Australian MSM outlets are scrambling to ratchet up more COVID fear porn, after realising the public never really gave a fuck about Ukraine in the first place.
The move comes as cost of living and interest rates begin to cripple the economy, and questions about why Albo was giving some shithole Eastern European nation of no significance to Australia, endless tax payer money and defence equipment.
“It’s been quite a nightmare for us to pivot back to fear porn about variant number 296734 and the return of mask mandates but we’re confident we can scare the shit out of the normies agaim,” a spokesman for Fairfax said.
“We tried our best with endless war propaganda of questionable accuracy but no-one really cared, Ukraine is about 6 current things ago. Russia is kicking their arse anyway. Back to fear of a cold it is.”
All members of the MSM are invited to National Cabinet today to devise a strategy for the 4th, 5th and 6th jabs.
In other news:
https://www.dailymail.co.uk/news/article-11023095/ANZ-buys-Suncorp-means-you.html
It will be waved through. Can’t have competition in EZFKA.
Any tin foil ideas at play here? Is this ANZ shoring up it’s ability to receive bailouts via too big to fail if the shit hits the fan in the next 18 months?
First sentence in the article: “ANZ will buy smaller rival bank Suncorp for $4.9 billion in a bid to take on a greater share of Australia’s home loan market“. This is in the current market when everybody warns of further rate rises and heavy losses in the housing market
I’d speculate there is one of three possibilities:
For 3, Suncorp already has experience in setting up a bad bank of non performing loans which they did in 2008.
#3 is what I was thinking tbh
But agreed all 3 options are a possibility. It’s basically moral hazard at play once again.
I don’t know, blokes. I don’t think that’s how Shayne works…
What’s your take? Pure honest corporate play to firm up ANZ or something else
Yeah, that’s probably it.
their market cap is 60b compared to wbc and mqg at 65b.
so a 5b acquisition gets them back in the game… equal-third on size, rather than distant fifth.
add in a bullshit story about synergies and also instant penetration into the lucrative QLD market (including reach into regional) – it almost sells itself! 😁
$42b apparently, WBC $48b, NAB $65B and daylight to CBA at $110b
Suncorp $10b pre acquisition
Below is the info I’m looking at …. Obviously it shifts around a bit all the time.
as far as I can tell all of Suncorp is worth about $15b; the BOQ but is being valued at $5b.
I still maintain this is a firm up of the too big to fail paradigm.
Does it really matter if they are $42b or $52b, it’s still a massive bank by any standard. 44th largest globally, pre Suncorp.
I’d agree with that in the general sense – banks want to get as big as possible for TBTF reasons amongst others.
I can’t believe that Shayne told his Board (and M&A) team “I’m afraid we’ve gotten too small to benefit from TBTF perks, we need to find something, anything to buy to get the market cap up!”
Nah, the shareholders would be asking how Shayne and the board missed the biggest property boom in over 30 years. Buying Suncorp makes up for all of the lost asset growth.
What boom? The market appears to be peaking even in QLD now, price wise. Aren’t they buying another big bunch of mortgages at peak valuations, only to ride it into negative equity
What boom? The 25% house price increases in 2021. Most banks grew their assets except ANZ
I get they’re buying the loan book with mega mortgages but again they’re also assuming that the mortgage owners aren’t going to go into negative equity
No use buying out all those assets if they wind up with a bunch of distressed assets, hence my TBTF shore up tin foil theory
Until the losses are realised by sale the LMI won’t pay out as what amount would they pay? They will only be made whole, nothing more or less.
Well, they could theoretically make a profit if they bought the whole book of loans at a discount (ie bought the bank at less than net asset value) but I don’t think that’s what is happening here.
but we’ll find out soon enough as that sort of information would be released.
how ’bout suncorp is fkt? …works for me.
Look at Albo, grinning ear to ear as he shakes hands with real Nazi’s.
This is the same fucker who will call others misogynist, toxic, hateful etc etc.
Shameless…
I get sending them money because the empire has decided to support a proxy war against Russia. Ok.
But do you have to get so up close with those slimy scum?
Luckily the Russians remember how to deal with Nazi’s.
Things are pretty fucked up at the moment.
.
Pretty much
I think I must be cognitively inversely advantaged. I never got the memes with the face as this.
I don’t believe the age at the best of times, but I’m now just going to start terming this voluntary euthanasia.
https://www.theage.com.au/national/nsw/more-than-half-a-million-get-fourth-dose-as-cases-rise-20220718-p5b2hk.html
This is absolute madness! Don’t know if you caught this, but is certainly “following the science”.
https://www.zerohedge.com/covid-19/watch-mask-mandate-looms-la-hospital-officials-ridicule-covid-media-hype
The first four minutes of the Twitter video was the most enjoyable viewing I’ve had for years.
https://twitter.com/i/status/1548367588291330048
I wonder if the Chief Medical officer of Los Angeles County and University of Southern California Medical Center, and the Epidemiologist, will now be de-platformed, and struck off their professional register.
Plenty of precedent for those who refuse to “follow the science”.
Thanks for sharing, great video.
In Australia they are starting to combine covid and flu cases to juice the numbers.
Chances are flu related hospitalisations that went unreported for, well, since the dawn if the reporting are now reported as co19 cases.
I’m hearing reports that Covid testing sites are being repurposed as cold&flu testing sites.
seriouslu.
apparently pcr test now includes test for flu et cie, as reported by my mates whom just survived the wicked dangerous virus which can kill near-dead and those with 2 feet in the grave or those in the very late stage of terminal illness or those aged over 89 yrs but are not healthy.
Great video indeed.
so at odds with general hyperventilating panicky doom-laden media reports that it comes across almost as satire!
epidemiologist with the big mustache – he don’t give a shit!
Roll up roll up get your death jabs now
Inflation in NZ running hot, hot, hot.
Are any morons still suggesting rates will top out in the 1.5-2% range or are those days long gone?
Still possible in Australia, but the RBA surely knows to push to the 3%+ range is basically asking to bankrupt thousands of families, unless there is some sort of support directly offered
If we hit 4% surely it’s game over and a mass nationalisation of the housing market
Interesting times ahead
Black rock to the rescue!
The Australian electorate was offered, in 2019, remedial policies in the areas of Superannuation, Negative Gearing, Capital Gains, and other areas of taxation which distorted the allocation of capital and diverted large capital flows into the housing market.
The Australian electorate was offered an opportunity to commence the incremental dismantling of the monster that was eating their future.
Had such policies been introduced, the housing market would have looked very different today.
But, the Australian electorate told the advocates of those policies to stick ’em where the sun don’t shine.
The Australian electorate is now where they consciously chose to be.
They were also offered infinite indian grandmothers as part of the package.
Fickle Strayans evidently don’t remember that very bad downside of Bill Shorten’s plans ..
No need to nationalise, I’ll buy 2 houses at 60-70% discount.
That just moves the nationalisation onto the banks…
It’s too bad they’re constrained by what the rest of the world is doing!
All the more reason why they probably won’t jack rates up to the moon. Don’t need to I’d bind markets have done the heavy lifting for you.
The RBA will keep raising rates until it is slightly uncomfortable for the elites ie lower bonuses for executives. Bankrupting familiar is merely collateral damage as there are thousands more arriving each month.
Yeah but negative feedback loop by that point would be huge and very difficult to stop. It would also be placing massive pressure on the Albo government to do something to support, such as reinstating interest only, temp mortgage payment deferrals etc
I have a slightly different theory: they permanently and deliberately continue to stay 6 months behind the RBNZ and BOC to see what happens there and where the limit is
yes, this is an element in what I have been suggesting that we do.
Just Leefo and his jerk mate
I have lost track of the latest thing. Here I was thinking inflation was the number one issue, but no it is Covid. Apparently we are having a wave of cases, yet daily case numbers have barely changed for months.
Everyone is talking about the cost of everything going up, hey, look a distraction!
Feels like it doesn’t if, the latest weekly panic designed to monetise eyeballs and district from the longer term shitshow unfolding
Something is killing Victorians at a much higher rate than usual. Source.
Wow, and this is after 200,000 people moved to Brisbane?!
the per-capita rate must be pushing up against the ceiling!
edit: https://www.abc.net.au/news/2022-03-29/covid-pandemic-victorian-population/100948120
official number is about 45,000. But it would be closer to 200,000 once you add in all the illegals.
Health system is failing
due to isolation rules, protocols etc
I think it would be a combination of delayed treatment of other diseases throughout COVID, COVID itself, COVID vaccines, even more slovenly lifestyle, finanicial pressure on punters.
Died suddenly or unknown seems to make up the bulk of the deaths which I infer to be caused by the vaccines as that is their cover it up line.
+ monthly ambulance code reds
Uber Eats, Netflix and lack of finanicial education?