Macro Afternoon

See the latest Australian dollar analysis here:

Australian dollar climbs with global stock surge

Asian share markets are having a very mixed start to the week in response to an equally mixed mood on Wall Street on Friday night with the fallout from the run in the Turkish Lira following the weekend sacking of the central bank governor has seen many risk currencies gap lower against USD.  Bitcoin did the same but has climbed back to just over the $57K level as it wants to attempt another break above the $60K level:

The Shanghai Composite is up nearly 1% going into the close, currently at 3437 points while the Hang Seng Index is putting in a scratch session, closing  at 29005 points. Japanese markets however fell fast on the open, with the Nikkei 225 closing 2% lower at 29174 points as the USDJPY pair continues to slide slower below the 109 handle:

The ASX200 took back its Friday session losses, lifting just over 0.6% to close at 6752 points while the Australian dollar gapped alongside other risk currencies in the wake of the Turkish Lira run, almost dropping below the 77 handle but clawing back later in the session:

Eurostoxx and S&P futures are flat so far, with the four hourly chart of the S&P500 showing price wanting to stop falling below the key 3900 point psychological level with momentum oversold and ready to bounce back on any good news:

The economic calendar is relatively quiet with a speech by Fed Chair Powell but also some existing home sales data in the US.

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Comments

  1. boomengineeringMEMBER

    Computer completely karked it, hard drive cactus.Dell all in one, never again. Back to a tower methinks.
    Anyone know what I should get ?.

    • The FED is making it rain! BRRRRRRRRRR!!

      All in one should still be serviceable. Surely the Apple Glue Fairy doesn’t work for Dell too, hm?

    • Go to some mob like UMart website and use the build feature to spec your own comp E.g. grunt vs your price point and for goats sack and never never ever ever buy OEM comps ….

      It you want portability get a cheap tablet or small lappy but keep the PC as your home base w/ a external back up drive.

      PS brother in law is drooling about the Mexicans and Roaches coming to Qld, said on Sat he’s happy to take their money as he departed in his …. cloud of dust in his AMG GLS 63 … chortle …

      • boomengineeringMEMBER

        Thanks Skip, bought it online and hated it since. Don’t need portability as use phone for most things. Good excuse to revert back to the tower. Will look up your advice but will probably buy one complete. Have an old one at the factory but superseded
        Btw those AMG tyres can cost $500 each.(best to avoid cloud of dust or smoke) Buying cheap ones tommow..

        • The Travelling Albatross

          Just saw your comment on the other thread how you foreclosed 2 days before Christmas…you’ve seen it all Boom that must gave you lots wisdom, best wishes to you always

          • boomengineeringMEMBER

            Thanks,
            worst part wasn’t the trauma it was not wanting to jump over the fire for years after, having been burnt before.
            It’s better to have had bad experiences than no experiences.

          • drsmithyMEMBER

            Its to easy and they have low cost build price, OME is rubbish no matter what you get and more expensive.

            Bottom end consumer lines (eg: Inspiron for Dell) are generally pretty rubbish, but the prosumer (Alienware and to a lesser degree XPS (excl. XPS laptops, which are excellent)) and midrange Enterprise (Optiplex/Dimension/Precision) kit is solid.

            If your desktop needs are modest, it’s hard to go past one of the Intel NUCs (or alternatives from vendors like ASUS, etc). Especially if you have no experience or particular interest in assembling a PC from components.

            I’ve built hundreds of PCs for myself an others in my life, my last PC purchase was an Alienware desktop (though a ~45% employee discount strongly influenced that decision) simply because I can no longer be arsed doing it myself.

          • Personally I find that Dell’s and HP’s business laptops last everything else is crap.
            I usually choose a 14 inch Dell Latitude. I like the keyboards and the build quality.
            I used to be a real dedicated IBM Thinkpad fanboy but that was a long time ago
            Critical specs for me are 8Gig or RAM 256 Gig SSD and a matt screen

  2. Mining BoganMEMBER

    Today I have learned that Lib staffers regularly go into female ministers’ offices to have a bat and that hookers are common in the halls of parliament house, with one even revealing that a senior elected type liked to have butt plugs in for question time.

    It’s been a good day.

  3. New Zealand’s housing debacle …

    … How much more of this idiocy is the public expected to tolerate ? …

    Housing crisis: Emergency motel stays averaging three months, some tenants stuck there for over a year … Jenna Lynch … Newshub

    https://www.newshub.co.nz/home/politics/2021/03/housing-crisis-emergency-motel-stays-averaging-three-months-some-tenants-stuck-there-for-over-a-year.html

    … extract …

    … Figures released exclusively to Newshub show in the three months to December last year, 1002 households had been living in motels for three to six months, a further 672 had been there for six to 12 months, and 120 have been living in emergency accommodation longer than a year.

    … Information obtained by Newshub shows the Government has spent an average of $366 a night housing people at the motel Stanley and her family is living at. Add that up every night over a year and it’s a total of more than $130,000, enough for a deposit on a house. … VIEW & READ MORE via hyperlink above

    … Access earlier MB post …

    https://www.macrobusiness.com.au/2021/03/links-22-march-2021/#comment-4094426 … and … https://www.macrobusiness.com.au/2021/03/macro-morning-1030/#comment-4094428

    New Zealand Prime Minister Jacinda Ardern: What impacts are the latest polls results having ? …

    … Is Ardern going to sort out the housing debacle … or is the housing debacle going to sort out Ardern ?

    Rumours of a prime-ministerial resignation may be intended to head-off something considerably more dramatic on the policy front, Chris Trotter suggests … Chris Trotter OPINION … Interest Co NZ

    • happy valleyMEMBER

      They’ll be saying that about ScoMo soon and apparently he doesn’t hold a hose, and perhaps not even a candle?

    • Mining BoganMEMBER

      Weren’t there stories like that coming out of the Netherlands 12 months ago?

    • Now ponder anyone having to under go surgery for whatever reason post covid, never the lest long term morbidity issues. Makes things like Gulf War Syndrome look good ….

  4. Arthur Schopenhauer

    Parliament House! 😆🤣😂😀…. 😶

    A den of iniquity. Jesus F Christ.

  5. Arthur Schopenhauer

    The man with who leaked the [email protected] photos to ‘The Project’, drum 🥁 roll, Porter’s mate PVO.

    Looks like the explosives 🧨 have been primed for self destruct!

    😀😂🤣😅😃😄😁😆🤣😂😅

    Election within 8 weeks?

    • Mining BoganMEMBER

      Geez, how does he think this will protect Porter?

      It’s all one giant sh!tstorm.

    • Why would PVO do that? Does Paid Leave Porter think that he’s done and want to wreck everything on the way out?

      • Arthur Schopenhauer

        Reading between the lines, in my humble opinion this is how it might have played out:
        – PVO has foolishly (useful idiot) destroyed his career defending Porter on the Project and Twitter
        – PVO didn’t read the room, defending the indefensible
        – PVO made Porters position worse, and revealed the ‘Mates’ club around Porter.
        – Potter dropped PVO with some harsh words
        – PVO furious at the lack of reciprocated loyalty, mixed in with looking at losing career (Uni position too)
        – PVO turns on Porter….

        Just human nature, I’m guessing. Narcissistic behavior template.

        • migtronixMEMBER

          WA libs will be wanting to tear strips off Sydney PM.

          That seems more likely to me…

          • FUDINTHENUDMEMBER

            More like take turns with him in the parliamentary sex dungeon. Bigger den of iniquity than the Catholic Church that joint.

          • well dear WA libs will be joining the mass extinction with behaviour like that …0 support in the electorate …0support in business sponsorship..pack up your office 3d

        • maybe a few more reasons than required. i can imagine PVO was sitting on this little nugget for a while, and seeing his reputation as ‘ethical centrist’ falling fast, decided to try and cash in some ‘fair and balanced’ credits

          • migtronixMEMBER

            Nah. How did he get his hands on it in the first place? This is WA libs out with a bat. I know the fvckers, they’d happily raze Canberra

          • Arthur Schopenhauer

            Maybe. I’ve been around these sort of characters, and have never known them to be anything other than vindictive, especially when they’ve painted themselves in a corner.

            The flood gates have opened, IMHO.

          • fair enough.

            what an absolute clusterfvck of a day for national politics. we hit the bottom but keep digging. if only dull witted parochialism was a exportable commodity.

          • migtronixMEMBER

            There is nothing more perochial than a WA Lib. Vindictive sure, but how did he get the material? It had to come from someone inside Parliament House and PvO ain’t that. WA libs have 2 seats in a state they feel they own, and it’s all down to Sydney Scott being an arsehole during pandemic….

          • Arthur Schopenhauer

            From his best mate, who introduced him to his future wife? It was intended for other purposes?

            You got a point Mig.

          • migtronixMEMBER

            Thats still WA libs bro, what aren’t you getting about this?

            They have no representation in their own state and now zero chance of a WA Prime Minister….

          • i can imagine PVO was sitting on this little nugget for a while, and seeing his reputation as ‘ethical centrist’ falling fast, decided to try and cash in some ‘fair and balanced’ credits

            Yes. We may be into the “bargaining” phase.

        • When Albrechonselen wrote that piece on 13 March in the Oz I thought then that they were skewering Porter.

          • migtronixMEMBER

            Why? It wasn’t his teenage manuscript that got exploited…

            I dunno, maybe PvO imagined the whole thing 🤷‍♂️

          • I don’t know why mig but that piece was bizarre, ostensibly defending Porter and got howls of protest. I re-read and thought maybe not, maybe it’s actually skewering.

          • No, the piece was meant to make her look unreliable, and to the kind of people it was aimed at, it probably did.

            But if you’re not coming from a base of “women lie wantonly about sexual assault”, and/or have some experience with people who may have had traumatic experiences, then the takeaway is a bit different.

  6. happy valleyMEMBER

    Jacqui Lambie on fire on ABC Afternoon Briefing this evening about Phil Gaetjens.

    • Her buttplug obviously has road to serfdom embossed [ribbed] on the side for pleasure and a likeness of Hayek on the bulb to suck her brains out.

      • That was no ordinary b*ttplug, but quite likely Thatcher’s entire right forearm as the fist of Adonis snapping its fingers.

  7. The Traveling Wilbur

    OM G.

    You’ve been banned! Again! What did you do?
    (saw your username on a comment flash up and then disappear as part of the refresh of a comment of mine above being submitted)

  8. RobotSenseiMEMBER

    Current Scomo program:
    > go to the Winchester
    > have a nice cold pint
    > wait for all of this to blow over

    So, it’s kinda not working.

  9. migtronixMEMBER

    In my time there have been Labor PMs from:
    WA
    NSW
    QLD
    VIC

    And Liberal PMs from:
    Sydney

  10. migtronixMEMBER

    Hookers and bloke:

    Reflecting is for ornamental pools
    Only fools and Narcissus are caught
    In its image
    The mantel of sterner stuff exudes
    Perversely pervasive
    The hollow-men of hallowed halls in stark
    Contrast to their captured colleagues…

  11. I was talking at dinner about which car my wife liked best, turns out her all time favorite was a 2003 Honda CRV gen 2.
    a red coloured box with a k24 motor and 4 speed auto.
    She honestly believes that this was automotive perfection.
    (perfection??? definitely not my definition of perfection)
    So what’s the best car that you ever owned?

    • migtronixMEMBER

      I’ll pay that choice.

      FWIW I’ve only owned like 2, don’t own one now, but the Peugeot 407HDi diesel coupe was a great drive.

    • My fave to drive was the 2006 Liberty Spec B 3.0. Revved to the moon and silky gearbox. Had to get rid of it when we had out 3rd kid. Sold it to my brother in law who still has it 11 years later. It still makes me smile when I see it.

      • the one Subaru that I owned blew through head gaskets quicker than I could blow a gram of coke.
        I’m not sure which habit was the most expensive.

        • Actually my engine blew a few months after I bought it. Was fully replaced under warranty and I never had a problem for 5 years after that.

      • Know IdeaMEMBER

        I had one of those. While a good car, my main beef with it was that the suspension was simply too firm.

    • 1974 Alfa Spider 2000 veloce. Used to lie in bed listening to it gently rusting away in the carport…

      • Mate I loved that car but they didn’t just rust away silently
        to be honest for Alfa’s, (and Fiat’s) rusting was the one motor sport where they vastly surpassed expectations.
        they were champions one and all

        • It was my daily driver for 15 years. Awesomest ride ever. I managed to roll it outside Goulburn in a thunderstorm in 2007 😢

          • May it rust in pieces… err… rest in pieces… no no, rust in peace… wait… I’ll get it now: rest in peace… yes that’s the one, right?

          • wow I’ve never owned a car for 15 years
            come to think of it I don’t believe I’ve never owned anything for 15 years.

    • Datsun 240z/FD RX7/Skyline GTR. I can’t pick a favourite. If pushed I’d say the RX7 may edge out in terms of comfort. The 240z in terms of raw mechanical feel.

      • yep I loved my RX7 when I drove it yet at the same time hated it every time I pulled into the Petrol station (which I did very regularly)
        There’s just nothing like the feeling of screaming away from the lights with everyone knowing that the brap brap brap noise is the sound of you chopping them.

    • desmodromicMEMBER

      The car I don’t own and bought a Ducati instead. Never do on four wheels what can be done on two!

    • I miss my mum’s 1990 Honda Civic Hatch.

      Despite humble stats, it was enormously fun to drive, and I always got out with a smile on my face.

      I learned to heel & toe in that car, and it had an excellent gear change. I flogged it mercilessly and eventually wrote it off trying to go around some corners too fast, for which my mother has never forgiven me (because the replacement ‘97 Civic she got was nowhere near as nice to drive).

      • Hondas were freaking amazing in that era. Genuinely world leading stuff plus they dominated F1 constructors for the best part of a decade until the early 90s.

        And then the accountants got involved in the 90s.

      • agreed I had a friend who owned a late 80’s honda civic and that was so much fun to drive, so nimble and so responsive you just had to point it at the corner and the car did the rest.
        I had a corvette at the time, that was the era of peak stupidity in American automobile design the car was fast but really not fit for the purpose of driving. I swapped that for a BMW E30 and thought I was in heaven.

      • I love Honda’s of that period also. My friend has a 3rd Gen Prelude (3 of them) and he’s thinking of selling them. I keep telling him not to because they are awesome little cars.

    • The Traveling Wilbur

      I’m not sure which is less reliable, that, or David Warner. I guess if push comes to shove it would be a tie – given they both fall apart after 50 runs.

  12. FUDINTHENUDMEMBER

    Some MPs very lucky we live in a liberal democracy. In some countries, corrupt scum ministers get sodomised with a bayonet before getting shot in the street for constantly fcking up (Gaddafi). Just sayin.

    • FUDINTHENUDMEMBER

      Perhaps the ONLY legitimate profession at parliament house. Apart from security guards and window cleaners (and couch cleaners)

  13. A fix for our new house price madness … Peter Tulip * … Spectator Australia

    https://spectator.com.au/2021/03/the-key-to-cheaper-housing/

    A common objection to the idea that planning restrictions make housing unaffordable is that some other factor is said to be more important. Leading candidates include low interest rates, high immigration, tax concessions and location premiums.

    However, contrary to what is often thought, these demand-side explanations are not alternatives to the standard view. They are complements. The importance of these demand-side factors does not weaken the argument that zoning matters. It clarifies it. … read more via hyperlink above …

    • Peter Tulip is Chief Economist at the Centre for Independent Studies. He previously worked in the Research Department of the Reserve Bank of Australia and before that at the Federal Reserve Board of Governors. His recent research focuses on housing and monetary policy.
    .
    .
    … When will the NZ Governments Ardern, Robertson and Woods be asked why 25 year old Dallas based school teacher Lani Huang on $US 58,400 annual income, bought her first home a year ago for $US 155,000 … 2.66 times her SINGLE EAERNER income ? (further extensive background information http://www.PerformanceUrbanPlanning.org front page 2020 Section … scroll down to FURTHER UPDATE) …

    How a 25-year-old teacher making $58,000 in Dallas spends her money … VIDEO . CNBC

    https://www.cnbc.com/video/2020/12/17/58k-a-year-dallas-millennial-money-lani-huang.html