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Morning sports fans,
Have finally got my Outlook back and a new computer…so everything looks weird and the fonts are all different so you will have to excuse this first email..
Well once again the Dow pushes ahead as the promise of more free money forever grips the market…now it doesn’t seem to matter who is printing the damn stuff as its all the same to Wall Street…Japanese,European,Chinese,British…doesn’t matter as long as its free …guess at least the Fed has stopped the schmoozle!! Anyway better German number on confidence helped sentiment but Abe going to the polls and the deferment of the sales tax was a positive..what is scary is that Abenomics does NOT seem to be working at all..there is a recession in Japan and all that money all that debt and the people do not like Abe…seems to be a pretty fragile economy if a tiny 3% sales tax increase kills it dead!!That’s with a Toxic Yen and a zero interest rate and concreting everything in sight!!
So here we are in our market and we are stuck in a banking Bywater…the engine of index growth has stalled as the government awaits the Murray Enquiry and to come down heavy handed on their banking pals..I mean it is not as if they came to any grief in the GFC …apart from confidence they were pretty unscathed..Someone once told me that the reason the banks here didn’t get involved in the sub-prime debacle ,the CDO and dubious exploding reset mortgages is that they were too dumb to work out how they worked…good I say be dumb!!Anyway as the Abbott government winds up to deliver the bad news of the MYEFO the market should and could get nervous…after nearly 15 months in the top job, hard to see any sign that this lot is any better than the last!!!Let’s face it Smokin Joe is a disaster as Treasurer and we need to have someone like Malcolm in the seat..maybe a health issue or more time with family to come!!
We are in a range…actually I feel wie are close to a tipping point globally and we could go either way..if the optimists(free money merchants) win the global equity markets will squirt higher ..if punters actually start to focus on the deteriorating growth outlook across the planet then we could struggle and even have another mini rout…jury is out..next few weeks will be the decider!!
Medibank Private could be the touchstone of FOMO(fear of missing out)…it’s an insurance company people!!!With bureaucratic fat but it still just takes money invests it and then pays it out in claims..much like QBE ,IAG etc…let’s not get too carried away with this super sexy business!!!
Idea of the Day
So have you been naughty or nice this year…will we see Santa coming down a chimney near you..let’s face it it has hardly been a stellar year with a tiny rise but as Dickens said in the Christmas Carol…’it was the best of times and the worst of times’…so the take out is that stock picking is the way to have made money..that and owning banks..buying the dips and selling the tops!!
“It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of Light, it was the season of Darkness, it was the spring of hope, it was the winter of despair, we had everything before us, we had nothing before us, we were all going direct to Heaven, we were all going direct the other way”
Actually it was the Tale of Two Cities but still a great quote…even now!
Things to make me go mmmmmm!!
Commodities going through the floor…Iron Ore nearly sub 70…oil around 79 funny how the price of fuel hasn’t gone down that much though..someone making some good money!!In Indonesia though they have just increased the price of fule by 30%…the reason their debt is so high is the fuel subsidy so poof ..it is gone!
Bob Geldof! Live Aid/Band Aid 30 years on…maybe if they could get Bob to pay some tax…and don’t get me started on Bono!!!I find it amazing that the guy is worth 32m quid and cant afford a comb or a brush..maybe the next single they release could be to raise money for a hairdresser!!And how the hell does a guy that was the lead singer in the Boomtown Rats..yes I bought their album…made 32m quid…I don’t like Mondays?
There are 2.5m homeless kids in the land of the free!!!
Only good thing about the fall in the Iron Ore price is that it hurts Gina! Poor old Smokin’ Joe though..his budget in tatters!!
Saban Capital Group, specialists in media turnarounds, has emerged as the latest US private equity player to express interest in struggling broadcaster Ten Network Holdings.
The strange case of the missing gold…no it’s not a NCM announcement..usually is but in Ukraine..these guys were once one of the biggest hoarders of gold..they had 42 tons of it…but then one night as the new government seized power,trucks rolled up,planes were fired up and pooff,it was gone…but where…seems like the US is the most likely destination!!!Gold for liberation…better than cash for comment!
This is the situation now according to new Ukrainian Central Bank chief Valeriia Gontareva…
With all this FTA love around at the moment and leaders staying a few extra days to cuddle a Koala it is no surprise that the banks are now talking up the possibilities in Asia…much like they did for the US and the UK..and let’s face it that went well!!!
I was staggered to read there are 17 ingredients in a Maccas bag of fries!!!Thought it was just Potatoes and oil! Apparently not!
Agribusiness Ruralco has nearly doubled its annual profit and is now hoping that much-needed rain will start falling to help farmers struggling with drought.
Looks like Greece is going to be back in the news as the last tranche of help from the Troika is being withheld as they are not putting in $2.5bn worth of more austerity measures and cuts to government spending. More games of Chicken to come!!
And finally ….first off I am no longer just juicing ..I finished on Saturday and have now gone onto two a day and a healthy meal..total weight loss is 6.5kilos…was on Saturday..is now…still struggling with some of my old habits which is a good thing..and now to the joke…..cos I know that’s really all you want to read anyway!!If you are of a sensitive disposition please look away now!!
A couple are having hard financial times, so they decide that she’ll try being a hooker.
She’s not quite sure what to do, so the husband says,
“Stand in front of that bar and pick up a guy.
Tell him you charge a hundred dollars.
Any questions and I’ll be parked around the corner.”
She stands outside the bar for about five minutes showing her leg, when a guy pulls up and asks “How much?”
She says, A hundred dollars. He replies,
” All I got is thirty.”
She says, “Hold on,” and runs back to the husband and asks.
What can he get for thirty? “A hand job,” the husband replied.
She runs back and tells the guy all he gets for thirty dollars is a hand job.
He agrees and she gets in the car.
He unzips his trousers, and out pops this HUGE willy.
She stares at this huge member for a few seconds, then says. “I’ll be right back..”
She runs back to the husband.
“What’s wrong?” he asks.
“Any chance you could lend this guy 70 dollars?”
Have a great Wednesday