Those who do not understand history are bound to repeat it. The boys at macrobusiness have proven particularly resistant to learning history… and so particularly prone to repeating many many stupid mistakes.
This morning at Macrobusiness, the boys have completely given up resistance and have immediately commenced begging to be assimilated into the EZFKA collective: my my, how the mighty have fallen. Luckily, the macrobusiness boys have a good chance of being accepted and assimilated on reasonably concessional terms, as the degree of their repudiation of Australia … Read more
Today, the mask has slipped a little more at macrobusiness, as the boys have written – this time in plain English – what had previously been a respectfully unspoken subtext:
Today, Macrobusiness slanders prominent EZFKA institution (ANZ) and eminent EZFKA resident (CEO, Shayne Elliott), accusing them of being whiny biatches:
A good dozen years ago, my mate Mish wrote “Humpty Dumpty On Inflation“, where he lamented the slipperiness of definitions and the use of slippery definitions, by slippery types, to deny inflation or deflation, or any-other-flation: ‘When I use a word,’ Humpty Dumpty said, in a rather scornful tone,’ it means just what I choose … Read more
Well looks like Macrobusiness has done it again, being 100% wrong on a hysterically dramatic, deliriously hubristic call. In an unusual turn of events, this one took a whole 24 months to be proved 100% wrong, rather than the traditional 18 months. In compensation, however, the call has proven not merely 100% wrong, but more like 256% wrong!
Macrobusiness has been obstinately banging on about the terrible deflationary forces bogeyman for longer than one cares to remember. They have become, it seems, the spiritual successor to the Steve Keen (and Ed Karan before him).
In a recent post, it was predicted that opening schools after insisting on months of lockdowns would be a hoot, but also a bit of cool comeuppance for those fearful types who begged for and praised the lockdowns while praying for some kind of change:
Over the weekend we have seen Jacinda Ardern’s Labour party in New Zealand claim victory in the parliamentary elections.
Today the Ministry of Truth officials Millar, Vedelago and Hall announce that it is foreigners crowding in small spaces that define the southern capital of the EZFKA:
In an increasingly shrill promotion of its “glut cult” today Macrobusiness has suggested that any EZFKA resident who doesn’t already own a residence (ie looser) should be quite content to make themselves cosy in a projected dwelling completion:
Today at Macrobusiness the boys moan:
It’s the same every time we face this question. The same tired people. The same reactionary arguments. The same lack of imagination. All have resisted rate cuts for years, been wrong the entire time about it, yet they never let up nor learn.https://www.macrobusiness.com.au/2020/10/mother-of-god-our-monetary-economists-are-hopeless/
ironically, they almost immediately get to repeating their own tired dogma, which has been constantly wrong FOR A DECADE…
So apparently Victorian schools have gone back to in-classroom learning this week. It should therefore be expected that virus diagnoses will bounce and them Mexicans will never get to their target of 5 or fewer per day.
Laughs on those fearful types who advocated the months and months of house arrest for all residents for a goal that can only be hit by sheer luck.
Today Macrobusiness reprised its housing oversupply fantasy, repeating exactly the same arguments, but adding a few new charts.
Over at Macrobusiness today, the boys discover that
Data released this month suggests Australian households are deleveraging at a furious pace.https://www.macrobusiness.com.au/2020/10/the-great-aussie-household-deleveraging/
and incorrectly conclude that households are caught in a paradox of thrift:
After another 18 monthstm of denial, today the blokes at Macrobusiness seem to have understood what happens to EZFKA housing prices when interest rates are dropped and people, like, still need somewhere to live:
The SMH is reporting that
The federal government is promising it will not block foreigners who don’t speak English from obtaining visas to marry their partners following a backlash to an English language test announced in Tuesday’s budget.
At MB today, apparently
The data speaks for itself…. Absolutely the Australian property market is facing an acute demand problem.
There are some scary charts, too, with steeply declining lines:
Owing to the terrible skill shortage amongst legacy EZFKA residents (and their refusal to accept illegal conditions), multiple logistics specialists have had to be imported to drive trucks.
So says The Age:
At MB today, apparently:
But hey, it’s not much of a “debate” if all you do is constantly cry out for lower rates