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Morning all,

It’s going to be a big week this week with the FOMC meeting from the US plus the blame game in Canberra will continue with the MYEFO statement due from GI Joe.Of course it was the other guys..I used the same defence when I was a kid. Wasn’t me it was my brother or someone else.These guys will be singing this Christmas Carol for years to come..of course they have been in power for three months so if it is so bad why haven’t they done anything about it..so far they have just faffed around..the paid parental leave scheme is going to cost a fortune so why not back flip on that one…anyway it’s safe to say the first 100 days of Abbott have left most wondering why we ever voted this bunch in at all…pretty useless really..no policies in opposition translates to no idea in Government..anyway don’t get me started on the Circus Oz in Canberra…

Expect a quiet day today as we await all this big news in the next day or so…have to say though I am finding it hard to get excited now about our market..the continual drip feed of profit downgrades is confidence sapping…news in the papers of the impending demise of construction jobs in mining makes Holden look like a small business closing…at least they have a three year redundancy notice!!

Aussie dollar holding below 90 and I expect it to go lower in the New Year…growth expectations for our economy are being wound back ..seems the only strong part of the economy is house prices and not much else…mixture of media frenzy and real estate agents puffing things up…the sellers are rushing to get these high prices ,,must tell you something…

At least Gold was better on Friday but Iron Ore has started to slip a little but stability is very reassuring…

winchester

Things to make me go mmmmmm!!

 

IAG in a trading halt as they announce placement!

Peter O Toole has died aged 81…sad news ..one of the greatest actors of modern times..was a big fan..

Mnachester City beat Arsenal; 6-3..who said Football was boring!!

Looks like Senex is the bidder for AWE…not much of a premium though but may bring out some other players but shows that M&A is alive and well and gaghering pace..2014 should be a good one for corporate lawyers and investment bankers…Healthscope even rumoured to be making an appearance back on the exchange!NEWS FLASH…Senex has withdrawn the merger proposal..blimey that was quick!!Apparently AWE wasn’t prepared to open its books!!

Tony Rabbott is hopeful that BHP will re-examine their expansion plans for Olympic dam…although he hasn’t actually spoken to BHP..didn’t actually speak to Holden either so not sure where he gets this stuff from…maybe he gets Peta Credlin to speak to these people.

SHARES in casino operator Crown came under pressure yesterday after the Victorian government proposed a new tax on poker machines at the company’s flagship casino in Melbourne. Victoria proposed an annual levy of $22,175 per poker machine to raise $56.8 million a year, as it attempts to fund infrastructure developments such as roads and schools while holding on to its AAA credit rating.Don’t  you love how Governments try to patch up the holes in their budgets by whacking business!!!

Overnight rhetoric in Asia became increasingly heated when China’s Ministry of Foreign Affairs expressed “strong dissastisfaction” at the slanderous actions of Abe’s Japanese government over the Air Defense Identification Zone (ADIZ) and the “theft and embezzlement” of the Diaoyu Islands.

Fridays down grades were Silver Chef and GUD …more to come I expect as we race into the holiday…good time to try to hide things under the carpet…

Bitcoins were dealt a blow in Norway as the government of Scandinavia’s richest nation said the virtual currency doesn’t qualify as real money.“Bitcoins don’t fall under the usual definition of money or currency,” Hans Christian Holte, director general of taxation in Norway.

The Chinese land on the Moon..if ever there was a more potent sign of the growing power of China this is it!!Now they have landed they will set up some cheap manufacturing and start exporting to other planets…soon there will be no manufacturing on any other planet at all…and everything the Martians buy will say “Made on the Moon” stamped on it.

Coal-haulage company Aurizon will book a one-off hit of up to $150 million in the first half after deciding to scrap or sell trains and wagons it had decided it will no longer need over the next five years.

Australia’s largest listed rail company will also book a $47 million charge in the first half following a review of strategic projects including those in the Surat and Galillee basins in Queensland.

Tried to buy tickets for the Stones in Sydney..failed..sold out pretty instantly…seems the robots were in first as usual…probably more money in touting tickets bought by Robot computer programs than trading the market at the moment..bet ebay is full of tickets for sale now!!!should not be allowed..real fans miss out!!

And finally….

 

A guy goes to the Post Office to apply for a job. The interviewer asks him, “Are you allergic to anything?”

He replies, “Yes, caffeine. I can’t drink coffee.”

“Ok, have you ever been in the military service?”

“Yes,” he says, “I was in Iraq for one tour.”

The interviewer says, “That will give you 5 extra points toward employment.” Then he asks, “Are you disabled in any way?”

The guy says, “Yes. A bomb exploded near me and I lost both my testicles.”

The interviewer grimaces and then says, “Okay. You’ve got enough points for me to hire you right now. Our normal hours are from 8 a.m. to 4:00 p.m. You can start tomorrow at 10 a.m., and plan on starting at 10 a.m. every day.”

The guy is puzzled and asks, “If the work hours are from 8 a.m. to 4 p.m., why don’t you want me here until 10 a.m.?”

“This is a government job”, the interviewer says. “For the first two hours, we just stand around drinking coffee and scratching our balls. No point in you coming in for that.”

 

Have a great day…..

Clarence

XXX

 

Any financial product advice contained in this email is general financial product advice only and does not take into account any one person’s objectives, financial situation or needs. Therefore, before acting on any financial product advice in this email, you should consider, with or without the assistance of an independent adviser, the appropriateness of the advice, having regard to your objectives, financial situation and needs.

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