For much of its history, Australia had to wait months for news from the northern hemisphere to reach its shores. Early settlers crowded the docks when a new ship arrived from England to get the 'latest' news. It was usually delayed by at least 6 months.
Our desire for news...for 'gossip'...is still visible today. Australia is one of the largest consumers of 'gossip' magazines in the world. A little sad, yes, but history gives you a clue as to why. It's not only because we're a materialistic, vacuous, unreality obsessed society. It's the tyranny of distance!
But in the modern digital world, distance is becoming a little less tyrannical. Free-to-air networks now promote their latest US offerings as arriving on your screen 'just hours' after their broadcast in the US. Or, if one of those imbecilic Kardashians chipped a nail, opened a Prada handbag or sipped a mega-chino-latte, chances are you'll read about it or see it in one of the thousands of magazines devoted to bringing you such crucial, real-time information.
Come to think of it, the Kardashians aren't imbecilic at all. We are. In the modern fake world, pumped up and promoted by the over-issuance of 'fake' money, society now worships at the altar of consumerism, dreaming of days and a celebrated life. The Kardashians just clip the ticket of all those who want to enter their world, where the grass is decidedly greener.
As the saying goes, beauty, or greener grass, is in the eye of the beholder. The grass is rarely more verdant. It just looks that way when you're standing on the other side of the fence. And for many on that side, it's a barren world of debt and struggle.
It's exactly the same conditions that were so conducive to the Church's high membership rates in centuries past. An offer of salvation from this earthly drudgery! Today, the salvation is reality TV, celebrity worship, and having what you can't afford through the magic of easy money. Then comes the debt hangover, the remorse and the desire to 'escape'. What a virtuous circle...
But we're getting off the point, which is Australia's fast receding tyranny of distance. There IS one investment related area where Australia is well behind the pack. And for those willing to take a punt, it could mean big speculative gains.
We're talking about the shale gas revolution. It's a story Dan Denning has followed for years...from its origins in the US to the deserts of Australia. Forget coal seam gas. The real game changer (and money maker) could come from Australia's massive shale gas reserves in the Cooper and Canning Basin. Click here to find out what Dan has to say about the fledgling industry's future.
And what about the market's future? It weakened yesterday on news of a slump in business confidence and a fall in the iron ore price which sent our major miners lower. But, as always, the banks propped the market up. Today, the ASX is lower again, this time with profit taking in the banks the reason behind the falls.
So, is this just another mini-pullback before the market powers higher again? Maybe. After all, faith in the powers of the world's central bankers is at an all-time high. There is near universal agreement that markets globally will continue to rise while central bankers continue to expand their monetary base.
But Slipstream Trader Murray Dawes is not buying that line at all. The Aussie market's just given him a flashing sell signal. He reckons these investment opportunities only come about once every few years. To find out what's got Murray so excited, check out his latest video showing you the charts you need to see right now.
for The Daily Reckoning Australia
From the Archives...
Why the Stock Market Boom is on Pause
8-03-2013 - Kris Sayce
Why the Dow Jones Record High Doesn't Matter
7-03-2013 - Murray Dawes
Taking China's Economic Pulse from Hong Kong
6-03-2013 - Dr Alex Cowie
Buy Gold When They're Crying...Sell Gold When They're Yelling
5-03-2013 - Dr Alex Cowie
Do You Want to Be Right About Investing, or Do You Want to Make Money?
4-03-2013 - Kris Sayce
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About the Author
Greg Canavan is a feature Editor at the Daily Reckoning Australia and is the foremost authority for retail investors on value investing in Australia. You can subscribe to The Daily Reckoning for free here. He is also the author of Sound Money. Sound Investments (SMSI). An investment publication designed to help investors profit from companies and stocks that are undervalued on the market.