stimulus

Your editor spent most of yesterday polishing off the August issue of Australian Small-Cap Investigator. Today we’ve just a few small bells and whistles to add to it, before we should have it delivered to subscribers after 4.10pm this afternoon.

If you’re not a subscriber yet, then why not take a few moments to read how you too can become what I like to call a Disaster Profiteer…

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To paraphrase Crocodile Dundee, “That’s not a test, THAT’s a test!”

That’s what we thought after reading the following headline from Bloomberg News yesterday: “China Said to Test Banks for 60% Home-Price Drop”.

Ooh, imagine that. Surely that would have to be pretty painful.

And it puts to shame the Australian Prudential Regulation Authority’s (APRA) stress test that used a 25% drop in house prices in its scenario.

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If it was possible for a market to whistle without a care in the world that’s exactly what it would be doing right now…

Greece on the verge of default – [whistle].

China trying to engineer a soft economic landing – [whistle].

US Federal Reserve increasing interest rates – [whistle].

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It seems that not only is our friend Michael Pascoe unable to see the value of gold, but he is obviously quite incapable of working out a basic sum – that 1 + 1 = 2.

And his unwavering faith in the ability of the Reserve Bank of Australia is commendable, yet completely mad. After all, the RBA is the same crowd that’s overseen the destruction in the value of your money over the last fifty years.

And here’s the proof courtesy of the RBA’s website:

They don’t even hide the fact that they’ve singularly failed in one of their main aims, to provide a stable currency.

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