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Category Archives: tough times
Watch out, it’s October …
No-one seems to understand why, but this time of year is often tumultuous. (Particularly in the financial world. 1929. 1987. 2008.) This year is looking pretty interesting too. So called “geo-political risk” has risen sharply. Gaza and Ukraine have settled down … Continue reading
Posted in debt, financial markets, tough times
Tagged delusion, economic growth, market value, US economy, Wall Street
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China’s corporate delusion
In Hong Kong last week I picked up a copy of the Asian Wall Street Journal and came across a story of complete delusion in the State owned corporate sector. Apparently state owned Zoomlion makes construction equipment, half of it … Continue reading
Pain in Spain goes on and on
They came to Madrid from every corner of the country. Some walked for a month. “We want work. We can’t accept that millions of unemployed people must go home to live with their parents,’’ said Jorge Balbas, an unemployed man … Continue reading
Watching China
My post on China at the weekend attracted a bit of interest, so here’s more to ponder … A visual from Zerohedge: By now everyone knows that the Chinese credit bubble has hit unprecedented proportions. If they don’t, we remind … Continue reading
China: has the music just stopped?
Whilst we’re all distracted by the extraordinary events in Ukraine and Crimea, and the hunt for MH370, things in China are looking dodgier by the day. In the last 5 years the Chinese have created $16 trillion in credit. That is … Continue reading
Joe’s jumbled message
I’ve been listening very hard to Joe Hockey recently. Way back, whilst still in opposition, he made that famous “it’s the end of the age of entitlement” speech in London. Lately he’s been strongly on the same theme. He argues … Continue reading
Posted in tough times
Tagged advances in technology, Australian economy, economic growth, politics
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Phantom recovery
Highlights from yesterday’s US Government press release on jobs: unemployment down in one month from 7% to 6.7%; 74,000 new jobs created in December. Sounds OK doesn’t it? The economy must be recovering … (Wall Street rose a bit on … Continue reading
Posted in employment, tough times
Tagged BLS, delusion, economic growth, employment, Federal Reserve, jobs, unemployment, US economy, Wall Street
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Hockey’s challenge
107 days have already gone for the new Australian Government. It will be another 140+ before we see it’s first full budget. Nearly a quarter of their elected term will be gone! 18 months after that, they will be right … Continue reading
Posted in politics and leadership, tough times
Tagged Australian economy, delusion, Howard, Joe Hockey, Tony Abbott
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Holden succumbs
I’ve enjoyed owning and driving 5 different Holdens in my time. Good workmanlike, middle-of-the-road cars, all of them. It will be kind of a pity to see Australian made Holdens eventually disappear from the market. My current VW is great. … Continue reading
Australian entitlement is in for a great shock
David Llewellyn-Smith is on a roll. The ABC picked up his great article from Macro Business and put on The Drum at the weekend, summarised thus: “Australia’s business environment is unsustainable, and propping up dying companies like Qantas rather than … Continue reading
something 2 ponder 