Macro Afternoon

See the latest Australian dollar analysis here:

Macro Afternoon

Kayaking in the Cook Islands, 2019: Photo by H. Becker

A record number of COVID cases in Germany is dampening spirits again going into the final session of the week with most Asian stock markets in retreat mode. Bitcoin is slowly deflating again, down below the $18000 level this time, while gold has been unable to get back on track after its recent falls, currently treading water at the $1840USD per ounce level:

The Shanghai Composite is falling sharply going into the close, currently down over 1% to 3338 points while in Hong Kong the Hang Seng Index has again gone the other way, up nearly 0.4% to 26522 points. Japanese stock markets are falling over with the Nikkei 225 down 0.4% to 26646 points while the USDJPY pair has failed to push back above trailing ATR resistance at the 104.40 level, heading right back to the start of week 104 handle level:

The ASX200 was the worst in the region, down 0.6% again to 6642 points and completely unable to make a move above the 6700 point level stick, not helped at all by a zooming Australian dollar which is pausing slightly here at the mid 75s after its big breakout previously:

Eurostoxx and S&P futures are deflating again with the four hourly chart of the S&P500 showing price hovering on the recent session lows at the 3660 point level as momentum heads deep into negative territory:

The economic calendar ends the week with the latest German inflation print and then the closely watched Michigan consumer confidence survey.

Latest posts by Chris Becker (see all)

Comments

  1. boomengineeringMEMBER

    Work party across road, printers had no down time. Imagine the ones making Covid signs, they are everywhere, even at Macksville, when I was there
    last week.

    • There’s always winners and loosers. The entire reason I have my current job is becuase the company was so busy over covid they had to double their warehouse staff. They seem to be a good bunch too as now that business has tapered off a bit instead of getting rid of the new staff they’re trying to expand into new markets/product lines to keep the workers on (and keep up those fat stacks of profit lol).

      Could probably score Mig a job, hear he might might need a new employer. Sweeping floors, mininmum wage lol

        • After the wetback VET school of manual Labour thingy E.g, you don’t sweep slow too be a slow prick … its because it sends dust everywhere and whats the point of that …. oh yeah … ignorant Mgr sees micro time loss on the MBA Taylorism side of the Excel balance sheet, but not the reality of the rework required to mitigate the time loss post facto to resolve the embedded failure of the first instance.

          But yeah ignorant malleable boot lickers and credentialed theorists straight out of ***demand*** [market thingy] smart people with no life experience are anointed by goat or something ….

          CHORTLE ….

          • A few holes in your beloved cough … Chigaco School … cough thinking in the time of COVID trickle down monetary printing eh Skip

            Chortle indeed …

          • Your a moron …

            Swaps are not printing and if you have dramas with distribution focus on what rolls abound in the heads of congress as they distribute public money per orthodox main stream economic ideology.

            Bad hair day for barter theory and says law methinks ,,,,

          • Name calling won’t elevate your outdated thinking … or open doors … this is 2020 not 1920 skip. No Weimarites here. Recommend you start with Frengle’s modern treatise and then a bit of Heideger to get in the game, but be warned, these are not to be skimmed lightly a bed time after a tottie or two and navigating the Ister not to be done lightly or did you think the those Ninety Five demands were the cries of babes?

            Hard work is what is required skip, just as it was at the Monolith, Timber Cove and Oneao. Free lunches at the Schönbrunn a thing of the past, or hadn’t you heard? Didn’t fall into the trap of thinking those were the originals? Ekaterinberg looked lovely down to the last 1000, and we all know how that ended. Or do you think of fiscal recondiscity in purely post-stoichometistric terms? An amateurish mistake, I am afraid to convey. Consider microeconomic apoptosis as your reference for inferential hysteresis and you can’t go wrong. You are to be excused for overlooking this, I have had no end of trouble pointing this out to post docs in the field. Funny to see even the ‘great minds’ strained between singularities. Reminds me of the demands of the great and the good to stretch another 50km beyond nightfall at Point Echo with the Oligoclonal bands collapsing in early diastole and the Swan-Ganz a galaxy away, or so it seemed. Always a secondary when the bond curve reaches the Irigali asymptope, or hadn’t you heard? Don’t let the J point sink or it’s a new paracynthectic lattice. Quantum is the new put and crypto the box canyon – a word to the wise, as they used to say. But even Haye’s first plan went askew in the Constantinople dusk, as you know.

            All good stuff, skip … best wishes getting up to speed, can see you have potential, it’s a long but satisfying odyssey.

          • Lmmaso at your contention of outdated things when one looks at the use by date of your champions … not that it has anything to do with economics or otherwise … Victorian Egyptian after dinner mummy’s for table talk comes to mind.

          • Just so your not confused hotdog … labeling someone as Chicago school when they are PKE is some wacky stuff … and if you can’t get that right what does it say for anything else you think or believe.

          • I posted in detail your main shortcomings skip and referenced appropriate works. Does what I posted sound like someone who is confused/not got a grip on reality?

          • Yes … anyone that pins the Chicago school brand on those that are anything but does indicates some cognitive dramas. PKE is hated by Chicago and other mainstream schools, the more fudie the more the hatred.

            What ever it is you thought you wrote above is just tortured prose without any means to evaluate and topped off with a proclamation.

          • What ever it is you thought you wrote above is just tortured prose without any means to evaluate and topped off with a proclamation.

            Pot … meet kettle

          • I’ve attributed for years on everything I’ve tabled, repetitively, so accusations about or attempting to suggest what you posted above as being indicative of my stance is weak.

            Here have fun … https://www.bloomberg.com/news/articles/2020-12-11/everything-we-ve-learned-about-modern-economic-theory-is-wrong

            You will note that the fundamental issue in question effects more than various neoclassical schools or synergies like neo-new Keynesian, behavioral, et al. This also dovetails with the link I supplied to Lars blog on ergodicity and the date of 1934. So you can keep spewing whatever and attempt to burnish it by inputting it into some machine and call it truth all you want, but, that does not change the T or F of the data input.

    • Spare a thought for the RBA printing press operators, they’ve had a hell a year creating all that money!

        • “”Mr Hendrischke said Australia was not in a trade war with China, unlike the USA, and needed to act calmly and diversify our markets without harming its current export chains.””…………………..not in a trade war. Oh, thats alright then. There was I thinking that we were. Need to act calmly – when we have the highest private debt in the world just about, any threat to our export income makes it difficult to act calmly.

          • “Need to act calmly – when we have the highest private debt in the world just about, any threat to our export income makes it difficult to act calmly.” – Another reason to shut up and keep doing business.
            Main point is we should not ever allowed to become so dependant on China. Both Lab and Lib are to be blamed. Moving forward we should have started to slowly moving away from China as per the article. When you are so exposed to don’t pick a fight. You act strategically and allow time to get into position of strength.
            Libs have been openly provoking China for few years now and they don’t really care that Australians have second highest private debt. Our polies probably have second highest public pensions in the world.

          • Jumping jack flash

            “Need to act calmly – when we have the highest private debt in the world just about, any threat to our export income makes it difficult to act calmly.”

            Pfft. Export income is so last century. We make our money using risk-free debt now.

            Besides, creating debt is super fast, super easy, makes you instantly rich, and has a much smaller carbon footprint than creating stuff. What’s not to like?

    • Buddy you missed the anglophone version …. now that its China being a good globalist free market player everyone is going spastic …. so is it just your own personal issue or the historical record …

    • I wanted but was decided to wait for someone with more experience than a virgin to recommend them.

    • still setting up my international trading account. I had joint one with my wife but accountant told me to use individual. Share price moving up and up.. Reading about the tech now and over the weekend.

  2. How many lobsters are people planning on getting for Xmas? When mum heard woolies would have cooked lobster for $20 each she said we’d get 2 (hopefully there will be four of us)

    • The problem is I have never figured out a way to make the cooked frozen lobster worth the money spent on it, even if it’s half priced. Fresh prawns taste better and is much cheaper as well.

      • BarratuesdaiMEMBER

        They can get the crays to China live, why not do the same for the east coast? I’m sure anyone who had the chance to try chilled vs frozen cray would happily pay another $5 for the difference.

          • Oh yeah, that’s not nice.

            Ethics make everything complicated.
            But they add compassion into decisions which is good. Maybe we’ll stick with Aussie wild caught prawns? At least we know the eggs for the pav come from happy chooks. I just spent 2.5 hours happily shepherding them around the property. They were super happy and content, as was I. There are way worse ways to spend a lazy Sat arvo.

          • I’m a bit late to the party here but I don’t think it has anything to do with animal cruelty regs. My local fish shop sells it all live, even WA Marron and I’m in Brisbane. It’s all about cost of shipping and ease of holding/handling. Cook it, feeze it, ship it, defrost when required – woolies could still be selling this stuff next Christmas if they choose to hold it frozen. They could easily sell it live all over Australia, or even dead but uncooked, but that doesn’t fit woolies business model and would probably eat into the profit margin with increased handling costs.

    • China is, and will continue to be, of great importance to Australia, the region and the world. It is a relationship that is both complex and consequential, and only getting more so. We need to work together to better understand the points of convergence in our relationship with China, and the points of divergence. It is incumbent upon us Head Prefects to explain Australia’s complex relationship with China; a well-informed discussion is needed to protect against suspicion and xenophobia. All of us will benefit from a sensible, calm and mature debate. Including @Harry.

      • Agree 100%. I argued many times that we took wrong approach by openly picking a fight. This is why I find David’s war cry silly, childish, ridiculous..
        Lot of people think just because we are white and most from Anglo background, we can lecture everyone else and those barbarians have no right to be upset, offended or get angry.
        Sadly, many don’t realise those days are gone. The actions of the current Gov were all to provoke China. This has been going on for years. But when we decided to play US’s useful idiot by calling for UN investigation, we pushed one too many buttons.

        Edit: And yeah.. especially Harry.. that cnvt is never serious. Fckn.

        • What action in particular did Australia “provoke” the CCP? Wanting an independent inquiry in COVID? Hardly finger pointing at China, unless the CCP is guilt-stricken. Calling them out for militarising the SCS? Australia should be proud to stand up for this, when other countries are too chicken shit to say anything. Banning Huawei for 5G? What’s the alternative? Bend over and let the CCP have access to spy on everyone here?

        • working class hamMEMBER

          When you cut through the hypocritical tit for tat social injustice BS and look at the core of Chinese reasoning behind the escalation. The common thread appears to be the trade deals blocked by the Aust Govt, for national security reasons. These very public accusations, have set a precedent, allowing others to follow suit more freely.
          Having the plan for world “acquisition” exposed, has spoiled timelines, prematurely forcing their hand.
          I really believe, Aust was never going to get out from under this unscathed and that decoupling from China is a lot more important to Aust long term prosperity than is realised ATM. Financial pain now, saves the long slow descent into Chinese oppression. Sometimes you can’t wait to be in the perfect position to act, Covid has provided an opportunity, which we may never have again.

          Whether the current Govt has a plan, or is achieving this by default, it is striking a chord with most of Aust.
          Should be interesting.

      • 3d?
        China started this fight. imo their importance is greatly overstated.
        The EU consumer is still more than 2 x the size of the Chinese consumer.
        Their economy is a mirage which shouldn’t be measured by production as Pettis said, because 2/3rd of the stuff they produce will never have value to the global consumer/produce a return.

        • lmmao how did they start the fight when historically it was the west that stole from it to get out of the dark ages …

          PS which considering the last few decades is hilarious as the west gave it away for some short term stock yield for the upper strata financial firms and their blue blood investors …

          PSS were right back to pre WWII antics …

          • The West?
            Greater East Asia Co-Prosperity Sphere.

            “PS which considering the last few decades is hilarious as the west gave it away for some short term stock yield for the upper strata financial firms and their blue blood investors”

            Remember creditors have all the agency.

          • Please sweeper china is only acting in national interests not unlike the West over the time line, so, insinuations about bad people is just PR for the mopes …

          • Correct a Keynesian who thinks China should be paying interest to the West on their reserves until they stop wrecking the global economy exactly as Keynes recommended.

          • NO Keynes wanted Bancor so everything after the bastardized tribute model post WWII is moot and no one forced western corps to stampede into a nation without the legal architecture to protect rights and in many cases sold IP for a quick bob.

            Keynes died trying to reconcile the dramas orthodoxy baked in, in ill health and you then use his name to push your own ideological barge – ?????

          • Bancor involved creditor countries paying interest (negative interest rates) on excess credits. Exactly as I’m saying China should.
            And he died trying to refinance war debt

          • Your mad mate … China has no war debt …. where the US is in eye ball territory with the ME and sucked in the UK for olds sake …

            FFS Hudson …

          • I didn’t say they had war debt. I said he died trying to refinance Britain’s war debt.
            And had Bancor got up, China would be paying interest on their excess credits right now.

          • Again your engaging in false equivalencies … China is not the U.K. and this is not post WWII.

            Worse you seem to be advocating the false loanable funds theory as a ends to a means because that would remove the core axioms of your world view.

      • BarratuesdaiMEMBER

        China is finished, it has 10-15 years to mark it’s mark on the world before it’s done.
        1. Ageing Demographics and no immigration (unless you count annexation of neighbours)
        2. Since when do humans beings suffer the control structure that excludes more and more from any power over their lives?
        3. Rural chinese are second class subjects in all regards, and discriminated against by both CCP and metro population.
        4. Chinese who have made substantial money do not want to remain or invest in China, if there was free flow of money= China’s broke.
        4a. Financially successful Chinese realise they will be the CCP’s scape goat when the rural masses demand to know why they are not “lifted out of poverty” 200billion people will not be better off as they watch the metro elites buy merc’s.

        • Problem is that (1) Quantity has its own quality … China fought the USA that won WW2 to a standstill in Korea through sheer numbers of infantry, (2) centralised control means that they can do an awful lot in those 15 years, Hitler was leader of Germany for only 12 and managed to impact a lot of people in that time, (3) if China does start fighting a war then it’s hard to see us not catching some explosives and action just based on Geography. So I am not as sanguine as yourself.

  3. so, we don’t have a say at the environment summit. I expect EU to impose sanctions on Australian products soon.

    • Everyone has dirty deeds. Remember Iraq? Why did we go there and caused over 500k civilian deaths? But yeah, China has to pretend Iraq did not happen while we can lecture China on human rights.

    • The concept of ‘morality’ is pure propaganda. How many civilians died in Saudi’s war in Yemen? Yet Australia happily trade with them without any issues. The harsh reality is there is no room for morality in geopolitics.

  4. USDCNH – As of May 2020 you can see huge falling drop. Seems like a pretty significant drop that. Currency Wars between US and China are alive and well.
    https://gyazo.com/ef7e790f333445d41b37e9fc66a8de06?token=f6b6eae355b5892d7a5810e45a0daa30

    Around the same time the USDCNH went into a sudden drop ( May 2020 ), you’ve got Bitcoins starting to rise.
    Chinese Laundering money into the US through Bitcoins? lol
    https://gyazo.com/75453eea0294609b4a55cc85e036f0b6?token=06ac6b8a979d42c976ffe178580f750a

    Then US Congress gets mad and threatens to ‘Regulate Bitcoins’
    https://www.macrobusiness.com.au/2020/12/is-the-us-congress-about-to-kill-bitcoin/

    and now Bitcoin traders are getting all shaky.
    https://gyazo.com/880e9da5808e6a5bd91c570756837993?token=23c2a2be952696a4e9bc2abca202bd45

    Not to mention while US has been protecting its currency, Chinas been tossing Sanctions all over Australia in its retaliation. Im really not surprised.

    Who needs Netflix when you’ve got Currency Markets? Nothing like a bit of daily drama to keep the blood warm. I must be the only person in Australia who can look at these charts and find all this funny.

    So what happens when Trump leaves office and Biden returns? Does all this get undone? Such confusing times we live in ha ha. Happy to watch this stuff but dont think I’ll be putting my money near it anytime soon.

  5. Here it comes. No hotel quarantine either.

    ‘The proposal – put forward by high schools, international education advocates and accommodation providers – aims to bring back 23,000 students as early as January in a bid to revitalise Victoria’s education sector.

    International Education Association of Australia chief executive Phil Honeywood said quarantining international students in hotels would not be an appropriate option.’

    https://www.heraldsun.com.au/travel/travel-news/victoria-government-considering-plan-from-education-sector-to-fly-in-23000-international-students/news-story/81e401c2a2243fdc9d90b34d182b522f

    • We have a Federal Election coming next year. I cant see Labor winning. Im thinking Liberals are going to win the next Australian Federal Election and in over the next 4-5 years we are about to see a major ramp up in Authoritarianism.

      Im just waiting for the police to start targeting Australias Minorities and Young, bashing down peoples doors and to start throwing everyone into prison. The boundaries keep getting pushed, little by little each day and in the past month or so I keep reading the reams of News Hatred where Young People are being arrested for ‘words’. I certainly dont condone Terrorism but we are pushing a very fine line here. Fairfax’s hatred for todays young is now turning into the Criminalisation of todays young. Its getting to the point that if you dont own a house and arent making someone else rich in this country, then Australia has an obligation to arrest you.

      Based on what I’ve seen in Australia, rather then oppose this kind of behaviour, the vast majority of Property Owning Australians seem to be embracing it. Im gob smacked at just how much support all this stuff seems to have in this Country.

      Macrobusiness seems to be the last place left as virtually everywhere I see, Australian voices are being silenced. You need to be organised because it gets pretty vicious out there. You try standing up to this stuff and watch just how aggressive the retaliation is against you. I dont think I’ve ever seen anything like it before. All you can do is bide your time, hope it goes too far and something turns the tide.

      I think Queensland is the last stronghold left. When Queensland Australians are erased from history, there’ll be no turning back from this. NT, SA and WA will be history.

      Australians wont be welcome in there own Country very soon. Its happening already. I dont think its far away.

      We seem to be diluting Australias power quietly through all this mass migration. Its silencing peoples voice democratically which is turning anyone who speaks out into a terrorist. This ensures the Government has every legal right to arrest you so those who speak out are now dissidents in there own Country.

      The very moment you say the things I’ve just said, you get accused of being a ‘Right Wing Terrorist’ and your either being shut down or arrested. I dont consider myself a Terrorist. I just consider myself an Australian Citizen and I dont consider Australia a safe country anymore. Speaking gets you arrested in Australia. You have Freedom of Speech in Australia as long as you say the things people want to hear, otherwise you end up on the receiving end very quickly. It takes guts to speak and those who do usually dont last long. Im not a huge believer in all this conspiracy and political stuff but I’ve seen this with my own eyes. Australians are definitely being oppressed.

      I wonder how long it’ll be before MB gets shut down. Australians are supposed to speak up about these things. Im not so sure its safe to do that anymore.

      • Jumping jack flash

        Yes the whole right wing “extremist” thing is a bit scary because it cant really be defined. its definitely a bit thought-police-y.

        “if you dont own a house and arent making someone else rich in this country, then Australia has an obligation to arrest you.”

        “Hey you aren’t one of those anti-debt nutjob heretics are you? Ok, its time for an ‘attitude adjustment’, step this way. After this you’ll be begging for debt.”

        Not right wing though, because they say it isn’t.

    • This is so fvcken wrong on so many levels. Australians struggling to get home and they’re talking about mass student immigration. Can’t wait for the riots to erupt when Victoria has to go into near permanent lockdown due to imported and uncontrolled CoVid out break.

    • They’ll try and destroy Queensland next. There are Aussies in Queensland so Queensland has to go.
      When Queensland goes, there’ll be no recourse. NT, SA and WA will fall next.
      If it doesnt stop at Queensland, then the rest of Australia will fall like domino’s. Im just waiting for it.

      • boomengineeringMEMBER

        The missus was talking to old ducks on the ferry yesterday and they felt very sorry for young people losing all their freedoms. They went thu WW but still had freedom

    • happy valleyMEMBER

      Honeywood should be made to meet, greet and embrace, without mask, every arriving student?

      • Arthur Schopenhauer

        I looked into converting a Honda Jazz, with its under floor petrol tank. Not strong enough to hold the batteries.

        The 1970/80s Land Rover Rover/Defender turns out to be the perfect frame for conversion.

        Batteries are heavy!

        • Just as long as the dust sealing on those Defenders gets improved. Take it off road and you need masks for all the dust.

    • ErmingtonPlumbingMEMBER

      Oh Jesus!,….don’t get him started going on about his Rice burning sh!tboxes of his again!

  6. Just when you thought things couldn’t get any more strange in 2020, get ready for Khawaja and Marsh to open in Adelaide.

    • ErmingtonPlumbingMEMBER

      disgraceful,

      “According to The Guardian, when Fairfax Media began carrying the liftout in 2016, the company justified the move by saying it was commercial printing arrangement for revenue and noted other newspapers around the world also carried it, including The Washington Post and Le Figaro.

      The liftout included the disclaimer that “this supplement, prepared by China Daily, People’s Republic of China, did not involve the news or editorial departments of The Sydney Morning Herald”

      “commercial printing arrangement for revenue”

      “like our politicians these media pr!cks all sell themselves to the highest bidder.

  7. The bit about Oz wineries having a significant Chinese ownership/investment profile sure messes with the grandstanding by scomo.

    Which at the end of the day seems quite wobbly considering all the stuff that was sold on in the 80s to international investors, albeit with Oz front house [men], which in turn has had several periods of consolidation and new ownership cycles.

    Yet all the sudden this is a issue considering the whole “open market” aspect being their baby at onset and now wish to intercede in whom is the right sorts. The whole hordes from the north aspect is a bit sus considering the LNPs pogrom for decades, but nothing like a good distraction from its results over the years I guess.

    Deploy the LNP Sovereignty Patriots [we can loot our own just fine thank you] …. burn the ALP traitors [china boot lickers] – !!!!!! …. mirth ….

    • ErmingtonPlumbingMEMBER

      I Didn’t pick you as a Nevil Chamberland “Skippy”

      You should probably Change that patriotic name of yours so someone more worthy can use it.

      • Is that the best your mind can muster is some AET style inference without substantiation … look kid its like this … economics is not based on race …. albeit some mopes thought they would always be the better sort and their kids would always administrate it …. in perpetuity … silly buggers ….

    • SnappedUpSavvyMEMBER

      Chinese own 41 crap wineries out of many hundreds, they prefer the crap ones as it tastes better with US made coke don’t it
      Not exactly significant

          • So you have some ill informed perspective and then expect some notion of respect …. buddy I can get all the Pat Robertson elsewhere ….

            All I can see is sellers remorse when the categorical error of race is used to diminish property rights of the buyer …

          • SnappedUpSavvyMEMBER

            you are off with the fairies skippy, you prefer the ccp but would never live in chyna, you are from the US and you live in Australia, you live in Australia and hate Australians, you are nothing but a troll

          • I’m anti neoliberalism kid, that means I care not about some mangled sense of identity but a much more profound economic relativity… so yes I would pick any nation that puts a spanner in neoliberalism.

          • Hand wave

            Look kid I could hit you with every conceivable notion of human knowable which refutes your biases and you would still attempt to mangle the concerted efforts by some humans to free [tm] us all from ignorance …. Trump bros is a good example IMO ..

          • You should set yourself up as a moral agent too A. Then abuse and bully at will. Now what yank movie did I see that in … oh that’s right most of them. Snork.le

    • Jumping jack flash

      Agree, re the wineries. Many of the abattoirs they’re refusing beef from are also Chinese, or part therof. One in particular im thinking of hasn’t skipped a beat re kill volumes since the ban.

  8. Saw on the news Qld uni has established more evidence of a link between autism and vit d deficiency and why men are 3 times more likely to be at risk. This has been annecdotely speculated online along with treating autism with vitd suppliments for many years. It is good to finally have a study that supports it

  9. Has anyone else seen the half page newspaper advertisement from dick Smith in today’s paper against resuming mass immigration asking employers to train locals for the job instead. I don’t have a way to post a link. Anyone have an online link to the advert?

  10. The RBA has a retiree problem

    https://www.afr.com/policy/economy/the-letters-showing-rba-has-a-retiree-problem-20201211-p56mqg

    Angry, nervous letters from retirees to the Reserve Bank governor Philip Lowe are rolling in following the record low 0.10 per cent interest rate and beginning of quantitative easing.

    A cache of extracts from letters received by the governor both in online and physical form have been obtained by AFR Weekend – and they show the deep concerns older Australians have.

    “I am now struggling to get 0.7 per cent, we can’t live off that,” one tells the governor.

    “Continual reductions are killing us older, vulnerable retirees who rely on this interest to live,” another says.

  11. The Beetrooter Advocate

    A fitting last post, for MB. Two-fold: they were right again, and for the last time, about anything, most likely.

    Just dropped in on NullBush (cough).
    For the first time since the day MB decided to go Subscriber (Member) model and lock articles. MB was a laughing stock on that site for doing that way back then. They did not hold back. You can imagine the details.

    What did I find today? NullBush have just gone Subscriber model on their new premium site.

    First they laugh at you, then they ignore you. Then you win.

    Other than the timing, the hilarious thing is, not one of the very irate commenters can figure out how Z.H. came to a price point of 360 (plus tax) for their annual member sub. I don’t think we have to look too far to figure out where that figure was plucked from. Most commenters seemed to think $20-$50 would be fair value. A year.

    So well done MB.
    And vale Z.H..

    I’ve visited that site exactly twice. On my next visit I expect it to declare the housing affordability crisis here to stay forever, negative rates to be a net benefit to savers and the new portfolio investment platform to be launching ‘soon’.
    I reckon that visit will be in about 18-months.

  12. This probably won’t get seen by anyone but I’m just losing my mind over the LNP delivering 14 (fkn 14!!!!!!) “please explains” to the ABC/Ita over 4 corners sticking it to Porter. LNP has a sad over CCP 14 list then steals the idea off em and hits ABC with it. All you overnight patriots here can go an get stuffed. So busy letting the LNP sleight of hand you with some fake nationalism and meanwhile 4 corners is about to get the editorial shafting of a lifetime from Ita. Don’t expect another good expose until LNP/Ita is gone.

    • boomengineeringMEMBER

      You would be surprised how many people see late posts.
      Many years ago I stumbled upon a late night parliamentary meeting and realized it was alluding to bail ins. Because at that time I used to wait for MB to send email posts meant I was usually the last to post which I did thinking no one saw it but later a guy from North Africa said he saw it. He now gets the credit but that sits fine with me.