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Morning sports fans,

 gl;ass smashing

 

Is this a sign…I was walking past a WBC branch on the way in this morning and there was a huge crash and one of huge plate windows disintegrated…thought someone had thrown something through it…which brings us neatly to this……

You should never hurry a Murray…the report is finally out and now it’s over to Smokin Joe….6 months…the report is going to set the agenda for the next decade for our big four…the question of course is whether Joe will listen..he has said he is not afraid to take on the banks..well maybe he won’t actually get the chance he may be shuffled by then..he would be good in defence although they may need a bigger canoe..anyway not sure what is in it for him to take on the powerful banks…it’s not like a tax or revenue thing ,it’s a regulation thing…so why upset them…they will make the mining industry look like a picnic with their campaign(good ofr TV stations budgets though!!!!)…trouble for Joe is that the banks are owned by his voters…in fact they are the bedrock of most portfolios ..either directly or indirectly, so punish them you are punishing everyone…the level playing field with the small guys will help and the changes to some super stuff..but the super industry is now so huge…fund managers are rock stars and paid accordingly for investing in an index!!I suspect that the majority of the recommendation will prove to be too ‘courageous’ for a government on the nose as much as this one..and six months time it will  be the second budget!!!they haven’t done too good with the first..

So expect the market to be weaker today I think..the bedrock banks will be in a state of flux as the analysts pump in their new numbers for capital ratios and decreased dividend flows…in fact Murray may have killed Xmas…SPI was up 27 points as Iron Ore ioncrease so we may see some buying in BHP etc offset the banks..

Dow going to go through 18,000 very soon if not tonight…jobs are being created there at a terrific rate…not sure that protesters and rioters are jobs but I find it hard to see how the Fed can continue to justify crisis settings when things are going Tickety Boo….2015 will be all about how Central banker either get out of the money printing or in eth case of Europe and japan get into it!!

 

Things to make you go mmmmm!!!

Chelsea lost  to Newcastle.Bugger!!

The big banks may be forced to raise around $20 billion in additional capital to meet more stringent standards stipulated by the financial system inquiry’s final report. Of course Joe has said that APRA is in charge so it’s up to them really to work out the level of cash they needed to maintain…

US employment growth accelerated to a near three-year high in November with non-farm increasing by 321k. The figure, well above the upwardly-revised 243k pace of October. The underemployment rate dipped to 11.4% from 11.5%, the lowest level since September 2008, while the length of the average workweek increased 6 minutes to 34.6 hours, above the 34.5 figure of October.

us cops

Meanwhile in the land that time forgot….Zombieland….The Germany Bundesbank slashed the nations GDP growth forecasts overnight. The bank now sees growth of 1.4% this year, 1.0% for 2015 and 1.6% for 2016.

New float Estia Health had an underwhelming start as instos that lapped it up were left wondering why they bothered with a  13% drop on listing!!!I mean really…who sells these things on the first day for a 13% loss!!!!

Iron-ore miner Mount Gibson Iron has laid off 200 workers and flagged a writedown of several hundred million dollars after a seawall collapse forced the early closure of its Koolan Island mine off northern Western Australia.

Uber is valued at $40bn!!!In Greece, the taxi industry has vowed to kill anyone who works for them!!Bit of bad press in India too…in fact Uber is now valued at triple the entire licence value of the ‘Medallions’ in New York City!!!

Saudi Arabia arrested 135 terrorism suspects in nationwide raids.

The value of technology IPOs on the Australian Securities Exchange so far this year has hit $US1.5 billion ($1.8 billion), according to Dealogic, easily surpassing the previous annual record of $US894 million at the height of the dotcom bubble in 1999.

barrons cover

This little gem from the Bank of International Settlements..(BIS) ..they are the Central Bankers bankers!! BIS officials are worried that tightening by the US Federal Reserve will transmit a credit shock through East Asia and the emerging world, both by raising the cost of borrowing and by pushing up the dollar

‘The highly abnormal is becoming uncomfortably normal……….There is something vaguely troubling when the unthinkable becomes routine.’

This from the central bankers like Draghi,Yellen,Carney and Kuroda…no Glenn you didn’t make the cut!!!

Qantas Airways has forecast it will report a first-half, pretax underlying profit of $300 million to $350 million, which would be its best result since 2010.

Another 260 Non Front line jobs to go at Coke…

When I was a kid my parents bought me a chicken house which my dad put up in an apple tree and we had the best tree house around..it even had electricity..a radio, a heater and sliding windows and a balcony….plus a huge long ladder that reached up from the side of the tree house into the sky as a look out…I was pretty happy with that..now parents buy their kids houses in Annadale!! God my dad was a dud!

And finally…………

An Italian, a Frenchman and an Aussie were talking about screams of passion.

The Italian said:

“Last night I massaged my wife all over her body with the finest extra virgin Olive oil.

Then we made passionate love and I made her scream, non-stop for five minutes.”

The Frenchman said:

“Last night I massaged my wife all over her body with special Aphrodisiac oil from Provence and then we made passionate love.

I made her scream for fifteen minutes straight.”

The Aussie said:

That’s nothing!  Last night I massaged my wife, all over her body with a special butter.

I caressed her entire body with the butter, and then made love and I made her scream for two long hours.”

The Italian and Frenchman, astonished, asked, “Two full hours? ……Wow!

That’s phenomenal.  How did you do it, to make her scream for two hours?”

The Aussie replied, “I wiped my hands on the curtains.”

Have a great day

 Clarence

XXXX

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Get a Global take on things at http://www.ntmarkets.com

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