Lismore man who lost everything in floods thanks Albo for sending thoughts and prayers from Mardi Gras

A Lismore man who lost his house and business in the NSW floods, has thanked opposition leader Anthony Albanese for sending well wishes from the Mardi Gras in Sydney.

John Sattler, from Lismore, lost his property and agriculture business after flooding destroyed everything. However, he said he really was given hope when Albo turned up at the Mardi Gras and sent thoughts and prayers.

“It’s great to see our future PM stand up for what matters in the greatest floods since 1974,” John said.

“Supporting the moral decay of Australia by attending a public degeneracy parade when flooding has wrecked two states and millions of lives, really gives me a positive glimpse into the future of an Albanese government.”

Albanese said he will be scheduling more photo ops in the coming weeks and vowed ‘if Scomo doesn’t hold a shovel then I sure as hell won’t be getting my boots muddy.’

“We’ve perfected the art of doing nothing in opposition for so long, so don’t expect that to change.”

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Agent 47

People who take their kids to the festival of buttsex should get the rope.

This is basically a preview of Albo – wholeness on steroids.

Ramjet

Albo sent him thoughts and prayers. I guess it is better than getting a tirade from Adam Bandt about how climate change caused this and how working class like John needs to subsidise Teslas.

Chinese Astroturfer

The foundation of gay culture is the right for men to suck penises and put them in other men’s anuses, so the culture must be defended, protected, promoted in a positive light at all times otherwise the whole movement falls apart at the seams when the foundation is so weak to begin with.

Most cultures are based on securing food, land, defending territory, procreation.

Gay culture is about the right to suck another mans penis.

emusplatt

John Sattler? one of the tenterfield Sattlers presumably?

A fly in your ointment

I wanted to patent “the method and vessel to freight thoughts and prayers from various physical or legal entities to other various physical or legal entities” as well as “container for conveyance of emotions across space and time” for optional extras but I got stuck at the invention phase about 32 years ago. Perhaps I should return to finish inventions as the post truth phase of Westworld is in the full swing.

LSWCHP

When reduced to its essence, the whole gay thing…gay rights, diversity, gay marriage, rainbow flags, whatever…the whole thing is about arse fucking.

Reus's Large MEMBER

Unsurprising then that the government supports that as they have had plenty of experience doing that to the tax payers …

canuckdownunder

Not only that but if you display a preference for whose arse you want to fuck it’s racism. I guess if I was on a dating app and said I only wanted to meet women the gay brigade would be crying homophobia.

https://www.abc.net.au/news/2022-03-06/sexual-racism-on-dating-apps-in-australia/100872332

robert2013

You shouldn’t read the abc. It’s too depressing.

Reus's Large MEMBER

In spite of WW3 on the horizon, that crap is worthy of an article. FMD those arse fuckers are going to suffer when the shit really hits the fan, I say bring on the CCP and Putin and let’s get some lead into the woke.

Coming

Could someone explain to me why the ruble is falling ?

russia has one of the largest current account surpluses in the world

it’s main exports (oil, gold, wheat) are at record highs

sure the us and Europe might not import its oil , but oil can just go elsewhere like when China said it won’t import our iron ore

should we be taking a big bet on the ruble

A fly in your ointment

Because panic.
Eventually it will consolidate but some losses will not regain. Smart money already sold everything denominated in Ruble, ready to buy the dip again. Silly me, I thought stock exchange was a mean to grow businesses, seems to me it is no different than a pig farm

Peachy

Yes, I think there is opportunity in the ruble. Note also that it’s yielding 20%….

now, what exactly to buy?

Coming

Some sort of synthetic contract ? CFD?

I don’t know I’m not a finance guy
aren’t you the expertSome sort of synthetic contract ? CFD?

I don’t know I’m not a finance guy
aren’t you the expert

though if it’s yielding 20% maybe I should just buy bonds

how does one go about that

Last edited 6 months ago by Coming
Peachy

We need Freddy to help us.

I was also thinking some bonds. Short to medium term (6mo – 3yr), although subject to seeing how the pricing looks out across the yield curve

however, sanctions might mean that if you try to buy bonds, you can’t and you go on a list. Which means that you’d need some kind of derivative or indirect exposure.

Last edited 6 months ago by Peachy
Freddy

I don’t trade FX. But I presume that if you are buying an FX CFD you will receive the difference in cash rates minus a funding rate. It would be something like 20% – 0.1% (aus cash rate) – 2.5% ( funding rate), and then obviously pay or receive the difference in the actually value of that FX CFD when you close out your position.

I warn you though that the Ruble and Russian Stockmarket starting to price in a default. i.e. That Russia will default on all their bonds, either nationalise their entire stock market or tell all foreign owners to GAGF.

As some commentators have been saying for a while, this is the time to be concerned about “return of capital” rather than “return on capital”.

Last edited 6 months ago by Freddy
Coming

“pricing in a default”

isn’t that the time to buy

Goldman Sachs and Warren Buffett about to come in with a rescue package

Freddy

This is not a Greece-like scenario where all the vultures were buying up Greek assets at a bargain price. This is USA and allies trying to destroy Russia financially. Help can only come from Russia’s allies.

Russia will return the favour by nationalising all western-owned assets:
Russia discusses nationalizing Boeing, Airbus fleet: reports (aerotime.aero)

Coming

That might be what russia does (like china)

But in the west, assets are never “nationalised”

They just change hands from regular market participants to oligarchs and those with connections

How can we get ahead of that trade?

Freddy

A lot of the trades are already done. Look at the price of wheat for instance. Go and stock up on your imported wheat products like Italian Pasta before they disappear off the shelves toilet paper style.

I am expecting food prices to skyrocket. EZFKA capable of producing it’s own food but we know the cunts will send it all overseas to maximise profits. If this happens it probably means rates will stay the same or possibly even fall rather than rise. This goes back to my theory that genuine inflation comes from rising wages (increasing disposable income). High food prices means less disposable income available to service debt and we can’t have that in EZFKA.

The90kwbeast

I have a running thought that the famous MB crash predicted for Australia could actually for once be coming.

If the fed reserve jacks up rates 4-5x this year, and the RBA does nothing, that will tank the AUD surely to $0.60 or less, actually driving further inflation, which will force rates up afterwards anyway. If rates go up too much you pop the housing bubble.

If the RBA increases rates and tries to keep up with the Fed, let’s say a cash rate of even 1% (?), you risk popping the housing bubble.

Any ideas on how this can play out from here without either sustained 4-7% inflation, or 20%+ wiped off the housing market?

bjw678

Any ideas on how this can play out from here without either sustained 4-7% inflation, or 20%+ wiped off the housing market?

This doesn’t happen.

If the fed reserve jacks up rates 4-5x this year

.

actually driving further inflation, which will force rates up afterwards anyway.

It’s also far from a certainty that this is true either as the sorts of rate increases I think you are talking about will take a lot more than 20% off the housing market and I don’t think the RBA has the ticker to do that intentionally.

nd the RBA does nothing, that will tank the AUD surely to $0.60 or less,

This also seems far more certain in the offshore funding world when rate of return on foreign money was a significant driver of exchange rates but in a world where the RBA just prints loans into existence internally does this still hold? I don’t know but it doesn’t seem a certainty.

Last edited 6 months ago by bjw678
The90kwbeast

If the US offers 1%+ on cash and we offer basically 0% what happens then though?

I agree if everyone is paying 0% your last point is correct but if we’re back to normalised interest rates, well at least anything above zero, aren’t we back to the good old days where respective interest rate differences matter?

If the RBA does nothing basically this year and the Fed does how can the $AUD not crash making inflation, then forcing them to jack rates?

Coming

if commodity and grain prices stay this high , Australia’s current account surplus is going to be huge

and again I can’t understand how a CAS nation can have problems preserving the value of their currency

The90kwbeast

True makes sense

Should be interesting to see how it plays out, and to what extent these opposing forces will play on the AUD and inflation here

Freddy

Any ideas on how this can play out from here without either sustained 4-7% inflation, or 20%+ wiped off the housing market?

We won’t get sustained price inflation without wage rises. Unions are no longer going to cause chaos demanding wages rise to counter prices rises. In EZFKA we now do the opposite and kick workers in the nuts by opening up the immigration floodgates.

I expect house prices to fall modestly. RBA would shit itself with anything more than modest. Commodity prices are supporting the AUD which takes some pressure off the RBA.

The90kwbeast

I have no data but my take is wages are barely keeping up for now but once the immigration gates are re opened in a few months this won’t hold and if inflation keeps up I don’t know how much wages will follow.

Agreed workers are kicked in the guts especially once this happens.

Also isn’t most of the inflation we have as a result of supply side shocks that keep on going? There isn’t a massive increase in spending power now driving it.

Reus's Large MEMBER

The RBA will look through inflation till it smacks them between the eyeballs, then they will blame anything else, and still do their best to keep house prices going up, at the end of the day house prices will never be allowed to crash while there is still a BB alive to hear it happen.

emusplatt

cue housing protection racket mk7
superannuation $$$ into housing and more bullshit buying programs to bail out banks.
punters get reamed by higher inflation

ezfka spawns a new corporate residential landlord sector buying foreclosed property at predetermined prices.

emusplatt

expect public private partnerships* in the initial stages of the new corporate residential landlord sector.
*to be spun out to mates later on 

Stewie

So something in the water or culture?

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Reus's Large MEMBER

Soft times, breed soft people ….. soft people breed hard times, hard times breed hard people …. hard people breed soft times

So the cycle goes on, you know where in the cycle we are now, staring down the barrel of hard times.

Last edited 6 months ago by Reus's Large MEMBER
The90kwbeast

12,416 isn’t a big survey

For Australia let’s see what the 2021 census says in June

bjw678

12,000 is plenty if they are a representative enough sample.
12,000,000 isn’t necessarily enough if they aren’t representative.

To make a blunt example a survey of 12,000,000 australian males would indicate no one was a lesbian…or a woman.

Reus's Large MEMBER

Since the data for these things is now available to most such that you can’t juke the stats anymore, they mess with either the questions or the sample as you attest to above.

They could easily have just asked those that look like they are “alphabet” the question in the survey, I am sure that if you asked the same question of 12000 people in a texan midwest town you would get a very different result.

The90kwbeast

Correct my point exactly

ABS census should be pretty revealing I’d suggest maybe 2% of the population max and maybe 4-5%of Gen Z

Let’s see

robert2013

A failing culture in its last days.

Reus's Large MEMBER

Hard times ahead, not entirely a bad thing.