Media worth consuming – February 2024

Top Six Articles

Government is a substantial drag on productivity, exacerbated by it being an expanding share of the Australian economy.

Australia should be looking to seniors to fill the supposed labour shortage, not migrants.

American governments have taken over many of the Mob’s most profitable ventures.

The UK’s online disinformation legislation criminalizes the publication by individuals of information they know to be false, while mainstream media remains free to intentionally publish false information without consequence.

China’s ambassador to the United Nations has denied Palestinian attacks on Israelis are terrorism, a bizarre statement from a government with a long history of repressing minorities.

The American Bitcoin Academy gave investors a real lesson in cryptocurrencies; they handed over their money only to lose everything when the Bitcoin owned by the fund was stolen.

Finance

The Nikkei 225 stock index has finally surpassed its 1989 peak. Reverse stock splits in America have soared as once hyped stocks have collapsed and need to inflate their share prices to avoid delisting. A Delaware court has voided Elon Musk’s $55 billion option package granted in 2018.

In the space of 24 hours, banks in the US, Japan and Switzerland disclosed significant losses on commercial real estate loans. An American ETF claims it can deliver bond like returns as capital gains via options strategies, substantially reducing the tax payable. A history of private credit.

Private equity firms are worried about incentive fees being clawed back as they delay the realisation of investments. Private equity returned its lowest share of capital to investors in 2023 since the Financial Crisis, prompting many investors to decrease their allocations to new fundraisings. Secondary sales of timeshare units are regularly advertised for $1, but the buyers are committing to pay sizeable annual maintenance fees.

A Hong Kong judge ordered the liquidation of Evergrande, once China’s largest property developer. Offshore investors in Evergrande are set to be scorched with the debt now trading at 1% of face value, while onshore investors receive preferential treatment in recoveries. The Chinese regulator has suspended a quant fund from trading for three days for a rapid selldown that sent share prices lower.

Politics & culture

Australian mainstream media largely refuses to talk about the obvious evidence that record migration is making housing unaffordable. Sydney is suffering a brain drain because of excessive migration, which causes house prices and rents to soar, leading people to move interstate for cheaper housing. Australian politicians own too many properties to consider meaningful reform that would make housing affordable. Scott Morrison’s greatest achievement was standing up to the Chinese Government, bringing global attention to its aggressive and repressive practices.

The Biden Administration pressured banks to monitor customers who shopped at Bass Pro, purchased religious materials or who used terms such as “Trump” or “MAGA”. A Canadian court ruled that Justin Trudeau’s use of emergency powers against protesting truck drivers and their supporters was unjustified and excessive.

An America judge dismissed rioting charges against two white nationalists ruling that the Californian government engaged in selective prosecution. Google’s AI image tool is being criticised for generating historically inaccurate images, including Black, Asian and female Nazi soldiers. The BBC is facing a wave of internal complaints alleging antisemitism with one employee having left after her blatant racism became public.

A high school girls’ basketball game in Massachusetts ended with a forfeit after a biological male injured three girls on the opposing team. The Newcastle United soccer club banned a woman from attending games due to her online posts about transgender issues.

Economics & work

Long term data from the US demonstrates that low interest rates make housing less affordable. High inflation is linked to an increase in crime, corruption and financial speculation. Argentina recorded its first monthly budget surplus in 12 years. A comparison of Chile and Venezuela shows that free markets deliver far more prosperity than socialism.

Miscellaneous

Six lifestyle changes that can significantly increase your lifespan. A Washington DC man is suing the lottery office after his ticket matched the winning numbers for a $340 million prize on their website, but the lottery office claims its website was wrong.