The S&P/ASX200 started Tuesday down, but finished higher by 12 points to close at 4,820.10. The ANZ job survey showed job ads on the internet was higher by 19.6% for February. Overall, total job ads are only 2.3% below the same time last year.
However, economist Warren Hogan has warned that quoting the internet job ad figures isn’t ideal. “Newspaper ads are a more reliable indicator than ads on the internet because people have to pay for them, or at least the cost is higher.”
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“Just allow it…just admit it. It doesn’t matter where the inflation comes from. Just let it stay…”
SLASHING the Bank of England’s base interest rate to an historic low of 0.5% was supposed to “rebalance” the economy…tipping it away from galloping consumption towards an export-led recovery.
But all that the Pound’s slump since rates began sinking in March 2008 has done so far, however, is gift a 50% gain to UK gold owners.
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Surprisingly, we’ve received quite a bit of feedback as a result of last Friday’s Money Morning on ‘How Patent Protection Stifles Innovation.’
The general gist of most responses – to paraphrase – has been, “patent protection is important to protect small businesses and inventors from greedy thieving big businesses.”
We’re paraphrasing, so no-one actually wrote that. But some weren’t far off it.
However, we won’t tackle this subject again today, as we’d like to do more rummaging around first.
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Yesterday the S&P/ASX 200 closed at 4,807.90, higher by 40 points. The Aussie market had a mixed lead in from overseas and has opened down by about 10 points this morning.
The news that’s bound to make the market jittery this week is the European Commission’s proposal for a European style International Monetary Fund (IMF). The purpose of the European Monetary Fund or ‘EMF’ is to rescue countries that have landed themselves in massive debt.
The Dow Jones Industrial Average was down by 13 points, to 10,552.52. It was an ordinary trading session for the Dow.
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This morning we’ll give El Joye and the crew at Rancho Rismark a break. We’ve banged on about him and them all week.
As you may have noticed, we’re not very formulaic with Money Morning. We don’t have a system where we write about one thing one day and then switch to something else the next.
Sometimes we may harp on about something for days on end. Hopefully that won’t try your patience too much, but we do like to wring as much as we can from a subject before moving on to something else.
And right now we think we’ve wrung that one pretty dry… For now!
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