PAP should invite him here to tell off the many loser local Sinkies, forever dreaming about cho boh lan $10K a month job with ‘work life balance’.
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Serious AMDK tell HKie Kia to Fuck Off Find a Job
- Thread starter Pinkieslut
- Start date
PAP should invite him here to tell off the many loser local Sinkies, forever dreaming about cho boh lan $10K a month job with ‘work life balance’.
The traveler is right. The young farkers should go get a job and stop wasting everyone's time and convenience. What the fark are they talking about Hong Kong being a country on its own? It is, and forever will be, a part of the motherland. Just waiting for China to unleash their tanks and troops on these mudderfarkers.
Perhaps this kangaroo should look at his own backyard and see the unemployment n homeless figures b4 kpkb at ppl in their own country...
Wage and unemployment numbers set to pressure RBA to cut interest rates again
Sun at 7:11am
PHOTO Another batch of weak wage and jobless numbers this week could force another rate cut. REUTERS: DANIEL MUNOZ
Reserve Bank governor Philip Lowe's thesis that the "economy may have reached a gentle turning point" looks like getting a brutal reality check.
Two of the RBA's greatest irritants — unemployment and wage growth — are updated this week; and if forecasts are correct, they are likely to exhibit a turn for the worse.
The consensus view of market economists is the unemployment rate will tick up again, this time to 5.3 per cent.
February's 4.9 per cent seems a long time ago.
The RBA's ideal of full employment at 4.5 per cent is not even on the radar — 5 per cent is as good as Dr Lowe's economic modellers can see, and that's still years away at the extremity of their forecast vision.
As for wages, the best anyone can come up with is that wage inflation over the first quarter, as measured by the Wage Price Index (WPI), won't be much worse than any of the previous quarters' very soft results.
The market has pencilled in another quarter 0.5 per cent wage growth; barely enough to hold the WPI at 2.3 per cent over the year.
Data collated by the Attorney-General's department points to completed enterprise bargaining agreements delivering even lower outcomes in the first quarter.
Given the standard EBA runs three years, and the trend of the past six months — particularly in the construction and public sectors — has been for a steep erosion in outcomes, weak wage growth looks locked in for some time.
RBA winds back forecasts
Westpac's Bill Evans says there is little to suggest there has been a meaningful acceleration in wages.
"Wage inflation has lifted off its record low of 1.9 per cent a year in June 2017, but running at 2.3 per cent in March 2019 it can hardly be described as a breakneck pace," Mr Evans said.
"We expect wage inflation to drift higher from here — our forecasts have it peaking around 2.75 per cent a year in late 2020 — but given how well contained wage inflation is across the nation, and between sectors, even this modest increase looks optimistic, with the risks meaningfully skewed to the downside."
WPI vs EBA
The low wage outcomes are a big factor in the RBA continually undershooting its inflation target. It also puts a brake on household consumption and ultimately the entire economy.
While the RBA's cuts to its GDP growth and unemployment forecasts last week gained most attention, household consumption growth was also pruned back from 2 per cent this year to just 1.5 per cent — not exactly great news for struggling retailers.
'Wait and see'
With everything being wound back, it was fairly obvious the RBA would also wave the white flag on a somewhat heroic punt on wages growth.
There appears to be little sense of urgency about the future of either the domestic or global economies, with the RBA happy to sit back and watch the magic of its June and July rate cuts work.
"It [the RBA board] judged that after having moved twice in quick succession it was appropriate to wait and assess developments both internationally and domestically," Dr Lowe told the MPs.
However, the RBA's downgraded internal forecasts paint a slightly different picture — slackness in the labour market, stagnant wages growth and chronically sub-target inflation.
Another disappointing batch of unemployment and wages data this week is likely to snap the RBA out of "wait and assess" mode and back to the old cutting board, sooner rather than later.
Market slide of trade jitters
Wall Street traders thought it would be wise to offload risk ahead of the weekend as another batch of trade-related comments from the White House left them somewhat confused and on edge.
Central to the new anxieties is the fate of the next round of US-China trade talks scheduled for next month.
"We're talking with China. We're not ready to make a deal — but we'll see what happens," US President Donald Trump told reporters on his way to a fundraiser.
"China wants to do something, but I'm not ready to do anything yet. Twenty-five years of abuse — I'm not ready so fast, so we'll see how that works out," Mr Trump said.
The key US indices recovered a bit after a sharp initial Friday sell-off. After a volatile week, they ended up roughly where they started.
The ASX had a much rougher time, down almost 3 per cent — its worst week since November last year. Futures trading point to a less than robust start on Monday.
Commodities hammered
The escalating US-China tensions' impact on equity markets has been modest compared to the pain being felt in trade-sensitive commodities.
Over the week, oil's global benchmark, Brent Crude, fell more than 5 per cent. It's down about 20 per cent from its April peak.
The slide may well become more pronounced as the International Energy Agency (IEA) again cuts its forecast for global oil demand.
"The prospects for a political agreement between China and the United States on trade have worsened. This could lead to reduced trade activity and less oil demand growth," the IEA said it monthly oil market report.
Iron ore fared worse, down almost 15 per cent for the week. Iron ore futures in the Dalian market have now fallen for seven consecutive days.
Then there's wool, another staple of Australia's export effort. It dropped more than 4 per cent last week to be down about 16 per cent from this time last year.
"All that good work was overshadowed by the increasing global economic uncertainty associated with the trade disputes between the US and China, in particular the US and India, rising tension between with Iran, the downward pressures on interest rates and the unknowns arising from Brexit," Dr Morgan said.
"As always in such circumstances, commodity prices come under pressure, except for gold, which moves up."
Profits a worry too
Interestingly, the big French investment bank Societe Generale (SG) says the US is staring down the barrel of a recession next year.
However, the trade war is more a catalyst in its analysis. The key factor is shrinking corporate margins and profits.
"If the US enters a recession in the next year, history is very likely to view it as a trade-war recession," SG's US economist Stephen Gallagher, said.
"Our analysis is that the weak profit structure in the US has made companies much more sensitive to any shock, higher costs and uncertainty.
"Monetary policy has become more accommodative, and Fed officials are expected to cut rates further. Whether or not the policy response is sufficient to forestall a recession remains to be seen," Mr Gallagher said.
Australia
Date Event Comment
Monday
12/8/2019
Companies reportingAnsell, Aurizon, Bendigo & Adelaide Bank, GPT, JB Hi Fi
Tuesday
13/8/2019
Business surveyJul: Conditions picked up a bit but remain well below trend and confidence reversed an immediate post-election bounceCompanies reportingChallenger, Magellan
Wednesday
14/8/2019
Consumer confidenceAug: Confidence has fallen in the previous two readings, despite or perhaps because of, the RBA's cutsWage price indexQ2: Still soft, forecast to grow 2.2pc YOY (down from 2.3pc) as stronger private sector outcomes are offset by slower growth in the public sectorRBA speechDeputy governor Guy Debelle speaks on "Risks to the Outlook"Companies reportingComputershare, CSL, Dexus, H,T&E (formerly APN), Tabcorp, Vocus, NAB (Q3 update)
Thursday
15/8/2019
Employment/unemploymentJul: Market forecasts 20K new jobs & unemployment steady at 5.2pcAverage weekly earningsBiannual measure of wage growth, broader and more volatile than WPI, as measures structural changes in the jobs market and things like fringe benefitsTourism dataJun: Arrivals are picking upCompanies reportingASX, Blackmores, Evolution Mining, Invocare, QBE, Super Retail, Sydney Airport, Telstra, Treasury Wine Estates, Whitehaven, Woodside
Friday
16/8/2019
Companies reportingCochlear, Domain, Newcrest, Star Entertainment Overseas
Date Event Comment
Monday
12/8/2019
US: Budget statementJul: Still running a big deficit around $US115b
Tuesday
13/8/2019
US: InflationJul: Still weak, but headline inflation boosted by fuel and core inflation by wagesUS: Small business sentiment
Wednesday
14/8/2019
CH: Monthly economic dataJul: Mixed. Infrastructure investment may be boosted by property construction, industrial production and retail sales softerEU: GDPEU: Industrial productionPMIs point to sharp contraction
Thursday
15/8/2019
US: Retail salesJul: Modest rise forecast, largely due to higher fuel prices but also higher wagesUS: Industrial productionJul: Manufacturing surveys point to softer productionUS: Housing market surveyAug: May have picked up after recent softness in sentiment from home buildersCH: New home pricesJul: Up more than 10pc YOY
Friday
16/8/2019
US: New home startsJul: Tipped to reboundUS: Consumer confidenceAug: US consumers are pretty optimistic at the moment
Wage and unemployment numbers set to pressure RBA to cut interest rates again
Sun at 7:11am
Reserve Bank governor Philip Lowe's thesis that the "economy may have reached a gentle turning point" looks like getting a brutal reality check.
Two of the RBA's greatest irritants — unemployment and wage growth — are updated this week; and if forecasts are correct, they are likely to exhibit a turn for the worse.
The consensus view of market economists is the unemployment rate will tick up again, this time to 5.3 per cent.
February's 4.9 per cent seems a long time ago.
The RBA's ideal of full employment at 4.5 per cent is not even on the radar — 5 per cent is as good as Dr Lowe's economic modellers can see, and that's still years away at the extremity of their forecast vision.
As for wages, the best anyone can come up with is that wage inflation over the first quarter, as measured by the Wage Price Index (WPI), won't be much worse than any of the previous quarters' very soft results.
The market has pencilled in another quarter 0.5 per cent wage growth; barely enough to hold the WPI at 2.3 per cent over the year.
Data collated by the Attorney-General's department points to completed enterprise bargaining agreements delivering even lower outcomes in the first quarter.
Given the standard EBA runs three years, and the trend of the past six months — particularly in the construction and public sectors — has been for a steep erosion in outcomes, weak wage growth looks locked in for some time.
RBA winds back forecasts
Westpac's Bill Evans says there is little to suggest there has been a meaningful acceleration in wages.
"Wage inflation has lifted off its record low of 1.9 per cent a year in June 2017, but running at 2.3 per cent in March 2019 it can hardly be described as a breakneck pace," Mr Evans said.
"We expect wage inflation to drift higher from here — our forecasts have it peaking around 2.75 per cent a year in late 2020 — but given how well contained wage inflation is across the nation, and between sectors, even this modest increase looks optimistic, with the risks meaningfully skewed to the downside."
WPI vs EBA
The low wage outcomes are a big factor in the RBA continually undershooting its inflation target. It also puts a brake on household consumption and ultimately the entire economy.
While the RBA's cuts to its GDP growth and unemployment forecasts last week gained most attention, household consumption growth was also pruned back from 2 per cent this year to just 1.5 per cent — not exactly great news for struggling retailers.
'Wait and see'
With everything being wound back, it was fairly obvious the RBA would also wave the white flag on a somewhat heroic punt on wages growth.
"The motivation behind this decision, which must be very disappointing for the RBA Governor given his strong focus on lifting wages growth, is firstly due to the RBA's own liaison program which shows that the majority of firms anticipate little change in wages growth over the next year," Mr Evans said.
Dr Lowe's basic proposition to the Parliament's economics committee on Friday was the economy would "strengthen gradually after a run of disappointing [GDP] numbers".There appears to be little sense of urgency about the future of either the domestic or global economies, with the RBA happy to sit back and watch the magic of its June and July rate cuts work.
"It [the RBA board] judged that after having moved twice in quick succession it was appropriate to wait and assess developments both internationally and domestically," Dr Lowe told the MPs.
However, the RBA's downgraded internal forecasts paint a slightly different picture — slackness in the labour market, stagnant wages growth and chronically sub-target inflation.
Another disappointing batch of unemployment and wages data this week is likely to snap the RBA out of "wait and assess" mode and back to the old cutting board, sooner rather than later.
Market slide of trade jitters
Wall Street traders thought it would be wise to offload risk ahead of the weekend as another batch of trade-related comments from the White House left them somewhat confused and on edge.
Central to the new anxieties is the fate of the next round of US-China trade talks scheduled for next month.
"We're talking with China. We're not ready to make a deal — but we'll see what happens," US President Donald Trump told reporters on his way to a fundraiser.
"China wants to do something, but I'm not ready to do anything yet. Twenty-five years of abuse — I'm not ready so fast, so we'll see how that works out," Mr Trump said.
The key US indices recovered a bit after a sharp initial Friday sell-off. After a volatile week, they ended up roughly where they started.
The ASX had a much rougher time, down almost 3 per cent — its worst week since November last year. Futures trading point to a less than robust start on Monday.
Commodities hammered
The escalating US-China tensions' impact on equity markets has been modest compared to the pain being felt in trade-sensitive commodities.
Over the week, oil's global benchmark, Brent Crude, fell more than 5 per cent. It's down about 20 per cent from its April peak.
The slide may well become more pronounced as the International Energy Agency (IEA) again cuts its forecast for global oil demand.
"The prospects for a political agreement between China and the United States on trade have worsened. This could lead to reduced trade activity and less oil demand growth," the IEA said it monthly oil market report.
Iron ore fared worse, down almost 15 per cent for the week. Iron ore futures in the Dalian market have now fallen for seven consecutive days.
Then there's wool, another staple of Australia's export effort. It dropped more than 4 per cent last week to be down about 16 per cent from this time last year.
"Blood everywhere and none of it due to wool factors," was the blunt summary from industry veteran Peter Morgan.
Dr Morgan, who is the executive director of Australian Council of Wool Exporters and Processors, said global tensions were weighing heavily on the market."All that good work was overshadowed by the increasing global economic uncertainty associated with the trade disputes between the US and China, in particular the US and India, rising tension between with Iran, the downward pressures on interest rates and the unknowns arising from Brexit," Dr Morgan said.
"As always in such circumstances, commodity prices come under pressure, except for gold, which moves up."
Interestingly, the big French investment bank Societe Generale (SG) says the US is staring down the barrel of a recession next year.
However, the trade war is more a catalyst in its analysis. The key factor is shrinking corporate margins and profits.
"If the US enters a recession in the next year, history is very likely to view it as a trade-war recession," SG's US economist Stephen Gallagher, said.
"Our analysis is that the weak profit structure in the US has made companies much more sensitive to any shock, higher costs and uncertainty.
"Trade tensions and tariffs are more damaging when margins are thin and companies are unable to absorb rising costs."
So will the Federal Reserve's easy monetary policy come to the rescue?"Monetary policy has become more accommodative, and Fed officials are expected to cut rates further. Whether or not the policy response is sufficient to forestall a recession remains to be seen," Mr Gallagher said.
Australia
Date Event Comment
Monday
12/8/2019
Companies reportingAnsell, Aurizon, Bendigo & Adelaide Bank, GPT, JB Hi Fi
Tuesday
13/8/2019
Business surveyJul: Conditions picked up a bit but remain well below trend and confidence reversed an immediate post-election bounceCompanies reportingChallenger, Magellan
Wednesday
14/8/2019
Consumer confidenceAug: Confidence has fallen in the previous two readings, despite or perhaps because of, the RBA's cutsWage price indexQ2: Still soft, forecast to grow 2.2pc YOY (down from 2.3pc) as stronger private sector outcomes are offset by slower growth in the public sectorRBA speechDeputy governor Guy Debelle speaks on "Risks to the Outlook"Companies reportingComputershare, CSL, Dexus, H,T&E (formerly APN), Tabcorp, Vocus, NAB (Q3 update)
Thursday
15/8/2019
Employment/unemploymentJul: Market forecasts 20K new jobs & unemployment steady at 5.2pcAverage weekly earningsBiannual measure of wage growth, broader and more volatile than WPI, as measures structural changes in the jobs market and things like fringe benefitsTourism dataJun: Arrivals are picking upCompanies reportingASX, Blackmores, Evolution Mining, Invocare, QBE, Super Retail, Sydney Airport, Telstra, Treasury Wine Estates, Whitehaven, Woodside
Friday
16/8/2019
Companies reportingCochlear, Domain, Newcrest, Star Entertainment Overseas
Date Event Comment
Monday
12/8/2019
US: Budget statementJul: Still running a big deficit around $US115b
Tuesday
13/8/2019
US: InflationJul: Still weak, but headline inflation boosted by fuel and core inflation by wagesUS: Small business sentiment
Wednesday
14/8/2019
CH: Monthly economic dataJul: Mixed. Infrastructure investment may be boosted by property construction, industrial production and retail sales softerEU: GDPEU: Industrial productionPMIs point to sharp contraction
Thursday
15/8/2019
US: Retail salesJul: Modest rise forecast, largely due to higher fuel prices but also higher wagesUS: Industrial productionJul: Manufacturing surveys point to softer productionUS: Housing market surveyAug: May have picked up after recent softness in sentiment from home buildersCH: New home pricesJul: Up more than 10pc YOY
Friday
16/8/2019
US: New home startsJul: Tipped to reboundUS: Consumer confidenceAug: US consumers are pretty optimistic at the moment
Don't waste your time talking to thugs lah
A man convinced against his will is of his opinion still.
There is no point reasoning with the protestors anymore.
Only one outcome. We all know it. The protestors know it.
China is hoping the situation gets a lot worse before they take action. That way they will look like the good guys restoring order in Hong Kong from the brink of utter destruction. It is good politics.
The protestors if smart should back off now. But so far I have not seen or heard any singular figure leader that represents them.
There is no point reasoning with the protestors anymore.
Only one outcome. We all know it. The protestors know it.
China is hoping the situation gets a lot worse before they take action. That way they will look like the good guys restoring order in Hong Kong from the brink of utter destruction. It is good politics.
The protestors if smart should back off now. But so far I have not seen or heard any singular figure leader that represents them.
Yah rite mate, cheers.
This aussie should just hustle back to guangzhou, put some shrimp on the barbie, and enjoy his imported Foster's or Swan or XXXX.
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These bastard protestors should be whipped and chained up to the electric chair.
Bet half of them have never put in a honest day of work in their pathetic lives.
Bet half of them have never put in a honest day of work in their pathetic lives.
for once I agree with violence. this prick should shut up and fark off.
their ticket to the west is asylum if tanks roll in. they know what they are doing. but it will be ironic when they need the same airport to function again for them to escape on a flight out of hongkang. you may see them in alberta soon.
It's the same as reasoning with @ginfreely. It gets nowhere and frustrate you even more. Why waste time talking to people who are incapable of reasoning
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At least Honkies 18 y.o. speak betterer English than Sinkie....
This is jiuhu kia Hokkien English...
This is 18 y.o Sinkie army boys English... kanna sia..
.
This is jiuhu kia Hokkien English...
This is 18 y.o Sinkie army boys English... kanna sia..
.
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Nope. Remember it is CHINA that you are talking about. They are like NK. They rather shoot you than let you run on "asylum".
Hong Kong will undergo crackdown. Curfew. Short term pain, long term gain for China.
If this works, be prepared for the same strategy to be applied to Taiwan. Create unrest, unhappiness, dissent. Plant seeds of uprising. Overwhelm the local law enforcement. Break the country apart in opinion. Come in and save the day.
China is scum. But they are damn smart.
Remember that despite China having a billion people, even at their worst economic times, there were no Chinese refugees en masse. Not after the CCP took over. So that tells you it won't happen. Same with NK. You hear all those South Americans and Syrians traveling by foot for asylum. You don't see any North Koreans doing that do you?
All the Chinese who have migrated have done so through proper routes.
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Yep. I agree.
Whatever happens in the end, the hongkies have shown to CCP that they are no pushovers and won't just accept anything shafted to them. Whatever the CCP thought would take, will now take more effort and coercion. Kudos to them..
Meanwhile...... LHL: "We will raise retirement age to help Sinkies.. no ifs, no buts and motion passed! Well done..With you, for you"
Meanwhile...... LHL: "We will raise retirement age to help Sinkies.. no ifs, no buts and motion passed! Well done..With you, for you"
You underestimate the CCP. This WAS their plan all along.
It makes no sense that the people would rise up and cause SO MUCH CHAOS all because of some bill to extradite terrorists to the mainland.
CCP has planned all this chaos. It is their own agents causing this problem.
CCP needed a diversion from its economic woes and disputes with the USA. So Hong Kong was chosen. It was time for them to abolish the 2 systems nonsense.
Hong Kong is an easier target given it is already part of China. The same model will be applied to Taiwan in the future. You don't always have to go to war.
Let the country defeat itself. CIA did it as well with Libya. Egypt.
The protesters have no idea of what they are fighting for ... so vague and so unclear of what they want ... I fear that they are just asking for trouble.
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