Macro Afternoon

See the latest Australian dollar analysis here:

Macro Afternoon

A bullish end to the trading week for Asian stock markets with a rising tide across the region as risk weighs up the rising inflation threat in the US against ongoing property troubles in China. The USD remains quite firm against undollar assets except gold which is continues to consolidate above the $1850USD per ounce level while Bitcoin is basically unchanged at the back to the start of week position just on the $65K level:

Chinese shares are largely unchanged with the Shanghai Composite up just 0.1% going into close, currently at 3537 points while the Hang Seng Index is putting in a scratch session as it tries to hold on to its previous gains just above  the 25000 point level, now at 25246 points. Japanese markets are loving the much lower Yen, with the Nikkei 225 closing more than 1% higher at 29581 points as the USDJPY pair breaks out again, this time matching the previous weekly highs as it tries to get through a very strong resistance level at 114.30 or so:

Australian stocks are also putting in a strong finish with the ASX200 closing 0.8% higher at 7443 points while the Australian dollar is still in depressed mode, barely holding just below the 73 handle here:

Eurostoxx and S&P futures are flatlining here as we head into the London session with the four hourly chart of the S&P500 showing price still hovering just below short term ATR support that had held throughout this buying frenzy, but note that long tail of buying support just above the 4600 point level that will give bulls some hope:

The economic calendar finishes the week with a whimper, a few BOE and ECB speeches, then US Michigan consumer sentiment survey for November.

Latest posts by Chris Becker (see all)


    • Jumping jack flash

      Consider that by 2050 we need 10m median priced houses, that is, if we continue the house price rule of thumb and all that.
      Consider the amounts of debt we will all need to be eligible for to make that a reality!
      Consider what will need to happen to everything else so we can be eligible for that debt.

      Based on that premise alone, then yes, Scomo must be correct and we will all need to be “better off” by that time, regardless of any kind of “net zero”, at least from a debt eligibility point of view.

      But will that actually happen? Can that happen? I don’t know. Its like an irresistible force meets an immovable object kind of thing.

    • The Travelling PhantomMEMBER

      I don’t see how we’ll be better with millions of v!brantss arriving every year till 2050
      Maybe it’ll be a dry continent by then
      And everyone decides to leave

    • E-commerce giant Amazon is in the picture with its own roughly 19% stake in Rivian, which has electric package-delivery vans on its drawing boards. Rivian lost $2 billion in the first half of this year. But the new backing will help it expand manufacturing and the projected launch of an all-electric parcel van by the end of the year could change the financial picture.

    • Hope my mate hasnt suicided. Oh well… at least it wasnt me 🙂

      Last time I spoke to him, he lost all his money.

      Its pretty hard to recover when your over 40.

        • Nah. He works harder in life then me. Never had a penny to his name and barely scrapes through each week paying the rent.

          He’s more moralistic then me too. Probably because he appreciates things more then I do.

          You get a feeling about people. You’ve seen it once. You’ve seen it twice.

          Nothing I can do about it. I’ve got my own life to lead.

          • I dont have ’emotional’ close mates. Im expecting lots of death in the next 17 years. Im distancing myself from everyone ;p I contribute my piece of ‘good will’ but I dont get attached.

            However, yeah… kinda. Grew up as kids together.

            One cant afford to be emotional about whats coming in the next 17 years.

            Im expecting ‘half’ of the people we know in Australia today to be dead in 17 years. Every second Australian you see will be dead. Im planning for it. I help people where I can but there’s only so much I can do. These problems are too big for me. Governments should be solving this stuff and Im not a Government. I can only control my own little patch.

            My focus is the bush. Anything outside of that is just temporary and not going to last in the future I see.

            When you ‘Invest’ in something, it pays to invest in the right things. The system and everything you see today, I dont think will last 17 years. Interest rates at 0% with debt of 220%. Look at whats happened in 3. This wont last another 17.

            Australias dead. Your all the walking dead and most of you dont realise it yet ;p

            He’s just one of many… and Im expecting many more in the next 17 years.

          • A brief study of psychology would probably be better served than where you stuff your earnings or your obvious combative cognitive stance with the female population. I mean the dominate male approach post certain views and esoteric opinions post another reality before it seems to always fall on its face. That you go there is more inductive of your ignorance than the authoritative dialectal you borrow to forward that agenda. Best bit is you never had to use our mind to arrive at any of it, just consume the priors offered too you by men more wiser[tm] than you …

      • reusachtigeMEMBER

        You need to acquire better minded friends before the ills of your current ones rub off on you permanently!

      • In my wild erratic fancy visions come to me of Clancy
        Gone a-droving ‘down the Cooper’ where the Western drovers go;
        As the stock are slowly stringing, Clancy rides behind them singing,
        For the drover’s life has pleasures that the townsfolk never know.

        And the bush hath friends to meet him, and their kindly voices greet him
        In the murmur of the breezes and the river on its bars,
        And he sees the vision splendid of the sunlit plains extended,
        And at night the wond’rous glory of the everlasting stars.

        PS what’s a university cigarette? Is that a c0ck?

    • bubbah buddhaMEMBER

      ‘Careful with that axe Eugene!’ on Live in Pompeii is a cracker….the original film that is, not the sh1te revamped one with space graphics thrown in!

  1. All hands email from the CEO came around yesterday advising that they’re getting legal advice about making the Vax mandatory. It is to laugh. I’ll sure be glad to see the back of the place.

      • The company is apparently 90%-ish vaccinated. If you choose to keep your medical matters to yourself you’re also regarded as unvaxxed and will presumably be terminated. What was once considered normal (doctor-patient privacy)is now something to be punished with loss of livelihood. The hubris of the management, who deem themselves able to direct employees to be injected with drugs, is astounding.

        Even though we’re 90% vaxxed, the vaxxed must be protected from the foul unvaxxed. Which seems to imply that being vaxxed is completely meaningless, but that cognitive dissonance hasn’t made its way to the primitive nerve cluster emulating brains of the people making these silly decisions.

        The bloke who took over as CEO a few years ago has gone completely nuts.

        My first question to him will be an enquiry about the amount of insurance the company has taken out as coverage in the event that I suffer an Adverse Event due to receiving the mandated vaccine. I’m pretty sure the c0ck-swallowing gobbling noise he makes in response will resemble a flock of turkeys being chased by a fox.

          • Jumping jack flash

            It depends on them accepting your evidence as proof, and believe me that is almost impossible. They will accept virtually nothing as proof of a link between vaccine and adverse effect.

        • “The hubris of the management, who deem themselves able to direct employees to be injected with drugs, is astounding”

          If I was a shareholder and management didn’t adopt a mandate I would consider that a black and white failure to meet fiduciary duty and would vote them out.

          So I’m supposed to risk years of higher workers comp premiums + claims when vaxxed workers catch it from unvaxxed + unlimited personal liability for director’s simply to allow a minority – who don’t want to roll up their sleeve and have demonstrated they don’t care about the well being of their coworkers and customers – to continue working?

          • How could you, in a court of law prove that someone caught it from an unvaccinated colleague? A judge wouldn’t even here the case on basic medical advice noting full well that vaccinated or unvaccinated pass the disease around.

            Vaccines are to protect the vaccinated persons health and have 2/10 of f all to do with protecting others.

        • Sadly matey, it’s a question of numbers. When your local ‘noncompliant’ (albeit belligerent) minority is under 10% and over all, country wide it’s about as many renters there are (percentage-wise) what do you think they’re going to do?

          It’s always the case of “you and what army?”

          • Jumping jack flash

            90% was never about “herd immunity” because the vaccines barely protect you, it was always about quashing dissenters.

            At 90% vaxxed they could demand almost anything of the unvaxxed and either the people will demand for it to happen, or simply not care that it happens.

        • If you choose to keep your medical matters to yourself you’re also regarded as unvaxxed and will presumably be terminated. What was once considered normal (doctor-patient privacy)is now something to be punished with loss of livelihood. The hubris of the management, who deem themselves able to direct employees to be injected with drugs, is astounding.

          Employers requiring flu shots (and evidence thereof) has already been deemed ethically, morally, and legally acceptable, so this argument isn’t going to fly,

          • It’s an apt comparison and so I don’t understand why it’s not used more widely.

            Working in health you have to have a panel of vaccinations to be employed – pertussis, TB, hep b etc etc etc and the flu shot if front line I think

            I’m wondering how this is any different ….

  2. Oh Gavin …..

    “Tis a very strange phenomenon that we as a civilization are allocating so much time, effort, energy and CO2 emissions towards an initiative seemingly backed only by a set of loosely-overlapping narratives that nobody can agree on. The value of everyday things like wheat, metals, semiconductors, and even synthetic products like stocks, interest rate swaps and bonds are well understood. We have rational valuation models for these products and there’s a market that purchases these products because of their intrinsic value or exposure they bring to collective human economic activity. Crypto on the other hand is a seemingly intellectually circular product that cannot justify its existence in terms of anything but appeals to the political. Crypto seemingly exists simply to trade more crypto on purely ideological purposes attached only to several seemingly incoherent stories. The multibillion dollar question right now is what type of asset should crypto tokens be considered as. There are four competing narratives on this subject we will discuss.

    There’s the claim the crypto assets are monetary instruments or currencies as their colloquial namesake implies. However as a currency these tokens fail most of the classic economic definitions of money and consequently we see effectively nobody attempting to use crypto tokens as money outside of a small set of vanity projects done purely for political spectacle. Curiously the crypto faithful view the fixed supply of tokens like bitcoin as a desirable feature of a currency since in the Austrian and monetarist dogma they see intervention and inflation as an undesirable feature and quote the Friedman doctrine of “inflation is always and everywhere a monetary phenomenon”.

    However this is one of those “feature vs bug” misreadings of basic economics. The actual desirable property of a currency is one with a variable supply which a central bank can control to target a specific low inflation rate by measuring the purchasing power of the currency with respective to the domestic costs of goods. A controlled inflationary currency with interventionist monetary controls encourages economic growth and stability over time. It remains stable and can be used to collect taxes and reliably value long-term cashflows on products like decade-long mortgages. A national currency’s value is derived from the requirement to pay taxes in the currency, the monopoly on the government’s ability to issue the currency, and the recognition of the courts that it can be used to settle public and private debts with the law stepping in to settle disputes denominated in the currency.

    However deflationary currencies do nothing but encourage hording and without centralised inflation targeting are untethered to the cost of goods and swing around violently. As we see in crypto, they exhibit extremely volatility since no economic activity can be denominated in terms of them. One could never price a thirty year mortgage in bitcoin because its volatility makes it completely unpredictable and no sensible bank could calculate the risk of covering that debt. A world in which Elon Musk can tweet two emojis and your home depreciates 80% in value is a dystopia. Cryptoassets aren’t currencies, because by design they lack the centralised monetary controls to make them stable to use as a medium of exchange for goods and services. There can be no separation of money and state, because the state is the only party that could issue money almost by definition.”

    • “Curiously the crypto faithful view the fixed supply of tokens like bitcoin as a desirable feature of a currency”

      Yes and they also don’t understand that the fixed supply could make bitcoin highly inflationary if demand for it were to collapse because there is no reflux mechanism.

      Even under the gold standard, in theory the CB could buy back back the entire gold stock to support the gold price if there was a collapse in gold demand/inflation.

      • We don’t share somethings in common [neo Keynesian et al], never the lest, the whole crypto thing is some wonky Ideological sales pitch that reminds me of the Marxist Swapo in South Africa … only that they never were Marxist … hay some Warlords used the rhetoric to justify individual sacrifice in uniformed kids to increase their political power.

        Just the idea that this fixes political dysfunction by monetarist beliefs is absurd when the premises has been proven wrong time and time again, yet decent sorts like Gavin get sucked in due to fear, and ultimately set the stage for their own demise.

        • I’m falling asleep trying to read MB. Long week. I’ve only ever dipped my toes in with $BTC. I don’t disagree with your comments above, but if I had more guts I’d risk more in it. Friends mum has made ,$1m this year on crypo. Her other (older brother of my mate) has made $500k.

          I don’t mind a bit of speculation if you’re willing to risk it all, you can have massive upsides.

          Anyway today I notified of a 50% pay bump so I’m closer to what J was earning prior to leaving my last job. So I’m happy about that, maybe I’ll buy a bit more $BTC?

          • Sweeper and I have endlessly pointed out the rather bad consequences of Greshams law … and then when a government has to step in ideologues start vibrating about totalitarianism, worse you get the GFC and everyone not in the .01% gets 40 to 60 percent whiped out, but yeah a few made easy money. Funny how during the Keynes period we did not have these wild speculative financial dramas threatening society and markets.

          • @Gareth, nah just proved my true value to management. I took a lower salary when I came onboard because it was during Covid lockdowns when the jobs market wasn’t good. So I was being underpaid and recently had a couple of recruiters waving salaries under my nose to poach me, so I let my current company know and they are matching it to keep me onboard. Which is good because I am happy in this company.

    • bubbah buddhaMEMBER

      If bitcoin has no intrinsic value then those who own a chunk can just keep pumping the cash in and the value of each 21st millionth will just keep rising and rising…….until ‘sovreign’ governments think..hang on, we dont control this and it falls outside most of our monietry regulation, and all the crims have just put their eggs in one basket?
      The rug will be pulled on the whole thing quicker then a waxing salon in Moroccan bizarre

    • pfh007.comMEMBER

      “.. The actual desirable property of a currency is one with a variable supply which a central bank can control to target a specific low inflation rate by measuring the purchasing power of the currency with respective to the domestic costs of good….”

      Nothing there about building a public monetary system around your precious private banks.

      • Lets not forget what ideological mobs unleashed the shadow sector after plaza, the men that dismissed Born because the rational agent model said, rating agencies that fail their basic responsibility due to income incentives, endemic fraud in loan origination ignored, and dominate economics which had no functioning model of the monetary or financial system yet proclaimed divine authority in its administration. Oops forgot the Greenspan put …. but yeah … banks did everything …. what about Apple now?

          • Said the guy that promotes the idea that banks did it all and a dynamic multivariate problem has one agency driving everything else. Lets say if I had a choice of clipping some wings I would choose private equity over banks in order of acts, because of the damage done to productive capital and voracious looting. Yet you have no other thoughts or engage in any other aspects of PolySci/Economics other than banks.

            Per se Hudson’s works alone make a mockery of your argument.

          • pfh007.comMEMBER

            Misrepresenting my position does not give you an argument.

            But I appreciate that it is all you have got.

  3. Sex workers have long been disapproved of in Thailand. Now they are calling for their billion-dollar industry to be recognised

    Woman are broke.

    Sounds like lots of Thailand girls looking for a husband to give them money right now… but what man wants a ‘disloyal and unfaithful’ wife?

    Sounds like a Government problem as it will be Australias Government Problem soon too.

    If ever the Health Care Industry in Australia implodes ( or the Government runs out of money to fund it ), whatever will happen to all those Ladys that men no longer want? Government Problem? Well, they did create this mess. Good luck fixing it.

    Australias Health Care Industry ( all them poor ladys ) –

    When men say ‘no’ it isnt abuse… its just saying ‘no’.

  4. Hugh PavletichMEMBER

    Keen to dodge covid ? Consider fleeing to sea on a cruise ship ! …

    …. Check out the CDC’s latest information on covid infections within the U.S. cruise industry …

    Cruises reported more than 1,350 covid cases since June, CDC report reveals … Hannah Sampson … The Washington Post

    Cruise News – CDC says cruising safe … Don’s Family Vacations … YouTube

    … and check out the extraordinarily low rates currently available from, in particular, North America …

    Vacations To Go

    … When can we expect the same for Australia and New Zealand ?

  5. Next penny to drop in vaccination debate will be around vaccinating children. It is becoming clear that they should be vaccinated due to the risk of long covid and other long term effects which are starting to become clearer. Ethically it is also wrong imo that the cohort who has no say in the matter isn’t able to get vaccinated.

      • Whats the point of that link?

        Maybe rethink this.
        Oxford University recently released a study (published in the Lancet) showing that the long term effects of covid are far worse than first thought and long covid effects around 1/3 of cases.

        A lot of the effects are neurocognitive. And this is still playing out.
        Politicians are formulating vaccine policy based on the ability of the public health system to deal with the initial respiratory illness, so children are excluded.
        What if it turns out that this short term approach is wrong? that a cohort (who aren’t able to make their own decisions) are now at greater risk of dementia etc. over their lifetime due to vaccine policy? Is this ethical?

          • Sorry but your approaching on anti AGW rhetoric e.g. there is no immunity, at this moment the young are not as vulnerable and data is lacking on the outcomes of scientific trials for long term effects. Other than that you have no knowledge or experience on that matter that would compel anyone to take notice unless they are susceptible to proselytizing.

          • Germany has outperformed the US throughout the pandemic. It also has ~10% more of its total population fully vaccinated, and 💉💉more recently.
            Today Germany had a pandemic record of new cases, nearly 50,000, and highest deaths (220) since May.

            Not a good look for the US.


            I’m not anti vaxx … I’m anti the big corporate pharma driven agenda that vaccinations alone is the best public health solution when one considers their past records, let alone mouthpieces like Fauci. There needs to be a layered approach along with dealing with the aerosol dramas indoors. I mean the one and done mentality actually kicked off or assisted in the last U.S. wave and yet the northern hemisphere is just coming into winter and the holidays that go with it. I personally hope its not bad because lots of capital will have been squandered and most important public trust will go poof and what then?

        • What if it turns out that this short term approach is wrong? that a cohort (who aren’t able to make their own decisions) are now at greater risk of dementia etc. over their lifetime due to vaccine policy? Is this ethical?

          That is highly speculative.

          The problem with your vaccination zealotry is that while it make seem sensible when only one vaccine exists, it will seem ridiculous as many vaccines proliferate.

          If we force children to take anything that any company calls a vaccine and provide a flimsy pretense (such as yours) then our children will soon require multiply jabs PER DAY.

          Of course we must only inject children with drugs that are truly safe, effective and necessary – not merely called a vaccine.

          Sweeper, should we inject children with snake oil? It might prevent long snake bite symptoms in future!!

          • reusachtigeMEMBER

            Yeah so farkn what? Like, really. Have you not quenched your extremely paranoid and sickening fears yet? I thought you had achieved a level of heeling. Looks like you may be regressing into trauma again. Get it fixed bloke!

          • Arthur Schopenhauer

            Bloke! We’re living with Covid. Your sensitivity to the issue betrays your bravado.

            How’s the relations parties going?

          • I don’t see why fear comes into it.
            … excluding self fear of the rugged individual who is terrified of admitting that the ethos that has guided every decision in their life is wrong… so they need to hide behind a parody.

          • reusachtigeMEMBER


            And since a period of time before freedom day I have been having copious amounts of relations and during breaks have been ploughing the lounges and, and I’m not making this up, not a tickle in my throat once. No virus nor bacteria.

            It’s been a great time to party on. And I know no one from the scene hiding away. So where is this Boogie man hey? I kinda want to meet it, maybe again.

            Only the weak gives a sh1t anymore. They’re the ones wearing masks where they don’t have to.

    • These vaccines are so safe and effective, it is miraculous.

      If only the manufacturers of other products could get it so right the very first time.

      Perhaps we should encourage Pfizer to start making other products. Perhaps they could make a toothbrush that never wears out. Or perhaps underwear that never needs changing.

      Sweeper what is your expert opinion on that?

      • Sweeps said at the start of Covid that Dan Andrews is a better leader then Ben Chifley…….I give him credit for going down with the ship.

  6. daniel andrews has lost the fight on the pandemic law. the unvaccinated will be in retail before xmas 2021, not locked down for whole 2022. dan andrews has boxed himself in and stuffed up. it came to my attention that a lot of people think dan was teflon and nothing would stick to him as he could get away with anything. not this time. think this is where it all goes downhill for him from now to the election. the change to pandemic law was so over the top and undemocratic that it has shone a light well and truly on him. my impression is the Victorian bar and law institute have cut him lose. when was the last time you saw legal titans like these two bodies challenge laws the way they have, to me this is unheard of. a normal person would think a leader would be furious at them and be looking to take revenge at the first opportunity, yet these two legal bodies have taken on andrews so makes me think very strongly that he has well and truly overstepped the mark and they are calculating that he will gone at the election. these are just my views. anyway the unvaccinated will be out in retail and doing everything just like the vaccinated pre xmas 2021. cause even if andrews gets law through (which i dont think will happen as either it gets pulled before going to senate, or senate not vote for it) he cannot use it to bash unvaccinated till end 2022 or longer, or even till after grandprix 2022, because victorian bar and law institute can rightly turn around and say told you so, told you dan should not have been given these powers as he has misued them. no medicine/science person will back him up for very long given everyone else around the world doing complete opposite to andrews. too much loss of prestige and career risk for any medical/science person who backs up dan when everyone else in world not doing what dan is doing. human beings do NOT like to be outliers, they like to be in the group and not stick out. political people are especially like this. dan andrews has lost this fight. it no longer matters what anyone says to back up dan andrews, the victorian bar and law institute has said it is terrible law so that is all that will count.

    • reusachtigeMEMBER

      Bloke, you lost me at about line 3 or 4 when my eyes crossed over. I’m not joking. I couldn’t physically read that rubbish. Not mentally but physically. It was farkt.

    • Of course the bar council aren’t going to support Labor.
      Private school types in liberal seats.. and in other news…
      Seriously though why do you guys hate Dan so much. The job he has done getting people vaccinated this year despite the Feds not providing adequate supply has been incredible.
      And his hardline on the unvaxxed will become the new gold standard.
      As in.. not like the Gladys “gold standard” as presented by journalism (before she had to resign) “gold standard”, but the real gold standard adopted by all developed countries.

      • Everyone sorry about format but it gets through whereas if put in paragraphs etc it gets moderated and not get through. Will put in paragraphs this time to test again

        Sweeper. If you know dan directly or indirectly you should strongly consider telling him he backed the wrong horse, he has totally screwed up on this issue. To persist with the pandemic law and jihad on unvaccinated will be his downfall. You will see.

        It is not about hating him. He stuffed up in past and people do not trust him anymore (ie law institute, victorian bar). If he bashes the unvaccinated he deserves what is coming at the election box, you will see, I know I am right.

        The moral indignation divide and conquer strategy won’t work. Labor back benchers in marginal seats will also cop a bashing for Andrews mistakes and lack of mercy on the unvaccinated. But go ahead, bash the unvaccinated, see what happens. As they say, enough is enough, and when someone shows you no mercy don’t back down, make sure they fall. No mercy. Just like that guy that drove around in van to get rid of John Howard. His strategy worked. No mercy

        Dan can back down gracefully now with his tail between his legs and perhaps survive. But to persist with his current position will be his downfall you will see. if people have been terribly hurt by the actions of someone then do not gaslight them because andrews will absolutely live to regret it

        • “Just like that guy that drove around in van to get rid of John Howard”.

          Haha straight away that made me remember that Howard drove around in a “debt truck” in 95 to get rid of Labor. talk about no mercy. He then spent the next 11 years doubling the foreign debt.

          But back to topic..I just don’t see why you think the 92% + will care about the unvaxxed next year when all their problems are self inflicted. An addict has less free will, and the communities compassion for them sadly is pretty low.

          • bill mcharg
            Frustrated by what he viewed as the Federal Government’s lack of action on climate change, he launched a guerilla-style attack against the former Prime Minister John Howard, in his seat of Bennelong. What drove such a conventional man to do such unconventional things?
            as i said. bill mcharg one day he decided he had a gutful of john howard howard lost his seat which is all that mcharg wanted
            no mercy

          • bill mcharg (colliers) is person who drove around in van to get rid of john howard. no mercy shown from what i recall. howard got kicked out. nothing to do with what you are talking about. just shows what people power can achieve and how when people have had enough they take the all or nothing approach. andrews should have backed down, i will love the schadenfraude when he gets booted out. andrews will NOT win against the law institute and victorian bar, you know that even though you will never explicitly agree

          • Crazy.

            Unethical medical scientists create a deadly virus in a lab in China. Not a word is spoken against them.

            But citizens who decline to take an experimental gene therapy peddled by unethical medical scientists from a USA lab are treated as villians.


            Self-inflicted my arse.

          • Classy Sweeper, comparing COVID-unvaccinated people with illegal drug addicts, both groups ostracised by society, and suggesting one more or less worthy of victim blaming than the other. I sometimes wonder if you are trying to outdo Reusa as a caricature of an intellectual-but-idiot squattocratic ‘elite’. If so, bravo.

          • Jumping jack flash

            “.I just don’t see why you think the 92% will care about the unvaxxed next year…”

            Correct. I wonder how far down the rabbit hole we will get?
            If past experience is anything to go by, humans can fall a fair way pretty quickly when everyone gets a taste for blood and jumps onto bandwagons, with full justification for anything they deem necessary, of course.

            You think that “atrocities” of the past were performed without the cheers of the people (who weren’t affected by the decisions)? It was only long after the fact that everyone calmed down and realised what was happening.

    • This is worth an hour of your time. The presenter has been on the money more than he hasn’t over the past few years. The big take away from it, for me anyway, was that the energy production shift and lower carbon dioxide future is economically baked in. It’s already happening. Just look at Denmark and South Australia. The only thing slowing it down is those with soon to be stranded assets doing everything they can to keep getting money. Unfortunately for Australia there’s a lot of money invested in soon to be stranded assets and those who want the cash have direct access to parliament. It’s a pathetic comedy with tragic consequences.

      • Wow, get a load of this call.
        8 years until “Individual Ownership Miles” go to practically zero. Starting now. In 2024 1/3 of all passenger miles will be from “Transport as a Service” or robotaxis.

        That’s explosive change. I have always been in the camp. So it will be interesting to see if a massive societal revolution can play out in front of our eyes over a couple of years.

        • The legislative and insurance issues with automated cars is the big if. A few years ago I was at a presentation being given by people working on the legislation in Australia. They had a finish date that was before now but I haven’t heard anything since. At the same time the final product isn’t quite there yet. Waymo was well in the lead when I saw a comparison between those that were working at it at the same conference. I’m not sure now.

          At least the electric vehicle market is expanding. Here’s a comparison between Tesla, Kia and Hyundai.

          Australia will be years behind the rest of the world on this. We are doing our best to not be attractive to the makers to bring them in. Hopefully when my Suzuki dies its slow and painful there will be a few on the second hand market that I choose from.

          • Ive ‘said it once and I’ll say it again, Australia will emerge into the Renewable age
            as the Fossil Fuel Theme park of the world.
            Tourists will pour into the place to gasp and gape at our refual to resile from Fossil Fuels.
            Morrison is going full Trump, and given the tendancies of the Australian electorate, will probably succeed.

  7. So, I went for a sail after work today too. Just the genoa, had it reefed. Had a bit of trouble with momentum going about (the autotiller protested) so ended up cheating and putting the diesel on as well to get a bit of boat speed.

    Next project – lazy jacks so I can use the main while sailing short handed.

    Also, have now backed the yacht in successfully twice. Google it and you’ll see what a pig of a thing reversing yachts is.

    Going out again tomorrow. Also have a funny little factoid for weekend links.

    • Let me get this right … you popped a genoa before checking conditions and blame on the autotiller, bahahah … all seamen mock you from antiquity …

      • The Travelling PhantomMEMBER

        I wish if you stop this habit of belittling other’s actions or opinions so you seem bigger/smarter…etc It’s some sort of inferiority complex.
        It’s not a good way to behave and shows immense need to show off. I admire a lot of your writings and thoughts but your interpersonal skills and interactions need a good deep review.

        • So much projecting without historical context … anywho … any one that would pop a jen and then complain about performance is only showing their ineptitude, making it sound cool is even worse because it robs history of its skill. FK’meded a jen with a motor on and call it sailing … as good as lufty mains wallowing around the harbor mouth but hay did you see the people on it …

          He needs to earn respect by showing craft and responsibility

          Taking your property for a spin does not make it

          • ErmingtonPlumbingMEMBER

            Lol,…God love ya.
            You just couldn’t resist doubling down there, could ya Skip.
            Im suspecting extremely high functioning autism.
            Am I close?

          • Raced sail boats out of King and L.A. harbor up to 3 times a week, plus big coastal runs like the Firecracker. One of my favorites was mates 24′ challenger in a single make race, so skill is very apparent. Mate Gary grew up on Lasers and was a bearded ginger 6’6″ spider monkey. We raced with only a 2 man crew compared to most running 4 and still won most races. Anywho we never put the motor out, tacked in and out of the slip/harbor, sacrilege. For a good time one should try jibing a spinnaker with jib and main out manually by yourself on the fore deck. Gary being aggressive powered up to soon and the spinnaker pole banged into my shoulder with my back to the mast, then still get it hooked into its track on the mast and then get everything trimmed … good times.

            Fun stuff was taking it out on a Sat morning with a few girl and then running the spinnaker all the way back, laying down on the hatch after a hit from his brass pipe and just watch the top edges of the spinnaker whilst trimming it. There is just so much trimming that is done to a sail considering conditions, boat lengths on a run from fine tuning the whole time. After a tack you have to bring it in 90% quickly, but never over power it or you just dump all the wind, need to gently bring it in that last bit and dial it in.

            In ending there was nothing more sad that seeing some expensive sail boat being driven like a bus, worse motor on with main flapping around for a joy ride and people would say they went sailing … chortle.

    • Is the autotiller anything like the autocucumber?

      Also, Seaman Staines and Cptn Pugwash salute you!

      • Know the guys at the NS yard in south bay L.A. bought lots of sails over the years, at least three sets on hand, blown out for high winds, race and worn race, plus about 5 packed spinnaker turtles. They can even break in new sails in their yard for you so you don’t have to deal with those hours.

        Craziest race boat I crewed on was a 25′ 1/4T ex fresh water dagger board that raced A and B class in fleet … what a rocket …

  8. If anyone likes a bet here’s a take for you.

    The final of the T20 World Cup is being played under lights at Dubai on Sunday. So far in the World Cup, the team batting second at Dubai has won 10 out of 11 games with the only loss being Scotland v NZ (and even then, the Scots got to within a couple of hits).

    So clearly whoever wins the toss will bowl first and likely win. At the moment, you can get all in odds for the toss/win double which are paying 4.20 for NZ and 3.20 for Aust. So if you are a believer in the bat second and win rule, this is free money.