David Llewellyn-Smith


Neo-Nazis duke it out in Aussie Parliament

Via The Australian comes the brawling of Neo-Nazis: In a submission to the senate inquiry into Scott Morrison’s Foreign Relations Bill — which aims to give Canberra a veto over state government and university deals with overseas powers — ambassdor Cheng Jingye also accused other Beijing critics of having “minds of malice”. Addressing the senator


The Strayan Weekly: Melbourne wins “world’s most leavable city” award

Sir Fomo McSpruikerson is an expatriate billionaire and proud proprietor of The Strayan, a vanity media project designed to boost his assets.  Melbourne wins 2020 World’s Most Leaveable City Award Melbourne has been awarded the prestigious “World’s Most Leaveable City” Award for the first time since the early 1990’s. Melbourne shocked a tightly contested field


Australian flash PMI grinds higher

Via Markit: The recovery in the Australian private sector economy gathered momentum during October amid a further easing of containment measures, according to the latest PMI data. Business activity growth accelerated at the start of the fourth quarter, led by the service sector. The upturn in output was accompanied by a further rise in new


Daily iron ore price update (CISA bears)

Iron ore prices for October 22, 2020: Spot down. Paper down. Empty apartment sales have stabilised but that is not enough. They must grow or steel demand will shrink as catch-up growth rolls off: CISA is bearish: That’s only mill inventories. Trader inventories are also immense, combined for easily the highest ever seasonally-adjusted: There should


Australian dollar holds as virus runs amok

DXY was up last night: The Australian dollar was roughly flat: Gold fell: Oil rose: Metals fell: Miners were mixed: EMs stocks stalled: Junk too: US yields backed up some more: Stocks firmed: Wesptac has the wrap: Event Wrap US September home sales surged 9.4% to an annualised 6.54m homes (est. 6.30m) on the back of record low


Borat stings Guliani

I know it’s PR but…well…it’s Borat: The news is appropriate enough: [Rudi] Giuliani went to the hotel room thinking he was being interviewed about the Trump administration’s COVID-19 response. The young woman is flirtatious with him and invites him to the bedroom, which is rigged with hidden cameras. Giuliani then asks for her phone number


I’ve signed Kevin07’s media royal commission petition

Kevin07 has his problems but I can’t see how having a media diversity RC can do anything but good: Reason: Our democracy depends on diverse sources of reliable, accurate and independent news. But media ownership is becoming more concentrated alongside new business models that encourage deliberately polarising and politically manipulated news. We are especially concerned that


Trump closes the gap!

Via RealClear some movement to the incumbent at the headline: Battlegrounds not so much: Betting still all over the joint:   No gap closure at FiveThirtyEight: An embarrassingly Trump worshipping Zero Hedge makes a big deal of registrations: Last week, we published an article detailing a warning from JPMorgan’s top quant Marko Kolanvoci to all those expecting


Chinese desperado gobbles up Aussie wool

It likes to pretend it can hurt our commodities but, in the end, the Chinese paper tiger is desperately short of pretty much everything, via Bloomie: Mill shutdowns in China, along with weaker demand for textiles, had “turbo charged” a downturn in the market earlier in the year, Robert Hermann, managing director at adviser Mecardo,


Why are Swedish second wave deaths so low?

News has a nice Swedish panic feature today: Coronavirus cases have exploded in Sweden as authorities try to keep hold of twin battles – containing the virus and controlling the narrative. The breakaway Nordic nation divided experts by refusing to lock down its citizens when the virus swept through the country earlier this year. But


How long before Depressionberg realises he’s crashed economy?

The Depressionberg Unstimulus will take a little time to wreck the joint. This week’s payrolls plunge is probably early evidence that the radical fiscal tightening embedded in the budget, somehow missed by all and sundry, has already hit the  economy hard: The dramatic plunge in SME payrolls is precisely what we expect as JobKeeper is


Morrison vaccine trialee dies

Via CNBC: AstraZeneca shares turned negative Wednesday after a Brazilian health authority said a volunteer in its coronavirus vaccine study died. The Federal University of Sao Paulo, which is helping coordinate late-stage trials in Brazil, separately said that the volunteer was Brazilian, according to Reuters. Shares of AstraZeneca, a front-runner in the Covid-19 vaccine race, gave


Weak financial confidence another question for whacky Westpac boom

Via Martin North: There was a slight recovery, but nothing which takes our index out of the “gloom” zone. The latest reading is 78.07 still well below the neutral setting. By our affluence segmentation, those mortgage free, and holding market investments improved as markets improved, while those with mortgages and those renting saw little change.


Westpac leading index points to more recession

The new and improved bullish Bill Evans returns this morning: • The six-month annualised growth rate in the WestpacMelbourne Institute Leading Index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, rose from –2.28% in August to –0.48% in September. Momentum continues to show a significant


Can a digital EUR challenge USD reserve?

Corss-posted from FTAlphaville: A European Central Bank research paper on the feasibility of the digital euro has garnered a lot of attention over the past couple of weeks. It would, as the FT’s Martin Sandbu writes here, appear as though the writing is on the wall and the eurozone will launch its own central bank-backed digital currency in


Women turn on dirty Virgin Premier

Via Crikey’s Janine Perret yesterday: Any lingering doubts about Gladys Berejiklian’s judgment were put to rest yesterday after a sleazy interview with shock jock Kyle Sandilands. She obviously has none. Forget her political acumen over corruption allegations, or even her personal life choices — she’s now appears to be lacking even basic common sense as


Australia’s fake left press contracts Murdoch Derangement Syndrome

It is a long-held tradition in independent media to despise the Murdoch Press. I have, myself, pioneered several mastheads at The Diplomat and MB in part designed to attack Murdoch’s legacy. It is true across other independent outfits as well. At Crikey and The Conversation, Murdoch hatred is a religion, for instance. But it is