Sign in to follow this  
Followers 0
staringclown

Seems it's arrived

89 posts in this topic

18 hours ago, Mr Medved said:

Any news on the rental markets? I was thinking of negotiating a rental reduction. Seems like quite a few people are on the move in my area and I assume the residential rental market is pretty soft at the minute. I'm on a month-to-month lease so they could turn around and give me a notice to vacate, but I understand evictions are forbidden now by the Federal government?

Don't really know, but it will be local. City by city and burb by burb. I suspect that areas with lots of students and share houses will have less demand as tenants typically have jobs that have been very affected (eg bars). These tenants also have a greater ability to move back to the parents or bunch up than families. 

Tenancy laws are a state matter. Morrison would like to think he is king but it's up to the states. Check out your state rules. Queensland has passed it's laws, which don't seem dramatically different to current laws. Commentary I read said that LLs would be issuing eviction notices, even if they had no intent of evicting so they could claim lost rent on their LLs insurance policies. 

Quote

There's a place I was previously interested in renting that's now on the market. Based on oldlistings.com.au it seems like the owner has dropped rents below what was advertised in 2013. I reckon they may even go lower. But it's a pain to move places, especially with kids, so I think I'd prefer a rental reduction. Good news is I started a new job last week. Good to have cash flow after a year of very, very little.

Congrats on the new job.

Share this post


Link to post
Share on other sites
On 24/04/2020 at 4:06 PM, Mr Medved said:

Good news is I started a new job last week. Good to have cash flow after a year of very, very little.

Congrats!

:+1:

Share this post


Link to post
Share on other sites
On 25/04/2020 at 0:06 AM, Mr Medved said:

Any news on the rental markets? I was thinking of negotiating a rental reduction. Seems like quite a few people are on the move in my area and I assume the residential rental market is pretty soft at the minute. I'm on a month-to-month lease so they could turn around and give me a notice to vacate, but I understand evictions are forbidden now by the Federal government?

There's a place I was previously interested in renting that's now on the market. Based on oldlistings.com.au it seems like the owner has dropped rents below what was advertised in 2013. I reckon they may even go lower. But it's a pain to move places, especially with kids, so I think I'd prefer a rental reduction. Good news is I started a new job last week. Good to have cash flow after a year of very, very little.

We’re still paying full bubble. We are both being paid so no need not to. 
Our landlady has been good to us so I see no reason not to return the favour.

Congrats on the new job mr m. By god it’s a tough environment to get a new one! You must have a valuable skill set :)

Share this post


Link to post
Share on other sites

Wbc down to < 15. Nab cutting divs. The E side of P/E is dropping. The bottom is a way away I think.

Share this post


Link to post
Share on other sites

Thanks for the support, only a six month gig but better than nothing. Working on something on the side but will be a long road before I see (decent) money in it... not sure which is worse to deal with - the corporate world or the music industry.

 

 

 

Share this post


Link to post
Share on other sites
Quote

 

The boutique bank owned by the industry superannuation sector has blindsided its customers by removing cash from accounts linked to home loans during a global pandemic that has increased financial uncertainty.

Members Equity Bank, which is owned by 26 major super funds linked to big unions and markets itself as one of the country’s most trusted lenders, stunned customers on Monday when it, without permission, removed funds from redraw facilities to pay down home loans.

https://www.brisbanetimes.com.au/business/banking-and-finance/despicable-me-the-boutique-bank-raiding-accounts-linked-to-home-loans-20200501-p54oxn.html

 

The banking crisis has begun. NAB raising capital. ANZ suspending (nicer term than not paying) dividends. 

Share this post


Link to post
Share on other sites
On 02/05/2020 at 6:23 AM, zaph said:

The banking crisis has begun. NAB raising capital. ANZ suspending (nicer term than not paying) dividends. 

Westpac followed suit today. Not unexpected. The weird bit is how the share prices are holding up. UE is being held down by the job keeper payment I suppose. I read an article by Krugman recently. His argument is that there is no alternative to shares at the moment. And that the share market is not the economy. It sounds like a recipe for capital destruction.

I'm hanging back for the next few months to see what will happen. Though I will wet my beak if there is another substantial leg down. Apparently, moral hazard is trumped by societal collapse. :)

Share this post


Link to post
Share on other sites

Industry super funds to demand answers as ME Bank borrowers fume

ME taking redraw account money. Makes you wonder how ME's financial position really is. I have some deposits with ME cos they were paying the best interest on savings. I've wound it back a lot over the last month. It might need a further winding back.

Share this post


Link to post
Share on other sites
20 hours ago, staringclown said:

His argument is that there is no alternative to shares at the moment.

For the small investor what else is there? 

Share this post


Link to post
Share on other sites
On 05/05/2020 at 6:44 PM, zaph said:

For the small investor what else is there? 

I watched AK tonight. He had an instructive chart of the share account activity ramping up since March. Hoards of dudes pouring in and trying to pick the bottom. :)

There is a load of cash just lying around. I'm not trying to say I'm smarter than the rest by any means. But that amount of speculation must be warping the market to degree and inflating the market on some falsish optimism. I know the market is based on the future rather than the current but even so...

Trump seems to have abandoned any semblance of virus containment and gone all in on a healthier share market to boost his election chances. God help America.

 

Share this post


Link to post
Share on other sites
On 05/05/2020 at 9:45 PM, tor said:

If you can fry potatoes and pour gravy on them you could buy this place:

https://montrealgazette.com/business/local-business/cosmos-n-d-g-s-most-polished-greasy-spoon-is-up-for-sale/wcm/a155bcd1-7e83-4926-afd8-edcc37c575d4/

(you might want to wait a few weeks before making plans to come here - our covid numbers are kind of crap)

Nah. I love the idea of killing people with love but the sums don't tie out. $159,000 gross with $15000 p/a rent leaves 144K. Insurance, energy bills, staff costs leave me with bupkis. 

Plus the founder was murdered by his own son! I would certainly eat at a twelve seat diner - especially one that had the same heritage as the Cosmos. Until now - it's a six seater at best. 

Having said all this - there has to be a market (once we are past this) for a mythical diner with large portions and cheap prices and enough cholesterol to clog five men that will live in the memory of future generations? I think I'll call it StaringClowns diner. If I do it right I'll be responsible for more deaths than Corona. Totes coronary.

Share this post


Link to post
Share on other sites

I would not want to be in the hospitality industry right now. I went to the CBD on the weekend and it was dead. Not sure how fast things will pick up even if official restrictions are relaxed or lifted.

Share this post


Link to post
Share on other sites

You wait til the US numbers in 3 or 4 weeks come in.

They have consistently had news articles on Mondays saying "Yesterday was the lowest numbers in a week! it's over!" Every week for the past month. Oddly every Monday or Tuesday following the article is then a top 5 day for deaths and there are few articles about that. (Weekends are low reporting days for most countries).

The interpretation of "the second wave could be awful" warnings is generally "oh so the first wave is over".

Yesterday for example was 2500 deaths in the US (fifth highest so far). The NY/NJ percentage of deaths is dropping so all the other states are picking up their game to fill the void. During lockdown.

Last week the daily average for the US was about 1900. I think that is about 10 times a bad flu season. During lockdown.

So 39 states are starting their open this week.

If sentiment is bad now I think it might get worse. Without a vaccine that sentiment might spread to other countries leadership as well. Who wants to be the one that says reopen after it has been catastrophic for other countries. On the bright side the politicians might get so nervous that they start letting the specialists make the decision.

(Or of course the re opening turns out to be awesome proving American Rights overrule everything).

 

Share this post


Link to post
Share on other sites

Too easy. Just claim the deaths are fake news.

Share this post


Link to post
Share on other sites
6 hours ago, staringclown said:

Too easy. Just claim the deaths are fake news.

I don't have a doubt that USA people would believe that. Stupid and insular. 

Share this post


Link to post
Share on other sites

There's now loads of talk about a reopening of everything. My own workplace has just spent a fortune on a complete office refurbishment. The whole refurb was to encourage hot desking and limiting the work space to a much smaller footprint in cube world than I currently enjoy. Smaller desks, smaller cubes. More open plan.

No blame attached. This design was in play way before this malarky. But it does pose an extra challenge in terms of returning to "work from work". There's no way that everybody can go back at once. Even queues for the lifts would expose weaknesses in the whole social distancing requirements. 

At some point though - the leap has to be made. I guess we're in a better position than the US as the hiatus has been used to strengthen the ICU responses and other sensible measures. All around me people seem to be accepting of this. Personally, I never want to go back. I think I get more done at home.

Share this post


Link to post
Share on other sites

Dire predictions from CBA under a worst case scenario.

30 percent drop in house prices

I always wonder whether these articles a more of a call to government for an assistance package than anything else?

Share this post


Link to post
Share on other sites
6 hours ago, staringclown said:

Dire predictions from CBA under a worst case scenario.

30 percent drop in house prices

I always wonder whether these articles a more of a call to government for an assistance package than anything else?

Everyone has their handout for a hand out ATM. I'm going to give a swift kick in the Kant to the next company I see panhandling. 

Share this post


Link to post
Share on other sites

No one tell them how the flu numbers they were using as a comparison a few months back are calculated :)

From what I have read some epidemiologists consider the "1 in 1000" death rate over the entire populace to be a psychological threshold where it becomes personal. Like most people sort of know enough people that one of them will die in that level of death rate.

That is what NY and NJ got to. I'd argue those two states have had a downward trend in daily deaths for about about a month:

https://www.worldometers.info/coronavirus/usa/new-york/

Connecticut, Massachusetts and Louisiana are the next 3 by deaths / million. 9/8/500 respectively. I'd argue those three states have had a fairly constant death rate for the past month.

I suspect the reopening in MY/NJ will be fairly minor as people just don't go out. The other states it won't have become personal and people will go out and the spread stands a chance of spiking again with about a 2 week cases spike and a 3 or 4 week death spike.

Canada has requested that the border remains closed. Trump wanted to send troops to the border a few weeks back so I am sure we will be allowed to :)

Share this post


Link to post
Share on other sites
On 5/15/2020 at 6:03 PM, staringclown said:

Dire predictions from CBA under a worst case scenario.

30 percent drop in house prices

I always wonder whether these articles a more of a call to government for an assistance package than anything else?

Everyone has their handout for a hand out ATM. I'm going to give a swift kick in the Kant to the next company I see panhandling. 

Share this post


Link to post
Share on other sites
Quote

 

"If you look at the one survey, the only bad survey, they were giving it to people that were in very bad shape," Trump said. "They were very old, almost dead. It was a Trump enemy statement."

https://www.brisbanetimes.com.au/world/north-america/trump-defends-his-use-of-hydroxychloroquine-lashes-out-at-pelosi-20200520-p54ulu.html

 

Watch the video in the link. Trump is just entertaining.

Share this post


Link to post
Share on other sites
On 20/05/2020 at 9:47 AM, zaph said:

Watch the video in the link. Trump is just entertaining.

If he is actually taking it? I doubt it. He has bought some stocks and hopes to make a profit. Probably.

People are now wargaming the options that this creature has for disrupting the elections if it looks like he's going to lose.

  • Refuse to hand over power - delegitimise the results
  • Call a state of emergency to prevent polling booths opening in inner city areas of swing states due to the second wave of infections
  • Postpone or cancel the election
  • Something else

He is already threatening to withhold federal funding to states which expand postal voting!

This sort of conspiracy used to be outside of my own credulity. It couldn't happen. Until it could.

 

 

Share this post


Link to post
Share on other sites

Trump did a memorial day speech. He stayed on script throughout. Was weird.

12 mentions of the flag in 12 minutes which feels fairly standard for 'merkin speeches. Focussed largely on dying for the flag.

"For as long as our flag flies in the sky above, the names of these fallen warriors will be woven into its threads. For as long as we have citizens willing to follow their example, to carry on their burden, to continue their legacy, then America’s cause will never fail and American freedom will never ever die."

Just wish someone had told him he doesn't need to kill off more Americans to make more flags.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!


Register a new account

Sign in

Already have an account? Sign in here.


Sign In Now
Sign in to follow this  
Followers 0