Macro Afternoon

See the latest Australian dollar analysis here:

Macro Afternoon

Risk sentiment is very mixed here in Asia in response to an equally mixed result overnight as European bourses tread water while the US earnings season and continued inflation concerns keep Wall Street elevated. Locally the latest jobs figures dominated, but didn’t give the Aussie dollar that big a boost, while other currencies remained firm against USD. Bitcoin remains deflated at the $32K level after making a new three week low while gold continues to build on its breakout above the $1800USD per ounce level after brushing aside overhead resistance at the $1810 level:

The Shanghai Composite is up a solid 1% taking back the previous losses to be at 3560 points while the Hang Seng Index is doing the same, rising over 1% to get back above the 28000 point level. Japanese stocks however are going the other way with the Nikkei 225 closing 1% lower at 28279 points as the USDJPY pair pulls back again after its rebound trend fails completely and Yen safe haven buying accelerates:

Australian stocks have fallen the least in response to the jobs report with the ASX200 closing 0.3% lower at 7335 points. Meanwhile the Australian dollar absorbed the numberwang print with aplomb and is trying again to burst through the 75 cent level that has held all week:

Eurostoxx and S&P futures are pulling back again with the four hourly chart of the S&P500 retracing back to the start of week open point around the 4360 point level, with 4350 still providing short term support that has to hold:

The economic calendar continues with a jobs focus, with UK unemployment figures first, then US weekly initial jobless claims.

Latest posts by Chris Becker (see all)

Comments

  1. C'est de la folieMEMBER

     Greg Jericho….

    2/10 for this shoddy piece of work. Go back and review your basic analysis, structure the data accordingly and then write about it.

    Blaming migrants for Australia’s lower wages growth is easy but too simplistic

    Greg Jericho Instead, the RBA might consider the lack of monetary and fiscal stimulus, capped wages growth and reduced worker bargaining power
    https://www.theguardian.com/business/grogonomics/2021/jul/15/blaming-migrants-for-australias-lower-wages-growth-is-easy-but-too-simplistic

    It is regrettably far too easy in Australia to blame migrants. From societal to educational to economic woes – migrants are the easy target.

    Last week the head of the Reserve Bank suggested migration could have caused lower wages growth. It was an unfortunate statement that goes against evidence and ignores the many other factors at play.

    Blaming migrants for our economic woes is not new.

    Yes, the RBA did more than that last week – they directly linked immigration volumes to incomes growth, and noted the near trebling of Net Overseas Migration since the early 2000s is related to incomes growth experienced on the ground, which over the period post the mining boom has been parsimonious.

    There was absolutely nothing ‘unfortunate’ about the statement.  It was a particularly welcome statement insofar as it was at long last a definite acknowledgement relating 2 fundamental and data observable phenomena, which the mainstream Australian media, Australian elites, and Australian economic decisionmakers have avoided acknowledging for the best part of a generation, in the face of increasingly widespread questioning by mainstream Australia about what precisely is the linkage between immigration and the economy, and society within which we live.

    Making that observation is not ‘Blaming migrants’.  Making that observation is posing a question about how Australia grows and the nexus between immigration volumes and income increases.  Stating that making that observation is ‘blaming migrants’ is blowing a dog whistle stating that either you can agree with Jericho or you can not agree with Jericho, but that the moment you not agree with him you are ‘blaming migrants’  – welcome to the domain of the utter hypocrisy of the faux ‘woke’ left which has let go of progressive economic reform, and substituted for it some pastiches of ‘progressive reform’ in the social world, while serving primarily right wing corporate and 1% interests.  Framing that question as ‘Blaming migrants’ reflects about the same degree of intellectual engagement and reasoning skill as dividing society into ‘lifters and leaners’.

    He is right it is not new.  A large part of the reason it is not new is because both sides of Australian politics, the vast bulk of Australian corporate elites and the media and education sector backed commentariat, have smothered every observation of any phenomena relating the linkage between immigration volumes, the national economy, and incomes growth with the word ‘racism’.

    Thank you Greg Jericho for being true to form.

    Essentially a nation’s GDP grows from two sources – output and population. Those who advocate lower migration will point out that over the past decade migration has become more important for economic growth than it was, for example, in the 1990s:

    Greg seems to live in a world where growing GDP is an end in itself.  It may be, but it may not be too.  If the growth reflects greater output from greater intelligence applied to process and results in more of something sold to someone and more wealth being handed back to the society being more intelligent then its great.  If that growth is simply more bums on more seats sitting around doing whatever it was we were doing yesterday, with no additional application of intelligence (or skill) then that ‘growth’ may not be much of an end in itself. If we think of our nation as living almost solely off flogging off its finite natural endowment then doubts start to emerge.

    If those additional bums on seats are in the waiting rooms of our local healthcare infrastructure or on the roads or public transport of our transport infrastructure, and we – the non migrant inhabitants of contemporary Australia – might start to get a whole load more dubious about the marginal utility of GDP growth, as far as us as individuals are concerned. 

    Unfortunately for Greg, this is the experience many Australians have been having for more than a decade, and this has been underpinning the increased enthusiasm for asking questions about immigration volumes and the economy, and the incomes growth that economy provides, which Greg and people like him like to sneer down at with the word ‘racism’.

    But the 1990s were also a period of extremely strong productivity growth – spurred on by the massive computerisation of business operations:

    You mean the more intelligent application of resources and systems Greg, which resulted in more dollars flowing through everyone’s hand…. Yes the 1990s saw a jump in productivity arising from the Hawke Keating era economic reforms in Australia.  It was great – a diversified export base, increased exposure to the global market, a more competitive and flexible Australia – shame the current ALP (or even the government) cant envisage something similar.

    Over the past 15 years – including during the mining boom – productivity has slowed. During this time governments – especially those of the Liberal party – have argued (despite an absence of evidence) that the key to productivity (and thus higher wages) is more labour flexibility.

    We can agree with you, Greg, insofar as the ideological focus on labour market flexibility – in an era of record low levels of industrial disputation and record high levels of contractualised short term or casual employment – is spurious nonsense.   You might also note that over the same period an Australian dollar inflated by the effect of the surge in prices for key export commodities, and the offshore borrowings by Australian banks to effect stupefying mortgage growth, has inflated the price of Australian labour vis a vis that offshore – and shot the gonads off productivity growth.

    But to return to your theme, Greg, that increased labour flexibility that employers always seek has been accessed, to the extent that it can, by the increased numbers of migrants and foreign students. These are increasingly desperate for whatever employment they can get, to sustain themselves in what has become a very expensive country to be in (when seen from offshore). This has resulted (see the agricultural sector, or the restaurant/hospitality world) in reticence by employers to invest in productivity increasing capital investment, and substituting this with some peons from wherever, who hopefully aren’t aware of employment laws, safety standards, or wont be inclined to raise them as factors in their workplace, or to haggle about their pay with those same said employers.  It has worked a treat for more than a decade, and the trebling of Australia’s Net Overseas Migration since 2005 has been hand in glove with that.  

    Which brings us to the issue of migrants and lower wages growth that was given a push last week when the head of the Reserve Bank, Philip Lowe, suggested there was a link between the two.

    Great, let’s get there

    He suggested the hiring of migrants brought in to deal with “specific gaps where workers are in short supply … dilutes the upward pressure on wages in these hotspots”.

    This is not altogether startling, but he then suggested “it is possible that there are spillovers to the rest of the labour market”.

    Well, yeah. Anything is possible, I guess.

    “it is possible that there are spillovers to the rest of the labour market”

    Well if Greg is out there guessing somewhere about spillovers let us guess if maybe the entire Australian market has become a spillover.  Are those guys in the waiting rooms, with kids lining up alongside our schoolkids for places, or on the train, or the freeway coming into town, having any impact whatsoever on our labour market, or even – just putting it out there – could there be a spillover on the real estate market?

    Is guessing racist Greg?

    We can only hope Greg hasnt fainted…..

    The problem is, as Lowe noted earlier in his speech, “immigration adds to both the supply of, and demand for, labour”.

    Essentially migrants increase the supply of people looking for work, but also the demand of things that need people to work to provide. In effect – both taking away and adding to the pressures on wages.

    Nothing in Lowe’s speech suggested that migration had a stronger impact on wages growth going down than up.

    Well interestingly Greg seems to be living in some sort of static world where change doesn’t get much of a look in.  For example could it be possible that an immigration volume, and outcome, for an era of strong investment and market access led productivity growth could have a different outcome with a trebled immigration volume in an era where doing anything in Australia utilising Australian land, energy and labour is a recipe for being profoundly uncompetitive?

    And Greg, the RBA Governor did refer to weak income increases, and heavy levels of immigration.  So even if not explicitly he was implicitly suggesting the immigration volumes Australia has experienced are a factor in our sub par incomes growth over quite a period. He didn’t start goose stepping around the Potsdammer.

    At that point the economist in all of us would like to utter the words ‘let’s measure it, let’s get some data, let’s map the dynamics’  – but in contemporary Australia would find themselves being accused of ‘racism’ for merely having such thoughts. Particularly by people just like you, Greg.  Once again we should thank the RBA governor for helping us to free our questions for public discussion.

    Put simply what we would like to know is whether the volume of immigration over lets say the years since 2005 has had the effect of increasing the labour market tightness, which leads to income increases, or of adding to the supply which leads to flatlining income outcomes.  Of course that would best be done sector by sector, rather than aggregated.

    Unfortunately, when the head of the Reserve Bank talks about migration, nuanced coverage or reaction is not usually the response – and he should know that.

    As such a number of economists were quite dismayed that the head of the central bank should stoke the anti-migration fires – especially, as Australian National University economist Ryan Edwards noted on Twitter, it goes against a vast majority of economic scholarship.

    Most studies suggest migration has a positive impact on wages growth.

    This is because migrants, as was noted in an article published in the Oxford Economic Papers journal in 2020, “perform complementary tasks, rather than substitutable tasks, in the labour market” – ie they don’t take your job, they work with or for you.

    The positive finding is consistent with the landmark study led by ANU economist Robert Breunig in 2016 which found “almost no evidence that outcomes for those born in Australia have been harmed by immigration”.

    A recent update by Gabriela D’Souza found that “wages are positively correlated with proportion of migrants” and “immigration has largely been a positive for incumbent workers”.

    Well we can assume that Greg’s Google works well enough to find some articles positing that immigration doesn’t impact incomes.  Would he acknowledge that someone else might google more than a few pieces positing that heavy immigration volumes certainly do have impacts, in some cases, and in some occupations.  What a number of people would like to know is do immigration volumes have an effect on their income outcomes? 

    It is worth noting that the Oxford paper Greg refers to is about high skill immigration.  Greg also refers to the 2016 Productivity Commission report into the Migrant Intake in Australia, but omitted to identify that this report distinguished between past experiences of immigration and the potential impacts of future immigration, and noted that Australian Net Overseas Migration had climbed markedly in 2005.  That report certainly questioning the value for Australia, and Australians, of continued high levels of immigration if there was insufficient ability to utilise this in the labour market, through demand for skills.  Given that there is ample data suggesting that even skilled migrants tend to be earning less than their local counterparts for doing the same occupation, and that they are often working in occupations which aren’t even utilising their skills the 2016 PC report is rather ominous insofar as it describes potential downsides which start to seem everyday for a lot of Australians.  

    Even a study published in May by the Melbourne Institute which looked at the specific impact on youth workers found that young foreign students increase the competition for work for under 25s, but they also now have to compete with older workers who are staying in their jobs longer.

    Greg’s descent into spurious codswallop comes in the form of a reference to a report titled ‘Is it ‘dog days’ for the young in the Australian labour market? and a ‘look over there and blame them!’ kind of sight gag

    Thanks Greg

    Blaming migrants for lower wages growth is easy but absurdly simplistic.

    And let us just note that the Reserve Bank might be grateful for media and politicians to blame migrants for low wages and inflation, because over the past half a decade it has completely failed to meet its own targets:

    Greg is now on a ‘blame apportionment’ roll.  He is right of course.  The RBA has completely fluffed wages outcomes for a decade or more.  But he doesn’t go within a bulls roar of exculpating heavy immigration volumes, does he.  Blaming immigration may be easy, because it is absurdly simplistic, and it may be both because it is so spectacularly obvious.

    From August 2016 to May 2019, the Reserve Bank’s core inflation measure was always below its 2% to 3% target range and wages growth was never once above the 3% rate Lowe now says is needed to get inflation solidly within that range.

    And what did the Reserve Bank do? Nothing: it kept the cash rate unchanged for a record length of time:

    At the same time the government was reducing the budget deficit – in effect reducing demand in the economy – and all the while was arguing for smaller minimum wage rises and capping public sector wages.

    That rich blame apportionment vein continues, and he does have considerable substance.  The RBA and Government have quite deliberately nailed incomes over a generation.  What Greg fails to be able to come to terms with is that hiking immigration volumes into the stratosphere has come from the same echelon of people, and been part of the same desired outcome. An utterly gelded working Australia.

    And he has cheered that on.

    We also had a collapse of the bargaining system, which reduced enterprise agreements and reduced strikes.

    When the system makes it harder to bargain for wages rises, not surprisingly wages don’t rise as fast:

    And he remains 100% on the money here too.  The collapse of the bargaining system has indeed been a key factor in the nailing of incomes growth to the floor.  But he seems completely oblivious to the fact that the extra labour supply heavy immigration has represented has been force fed into the society experiencing that bargaining collapse and has been a key part of the outcome that has resulted.  And this has prioritised the experience of the migrants over the experience of the existing labour force in Australia – the ‘left’ walking away from the socio economic divide can be mapped right from there.

    And he has cheered that on.

    So yeah I guess it could be migrants … or as Moe Szyslak might say: “Immigrants! I knew it was them, even when it was low productivity, a lack of monetary and fiscal stimulus, capped wages growth and reduced worker bargaining power, I knew it was them!”

    As it is, even with the current lack of migration, there is little sign of inflation getting back above 2% anytime soon:

    Greg is now down to low farce and youtube references.

    Even Philip Lowe told his audience last week that he does not think that will happen until 2024.

    And that is despite in that time migration being clamped down?

    Maybe it wasn’t the migrants after all …

    Maybe Greg has never heard of time lags in observable economic phenomena.

    I used to have a fair bit of time for Greg, but it now must be said he is an utter fraud.

      • C'est de la folieMEMBER

        Sorry old coq, I was in the midst of my day gig intermittently working while fulminating that out.

        It was sort of like one of those mega dumps which leaves one feeling strangely buoyant afterwards.

      • TheRedEconomistMEMBER

        I have now become acquainted with a few new words after reading this:

        parsimonious : not willing to spend money or to give or use a lot of something:

        She’s too parsimonious to heat the house properly.
        I think that politicians are often parsimonious with the (= do not tell the complete) truth.

        Fisking is a term invented by sections of the blogoshpere opposed to the pro-Arab reporting of Robert Fisk. It describes the process of shredding a written argument line-by-line, parsing the meaning and providing counterpoints and is so called following application of the proceedure to Robert Fisk’s articles.

      • Anti-migrant and anti-immigration are such dog whistles. Note once again the prejudice, the denial of counter evidence and the self appointed moral triumphalism. And of course the nonsensical past immigration ergo perpetual immigration hymn and ad homs being bloviated in the replies.

    • RobotSenseiMEMBER

      He must be getting some absolutely awful internal polling numbers to get on Kyle’s show and talk about that like it never happened.

      Like JFC man, why can’t you just be honest for once? For once?

  2. Big moves ahead REFLATION TRADE is about to hit full speed
    Commodities are about to fly up
    Iron ore $300
    AUD 90
    Copper Lumber
    Gold & Silver

    All the big investment houses & even big names. Michael Burry, J Grantham Albert Edwards etc list goes on betting on a DEFLATION crash

    Everyone is on the the DEFLATION TRADE

    Think this could be a blood bath

    Think everyone is short equities, short commodities, long USD, short AUD

    This could get very ugly up

    Watch this space

    Think we are getting ready to EXPLODE HIGHER

    Think deflationists have a very valid argument and valuations over valued we all know that but they are months too early

    Watch this space ….

    Think we are entering the commodity super price boom

    • russbw the idioticMEMBER

      the only issue I have with a bullish aud thesis is that there seems to be a tightening going on and if commodities have peaked. Dec 1999 like maybe. Like 2018 aud top on higher than expected NFP I think, USD yield advantage, then Jerome long way from neutral finishing it with tightening on autopilot. There are similarities. But I am prepared to change quickly if something else changes.

      • Don’t believe FED is tightening (YET)

        Key is the US dollar

        Think the falls continue with a break of 89 and that will push commodities much higher And push the Aussie up towards 90c

        Lower oil will hold US yields down temporarily which weigh on the dollar. Watch oil to it’s starting to look a little soft, we may see those 60s high 50s oil from here too

        The key is DXY and I think it’s heading down again

        If this plays out like I think it might it’s going to be a bloodbath….. everybody is caught on the same side of the boat

        Think will see the Aussie into the 80s pretty soon, market is short AUD

        Watch OIL & DXY ….. the key here

        Think oil may follow the US dollar down

        • russbw the idioticMEMBER

          you’re right about the Fed, they signaled tightening but their purchases are going up and recently 14/7 JP said ‘In addition, we are continuing to increase our holdings of Treasury securities and agency mortgage‑backed securities at least at their current pace until substantial further progress has been made toward our maximum-employment and price-stability goals. These purchases have materially eased financial conditions and are providing substantial support to the economy.’ So it’s certainly hard to fight that. No idea really about oil. It’s a big part of the CRB. For aud, probably a lot to do with yields now, like 2018, what would put yields up now? I guess if our gov pulled out the fiscal bazooka would that help. Fed can’t let rates rise, RBA aren’t so really, growth and inflation is in the US, at least for now. I want that blow-off too, just looking for a reason.

          • I think that the FED meeting back a couple of months ago brought tightening forward from 2024 to 2023 and everyone said it was a policy mistake regardless, the key is the DXY.
            Sentiment is very bullish and trading desks are long dollars…. Let’s watch the USD, my personal view is we test 89 & break down this time

          • russbw the idioticMEMBER

            because I’m an idiot I’m trying shorts now on SPI. I know this has been a mania and TA doesn’t mean much but I have a long term ‘channel’ on SPI all the way back to 2008/2009 which we are hitting up against. Sure it can remain overbought here and creep up the trend line, but it was a top in 2010, 2015 and pre-covid. Probably need a miracle to work and I’ll be broke in a few months time. lol

    • reusachtigeMEMBER

      Which space am I watching bloke? The continual boom times into space? LOLOLOL

    • Jumping jack flash

      Yes! Inflation is where its at, or at least what they’re playing for.
      You dont magick up 8 trillion to not get inflation.

      Especially when there’s no way interest rates can get any lower to keep debt growth chugging along and they can still keep a straight face when they say “economy”.

  3. Dan smashing it in the presser today compared to Gladys. I really disliked him before this pandemic and still do but he looks and acts like a leader with his Covid response. Gladys looks and acts like a politician.

  4. New Zealand multi – level building risks …

    … big lesson (particularly from Christchurch earthquakes) … low and light construction on good ground is essential for home – owners and businesses …

    Earthquake risks discovered in Wellington’s largest office building … Joel MacManus … Stuff NZ

    https://www.stuff.co.nz/dominion-post/news/wellington/125756090/earthquake-risks-discovered-in-wellingtons-largest-office-building

    Wellington City Council considers loan scheme for earthquake-prone buildings … Damien George … Stuff NZ

    https://www.stuff.co.nz/national/123577700/wellington-city-council-considers-loan-scheme-for-earthquakeprone-buildings

    The mystery of basement flooding in new Christchurch CBD buildings… Martin van Beynen … Stuff NZ

    https://www.stuff.co.nz/national/125617941/the-mystery-of-basement-flooding-in-new-christchurch-cbd-buildings

    A Living Hell: Apartment Disasters Documentary … Prime TV NZ

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

  5. Gotta pay Dan for this wedging of the Feds:

    Mr Andrews suggested there might need to be a pro-rata approach given the federal support contemplates a seven-day lockdown threshold.

    “I would have thought five-sevenths of that weekly payment would be a pretty good place to settle.”

    Mr Andrews said he would be “staggered if the Prime Minister and the federal Treasurer want to look Victorians in the eye and say, ‘You were looked down for five days, you weren’t locked down for seven and therefore you are not getting anything.’

    • C'est de la folieMEMBER

      ‘You were looked down for five days, you weren’t locked down for seven and therefore you are not getting anything.’

      That’s pretty much what all social welfare recipients experience. But just imagine being a Liberal politician on less than 5% fronting the electorate with that stance as the most recent backdrop experience of this government. Might not be pretty.

      • RobotSenseiMEMBER

        Based on nothing but my surfing of Twitter for the last week, there is a non-zero chance Victoria goes full-WA at this next federal election. I wonder if Frydenberg is looking at buying a new place in Sydney somewhere and just shuffling in there.

  6. FUDINTHENUDMEMBER

    Glady’s has well and truly screwed this pooch. I was wondering why Gladys was constantly hiding behind the “we’re following the best health advice nonsense while Chant was standing there biting her lip..

    Gladys (on sat) – “What I know is we have some of the best health experts, and not just health experts, best advisers and contributions from the PRIVATE SECTOR and BUSINESS contributing to the New South Wales Government’s ability to make decisions; and I have full confidence in the experts we rely on and they have stood NSW in good stead .”

    No wonder it’s such a fckup.

    ‘The Business of Covid: Gladys Berejiklian hides “the health advice” as pandemic threatens Sydney’

    https://www.michaelwest.com.au/the-business-of-covid-gladys-berejiklian-hides-the-health-advice-as-pandemic-threatens-sydney/

    • FUDINTHENUDMEMBER

      “Meanwhile, the NSW Ministry of Health has persistently stonewalled efforts by Michael West Media’s to gain access to the health advice given by the Chief Health Officer to Premier Berejiklian. Instead, it has preferred to rely on its relationships with corporate media to drive home its public relations message of competent government, indeed even that the people of NSW are entirely to blame for the spread of the virus.

      There has been no mea culpa, no admission that its business-influenced approach to the pandemic has delivered a protracted lockdown, put its citizens at risk and sent thousands of businesses into crisis mode.”

      Good stuff

      • reusachtigeMEMBER

        What a load of commie rubbish. Extreme woke socialism seems to be taking over everywhere. I’m getting sick of all this collectivism and lack of defence of the individual !!

  7. I just went shopping in outer east Melb for the usual quantity of supermarket goods. Didn’t need toilet paper but looked to see what effect the lockdown had in such a short timeframe. Not one case within 40 or km from here for context. Almost cleaned out, we are panic merchants that learn nothing. it sh!ts me.

    • The Travelling Phantom

      what did they do with the stuff they bought last lockdown 3 weeks ago cause its the same people who panic buy every time

    • Mining BoganMEMBER

      I just drove to the gym for training, roads are insanely full. Swearing at idiots in cars then swearing because the gym is closed because it was an exposure site on Monday. Then swearing at all the traffic on the way home.

      Gym still not on the exposure list so must have only just found out. F#cking Gladys.

    • It shts you and plenty others it seems!

      Badoom ch! Thank you thank you I’ll let myself out

    • reusachtigeMEMBER

      The problem is that the General didn’t step up to defend Trump and America’s freedom from the commie conspiracy. Now it is lost. He failed.

    • Erkkk.
      ps what is the point in a word like anosmia if you have to write (the loss of the sense of smell) after it every time you use it? /rant

      • Heh, I’m familiar with the word. I suffered from anosmia for a decade, which appears to have been cured by my recent sinus surgery. Losing your sense of smell isn’t like being blind or deaf, but it sure takes the sheen off things.

    • SnappedUpSavvyMEMBER

      I’ve washed the 2nd 5G Pfizer jab down with a bottle of red and so so so far no symp symp symp symptoms

  8. ErmingtonPlumbingMEMBER

    From the story about the Prime Ministers appearance on the Kyle and Jackie O radio show,

    “Kyle Sandilands admitted today his opinion about the prime minister had changed.

    “I was not a fan of yours from the beginning,” Sandilands said.

    “I didn’t vote for you … but now I regret it.”

    Sandilands said he had watched the PM “handle disaster after disaster” and now he felt “safe with (Morrison) running the joint”.

    “I really gave it to you hard,” Sandilands said

    “But I’ve changed my mind.”

    Was this scripted piece of sycophancy part of a negotiated deal to have the PM go on the Kyle and Jackie O show?
    Like I reckon it was straight up discussed that if the the lowbrow radio show wanted to take the p!ss outa Scotty boy over the unsavoury Engadine Maccas incident then they had to give back something in return.

    In Ballance the whole exchange was a pro LNP/Morrison piece of propaganda. Obviously completely scripted and staged.

    I Wonder how Kyle really felt about having to suck off the PM, live, like he did?
    Isn’t he already filthy rich?
    Why degrade himself by straight up lying to his audience. Half of which will see straight through this set up.

    https://www.news.com.au/entertainment/tv/radio/scott-morrison-addresses-engadine-mcdonalds-rumour-on-kyle-and-jackie-o/news-story/3bad89c6cfb7479eee467fbdc8dbe04a

    • migtronixMEMBER

      He should be in Parliament, you’re saying, to keep the rest of us safe? 🤷‍♂️

    • reusachtigeMEMBER

      Look, I’ve had loads of women beg me to do that but in this guy’s sick case imagine fronting up to the office after this conviction. LOLOLOL.

  9. Update from paramedic bro: day 5 of 14 in HQ in a dingy I is dogbox at Sydney Airport after being exposed to COVID patient is SW Sydney.

    His partner who was not vaccinated has caught it. Prevalent symptoms are high fever, bad cough and shortness of breath with loss of taste and smell. He’s currently at home but may have to go to hospital soon. Bro who is fully vaccinated has tested negative today.

    He’s been talking to his workmates. 4 paramedics in total from Liverpool station have COVID. All not fully vaxxed. Currently 17 in quarantine including my brother. Many others calling in sick because they dont feel safe. Also refusing to do overtime. Resources stretched to the limit. Vaccinated Regional crews being bought in but still not enough. Liverpool hospital is at breaking point. GP clinics not seeing patients due to COVID fears. The whole health system is SW Sydney is stuffed. People waiting 4+ hours to be tested with the stupid rule that anyone in Flemington LGA has to be tested every three days if they work outside the LGA.

    It is a shambles.

    • RobotSenseiMEMBER

      And they’ve only had 18 months to prepare for this day.

      I kid you not: paramedics and other front-line staff will strongly reconsider if they want to do the jobs they’re doing any longer if this goes full-on.

    • why the f are paramedics not fully vaxed by now? Not having a go at the paras but the shambles.

    • The Travelling Phantom

      that is very serious situation that might end in many deaths as no ambulance to attend emergencies
      what a disaster hazzard has managed to create

  10. migtronixMEMBER

    If a course is predefined then discourse isn’t, much like discord isn’t a longing of the heart. So why all the discord over discourse?

  11. migtronixMEMBER

    Can we say “it’s coming home” for the delta in #hellbourne?

    Asking for a pom

  12. Alison Pennington on QandA was very impressive tonight. Also surprised Steve Price backed Dan Andrews. First time i didn’t throw a brick through the tv with this show.

  13. People everywhere have COVID, it’ll be widespread through the community, most who get it don’t even know they have it. it’ll be everywhere. The consequences of all these lockdowns will become very obvious later this year
    Unemployment will most likeky blow out to 30 to 50% or in the crisis, but they’ll find a way to fudge the numbers. In 2008 McDonald’s and many other companies were days away from not being able to psy staff.
    The unwind & subsequent financial crisis will be so fast and so big, no one will even talk about COVID
    This is shaping up to be Australia’s worst ever financial crisis in history & economic downturn in 2021, worse than we had. In 1930s
    It’s going to be a very hard few years
    Let’s just hope we aren’t lockdowns, people will be so angry

    • The Travelling Phantom

      It’s keeping you up in the night…it must be horrendous economic crisis that’ll unfold