“So! It’s all forgotten now, and let’s hear no more about it. So, that’s two egg mayonnaise, a prawn Goebbels, a Hermann Goering, and four Colditz salads”.

Gotta love Basil!

Morning all,

You remember watching all those Magicians who try to pull the tablecloth out from a table with all the silverware and china sitting beautifully on it…the good ones can do it but when it goes wrong it can go wrong spectacularly. So it is when Central Bankers endeavour to pull the linen without disturbing the place settings…maybe I watched Tommy Cooper too much but in my experience it usually gets messy…so this is what Uncle Ben will try to do..its already got messy for some economies as 10 year T Bills are now nearly 3% and the Indian Rupee has been savaged with Indian energy costs going through the roof. At the G20 meeting overnight the BRICS have decided to contribute to a fund to help keep the crockery on the table..they are putting in $100bn to ease the transition as the tablecloth gets a severe jerk…..China is on the hook for $41bn with Brazil ,Russia and even South Africa chipping in…good luck…and pull?

Expect a quiet day today with election and jobs numbers the focus…no one will take big positions and let’s face it are we really going to celebrate Abbott winning on Monday…Tweedle Dee or Tweedle Dumb!Tough choice!

Still feel we have a Coalition massacre priced in ..look no further than MMS to confirm that…under $ 7.00 after Rudd announced the FBT loophole closure and now as Tony says no way Jose,back up to $13.40!!

Idea of the Day

Now we all know that Tony13 is a shoe in tomorrow and so who will be the winners…well one bunch of winners will be parents intending to have babies…no longer the baby bonus but the PPL scheme designed to take Foreign Aid out of the mouths of poor around the globe and redistribute it to the good and very needy middle class of the leafy North Shore, to provide a buffer when they take time off to look after their kids..now I reckon that all this largesse will really stimulate conception and will provide a big rise in birth rates..now in my experience babies grow up and pretty soon they will  need childcare(actually in my experience they grow up pretty quick and they then need to party hard !)..it’s silly giving people a huge reason to have kids and not then look after them when they go back to work! So one of my winners from the PPL scheme is going to be GEM…these guys run childcare centres ..they are NOT Eddie Groves’s love child in disguise but are a disciplined and well managed business not paying over the top for centres..I like this one and with a decent dividend too ,I think there is good upside to 3.30..Have pushed them before but time to push them again I suspect…BUY GEM for a 3.30 target in six months!

Things to make me go mmmmm!

Only one more day until we get a chance to vote..I love the way the present Government is slagged off for being an unstable minority government…they actually got a lot done while in power ..the only thing unstable about the Government was Kevin Rudd…he was to blame for the instability not the Minority situation…and they rewarded him and gave him the top job!!Must have been mad..anyway as we queue for the sausage sizzle it’s going to be a tough choice on who to vote for..I live in a  solid Liberal seat, so as a result we never see our member, we never get any goodies, any promises, no one bothers to campaign and nothing changes..maybe that’s what we want..but it would be nice not to be taken for granted!!!!!!Vote Jedi…and may the force be with you!!

G20 meeting has kicked off…Obama is trying to rally support to launch his strike against Syria…now call me cynical but this attack is hardly going to take the Al Assad regime by surprise now…any attack will be accompanied by TV pictures of women and children killed and injured in these attacks..the Iraqis were really good at using civilians as collateral damage when the US struck…expect the same!!!!Not going to be a good look.

Would love to be a fly on the Wall for the Putin-Obama meeting….also lots of talk about how to deal with QE exit from peripheral players!!

Somewhere  a village has lost its idiot!!!

Francois Hollande!!!…They are looking for you!!

US jobs number tonight…expectations of 180,000 is the consensus…

It’s been a week for central Banks ..BOE,BOJ and ECB…all saying the same thing..singing from the same sheet..rates are low and will stay low until we need to move them if inflation pops but ready to cut if the signs of growth flop!

Seems like the new Fed Chief will not be Yellen or Summers but Obama as he told the G20 meeting that tapering will occur gradually…not sure it’s his decision though   (YET!)

Gold gets whacked, Euro at six week low…oil higher..Iron Ore down and Aussie dollar looks like it is being squeezed up towards 94 cents before it falls over again!

‘The greatest trick the Devil ever pulled was convincing the world he didn’t exist’.

And finally…..no, this is not a dig at my wife!!but it’s still funny..well I think so!

Husband takes the wife to a disco.

There’s a guy on the dance floor giving it large – break dancing, moon walking, back flips, the works.

The wife turns to her husband and says: “See that guy?

25 years ago he proposed to me and I turned him down.”

Husband says:

“Looks like he’s still bloody celebrating!!!

Have a great weekend and remember we get the politicians we deserve…tragic really…

Enough already.. Happy Yon Kippur… G’mar Chatima Tova!

Clarence

XXX

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