The main conclusion was that Australia would see rising export earnings on higher volumes but moderating commodity prices. In other words, the China boom will drive export volumes for the next five years. But you won’t see any more mammoth increases in commodity prices.
March 3rd, 2010 | Dan Denning | 2 comments | ContinuedAll Posts Tagged With: "asic"
Debt Problem Has Not Gone Away
Banks have recapitalised, making up for some of their losses from 2008 and 2009. But you still have a financial system addicted to debt and leverage. Investors have bought into the recovery story, though, and taken a punt on shares at just the time they ought to be reducing their allocation to shares (in our estimate). Why?
January 29th, 2010 | Dan Denning | 12 comments | Continued
Oil Contango Narrows
Hey what’s this? Oil prices were up nearly 9% in New York, or about US$3.73 a barrel to $45 a barrel. OPEC production cuts and inventory reductions have brought global supply more into line with global demand (which is dramatically reduced owning to the world financial calamity).
March 5th, 2009 | Dan Denning | 4 comments | Continued
To Save the Consumer We Must First Destroy Him
Thank goodness for Wal-Mart. After Aussie stocks fell over six percent yesterday (the ASX/200) to four-year lows, Wall Street sprung into action overnight. America’s largest discount retailer reported a 10% rise in third quarter profits. It also revised down its expectations for 2008 year-end earnings. The stock was up 4.4%. Wal-Mart’s current marketing slogan, by the way, is “Save Money. Live better.”
November 14th, 2008 | Dan Denning | 5 comments | Continued