Gunnamatta

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Sunday Supplement 1 November 2020

‘McIntosh’s saw mill at Echuca, floodtime’ 1887 JW Curtis, Art Gallery of NSW   Macro & Markets ExxonMobil warns of $30bn writedown of shale assets amid energy price slump – Guardian Charting the Global Economy: Growth Surges in U.S., Euro Area – Bloomberg For Amazon, Apple, Facebook and Google business is booming – BBC In

32

Morrison abandons stranded Aussies

Australians offshore There are thousands of Australian citizens currently trapped outside Australia.  The Australian press is currently touting figures around 30 thousand, based on the numbers of people registered with DFAT as requiring help.  However, sources within DFAT are also canvassing the possibility that the numbers may be higher than 50 thousand in both Europe

318

Sunday Supplement: 25 October 2020

‘Wheel tracks’ 1970, David Armfield, Art Gallery of NSW    Macro & Markets New World Disorder: will a US-China cold war and Covid-19 finally kill off the United Nations? – SCMP…the UN is face down in the pool… People Fear a Market Crash More Than They Have in Years – NY Times U.S. antitrust case

372

Sunday Supplement: 18 October 2020

‘Rocks Condemned’ 1965, Reinis Zusters, Art Gallery of NSW   Macro & Markets US, China must continue coronavirus stimulus to help recovery from ‘crisis like no other’, IMF’s Georgieva says – SCMP A new coronavirus fear? New strain seen in swine has potential to jump to humans, US study finds – SCMP Top World Bank

305

Sunday Supplement: 11 October 2020

‘Midday, the Wimmera’ 1949, Arthur Boyd, Art Gallery of NSW   Macro & Markets HSBC calls start of a ‘great rebalancing’ as the global economy enters a flatter stage of the recovery – CNBC Scene is set for a ‘generational opportunity’ in equities, strategist says – CNBC ‘Treasuries on steroids’: U.S. banks’ mortgage bond trading

370

Sunday Supplement: 4 October 2020

‘Gift Bearers’ 1955, Albert Tucker, Art Gallery of NSW   Macro & Markets Low Taxes Are Never Enough to Attract Wealthy Residents – Bloomberg Climate crisis: Is it time to ditch economic growth? – DW Critical Minerals and the New Geopolitics – Project-Syndicate The Danger of Following the Fed – Project-Syndicate, Issing Don’t disregard potential

188

Sunday Supplement: 27 September 2020

La Perouse, 1947, William Dargie, Art Gallery of NSW   Macro & Markets Australia says world needs to know origins of COVID-19 – Reuters FinCEN Files show banks are not serious enough about beating money laundering – ABC What $2tn in possible corrupt activity reveals about Kleptopia – Guardian…the world is awash with corruption proceeds,

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MB Radio: Irresponsibility becomes the new black

Ahead of the anticipated announcement of the Federal Governments trashing of responsible lending laws by moving oversight of financial lending from ASIC to APRA, Gunnamatta spoke with David Llewellyn-Smith and Leith van Onselen about the implications of the move, and how this positions the Australian economy.  The sound is a touch raw, and the discussion

314

Sunday Supplement: 20 September, 2020

‘The Hikers’ 1957, James Cook, Art Gallery of NSW Macro & Markets Worst Shipping Crisis in Decades Puts Lives and Trade at Risk – Bloomberg The next wave of the global recovery could send commodity prices soaring – CNBC Fed’s Kashkari says pandemic aid was also ‘banking bailout’ – Reuters U.S.-China investment flows slide to

141

Sunday Supplement: 13 September 2020

‘Grey day in the ranges’ 1942, Margaret Preston, Art Gallery of NSW    Macro & Markets China would rather see TikTok U.S. close than a forced sale – Reuters Rio Tinto exits seen reverberating across boardrooms – Reuters China debates cutting US access to drugs as hostilities spike – SCMP Global energy transition already well

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Sunday Supplement: 6 September 2020

‘The Pink Heron’ Brett Whiteley, 1969, Art Gallery of NSW   Macro & Markets Anthropologist and Occupy activist David Graeber dies – DW…vale, and thanks for the definitive work of our age ‘bullshit jobs’…. China may ditch US Treasuries as decoupling risk looms: Global Times – SCMP…financialised MAD – people have been pointing out there

186

Sunday Supplement: 30 August 2020

‘Trawool Landscape’ 1928, Tom Roberts, Art Gallery of NSW   Macro & Markets The world must have no more illusions about America’s global leadership – SCMP China could weaponise drug exports to retaliate against US chip restrictions, Beijing adviser says – SCMP Which Is The Better Investment: Big Oil Or Renewables? – OilPrice Powell’s white-collar

373

Weekend Links: 22-23 August 2020

‘Kosciusko’ 1930, Will Ashton, Art Gallery of NSW   Macro & Markets China, US to hold phase one trade deal talks ‘in the coming days’ – SCMP China’s wish to end US dollar dominance is unlikely to come true with no genuine challenger in the wings – SCMP U.S., China differ over plans for Phase

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Sunday Supplement: 16 August 2020

‘Factories on the Yarra’, 1928, Aletta Lewis, Art Gallery of NSW    Macro & Markets Trump orders ByteDance to divest interest in U.S. TikTok operations within 90 days – Reuters A faltering U.S.-China trade deal is now the nations’ strongest link – Reuters Trump admits he’s blocking postal cash to stop mail-in votes – AP

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Weekend Links: 8-9 August 2020

Koki Bay, William Dobell, 1951, Art Gallery of NSW   Macro & Markets Dollar slump lifts U.S. bond returns for foreigners – Reuters Dollar most oversold in 40 years, says Morgan Stanley; exits short position – Reuters This ‘dire’ economic situation ‘deserves to be called a depression — a pandemic depression’ – MarketWatch US, China

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Links 3 August 2020

Macro & Markets US, China both lag badly in industrial robot race – Asia Times Global housing market chaos nowhere near end – Asia Times Central banks’ coronavirus bailouts are distorting the market, but do they even realise it? – SCMP WTO contender Amina Mohamed backs a new rule book in US-China trade war –

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MB Radio: A podcast of gloomy disposition

  With the sheer enormity of the COVID19 pandemic’s economic impact only starting to dawn, David Llewellyn Smith and Leith Van Onselen spoke with Gunnamatta on the major forms the shock has taken through the Australian economy.  Over the course of about 75 minutes (3 parts) they cover the ugly numbers and the dynamics across

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Sunday Supplement: 26 July 2020

‘Sunday Evening’ Russell Drysdale, 1951, Art Gallery of NSW   Macro & Markets No end in sight to the US-China confrontation – DW Apple tax ruling for Ireland shines light on global tax avoidance – DW OK Boomer, We’re Gonna Socialize You – Bloomberg US dollar at risk of sudden collapse? Ex-IMF official warns ‘blow-up

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Sunday Supplement: 19 July 2020

‘Mount Nameless (afternoon)’ 1981, Fred Williams, National Gallery of Victoria   Macro & Markets G20, Heal Thyself – Project-Syndicate, Sachs Coronavirus latest: WHO says health workers account for 10% of global infections – DW World faces staggering jobs challenge, says Microsoft president – BBC…a quarter of a billion jobs equals an awfully large number of

349

Sunday Supplement: 12 July 2020

‘Sheep Country, Burra’, Douglas Dundas, 1950, Art Gallery of NSW   Macro & Markets Trump says U.S.-China relationship is ‘severely damaged,’ phase 2 trade deal not a priority – CNBC WHO says it’s ‘very unlikely’ countries can eradicate the coronavirus right now – CNBC Donald Trump hints lack of interest in a phase two US-China

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Sunday Supplement: 5 July 2020

‘Valley of Tharwa, Murrumbidgee’, J.R. Jackson, 1925, National Gallery of Victoria   Macro & Markets Big Oil’s Nightmare Is Coming True – OilPrice A $10 Trillion Fed Balance Sheet Is Coming – Bloomberg $10bn of precious metals dumped each year in electronic waste, says UN – Guardian Three strikes against the Fed – VoxEU, Buiter

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The ‘Population Ponzi’ – Employment, Migrants, Incomes and Manufacturing & Australia’s lost Economic narrative

In the 1950s and 60s Australia had a policy of supporting manufacturing development in Australia, and its capacity to absorb large numbers migrants largely reflected its industry protection. Given the operation of the then Industrial Relations Commission, those industries tended to have remuneration outcomes which enabled both the migrants coming to Australia, and the pre

236

Sunday Supplement: 28 June 2020

‘Our untidy bush’ Arthur Streeton, 1927, National Gallery of Victoria   Macro & Markets US imposes visa restrictions on Chinese officials over Hong Kong security law – BBC Facebook will label newsworthy posts that break rules as ad boycott widens – Reuters Fed acts to keep banks ‘prudent’ amid virus risks – BBC Communication power

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Sunday Supplement: 21 June 2020

  ‘Cattle on Hillside, Shoalhaven’, Arthur Boyd, 1975, Art Gallery of NSW   Macro & Markets Don’t Blame the Fed for the Robinhood Trading Blitz – Bloomberg New US space strategy targets Russia and China – Deutsche Welle H.O. Warns of ‘Dangerous Phase’ of Pandemic as Outbreaks Widen –  NY Times The Rage Unifying Boomers

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Weekend Links 13-14 June, 2020

Arkaroola Landscape, Elisabeth Cummings, 1994, Art Gallery of NSW   Macro & Markets Sex Pistols-style anarchy threatens world economy – AsiaTimes Eight minutes that could change the world – AsiaTimes What US-China decoupling does and doesn’t mean – AsiaTimes Is Libya the new Syria? – BNE Intellinews How the protests swept the world – New

312

Sunday Supplement: 31 May, 2020

  Albert Tucker, ‘Image of modern evil’, 1945, National Gallery of Victoria     Macro & Markets China debt: bond problems could still resurface in 2020 after defaults amid coronavirus lower than expected – SCMP The Great Depression, coronavirus style – AsiaTimes Donald Trump says the US is ‘terminating’ its relationship with the World Health

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Sunday Supplement: 24 May, 2020

Pivot Suspension, Rupert Boynes, 1966, Art Gallery of NSW   Macro & Markets Leading economist warns of 10 years of depression and debt – BBC (Roubini) China Tests Global Diplomacy and Economy – Bloomberg, El-Erian Central banks are creating ‘fake markets,’ Bank of America strategists say – CNBC Trade conflict in the age of Covid-19

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Sunday Supplement: 17 May 2020

‘Ringbarked Trees with Birds’, Henri Bastin, 1969, Art Gallery of NSW   Macro & Markets Pandemic Bills Are So Big That Only Money-Printing Can Pay Them – Bloomberg US could cut ties with China over coronavirus, ‘save $500 billion’: Trump – DW Thermal coal spot price tumbles 25 per cent, putting pressure on some producers

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Sunday Supplement: 10 May 2020

Street in Old Sydney, 1889, Godfrey Rivers, Art Gallery of NSW   Macro & Markets Keeping Up with the Fed – Project-Syndicate China and US must cooperate to lead world out of coronavirus danger – Nikkei Asian Review Trump Casts Doubt on Future of China Trade Deal After Phone Call – Bloomberg IMF warns of