The S&P 500 hit a 14-month high overnight. The conventional wisdom is that two news events are responsible. This is probably wrong. But let’s look at both events anyway and see what happened.
The first is that Abu Dhabi extended a $10 billion in financing to debt-distressed Dubai. Hossanah! Remember, Dubai is not Lehman. It’s Bear Stearns.
December 15th, 2009 | Dan Denning | 5 comments | Continued
It would mean that the hundreds of thousands of dollars, or even millions of dollars that you’ve accumulated in your superannuation fund would be compulsorily acquired by the government on your retirement and in return you would get an Aged Pension MkII.
The worst thing about it is that it was a commissioned submission…
December 11th, 2009 | Kris Sayce | 24 comments | Continued
Spain’s debt has grown from 36% to 66% of GDP in the last two years. This is thanks to a budget deficit of 11.2 per cent this year, and will still be around 10.2 per cent for next year.
Not only that, but the unemployment level in Spain is heading for twenty per cent in 2010. Already a staggering 43 per cent of people under the age of twenty five are out of work.
December 10th, 2009 | Dr. Alex Cowie | 4 comments | Continued
Those are just four messages out of 3,860 posted on the Copenhagen Climate Change Conference website.
Reading just a handful of those messages – all in favour of world leaders “doing something” of course – it’s no wonder bureaucrats and politicians of the world believe they’ve got a mandate to rip billions of dollars from the hip pocket of the world’s taxpayers.
December 7th, 2009 | Kris Sayce | 23 comments | Continued
The weekend edition of the Australian Financial Review has gold on the cover, incidentally. You can see a picture of it a few paragraphs down. Underneath the giant golden letters it reads, “Why you shouldn’t laugh about gold hitting $US2000 an oz.” But if anyone’s laughing, it’s a nervous laughter.
November 16th, 2009 | Dan Denning | 8 comments | Continued
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| All Ordinaries | 4322.600 | ||
| S&p/asx 200 | 4245.300 | ||
| China Shanghai Co | 2351.981 | ||
| Gold Sep 11 | 0.00 | ||
| Clj11.nym | 0.00 | ||
| Nikkei 225 | 8947.17 | ||
| Indu | 0.00 | ||
| S&P 500 | 1342.64 | ||
| Ftse 100 | 5852.39 |
