Share on Facebook Share on Twitter Share on Reddit + - Macro Afternoon: 16 April 2021 By Ritualised Forms in Miscellaneousat 4:36 pm on April 16, 2021 | 100 comments EUR/USD AUD/USD GBP/USD USD/JPY Bitcoin Brent Gold ASX200 S&P500 FTSE100 Nasdaq100 Nikkei225 About Latest Posts Ritualised FormsRitualised Forms....we know them for what they are Latest posts by Ritualised Forms (see all) Weekend Links: 17-18 April 2021 - April 17, 2021 Macro Afternoon: 16 April 2021 - April 16, 2021 Macro Afternoon: 15 April, 2021 - April 15, 2021 Share on Facebook Share on Twitter Share on Reddit + - YOU MAY ALSO BE INTERESTED INLinks 17 May 2022Global Macro / Markets / Investing: Macrobusiness Sundries: 14-15 May, 2022Camden Haven 'Dear MB friends, we hope youMacro Afternoon: 13 May, 2022Macrobusiness Sundries: 7-8 May 2022Desmodromic 'Leaving Alice Springs I headed into Comments Mining BoganMEMBER April 16, 2021 at 4:39 pm So, who wants to start their weekend with the great big thread of Scummo? https://mobile.twitter.com/SarkySage/status/1373758449155121154 Also… https://www.sbs.com.au/news/australians-warned-to-prepare-for-1-000-virus-cases-a-week-if-international-borders-reopen GramusMEMBER April 16, 2021 at 5:04 pm Scummo, trying to open the borders at the same time as projecting an image of keeping them closed. He’s still gunning for an early election…. The ‘rollout’ won’t be done by the election so he is going to position himself as Australia’s protector for keeping borders shut. Just watch… drt15 April 16, 2021 at 8:25 pm Great links. But while his popularity with women has fallen to 29% (how sad is that – 29% would still vote for him???) but men’s approval rate has not budged one jot. Mmmmm Ronin8317MEMBER April 16, 2021 at 4:47 pm Next time someone say we need more funding for age care, show them this article. https://mobile.abc.net.au/news/2021-04-16/st-basils-greek-church-taxpayer-funding/100068128 The elderly is being fed on $6 a day so the Greek Archbishop can stay in his 6.5 million dollar apartment with a harbour view. DavidMEMBER April 16, 2021 at 5:20 pm This is what happens when you privatise any social service and continue to provide government funding… vocational education, social housing, NDIS. Thank God the Nats will block the privatisation of Australia Post. drt15 April 16, 2021 at 8:27 pm +1 Amen to that Mining BoganMEMBER April 16, 2021 at 5:25 pm The only thing missing from this horror is photos of the Archbishop picking up rentboys at The Wall. So far. happy valleyMEMBER April 16, 2021 at 5:55 pm Religion = the root of all evil? ITAgMEMBER April 16, 2021 at 5:57 pm Subtle footsore April 16, 2021 at 5:58 pm Greed would be my pick. It just manifests itself in a particularly ugly way in religion. Know IdeaMEMBER April 16, 2021 at 6:05 pm That is a little harsh. I understand that the use of the word “Greek” in the archbishop’s title is to do with nationality. The Traveling Wilbur April 16, 2021 at 6:14 pm What nationality is “Church”? LSWCHPMEMBER April 16, 2021 at 7:47 pm There certainly seems to be a lot of evil rooting being performed by the “godly”. happy valleyMEMBER April 18, 2021 at 10:18 am They’d put reusa to shame in terms of rooting? The Traveling Wilbur April 18, 2021 at 8:57 pm Only the well-heeled right-thinking ones: https://p1.liveauctioneers.com/1958/92447/47207470_1_x.jpg ram April 17, 2021 at 6:24 am Nice view. Those seats next to the standard glass balustrade look fixed. Oops. I know we are not meant to say it but that doesn’t make it false. The Greeks are like the dews shopping in Greek stores, knowing all the Greeks, working in Greek circles , economic zone indeed. Someone should report this to building inspector s as this is a public safety hazard noting it’s a business/ charity premises. When standing on the bench seat a safe balustrade height is not provided. Can’t anyone be an Australian Australian . Hugh PavletichMEMBER April 16, 2021 at 4:50 pm Melbourne’s median house price surges past $1million for the first time ever – here are the suburbs where the property market is BOOMING … UK Daily Mail https://www.dailymail.co.uk/news/article-9476739/Melbournes-median-house-price-surges-past-1million-time-amid-rebound-Covid.html • Melbourne’s median price has surged past $1million mark for the first time ever • Mid-point average for house prices reached $1,004,500 by the end of March • The 8.8 per cent increase is steepest in the first quarter of the year since 2009 • Home prices jumped nationally by 2.8 per cent amid rebound from pandemic The Traveling Wilbur April 16, 2021 at 5:35 pm Jeez bro, did Mulbon move across the dutch to NZ eh? Choice. Arthur Schopenhauer April 16, 2021 at 7:31 pm Who says property doesn’t double every 7 years. Reus was right again. GavinMEMBER April 17, 2021 at 12:44 am And yet I feel no richer? What gives? When does the wealth effect kick in? happy valleyMEMBER April 18, 2021 at 10:20 am When you count how many people can’t afford your home and you realise you are truly channelling the LNP kool-aid? Mig Fan April 16, 2021 at 4:51 pm Becker get the arse? Know IdeaMEMBER April 16, 2021 at 5:04 pm He is just resting. TailorTrashMEMBER April 16, 2021 at 5:16 pm Lovely plumage The Traveling Wilbur April 16, 2021 at 5:37 pm And we were grateful for it. GavinMEMBER April 17, 2021 at 12:45 am Poor Petey https://youtu.be/uXEb_ODMlhs Hugh PavletichMEMBER April 16, 2021 at 4:56 pm New Zealand … Northland mortgage broker petitions Government to scrap First Home Grant price caps … Rob Stock … Stuff NZ https://www.stuff.co.nz/business/124846872/northland-mortgage-broker-petitions-government-to-scrap-first-home-grant-price-caps … extract … … Affordable housing campaigner Hugh Pavletich opposed moves to enable young people to take out ever-larger home loans. The growing gap between house prices and incomes The average value of New Zealand’s housing stock increased 8 per cent in the year to October 2019 (2020 ?). It’s increased by another 11 per cent since then. (graph) “Political playtime is over. Politicians have got no option but to deal with the real structural issues; land supply and infrastructure funding,” he said. Talking about the price caps was a distraction that was wasting everybody’s time, he said. “It’s callous in the extreme to be loading up these young people with abusive mortgages,” Pavletich said. … read more via hyperlink above … Leading credit agency predicts New Zealand house prices will fall in coming year … Nona Nona Pelletier … Radio NZ / TVNZ https://www.tvnz.co.nz/one-news/new-zealand/leading-credit-agency-predicts-new-zealand-house-prices-fall-in-coming-year Housing market heading for the stratosphere as prices and sales volumes rocket up … Greg Ninness … Interest Co NZ https://www.interest.co.nz/property/109957/housing-market-heading-stratosphere-prices-and-sales-volumes-rocket Prime TV last evening investigative programme on New Zealand’s apartment construction disaster ‘A living hell; Apartment disasters’ full programme just posted on its website. Essential viewing … A living hell: Apartment disasters (trailer and full doco) … Prime TV New Zealand https://www.primetv.co.nz/a-living-hell-apartment-disasters jkambah April 16, 2021 at 5:05 pm An excellent expose of how the media manipulates public perceptions, in this case it refers to Trump, Biden and climate change agenda. Young people are easily fooled by the media to become useful tools and followers of agenda that actually work against their own slf interests. https://gracelandupdates.com/wordpress/wp-content/uploads/2021/04/2021apr15bposeidon1.mp4 Know IdeaMEMBER April 16, 2021 at 5:19 pm We are fortunate indeed that the right-leaning MSM would never engage in such subterfuge. Mining BoganMEMBER April 16, 2021 at 5:06 pm Run away! Run away! https://www.abc.net.au/news/2021-04-16/banking-citigroup-consumers-australia/100073604 TailorTrashMEMBER April 16, 2021 at 5:26 pm A good few years ago I went into one of their branches to ask if they would be interested in taking care of a wad of my hard earned . It was the Chatswood branch and the young Chinese chap was quite condescending as I was not newly arrived from Beijing or Shanghai with piles of transmigrated money ….and no I did not want a side serve of packaged sh1tbonds with my term deposit I left and never went back …….yes their exiting Australia must be signalising something …… The Traveling Wilbur April 16, 2021 at 5:41 pm I love Citigroup. They’ve saved me thousands on my mortgage. (that I have with a different bank) (via 0% int $0.00 bal transfer fee credit cards) (buggérs never got a cent off me) happy valleyMEMBER April 16, 2021 at 5:59 pm Obviously, the chinese chap was probably unimpressed that your hard earned was exactly that – and not dirty laundering dosh? TailorTrashMEMBER April 16, 2021 at 6:53 pm Why bother with hard earned in a colonial outpost when the new colonials can ostentatiously outbid that as they do Straya is approaching a critical decision point Choose wisely………… LSWCHPMEMBER April 16, 2021 at 7:50 pm I’m choosing 9mm hollow points. Lots and lots of them. And .357 158 grain heavies as well. TailorTrashMEMBER April 16, 2021 at 8:06 pm LSW …..I’d really like a Maxim ….great bit of kit for when the empire strikes back…..might need digital enhancement though ….. JohnRMEMBER April 16, 2021 at 5:26 pm What happened to that whimsical feller with the organic lettuce and the Stratocaster that used to haunt these pages? https://www.youtube.com/watch?v=tqsy9Wtr1qE The Traveling Wilbur April 16, 2021 at 5:45 pm You’re casting a pretty wide net with that description (for these parts). Maybe a bit more programmatic specificity. ITAgMEMBER April 16, 2021 at 5:59 pm The H Frostilicus April 16, 2021 at 7:12 pm The wHo? Know IdeaMEMBER April 16, 2021 at 5:58 pm As to Harry, I am not sure. But having watched the video my life is now complete. JohnRMEMBER April 16, 2021 at 9:37 pm Every generation finds a new way to get on the p!ss TailorTrashMEMBER April 16, 2021 at 5:31 pm This Jeremy fellow is a man of his time thats for sure Why have they not invited Oprah ….FFS https://www.perthnow.com.au/news/royal-family/british-tv-presenter-jeremy-vine-slammed-for-suggesting-prince-philips-funeral-is-a-racial-issue-ng-b881848387z Swampy April 16, 2021 at 6:10 pm Go dees May not age well so I have 5 on the Hawks Mining BoganMEMBER April 16, 2021 at 6:32 pm They’ll go better than my Sainters did last night. Swampy April 16, 2021 at 7:49 pm Trying to wrap my head around that Hoping that got the anger out of the tigers for next week May is a huge out as is fritzkreig but Ben brown is about ready for the tigers Should be an epic game – I’ve got money on the Dees I am upset plus working out a multi – the 10 leg hawks multi writes itself pretty much Swampy April 16, 2021 at 7:51 pm Both my grandmothers barracked for the aints being from Sandy and Brighton Paternal grandfather pies and maternal tigers yet thanks to dad (thanks dad) I end up barracking for Melbourne Jesus wept Can we all agree to hate Geelong by the way. How Hawkins doesn’t get any citation is beyond me Mining BoganMEMBER April 16, 2021 at 7:58 pm I was at the West Coast game. Awesome to watch. Couldn’t understand last night. Glad I didn’t go. HoodyMEMBER April 16, 2021 at 7:49 pm Not to late to get on the South Melbourne train. Swampy April 16, 2021 at 7:53 pm Fuschias v Bloods in a couple weeks an interesting game at the G Mining BoganMEMBER April 16, 2021 at 7:56 pm Lovey is a blood. Her family South Melbourne born and bred. happy valleyMEMBER April 16, 2021 at 6:36 pm ScoMo doing what he does best – cosying up to business mates? Today, it was Twiggy. GramusMEMBER April 16, 2021 at 9:14 pm Not mates, masters… WorkingFromHomeMEMBER April 16, 2021 at 9:30 pm https://www.perthnow.com.au/politics/scott-morrison/scott-morrison-joins-in-morning-stretches-with-christmas-creek-fifo-workers-ng-b881848289z Arthur Schopenhauer April 16, 2021 at 7:18 pm https://ourworldindata.org/grapher/daily-covid-vaccination-doses-per-capita?tab=chart Go Hungary 🇭🇺 nyleta April 16, 2021 at 7:36 pm Are these buoyant US markets really a good thing for that country ? I thought US peoples retirement money would be in the market but foreigners are taking over. https://twitter.com/MarioBerky/status/1382684222205390849 Their net international investment position just keeps getting worse at a quicker pace…..change of direction needed https://www.brookings.edu/blog/up-front/2021/04/14/the-us-is-increasingly-a-net-debtor-nation-should-we-worry/ SweeperMEMBER April 16, 2021 at 8:10 pm It’s very hard to gauge the US’s NIIP because a large fraction of their foreign assets are held through tax havens. So you don’t really know what their foreign asset portfolio is. Most likely it is very high return and healthy. eg. Emerging market equities would offset treasuries held by emerging markets. The Travelling Albatross April 16, 2021 at 8:22 pm https://www.theage.com.au/national/victoria/household-debt-escalates-as-victorian-struggle-to-pay-bills-20210415-p57jls.html Frostilicus April 16, 2021 at 9:02 pm Obviously they’re not feeling “ritch” enough… TailorTrashMEMBER April 16, 2021 at 9:31 pm They need to have a quiet word to their houses …..get them doing a bit more of the lifting … happy valleyMEMBER April 16, 2021 at 10:24 pm Tell them to hang loose until Josh gets his irresponsible lending regime through, then they’ll never have to worry about debt again. V April 18, 2021 at 1:52 am Look at the comments on the article, people complaining about escalating costs of energy bills. But no surprises when part-time power generation options are now in favour. Arthur Schopenhauer April 16, 2021 at 8:23 pm “Home Quarantine” is an oxymoron. bolstroodMEMBER April 17, 2021 at 2:35 pm What will the neighbours say eh ? Not an election winner. SweeperMEMBER April 16, 2021 at 8:36 pm Bitcoins growth curve looks very much like Fairfield Sentry. That is very “uncorrelated” SweeperMEMBER April 16, 2021 at 8:43 pm Say you’ve got an asset which is inversely correlated to nominal GDP. Let’s call it bonds. Say you’ve got an asset which is positively correlated to GDP – equities, houses… every other asset. Say you’ve got an asset which is correlated to bonds and GDP. Let’s call it gold. How can you have an asset which has no correlation to GDP or bonds. Makes zero sense. Bitcoin is a joke. Every asset is just current/future GDP measured against bonds. If you can’t see a correlation their is something seriously wrong. More than wrong, it’s impossible for it to be an asset. Wake up regulators. TailorTrashMEMBER April 16, 2021 at 8:53 pm I may be simple minded ….but I see bitcoin as the accumulated value of already consumed electricity…. .but then I don’t have any “investment grade “ appartments either …..so what would I know …… Frostilicus April 16, 2021 at 9:00 pm Which you can’t convert into anything of value. At least with PMs you may be able do do something mildly useful. Bitcoin is background radiation … it’s there, but you can’t do sh*t with it. TailorTrashMEMBER April 16, 2021 at 9:27 pm I have a stash of sovereigns…..Victoria , Edward VII , George V , George VI …..nice and shiny and touchable …..of course I can be cheated out of them as they reside in a vault made of 6 feet of concrete at the pleasure of the government of Australia But bitcoin resides in computers in where ? SweeperMEMBER April 16, 2021 at 9:15 pm Why am I going to hold it though if it doesn’t return me current / future n GDP v buying a bond, or protect me against a collapse in bond prices. It actually can’t be an asset. In theory it wasn’t an asset because it has no intrinsic value. Now it’s been tested in markets and the *lack* of correlation to anything had confirmed it isn’t an asset. Yet that confirmation is leading millennials to buy it. footsore April 16, 2021 at 11:26 pm I take crypto to be like the scene in the Wire where Omar is in the witness box testifying against Bird. The lawyer is telling him how he isn’t worth anything because he sticks up dealers and profits off the mess of that part of Baltimore. Omar calmy responds “Just like you.”. The lawyer is making all his money representing the drug dealers and murderers. His place in society is accepted. Omar is just highlighting that they are both in the game, it’s just that one is more accepted. And the only reason that the drug trade and all the carnage around it is occurring is how messed up institutions that are meant to keep society in some way fair have failed. That was a long way of saying that value doesn’t matter. Everyone is trying to find a way to play the game and at the moment crypto is a game that gives those outside a hope a way of getting ahead. FUDINTHENUD April 16, 2021 at 8:46 pm Whatever happened to the LetitRip ™ muppets? “Last week, the Brazilian Association of Intensive Care Medicine said that for the first time, most Covid patients in ICU were under 40 – a finding echoed by frontline doctors” https://www.theguardian.com/world/2021/apr/16/spreading-faster-hitting-harder-why-young-brazilians-are-dying-of-covid?CMP=Share_AndroidApp_Other And Sweden seems pretty free and awesome, not.. https://www.google.com/amp/s/www.euronews.com/amp/2021/04/14/swedish-region-declares-personal-lockdown-as-country-sees-daily-covid-cases-soar Arthur Schopenhauer April 16, 2021 at 9:09 pm They forked into an alternate timeline back in August 2020: https://www.crikey.com.au/2020/08/28/numbers-v-humans-a-short-guide-to-those-picking-the-former-over-the-latter/ Oh, oh, I’m Coming! 😂🤣 More seriously, for all the talk of viruses becoming less deadly over time (decades to centuries), there is also the very real possibility of a virus becoming deadlier over time. FUDINTHENUD April 16, 2021 at 9:38 pm Both Gigi and Creighton were on Q&A recently doubling down and defending on their earlier positions, even in the overwhelming data and evidence against. They joy of being an economist as a profession.. it gives you your own percieved mental cover. You can be wrong and lean into it because the jury is always out. Arthur Schopenhauer April 16, 2021 at 9:43 pm Economic journalism is a bvllshutter’s profession. Thanks to the pandemic for making it obvious to blind freddy. happy valleyMEMBER April 16, 2021 at 10:20 pm Gigi and Creighton are a right pair. The Traveling Wilbur April 16, 2021 at 10:23 pm Of? Frostilicus April 17, 2021 at 8:54 am Of…. knobs. Osiris April 16, 2021 at 8:54 pm Working Class Man Morrison leads mine workers’ exercise on WA charm offensive https://thenewdaily.com.au/news/national/2021/04/16/scott-morrison-mine-workers Your taxpayer funded enthalpy training at work, no doubt a LNP linked consultancy got a nice fat fee. Meanwhile the iron comes back as chineze subs and ships WorkingFromHomeMEMBER April 16, 2021 at 9:32 pm In case you never asked for it, the video… https://www.perthnow.com.au/politics/scott-morrison/scott-morrison-joins-in-morning-stretches-with-christmas-creek-fifo-workers-ng-b881848289z happy valleyMEMBER April 16, 2021 at 10:22 pm Does anyone know whether SFM has been to, or is intending to pop in to, devastated Geraldton on his current WA empathy-practice tour? The Traveling Wilbur April 16, 2021 at 10:25 pm What could go wrong? Popcod April 16, 2021 at 10:58 pm Someone will actually want to shake his hand? There’s no pet goats? skippy April 16, 2021 at 9:19 pm https://www.brasilwire.com/in-plain-sight-bolsonaro-moro-and-the-cia/ morrrieMEMBER April 16, 2021 at 9:44 pm Sprung – just saw DLS on the Project! TailorTrashMEMBER April 16, 2021 at 9:52 pm Straya ….punching above its weight….,,,. https://reneweconomy.com.au/oecd-says-australia-is-2nd-dirtiest-economy-per-capita-tells-it-to-clean-up/amp/ [email protected] April 17, 2021 at 1:44 pm cormann sez I’ll get right on to that. The Traveling Wilbur April 17, 2021 at 8:48 pm cormann senz? not in Australia brah. Osiris April 16, 2021 at 11:29 pm https://markets.businessinsider.com/news/stocks/morgan-stanley-archegos-loss-911million-equity-trading-hedge-fund-implosion-2021-4-1030312567 Osiris April 17, 2021 at 2:52 pm Queensland’s homelessness crisis worsens as rents soar, government assistance reduced https://www.abc.net.au/news/2021-04-17/queensland-homeless-crisis-rental-shelter/100074284 reusachtigeMEMBER April 17, 2021 at 7:17 pm Why we haven’t culled these fckers into extinction is beyond me!! https://www.news.com.au/travel/travel-updates/incidents/toddler-suffers-significant-injuries-after-dingo-attack/news-story/2b9065d2cf22a8f9e5b0c9f2b4f7fc93 They aren’t native. They are just giant feral rats that have been proven to eat babies. Put a bounty on their pelts and encourage profits then we can rid ourselves of this vermin. Oh, do it for possums too. I hate those filthy manicured garden killing fckers! Best thing about NZ is that they turn those little sh1ts into the smoothest gloves and socks you’ll ever wear. The Traveling Wilbur April 17, 2021 at 8:46 pm How do they go as Johnnys? The Traveling Wilbur April 17, 2021 at 10:11 pm I mean, I gave them a try myself once. Wasn’t easy I tell ya’. But the chemist was closed and there were none to hand. Just couldn’t figure out how to stop the little fluckers from bitting. Hugh PavletichMEMBER April 18, 2021 at 9:00 am New Zealand’s politically poorly governed and faltering housing market increasingly vulnerable to ‘can do’ and more affordable Australia … … It is a pity New Zealand failed to deal with the real structural issues (land supply and infrastructure debt financing) out of the 2017 election … as promised … … Now New Zealand must now live with the consequences … Housing crisis: Price falls coming, but ‘nothing compared to’ how much they’ve risen – economists VIDEO … Dan Satherley … Newshub https://www.newshub.co.nz/home/money/2021/04/housing-crisis-price-falls-coming-but-nothing-compared-to-how-much-they-ve-risen-economists.html Auction room activity is cooling as the housing market heads out of the peak selling season … Greg Ninness … Interest Co NZ https://www.interest.co.nz/property/109982/auction-room-activity-cooling-housing-market-heads-out-peak-selling-season … while Australia’s property and finance sectors leaders publicly discuss real issues with clarity … Housing affordability jumps to top of property industry concerns … Michael Bleby … Australian Financial Review … google search title if blocked … https://www.afr.com/property/residential/housing-affordability-jumps-to-top-of-property-industry-concerns-20210412-p57imn ‘Supply is restricted’: NAB chief calls for faster housing approvals … Jennifer Duke and Clancy Yeats … Sydney Morning Herald https://www.smh.com.au/politics/federal/supply-is-restricted-nab-chief-calls-for-faster-housing-approvals-20210416-p57jqb.html V April 18, 2021 at 3:15 pm Hugh, It will be the final death knell for the NZ economy that not only does Australia have a wider range of industries that graduates can come to work in that pay higher salaries, but the way it is going, it will also have cheaper housing. Doesn’t look like NZ is taking this threat seriously enough. A NZer used to look at Sydney or Melbourne and think gee isn’t it expensive, but you look at Auckland prices, including cost of living and it is arguably worse. Particularly because of the poor state of infrastructure etc. in Auckland. Hugh PavletichMEMBER April 18, 2021 at 3:31 pm Argentina … Buenos Aires … How a Plan to Stabilize Rents Sent Prices Skyrocketing … Patrick Gillies … Bloomberg https://www.bloomberg.com/news/articles/2021-04-16/buenos-aires-plan-to-stabilize-rents-backfires Buenos Aires landlords have raised the rent on apartments more than 60% ahead of a new law that gives the government control over price increases. From San Francisco to London to Hong Kong, demand has caved for rental apartments during the pandemic, bringing prices down, too. But in one global metropolis, rents are surging like never before. Tenants in the city of Buenos Aires are seeing apartment prices soar 67% from a year ago to an average of about 35,000 pesos a month ($377). Rent is now rising twice as fast as paychecks, and well ahead of other prices in one of the largest cities in Latin America. “We never imagined rents going over 60%, nobody planned for this,” says Leandro Molina, commercial director at ZonaProp, one of the top online real estate platforms in Argentina. “It’s the biggest increase on record.” Galloping Rents Rent prices have surged in Argentina after a housing reform became law … read more via hyperlink above … Super Phoenix April 18, 2021 at 11:27 am test The Traveling Wilbur April 18, 2021 at 3:31 pm COVID, or syphilis, again? dumpling April 18, 2021 at 11:44 pm LOL, somehow I can post again. The Traveling Wilbur April 19, 2021 at 12:04 pm You’ll be gold, as soon as they unban your other seven accounts?