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Morning sports fans,
When I woke up the Dow was up 27…it closed up 200 and this is why!!!!
A new debt proposal from Zach Galifianakis the new finance minister!!
Our markets continue to push higher…bad news is good…US markets were up 27 when I woke up and closed up 200…they have been woeful in January and the bad economics news on consumer spending may push the rate rise down the road…we shall see…meanwhile is a coincidence that the local market has gone into hyperspace starting the day after the ECB announced free money forever. It seems that all the overseas guys are piling into our yield stories…and out of the US which has been a dog…the yields on the banks is compelling..TLS is compelling and this tidal wave will not stop until they turn off the free money…which is probably not in our lifetime…meantime in the real world the local economy is struggling and retailers are coping it..Kathmandu was walloped yesterday..and that’s a blueish chip…JBH Hifi announced a benign number and escaped the wrath…
The big focal point today is the RBA…2.30pm we should see the RBA decision on whether to cut..these guys are making Hamlet look decisive…To be or not to be!! I mean really…the banks decide the mortgage rates and the markets decide the bulk of the rates and the RBA is just there to make it look respectable…I have long thought they would stay their hand and now is not the time to flip flop (plenty of people already doing that!!) but looks like I am wrong…but even if they do cut is it already baked into the price…I am sure the banks will move quickly to cut deposit rates but maybe not so quick to cut mortgages…but let’s face it the biggest cut has been the price of fuel…that’s money in everyones’ pocket..well not the poor obviously because they don’t drive cars…
Idea of the Day
Fill your car up with lovely dollar a litre stuff ‘cos it will not last long…there is a price war going on and we punters are the winners in all this…BUT with a strike in the US…money being pumped into Europe as ifs it Oil and a change in ruler in Saudi..plus the amount of production and investment cuts to oil companies bottom line this price will not last…we will not see $20 oil ..we will not see$30 oil..we have seen the lows…well almost …may see it have one more go at the lows of $45 for WTI but I think it will stabilise now…no one left to short it… as a result we will see oil stocks rise..I like KAR ..oodles of cash and good prospects in Brazil..they trade at a discount to cash backing..go figure..Buy at 2.18 for a move back up at elast to cash backing of $2.80…where else can you buy dollars for 80 cents and have an upside kicker with current drilling campaign!!!
Things to make me go mmmm!!
Our ‘Tone’ has postulated that the people elect the PM ..not so my friend…the people elect members and the party elects a leader…if the people could elect and unelect a leader you would be looking for a new job by now!!!
I do not often rant about politics in this country because it is frankly too depressing for words..the biggest problem is that we have a capital city where parliament is that is miles from reality..how do the members stay connected with the real world when they do not live in it…their word is one of grace and favour and major sucking up and lobbying..
Arise Sir Ange!!
The new Greek finance minister actually seems to know what he is doing…that is scary for the ruling(corrupt) class in Greece.Hard ball is being played by the Greeks and this will only stoke the fires for the gold price…let’s face it the great Euro experiment has been a bit of a stuff up..I am continually amazed at how acquiescent the population of these countries are these days..I was watching a doco on the Rolling Stones on my chauffeur driven Mercedes this morning…we forget how violent the sixties were..how many protests there were while we in the 21st Century seem to be going quietly into the night…strange how we are all so immersed into our smartphone that we are not noticing what is going on in the world… The greatest trick the Devil ever pulled was convincing the world he didn’t exist.
“We were elected to put an end to the addiction”. Yanis Varoufakis, Greek finance minister, says his country is ‘addicted’ to borrowing and voters want this to end.
Good work from my friends at Marsh insurance in NZ!!!
Super Bowl…really…seems a metaphor for the US…a small number of white Anglo Saxons(quarter back and coach) in charge of a mass of black American muscle charging aimlessly at each other…and it goes on so long…and the food that is consumed during it!!!48 m people will order takeout..12.5m pizzas..10% rise in porn watching and 325m gallons of beer will be consumed and that’s just the winning team!
The Baltic Dry index which measures the cost of transporting bulk cargos around the world is a serious worry…it is at its lowest level since 1986!!!
Signed up for a new streaming service called Stan yesterday..not sure how long Broadcast TV has left to go!!!Especially given the IACGMOOH!!!Or maybe Find a Celebrity and get them ion here!!!Why or why TEN!!!!Seriously!!Andrew Daddo!!!
Harry Edsel Smith of Albany , New York :
Born 1903–Died 1942.
Looked up the elevator shaft to see if the
car was on the way down. It was.
In a Thurmont, Maryland , cemetery:
Here lies an Atheist, all dressed up
and no place to go.
On the grave of Ezekial Aikle in
East Dalhousie Cemetery, Nova Scotia:
Here lies Ezekial Aikle, Age 102.
Only the good die young.
In a London , England cemetery:
Here lies Ann Mann, who lived an old maid
but died an old Mann. Dec. 8, 1767
In a Ribbesford, England , cemetery:
The children of Israel wanted bread,
And the Lord sent them manna.
Clark Wallace wanted a wife,
And the Devil sent him Anna.
In a Ruidoso, New Mexico , cemetery:
Here lies Johnny Yeast.
Pardon him for not rising.
In a Uniontown, Pennsylvania , cemetery:
Here lies the body of Jonathan Blake,
Stepped on the gas instead of the brake.
In a Silver City , Nevada , cemetery:
Here lays The Kid,
We planted him raw.
He was quick on the trigger,
But slow on the draw.
A lawyer’s epitaph in England :
Sir John Strange.
Here lies an honest lawyer,
and that is Strange.
John Penny’s epitaph in the Wimborne,
England , cemetery:
Reader, if cash thou art in want of any,
Dig 6 feet deep and thou wilt find a Penny.
In a cemetery in Hartscombe , England :
On the 22nd of June, Jonathan Fiddle went out of tune.
Anna Hopewell’s grave in Enosburg Falls ,
Here lies the body of our Anna,
Done to death by a banana.
It wasn’t the fruit that laid her low,
But the skin of the thing that made her go.
On a grave from the 1880s in Nantucket ,
Under the sod and under the trees,
Lies the body of Jonathan Pease.
He is not here, there’s only the pod,
Pease shelled out and went to God.
THIS ONE IS EXTREMELY WELL WRITTEN:-
In a cemetery in England :
Remember man, as you walk by,
As you are now, so once was I.
As I am now, so shall you be,
Remember this and follow me.
To which someone replied by writing on the tombstone:
To follow you I’ll not consent,
Until I know which way you went.
Have a good Tuesday