and nickel miners will be trading at massive discounts.
    I hold fair bit of gold, copper and nickel miners right now but I also have fair bit of ammo to use if prices start to fall.
    Next stage I think will kick in when we start to see infections in EU and US getting under control. This is the point when one should start going all in on copper and nickel as in 12 months’ time these miners shares will triple in value.
    This is how I see things playing out. Will it work out the way I see it? I have no idea. But I thought I lay it down now as I believe we are at very important stage where things may start to play out real fast.

    • The Traveling Wilbur

      Thank you for that.

      “Moar stimulus” those were the key words. We are only in trouble once that stops. At current rates in England and the US we might be at the ‘I see dead people’ (Spanish Flu) stage well before the stimulus stops. Maybe that was Donald’s plan all along.

      Either way, moar infection means moar support from CBs. Cannot go past CB support of markets, bonds and low rates. Buy now! Until people stop dying!

    • Meanwhile, back a the ranch, the poo bobbed up so hard, it jumped out of the toilet bowl and shot straight through the ceiling, roof and is just about hit escape velocity heading off to Alpha Centauri

      • First, I am not suggesting you follow my trade ideas.
        Second, in the last 2 months I said it is going to be hard for Trump to win and last 2 weeks prior to election I said – I can’t see how Trump will win this one. So basically I called Biden to win.
        During that same period I was happy to see Trump win as I hated how the MSM was so biased and never ever criticised Biden. Also, how MSM destroyed Tulsi and Bernie. Yes Fox was on Trump side but that was about it from the main stay media.
        I commented on many occasions that my investments are positioned for Biden to win but I will laugh if Trump wins – that does not mean I meant Trump will win. Plus I would have made money even if Trump wins but with Joe I should make lot more – if my theory is correct that is.
        Wanting someone to win and thinking someone will win is not the same. But I did cheer for Trump – seeing Rachel M and Hillary cringing would have been priceless.

          • NikoMEMBER
            September 21, 2020 at 3:04 pm
            off course Trump will win.. Good Morning, Sunday Morning..

            https://twitter.com/caitoz/status/1307853978646978560

            I was making fun of Pelosi. Read the full discussion there. I was not predicting Trump will win. We were discussing various scenarios (from memory) if Trump refuses to leave office and if there is civil war.
            Since you have nothing to do but digging meaningless old comments, be a good boy and go and find those comments where I said (on few occasions) that I could not see how Trump will win.
            On one of those occasions I remember someone from US commented that I underestimate the number of people that hide they will vote for Trump. I remember saying that if that’s true then Trump may win. But my view was for Biden to win a tight race. Never saw blue wave though.
            And why is this relevant anyway? What are you trying to prove. I am not saying my trade idea is right and people have to take it. I put it forward.
            Do you have anything of substance to contribute or you just spend time fact checking?

          • Nothing wrong with fact-checking. You must do it every time one of your companies put out an ASX announcement.

          • As a casual observer of, casual (not rabid), Trump supporters I also thought Niko was a firm “Trump easy win” poster. Not gnna say you were or weren’t Niko, but just that my casual observation had you pro orange.

          • @winning – I get that mate. I wanted him to win because Dems decided to pick just as rotten candidate as Trump himslef. But I did not say he will.
            I really tired to find the comments I made that I can’t see how Trump will win this one but I just can’t find them.

          • mikef179MEMBER
            October 28, 2020 at 1:35 pm
            I’m curious what you were saying prior to the 2016 election. Were you saying Hillary was a shoo-in?

            Anyway, regardless, I tend to think the Donald just won’t make it over the line this time, though I am not totally confident by any stretch. Without the pandemic, Trump would have won easily. But he has bungled it so badly that many swing voters are ready to jump back to the Dems. I think it will be close, but Biden will make it.

            NikoMEMBER
            October 28, 2020 at 1:37 pm
            thinking same.

          • read the wording – hope Trump wins.. not Trump will win.

            footsore
            October 27, 2020 at 8:43 pm
            Link a few examples for those not brave enough go there.

            NikoMEMBER
            October 27, 2020 at 8:50 pm
            will get moderated.. probably for right reasons. Just go on tweeter and type hunter biden and click on the hashtag. this is not right.
            Hope Trump wins. If his son was involved in this kind of stuff all MSM would have had it on their front pages and screen all the way until elections are over.
            Speculation Obama’s daughter is involved but I’ll leave it for you to see and make up your mind. I am not convinced but that girl looks way too young to be adult.

      • NikoMEMBER
        October 23, 2020 at 4:31 pm
        last debate has potential to save Trump. Biden struggled and he struggled in areas where he should have put Trump on a defensive. I think Trump even managed to sound better than Biden on covid. I am not taking sides but Biden somehow managed to make Trump sound reasonable on the environment too. Biden made a very big mistake when he said he is going to shut the oil industry. You do it but you don’t say it.
        Even if Trump wins the oil industry’s days are numbered. Trump is not going to stop the proliferation of EVs. He is not going to go against jobs as many manufacturers are retooling their US plants first. Also there are number of plants being build to manufacture EV batteries.

      • NikoMEMBER
        October 20, 2020 at 2:11 pm
        I agree but I’ll beleive it when I see it. And polls were historically wrong back in 2016, why can’t they be wrong again? Everything’s fake and so are the polls.
        I am even positioning for Biden win by taking stakes in Ni, Cu, Zn, Au stocks but I sort of like to see Trump win becaause of who the Dems picked as their best choice.

      • Even when I thought Trump might have a chance I knew it it’s not going to be easy.. But I can’t recall calling Trump to win – like clear call.

        NikoMEMBER
        October 13, 2020 at 3:23 pm
        thinking same but this time may not be as easy for Trump. I keep changing positions.. not easy to read where things are going when all MSM is only pushing narrative instead of reporting news.

      • Found One:

        NikoMEMBER
        October 9, 2020 at 5:49 pm
        and after I sold my BBUS at small loss futures started to fall. Was not in a mood to hold overnight even though I know there won’t be any deal.

        Even though I want Trump to win I find it hard to see how can he pull this one off. If Dems don’t agree to new stimulus markets will crash and Trump will be in trouble. If Trump agrees to Dems terms markets will rally but everyone will credit the Dems and Trump will be seen as weak.
        He really needs miracle to win. He needs 70% of all wh1tes to vote for him and he will need huge turnout. In US only about 35% of voters vote if my memory serves me right. Possible but it’s not going to be easy for him.

    • Jumping jack flash

      Agree, lockdown is all but inevitable in the US now.
      I expect trillions in stimulus to (over) compensate.

      The global economy is saved. At least for another 6 months. Thanks, COVID.

  3. GunnamattaMEMBER

    The economy as we knew it might be over, Fed Chairman says
    https://edition.cnn.com/2020/11/12/economy/economy-after-covid-powell/index.html

    he Covid-19 pandemic brought the economy to a screeching halt, and while it has started its long road to recovery, the economy we knew is probably a thing of the past, said Federal Reserve Chairman Jerome Powell on Thursday.

    “We’re recovering, but to a different economy,” Powell said during a virtual panel discussion at the European Central Bank’s Forum on Central Banking.

    The pandemic has accelerated existing trends in the economy and society, including the increasing use of technology, telework and automation, he said. This will have lasting effects on how people live and work.

    While technological advances are generally positive for societies over the long term, Powell said, on a short-term basis they create disruption, and as the market adjusts to the new normal the pain isn’t shared evenly.

    For example, it’s likely that lower-paid workers, as well as those in jobs requiring face-to-face interactions, such as retail or restaurant workers, will shoulder most of the burden of this shift. These groups, heavily skewed towards women and minorities, have already been among those most affected by pandemic layoffs, Powell said.

    The post-pandemic economy is also at risk of being less productive: women have been forced to quit their jobs due to child care responsibilities during the crisis, and children aren’t getting the education they deserve, Powell said.

    Generally speaking, inequality holds the economy back, the central banker said.

    “Even after the unemployment rate goes down and there’s a vaccine, there’s going to be a probably substantial group of workers who are going to need support as they’re finding their way in the post-pandemic economy, because it’s going to be different in some fundamental ways,” Powell said.

    Methinks Mr Powell is putting his hand up for a serving of UBI……

  4. https://www.telegraph.co.uk/business/2020/11/11/trump-contaminated-brexit-biden-could-saviour/

    (Reprinted in today’s Fairfax press)

    By hijacking Britain’s pursuit of sovereign self-government for his own mischievous purposes, [Trump] linked the Brexit cause to four years of Trumpian assault on civility and the world’s institutions. Anybody who follows global commentary knows that the reputational damage has been calamitous.

    There is a Burkean conservative case against a restless EU project that is forever seeking to accrue more power and keeps disturbing settled practice with one vaulting treaty after another, mostly on thin popular consent – or, as with the Lisbon Treaty, against explicit refusal of consent.

    There is a liberal, globalist, free-trade case against an EU that is more protectionist and hostile to innovation than its defenders admit, and less green than it pretends.

    There is a Left-wing case against an EU captured by corporatist elites, with a “neo-liberal” austerity architecture set in stone under the Acquis, making it impossible for any genuinely radical government to push through transformational change ever again. It outlaws the sort of Roosevelt reflation that Joe Biden proposes for America.

    There is a constitutional case against an EU with its confederate lines of accountability, uneasily joined to federal bodies of immense power – commission, supreme court, central bank – that operate beyond Democratic oversight. There is a case that Britain’s position as a non-euro member is unsustainable in an EU constantly creating fiscal machinery to shore up a dysfunctional monetary union.

    Yet the world knows none of this. All has been conflated with Trumpism because that is an easier narrative. It is why even a well-informed politician such as Biden could slip into caricature, calling Boris Johnson an “emotional and physical clone of Donald Trump”.
    .
    .
    .
    Biden will, like other presidents before him, find that when push comes to shove, the UK is a reliable soulmate and the EU is not. Indeed, he already knows this from fifty years at the heart of US foreign policy.

    He will face a tray of files on his Oval Office desk marked “Europe being bloody difficult”, such as the Molotov-Ribbentrop gas pipeline (Nord Stream 2) intended to undercut Poland and Ukraine and strengthen Vladimir Putin’s energy stranglehold, all with German collusion.

    He knows that the EU plays it both ways with China, hoping that it can straddle – and profit – as a third force in global affairs, while the two superpowers struggle for ideological supremacy.

    But refusal to take sides between the democratic West and Xi Jinping’s totalitarian nightmare is no longer a respectable option. London and Washington at least see eye to eye.

  5. happy valleyMEMBER

    Current personal term deposit rates to die for?
    Term Interest Rates (% p.a.)
    90 day rate
    0.05

    120 day rate
    0.05

    180 day rate
    0.07

    210 day rate
    0.10

    270 day rate
    0.18

    330 day rate
    0.22

    1 year rate
    0.22

    2 year rate
    0.25

    Hop in before you miss out.

    • happy valleyMEMBER

      Aussie Broadband recently listed on the ASX. Shares were issued at $1 and finished first day at $1.95 and a few weeks later still are that.

      Google Aussie Broadband and get to their website where you can find their prospectus and history. Off memory, it started from the merger of two small Victorian ISPs quite a few years ago.

      Service wise – 2 contacts of mine have had decent experience with them. With NBN installation, I would have considered Aussie other than my business email address known to many of my contacts/customers has the name of my current ISP as part of the address and was thus, not transferable.

    • Haven’t changed to it yet, but it is where we are heading.
      We live in Elsternwick,Melbourne, about 8 k from centre of city.
      We are with Optus, which is lamentable( on their highest plan we hit download speeds between 2-15 bps)
      I am thinking about training carrier pigeons..
      I’ve been solidly recommended Aussie for our area at least.
      Don’t go for the basic plan, go one above I’ve been told.
      But glowing recommendations from another local who has been with both Optus and Telstra.
      Might be worth asking a few locals to see if it is as good in your area.

      • happy valleyMEMBER

        We are with one of the big brutes and are definitely not FTTP. As a small business dependent on reasonably fast internet, we pay $95 a month and get 100+ Mbps downloads and 20 Mbps uploads fairly consistently throughout a day.

    • I signed up with Aussie when I moved into your old stomping ground

      I’m pretty happy with them overall. Their service is good. Their app is very good for seeing service status and speed.

      Occasionally shits itself for minute or so anytime between 2pm and 4pm; only a problem if you’re on a VC at the time. And suspect this is more due to the LNP wet fart of an nbn, than their own operations

    • Been with Aussie BB for about 18 months. Service support is excellent. When NBN started they made sure that they had sufficient bandwidth to produce promised speeds. May not be the cheapest but seem to be customer focused.

    • I am with Optus. I had lots of random drop outs and Optus support was completely hopeless. Offshore to Raj and crew who always followed the same script…

      Anyway finally after enough complaining they sent an NBN technician around. He found the pit at the front of the property had a corroded connection point, and the 1 at the house (old Telstra box) and inside he cut off the old 1 and recrimped it. It’s been about a week and a half now and no more random drop outs.

      Hellalejah as Jeff Buckley sang.

      • I have a vintage 1992 optus cable connection, works great, never had a single dropout in the 8 months I’ve been hooked up. I also have my home phone VOIP as no copper hook up here.

        It’s about to be disconnected due to the NBN replacememt, all good except for the fact that NBNco forgot to involve my place in the upgrade rollout. Lodged my problem with the nbn logic machine (try that out, ridiculous, literally no option for real human contact), no response. Normally wouldn’t care as I have a massive mobile data plan and unlimited calls but for some strange reason my 1960s roof is made out of unobtanium and I get zero mobile reception inside.

        The next big driver of rents in Brisbane apartments will be nbn access, will be interesting.

        • Narapoia451MEMBER

          My place also didn’t have an NBN connection, I complained to my ISP and they dealt with NBNco to get it set up. Took about 11 months but they didn’t disconnect the previous plan until it was sorted.

          • Cheers for the tip, already tried optus and they said go to NBN, I guess I’ll just have to keep hassling optus. If I get disconnected they don’t get any money from me so surely they’ll try harder lol

    • 👍🏼
      ‘Under the Western Freeway’ is an all time favourite.

      Love listening to it from start to finish. Real journey. The bass in it is perfection hey (amongst all the other perfection of course!).

  6. Well looks like China has had enough of trying to add credence to the Trumpista’s hissy fit and driving a wedge between Americans, by finally calling Biden to congratulate him. Well done. It only took a week.

    Now if only Russia can get one more thing through with their man by having him withdraw the US from Afghanistan.

  7. Why does the Woke MSM insist on calling v_brants ‘Indian Australians’ most of the time but when they do something wrong, such as bring new COVID into the country, they are just ‘Australians’

    https://www.abc.net.au/news/2020-11-13/five-new-coronavirus-cases-darwin-from-india-flights/12882662

    The Northern Territory has recorded five new cases of COVID-19, all of which relate to repatriated Australians from India

    And these cunse want to bring in their sick elderly parents because it is too hard to look after them remotely from Australia.

    Go and FO

    • Once again, not just all the sub conts that want to do this. Imagine how many old poms would be on planes right now bringing covid with them as they just “visit the kids” (escape lockdown) if we had open borders.

      Lock the borders to all countries. I don’t want any of em.

      • Again, plus many to this guy. He gets it. People be people. Some are more selfish than others. And it isn’t gender or the colour of their skin or which football team they support or how they wear their hair or which invisible super hero they get worked up about that is a shortcut to picking it out. Demonise one group and you give the selfish in the others an opportunity to up their dodginess rating.

          • Tradies in utes is where my attempts to not stereotype fall apart. Sometimes it boggles the mind watching them drive. And people in black SUVs of European makes. I do fantasize about driving a Mad Max type vehicle about, just obeying the road rules, and thus damaging their cars as I have not yielded to their rude and improper intentions to enter traffic whenever they wish.

    • Maybe they read the MB comments section and know that it will cause a commotion among virtue signalling culture warriors that come here to post their grievances about every slight against all they take to be holy and pure. They do it for the LOLs.

  8. A 70 question test to see where you may sit on the political economic spectrum.
    https://8values.github.io/

    Apparently I’m a libertarian socialist. Which I’ve discovered isn’t a contradiction. It seems to be a slightly less way of saying anarcho socialist. However, I’ve also learnt that anarchism is not always opposed to democracy but instead to exploitative forms of democracy. Such as plutocracy. All in all it has left me a bit bemused. The only thing that I could say is that I’m to the left of Ayn Rand and to the right of Karl Marx. But there’s a much bigger problem, that stops me sleeping at night.
    https://www.youtube.com/watch?v=-Xs1lUK4jas

  9. For all the libertarians past and present ….

    “Mr. Koch and his late brother David seeded the political landscape with conservative and libertarian ideas, then built an infrastructure to nurture them. Koch-aligned ventures fund more than 1,000 faculty members at more than 200 universities, helped bankroll think tanks such as the Cato Institute and the American Enterprise Institute, and supported the American Legislative Exchange Council (a nonpartisan organization of similarly minded state legislators) to write bills that were introduced and championed by Republican state lawmakers across the country.

    Mr. Koch’s influence increased in 2010 after the Supreme Court ruled in Citizens United v. Federal Election Commission that corporations were exempt from restrictions on political spending. That controversial ruling brought a flood of new money into politics from wealthy individuals, including the Koch brothers, George Soros and Sheldon Adelson. The ruling also allowed nonprofits to more easily keep the sources of their funding secret, allowing so-called “dark money” to influence elections.

    The Koch brothers’ organization raised and spent billions of dollars, untethered to the limits of the campaign-finance system. The wave of money influenced policy areas from health care to environmental regulation, foreign policy and unionization. Critics warned that the Kochs were rigging the public debate to enrich their own bottom line by casting corporate self-interest as a new form of populism.”

    https://digbysblog.net/2020/11/regrets-hes-had-a-few/

    Too flesh that out a bit more ….

    “The Koch Bros. helped fund the Democratic Leadership Council around 1984. By 1987, The DLC was being fully funded by Wall Street, oil companies, and other corporate entities. The DLC, a well funded attempt by Wall Street that was successful in subverting the party of FDR with the election of Bill Clinton.

    The modern synthesis of Democratic & Republican corporate philosophies began with Democrats & Nixon. With health care and the creation of HMO’s. By the time Carter was elected, the country was primed for Universal Health Care (UHC). Teddy Kennedy wanted credit for UHC and detested Carter – as did most of the Democratic Party; Carter being an outsider.

    The Democratic Party leadership sank the best chance for Universal Health Care & marijuana legalization in the late 1970’s. All because the Democratic Leadership detested Carter enough to oppose all the Carter represented and proposed.

    By the time Reagan was elected with the help of crypto-Nazi Paul Weyrich and actual Nazi sympathizer from the Arrow Hungarian Party, Lazlo Paszteur. Both were involved in the creation of The Heritage Foundation, The American Enterprise Institute, and The Moral Majority. While Democrats were ready to acquiesce to the old practice of financialization of the economy, rebranded as “supply-side economics”. Something FDR had fought against. Tip O’Neill was an enabler of Reagan and his merry band of thieves and criminals.

    The best way to defeat one’s enemy? Is to co-opt the leadership. What The Koch Bros. and others could not foresee was the increasing reliance on The Republican Party on religious voters to win elections. That effort to recruit religious voters began in the very late 1960’s. 1994 was the turning point of Republicans morphing from a party of business to that of religious fanaticism and business. Perhaps the best example of the modern Republican Party would be that of Dominionist Christians with their focus on wealth being a sign of favor from God.

    Coincidentally enough, the last few years saw another religious movement. Or, at least one based on a religious conspiracy and hoax.

    QAnon.

    In 1980, a book came out by the name of Michelle Remembers detailing the abuse of a child for Satanic purposes. Within three years, the book spawned Satanic Ritual Abuse hoax that at its worst detailed a worldwide conspiracy of rich and powerful elite organized to abduct children for sexual torture, child trafficking, and ritual sacrifice to Satan. The Reagan White House was itself not immune from being a suspected den of child molesters. Sound familiar?

    QAnon.

    Perhaps the best known case of SRA prosecuted by authorities was the McMartin Preschool Trial. A product of the hysteria gripping the United States in a Satanic Panic. Substitute McMartin Preschool for Comet Pizza, a “tunnel” under the pre-school with the non-existent basement under Comet Pizza. Change a few names, modernize it. And publish it on social media. Just like 1980’s Satanic Ritual Abuse that QAnon is based upon? We have a Satanic Panic for the 21st century.

    All of which the Republican Party old guard has to contend with. A creation of their own making. As the Religious Whacked Out Right – those minds easily susceptible to hoaxes such as SRA/QAnon – became a major force within The Republican Party.

    This is what the Koch Bros. helped create. The DLC, very intentional subversion of The Democratic Party. And QAnon, unintentional to be sure.” – snip

    Interesting to see someone argue about top down social organization yet at the same time deploy squillions over decades to achieve just that outcome … difference being 600+ billionaires dictating social organization verses one person one vote on paper hand counted in open public settings and call it freedom.

      • Please attempt to provide any evidence of information that supports your baseless accusation, throwing a term out without providing substantiation is pettifoggery at best and a milquetoast attempt to avoid the subject matter a close second.

        All above and more can be directly substantiated from more than one source, so the onus is on you to provide something that refutes both the events and agency depicted above.

        Or would you prefer deception when discussing any topic about what set the stage for all that ails – us – today- ?????

        • You start by baiting libertarians. Then you segue with a single mention of libertarianism in the first sentence, albeit basically saying it was co-opted by the Koch’s in an attempt to influence politics. Then as I read on I get to mentions of naziism, conspiracy and then QAnon. Relationship of your post to libertarianism is tenuous and deliberate conflation.

          • No the entire construct is how libertarianism was advanced post WWII E.g. just a PR marketing front for Big Business. All the points of order are easily fact checked – names, dates, places, et al.

            Rather that deal with it and argue with anything resembling the above you engage in rhetorical posturing, best part of – is – you don’t seem to think other people can’t see for themselves, watching how you respond, how that reflects on both yourself and your how your ideological predisposition rolls …

            You have to actually disproved the all the events stated above, not that the surviving Koch openly admits his part in it all, remember they said the Powell memo did not go far enough and how to force the issue via deception.

          • The political landscape of the US was not seeded with ideas of libertarianism by the Koch brothers. It was seeded with libertarianism with the writing of the constitution. Any idea, movement, religion, etc. can be hijacked and used as an attempt to justify and further a nefarious agenda. Whilst everything said in your post may be true it doesn’t highlight the negatives of the libertarian ideals you were hoping for, it merely tries to conflate the idea with a plethora of nasty capitalist stories and negative catch words. Take the only reference to libertarianism out of the first sentence and the rest of the post has no relationship to it.

          • Be that as it may, Bob, fact is that libertarianism is now an ugly façade of the corporatocracy, and it’s mostly pushed by rank-and-file conservatives who are not even aware how they are being used. It’s one of the chief reasons I left the US.

          • I don’t think you have the slightest clue about the American Constitution or its historical context outside some PR Marketing terminology about freedoms and liberties, never the less understand the post WWII agenda advanced by a whose – who of the wealth/power set.

            1974 Charles Koch Speech: “Anti-Capitalism and Big Business” and How the Powell Memo Did Not Go Far Enough

            In this 1974 speech, Charles Koch claimed that “business has consciously assisted the government in destroying the free market.” This speech was given during the second term of Republican President Richard M. Nixon, a few months before he resigned in disgrace.

            This address was part of a meeting on “The Anti-Capitalist Mentality,” which was organized by the Institute for Humane Studies. IHS was founded in 1961 by F.A. “Baldy” Harper to advance Libertarian ideas more radically than the Foundation for Economic Education by, for example, calling all taxes “theft,” despite the Constitutional provision authorizing taxes. Charles began supporting IHS in 1964, and took over IHS in 1973 after Harper died. So, this speech was an address to followers of a group he controlled; IHS continues to play a substantial role in the Koch empire and his efforts to change the law and legal policy to suit his agenda.

            https://kochdocs.org/2019/06/07/charles-koch-anti-capitalism-big-business/

            When Congress Busted Milton Friedman (and Libertarianism Was Created By Big Business Lobbyists)

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

  10. I saw this last night. It’s a blow everything up sci fi film set in Australia. It was no worse than the last 30 years of Star Wars. The highlight was watching Sydney get blown up.
    https://youtu.be/ujwI6GrqpQk
    The most unrealistic thing was Australia having a large working squadron of fighter jets.

Leave a reply

You must be logged in to post a comment. Log in now