10 things you need to know this morning in Australia

Would you watch this man spend money? (Don’t answer that.) Picture: The Candyman/Instagram.

Good morning.

1. Volatility. We’ve heard one guru say he loves it. (“It’s like the market writing me cheques.”) But if you’re struggling, there’s an Australian stock broker who might help. On Monday, when the Chinese stocks collapsed 8.5%, Marcus Padley wrote in a note to clients: “The new theme is fear of a GGC – Global Growth Correction.” Here’s why he says this is not the GFC 2, or even a financial crisis.

2. The US loved it last night. The Dow was up more than 600 points, but European markets were too late to the party. The ASX SPI 200 futures had a ripping night with the September contract rising around 100 points to set up another good day after the 0.69% rise in trade yesterday. Chris Pash said yesterday’s move was broad-based, with 9 of the 10 sectors in the index higher. Energy could suffer, given crude went backwards, but the banks might run.

3. Now, China. It’s still battling with market forces as it tries to stop the Shanghai stock market from falling, so all eyes will be glued to China again today at the open of futures and physical trade and, of course, the RMB set at 11.15am AEST. David Scutt will be there for you. Until then, here’s a great timeline of all the madness in China’s stock market in the past year.

4. Our housing debt is at a ridiculous level, way beyond anywhere else in the world. Wayne Byers, chairman of Australia’s prudential banking regulator – APRA, presented this chart at a lunch to the Australian Business Economists yesterday:

Just in case you were wondering why APRA’s been so aggressively trying to rein in the bank’s lending practices.

5. Australia’s Dan Bilzerian. Travers Beynon is an heir to a tobacco fortune – those “Free Choice” stalls you see everywhere. But as an AFL draftee, his body couldn’t keep pace with the Kangaroos, so seeing the mass, wild appeal of “the King of Instagram”, Bilzerian, Beynon moved on to calling himself “The Candyman” and setting up shots of himself trying to be Bilzerian. He went too far by putting his wife on a leash and “walking her”. So maybe you’ll want to see his new reality TV show, maybe you’d rather stick a fork in your eye.

6. OK, we need to talk about America. No doubt you’ve already read about – and probably watched – the terrifying footage of a gunman shooting dead a journalist and cameraman. But here’s a popular sentiment on Twitter:

Sadly, it’s just more added to the toll which is all-too-slowly pushing America towards the kind of gun reform that Australia leads the world in. Horrible stat of the day – the US has averaged one mass shooting per day this year.

7. McBadly Handled? There’s a movement to make September 21 a Peace Day. Burger King liked the idea so much, it took out a full-page, open letter-style ad in The New York Times and Chicago Tribune this morning, calling for a truce with McDonald’s and suggesting they join forces to create a “McWhopper” burger.

Here’s the reply on Facebook from Steve Easterbrook, McDonald’s CEO:


8. Eureka! It was Australian science’s Oscars last night, and the brain power in this country on show was, as always, astounding. This year, we had salt batteries for renewable energy and vaccines for oysters, and nanocrystals that shine on diseases trying to hide in our cells. We’re also leading the world in quantum computing, which just might be the biggest thing to happen in your lifetime. Here’s the full list of winners. Congratulations.

9. Not science! Facebookers are sharing a sentiment logged by the “Food Babe”, who’s calling on Subway to replace ground beef with organic beef. A consumer report noted recently that there’s more bacteria in non-organic beef, due to the use of antibiotics. Correct. But no matter where your beef comes from, if you don’t cook it properly, you’ll get sick – organic or not.

10. Cognitive biases are dangerous, because you don’t know they’re in effect. There’s inevitably a couple of lightbulb moments in every list we print of ciognitive biases, so here are 7 that are crucial to manage next time you’re in a job interview.

BONUS ITEM: This stunning picture a “schlieren” image of the shock wave from a USAF Test Pilot School T-38C aircraft flying at supersonic speeds over the Mojave Desert. Just released by NASA, courtesy of a 150-year-old German photography technique:

Picture: NASA

Good luck.

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