10 things you need to know this morning in Australia

Good morning.

1. So, here we are at the start of the Trump era, and the administration is at war with the press, insisting the media is wrong to questioning whether the crowds for the inauguration were the biggest ever witnessed. It all centres on this visual comparison which has been doing the rounds, showing the crowds in 2009 for Obama versus the Trump inauguration:

The White House says that the 2017 photo was taken before the official proceedings. But Fox News – not one of the outlets the new US President would be given to calling “fake news” – anchor Chris Wallace confronted Trump’s chief of staff about it, with both of them saying they were there for the event, and questioning whether there was any point to the whole argument in the first place. Now, there are photos of the scene on the mall which give a bit of a different picture, like this:

(Photo by Scott Olson/Getty Images)

But there’s some public transport data that shows trips taken on the D.C. network were far below 2009. Anyway, Wallace had the last word, pointing out – correctly – that the White House had picked this fight. He asked: “President Trump said in his inaugural address that every decision he makes will be to benefit American families. How does arguing about crowd size do that?” Wallace asked.

Quite.

2. People noticed that one of the lines in Trump’s inauguration speech was identical to a quote from Batman villain Bane.

3. Reasons to be cheerful. JPMorgan Chase CEO Jamie Dimon gave BI permission to share these remarks from a private lunch at Davos, when asked about the elephant in the room:

I’m going to take a longer term view. Because every time I come here, everyone gets very depressed about the local things [that people are worrying about at the moment]. There are legitimate concerns long-term, in my view, about nuclear war and policy and stuff like that. But the world has become a better place every 20 years for the last 2,000 years. Murder by mankind including war is coming down. When my grandfather was born, there was no healthcare. There were no aeroplanes. There were no boats. There were no trains. There were no communications. No Internet. No widespread knowledge. It will be a completely different world but a much better place in a hundred years. I’m not surprised that China is rising up. That’s happened every year since we’ve been here, so I’m surprised people are acting like it’s a tectonic shift.

He also thinks we may eventually be working four-day weeks.

3. On indulgence, one more inauguration-related item. The global quant strategy team at Bernstein states what is perhaps obvious, but unsettling at the same time: “Assuming the new US president maintains his fondness for abrupt, direct statements about things that he doesn’t like then we are one tweet away from… well, almost anything really,” the team wrote in a note sent out on inauguration day. Their point: it becomes incredibly difficult to forecast the outlook for a stock or sector in the new environment.

4. Victoria’s bail laws will be reviewed, after it emerged the guy responsible for the horrifying incident on Bourke Street in Melbourne on Friday was the subject of a range of bail orders. A three-month-old baby died on Saturday night from injuries sustained in “Jimmy” Gargasoulas’s rampage, bringing the death toll to five. Others remain in a critical condition. More here.

5. To markets, and while US stocks tanked right when Donald Trump started his inauguration speech, they recovered in later trade. Australian stock futures are looking flat, iron ore is off a bit, and the dollar is treading water.

6. State of the states. Here’s a handy guide to how the state economies are doing:

Source: Commsec

Details here.

7. The biggest problem with mobile working, solved. Behold:

It’s a gaming laptop concept from Razer. Here’s the skinny.

8. Keeping your priorities straight. Tim Ferriss, author of “The 4-Hour Workweek”, has a simple question he asks himself in order to make sure he’s focusing on the right thing: “Am I hunting antelope or field mice?” From the post:

A lion can’t live on field mice. A lion needs antelope. Antelope are big animals. They take more speed and strength to capture and kill, and once killed, they provide a feast for the lion and her pride. … So ask yourself at the end of the day, ‘Did I spend today chasing mice or hunting antelope?’”

9. Teslas still have this big problem with the fact that the cars can run out of power, even if you try to plan your trips carefully, like Matt DeBord. His review is a great insight into what happens when your Tesla’s out of power and there’s no super-charger nearby.

10. What would you eat for your last meal? In the US, death row inmates get to ask for anything. Here are the last meal requests for 17 of them, ranging from one “single olive with the pit in it” (creepy), to the guy who asked for “12 fried shrimp, a bucket of original recipe KFC, french fries, [and] a pound of strawberries”.

Have a great Monday, and don’t forget to chase some antelope. You can get 10 things straight to your inbox each morning by entering your details in the form below.

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