by Kris Sayce on February 25, 2010
Before we get on to today’s Money Morning, we couldn’t pass up the opportunity to scoff at the further incompetence of government.
As you know, the federal government has spent billions on the stimulus package on the justification it will ‘create’ jobs. Well, now the insulation debacle has been cancelled, what else would a free-spending government do than spend more money to get people not to work.
As today’s Australian Financial Review (AFR) states:
“Mr Rudd said the government would commit $41 million to help firms keep staff on board until the new scheme kicks in, train workers who cannot stay or help those who are laid off to find new jobs.”
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by Adrian Ash on November 12, 2009
THE PRICE OF GOLD in US Dollars retreated from a fresh 0.7% surge early in London on Thursday, falling back from a new all-time record of $1123 an ounce as Asian stock markets closed the day lower.
Crude oil fell below $79 per barrel – higher by more than 75% from this time last year – while government bond prices rose.
The US Dollar bounced 1% from Wednesday’s near-15 month low to the Euro.
Gold priced in both Euros and Sterling rose to fresh 8-month highs, hitting €748 and £677 an ounce respectively.
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by Kris Sayce on October 20, 2009
Of all the ridiculous government organizations, the Australian Competition and Consumer Commission (ACCC) must be the most ridiculous of all.
Yet again, its actions prove beyond any doubt that government is the destroyer of employment and it is the destroyer of wealth.
We’ve lost count the number of times we’ve heard pollies and commentators claim the government is creating or even saving jobs with its stimulus package. Or that it’s helping to create wealth in the economy.
The sad but true fact is that it doesn’t and can’t do any of those things.
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by Shae Smith on October 15, 2009
Morning reader,
Kris Sayce is busy finishing up Australian Wealth Gameplan today. So, I thought I’d share a few words with you this morning.
Yes, he did make me assemble my own chair. And, surprisingly it hasn’t fallen apart – yet.
Kris will be back tomorrow, but in the meantime, grab a coffee and enjoy…
“The signs of recovery being seen around the world are due to huge stimulus packages, which will only prop up economies for another 12 to 18 months before they collapse again.”
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by Kris Sayce on October 14, 2009
“It’s about time we had a look at the US Dollar” your editor shouted across the office to technical analyst Murray Dawes yesterday afternoon.
“Is it the steaming pile of cow dung that it seems to be?” we further asked. Well, Murray has revved up his fancy charting software to see what it tells him about the US Dollar Index.
You can read his analysis of what he calls the ‘US Peso’ below.
Until then, we thought we’d take a look at the ‘Greenback’ too.
So, we asked our self the same question we asked Murray, “Is it the steaming pile of cow dung that it seems to be?”
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