Macro Afternoon

See the latest Australian dollar analysis here:

Will Bitcoin destroy the US dollar?

Another sea of red for Asian stocks going into the end of the trading week but at least its not a bath of blood like that found on Wall Street at the moment, with minor retracements and some buying support evident. Bitcoin however can’t find any more buyers to shore up the recent rout, with another move lower today taking it towards the $47K level, not far off the recent crash lows:

The Shanghai Composite is down by 0.3% after being off by nearly 1% earlier in the session, currently at 3509 points while the Hang Seng Index is doing about the same, off by 0.3% to 29155 points. Japanese markets are falling more sharply however with the Nikkei 225 about to close 0.8% lower at 28701 points, about to breakthrough its three month long uptrend while the usually supportive USDJPY pair continues to climb well above the 109 handle:

The ASX200 is keeping pace with the selloff, losing 0.8% again to be at 6702 points just before the close while the Australian dollar is about to make a new weekly low going into tonight’s all-important NFP print, currently just hovering about the 77 handle and looking weak indeed:

Eurostoxx and S&P futures are whipsawing going into the European opening session, with the more illustrative daily chart of the S&P500 showing last night’s break of the trend channel that is on a downward track. The continued inability to breach the upper downtrend line from the early February lows is weighing, with the 3900 point barrier proving powerful resistance with the target below if confidence breaks further at 3700 points:

The economic calendar finishes the week with the big one – US unemployment or non-farm payrolls (NFP), which will set the course for volatility and risk taking for the rest of the month.

Have a good weekend and stay safe!

Latest posts by Chris Becker (see all)

Comments

  1. migtronixMEMBER

    Resolute delusion rises
    Like crests over shimmering
    Confusion
    Imbued in witnessing the
    Observation
    Some are spellbound and
    Lost to the inundation

    • migtronixMEMBER

      When you’re shattered
      Against coral or shore
      Struggling with direction and
      Breath
      Don’t sink into yourself
      Seek a bubble of your own
      Finess and follow it
      When you break through to
      A gasp you’d lost in hope
      Persevering to near, exhaustion
      You’ll make it, again, how many times
      More

  2. SweeperMEMBER

    What’s with all the anti LNP commentary now? Like what’s the point?
    Everyone knows that come election campaign time journalism will kick into into gear again, delete the past 3 years from people’s memories and some how tell everyone Morrison should be re-elected because only the Liberals can be trusted and Labor will implode the economy/ handover parliament to the CCP/ tax pensioners/ switch off the electricity And everything bad which happened over the past 3 years was due to Labor and everyone will fall for it yet again and the clown show will roll on.

    • It’s funny because my aunt says she hates the Liberals but doesn’t trust Labor to be able to run the country. I shrug my shoulders. She’s bought the NewsCorp media spin, hook line and sinker.

      • migtronixMEMBER

        Make a bet with her, if Labour wins and she’s not worse off, she coughs up her house….

    • RobotSenseiMEMBER

      The point is that you can finally see/feel the LNP on the nose. And everyone can see it. They have the finger on the trigger. Just gotta talk them into squeezing.

    • Or maybe folks remember that this is the party of Fisher,Curtin and Chiefly….Albo and co don’t measure up, not even close.

    • Arthur Schopenhauer

      I don’t know Sweeper, the misogyny and mistreatment is against their own women. Quite a few are going to vote Green or get independents up. There are a lot of Sally Anne Atkinson types who are fed up.

      With only 33% primary vote, they don’t need to lose many votes to lose seats in Victoria. Frydenburg is going to be in trouble.

      And that Ulhman bloke called everyone one on twitter sewer rats, and then an ex-wife pitched in calling him a hitter and misogynist. They’ve lost it, and they are about to tear themselves apart.

      • The Traveling Wilbur

        And who do you reckon will have/form majority government after the next election? Won’t be Labor.

      • ErmingtonPlumbingMEMBER

        Thing is most alternative parties (other than the greens) are “Centre right” and throw their preferences at the LNP.
        Even so this time they have really alienated a lot of their own and swing voting Sheila’s.
        Along with many normally Lib voting and swinging “Good men” maybe the ALP will cross the line next time.
        They still have that corporate Plutocracy to overcome though.

        • Arthur Schopenhauer

          No they won’t. We got two middle aged ‘conservative’ Greens into Council in the bluest of blue wards. I’m not a Green member, but I helped out because they were decent community minded people, unlike the Liberal candidates.

          • Arthur Schopenhauer

            Scrub that “no they won’t”.

            Albo might continue to fall upwards Ermo. None of Fitzgibbon, Charmers, Marles or Bowen seem to be what the country needs. They really look like neo-Libs wedded to the teat of corporate donors.

            There’s really not much support for manufacturing, outside Bill Shorten. and he’s tainted.

            So few non-Lawyer politicians, in Labor and LNP ranks.

          • The Traveling Wilbur

            4 mins… hmmm…

            So this is what happens at your house when you leave your phone in the lounge and unlocked when you go to the loo is it? 😁

      • SweeperMEMBER

        I remember Ulhman started election night coverage last election as follows:

        “At the end of tonight Labor will have won the election, the only question is by how much”

        It was in a deeply sophisticated and authoritative tone and no doubt he believed it, maybe. But seriously.. I mean these people are *paid* to be wrong (kind of like bitcoin miners…)

        I would be surprised if Frydenberg loses his seat as he is the next anointed PM by LNP high command and Kooyong loves to elect the PM.

          • Cynical snake

            It worked pretty well while there was room to lower rates. the steady decline has caused problems as we move through zero though..

          • IR targeting is just setting the price of money where the market sets the quantity, albeit its just a abdication of politics in distribution vectors.

  3. haroldusMEMBER

    So I drove daughter up past Katoomba and back today.

    Among the questions inspired by the traffic were:

    1) Dad, I know what the F word is, but what is [email protected]?
    2) Dad, what does d!ckhead mean?

    Anyway, the answer is she can get a frozen coke next week for not telling.

    • You must have been doing a wonderful job as a parent if your princess dared to ask you questions like these. You’re the most important figure in her life at the moment I guess. Congrats.

      • haroldusMEMBER

        I can’t tell if you are taking the p!ss but it does turn out to be a few hours of no-stress time together where she can just talk about things in her life and the music and games she likes etc.

        Instead of me just asking 20 questions after school pickup.

        • Someone ElseMEMBER

          I hear you.

          I love the 30 min each way each day school run with my 10 yo. The mornings especially. A travel cup of coffee for me, a travel cup of warm milk for him. We take turns choosing music, he goes into incredible detail about games he’s watched other people play online. Nice chilled, un-forced time. I will miss it some day.

        • There’s so much mocking in the cyber space that even a genuine positive appraisal is viewed with a suspicion. I wrote what I meant. Not a hint of sarcasm.

    • Arthur Schopenhauer

      I once cursed at a driver that erratically crossed three lanes and missed my car by 10mm, with a three year old in the back.
      For the next fortnight, she loudly and joyously squarked, “Oh you fking D!ckhead!” on entering and leaving the car… 😂🤣😅 (Not my proudest parenting moment.)

      • haroldusMEMBER

        The d!ckhead one was on Parramatta Road at Sloane street going out of the city at 730am.
        The traffic was backed up so we were all leaving space for the lights.
        I was in RH lane and the traffic started moving, FW in a Range Rover shot off the mark from the middle lane into my spot in the RH lane.
        Unbelievably rude.

        • The Traveling Wilbur

          Can’t wait until she asks Mummy one day who this Ranjit guy is that Daddy keeps yelling at when he’s in the car.

          • I hear ya. One too many ‘knee how Muthafarka’ in our family car. And the youngest now screams this at most in opportune times..

        • I just picked up my new (2nd hand car) today. I allowed myself to get talked into a fancy dash cam as am upgrade. It records audio. I’m not sure anyone else should ever get access to that footage

          • Ok so FMD used cars are EXPENSIVE right now!!! I had to double my budget. I thought, way back in 2019 i might splash out 5k on a decent small used car. Haha how wrong was I? Lots. So I’m exhausted from the buying a house project and running on empty from work (serious shortage of lifeguards in metro Melbourne atm and I’m responsible for opening the pool 4 days a week and if I get sick no one will be covering my shift which means the pool doesn’t open so no time off for me). So I wanted to buy a reliable fuel efficient car with decent air con (currently driving a 21 year old falcon which i love but the air con leaves a lot to be desired even in a la nina year) and cruise control because I’ll be doing lots of long distance country driving and I did not want a lot of hassle or to put much effort into finding it. Looked online at the car dealers locally. Got turned off by the pr1ck at the Mazda dealership where the olds bought their Mazda 3. Bought a 2011 Mazda 2 Neo from the ford dealership for 8k (dash cam upgrade was $900, yes I know that was over the top but I consider it the convenience tax and at this stage I’m beyond caring about making sure I get a good deal on absolutely everything, I’m exhausted). New suspension, tires, headlights and a few other things. Car is in amazing condition. 155k km. And I’m back driving a MANUAL which is so much fun. Haven’t driven a manual in 21 years (didn’t drive for 17 years while os) and dad was the one who stalled during the test drive, not me. Currently devastated the car isn’t as sparkling as it was when i collected it after driving 500m on our dirt roads. I don’t remember driving a car that clean, ever. I now understand the attraction of getting a car detailed.

          • Since Covid 2nd hand cars have shot up in price, especially anything with towing capacity. I could sell my 06 Toyota D-4 3L diesel with 325kl for more than I bought it for 4 years ago. Lots of questions about spare parts due to JIT post Covid supply chain/Mfg issues [see Boomings boom times].

            On the other hand the youngest son will be arriving at his formal in his uncles GLC 63 S 4MATIC+ bi turbo, one of only two in the country in a certain colour, and he drives it like he stole it …. hahahaha~~~~

    • ha ha
      Text exchange one day:
      “J just said ‘sh!t’. Apparently that’s what you say when you drop something. Know anything about that?”
      “fk no”

  4. MathiasMEMBER

    Wow… so much Green… spot the Countrys printing money right now lol.
    https://gyazo.com/1f609641a64242747f425ee52da68e53

    Eye Spy with my Little Eye a Mexico, a Canada, a New Zealand, a Switzerland and Australia lol.

    Hows about Brazill eh? Looks like its economy aint doing so well.

    Uh oh… DXY’s on a march…
    https://gyazo.com/b58b5b21275c5026e8cc9a57e3e3b652?token=38bfe7c80cd3b1b9287bc1333f19c73f

    With US Bonds on the rise from all that money printing going on, then what does money even mean to us anymore?
    https://gyazo.com/73bcd88d603035b51dc5b733c8d0b702

    XAUUSD ( Gold ) and XAGUSD ( Silver ). Uh oh.

    Looks like dumping your cash into USD is the place to be lol. What a sh*t world we live in.

    So a few years back when things where good in Australia, we had a yearly budget. So upon my understanding, Australias Yearly Budget ( taxes we’d pay ) would roughly come in at around $600 billion per year. For a little Country like Australia, thats pretty good.

    So now in the 2020 Financial Year, I admit, I’ve truly lost count of all this money printing. Wasnt there $150 bill around June, then $200 bill in December, and now $300 bill from the RBA. Doesnt that nearly add up to $600 bill ( whats a little $50 bill rounding error amongst mates ).

    So, if Im understanding this right, then 2020 Financial Year is basically the year where Australia Prints its own Budget, just to stay alive. I cant wait for next year.

    Maybe the Australian Government can subsidise Vans for everyone to live in next year?

    Australia is fast becoming Venezuela lol.

    Keep your hair clippings. They might be worth money someday lol.
    https://www.youtube.com/watch?v=q8S0A8iu51o

    • “Australians Yearly Budget ( taxes we’d pay )” ….

      Hay monetary noob …. how do you tax something before its issued as a tax credit in the first place … yes the government creates fiat ex nilhilo to provision itself and starts everything else off … rub is distrabution due to ideological or political ramifications and not the token in of itself …

  5. Is anyone else finding their local shops a little quieter again?

    Car parks not quite as full. Cafes not quite as busy. Not quite as many people perusing. At least around my area.

    • Mining BoganMEMBER

      Eight lanes open at the pool today and only six being used. Does that count?

      Roads were already chocka though.

    • The Travelling Albatross

      you are right my nearby woolllies was quite for a Friday arvo before a long weekend here in victoria

    • The Traveling Wilbur

      The only shop I physically go to these days is eight suburbs away. It’s the Adult Store there – not sure which suburb it’s actually in.

      The chick behind the counter clearly hasn’t had her regular meth hit for a while. Does that help?

    • I found my place of work more quiet this week. SME manufacturer in Sydney made 25% of its workforce redundant. But MB says you should stop worrying about debt and ask for a pay rise.

    • There was surprisingly little traffic around our region today. Strangely so before a long weekend. We did go out for dinner tonight and the Korean place was doing well. Our basic set meal involved incredibly generous amounts of decent quality meat. So much so that we didn’t end up ordering the desert we’d initially planned on having

  6. The Traveling Wilbur

    I will choose who picks the berries on my farm and the manner in which they pick ’em.

    FMD.

    (And some turkeys on here were saying wage theft was over as there were no migrants left to steal from. Well… surprise….)

    The double-standards and hypocracy (and idiocy) on this one is astounding. Even for Australia.

    • I don’t answer the questions, mate.
      And I don’t man the rape kits. mate.
      Also, it’s the states …. and labor … possibly the public …. maybe the sheilas … something to do with the rule of law .. have I mentioned Jen and the girls …. look, I support the sharks …. do you know I speak in tongues.

    • Wow. I LOLd when he immediately threw it back on the states. Then he babbled on without addressing the question. There is a man who is completely out if his depth as a politician, as a leader, and as a human being.

      • The Traveling Wilbur

        It’s that last part that’s slowly been dawning on me ever since the whole – I’m so pleased my wife managed to explain to me how I should feel about needing to support someone coming forward as a rape victim – thing. Well done you for knocking that one for six much earlier. Like many here who already knew him to be empathy intolerant, I’d written it off to start with as just another Scummo moment. But it was way more telling than that given his subsequent ad lib comments.

        Won’t affect the public response though.
        Not at the ballot box.

        What I love most about all this though is that someone in his comms team/s is actively endorsing and encouraging his behaviour. I hope Labor has already started paying them their salary for their ‘post-government’ role. They deserve it.

        • Mining BoganMEMBER

          You know, there’s a fair chance his team comes up with workable strategy that everyone else abides by but because he’s the smartest man in any room he’s ever been in…in all of history…he decides to go off reservation and just say sh!t that sounds exceedingly clever in his mind. It seems to be a pattern that after a couple of wins and he’s gotten cocky he will have a crack at free styling.

          Then we end up with “Jen and the kids…”.

          • People who bullshit all the time are always on borrowed time…….sooner or later they say something they shouldn’t without thinking in a place and time they can’t deny.

          • The Traveling Wilbur

            If that’s how we got “I’m the Prime Minister” and “Sorry, I don’t hold a hose, mate” then that’s the dufus we had to have. Gold like that almost always has a heavy price.

    • How to answer a question without answering it. He looks deflated though. Like I don’t do the raping mate, unless of course you’re a young Australian without a job.

      • FMD Gav you missed your calling as labor’s election comma director

        Placard that everywhere

        It’s fairly fking confronting

        • Cynical snake

          Only proble is a reasonable chunk of the population is all for raping the unemployed. It’s always a vote winner

        • Yet he is AG …. back in the day and all, stuff happened, but not at the office, risk management and propriety between public and private spheres demanded it or suffer the consequences in the public eye regardless of party socio economic leadership qualities.

          All Rudd did was to funnel moneys into pink batts through private cowboys and was deemed a totalitarian …. funny old world …

        • The Travelling Albatross

          Ha! First time you agree with skip
          (not to mention understanding him lol)

          • Your lack of understanding is just a sign of your own ignorance … don’t conflate the two …

          • The Travelling Albatross

            I acknowledge my ignorance in many things and issues my good sir, and striving for more knowledge and wisdom

          • Your car collection and house should hex the ev’bal deflation away …. you earned it back in the day …

          • migtronixMEMBER

            What is it with you people? You think it’s funny to snigger at victims? Or you don’t think there aren’t victims just casualties?

            Motherfvcker if ever caught you I’d stomp you asking why are you such a little b!tch

  7. The Travelling Albatross

    Its read heads international day, Who’s the best looking red head in the world??
    My vote for that girl in game of thrones, unless Harry is red head

  8. SweeperMEMBER

    Dear MMTers:
    Why are bond yields increasing as their is a steep draw down in the Treasury general account.
    While mid last year they fell dramatically as Treasury stockpiled money in their general account?
    Doesn’t Kelton’s textbook says the reverse should happen. thoughts?

    • The Travelling Albatross

      Lots of thoughts about that, not sure which to share or where to start

      • SweeperMEMBER

        what do you mean.
        I merely ask an honest question after pondering why present day planet earth doesn’t tie back to the teachings from the magnum opus of MMT?

        • Please you backed Krugman …

          PS… political … dramas with that after your past opinions ????

          • SweeperMEMBER

            but why can’t you shed some light on this apparent anomaly and answer the question?

          • What like notions that are prevalent regardless of the facts is confusing in the market considering all that happened pre and post GFC because of new dynamics like libertarian day traders and the whole China factor.

            But Marginalism ….

          • Seriously … not interested in debating the conditions of neoliberalism in some absurd context when you rubbish Keating on one hand and then barrack for the same economic platitudes that he promoted when it suits your narrative …

          • @Hot Dog …

            The Chicago School is jut the tip of the iceberg of wonky corporatist machinations pre and post WWII …. Marginalism is its cornerstone and any wobbling on about post facto is sophist PR ….

          • The Traveling Wilbur

            Fixed!:

            Asking Skip to elaborate is like looking at an 8 ball to tell you your fortune.

          • Elaborate on what ???? short term fluctuation in price post Greenspan or his ilk …. really ….

          • Skip,
            As an avid believer in MMT I merely read the opus and watched the Treasury general account closely and shorted bonds when they stockpiled and bought when they started to draw down and have found that the RoI on the book is less than desirable. I was merely asking why this is so, so I don’t make the same mistake again.

          • Cynical snake

            Not an expert but does your wonderful textbook take into account Central banks buying directly?
            The Fed is what is driving things these days.

          • MMT at its core is just a description of state fiat functions in a developed mature economy, that said, its administration determines outcomes E.g. currently administered by quasi monetarists.

            The whole point is to remove the past framework for political debate in available policy choices from the funding side aspect. What clouds the issue is how the past informs the present from an ideological perspective, huge amounts of money flowing around the globe with agendas of its own, and now Covid.

            Sadly some rice bowls are sacrosanct due to political forces and the only country that seems to take matters into its own hands is China – sans whatever ideological baggage some burdened with.

            So Sweeper you’ll have to forgive me when I don’t get myopic about short term market events after decades of traders being groomed, especially noted is ignorant day traders and the machinations of PE firms, and how that has transformed markets. I focus more on the core issues like I have posted on over the years – see Lars Syll for a more granular perspective.

  9. Today is the greatest
    Interest rate I ever had
    Can’t wait for tomorrow’s
    I’ll borrow from mum and dad
    I’ll hock my eyeballs
    To get that houuuuuuse

    I wanted it more
    (Guitar )….

      • Jesus Christ you’re a Debbie downer who likes vomiting word salad and then you claim people don’t understand you after you go full retard and just spazz random sh5t on a screen farrrrkkk

        Just write in Plain Fking English

        • The Traveling Wilbur

          I see you’ve finally found the url for the template for that comment that almost everyone else has used at least a couple of times. Are you sure it was the latest version – it looked like there might have been one or two now Cancelled words in it? 😉

      • Yer that’s why your poor and iam rich you soft cok all brains in the world no killer extinct fail bitch

          • You are genetically infirior to me that makes you poor in more than 1 way hombre u get it

          • 25 years in Back water tells me your. Are low level competition bottom feeder like I said u can have all the brains in the world but the shark will allways come first be cause it reacts it dose not think of human suffering

          • What back water

            Was on the QEII going to Europe as a kid in the late 60s, family comes from one of the prestigious enclaves in Chicago ….

            Sharks will eat their own guts when presented … lmmao …

          • Close to the Brisbane river and Centenary bridge, ex wife’s parents rollover between having kids to their advanced age. But been mulling over the next move, SLRV on a property to develop up coast or intercity rings queensland cottage restoration/modernization.

    • migtronixMEMBER

      I hopped on the train
      At TLSA SPACEX
      With a hardon for Elons musk
      Welcome to the landed gentry
      Of millenials and x
      So I put my calls on
      To hurt the shorts
      nodding my heading my like yeah

    • The Traveling Wilbur

      I lost interest
      It was a capital idea
      And to your good intentions I yield
      They are a real treasury
      But at this rate
      At this return, this is not the little piggy to take to market.

  10. MathiasMEMBER

    I love how divided Australia is at the moment.

    The Boomers are there own Tribe. The Woman are there own Tribe. Men are there own Tribe. Then you’ve got Entitled Migrants who are there own Tribe.

    Then you’ve got the Master of Disaster, Mr Scott Morrison, the Leader of all this Chaos.

    What a wonderful time it is to be an Australian.

  11. migtronixMEMBER

    I’m not here for your entertainment
    You don’t really wanna mess with me tonight
    I was fine before you walked into my life

    Seriously, how long has it been???

  12. Stock futures rally as strong jobs report overshadows surging bond yields … FoxBusiness

    https://www.foxbusiness.com/markets/stock-market-job-report-bond-yields

    10-year yield spikes to 1.63%, its highest level in a year

    10-year Treasury yield jumps to year-high 1.62% after strong jobs report … CNBC

    https://www.cnbc.com/2021/03/05/us-bonds-treasury-yields-dip-ahead-of-february-jobs-report.html

    Huge Payrolls Beat: US Adds 379K Jobs In February… But There’s A Catch … Zerohedge

    https://www.zerohedge.com/markets/huge-payrolls-beat-us-adds-379k-jobs-february

    Rabo: Powell Had The Opportunity To Put To Rest Concerns He Is Losing Control Of The Curve: He Didn’t … Zerohedge

    https://www.zerohedge.com/markets/rabo-powell-had-opportunity-put-rest-concerns-he-losing-control-curve-he-didnt

    • drsmithyMEMBER

      The only thing anyone needs to know about that article (other than it’s written by Joe Hildebrand, which should be enough for anyone who isn’t a masochist), is that it contains the words “thank god she’s dead”.

      • The Traveling Wilbur

        I would rather open my wrists than open a link to nine ‘news’, so thank you for the synopsis.

        As to the quote, given the continuing history and frequency of related events perhaps the LNP are planning on making that into a new gameshow to be put up against Holey Moley. On nine of course.

        Edit: Allegedly.

  13. Potentially big news:

    https://oilprice.com/Geopolitics/Middle-East/China-Makes-Move-On-Riyadh-As-Washington-Considers-Sanctions.html

    At first glance, this doesn’t look like much.

    A naughty vassal being punished. Meh.

    But you have to know the history. The US Saudi alliance is what ‘saved the dollar’ when Nixon killed the gold peg. With an alternative infinitely fungible, and more importantly required commodity that can only be bought with USD, no one really gave a shit about gold.

    So the USD retained its global reserve status, and the “exorbitant privilege” that went with it.

    IF this relationship sours further, the first obvious step is for a private “secret” deal to trade oil with China for any other currency.

    A small step, not that consequential at first, but breaking a monopoly isn’t usually instant.

    Eventually, the practice will spread – one way or another.

    Which leaves a big dilemma for US policy makers. They’ve been basically a protection racket for 50 years. Beating up little countries so they only pay/accept dollars. China’s not a little country. The implications of escalation are… not good.

    A stupid move by a dunce president who apparently doesn’t know the importance of one hand washing the other, could lead to the eventual loss of USD global reserve currency status. It won’t be tomorrow. Let’s call this the cusp. But if things shift, bit by bit, day by day, yuan by euro, its status will shift from the only currency for international trade, to a currency for international trade.

    And that’s a huge shift in the world order.

    • MathiasMEMBER

      My view is China hasnt backed down an inch over the past 10 years. Im pretty much convinced that War with China is 100% certain. Yeah, that Porter thing, she could have been a ” Honey Pot “.

      I most definitely think China is attacking Australia. I highly suspect Queensland is being targeted and Election Fraud is on the cards in the coming election. When you watch that Jordies stuff and how much they hate America, perhaps, Australias being lined up to vote Labor for Chinese Influence at next Federal Election?

      I dunno. Im just a little Australian with keen interests in Domestic Australia. Corruption is everywhere, we are deliberately destroying the young and Gladys Liu is part of the Liberal Party.

      Its certainly not the Australia I grew up in and its now starting to infinge upon ” Living Life “. Personally, I think this Immigration is the worst thing we’ve ever done for the Country and yet, here we are, still wanting to do more after the Vaccines. Loading up Sydney and Melbourne with an Immigration Boost for Houses will not only drive some of the biggest National Security events Australia has even seen, but could see Canberra Hijacked ( if it already isnt ) by Foreign Forces.

      Australian Voices are practically ignored today. More migration will only make that worse.

      I’ve often wondered if ScoMo really is that stupid or whether he’s just an Agent of the CCP. He’s caused more damage to this Country then anyone I know. He’s isolated Australians, replaced us all with Migrants and practically destroyed our Economy. He seems to be doing more for the Chinese side then the Australian side. Either he’s a bumbling idiot or he’s an Agent of the CCP… and Gladys Liu is part of the story.

      I just find it hard to believe that someone could be that incompetent, on purpose.

      If your plan was to oestricise half the Country, turn it into social division and make tommorrows Young Australians hate Australia, then he’s done a fantastic job. Read the comments on these Jordies videos and you’ll see just how many Young are now more Pro-China then they are Pro-Australia. They figure this Country and its Government has abandoned them to high house prices so they might as well go Pro-China.

      Friendly Jordies – Why America is Dead to me – https://www.youtube.com/watch?v=4Dpx4o_uaGg

      Dont forget to read the comments.

      If your plan was to completely destroy Australia, then ScoMo has done a brilliant job.

  14. Wow… Im being head hunted by guys on the internet who want me to write Trading Bots for them ha ha.

    Dont these guys realise whats going on in the world? lol

    I mean, sure… if they are stupid enough and want to pay me… who am I to argue? I’ll take the money and write a Bot for them lol. No problem at all.

  15. Bahahahaha

    ” Women around the country are planning to march, including to Parliament House, on March 15, with the call going out for 4,000 women to symbolically surround the parliament to protest the treatment of women, and particularly women in politics. ”

    Out of the Frying Pan and into the Fire. So first we wipe the young out with 20 years of house prices and now we’re going to wipe out marriages with 20 years of Feminism. In a few years, men will be arrested just for looking at woman the wrong way lol. Looks like burning bra’s is back in vogue again.

    I mean, yeah… why not? What the hell lol. Its all falling apart anyway ha ha. Its good that these woman are doing this, in a way. Woman seem to be the only ones who have the energy left to take on this mess. Everyone else seems to have given up. The problem I have, is once Woman inherit all this Power, what will they do with it? Trading one Tyranny for another?

    Grumpy Old Liberal Men meet P*ssed off Angry Feminist Woman lol. You got to admit, this is so much fun.

    I look forward to the mud wrestling contest.

    https://www.abc.net.au/news/2021-03-06/christian-porter-scott-morrison/13220556

      • We go from extreme to extreme. We are trying to play god and its going to end very badly.

        I recommend you do a little research on Japan sometime. You might actually learn something.

        I suspect it’ll be happening anyway though.

        I think the problem with Capitalism is it has this constant thirst for money. Its a bit like how China fishes out the oceans just to keep there people alive. Australias not much different. We will do anything thats fully desperate to keep the Growth flowing, even if it means making huge sacrifices that most likely will end up causing irreparable damage ( just like house prices ).

        The young have just suffered 20 years of over-priced housing so yeah, at some point, Im expecting 20 years of Feminism and marital destruction. Australias got to make its money from somewhere.

        We are just destroying peoples ability to live an ‘Ordinary Life’. At least you can always tell woman to just p*ss off. There’s always that.

      • MathiasMEMBER

        You shouldnt have to live your life around being Bullied by Baby Boomers and Woman.

        I saw this coming back in 2007. The moneys running out. Its not my problem.

        You dont have to be a genius to predict how this is going to end.

  16. MathiasMEMBER

    Mardi Gras ‘Pride in Protest’ split-off rally given the go ahead by health officials – https://www.news.com.au/national/nsw-act/courts-law/mardi-gras-pride-in-protest-splitoff-rally-given-the-go-ahead-by-health-officials/news-story/f04d102bccb01715261909aab3754711

    Im beginning to think that half Australias Problems would be solved is we just destroyed New South Wales. Im pretty sure if all the States of Australia just rose there own Army, marched it into NSW, burnt down everything they saw and marched back out again… that more then 50% of Australias problems would go away overnight.

    Two wrongs dont make a right… but in Sydneys case, you’ll need more then a scrubbing brush to clean up the filth that goes on in that place. NSW has basically become gangrous and we all know what you do with a Gangrous Body Part… cut it off.

    If we bombed New South Wales, Im willing to bet the rest of Australia would go on living just fine without it. In fact, everyone would probably be in a far better position.

  17. Remote working and the attraction of more affordable locations …

    How Remote Work Is Reshaping America’s Urban Geography … Richard Florida and Adam Ozimek … The Wall Street Journal (behind paywall)

    https://www.wsj.com/articles/how-remote-work-is-reshaping-americas-urban-geography-11614960100

    Remote workers wanted: Small cities offer cash ($US 10,000 relocation incentive payment can return $US 50,000 to local community … refer WSJ video above) to those who relocate … VIEW AND READ MORE via hyperlink above …

    … Yes … new people do pay their way … and more … for governments at the local level capable of controlling costs ! …

    Richard Florida – Wikipedia

    https://en.wikipedia.org/wiki/Richard_Florida

  18. ‘It’s a 6 lane highway in to a market … and a goat track on the way out’ … Kyle Bass

    More Australians Consider Selling Their Home in Red Hot Market … James Thornhill … Bloomberg

    https://www.bloomberg.com/news/articles/2021-03-05/more-australians-consider-selling-their-home-in-red-hot-market?srnd=premium-asia

    • House prices posted biggest gain in 17 years in February
    • Low interest rates, improving economy are buoying market

    More than a third of Australian homeowners are planning to sell in the next five years, according to a report by Westpac Banking Corp., as they look to cash in on a booming market driven by low mortgage rates and an improving economy.

    The report showed 35% of households surveyed were considering selling, more than double the amount seen prior to the pandemic. More than one in ten were already in the process of putting their property on the market, or planning to do so in the next twelve months. … read more via hyperlink above …

  19. Will the flight of Kiwis to Oz resume … for greater opportunities and more affordable housing ?

    There are about 600,000 Kiwis in Oz … some 200,000 of them in Queensland.

    Aussie housing (not dwellings … apartments excluded … refer Demographia Surveys) overall is about 6.5 times annual household income / median multiple … with New Zealand near 8.0 and Auckland 10.0.

    Aussie’s usually occupied dwelling total stock value is about 3.5 times GDP, New Zealand’s more than 4.0 times.

    Australia’s regional centres are often significantly more affordable than New Zealand’s metros … particularly those in Queensland outside the south – east corner.

    There is a massive ramp up in new detached housing underway in Australia (with its superior production systems still in place … unlike NZ’s antiquated and costly cottage industry), due to the Home Builders Scheme and the covid accelerated shift to remote working …

    The pull of Oz: could another ‘brain drain’ be on the cards? … Miriam Bell … Stuff New Zealand

    https://www.stuff.co.nz/business/property/124449397/the-pull-of-oz-could-another-brain-drain-be-on-the-cards

    New Zealand’s Covid-19 response has made it a safe haven in a pandemic-ravaged world but, post-Covid, is there potential for a new Kiwi “brain drain” to Australia? Miriam Bell reports.

    The “lucky country” has always been a magnet for New Zealanders in search of opportunity. …

    … At the 2021 NZ Economics Forum this week, several speakers noted that sky-high house prices had the potential to push people towards Australia.

    And, in recent weeks, long-time housing affordability campaigner Hugh Pavletich has stepped up warnings that affordability concerns could prompt young people to move to Australia in search of cheaper housing. … read more via hyperlink above …
    .
    .
    Aussie property looks cheap compared to New Zealand … Leith van Onselen … MacroBusiness Australia

    https://www.macrobusiness.com.au/2021/01/new-zealand-makes-aussie-property-look-cheap/

    Snapshot from 1975: Auckland’s housing market then and now … Miriam Bell … Stuff New Zealand

    https://www.stuff.co.nz/life-style/homed/real-estate/124420300/snapshot-from-1975-aucklands-housing-market-then-and-now

  20. Red-Hot Freight Market Sends Used Container-Ship Values Soaring … Zerohedge

    https://www.zerohedge.com/markets/red-hot-freight-market-sends-used-container-ship-values-soaring

    No one predicted that the global shipping container industry would be on fire in the last couple of quarters, considering China’s robust economic rebound following the virus-induced downturn. Container rates have soared since last spring as there are few signs of immediate cooling.

    Container shipowners are capitalizing on the red hot ocean freight market by flipping older ships. Monaco-based International Maritime Enterprises sold its container ship Crete I for $46 million, more than four times its 2016 value ($11 million), according to Bloomberg, citing a new industry report via TradeWinds. … read more via hyperlink above …

  21. The days of cheap interest rates are over … removing cheap debt fuel from destructive asset bubbles …

    … Did central bankers, governments and economists generally misjudge the economic impacts of covid 19 and over – react ? … And if so … why ? …

    How interest rate increase would impact Aussie house prices … Tarric Brooker … News Com Au

    https://www.news.com.au/finance/economy/australian-economy/how-interest-rate-increase-would-impact-aussie-house-prices/news-story/e90dcf416558b4938884d8c3fd1b6abc

    China’s Exports Surge From 2020 Lockdown as Demand Booms … Bloomberg

    https://www.bloomberg.com/news/articles/2021-03-07/china-exports-surge-from-year-ago-when-lockdown-shut-factories?srnd=premium-asia

    China’s Focus on Bubble Risks Is a Warning Sign for Stock Market … Bloomberg

    https://www.bloomberg.com/news/articles/2021-03-02/china-s-focus-on-bubble-risks-is-a-warning-sign-for-stock-market

    … extract …

    … Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission and Party secretary of the central bank, didn’t mince his words. “From a banking and insurance industry’s perspective, the first step is to reduce the high leverage within the financial system,” Guo said at a briefing in Beijing. Speculation in the property market is “very dangerous” and bubbles in U.S. and European financial markets may soon burst, he said.

    “His talk shows a willingness to tolerate higher rates,” said Zhiwei Zhang, chief economist at Pinpoint Asset Management in Hong Kong. “This is a confirmation of monetary-policy stance tightening. That’s important.” … read more via hyperlink above …