Morning, (I have dropped the good for the time being!)

The markets finished the week on Friday with losses once again on the Dow but the Euro Markets rallied a little..however news of the bail out of Bankia from the Spanish Government won’t help sentiment nor indeed will news of more corporate disasters and job losses. Take a bow Hastie..well done..$20m in accounting errors and now into administration with huge job losses. Maybe some of them can get jobs in the Pilbara with Gina as she seems to need a lot of workers. News International are also about to announce more job losses too..everyone is getting in on the act ..even NAB have closed down their Private Equity Department after doing their dough!

Big four banks are all exposed to the Hastie debacle so they will all lose money ..stocks may come back on the reminder that banks lend to people that may not always pay them back..who would have thought that?

 

It is not easy to find good news out there..and the humanitarian disaster that is Syria is just so sad..something must be done but it all costs money…

 

The big ‘Zombieland’ event over the weekend was not a Summit(for a change!) but Eurovision Song Contest…how much fun is that..makes twitter and faceplant fun!!If only the Zombie problems could be fixed as easily as that result…

Our market will continue to struggle..low volumes..huge apathy and Europe the focus..its gonna be a long winter of discontent..corporate news is not too flash with higher costs and the consumer paralysed with fear..avoid retail stocks like the plague!!

We will see more rate cuts here as the RBA starts to get it …it’s not inflation that is the problem its jobs!!and Growth…and house prices…

Things to make you go…

 

1.Eurovision song contest…good work Sweden..UK ( my birthplace) a creditable second last..Engelbert Humperdink..good call! And what did Denmark do to deserve such a horrible result!

2.News announces 400 jobs to go…Hastie to lose 2000 workers whilst Gina imports foreign workers faster than you can say MRRT!

3.Uncle Fester or Glenn Stevens will talk to the Australian Payments Clearing Associations 20th Anniversary Symposium.. a must have ticket!!

4.Since I started prattling on about my Sell in May strategy the market is down 9%..and no sign of a rebound yet…still believe we will see sub 4000..probably more like 3850 and rallies should be sold until otherwise advised!

5.Mark Webber wins Monaco..good on yer!

6.At my daughter’s school trivia night there was a whole section on naming tax havens…Greece wasn’t anywhere to be seen…that’s Private Schools for you!Need to think outside the square!

7.faceplant is now looking at smartphones and web browsers..thought we only needed one Google..this will end in tears!!Buffy the Google slayer!I think not..

8.Chistine Lagarde once again on her high horse lecturing about austerity and responsibility..

9.UK GDP shrunk by 0.3% despite Government spending up 1.6% ..which is despite AUSTERITY!!

10.Memorial day in US tonight!

Thought for the day:

I hate being bipolar..it’s awesome!

Clarence

XXX

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