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Thread: Oz Politics.

  1. #26916
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    Default Re: Oz Politics.

    Ok, no worse. Took it easy today mostly resting. No wine at dinner time
    instead orange juice with a teaspoon of vitamin sea !
    Simplicity is the ultimate sophistication. Leonardo da Vinci.

    If war is the answer........... it must be a profoundly stupid question.

    =-=-=-=-=-=-=-=-=-=-=
    If trump loses the election he will be like a balloon that after it's inflated is let go without tying the knot and it farts about the room bouncing off walls, ceiling and windows, in a fatally erratic implosion! Those near him will be blown away!

  2. #26917
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    Default Re: Oz Politics.

    No wine?……..



    Glad you are feeling better………………….

  3. #26918
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    Default Re: Oz Politics.

    Bought a bottle of scotch today, Glenlivet, nothing fancy.
    ​"Life is under no obligation to give us what we expect." Irrfan Khan. RIP

  4. #26919
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    Default Re: Oz Politics.

    My favourite malt Gary. Did you wipe it down with……..whisky?…….

    BTW, Myer to close all it's stores. Business is ahead of the fed game it seems.

  5. #26920
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    Default Re: Oz Politics.

    Quote Originally Posted by skuthorp View Post
    My favourite malt Gary. Did you wipe it down with……..whisky?…….

    BTW, Myer to close all it's stores. Business is ahead of the fed game it seems.
    I wore gloves.
    We had to go to the health food store to get the bulk items for Kez's special nut breckky mix. The store provided hand sanitiser and XL gloves for handling the bulk bins so I kept the gloves for the rest of the shopping. Coles had a woman dispensing wipes to customers as they walked in the door.
    ​"Life is under no obligation to give us what we expect." Irrfan Khan. RIP

  6. #26921
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    Default Re: Oz Politics.

    Glenlivit at the health food store? My, things are changing in Northern NSW!

  7. #26922
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    Default Re: Oz Politics.

    Quote Originally Posted by skuthorp View Post
    Glenlivit at the health food store? My, things are changing in Northern NSW!
    Not quite...sadly. I had to walk to the bottleshop.
    ​"Life is under no obligation to give us what we expect." Irrfan Khan. RIP

  8. #26923
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    Default Re: Oz Politics.

    Looks like the libs will destroy industry super funds after all.
    they'll be salivating over this.

    https://www.theguardian.com/australi...e_iOSApp_Other
    It's all fun and games until Darth Vader comes.

  9. #26924
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    Default Re: Oz Politics.

    That’s an interesting perspective.

  10. #26925
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    Can someone tell me this? It seems to me that the share market, and other assets held by super funds is going to suffer over the next 6-12 months and maybe more. The Super funds always say take a long term view, just ride it out. But why wouldn't you move from a "growth" option to cash for the next little while and move back to growth when things start to improve? I'm not sure whether the funds are just lazy, or whether as that article suggests, there's a bit of a herd immunity thing driving their standard advice. They don't want everyone moving en masse into cash. I think that concern means their advice is probably not in the best interests of individual members. I've already lost about $20,000 of my very meagre super. Why not at least lock in what's left while we slide down this hill? Anyone understand this stuff?

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  11. #26926
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    Default Re: Oz Politics.

    Only a tiny bit. One argument is that funds available for a rainy day ought to be used for this rainy day. The other argument is that withdrawal of funds now will cause a selling rush as funds will have to shed investments to pay out, and that will diminish the value of the market, and diminish the long-term value for each package as a consequence.

    If our government chose to supplement wages while they froze the economy, rather than subsidising businesses that can't operate now anyway, we wouldn't have this call on super funds (see Laura Tingle's article on ABC this morning).

    Rick

  12. #26927
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    Default Re: Oz Politics.

    Our country's response to CV looks a bit better than the US'. What a CF it is over there!

    Rick

  13. #26928
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    Default Re: Oz Politics.

    I don't wish to make everyone feel worse, but if you can listen to Geraldine Douges Saturday morning programme re the demise of the ancient Gondwanan rainforests. They are gone, the seed is gone, the birds and animals are gone and the rivers may not recover. Too much ash and climate change and those scientists in the area of expertise are despairing of any effective recovery unless we (the world) stops putting pollutants into the atmosphere. Well we know that's not going to happen don't we.

  14. #26929
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    Default Re: Oz Politics.

    Quote Originally Posted by skuthorp View Post
    No wine?……..



    Glad you are feeling better………………….
    ..........feeling much better this morning after meditating subconsciously on this healing mandala for most of the night.
    Simplicity is the ultimate sophistication. Leonardo da Vinci.

    If war is the answer........... it must be a profoundly stupid question.

    =-=-=-=-=-=-=-=-=-=-=
    If trump loses the election he will be like a balloon that after it's inflated is let go without tying the knot and it farts about the room bouncing off walls, ceiling and windows, in a fatally erratic implosion! Those near him will be blown away!

  15. #26930
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    Default Re: Oz Politics.

    Quote Originally Posted by skuthorp View Post
    I don't wish to make everyone feel worse, but if you can listen to Geraldine Douges Saturday morning programme re the demise of the ancient Gondwanan rainforests. They are gone, the seed is gone, the birds and animals are gone and the rivers may not recover. Too much ash and climate change and those scientists in the area of expertise are despairing of any effective recovery unless we (the world) stops putting pollutants into the atmosphere. Well we know that's not going to happen don't we.
    Well, you might not have wished it but .....

    I have this hope that the easing in heavy pollution that's occurring due to reduced industrial activity now will alert enough people to the advantages of clean air and water! But my reality head kicks in and tells me that there'll be a mad rush to get everything going again, and environmental concerns will be bulldozed over yet again. Nature has warned us sooooo many times but our species is just too stupid to listen or see.

    Rick

  16. #26931
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    Default Re: Oz Politics.

    Quote Originally Posted by Hallam View Post
    ..........feeling much better this morning after meditating subconsciously on this healing mandala for most of the night.
    Happy to hear it!

    Rick

  17. #26932
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    Default Re: Oz Politics.

    Americans believe fundamentally that they live in the best country on Earth and that the way they do things is always the best way. The more ignorant they are, the more they believe it. We look at the way the US is responding to the CV crisis and shake our heads that any country could be sooo stupid and so tolerant of a government with such a deficit of intelligence and humanity. But so many Americans don't see it that way. Chumps polling is up because he's seen to be doing something now and, because he's the US President, it must necessarily be the right response. Americans have no idea what other countries are doing because it's irrelevant to them - it couldn't be better than the American response.

    Rick

  18. #26933
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    Quote Originally Posted by RFNK View Post
    Only a tiny bit. One argument is that funds available for a rainy day ought to be used for this rainy day. The other argument is that withdrawal of funds now will cause a selling rush as funds will have to shed investments to pay out, and that will diminish the value of the market, and diminish the long-term value for each package as a consequence.

    If our government chose to supplement wages while they froze the economy, rather than subsidising businesses that can't operate now anyway, we wouldn't have this call on super funds (see Laura Tingle's article on ABC this morning).

    Rick
    Cheers. I didn't mean withdraw the money as per the virus relief. I meant leave it in the fund but switch to a capital safe option. I think that would be sensible. But the funds and everyone else seems to say not.

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  19. #26934
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    Default Re: Oz Politics.

    My guess would be that they worry that transfer away from particular kinds of stocks would still lead to a sell off and consequent loss of overall value.

    Rick

  20. #26935
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    Default Re: Oz Politics.

    Workmate who’s wife is a nurse in a large hospital came down with a sore throat and cough last night, and is running a temperature today. He can’t get a test though because he isn’t himself a healthworker, and hasn’t arrived from overseas.

    So obviously that’s why only recent arrivals are testing positive. They’re the only ones getting tested at all.

  21. #26936
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    Quote Originally Posted by RFNK View Post
    My guess would be that they worry that transfer away from particular kinds of stocks would still lead to a sell off and consequent loss of overall value.

    Rick
    Indeed. But if I switch to a safe option, and everyone else accepts the "ride it out" advice, I'll do OK?

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  22. #26937
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    Default Re: Oz Politics.

    Phil, the question is really whether it is going to continue on down isn’t it? And then how you tell that it is time to switch back.

  23. #26938
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    My guess is yes, it will continue down. The economy is just starting to collapse. And you get back in when the virus has settled, lockdown has stopped and industry starts up again. Might miss the very bottom but so what? Say the all ords is at 5000 now. It drops to 2000. Like the GFC but worse. Get out now. Get back in when it's on the way up, say 2500. Ride back up to 5000. Has to be better than riding all the way down and all the way back up. That's why I don't understand the advice. Maybe it is herd advice, not individual advice.

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  24. #26939
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    Default Re: Oz Politics.

    I suspect you are correct that it will carry on for a while.
    I have an SMSF and sold some holdings, anything that it has crossed my mind was questionable over the last 12 months, and anything that had a largish amount of debt on its balance sheet. The rest I am holding. I actually bought a small parcel of shares on Friday, but I think in general its probably way early.
    Super funds are reporting heavy demand for changes from growth to cash. A couple of industry funds which were referenced above have suggested that the reserve bank should lend them cash against their unlisted assets to facilitate this. This seems very cheeky to me, after years of bragging about their superior returns from unlisted assets. What is a toll road actually worth if there is no traffic on it, for instance.

  25. #26940
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    Default Re: Oz Politics.

    Quote Originally Posted by suzyj View Post
    Workmate who’s wife is a nurse in a large hospital came down with a sore throat and cough last night, and is running a temperature today. He can’t get a test though because he isn’t himself a healthworker, and hasn’t arrived from overseas.

    So obviously that’s why only recent arrivals are testing positive. They’re the only ones getting tested at all.
    Well, the government has been bragging about doing 160 000 tests, leading the world .... but, up until a week ago, we had around 50 000 people arriving in Australia each day. Add health workers and politicians and known contacts. 160 000, unfortunately, is a drop in the bucket.

    Rick

  26. #26941
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    Default Re: Oz Politics.

    Entirely coincidentally I was 95% in cash when this came along, having decided to rejig my portfolio in November. I reckon it won't come back until it's clear that the isolation tactic has worked, and then they'd better be pretty damned careful about turning it off. The example of the Spanish flu second surge is something to keep in mind. Waiting for a vaccine could be almost another year, if they find one.

  27. #26942
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    Default Re: Oz Politics.

    Upping the restrictions to no more than two people together, excluding family.
    Over 600,000 infected world wide now. Scommo tonight was a bit surprising, he was making sense and...shock horror, I was finding myself agreeing with him..Unless I'm missing something the Libs seem to be doing everything that goes against conservative dogma.
    ​"Life is under no obligation to give us what we expect." Irrfan Khan. RIP

  28. #26943
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    Strong advice to observe full lockdown as I read it. Stay at home except for essential shopping medical and work that can't be done from home. That last one is a very big exception I think.

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  29. #26944
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    Kind of a Clayton's lockdown. But just as expected. Next step is to make it enforceable, and then publish a list of essential services. Couple of weeks for that? Maybe 3. Shutting down the economy is a very big step.

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  30. #26945
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    Default Re: Oz Politics.

    To be effective, this is going to take months.

    Rick

  31. #26946
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    Started building a shed yesterday. Just realised cordless drills and batteries are on the boat. Going to have to go against the strong advice and go get them.

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  32. #26947
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    Default Re: Oz Politics.

    Can’t see any problem with that if you don’t mix with anyone.

  33. #26948
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    Default Re: Oz Politics.

    Quote Originally Posted by Phil Y View Post
    Strong advice to observe full lockdown as I read it. Stay at home except for essential shopping medical and work that can't be done from home. That last one is a very big exception I think.

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    If the rain showers stop that last bit might give me a chance to do a job on the boat. However if I end up with stitches on Friday the rain becomes irrelevant.
    ​"Life is under no obligation to give us what we expect." Irrfan Khan. RIP

  34. #26949
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    Gaz I'd say work in that context means employment. I think NSW is going a lot harder than SA. I just heard our premier on radio basically downplaying it. Oh we have an enforceable ban on gatherings of 10 or more. The 2 person limit is just a recomendation at this stage, we'll see how it goes. He seemed quite clueless. Looking into lots of things but no plan or direction at all.

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    Last edited by Phil Y; 03-29-2020 at 05:49 PM.

  35. #26950
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    Default Re: Oz Politics.

    The horses are scared enough already, stampeding them will not help Phil, and don't forget, everyone is flying blind, and he may well be scared himself..

    We're not going anywhere until we need some supplies. Over 70 or not.
    We could do with a few things now but we don't 'need' them.

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