Saturday, February 28, 2009

So we are frightened that the Government will take control of the American Banks

Well they should have thought of that when all of these make believe securities were invented.
The Banks have proved themselves completely inadequate in any kind of Fiscal prudence whatsoever. They turn up and ask Mummy and Daddy to get them out of trouble and now want to squeal like the spoiled brats they are that Mummy and Daddy want to ground them for stupidity.
I am sure Mummy and Daddy will let them out to play again one day when they prove that they are actually able to play nicely in the world.
Lets not be frightened - selfish greed has brought the world to this mess and now controls need to be applied - lets celebrate and get on with life.

Monday, February 23, 2009

Poilticians are all pathetic "dweebs"

The article attached here is just one of so many pathetic performances from our Parliamentary geniuses.
You have to know watching our elected representatives performing so poorly is getting to be very tiresome. Equally I find the rather blank look from our frontbenchers when questioned on their portfolio and are so shockingly found out as to their detailed knowledge of their respective portfolios.
Perhaps that is why we never actually do anything constructive from a decision making point of view.But our erstwhile Government prancing around giving money away instead of really spending it on long term beneficial infrastructure projects (like capturing flood waters and diverting it to the inland river systems.
I am so tired of being sucked in and manipulated by the Financial Power Brokers of the world who clearly have the power and money to manipulate markets whichever way they want.
Clearly we are totally at the whim of major power brokers who seem to have their way with these parliamentary pawns whom have been elected to manage and administer on behalf of the electorate.
So stop the school yard antics - remember who put you in power and stop wasting time with schoolyard bullying tactics. You are actually giving "dweebs" a bad name.

Tuesday, February 17, 2009

How wrong can these guys get it?

You read this article written by the ANZ 12 months ago and all we wanted to do was stop this dreadful thing called inflation. They are only echoing their mates and the discussions they had over a wonderful lunch down in the Pub in George Street Sydney or William Street Melbourne.

You really do have to worry about the Ecomonists of the world because quite simply these guys are quite capable of telling us anything they want us to hear as they attempt to predict (manipulate?) markets.

I have been amazed at the continual Economic Outlook being promulgated daily and in one day you can generally find a variety of conflicting opinions. Our economists spent months convincing the markets that interest rates in Australia needed to rise because of the inflationary trend. A trend mind you largely driven by Oil Prices that continued to spiral until OPEC called the Wall Street Futures Traders out for over trading the price on economist outlook. When they cut the production rate we saw Oil Prices fall out of bed in monumental form and return to a reasonable price. I bet one thing for sure these sods are still manipulating a market.

I watch with interest daily the trade in our "SPI" Index trading - yet another wondrous document that can be traded against a number (created by adding a few "indicator" numbers together multiplying by 100 and calling it an index) that is clearly manipulated by the dealers within minutes of the ASX opening. Frankly the only reason they trade in this index is because they (the dealers) can manipulate it, otherwise they would be down at the casino dropping there money on 26 Black.

My simple questions how do we take control these "experts" who clearly are a disgrace to the piece of paper they call a degree.

Our Reserve Bank listens to these people and now admits they were hasty in lifting rates. Even worse is the horrible truth of where these "experts' have taken us and we are paying a very dear price.

Lets get back to trading physical commodities, lets remove fancy negotiable securities and go about our business of living, buying our food and purchasing to satisfy our needs. Let Governments get on with providing us with the essentials of life like schools,roads and hospitals etc., and to the Economists of the world go and get a "real" job.

Wednesday, February 11, 2009

Happy Birthday President Lincoln

Today is the 12th February and is the 200th anniversary of Abraham Lincoln's Birthday.
He is a man who held the Presidency of the USA during some of it's darkest days and yet he is recognised as one of the greatest Statesmen to have ever held such high office.
The now most famous speech "The Gettysburg Address" delivered in November 1863 remains to this day one of the greatest speeches ever given. The Civil War still raged on and in drawing attention to the Declaration of Independence signed some "four score and seven years" prior he called the Nation to stand again under the flag of the USA. He so carefully crafted his words in dedicating the Graveyard at Gettysburg to remind the Nation of its very core, it remains as the true spirit of a proud nation growing and evolving as one nation.
The USA again faces dark times as it has so many times before - of one thing we can be certain, it will recover from this time, and it will remain the truly great nation that remains strong under Liberty's Flame - "Give me your tired, your poor,Your huddled masses yearning to breathe free,The wretched refuse of your teeming shore.Send these, the homeless, tempest-tossed to me,I lift my lamp beside the golden door!"

Happy Birthday Mr Lincoln

Tuesday, February 10, 2009

So now the Banks want to give back the money!

This article in the New York Times is still scarier than yesterday.

It begs the question are these guys deliberately manipulating markets and now realise that we are catching on to their irresponsible shenanigans. Greater controls and reporting procedures must be brought into play as it seems we are just pawns in their evil greedy game.

Monday, February 9, 2009

The US Bail Out - it is time for FSRA

This article in the New York Times is a little scary.

The Financial Services Reform Act that was implemented in this Country early this century has certainly seen the Banking system in this country in a much better state than it might have been. Clearly the open trade attitude of the Banks in Europe and USA has seen the world financial systems brought to the brink. The Governments of the world have been forced to implement "bail outs" at an unprecedented level. Surely the taxpayers of the world should need and want to reign in these - "greedy, selfish" organisations whom simply have thumbed their nose at prudent management.

I sincerely hope that President Obama and his legislators bring in a much stronger set of watch dog disciplines to protect those of us whom have trusted these organisations. The same disciplines need to also be considered across the UK and Europe. One feels that the market manipulation that has gone on without any from of control has been very largely responsible for this crisis. We will trust them again - we have no choice - but it would be much easier to do so if we knew a large dog with teeth was sitting watching on our behalf.