Narcissism

Pro-Trump crowds in London?

https://m.youtube.com/watch?v=ZB4kjp8irRw&feature=youtu.be

CM was asked to provide proof that there were more than a few people supporting Trump on his visit to London. Naturally the mainstream media just covered the angry mobs and the baby balloon.

Of course many pro-Trumpers prefer to drink, not wear milkshakes. Or as BBC comedian Jo Brand suggested to people of his ilk (i.e. Nigel Farage) that battery acid should be thrown instead. Great joke in a city where acid attacks are almost a twice a daily occurrence.

The sheer stupidity of the self-entitled generation

Incredible that these Trump Derangement Syndrome sufferers think it appropriate to fly the Trump balloon during D-Day commemorations. This millennial numbskull must have no clue of history if she can draw an equivalence of defeating concocted fascism in 2019 vs the 50,000,000 that died as a result of trying to prevent it.

The left is so unhinged. These activists might profess to know more than WWII veterans about facism as it is staring at them in the mirror every morning but what disrespect to suggest their clueless self entitled lives, afforded by the very sacrifices of these brave veterans, could understand what they endured. CM wrote about ‘Staring at the dictator‘ last year.

So much for leading by example.

Perhaps reading some letters from CM’s grandfather who articulated the realities of war from the frontline.

TOBRUK – 1941

We were wakened by the drone of Italian bombers which have a distinctive note and easily recognizable at night…we heard 1/2 dozen explosions & wondered what they would be bombing…about 30 minutes later we got a message to go immediately to the prisoner of war compound as they had been bombed…

…it was a most ghastly sight imaginable. The prisoners without blankets were huddled together for warmth and had lit fires and their own planes had dropped big 500lb bombs…

…there were bits of bodies everywhere, like a slaughterhouse – brains, livers, arms, trunks. I couldn’t describe it. The bombs landed right into the huddled mass of prisoners & blown them to pieces. The doctors and the boys worked like Trojans doing amputations in the field. Arms and legs were put in a stack like a wood heap and to make it worse some desert dogs were having a feast on the remains. On of our blokes was doing an Italian, who had his arm just hanging by a bit of tissue, hacked the arm off with a jack knife. When he returned a bloody dog had the arm in his mouth. And was streaking over the hill when an MP shot it with his revolver. We worked all that day and through the night & done around 300 operations on the spot. Near one bomb crater we shoveled bits and pieces in the hole and covered it in…it is not so much the shrapnel but the concussion that does the damage”

CRETE -1941

”we were in an olive grove with wounded men under every tree before we got word to get going and they gave us hell here, the guns tipped toward the men under the trees and straked is with machine guns. I nearly took a soilly here. I heard a plane roaring down & looking up saw a Messerschmitt 109 diving straight for me. You should have seen me move. I dived for the nearest tree and just got there before he opened up with his machine guns (6 of them, 3 in each wing).  The chatter of them was deafening as he flew as low as 100ft from me, the b———-d…any man on Crete who never prayed was a bloody liar…

…anyway I had the job of getting 300 walking wounded to the beach which was 45 miles away (they told us 7)…what a march keeping our movement secret & taking cover by day and moving only at night…the hours of daylight would drive you crazy…a road was being done over by Junkers 87s and heard Jerries trench mortars landing very close so I said to Kev & Bill “let’s go” daylight or not I was moving. Bill told me he’d had enough and couldn’t stand it any longer then I noticed for the first time he was bomb happy (shell shock) his head was  nodding nineteen to the dozen, eyes staring and hands shaking…

…water was scarce. My mouth like blotting paper and we were in rotten condition until we came across a bombed truck so we drank the radiator water (rust, oil and all). It was like nectar…I never thought hunger was so crook…I couldn’t keep my mind off food, even dreamt of it and of the crusts I’d wasted (Kev admitted the same)

NEW GUINEA – 1942

Meanwhile Private Jenkins was sent through by jeep to act as a guide…however about 50yds from the corner; a sustained burst of MG fire whistled around us which was tragically funny as I looked behind to see the boys moving up the track. After the burst I dived for cover in the tall Kumai grass and when I looked back there wasn’t a man to be seen because when I dived they all dived too. We stayed about 1/4 hour and I decided I couldn’t stay all day so I decided to risk it and make a dash for it…a man every two minutes…without mock heroics my knees were knocking as I got to my feet and darted 200 yards long and expected to get one in the guts at any moment…

…to my sorrow around the corner we came across poor George Jenkins who had been the guide- shot-our first casualty and we’d only been in the place 5 minutes and a sniper had got him. The bullet had plowed through his scalp from ear to eye and his face was a mess. Poor bugger. All he was worrying about was that he wasn’t able to tell us about the snipers and was we alright? I slipped a shell dressing on his skull and carried him back – lucky bugger he’ll go home now…

…this bloody war is a terrible mental strain. You can get shot anywhere with snipers (who never live more than two hours anyway after they’ve climbed the trees) because our boys comb the branches with Brens and they dangle like rabbits from their perch). I’ve lost about 2 stone since I’ve been in action here. It’s tough believe me….

….as we were coming back (it was dark) I am in front treading safely- a stick cracks and we prop, listen and sneak on. When I tripped over a wire stretched across the path I went cold with terror – a booby trap…I flopped to Mother Earth waiting for the explosion – which never materialized. Quickly as possible we moved on fearing a delayed action grenade…the trouble with the front line is that it is so fluid that they are everywhere…

Another letter from New Guinea

Are we giving the Japanese fighting boys a belting!!…yesterday when our 25 pounders started up behind us was it accurate? I’ll say. The Japanese scattered in all directions squealing like girls were blown to shred..they hate our mortars. You can hear them quite plainly in the bush screaming and squealing like animals when our mortars lob on them and as they bunch together like sheep and don’t disperse it’s like shooting clay pigeons…

...I’m not exaggerating when I tell you the fighting is going on at a 20 yard range yet you can’t see them and they can’t see us. A patrol will he on the track and meet a patrol of Japanese suddenly 5 yards away. It’s a case of whose quicker on the draw. Our boys have really got Nippon beat at this game they seem dull witted and before they wake up, our blokes have generally riddled them…

…I’m applying for a recommendation for decoration for two of my blokes – Nicol and Lennar to the OC as they’ve done a marvelous job. Hope they click although honestly every man in the show deserves one

Lest we forget.

Ryde Council declares a Climate Emergency

The real purpose of a local council is to dispose of household waste, keep local parks tidy and ensure toilet paper is installed in public lavatories. Outside of that, there is little local residents require from local councils other than on-street parking permits or onerous red tape when seeking housing renovation approvals. Maybe maintain the local library.

It was reported yesterday that the Ryde Council declared a “climate emergency“. As we can quickly work out, this is nothing more than joining the global Extinction Rebellion style virtue signalling with zero substance. Will Ryde ratepayers be asked to sponsor Greta Thunberg or Al Gore to lecture the council on climate matters?

Referring to the Annual Report 2018 financials section one can see that it spends on what it terms “Environmental Programs” a grand sum of $547,000, down from $556,000 the previous year. To put that in context of budget expenditure, this climate fearing council spends, wait for it, 0.34% of the total annual revenue. Put your money where your mouth is Ryde! Unfortunately, that was down from a slightly less pithy fraction.  Nonetheless, it grandstanded with,

This includes a commitment to divest its investment portfolio from fossil fuel-aligned financial institutions, supporting renewable and clean energy solutions and becoming one of the first councils to phase out single-use plastics.

Was this requested by ratepayers? Sadly the council will never be able to phase out single-use plastics as the overwhelming majority of household waste is disposed of in single-use plastic bags because the supermarkets caved in allowing residents to reuse plastic shopping bags.

CM shudders to think how huge the investment portfolio of Ryde Council could be? Yet why pick on financial institutions? It sounds as if it believes it carries the might of some massive sovereign wealth fund that can rattle the cages of capitalism via its activism! It is unlikely that even if it sold those investments ‘at market’ that the present liquidity would absorb it in a heartbeat.

In the “Our Vision for Ryde 2028” piece, “climate” is mentioned 7 times. “Emergency” is mentioned zero times. “Sustainable” 18 times. “Environment” 20 times. Run of the mill council stuff. Many of the ‘environment’ words are not actually related to climate in any way. Still, for a 2019 document, where was the climate emergency?

The same report cites under the heading of ‘Climate Change‘, with absolutely no proof to substantiate it,

Over the coming decade, natural hazards such as heatwaves, increased overnight temperatures and increased “hot” days during the year, as well as the frequency of extreme rainfall events and high-intensity storms are expected to accelerate as the climate changes.”

In a never-ending push to make the local council more relevant, Mayor Jerome Laxale profile of the Annual Report proudly notes, “He also initiated Council’s entry into social media, its partnership with Australia’s Racism it stops with me! campaign led a national push against changes to the Racial Discrimination Act.”

Racism? 19.2% of Ryde’s population is of Chinese ethnicity according to the Census 2016. As a migrant city, 48.5% were born in Australia. So by definition, 51.5% weren’t. Stands to reason that the mayor is chasing a problem that probably doesn’t exist. 12.5% were born in China (excluding HK or Taiwan) which is 4x the NSW average, 3.9% born in Korea (5x the NSW average), 3.6% born in India (2x the NSW average), HK born at 2.4% (4x NSW average).

Did Ryde really require this leftist mayor to push against changes to the Racial Discrimination Act? Was it a burning issue where the majority were born outside the country? Do ratepayers that fork our $83.4m of rates each year want Laxale to focus on this nonsense?

This is just additional part of the growing trend of radicalised councils acting outside of their remits Remember the two councils (Yarra and Darebin) in Melbourne who went out of their way to ask their own activist groups to rig polls to cancel Australia Day. Forgetting the 220,000 residents across the two cities, a handful of people who were bound to give the desired response were targeted. Even then it wasn’t a slam dunk. One mayor said they made the decision because their constituents are too ignorant of history so they were going to educate them without their opinion. When breaking down the composition of the councillors in these two cities it wasn’t a surprise. Both Greens led with a smattering of Labor, Socialist and left-leaning independents. The perfect cocktail for the totalitarian.

Just like those Melbourne local councils banning Australia Day, we now have Ryde looking to join the likes of Newcastle and the Inner West which think they are the axe on climate change based on what one Clr Christopher Gordon said,

We have scientists telling that us in the next 20 years, we’ll be facing even more extreme climate problems as rising sea levels are estimated to displace tens of millions of people around the world.

This isn’t self researched conviction but flopping to the cause of activists and their echo chamber. Merely rattling off their empty rhetoric which has in the overwhelming majority of cases found to be false.

Perhaps if Clr Gordon called up those evil fossil-fuel aligned financial institutions he would quickly work out they are still lending to new property sites on the shoreline and that climate refugees are as has long been the case, a figment of their imagination.

The voices of local councils have always been largely irrelevant. Now they are merely an irritant.

Hypocritical Sadiq Khan embraces feminism

Sadiq Khan and feminism. What a laugh. His latest “Elle” sponsored video speaks volumes about his double standards. Since when did  we turn to Elle and Vogue for in-depth political analysis?  The mainstream media has left a void but to think fashion mags have filled the void! Does Khan honestly think that any American voter gives a damn what he thinks about domestic policy? One could be mistaken for thinking he has been watching Gillette commercials on a loop. What a surprise his video has received a 3:1 dislike rating on YouTube.

Did he not see the irony of fawning over a Pakistani political delegation to London at the time Pakistani Christian Asia Bibi was facing execution for blasphemy? Did he fight for the rights of women or Christians or diversity? Did he challenge the visitors? Not a peep.

Why was he silent when prominent Iranian human rights lawyer and women’s rights defender Nasrin Sotoudeh was given 33 years in prison and 148 lashes? She was only fighting for the rights for these women not to wear the hijab. Sadiq uttered not one word.

Where was his defence of comedian, John Cleese, for saying he doesn’t like cultures that believe in female genital mutilation? Yep, you guessed it.Nowhere.

Yet he feels vindicated to make a video about Trump’s views (shared by many Americans) on abortion, which is much more about late term than anything else. Don’t be surprised if pro-life people are disgusted that NY Mayor de Blasio happily lit up monuments and buildings to celebrate terminations right up to point of delivery.

Maybe Mayor Khan is upset with states like Georgia which want heartbeat bills when it comes to abortion. People could still go to another state that practices late term abortion to have the procedure? Did he think of that?

What about the rights of females in the womb who in certain countries get terminated, not because of medical emergencies but the cultural preference to have males? Are you for that?

Let’s look at the stats on abortion because CM guarantees Khan hasn’t a clue even though he professes wokeness.

Let’s look at the stats.

c.700,000 fetuses are terminated in America each year. Down from 1.4 million in 1990. Hardly stats to cheer about. Of course the arguments for a woman’s right to choose will always be thrown at pro-lifers. Yet allowing termination until birth?

Eurostat statistics on abortion reveal that Germany, France, UK, Spain and Italy alone terminate a combined 760,000 fetuses per annum. Across the EU-28 there are 1.25mn terminations. Without getting into a debate on abortion rights, the pure statistical number points to 20.4% of fetuses never make it out of the womb alive.

According to the Guttmacher Institute some 56 million abortions occur annually. Every. Single. Year. Think that WWII saw 50 million deaths in 6 years of conflict with wide spread use of lethal weapons. So abortions kill at a far higher rate than global conflict.

Then he follows with a closing comment that “men and boys should be feminists” and discusses the disproven “gender pay gap” myth suggesting if you believe in gender equality then one is a “feminist“. CM believes in equal opportunity but don’t consider it feminist to believe in fairness. Kristina Keneally doesn’t believe in fairness! She’s happy for men to take a hit to progress her career despite her well known shortcomings.

Sorry Mayor, the data doesn’t support your theories and Trump has never once had a policy platform that discusses the gender pay gap because America focuses on equal opportunity, not equal outcomes. Maybe you should watch Oprah, the highest paid TV host globally. Maybe then see whether Dr Phil has a right to complain why he is not getting equal pay for equal work?!?

In rare support of Nike

Who could forget Nike’s political stunt in favour of the kneelers supporting BLM? Recall the millions it paid Colin Kaepernick to tell us about the bravery of those sacrificing everything if they believed in it. Social justice is a thang at Nike, at least among the marketing department. Naturally, it provoked a lot of anger from real Americans who served their country, some who paid for it with their lives. Taya Kyle, the war widow of legendary sniper Chris Kyle, wrote a stern letter to Nike which was on the mark.

Now some are taking Nike to task over the sponsorship contracts it holds with superstars, especially females. Nike does not appear to sacrifice everything, especially when it believes it.

Six-time track and field Olympic gold medalist Allyson Felix penned an op-ed to The NY Times telling of the cold realities of re-contracting while considering having a child. Sadly the Nike contracting team is probably staffed with icy cold hard-nosed realists compared to the cuddly socially active marketing department.

33-yo Felix said Nike wanted to contract her 70% less after her pregnancy. She wanted the original value to stay in force even if she suffered slight underperformance in the months after childbirth. Her request is totally understandable. Surely Nike could have done some celebrity mother and child adverts to pluck at the heartstrings of the average person? Get all those mothers with newborns to sport a pair of Nike kicks and leotards as they push their strollers to yoga. Just the sort of mush that a marketing department craves.

High-end endorsements are extremely hard to get. The bigger the payout the higher the pressure and expectations thrust upon the star. Contracts are driven by athletic performance and the ability to drive sales off the back of it. These performance-based targets are likely to be written clearly in black and white. It sounds like Felix needed a much better sports agent to negotiate such clauses. Serena Williams had a child and her Nike endorsements rolled on unaffected. The tennis champ even narrated a “dream crazier” advert solely looking at women in sport.

Is Felix’s 70% haircut anything more than Nike’s endorsement team taking a view on her future performance when it comes to which brand ambassadors will keep driving sales? It must have made a judgement call that Felix was past her prime. If we looked at all the females sponsored by Nike, what rank is she within the long list of names? Usain Bolt hung up his golden boots at age 30.

It is unclear how many millions that Felix received from Nike every year. Sponsorship is slightly different from employment. There are lots of caveats in sports contracts which ensure that athletes behave responsibly “outside” the game to reflect the values of the organisation. One might feel some pity that the choice to have a child ruined her contract terms but Nike has not done anything illegal.

It is unlikely that any two Nike superstar endorsement contracts are the same. Michael Jordan ended up with his own brand within Nike. Undoubtedly he was paid better than an up and coming college NFL star. It is most likely that Serena Williams’ contract had many different term and conditions to Allyson Felix. If Felix signed her contract she took on all of the legalities within it, including the fine print. Unlike an employment contract, sponsorships terms can change on a whim.

The Nike sponsorship Rolodex is undoubtedly littered with stars – male and female – in their 30s, re-contracted at far lower rates than when they were in their prime. Felix wouldn’t be alone. Age, rather than maternity was probably the bigger driver for the Nike decision makers. The world of sports is brutal. Unless one is a Valentino Rossi of MotoGP fame, a Roger Federer/Serena Williams in tennis or an Usain Bolt in track & field, ongoing sponsorship tends to fade as these stars get put out to pasture.

Yet we are not Nike and we do not have the full facts of how it grants its limited marketing dollars. Perhaps we should ask why Adidas or Puma aren’t beating a path to Felix’s door to contract her and get some mileage out of the controversy? Nike knows the endorsement field probably better than most. The risk of her defection is minimal at best, therefore, Nike can drive hard bargains. Take it or leave it.

Ding dong the switch is dead

Morgan Stanley has finally lowered its bearish scenario on Tesla from $97 to $10. CM wrote in October 2017 that the shares based on production of 500,000 vehicles was worth no more than $28 (refer to report page 5). That was based on rosy scenarios. Sadly CM thinks Tesla will be bought for a song by the Chinese. Maybe $4.20 a share instead of $420 “funding secured” levels.

The stock breached $200 yesterday for the first time since late 2016.

Morgan Stanley analyst, Adam Jonas, has still kept its base case scenario at $230 per share. His bull case is $391.

Where is the conviction? To drop a bear case target by 90% must surely mean the base case is far lower than presently assumed.

Jonas must assume the bear case is actually the base case. Sell side brokers love to hide behind scenario analysis to cop out having to get off the fence. His compliance department probably prevents him from realizing $10 is his true heart.

Tesla was always playing in a market that it had no prior experience. It is not to say the products didn’t have promise. The problem was the execution. Too much senior management turnover, missed targets, poor quality and too many Tweets from Musk.

The amount of bad press arising from a lack of service centers has driven customers to moan on social media at its amateur approach. The fragile dreams of being an early adopter are being shattered. Cash burn remains high and deliveries remain low. Some pundits think Tesla orders are under real pressure in 2Q 2019.

The recent all share deal with Maxwell Technologies has seen those holders -20% since the transaction a few weeks ago. CM argued how a company with such revolutionary technology could sell itself for all shares in a debt-ridden loss making like Tesla? If the technology was of real value PE funds would have snapped it up or at the very least made a bid in cash. That none was made speaks volumes about what was bought.

All of the arguments hold true in the above link, “Tesla – 30 reasons why Tesla will be a bug on a windshield

Tesla below $200 after a successful cap raise is not a good sign. It’s the faithful slowly tipping out. Await another imaginary Musk-inspired growth engine to be announced shortly to try prop up the stock price. Yet the momentum will continue to sink. The market is losing confidence in Musk. The 1Q results were diabolically bad.

Major holder T Rowe Price has stampeded out the door. The stock is too risky. Musk is a brilliant salesman but he has bitten off more than he can chew.

CM always thought that Toyota selling its Tesla stake was a major sign. Acknowledging that under the hood the company possessed no technology that Toyota didn’t already own.

Watch the free fall. The Tesla stock will be below $100 by the year end.

(CM does not hold Tesla stock)

Open letter to Lisa Wilkinson

Dear Lisa,

Oscar Wilde once said that, “the only thing to do with good advice is to pass it on. It is never of any use to oneself.”

Your open letter to Australian PM Scott Morrison effectively pleads for him to ignore the election result and adopt the policies that cost Bill Shorten his job. Labor’s platform was repudiated by the Australian people.

What is it with the left that is so preoccupied with Jacinda Ardern? Her domestic policy track record is awful. Copying Australia’s gun ban does not absolve her of failures elsewhere. Yes, she is young and progressive but it would have been nice for her to understand the cultural significance of donning the hijab rather than thinking it’s just a garment to augment her virtue signaling. Maybe you should talk to Rita Panahi to get a proper perspective on what it means to wear one.

Do you really think the PM will call his counterpart across the ditch if he needs to reach out? Morrison would seemingly have the answers to win an election within 9 months of taking over the leadership after Turnbull had trashed the Liberal brand. That is what his new party is for. He has their loyalty.

Your request to push for stable government is not lost on Mr Morrison. CM hates to tell you that the Prime Minister almost single-handedly won against all the odds and that has absolutely cemented his leadership. Do not forget the cabal of duplicitous leftists (Turnbull, Pyne, Bishop, Banks etc) within the party are thankfully all gone. The LNP can now be healed under his leadership. Did you honestly miss the significance of his win?

It wouldn’t be a letter from a host of The Project if climate change wasn’t on the menu! CM is pretty sure you voted for Zali Steggall in Warringah. Her sole policy platform is climate change. She emphatically said it in her victory speech.

Sadly, the Australian people rejected foolhardy renewable targets that Steggall wants to pursue. The Labor Party can’t risk running a climate change agenda again. Steggall’s targets are more extreme than Labor. Aussies at the coal face know better than Mosmanites at the Avenue Road Cafe how their financial livelihoods could be irrevocably damaged by Labor/Green climate policies. It is now a dead issue.

Did you know that Australia contributes 0.0000156% of global CO2? That means even if we went 100% renewable our impact is zip. Nada. Zero. Your husband’s Tesla has already travelled 150,000km in CO2 terms before it left Elon Musk’s factory.

CM advises you to watch the Sir David Attenborough documentary, Climate Change: The Facts, and note it is almost completely devoid of hard numbers. Many heart string pulling pictures but it is best you put faith in the PM to hit emission targets without trashing our economy in the process. Mr Shorten couldn’t put a price on climate change and paid a huge penalty because of it.

Please do not be concerned with the hot temperatures. It was hotter in the 1890s and early 1900s. Our Bureau of Meteorology has already been in quite a bit of trouble for fiddling the temperature figures. Feel more sorry for iguanas in Florida that fell out of trees due to the bitter cold and snowfalls.

As far as poverty goes, Australia has some of the lowest rates among 1st world nations. Spare a thought for the 118mn Europeans that live below the poverty line, over twice the rate of Australia. 23.5% of Europeans live below the poverty line and 330,000 German households had their electricity cut off because they couldn’t afford to pay for the record high power prices thanks to renewable energy policies. By the way 42,000 Aussies suffered the same fate last year.

Please quit with the “gender pay gap” nonsense. If companies could hire women at 14.1% less than men for the same job then there would be no point hiring men. Your pay packet is superior to many of your Project co-stars so you’re hardly oppressed by the gender pay gap. Choice of industry has a greater bearing on pay than gender.

Childcare is an issue which is being addressed. Domestic violence is way too high but do not ignore the statistics which show female violence against men. It just goes unreported.

While your sentiments are no doubt well intentioned, Jacinda could learn far more from ScoMo on how to win an election given the NZ PM has never achieved it in her own right.

Yours sincerely,

M. Newman, Contrarian Marketplace