Nerfonomics

DeBloot

Likes Bikes and Dirt
On a slightly different, well very different note
I see Hertz shares are popular at the moment :p
Seeing as the company itself said they will be worthless in the not too distant future
Are people stupid with their money or am I missing something?
It's intriguing
 

Nerf Herder

Wheel size expert
https://www.commbankresearch.com.au/apex/ResearchArticleViewV2?id=a0N0e000006PhDLEA0&un=alan@linksports.com.au&tk=YTBOMGUwMDAwMDZQaERMRUEwOmFsYW5AbGlua3Nwb3J0cy5jb20uYXU=

edit ... Retail spending up with easing of retrictions ... der

Underemployment has been a topic of the left for several years now ... without any real solutions to it other than ... blame the EVIL Corporates, EVIL Business ... and like clockwork the small % of evil business operators and corporate elites just walk into it with scandals of ripping employees off or laying people off to save bonuses and short term profits ... but really WTF is Australian Leadership doing about it ???

Be interesting to see what you all think are the solutions to underemployment.
 

rowdyflat

chez le médecin
LNP wont do anything to help.
The business likes the gig economy because it disempowers employees.
I think so many jobs these days are rubbish that we may as well get used to underemployment as the new norm.
 

Calvin27

Eats Squid
Be interesting to see what you all think are the solutions to underemployment.
4 day work week.

Underemployment is a symptom of not enough jobs because we have largely automated and mechanized production. Instead of telling people we have to do bs jobs (there are lots of those) just take the existing jobs and divvy them up. Only way to do this is to reduce the expectation of employment contribution.
 

rowdyflat

chez le médecin
symptom of not enough jobs because we have largely automated and mechanized production.
absolutely too many non productive jobs eg OH+S ,box tickers,counselling about bullshit, making bullshit products , managerial , IT bullshit, public service bs jobs changing things for the sake of it.
 
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Calvin27

Eats Squid
absolutely too many non productive jobs eg OH+S ,box tickers,counselling about bullshit, making bullshit products , managerial , IT bullshit, public service bs jobs changing things for the sake of it.
Covid pretty much showed how many jobs were bs jobs. Jobseeker is basically universal basic income. The world didn't fall apart.
 

Nambra

Postmeridian
Adding to this thread as it seems relevant to @Nerf Herder's original intent. Couple of recent Aunty articles on how we look forward economically:

https://www.abc.net.au/news/2020-06-29/australia-is-defeating-coronavirus-but-risks-an-economic-own-go/12400524
(TLDR - Gratton Institute argues govt shouldn't be focused on balancing the budget over borrowing to support the economy)

https://www.abc.net.au/news/2020-06-22/philip-lowe-rba-reserve-bank-governor-warns-coronavirus-shadow/12379074
(TLDR - RBA says simply borrowing more won't help, reform is needed in order to face the global slowdown)

RBA chief from the second article:

"We can borrow to build the bridge, but we can't borrow to address a slower growth world."
Instead, Dr Lowe again urged policymakers to use the crisis to make long-term changes that might enhance productivity and economic growth.
"What we can do is reform," he continued.
"And the list of areas where we should be doing reforms is well known: they include tax, infrastructure, human capital, industrial relations, regulation, entrepreneurship and R&D [research and development].
"If we don't address those areas then I think we'll just meander along with kind of mediocre growth."

Regardless of how everyone is faring personally, it's clear the country as a whole needs to start charting a new course to survive economically. Does anyone else think that the rise in globalisation that's occurred since the late 1960's has come to an end, with COVID-19 the final nail in the coffin? Before the pandemic there was Brexit, and Trump's America-first campaign. Then there's the overdependence on China; a lot of countries are now probably a lot more wary of the CCP's "we're the nice guys" propaganda as the extent of their pernicious tentacles of influence become more apparent. FTA's aren't worth a pinch of shit where they are inequitable (or ignored) and global organisations still operate with regional business models that allow them to avoid tax, exploit workers in poor countries and shaft consumers with overinflated prices in wealthy countries for maximum profit.

Despite those sectors of the economy that are stuffed due to the pandemic, like airlines and tourism, there has been resilience in other areas which has combined with our solid response to COVID-19 to lessen the impact... thus far. But what now? Short term - keep up the extra social support measures to buy some time to plan? Medium term - replace the holes in the economy and job market left by the reduction in international visitors & trade? Long term - a new vision of Australia as a more self-sufficient nation, fuelling our economy with self-consumption and built on sustainable foundations - no more population growth pyramid scheme, no more profits over environment, no more tax breaks for big business? I fear this isn't the mindset in Canberra or at the RBA.

What sort of Australia do people want to see in 2021? 2025? 2030?
 
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hifiandmtb

Sphincter beanie
Have a read of this - even just the first section:

https://c402277.ssl.cf1.rackcdn.com/publications/386/files/original/Major_Tipping_Points_in_the_Earth's_Climate_System_and_Consequences_for_the_Insurance_Sector.pdf?1345749585

Combined sea level rise - global sea level rise (SLR) of up to 2 m by the end of the century combined with localized sea level rise anomaly for the eastern seaboard of North America

Insurance aspects - The critical issue is the impact that a hurricane in the New York region would have. Potentially the cost could be 1 trillion dollars at present, rising to over 5 trillion dollars by mid-century. Although much of this would be uninsured, insurers are heavily exposed through hurricane insurance, flood insurance of commercial property, and as investors in real estate and public sector securities.

Indian Summer Monsoon - shifts in hydrological systems in Asia as a result of hydrological disturbance of monsoon hydrological regimes (particularly Indian Summer Monsoon) combined with disturbance of fluvial systems fed from the Hindu-Kush-Himalaya-Tibetan glaciers (HKHT)

Insurance aspects - The potential scale of drought losses could abort the initiatives to extend insurance more widely into the rural sector. The wider repercussions of drought through an economic slow-down and deterioration in public finances would impact insurers strongly, through the liquidation of private savings and the impairment of investments in public sector securities.

Amazon die-back and drought - committed die-back of the Amazon rainforest and a significant increase in the frequency of drought in western and southern parts of the Amazon basin

Insurance aspects - Insurers would be directly affected by the economic effects of drought in the region i.e. an economic slow-down, and deterioration in public finances. The impacts on natural forests would be less material, since markets in natural carbon and biodiversity are unlikely to be significant for some time, and the drought risk will become evident during that period. In a broader sense, drought could incentivize investment into other forms of energy, e.g. solar power.

Shift in aridity in Southwest North America (SWNA) - a significant shift to a very arid climatology in Southwest North America (SWNA)

Insurance aspects - Insurers are now alert to wildfire risk in the region. The most serious aspects of the tipping point for insurers would therefore be the indirect ones, i.e. economic and labour market disruption and a deterioration of public finances. On the positive side, investment in water management and alternative energy could provide opportunities for fund managers.
The currently insurable would become uninsurable. Risks would be born by individuals.

We are walking into the unknown - trying to plan an economy with such substantial baked-in fundamentals has never been done before.

God speed.
 

Kerplunk

Likes Bikes and Dirt
Long term - a new vision of Australia as a more self-sufficient nation, fuelling our economy with self-consumption and built on sustainable foundations - no more population growth pyramid scheme, no more profits over environment, no more tax breaks for big business? I fear this isn't the midset in Canberra or at the RBA.

What sort of Australia do people want to see in 2021? 2025? 2030?
I pretty disheartened with the messaging coming out of canberra, there appears to be very little appetite for fundamental changes on the table. In fact it looks like the gov wants to supercharge the already unsustainable ponzy parts of the economy. That idiotic houseprice keeper /renovation keeper scheme is a perfect example.
I have watched week after week of Q and A where they all these futurists and big thinkers discussing how we can shape the post covid Australia.. But if you listen to Canberra there is zero big thinking, just the same shit mutipled.
Bringing in international students is a perfect example, this has as much to do with education as it does supporting house prices, developers and hospitality/gig low paid work..
 

rowdyflat

chez le médecin
Agree with most of the above the Govt in Canberra is too lazy, conservative and lacks vision so no hope of reform.
Lead by Smoco appearance more important than substance.
Coronavirus effects will go on much longer than people realised so economy is stuck in reverse gear.
Underemployment here to stay.
 

Nerf Herder

Wheel size expert
Debt is good in low interest environments ... printing money is good in extremely low inflation environments.

surely we are a long long way from stagflation ... so Surely this is the best time for the RBA to rubber stamp everything the govt wants to do.

this is the time we should be
Upgrading out internet infrastructure
Building rail for both commodities and minerals
Putting in Battery Networks to leverage off Solar capture
Desal via osmosis powered by solar in off peak times ( saw an article Perth has so much excess capacity in Winter that it’s putting the grid in jeopardy)

meh ... if only I was dictator for a day
 

Nerf Herder

Wheel size expert
All the negative news is really making it hard to keep my positive outlook...

had a good chat to a family friend and he gave me some perspective on trickle down... basically all these hospitality, personal fitness and other service industry jobs (Uber eats, cleaners, etc) are a direct result if trickle down or those with disposable incomes funding service industries.

never thought about it that way.

it’s actually my hope that The fitness industry in particular is absolutely drilled
 

pink poodle

Our man in the West
basically all these hospitality, personal fitness and other service industry jobs (Uber eats, cleaners, etc) are a direct result if trickle down or those with disposable incomes funding service industries.

never thought about it that way.
Discretionary spending is a bit different to trickle down theories. Also all of the industries you mention are low income (or worse) and instability.

All the negative news is really making it hard to keep my positive outlook...
Buy in gloom, sell on boom!
 
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