Morning sports fans..







“Excuse me while I rant a while”…Jimi Hendrix


In China they say it is glorious to get rich, here in mean Australia it’s a bloody necessity!!!


Welcome to a brave new world.. A world of unfairness and inequality.

I have a few questions for Jokin Joe

Where are the  new jobs?

Where is the economic growth?

Where are the real revenue raising initiatives..oh yeak that’s to come we GST going to 12.5% very soon..

At least we have stopped the boats as no one in their right mind will come here at all!!

Last night Joe delivered his first budget and boy was it a doozy…more broken promises than Lindsay Lohan entering rehab and no amount of spin and weasel words will change that..I loved the line too about the GST being up to the states..the states made me do it doesn’t wash..the GST is a federal tax..not a state tax..the federal government then gives it to the states but it’s up to Joe to decide what the rate is…just so you know, that as the most expensive country in the G20 ,the rate of GST will soon be 12.5% and that will just make us even more expensive..only a matter of time…lover online shopping still!!

So it’s supposed to be a budget for our kids…these are the kids that cannot find a job ,cannot afford housing as baby boomers and Chinese push it ever higher ,these are the kids that unless they earn or learn then they will get nothing for 6 months ,these are the kids that are going to have to pay massive fee increases to higher education as Unis fees go feral and then the same kids will have to pay it back sooner and with more interest while these same kids have to work til they are 70 and then retire with nothing as the financial services industry has escalated out of control and stolen your super in fees..lucky kids eh? Course most of them will leave for overseas as then they don’t have to pay back the money for their degree thus creating a brain drain leaving only old people left. The clever country ?Nope! Oh to be young again..

Of course the older generation won’t be spared as they can’t get a job after 50 unless its working on infrastructure, which is code for road gangs, until you drop dead from a heart attack caused because you could afford the tests because the co-payment had escalated to a ridiculous level and the hospitals have closed anyway, so why bother..but at least Tony is funding the Chaplain scheme for $235m!!

And one final thought..this government is scrapping a tax on super profits from mining companies that was going to use the resource boom in this country to enhance the lives of its citizens..instead we have this mean spirited divisive one where the poor and vulnerable are the targets..lucky for Joe  cigars are not being raised!!!

Ok, rant over…so if it’s now a bloody necessity to get rich how do I do it???

So what does that mean for the markets ..well the harsh reality is that it’s probably neither good nor bad ..there will be some winners and losers obviously but the biggest thing is how overseas guys see it and all they will see is the budget deficit reductions to come..they don’t care about the way it is achieved just that it is..of course giving the RBA $9bn for a slush fund didn’t help the budget at all but that’s another story..but what it will do is ensure consumers stop spending big spending no rate rises..defensives and yield will still be attractive,..probably be more so..banks,WOW,WES you know the ones!!

CBA numbers out this morning..only quarterly results but at $2.2bn were growth in business lending as per the others but residential housing and bad debt provisions falling are the drivers..$80 is a big price though!!!!!No dividend announcement this time …but you would have to be positive on it!!Buy the banks Die with the banks is my motto!!!

Still think we are going nowhere on the market for a few months..dust loss etc…sideways at best..drifting down at worse

Idea of the day

Winners from the budget

Road makers like LEI,DOW and SWL although they have had a good run ..

Education companies like NVT..also fund managers and wealth managers as more people wake up to the joys of bugger all in retirement…course you can charge more them for those services and more people investing for their super…



All of us…but consumer discretionary stocks will take a knock.

Healthcare stocks may suffer too as people stop that extra cholesterol’s only bad news anyway right?..well it is in my case..

Things to make me go mmmm!!!!!

Won’t mention the budget again promise…

Coca-Cola Amatil’s managing director Alison Watkins has flagged possible factory shutdowns as part of a business turnaround strategy she concedes will take some time to return the beverage manufacturer to earnings growth…

US had another record and the S&P hit 1900 for a brief time..more flash volatility around 3.50 again!!

The civil war is well and truly underway now in Ukraine with another 7 people killed last night…Russia supporting the rebels and the West supporting Ukraine should be a compete schmoozle!! And in news today Joe Biden’s son Hunter has joined the board of Burisma Holdings, Ukraine’s largest private gas producer!!! Makes complete sense?

Here’s what the German finance minister said last night!!!



Nickel is the place to be in commodity markets at the moment.. Nickel touched a fresh 27-month high while copper dipped after Chinese data pointed to weak economic activity in the world’s biggest metals consumer. Maybe look at WSA as they have more gas in the tank!!!

Genworth Australia  is expected to raise close to $500 million on Wednesday as an institutional bookbuild gets under way ahead of the mortgage insurer’s $2 billion float later this month.

Another day yesterday another bid …this time for PNA as a potential $1.4 billion-plus takeover bid from Chinese state-owned Guangdong Rising Assets Management has been lobbed on the table sparking rallies in other mid cap resource stocks ..again? Yup…lots more of these coming ….TWE ? If you like the products why not buy the company?

This is a doozy… Treasury has warned that iron ore prices could fall below $90 a tonne within two years due to oversupply and weak demand for steel, but says the slump will be offset by increased demand outside the resource sector that will underpin higher profitability across corporate Australia.

Gotta love consultants and the strategic review.. Orica Chief executive Ian Smith has flagged more job cuts at the explosives maker, where he has brought in management consultants to perform cost reviews.I am sure he could have worked that out by himself..isn’t that why they get paid the big bucks..of course you need someone to blame silly me!!

QANTAS is asking pilots for voluntary redundancies…first time in 40 years..not a place I would like to put any money

Kevin Rudd in the dock for the insulation scheme..should be fun..hung out to dry by the lead singer of Midnight Oil!!!Still don’t suppose he is that bothered ..Therese will keep him insulated for years to come..

RIP Patrick..too young…

And finally…cos I am English and it’s my’s some on the French..thanks Andrew..

France has neither winter nor summer nor morals.  Apart from these

drawbacks it is a fine country.  France has usually been governed by


Mark Twain


‘I would rather have a German division in front of me than a French

one behind me.’

General George S. Patton


‘Going to war without France is like going deer hunting without your accordion.’

Norman Schwarzkopf


‘We can stand here like the French, or we can do something about it.’

Marge Simpson


‘You know, the French remind me a little bit of an aging actress of

the 1940s who was still trying to dine out on her looks but doesn’t

have the face for it.’

John McCain , U.S. Senator from Arizona


‘The last time the French asked for ‘more proof’ it came marching into

Paris under a German flag.’

David Letterman


‘War without France would be like .. World War II.’



‘It is important to remember that the French have always been there

when they needed us.’

Alan Kent


‘They’ve taken their own precautions against al Qaida. To prepare for

an attack, each Frenchman is urged to keep duct tape, a white flag,

and a three-day supply of mistresses in the house.’

Argus Hamilton


‘Somebody was telling me about the French Army rifle that was being

advertised on eBay the other day –the description was, ‘Never shot.

Dropped once.”

Rep. Roy Blunt, MO


‘The French will only agree to go to war when we’ve proven we’ve found

truffles in Iraq ‘

Dennis Miller


Q. What did the mayor of Paris say to the German Army as they entered

the city in WWII?

A. Table for 100,000 m’sieur?


‘Do you know how many Frenchmen it takes to defend Paris?  It’s not

known, it’s never been tried.’

Rep. R. Blount, MO


The French Government announced today that it is imposing a ban on the

use of fireworks at Euro Disney. The decision comes the day after a

nightly fireworks display at the park, located just 30 miles outside

of Paris , caused the soldiers at a nearby French Army garrison to

surrender to a group of Czech tourists.




Have a great day







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