Macro Afternoon: 25 June, 2021

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Comments

  1. SweeperMEMBER

    What are the odds Sco Mo will back-flip on the Victoria lock-down stance and hand NSW income support if they go into lock-down.

    • SweeperMEMBER

      what a joke of a non-asset where that can happen.

      “but the agency has said it can’t launch a formal investigation because bitcoin and other cryptos are not legally considered financial products”

      hahaha so so ridiculous

        • SweeperMEMBER

          why can’t they trace the theft on the blockchain?
          Isn’t that the point of it.

          • migtronixMEMBER

            Blockchain forensics will make you *cough* Weep, motherfvcker.

            Careful what you wish for….

          • A pig in a poke – ?????

            From Taleb’s conclusion:

            We presented the attributes of the blockchain in general and bitcoin in particular. The customary standard argument is “bitcoin has its flaws but we are getting a great technology, we will do wonders with the blockchain”. No, there is no evidence that we are getting a great technology —unless “great technology” doesn’t mean “useful”. And we have done —at the time of writing —in spite of all the fanfare, still close to nothing with the blockchain. – snip

            https://www.nakedcapitalism.com/2021/06/nassim-nicholas-taleb-shellacks-bitcoin-and-cryptocurrencies.html

            If your adamant just correct Taleb on his twitter … I’ll watch …

          • SweeperMEMBER

            Agree with Taleb it’s just an over glorified password protected spreadsheet where some clown in China knows the password.
            Then there are layer 2 transactions which don’t appear anyway.

  2. New Zealand’s lethal housing bubble: And too … Rating agency S & P …

    … When do the central and local authorities intend to allow affordable new housing to be built ? …

    … Why are they effectively persisting in banning it ? …

    Ratings agency S&P warns house prices may rise further, risking bigger correction … Tom Pullar – Strecker … Stuff NZ

    https://www.stuff.co.nz/business/125568980/ratings-agency-sp-warns-house-prices-may-rise-further-risking-bigger-correction

    … S & P is just one of a constant stream of responsible agencies warning of the destructiveness of unnecessary politically created housing bubbles … including …

    2021 Demographia International Housing Affordability Survey

    http://www.demographia.com/dhi.pdf

    World’s Most Bubbly Housing Markets Flash 2008 Style Warning … Enda Curran … Bloomberg

    https://www.bloomberg.com/news/articles/2021-06-15/world-s-most-bubbly-housing-markets-flash-2008-style-warnings?srnd=premium-asia

    … Knight Frank reports …

    Global Home Prices Rise Most Since 2006, Fueling Bubble Concerns … Faris Mokhtar … Bloomberg

    https://www.bloomberg.com/news/articles/2021-06-03/global-home-prices-rise-most-since-2006-fueling-bubble-concerns

    • … According to the latest Ipsos Issues Monitors, not surprisingly, housing is a major concern of a staggering 60% of New Zealanders, 22% of Australians and 9% of the British …

      Ipsos NZ Issues Monitor February 2021 | Ipsos

      https://www.ipsos.com/sites/default/files/ct/news/documents/2021-03/13th_ipsos_new_zealand_issues_monitor_report.pdf

      … being aware too … of New Zealand’s long and sorry history of dense urban development failures … with this being simply the latest …

      A Living Hell: Apartment Disasters Documentary … Prime TV NZ

      https://www.primetv.co.nz/a-living-hell-apartment-disasters

      … Expect droves of desperate and aspirational New Zealanders to head for Australia going forward … asking themselves one simple question … is it better to get out before the housing bubble bursts … or after ? …

      Budget 2021: Is New Zealand on the eve of a new brain drain to Australia? … Luke Malpass … Stuff New Zealand

      https://www.stuff.co.nz/national/politics/125142382/budget-2021-is-new-zealand-on-the-eve-of-a-new-brain-drain-to-australia

      • DodgydamoMEMBER

        NZ remains the canary in the Australian housing crash coalmine. The same Australian banks doing most of the lending there, and every metric of measuring debt levels and affordability is worse, yet for years NZ’s housing market still hasn’t collapsed.

        • The unstoppable covid accelerated new age of dispersal and decentralization of governments …Simon Kuper ofThe Financial times explains …

          … Are you silly enough to pay loser bubble value for real estate ? …

          Good things happen when governments work from home … Simon Kper … Financial Times
          … behind paywall …

          https://www.ft.com/content/50d848e7-1f86-4a68-9b25-8eb5c8b88e8f

          This trend could become one of the pandemic’s best legacies, ushering in cheaper capitals, happier citizens and better public service … read more via hyperlink above …

          Good things happen when governments work from home … Simon Kuper of The FT … Afegames com

          https://afegames.com/good-things-happen-when-governments-work-from-home/

          When people talk about the work-from-home revolution, they usually discuss companies: Apple does it, HSBC that, EY the other. But the biggest impact on society will be made by the biggest employer in each country, the only one whose job affects every resident: the state. Once governments start working from home, countries change.

          “The Government Rediscovered”, Bill Clinton’s old mantra, suddenly happened. Here’s how the current White House the future of bureaucracy in a recent report: “Many [US federal] employees will participate in a mixture of telework and on-site more than before the pandemic. ‘It says that employees who have done teleworking can generally continue to do so. This global trend could become one of the best legacies of the pandemic: cheaper capitals, happier citizens and the long-term advent of digital government.

          Even before the pandemic, some governments were already to remove civil servants from overheated capitals. The UK has started sending people from London to a set “regional hub”. South Korea has moved two-thirds of its government agencies from Seoul. Norway has placed its peacekeeping agency in Forde, a small town in the middle of nowhere, even by Norwegian standards. Portugal has set a target to promote telework for 25 per cent of its central government employees by 2023; when the pandemic struck, it hit 90 percent almost immediately. (I learned it and much more as chairman of a webinar on the OECD topic.)

          Bureaucracy is generally well suited to be administered at home. … read more via hyperlink above …
          .
          .
          … Remember what University of Sydney, Professor of Transport Studies, David Levinson, said earlier within this outstanding video presentation … a classic …

          The New New Normal VIDEO … David Levinson … University of Sydney / Transportist

          https://transportist.org/2020/11/03/the-new-new-normal-mobility-and-activity-in-the-after-times/

  3. MathiasMEMBER

    Forex charts lol. There is something very familiar about all of this ha ha.

    I’d argue DXY is the chart at the center of all these shenanigans.

    Weekend doesnt begin till 7am ( another 11 hours to go )… we still got to get through FrEaKy FrIdAy lol

  4. Anyone care to offer a prediction for number of new reported NSW cases 5 days from now, say at 11am Wed, +/- 10%?

    Best guess gets a free haircut at the Joh Bailey salon in Double Bay.

    Personally, I think the initial spike will continue for a bit, without being overly pessimistic. My guess is ~35.

  5. migtronixMEMBER

    Do you remember the time
    When we used to skate and DJ?
    We carried a backpack full vinyl
    And popped heel flip 180s
    On the way to the spot
    It mustba been like 3am