Morning sports fans,

 

Well was that it….After all this time Super Mario cut rates…wow..big surprise.. I am sure it will make all the difference to the 28 m people unemployed in the Zombie zone….sorry mate not good enough..still the markets rallied as tension in Ukraine eased (for the time being anyway).US markets though were unconvinced and with Non farm Payrolls tonight this will set the scene,but new voter in the Fed Mester has suggested that next year will see 2% inflation,3% GDP and 5.5% unemployment in the US…in which case,not sure rates will be here!!!Of course it looks like they have passed the baton on money printing to Mario across the pond..go Mario…

 2012-01-05-printing-press

 

US continues to be the poster boy in economic numbers…Euro dropped a huge amount last night ..biggest one day move by a G10 currency this year…deposit rates in Europe are now -0.2%..thats a minus…

 

Iron Ore continues to plunge to unprecedented levels…this is really going to hurt the high cost producers which I guess is the idea…lets face it BHP,Rio and VALE control the marlet so at the stroke of a stop button they could give the price a boost with lower production…BUT seems they are happy to sacrifice price for volume..FMG yesterday punched the lights out with their volumes too…

 

Banks the biggest engine of our market seems to be increasingly in the cross hairs of enquiries,committees and lobbyists…I suspect that the government will look after the goose that lays golden eggs but the sentiment surrounding them is a bit sniffy at the moment so expect more slippage ..flesh wounds though..in the end these guys are great businesses and paying shareholders big returns..god help the bank that cuts its dividend…they will get slaughtered!!

 

When did delivering letters stop being a service and become a profit centre?If parcels pay for letters isnt that a good thing…nil cost to taxpayers just a changing business mix..most of the letters come through the government so putting prices up will hurt the …wait for it..government…and business…still CEO wants his bonus..

 

Idea of the Day

 

Now call me old fashioned but it doesn’t seem that long ago that the world got into serious trouble with a protracted period of cheap money and profligate spending on assets….we now have even more than ever on that front…difference is that instead of the corporates doing the spending and the Governments doing the saving its the other way around…really does anyone else think this cannot end well…still enjoy the party whilst it lasts…

 

There are now 8 countries that have two year bond yields below zero!!! You would think that looking at equity markets everything in the world is sorted…bond prices would suggest otherwise…I find it remarkable that the markets are so sanguine about the Ukrainian/RasPutin Invasion…come winter the Ruskies really will have the upper hand..sure normal service will be resumed after the summit in Wales…in Wales…amazing really ..obvioulsy worried about them leaving UK as well…Scotland would be bad enough but Wales..Dr Who produced by a foreign country..never happen!

 

 

Things to make me go mmmmmm!!!

 

 

RIP Joan Rivers..first Robin, now Joan..two of the funniest people on the planet…watched some of her  in my chauffuer driven mercedes this morning(State Transit)…she was one of the great…acid and so un PC ..we will miss her..

 

Worth watching… http://youtu.be/V8aVGtLW0Zw?list=PL8F249A7D5EABF1DA

 

 

One year ago this weekend that our Tone assumed the top job…what do we think so far?…adult government? …no surprises?…trust and honesty in Parliament?..still he does good photo ops with cricketeers..so not all bad…

 

U.S. District Judge Carl Barbier in New Orleans ruled today that BP was “grossly negligent” in the 2010 Deepwater Horizon rig explosion and may face up to $18 billion in civil penalties.

 

No bubble here right…US market…

 20140903_bubble1_0

 

 

Wales holds its first NATO summit and pledges to do whatever it takes to safeguard the delegates…150 Heads of State and ministers…10,000 support staff..2000 journalists..warships, flybys,rings of steel around the conference just so Obama can get a couple of rounds in at the site of the 2010 Ryder Cup…massive talk fest and shows a united front against the pesky Ruskies…they must be quaking…$80m spent…

 golf nasto

 

 

 

Typical French..after telling the Russians they cannot have their naval ships they are building they are now backtracking and saying the contract has not been suspended or cancelled as the penalties would be huge and the Russians don’t need ships..they have tanks and they are heading into the Ukraine…

 

Scary stat no 1…every 40 seconds somebody takes their own life…out of the 1.5m people that meet a violent end every year,800,000 are suicides…

 

Scary Stat 2…30 m Americans are on anti-depressants..

 

Over in the UK a 25 year old man has beheaded an 82 year old woman..in the garden…what I find interesting that the British police subdued the man by distractuion and a stun gun..in the US they would have just shot him 7 times….still so quaint in England..Bobbies with no guns…

 

“We don’t forget. We take care of those who are grieving, and when that’s finished, they should know we will follow them to the gates of hell until they are brought to justice, because hell is where they will reside.” Joe Biden on IS…I reckon a better plan would be to just ring fence them until they turn on each other which is inevitable and they try to actually run a state rather than just kill and behead people…seems to be much harder to actually run something than just destroy stuff…ask Tone..

 

DICK Smith Electronics chief Nick Abboud says the company is continuing to record sales growth of more than 10 per cent, defying jitters elsewhere in the discretionary retail sector.

 

 

And finally…Freddie Mercury’s birthday today…

 

The room was full of pregnant women with their husbands.

 

The instructor said, “Ladies, remember that exercise is good for you.  Walking is especially beneficial. It strengthens the pelvic muscles and will make delivery that much easier.

Just pace yourself, make plenty of stops and try to stay on a soft surface like grass or a path.”

 

“Gentlemen, remember — you’re in this together.  It wouldn’t hurt you to go walking with her.  In fact, that shared experience would be good for you both.”

 

The room suddenly became very quiet as the men absorbed this information.

 

After a few moments a man, name unknown, at the back of the room, slowly raised his hand.

 

“Yes?” said the Instructor.

 

“I was just wondering if it would be all right if she carries a golf bag while we walk?”

 

Bless!

 

 

Have a great weekend and back on Sky TV at 5.30 this afternoon..

 Clarence

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