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Sorry for the late delivery of Money Morning today.  We had a few errands to run this morning and so we started much later than usual… West Texas Intermediate Crude briefly joined its cousin – Brent Crude – above USD$100 last night. It didn’t last.  Even so, WTI closed US trading above USD$96.  And Brent [...]

Another weekend, another blabfest. G20 finance ministers met in Paris.  It seems they’ve agreed to hold another blabfest in April in some other fancy hotel in a fancy city. Meanwhile, according to The Guardian, just 1992.5 kilometres away: “Libya is defying international condemnation of a bloody crackdown that saw troops and mercenaries shooting unarmed demonstrators [...]

In the early 1990s there was a show on UK television called the Harry Enfield Television Programme. It was a sketch-based comedy that ran for several years. One of the characters was called Mr. You-Don’t-Wanna-Do-It-Like-That. On seeing his daughter and son-in-law doing a spot of DIY the old giffer would barge in and say, “You [...]

Your editor’s thoughts are a bit distracted today. We’ve got the weekly update and the monthly issue of Australian Small-Cap Investigator to complete within the next couple of days. So we may be all over the place today. First up, last week I gave you a link to Murray Rothbard’s “A History of Money and [...]

“Bulls call 20pc gain, bears 5pc” That was an Australian Financial Review headline back on the 4th January. The paper had surveyed a bunch of stock market analysts asking for their year-end index forecast. The most bullish was Alva DeVoy at Royal Bank of Scotland, forecasting the S&P/ASX 200 index to reach 5,700 points by [...]

Something’s been eating at us. We couldn’t really explain what it was. But something didn’t seem right. We felt like Lieutenant Columbo. There was a small clue we knew we’d stumbled across. A clue that was staring us right in the chops… but we couldn’t figure out what it was, where it was and why [...]

“You don’t want to take rights away from people… Every now and again you feel those rights are being abused and you say, ‘Do we take rights away or do we just put up with the abuse?’  My response to it varies day to day.” That’s the Australian Financial Review (AFR) quoting Australian Tax Office [...]

Yesterday I wrote to you about the silly headline in The Age newspaper. It was this: “Queensland rebuilding will boost GDP” Look, we love it when we see this kind of nonsense written. Simply because it gives us an excuse to again read Frederic Bastiat’s, “That Which is Seen, and That Which is Not Seen”. [...]

Before we get to today’s Money Morning we just had to relay the exciting news about the Queensland floods. According to today’s The Age: “Queensland rebuilding will boost GDP” We wondered how long it would take the mainstream press to roll out that old chestnut. The mainstream press’s new economic heartthrob, HSBC’s Paul Bloxham said: [...]

Today’s Money Morning contains an extraordinary admission from the Reserve Bank of Australia (RBA). An admission that defies belief. But before we crack on with that, we couldn’t pass up the chance to have a laugh at the big Aussie retailers again. In today’s The Age Myer [ASX: MYR] CEO Bernie Brookes is quoted: “I [...]