Weekend Links, August 28-29th 2021

Hi guys, since our usual host T is busy this weekend I’ll be stepping in to supply the links and kick start this weekend’s discussions. I’ve kept it short because frankly I don’t read as much as most people so this is all I could find for the week.

Some great links this week from Unz.com:

Ron Unz – The Covid Debate: to Vaxx or Not to Vaxx – Interesting, significant discussion in the comments

The Saker – Will Afghanistan Turn Out to be US Imperialism’s “Last Gleaming”?

The always excellent Linh Dinh – Heavenly, Hellish Cape Town – Travel guides that pull no punches and are absolutely worth reading

Fred Reed – Despair in the Empire of Graveyards

Brigid Delaney – The pandemic is creating a nation of dobbers – and all Australians reap the consequences -The Guardian (bear with me, I know the Guardian is shit)

Reddit – Local news station in Australia hires actor to pretend to be in Hospital. Look up the actresses name or news site for proof – Yeah, totally not creepy at all

Gilbert Berdine – Why Lockdowns Are Doomed to Fail – Quadrant

Jeffrey Anderson – Do Masks Work? A Review of the Evidence – Great counter-compilation of evidence demonstrating the ineffectiveness of masking, from City Journal

Justin Murphy – A Theory of Verbal Inflation – Inflating the money supply and telling verbal lies about social phenomena are structurally equivalent activities

Tyler Cowen – How did China end up with so many people? – Marginal Revolution

Emil O. W. Kirkegaard – “There’s been no biological change in humans in 40,000 or 50,000 years.” – A brief reminder of how far we’ve come since biologist ideologue Steven Jay Gould triumphantly announced this ‘fact’ 21 years ago

BBC – Nirvana sued by the baby from Nevermind’s album cover

I don’t even read Australian financial/real estate based news anymore because it is a waste of time to do so.

Images/Memes:

Anthropology in the 1950s — Wasn’t much different from now, was it?

U.S place names vs Australian place names – which are sillier?
I find memes like this funnier than I probably should
A new low for a society monomaniacally obsessed with zero-covid at the expense of anything else
Animal morph of the week

Video content for the week:

‘Imagined Authority’ hassled by NSW police for being outside for more than one hour
Marty Focker secretly records the Victoria Police admitting their dodgy tactics towards protesters
Covid mandate protests in NYC thanks to the always excellent and always uncensored Ruptly
The French yet again provide a lesson to Australians in how to do civil disobedience correctly – unvaccinated people protesting outside mostly empty cafes and bars by sitting beside them eating and enjoying themselves
Guide for experts – do not attempt this at home

Hitler shares his opinions on modern media and contemporary society on live German t.v – from hilarious comedy ‘Look Who’s Back’ (strongly recommended)

I’m sorry this couldn’t have been longer but I’m lazy and not as clued into things as I used to be! Enjoy your weekend and make sure to get plenty of exercised – unmasked – of course.

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Gouda

Great job on the links. Love the image, freaky as fuck.

Gouda

So that’s where it’s from. That’s been on my list of movies to watch for a while.

Dictator David

Not sure about medium as a source? But an interesting take on the Doherty report and definitely not what the pollies are telling us.

I think NSW and Vic have got themselves into a pickle they can’t get out off. Can’t open up because hospitals are already stretched and can’t lockdown for the time needed to eliminate the virus now it’s well and truly out. I reckon it’s going to be more of the current policies we’ve got and the virus will have to run it’s natural course.

https://medium.com/@matt_11659/australian-public-fed-nonsense-as-country-heads-to-irreversible-decision-99350b80125c

Ramjet

It seems everyone in the academic sector is doing modelling. You can engineer any outcome you want by playing with the assumptions. In any which case, most countries opened up with vaccination rates around these levels, so they couldn’t keep us locked down with 80% vaccination rate.

Vic and NSW got themselves into this by the mass immigration program with all the new people packed together. QLD and SA managed to eliminate the delta variant and lower density living was probably a big driver. Probably what also helps is a more homogeneous population too.

Stewie

Matt Barrie is the chap who started Freelancer or whatever – I’ve generally found him to be quite an independent thinker and smart and successful enough to at least listen to his opinion.

I think anyone who is reasonably smart and good with numbers can pull apart statistics reasonably well or at least determine if something is a snow job – which is what the Doherty report appears to be. IMHO Barrie correctly identifies what the report is actually being set up to be – a scape goat, to provide plausible deniability and political cover for politicians.

A year ago when I was posting at MB ascribed the hope for a vaccine as essentially ‘cargo cult’ thinking – basically an all in bet on ‘technology saving us’. Frankly despite the claims in the media I still essentially see us being in the same position – the only change now is that the vaccines are likely to assist in reducing the death rates in the most vulnerable, up until the point our health services are overwhelmed, after which it increasingly appears to make little difference.

At best the vaccines appear to be flattening the curve a little and protecting the most vulnerable in the interim, but my question is it really that much of a saving given the unknown unknowns associated with it at this stage plus all the enormous financial and social costs were imposing, especially considering the fact that the prospect of our health services being overwhelmed still remains.

This has been my criticism right from the start. Instead of preparing for what is inevitably coming, by opening my ICU beds, buying more ventilators, etc, the Govts and in a large part aided by a hysterical media, went for an all in bet on vaccines.

Last edited 1 month ago by Stewie
Ramjet

A report being a scapegoat. Yep, happens time and time again. Get consultants in to engineer the outcome you are after.
I wasn’t be critical at Matt Barrie just more the process that there are rival reports out there to suit other people’s agendas which pretty much infer we need to lockdown forever. All leadership has been contracted out.
Once everyone has had their chance for a jab, there should be no more lockdowns given current settings. If people don’t want it, so be it.

Peachy

DD, that article was a bit TLDR for me in my current state but just eyeballing some of the charts that the bloke had extracted certainly makes it look very suss & very much like the interventions are being modelled to have about jack-shit-worth of effect.

am I reading right?

Dictator David

Yes it’s a long read. I did 3/4. I suppose my take away was that the current data can be skewed to suit whoevers agenda. I’m not sure the pollies have interpreted right or maybe they don’t want to? The government is working on 80% vaccinated and 180 days. But if we use Israel as a case study for the vaccinated then it’s not going to turn out how Glady B and Scomo are telling us…

The hospitals are stretched and letting it rip they will completely crumble resulting in younger people dying from not only covid but also unrelated things. If hospitals and ICU are full and you crash your car or have a heart attack then you might not get the care you need… Seems like the infrastructure they put in originally has all been taken away i.e. trade centre 4000 beds in Melbourne. They should be putting that in now. It’s going to be hard to put the genie back in the bottle now…

I was on the side of protect the vulnerable, boost hospitals and let it rip (to build antibody immunity). Now I’m not so sure. Like I said it’s a rock and a hard place. If Gladys opens up then their hospitals will be swamped and young people will die from unrelated things. The virus won’t follow their rules and will run its natural course.

Peachy

The hospitals are stretched and letting it rip they will completely crumble resulting in younger people dying from not only covid but also unrelated things. 

so are they really full? Some claim they’re empty-ish….

I was on the side of protect the vulnerable, boost hospitals and let it rip (to build antibody immunity). Now I’m not so sure. Like I said it’s a rock and a hard place. If Gladys opens up then their hospitals will be swamped and young people will die from unrelated things. The virus won’t follow their rules and will run its natural course.

but that’s the thing, isn’t it….? The thing that “always has been”….:

unless there is a properly effective treatment/cure or vaccine, the virus won’t follow any rules.

and it will basically be devil-take-the-hindmost. The government can intervene and reshuffle the pack such that the “hindmost” cohort is a bit different to what it might have been with no intervention, but they can’t change the overall outcome much.

like I read on that stupid site the other day “there are no solutions, only trade offs”.

what do you reckon?

Dictator David

Well every time someone pro-vaccine, pro-lockdown I always bring up the lever experiment… How many 12 year olds are they prepared to sacrifice to save x many 90 year olds?

I can tell you from a currently non-covid affected area, hospitals are stretched to the limit. This isn’t uncommon during winter and flu season but people are tired and any further filling of the cup makes me worried about the younger non-covid patient…

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Peachy

bring up the lever experiment… How many 12 year olds are they prepared to sacrifice to save x many 90 year olds?

Exactly.

from a currently non-covid affected area, hospitals are stretched to the limit. This isn’t uncommon during winter and flu season but people are tired 

thanks. With that in mind, perhaps the “plan” is to try to keep the brakes on as best they can for the rest of winter/flu season, then let it go?

Dictator David

Yep pretty much. I think we are going to see a lot of talk and not much action while the state governments let things take their natural course. Can’t open up and short of welding peoples doors shut can’t get much tighter. nsw maybe will get tighter but the way Glady B is talking I don’t see it.

Peachy

In a normal year, When does winter flu season typically end, from a hospital occupancy POV?

Dictator David

I like data but off the top of my head and experience I’d say end of Sept/early Nov. When covid first hit they were seeing people scared and not wanting to go to hospital for anything. Now they are seeing the opposite, people are anxious and scared and want to go to hospital for any little thing.

I don’t blame them, the messages between state govt and federal govt are confusing. Not to mention the fear mongering on MSM like posted in the above weekend links.

Dictator David

My biggest frustration is that governments have had 2 years to prepare for this. Their bungles let it get out of hotel quarantine but then they blame the mum and dad workers in western Sydney for all the failings…

Peachy

government is obviously full of a bunch of weak cunts.

when they had it in a box, early on, (and then again more recently) they could’ve sealed the borders tighter than a guppy’s asshole. Nobody gets in. Not Nicole Kidman not that reality tv woman, not even the fucking Pope.

this would’ve let the non-residents wear the lions share of the cost, while we would’ve had all the time inthe works to make proper plans and get ready.

Dictator David

Or they could have worked towards and done a open air quarantine i.e. howard springs vs hotel quarantine. Hotel quarantine failed from the start so they could have made changes from there.

Agent 47

I’m looking forward to those camps and seeing what kind of wall the inmates will be told to face.

Ramjet

Why is Israel the standard? Israel only got to 67% fully vaxxed, so why aren’t we looking at other places to base our data? The issue is we will get around 80% as 10-15% don’t want the jab. Without forcing people like China it will hit a level that we have to make a decision about opening up internally or forever having lockdowns.

The90kwbeast

This is a real concern.

The current run rate for getting to even 60% double vax assumes the current run rate holds going forward yet in every other country from about 40-50% it slows down dramatically. Unsure why and interested in others ideas why?

DjenkA

I’ll pull the numbers out of my R-se for illustration.

1.
33% will be dafties whom follow orders of gov’ts, religiously trust and appeal to authority “scientific” papers like gospel truth, you know, the mrSmithy type.
That mob will roll up the sleeves at the early onset of news.com.au recommendation

2.
next 33% will be borderline mob, those that always sit in the middle, awaiting to see where the majority will go and are very likely to follow the type 1. mob, except those that lean towards type 3 which will be harder to motivate (e.g. will need major bribe and late in the cycle

3.
last (or first) 33% will think for themselves, will look carefully into double speak, fear peddling, have a healthy dose of cynicism and always scratches to see what is below the surface. Those are unlikely to be guinea pigs

4.
1% will be nut jobs blaming it on 5G, on Bill Gates more than 51%, on Bezos more than 90% etc

now adjust the percents as per culture…
group 3 and 4 are unlikely to participate hysteria until the gunpoint. This explains the taper-off.

Last edited 1 month ago by DjenkA
bjw678

And to add to that, there is enough resistance to getting vaxxed in medical staff that they have had to make it mandatory.
Think about the implications of that one for a while.

The90kwbeast

Well 1 & 2 in your groupings is what probably gets you to the 50%-60 double vax mark.

I think the #3 bucket could prove sticky and will require significant carrots or sticks, likely the latter, to get vaccinated. In Sydney we probably aren’t far away from seeing vaccine passports kick off to assist with that.

All in all, the estimates given on this website which the government also seem to be referring to, assume current run rates hold and I just don’t see it. It’s going to slow down after that 50% mark and drag out for another couple of months past those estimates I reckon to get to 70% and absolutely 80%. No other country is at 80% yet…
Well be doing rather well to hit 70% by Xmas.

https://covidlive.com.au/vaccinations

Reus's Large MEMBER

You forgot the jimmy’s who will not vax because it will show up their visa overstay / illegal immigration status, these are the same jimmy’s that will share a vax passport amongst 30 of them like they do with drivers licenses.

The90kwbeast

I’ve said it here before but I suspect this is a huge issue which is being snuffed out by the media and explains why the virus will never be eliminated

DjenkA

fair point, i am just not sure they count those in percentage projections if not jabbed. So in essence they serve a purpose.

Coming

Got my jab today

decided to go with AZ

keep me in your prayers thx

Agent 47

People are capitulating. Why?

Coming

NSW health announced it was compulsory by September 30 for all healthcare workers

id have to go to Supreme Court to fight it

which would be illogical since it only has a 0.001% chance of killing me
(like the virus)

Peachy

Go to Supreme Court ….or wait for someone else to go to Supreme Court, no?

Coming

Good luck by September 30

id be out of work for months or years

plus we will probably lose given the current state of Australia

Last edited 1 month ago by Coming
Peachy

I’d have thought that if it gets taken to court, court would first order a halt to the mandatory jabs, while it considers legality…

Coming

The jabs aren’t mandatory

just that you’d be sacked / deaccredited by hospitals and healthcare providers if you don’t get it

then you’d have to sue for wrongful dismissal/restraint of trade

that’s why it’s all by nsw govt under guise of a public health order rather than actual law

it becomes a legal clusterfuck which was the exact intention
Everyone can point fingers at each other, and no one is sure what jurisdiction it would even fall under

Last edited 1 month ago by Coming
Chinese Astroturfer

I’m free in ways you aren’t and never will.

Your employer owns your soul.

Coming

Cretin

I can quit any time I like and be poor like you

I have choices available that you do not

Chinese Astroturfer

Nah I’m financially secure. No-one can hurt me. Early on I decided I never wanted to be under someone’s thumb or beholden to anyone.

I have agency, you don’t.

If you don’t have your injection three times per year now they’ll destroy the life you created.

That’s no way to live.

Agent 47

Agree this is my hill particularly what’s coming next. I’m quite prepared to be fired, no jobs worth your health and/or dignity and it’s not the end of the world.

Chinese Astroturfer

I’m looking at this virus in the context of the rest of my life which is how long this virus will be around.

It might burn out in a few years and we’re back to ‘normal’, but there is absolutely no indication that it will happen. Theoretically it might, but as we know the ‘experts’ have been wrong time and and again since January 2020.

In 5, 10, 20 years I’ll be quite content I never had Pfizer v1.0 or AZ v1.0 injected into me 3x per year.

People are going to have to make choices about their lifestyle going forward if they want to make it to old age.

COVID is nothing in the scheme of things to a healthy person, but still 20x more deadly than the flu so I still want to avoid it without being a hermit.

The virus has only existed on the planet for less than two years and released into the wild only in January last year, so we know virtually nothing about this virus and what it does to people who catch it 10 years down the track.

Think how little we knew about HIV or GRID 40 years ago, how brutal to the body the early AIDS drugs were.

50 years down the track we’ll all laugh and roll our eyes at how little they knew in 2021 about COVID, laugh at all the blunt tool solutions, releasing the leaky vaccines to the public and getting them into people 3x per year.

I’ll pick and choose my battles. Travelling the world to see something before I die is a good way to use up some of those COVID ‘tickets’ (while being sensible with the usual precautions ie. avoiding crowded indoor bars/restaurants, travelling during the middle of summer), but going to a concert to watch some old hacks on a retirement tour or go to a bar to get pissed on a Saturday night seems like a really stupid way to use up your COVID ‘tickets’.

Last edited 1 month ago by Chinese Astroturfer
Stewie

The nanobots have you now…

EFAD34EB-79F6-4158-87D1-DC85A0B0315D.jpeg
Last edited 1 month ago by Stewie
ThePensum

you’re kidding right? the courts over the last 18 months have just been playing the popular (and politicians’) tune

Peachy

I haven’t been paying attention to that aspect, actually.

so the judges have been pussycats?

emusplatt

and the high court have gone pro

Chinese Astroturfer

Wage slave

robert2013

I’m expecting my employer to make vaccination mandatory in the not too distant future.

Also, being in WA, if I want to visit family over east I now have to be jabbed if I want to come back.

I searched for vaccine injury libility today. Make sure you keep good records of your daily condition before and after vax. If you suffer bad stuff from vaccine and it’s because they mandadated it, they are liabilty for worker’s comp.

However, I’m not sure if that applies to workers under gov public health orders, like you.

Either way, sorry dude. I will hold out as long as I can, but expect to be forced into it one way or another. On the bright side, the vaccines will allow all holder of ponzi scheme assets (houses, some stocks) to enjoy bumper profits as the mass immigration self immolation program resumes.

Freddy

I have visions of Coming working in a Palliative Care ward depriving patients of food and pain killers, and tormenting them with “you are going to die anyway”.

Winning@Failing

Lol wtf?! You now believe in the virus and believe it’s worthy of an experimental vaccine?

T

Hey man – really sorry to hear you got forced into it. Sometimes you gotta do things for the family and those you care about – sucks massively.

Hope there are no major side effects and you and family are ok.

Coming

Thanks but its really not that bad

I could have retired years ago, but I feel society will be even more stratified by wealth in the future so I need to make sure my children don’t end up with the plebs

I think the antivaxxers have all lost the plot a little bit – you’re as bad as the Covid doomers on MB

the vaccines aren’t a 5G bill gates conspiracy that will sterilise the earths population
they’re just unnecessary for young and healthy people (and don’t prevent transmission)

but my risk from the vaccine and the virus are fairly equivalent – taking it or not taking it shifts my risk by 0.0001% in one direction or the other

certainly not worth losing millions of dollars over

I face higher risks from having an RTA driving to work, or occupational exposure to HIVh/hepatitis C

my main objection to forced vaccination is not that I think they are going to kill me , but that it’s illogical and unnecessary and government overreach

ive never been anti-vax. In fact a few days ago I wrote an article on this website recommending it to anyone over 50

im more anti lockdown, anti-mandate/passport, and pro-freedom

Seems like rational people are in very short supply at the moment

T

Did you notice how I simply commiserated without adding in any value judgments.

Lesson learned, next time I’ll simply chuckle to myself as you people suffer and die. Thank you for your input.

LSWCHP

Thanks Staggie, nice work, much appreciated.

Stewie

Yeah – good collection of articles Stags.

The ‘Look whose back’ link reminded me of an out-take that I saw of the Nuremburg Trials where Goering objected to the mistranslation of the german phrase that lead to the creation of the popularised “Final Solution” to the Jewish problem.

Apparently it he said the correct translation should have been the “Total Solution” referring to their plan to expel the Jews from Europe, much in the same alternative narrative supported by the supposed Haavara agreement… or perhaps that was just Goering arguing over semantics.

There are some out of context comments from Benjamin Netanyahu edited into the historical footage which should be ignored, as I haven’t seen the full statement it was taken from and so am always very suspicious of such edits

https://twitter.com/MarcoLavoie11/status/1429076034771640321

Also, I don’t speak German and can’t vouche for the translation, but while apparently the trial accepted Goerings request, the press and those that control the narrative around our history continued to use their preferred words and descriptions.

Last edited 1 month ago by Stewie
Winning@Failing

There’s been doubt about effectiveness of masks all along. What I don’t get is why you cunts don’t like em and get on board?

So much easier to blend into the background and be anonymous with masks.

BobNotBob

And safer to steal from the autocheckout. Remember, wear a cap too and pay cash. And don’t check in.

Winning@Failing

Fuck the cap man, hoodie always, even in qld summer lol

BobNotBob

True the hoodie shields the face a bit more, but it makes you look like the sort of person who’s about to steal. Nice enough clothes and cap and mask and a few friendly words to the usher and you’re golden!

emusplatt

man there be granny smith avocados to burn

BobNotBob

One high value, plausible deniability item per small shop. You should be getting at least a 50% discount on the total.
Fuck Coles and Woolies. And especially fuck them with their ads pretending to be the farmer’s best mate. That duopoly has been screwing farmers for years in pure ezfka style.

Peachy

One high value, plausible deniability item per small shop. You should be getting at least a 50% discount on the total.

let’s wargame this.

mathematically, this would only really work on small shops, though, right?

say a $15-$20 item is about where colesworth items top out, so you’re doing a $40 shop :/

also the expensive items are mostly crap that you don’t really need like batteries…

Where’s the sweet spot?

BobNotBob

Yep only small shops, which is all i do at woolies and coles. There are some $40 items. And yes only so many of them you need. But they also do have some nice expensive deli foods. And mostly it’s just for fun.

Chinese Astroturfer

Never stolen anything on self checkout.

BobNotBob

Almost everyone i know has some autocheckout discount method. It’s a fun question to ask to a group of people in a social setting.

DjenkA

in my experience, I get to be told that I am stupid for trying to protect jobs of the shop attendants by not using the self checkouts when I cannot outright invoice for my assistance. Peak stupidity is when staff is rolling their eyes when I insist on assisted checkout.

Winning@Failing

Exactly this.

DjenkA

It is not stealing, it is invoicing for services rendered.

Agent 47

Truck driving strike is in from tonight. They went ahead early.

See how this plays out.

Peachy

How long is the strike for?

Gouda

This afternoon a truckie patient advised me to stock up on groceries for a couple of weeks.

Ramjet

I was advised the same by my father who knows a few truckies.

Peachy

Incidentally, now is potentially a fucking great time for the boys to strike.

they can’t really bring subcontinental drivers in and the publicity will be strong as people sit at home and surf the web & get outraged.

From Lowe’s perspective, this COULD actually be an opportunity to spark his precious inflation. Truckers get a raise; because this raise is very public, shopkeepers can hike prices (“it’s the transport costs, guv’!”) and – just maybe – this rolls through the EZFKA more broadly.

Winning@Failing

Over 75% of all the truckies I deal with daily are subcontinentals on labour hire. All trucking companies have been following the trend of casualisation and driving down wages making the job only “desirable” to jimmies with no choice.

As long as all you cunts keep ordering uber eats and voting LNP and the pov cunts buy the cheap stuff from the duopoly that are ruining the country because the pov cunts have no choice this country will just keep EZKFA’ing away.

Peachy

As long as all you cunts keep ordering uber eats and voting LNP and the pov cunts buy the cheap stuff from the duopoly that are ruining the country because the pov cunts have no choice this country will just keep EZKFA’ing away

yep – it’s stitched up pretty tight.

but that’s why NOW might be a special time to pick at the seams… not a slam dunk by any rate, but a higher-percentage play than usual.

Gouda

I may be a cunt, but I’ve never ordered from Uber eats.

Would rather support my local takeaways directly than have a third of the cost go to the delivery.

T

The subcontinentals are all avoiding the vax and keeping a low profile. Barely any ubers about in Sydney at least.

Peachy

Not a lot of ubers, but a lot of utes. More than would seem plausible under the 25% rule.

Ramjet

You can’t bring in subcontinental drivers?
Victoria is going to import 350 medical staff as they made a heap do 14 days self isolation. If truckies go on strike, I am sure it will be seen as a critical skills shortage and they will be brought in. It is the EZFKA way.

Peachy

I think that the place hasn’t yet progressed to the level where bringing in foreign strike-breakers —during a pandemic that has locked everyone in their houses—, rather than paying the blokes an extra $3/hour, will fly. Not yet.

but I could be wrong.

bjw678

i’d say you are wrong. It won’t be publicised as that, but it could easily happen. Essential food delivery, emergency situation, exceptional circumstances. The sheeple will just accept it like everything else.

Peachy

It’s possible – I’d be glad to be proven wrong.

That can be an extra reason why I want this strike to happen – to run the experiment.

Winning@Failing

There’s already enough underempmoyed jimmies truck drivers on labourhire contracts who are inducted into the big companies to cover most driver shortages.

This is one of those overlap things. The Toll guys are striking over this very issue (amongst others), not just their pay but also how Toll and all the other big firms are already using labourhire to undercut them. They don’t need to import truckies, they’re already here. They don’t need stike breakers, they already have extra “employees”, they don’t need to pay more, the jimmies that are here are already underemployed and underpaid and desperate.

I worry about your naivety. We’ve pretty much lost all these battles that you lust for, they won’t come to pass. We already lost

Peachy

I’m pretty naive about the transport industry, that’s true.

I actually know a few senior blokes at toll, but never talk shop to them.

Winning@Failing

I’m not just talking transport, I’m talking industrial relations across the board. Howard fucked this country and so have successive govts for a whole host of reasons.

The main issue though is the Australian public let them get away with it with selfish, short sighted voting. We are fucked and all I see here and MB and everywhere else is words of wank about what should happen or what would be good to see happen. Fuckin lost cause, y’all are either too dumb or too selfish, ya get what ya deserve and ya fuck over the rest who are too dumb to think things through for themselves.

bjw678

So what are you doing to fix it? Bitchin here?

Winning@Failing

Lol I’ve been voting and campaigning for workers rights movements my whole adult life ya spastic cunt. I push union membership on every job site I walk onto. I vote with my wallet. I give food to homeless cunts. I punch the fuck out of arseholes. I agitate and resist everywhere that I can.

It’s mostly ineffective because weak willed faggits like you abound and can’t be helped because you refuse to be helped or recognise their own plight because most delude themselves into thinking they aren’t part of the great unwashed.

bjw678

You know how you say we waste our time doing stuff that is not effective, how’s that worked out for you? you braindead moron.

Peachy

The main issue though is the Australian public let them get away with it with selfish, short sighted voting. We are fucked and all I see here and MB and everywhere else is words of wank about what should happen or what would be good to see happen. 

things I would like to see happen are mostly for the fun/havoc value. Jsut so that we are clear.

Winning@Failing

Well you’re a fucking idiot then.

Freddy

It is a bipartisan screw over that started before Howard. It was Hawke/Keating that privatised education (HECS), deregulated and privatised the banks (CBA), privatised the pension system (Superannuation), free trade agreements to crush wages.

John Hewson was recently interviewed on The Jolly Swagman podcast and was reminiscing about the good old days when Labor and Liberal “worked together to get things done”.

Winning@Failing

And where the fuck would Australia be if we didn’t modernise our economy in the age of globalisation? Just because Hawke/Keating ushered us into the current era, doesn’t mean we had to go the route we went, Howard fucked us. The people that voted for Howard fucked us. Stop letting Howard/the LNP and their fucked supporters off the hook.

Cunts were and are fucked and all these dumb cunts keep voting for them. My shit posting today has been interrupted all day because internet is down because of Turnbull/LNP, that’s not Labor’s fault.

Freddy

Fuck me. You have been drinking the Globalisation koolaid. Australia is one of the few countries in the world that has all the resources for a self-sustaining economy. Minerals, energy, productive soil for food.

Instead of reading LVO repeatedly complain about farmers exploiting workers. How about understanding that Globalisation has forced our farmers to compete with o/s farms exploiting labour. If we pissed it off we could grow our own top quality produce and using aussie labour.

Then of course we get the usual “but food prices will be higher”, “car prices will be higher”, without the understanding that in EZFKA unspent disposable income ends up servicing mortgage debt.

Last edited 1 month ago by Freddy
Peachy

Fuck me. You have been drinking the Globalisation koolaid. Australia is one of the few countries in the world that has all the resources for a self-sustaining economy. Minerals, energy, productive soil for food.

importing more and more people is the strategy to break that potential self-reliance for good and to cement the globalisation as something irreversible.

understanding that in EZFKA unspent disposable income ends up servicing mortgage debt.

exactly right!

Stewie

100% this is EZFKA in a nutshell – it is also one of the things I disagree with both Leith and DLS on. If we want to raise wages, including farm wages then we need to be prepared to pay more for food.

It isn’t a problem that can be solved by simply buying a new tractor or allowing all the smaller farms to be bought out by corporate farms – people in the city need to pay more.

But in EZFKA all resources have to be applied to only one industry – real estate. Higher food prices threatens interest serviceability, so with all the embedded real estate costs injected at every stage of the production process there are only two options – squeeze wages of those working in those industries or import the food.

That is where we are.

emusplatt

there’s the inflation Lowe keeps blathering about

Stewie

Their inflation “measurements” are invalid when they deliberately exclude the most important asset in most families lives while hedonically adjusting price measurements for technology advances.

Most of the Govt headline economic statistics are now memenic focal points. Rather than be a true reflection of what economic measurement that they are supposedly meant to notionally represent, they’re instead carefully constructed lies and obfuscations.

They are there now less to keep the public informed and define some true measurement of some aspect of our economy or society, and more to provide a feeding frenzy for the financial media to feast on and be use as batons to force the elites financial and taxation policies onto the wider public.

Last edited 1 month ago by Stewie
Peachy

You’re in solid polemical form today Stew.

Freddy

Asset prices are directly influenced by interest rates. I agree with the RBA that they should be excluded from CPI calculation. Mortgage repayments even worse because they are positively correlated with interest rates. Imagine a feedback loop of rising mortgage repayments due to higher interest rates resulting in even higher interest rates.

I do agree they obfuscate everything else such as substituting high grade food (e.g. high grade cuts of meat) with cheaper lower grade food.

Peachy

Asset prices are directly influenced by interest rates.

that’s right, almost to the point of tautology (as asset price = yield stream / discount rate)

I agree with the RBA that they should be excluded from CPI calculation. 

this is probably true, from the point of view of financial mathematics, etc.

The real issue is that the RBA runs on the basis (assumption?) that asset prices don’t matter.

but in reality, asset prices matter a hell of a lot, as they impact distributional outcomes (quickly) and also (though more slowly) the general shape of the economy*

economy
by this we mean the physical factors of production – what factories/refineries/etc exist and what people are around to run them

Mortgage repayments even worse because they are positively correlated with interest rates. Imagine a feedback loop of rising mortgage repayments due to higher interest rates resulting in even higher interest rates.

this last bit I take to be more of a question of morals. Do we prefer good things happen for bad reasons, or that bad things happen for good reasons.

excluding asset (land) prices from CPI gives us the situation we have now. Super expensive prices and a generation or two that is systemically asset-less and insecure. But we have theoretical purity. Bad things for good reasons.

including asset (land) prices in CPI would have enabled “higher prices to be the cure for higher prices”. And we’d have lower prices, but an approach that is not 100% theoretically sound. Good things for bad reasons.

Last edited 1 month ago by Peachy
Freddy

All valid points. As I previously mentioned Debelle let is slip that the RBA wants higher house prices to stimulate building more houses, they have also previously mentioned a Wealth Effect policy. All idiotic policies that contradict their primary objective of financial stability.

Peachy

The Debelle narrative thing smells a bit of post-hoc rationalisation and rewriting history.

Obviously the RBA brass isn’t so naive as not to know that lower interest rates push prices up. But I don’t think that even in the holiest-of-holies/secretest-of-secret internal RBA memos, is there anything that says “we recommend that the OCR is lowered by 100bps, in order primarily to increase land prices by 15-20% and trigger wealth-effect spending”.

I even suspect that the RBA brass may have thought there is some truth to the MB thesis that “borrowers are tapped out” and thought that impact of low rates on land prices would be minor (esp during pandemic). This could be part of the miscalculation they are trying to paper over.

bjw678

All idiotic policies that contradict their primary objective of financial stability.

That depends entirely on what financial stability actually means to you. It’s a fairly abstract concept.
At a first pass I’d say the RBA takes it to mean a strong stable banking/financial sector more than anything else.

Peachy

Yes.

Let’s not forget about the chess game that has played out/evolved over time.

1.Back in the day, the banks were boring old banks doing boring banking business and the central banks was the central banks.

2. The central bank did what it saw fit and the banks reacted.

3. Then the banks were deregulated and started “innovating”

4. The banks figured out that they could front-run the RBA

5. RBA worked out that the banks would front run it and started making policy decisions based on the expectations that the banks would front-run

6. The banks worked out that the RBA now expected them to front-run and that the RBA’s actions would be dictated by what the banks signalled they would do

…now, by the time you get to item 6, you have a complete inversion of the power relationship, thr identity of the passanger and the driver. Now the banks put on a pantomime in order to get the RBA to act a particular way… and usually the RBA does.

Freddy

“abstract” would be a bit like Debelle saying “I don’t know how much debt is too much debt”. It is an attempted obfuscation of risk:

  • 90s. 20% deposits and limited to 30% disposable income to service debt
  • 2010s. 10% deposit and unlimited use of disposable income to service debts.

Clearly there is more risk today than there was in the 90s. It is not an abstract concept. It can be quantified.

bjw678

RIsk is not the same thing as financial stability.
I would say that the system is “more stable” now than it was in the 90’s. Any Risk can simply be printed away…

The problem as always is you and the RBA disagree on what stability actually means, because it IS a vague statement.

Stewie

Ignoring the impact of interest rates on asset prices is half the reason why we are were we are today.

Freddy

Not disagreeing with you. I am just pointing out the other side of it. It is dangerous to completely ignore asset prices, it is also dangerous to directly link asset prices to CPI.

Peachy

Yes

Peachy

things I disagree with both Leith and DLS on. If we want to raise wages, including farm wages then we need to be prepared to pay more for food. 

It isn’t a problem that can be solved by simply buying a new tractor or allowing all the smaller farms to be bought out by corporate farms – people in the city need to pay more.

couldn’t agree more.

at the end of the day, solving problems comes at a price. If you’re not prepared to pay a price, what you’ll get is a non-solution. Might be hiding the problem, denying the problem, moving the problem somewhere else or otherwise reshuffling the deck. But not a solution.

zooming out, it becomes apparent that you likely can’t import third-world products without also importing third-world living conditions (over time).

robert2013

Yep. Consumer prices would be higher. House prices would be much cheaper.

emusplatt

yep hawke/keating cuntoxen started this…”the shoe is designed to pinch!”

Peachy

cuntoxen

very good!

Stewie

They also coined the “Leverage off existing Infrastructure” phrase, that seems to have fallen by the wayside.

Peachy

So you reckon that the 24hr strike was just a warmup?

Winning@Failing

Two different things happening at same time.

Friday 24hr strike is legitimate, protected industrial action where TWU represents Toll and associated workers with strike against EBA haggling breakdown with management.

This other alleged strike that I have seen or heard zero evidence of actually occuring is a bunch of numpty truckies that think they can shut down the country to protest covid lockdown/vaxx/whatever dumb cunts support.

Interesting to see how each thing develops and potentially overlaps….

Peachy

thanks for filling in those details.

the union protected action seems a bit mild.

Here’s hoping the other rando hotheads get their stuff together and cause some major havoc!

Winning@Failing

You say that now, when you can’t get your tampons and Chardonnay you’ll change your tune

Peachy

😂

true, but – No pain, no gain.

bjw678

the union protected action seems a bit mild.

Why would you expect a government approved action to be anything else?

Peachy

That’s kind of what I was going for 🙂

Chinese Astroturfer

They will fall into line and get their 3x per year COVID injections. They’ll sell their souls for an extra few bucks an hour.

Old mate Coming didn’t even get more money he’s just worried what it might do to his career, what his peers will think of him.

Winning@Failing

The fact that coming got maxxvaxxed has me in stitches laughing. I’m getting the vaxx cause I’m a scared fat cunt. If I wasn’t, no way would I let my employmemt status influence these sorts of decisions.

It’s the dead horse I’ve been flogging here for ages though – most of these cunts are all talk. The majority of the entire world will comply, sheeple, scaredys like me and then the worst kind – all talk faggits like coming that when it comes to the crunch kow tow. All that cunts’ endless shit posting on covid for 18 months to then just go and get vaxxed willingly lololololol, possibly coming really does have a PhD, but still hasn’t helped the cunt earn enough to be free so what was the point?

Suck a bag of dicks coming ya wage slaving faggit.

Chinese Astroturfer

Total capitulation in the end. Didn’t even wait until his September 30 deadline.

Probably so he didn’t have to have uncomfortable conversations with his peers where they might think he’s an anti-vaxxer lol.

Coming

Ah yeah I’ll give up my massive income , in order to avoid a jab with a 0.001% chance of serious injury

fuck you guys are stupid

have even less idea how to assess risk than the government

im at greater risk being in an accident driving to and from work every day

Last edited 1 month ago by Coming
Winning@Failing

If your income is that massive why can’t you afford not to work? Lol

Chinese Astroturfer

I take the numbers with a grain of salt I’ve never heard of so many formerly healthy people suddenly having serious health problems after getting vaccinated.

What are the effects from taking one of the leaky vaccines for 3x per year for 5 years. Could you tell me.

robert2013

I’ve still got 3kgs to lose to get to healthy BMI. Bring it.

Gouda

Good stuff. Managed to lose a touch over 10kg last time I went on a low carb/high fat/protein diet. Best discovery was finding Kewpie mayo which makes pretty much all vegetables edible.

Stewie

On the film recommendations for the weekend ahead I’ll get in ahead of djenka and will recommend John Carpenter’s’They Live’ perhaps one of the most under-rated subversive movies ever made. The only reason it hasn’t been outright banned us because the atrocious acting by WWW champion rowdy Ronny Piper acts as a natural repellent that stops it being any real threat beyond creepy cult followings.

Anyhow “They Live” is available now on Foxtel under the sci-fi section.

https://www.indiewire.com/2014/10/john-carpenters-they-live-as-a-subversive-masterpiece-125566/

23303BC6-807E-4E08-AAB5-BF6CA2AB0395.jpeg
Chinese Astroturfer

I love Foxtel. Don’t get Leitho started on it though.

DjenkA

too late,
I have it on good authority that Dav’o Lewd’o Smirk contributes to traffic here in significant percentage and the other soft chap, me thinks Bleat Von Onslaught’em is here at least once a day.

DjenkA

I was to touch Carpenter, in the next few weekends. But thanks for taking the lead.
Quite appropriate movie.

They Live (1983)

Most will remember Carpenter for the two “Escape from…’s” movies, Big toruble in Little China or horrors like The Fog and Halloween but one of the earlier movies made by Carpenter that is excellent 1.5hrs of rolling human nature horror is:

Assault on Precinct 13 (1976)
I’ve seen this one in my youth, followed by the movie The Fog, in a remote country barn on a b/w valve tv with rounded screen during a fool moon.

Carpenter’s movies are simple, effective and I find them timeless because they are not following any trends in film making. The simple technique becomes the special effect as the movie ages. He incites inner fears, plays with inner sense of security and doses mistery, science and supernatural in quantities to make them just believable.

DjenkA

and in the far corner (for far-out movies), tonight we have:

Indagine su un cittadino al di sopra di ogni sospetto (1970) [ITA]
(Investigation of a Citizen Above Suspicion) requires login
This is a story of corruption of system and how far can it be pushed before it turns on people above suspicion. A true EZFKA story of modern days.

DjenkA

and in tv shows…

The Third Day (2020) [GBR]

Sorry, only paid access on YT and HBO, perhaps your local or foreign stream.
As psychothrillermisteryhorror all in one, with a story that tries to lose the grip here and there but it can be prone to binge watching.
Interesting genre, never in the trend.

In the other news, Eric Burdon Declares WAR. It is just over 50yrs ago and the music is reminiscent of why 60’s and 70’s were the most creative musical years (hint: therapeutic Tetrahydrocannabinol and Lysergic acid diethylamide). This album is a musical story, no songs per-se

Stewie

Yup – he has made a great collection of classic horror movies. Perhaps the one I like of his the most would have to be “The Thing” with Kurt Russel. It was truly horrifying back in the day, and full of honestly bizarre nightmarish creations. It also lead to a very underrated (imho) pre-quel/sequel that will filmed in 2017. His influence can be widely seen in many films today, and practically all his films have generated sequels (by other directors as the production studios cash in) or remakes.

robert2013

The only sequel to The Thing is the early 2000s computer game (was great at the time, haven’t played it since 2002 though. The highlights were edited into a movie here: https://youtu.be/1VNIIxn71DI . Better played than watched IMO…and freely available since it’s pretty much abandonware.

Stewie

My apologies I got the year wrong – it was filmed in 2011. For some reason it was a commercial flop – I quite enjoyed it and recommend watching it back to back with the original first and the prequel second (only because the special effects have improved a little and may overshadow the original a little). Basically set up as the prequal to the original and ties into and explains many of the events in the original.

https://en.wikipedia.org/wiki/The_Thing_(2011_film)

Although a little aged that computer game version looks like it was pretty brutal in the day.

Last edited 1 month ago by Stewie
robert2013

I checked it out and I had already seen it. I enjoyed it but it was essentially the same film.

robert2013

Don’t forget The Thing!
Oops – just scrolled down and saw that Stewie mentioned it.

Last edited 1 month ago by robert2013
robert2013

Thanks for the unz links…haven’t been there for a while. Found this while I was there:

“Western governments have rarely carried out large scale and detailed analyses of the benefits and costs of immigration with country-of-origin comparisons.

it is a welcome surprise to find that researchers in one country have been able to gather extensive official data from Statistics Netherlands which allows costs and benefits to be studied carefully in the long term, with results tabulated according to reasons for immigration, and by country of origin.

Those coming to take up a job generate a positive net contribution of, on average, €125,000 ($152,500) per immigrant.

Those coming to study cost €75,000 ($91,500) per immigrant.

Those entering for “family formation” or “family reunification” cost €275,000 ($335,500) per immigrant. (Get one immigrant, then get their marriage partner, then get other family members including elderly parents).”

https://www.unz.com/jthompson/costly-immigration/

Since the left thinks unz.com is far right (and hence not worth reading or reasoning with or about), this will be ignored. Pass it on.

Ramjet

Western governments have undertaken the analysis, it has been ignored by the governments or by interest groups or the multicult cult. The productivity commission has done it here and yet it keeps getting ignored. I remember them doing the parental visa and the net present value is an enormous cost, yet it didn’t stop the retard Greens wanting to bring every applicant into Australia on a permanent visa.

Agent 47

I don’t think there will be much tourism anywhere to be honest but I take your point.

bjw678

I’m sure the chinese will still come…
except for that pesky trade war thingy.

T

If you look historically, generally after periods of globalization the world reverts to a simpler place, with migration essentially impossible for the average person.

Good chance that is going to happen worldwide I think. If that is the case, we are looking at a generation or two where travelling abroad is basically impossible.

Think the period after WW2 up to say the mid 90’s – unless you were in a few specific fields, pretty hard to pick up and change country. Expat packages were few and far between.

bjw678

The French yet again provide a lesson to Australians in how to do civil disobedience correctly – unvaccinated people protesting outside mostly empty cafes and bars by sitting beside them eating and enjoying themselves

Do that in melbourne and the teargas and rubber bullets will be out for you.
Try to do it in sydney and you won’t even get past the roadblocks and public transport blockades.

Agent 47

France has a fcuk you culture, we have a fuck me culture.

Protestors here do need to Change tactics though, because a once monthly March down the centre of town is old beans.

Ramjet

The French do the best protests. Sometimes they don’t even march and instead drop truckloads of manure on the steps of city hall.

Chinese Astroturfer

Aussies wouldn’t sit on a picnic rug in the middle of the street someone they know might see them.

T

Really nice links mate – big fan. Watched some of the police videos super depressing.

Not sure the cops understand what they are doing and will have to deal with in coming years, community trust has gone through the floor.

Stewie

For those who are interested as an update to my BSV post from a week or so ago on Crypto Fights:

U.K. iGaming giant Entain (LSE:ENT), the owner of prominent betting brands like Ladbrokes, has acquired esports betting firm Unikrn for an undisclosed sum.

In 2020, Unikrn teamed up with FYX Gaming, the developers of CryptoFights, to launch new and innovative iGaming products. This includes offering CryptoFights itself in the Unikrn virtual market.

https://coingeek.com/betting-giant-entain-acquires-fyx-gaming-strategic-partner-unikrn/

(Trigger Warning: The article starts off objective, but does descend into some partisian beliefs and hype toward the end)

To save on time and emotional trauma as a FYI summary; Entain is one of the biggest sports betting companies in the world, for example as mentioned owning Ladbroke betting which I’m sure many people have heard of.

Unikrn offers real money and token-based wagering on competitive video game tournaments, otherwise known as esports. Basically their model allows players (and others) to bet on themselves in a matched game against other players.

Most people don’t realise just how much money is in eSports. Top prize at Wimbledon is around $3m AUD. Top prize in the Epic Fortnite pool prize was for 2021 is currently around $30m AUD, up on 2020’s $25m AUD but down from 2019’s $42m odd.

Unikrn basically tap this market and one of the game technologies they’ve invested in has been Cryptofights, which they developed with the FYX Gaming Team who came up with cryptofights, which is still currently in beta and managing to generate around 2m transactions a day without impacting the transaction price.

Obviously there are many other competing eSports betting technologies, and Entain was interested in Unikrn for far more than simply their exposure to Cryptofights, but it is at least promising if you are a follower of BSV tech, like myself, that it has the potential to at least raise the tech to the eyeballs of serious players in the online gambling market – which was one of the primary use cases Bitcoin was originally developed for.

Cryptofights as an app now dominates transaction generation on BSV at transaction levels that would cripple the ETH network.

https://trends.cash/ranking/

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Last edited 1 month ago by Stewie
Gouda

Leaks coming thick and fast. Gladys BinChicken clearly not happy about ScuntMo.

https://www.smh.com.au/national/even-berejiklian-is-fed-up-with-the-pm-who-she-privately-regards-as-an-evil-bully-20210827-p58mde.html

Yet even between the two Sydneysiders, relations are strained. Berejiklian is a Liberal team player who keeps her grievances about Morrison private. But, in private, she is scathing. The NSW Premier has told Liberal colleagues she’d have preferred that Peter Dutton had won the last federal leadership ballot – she’d rather be dealing with Dutton because Morrison is so unpleasant, she’s said. She’s described the PM as a “bully”.

Berejiklian went so far as to tell a colleague that Morrison’s behaviour was “evil”. She and many of her colleagues are still angry at the fact that Morrison’s press office phoned political reporters in a background effort to discredit her, so-called “briefing against her”, over the vaccine rollout a few weeks ago. They accuse Morrison’s staff of doing the same during the bushfires of two years ago: “Usually he briefs against her for doing her job with some measure of competence,” said one of the Premier’s loyalists. “He doesn’t like the contrast – he makes himself look big by trying to make others look small.”

Among Berejiklian’s inner circle, it’s considered a joke to call Morrison “the Prime Minister for NSW”. They consider Morrison to be the Prime Minister for Morrison and no one else.

emusplatt

why so late ..tear the cunt down..bush-fires debacle would’ve done it…stupid Armenian has Stockholm syndrome

DjenkA

She is as Aussie as the next person.
All those foreigners were ejected from politics few years ago mate, only pure Aussies left

Ramjet

Went outside today and noticed a dozen cyclists sitting together on a seat outside a coffee who rode there together as a peloton. Yet kids can’t play in the playground nor can they be cared for by vaccinated grandparents. When is this whole charade of being based on science going to be called out?

Gouda

Cyclists being entitled jerks is nothing new :p

Peachy

So, what exactly do you ride, Gouda?

Gouda

Just your bog standard ICE car that gets me from A to B. Luckily not into cars, as anything too fancy in a hospital carpark seems to attract attention from jealous morons.

bjw678

Just ignore the rules like the cyclists.

Ramjet

Seems to be what everyone is doing

Ramjet

They have been banning playgrounds and granny babysitting and telling us that half of the active cases are for people under 30. But if the vaccination schedule prioritised older people, then shouldn’t this be expected?

Coming

24 hours post first AZ dose and I feel like dogshit

aching muscles, tired , chills

paracetamol helped a little bit

I’d have to imagine that catching the actual virus would likely have been not as bad

https://www.linkedin.com/posts/peter-fam-9b724315a_law-health-healthcare-activity-6836776224044527616-ikpt

heres some human rights lawyer saying that all these public health orders are technically illegal and unenforceable

of course that’s irrelevant in the fascist EZFKA state – the courts would undoubtedly rule against the people

Winning@Failing

Just retire with all that cash you made from exploiting your skills and PhD, otherwise shut the fuck up

Chinese Astroturfer

You’ll need another one in 12 weeks, then every 4 months from then on out.

Otherwise you will be considered not vaccinated.

Make sure to get your children injected too then more people participating in the experiment the better for patient, self sufficient people like me.

Coming

Hos mad

Peachy

I hope you survive, coming.

get on the panadol a bit more.

Gouda

I know it can last a couple of days with the AZ. Most people I know with bad side effects used a paracetmol/ibuprofen combo.

The90kwbeast

Should be better after 48 hours

Andy

Why’d you end up choosing AZ Coming? Just because it was quicker and easier to get?

Coming

safer, more effective

according to latest research

DjenkA

I’m also contemplating my doomsday and between “Sodom and Gomorrah” I’d choose Deep Vein Thrombosis simply because it seems that is the extent of the unknown (unlike mRNA)

Ramjet

Latest research is showing it is better than Pfizer. Poetic justice for those boomers who shunned AZ and stuffed up the vaccine rollout.

Andy

Could you point me in the direction of this research you’re referring to please?

bjw678

A good watch about the path to totalitarianism.
We seem to be a long way along it…

https://www.youtube.com/watch?v=09maaUaRT4M
MASS PSYCHOSIS – How an Entire Population Becomes MENTALLY ILL

Last edited 1 month ago by bjw678
Stewie

A lot of truth in that video. Again it only stresses the point to me that to avoid mass psychosis is to avoid the means by which it is communicated or transferred – the mainstream and social media.

Gouda

Lol, EZFKA never change.

https://www.news.com.au/finance/real-estate/buying/uni-student-scored-luxury-melbourne-home-by-working-for-18hr/news-story/d4e4a3d6594f41c7a2da68e4d7b72703

A Melbourne man is defying all expectations by purchasing a luxury home for himself despite only being in his second year of university. Adam Feng, 21, bought a “higher end” luxury apartment from the Sky Garden complex in the eastern Melbourne suburb of Glen Waverley back in May. The RMIT student managed to nab the $510,000 one-bedroom flat by working at a cafe for just $18 an hour.

But even with $50,000 in savings, that wasn’t enough to make up the 20 per cent deposit required to secure a bank loan – standing at $102,000. Mr Feng’s parents fronted the rest – but he has since paid it all back.

Ramjet

$18 an hour is less than the minimum wage. He is gloating that he is being ripped off?
A $510k one bedder in Glen Waverley is actually being ripped off. For slightly more you could get a two bedder in the inner city.
But agree, this is EZFKA at its finest. Being ripped off at work and then being ripped off buying an apartment.
I want a follow up story in three years when he has to pay $100k to fix all of the defects.

Chinese Astroturfer

$18 per hour might be what it is for a junior casual worker.

Reus's Large MEMBER

LOL paid it all back, sure thing, more like they let him stay at home rent free and paid all his bills so he could save up the money for a deposit and then gave him some more to be able to buy the place.

The price of RE in this country is retarded, one day when the credit runs out this whole mess is going to collapse. When that when is, is going to be the hardest thing to predict as there are so many vested interests in keeping the band playing while the ship is sinking.

Stewie

The credit will never run out – the one thing the will ensure that there is plenty of is chains to bind us with.

DjenkA

A nice balance between devaluation of currency and interest rates can make the loan pay in perpetuum without any gain in real terms.
Nominally, house prices are unlikely to go down and highly likely go up but in real terms just need to stay where they are. Next step is just have a short controlled crisis here and there to make sure enough periodic repossessions but not to splat the faecal matter on perceptions and stories of rags-to-riches like above.

Stewie

One you realise that “Saving the System” is really about “Keeping us Enslaved by interest” you realise that nothing will ever be allowed to fail.

DjenkA

The RMIT student managed to nab the $510,000 one-bedroom flat by working at a cafe for just $18 an hour.

50000/182.5 days = ~$274/day

$274/$21 = 13hrs/day, 7day a week for 6 months
or
$274/$18 = 15+hrs/day, 7 days a week for 6 months

we can assume median 14hrs work days for 7 days a week
It is possible that he ate and pooped in those cafe’s. A fair assumption would be that in best case scenario it took at least 1hr to commute home and between cafe’s and then 1 more hour for unwinding after excessive hours which leaves only 8hr for sleep, bonking, talking to parents etc.
I understand someone in their youth can work long hours and sleep as little as 6-8hrs but for that to go for 6 months is simply impossible.

Note:
on top of all of the above, assumption was made that there were $0 expenses on anything else, like electricity, rent, food, clothes, shoes etc.

DjenkA

Mr Feng’s insane work schedule – 56 hours a week – was largely possible thanks to Covid-19.

He had 20 hours of class, but since it was all online, he was able to fit it around his cafe jobs.

LOL
56hrs week is just 8hrs days or total ~ $27000 possibility to earn at $18-$21/hr

Chinese Astroturfer

He’s supposed to be a student as well. Need to count hours for that.

Chinese Astroturfer

He bought a $500k unit making $1,100 per week from two part time jobs if you ignore the part where where his parents gifted him $52k and went guarantor for him.

Apart from the most crucial elements in getting the loan across the line, he did it on his own…

A normal kid with parents that didn’t have $52k lying around and couldn’t go guarantor would have had to work and save for at least double the amount of time, and probably contribute to an equal share of the household bills therefore making it much longer to save the requisite amount. Even then not having parents willing to go guarantor would mean they would almost certinaly not get a 400k loan.

If it wasn’t a gift then the $52k wouldn’t have counted as genuine savings by the lender. So they lied on the loan application.

I know banks are fairly loose these days but I’m not sure about lending $400k to a cafe worker on $20 per hour who was also “loaned” $52k by his parents. Especially with both jobs being in industries vulnerable to being closed down at the drop of hat because of lockdowns.

Peachy

Seems like he didn’t pay a cent of tax either?

sweet.

Gouda

By my reading, he had a fifth of the deposit in shares – let’s say 10k, and would have probably been eligible for another 10k as a first home buyer. That means he needs 30k after tax which seems possible. The kicker of the article is at the end, where he hasn’t got work due to covid and his parents are paying the mortgage for him!

I’m not 100% sure how diligent banks are on working out “genuine savings.” When I applied my bank asked for evidence from my other accounts, and all I did was show then recent statements from the last month. Now if I had family helping me by depositing money into those accounts a while ago I’m not sure this would have shown up.

Peachy

The banks are incentivised not to look too hard or interrogate too rigorously.

If they go harder than their peers, they’d just lose market share.

if they go a bit lighter – they’ll win market share.

the incentives are pretty straightforward and so are the outcomes.

exceptions exist at times when a Comissioner or similar is surveying the landscape. But as soon as the focus shifts, the rigour disappears. I guess that this is what the Solipsists have in mind when they talk about things existing only when they are observed. 😉

Chinese Astroturfer

Lenders are much more stringent with 1 bed units too, which makes the claim he bought it on his own all the more incredulous.

But I suppose his parents went guarantor which is all that matters at the end of the day and the only reason the loan got over the line.

Paying his parents back is all BS just gaining face for his family in the news article.

The numbers just don’t add up.

But yes, if you live at home, make $1,100 per week ($900 after tax),you can save $40k ($10k were shares) in maybe 15-18 months if you never go out, ride a bicycle everywhere, live off 2 minute noodles, basically just work, study and sleep. Somehow I don’t think Mr Chen lived such a monastic lifestyle.

The mortgage which he can’t pay already would be about $350 per week, then strata fees, rates, all other usual bills, furnish the place, pay movers to get all the stuff in there, I assume he’s got a car if he lives out in suburbia.

But since buying in May he’s paid back $52k with his two jobs working 7 days per week for $900 pw after tax and a bare minimum $700 pw in outgoings.

Last edited 1 month ago by Chinese Astroturfer
Gouda

More developer shenanigans.

https://www.news.com.au/finance/real-estate/brisbane-qld/fury-at-developers-as-homes-on-gold-coast-street-begin-sliding-towards-neighbours/news-story/d97688f2d289e62081929f7ae54309c8

Residents of a new housing development say they have been treated “disgracefully” by developers after their houses began sliding down a hill into the path of other homes following nothing more than a spell of heavy rain. At least seven homes on two streets have been affected with multiple families forced to leave their properties after the downpour. One house in the Riverstone Crossing estate in the suburb of Maudsland on the Gold Coast, has split in two with huge cracks in the middle of the property.

As well as splintering within their houses, affected families have seen the swimming pools of their dream homes sink and move by metres, decks crumble, walls collapse and fissures appear in gardens and nearby roads.

Jason Lyall, who lives in the neighbourhood with his wife Amber and their three young children said the damage to local homes was “catastrophic”.

“Every night it rained I was skittish. I couldn’t sleep because I kept thinking is this going to be another Thredbo landslide where you go to sleep and never wake up?” he said. Mr Lyall has laid the blame squarely at the foot of developer Stockland and Gold Coast City Council.

“The developer didn’t meet the development conditions; the council signed off on the development as complete and now both are trying to cover up for their mess,” he said. Stockland said it did all the construction works demanded of it to protect the homes and it was offering to buy the properties at “above market” value.

“Since the significant rainfall and landslip event, our priority has been the safety and support of residents,” a spokeswoman said. Mr Lyall however, said it was “all spin” and only two of at least 10 homes had adequate protections. Another displaced neighbour was more succinct, saying: “They are big fat liars”.

Ramjet

Clear all of the trees in an area with high rainfall and what do you expect to happen?