Friday, October 31, 2008
Seve Ballesteros making a recovery
Melbourne building developers are in trouble
Prominent builders, developers and architects have confirmed retrenchments, with industry giants Mirvac, Multiplex and Lend Lease laying off hundreds of staff in the next few days.
"Anything that is not already coming out of the ground is extremely unlikely to happen at all," said Tony Crabb, investment director with property strategists Savill."
China's web has caught the fly
Dubai buys Barclays ! Well nearly
Water Wheel Memsie Shiraz shines again
America quietly changes entry rules
Thursday, October 30, 2008
McCain to play hard ball on China
This distorted view of the world led Bush to play hard ball with Iraq(thought they were a push over).....but now hard ball with China? Come on guys, your capacity to play hard ball with China over anything is zilch...I repeat zilch.
Does McCain know that his country is bankrupt and owes China squillions? (thank you George). Play hard ball? go cap in hand more like it! The American people are not going to buy this agressive , tough guy talk any more. They at least know that for the moment they are defeated in more ways than one. And we all want the U.S. back as a strong, moral and credible global entity. Looks like President Obama has a task ahead of him.
Wednesday, October 29, 2008
Alliance Resources a fully fuelled rocket
Four Mile (AGS 25%) is a world-class, high-grade uranium deposit.Consider the following
Decision to Mine using ISR methods has been made by Quasar.=Heathgate=General Atomics
Uranium concentrate production to commence in early 2010, ramping up to 3.0 M lb per annum within 3 months.
Access to Beverley plant infrastructure. Satellite plant engineering commenced.
Four Mile deposits have potential for >100 M lb.
Excellent regional potential for further uranium discoveries.
Project has the support of the State government.
Pipeline of 100% owned projects exploring for gold, copper-gold and base metal deposits in southeastern Australia.Including their near production gold mine at Maldon with a fully re-furdished 100% owned treatment plant which has the capacity to take on external contracts...eg treatment of the ore from Castlemaine Mines.
An outstanding buy with upside to $1.65 by next April.
A uranium monster mine from AGS
This is another extension of the biggest uranium disovery in Australia in more than 20 years.
And the fact that the Blue Brothers and General Atomics through subsidaries are the joint partners must get one's antennas on alert.AGS is a rocket on the launch pad!!!
Tuesday, October 28, 2008
Has Owen Hegarty done it again with Citadel?
"MORE HIGH GRADE GOLD INTERSECTED AT THE SHAYBAN PROJECT
INITIAL ASSAYS FROM CITADEL’S SECOND DRILLING PROGRAM CONFIRMS BROAD ZONES OF HIGH GRADE GOLD MINERALISATION
Highlights:
• RC drilling continues to outline significant gold-rich zones at Jabal Shayban.
• First 3 holes of the current drilling program all returned significant results.
• Assays confirm continuity of primary high-grade gold zones at Shayban, further demonstrating the potential of the prospect to host significant gold resources."
And copper is there also!!
China to bail out Russia
Monday, October 27, 2008
What's a four put?
... "I miss, I miss, I miss......ball goes in!"
Good luck to Seve as he under goes his greatest test.
China's Agricultural Revolution
Railway's = iron ore...rolling stock...technology...employment...modernisation etc.
Sunday, October 26, 2008
China Construction bank in profit
CCB's net profits grew 11.95 percent to 25.6 billion yuan ($3.74 billion) from July-September.
Of course the next quarter is critical...but at least the figures coming out of China are more transparent now than the ones out of Wall St and Fleet St etc etc.
The West screwed us!!! Watch China and Australia will benefit!!
China stays pro-active. Scraps taxes. Hold your ASX juniors.
The Government said the decision was aimed at maintaining a stable and healthy development of the capital market.
In another move to boost domestic demand the country has also scrapped the 5 percent individual income tax on savings interest earnings. The long march continues...Don't sell your resource stocks with a market in China.
Saturday, October 25, 2008
A Passing Cloud that's welcome to linger
Another $292 billion to keep China on the go
Increasing investment in its fixed assets has remained one of China's main strategies as it moves to maintain its growth against other failing economies. By 2010, the total length of China's railway will reach 90,000 km, according to its Ministry of Railways. It is politically imperative for the Chinese Government to keep employment up as factory production declines.And it will do so.This announcement along with rural reforms and property market re-structure indicates that China will use all available resources to keep it ahead of the West.
Major railway projects will be started almost immediately.In 1997 they kept things on the boil by building all those freeways and roads...now the rail system! Keep watching the China phenomenon.
Friday, October 24, 2008
Bargain basement. Never to be repeated.
Another US$40 billion to offset foreclosures...determines China asendency
Follow the cashed up Sovereign funds and get some bargains.Banks, Mining suppliers, near term producers. China is still on the long march
Asia planning a new world order
Near term producers on the ASX will be 10 baggers as commodity prices quickly recover as reserves dwindle. Try BCI, BSM and AGS for starters!!!
Russia is also gone
China pursues growth
This all fits with their decision to use their financial strength to develop domestic markets when the rest of the world has lost that capacity.And they will be buying key global assets. Read my China posts!!!
Can a bottle of wine console market loosers?
"Cue Le Bouchon Breton" is a new French brasserie, Champagne and shellfish bar in Spitalfields market.It is handy to all those "no tomorrow" bankers and can accommodate 320 drinkers and diners. There's a 2001 Petrus for 2,200 pounds ($3,553) if you are feeling lucky.Or optimistic!
Torzi Matthews "Schist Rock"
Is China the last sovereign fund standing? Russia is falling.
Wednesday, October 22, 2008
$2 trillion in foreign exchange reserves
China stimulates property market
Tuesday, October 21, 2008
Uranium stocks go for a run
CAMECO .....+9.67%
PALADIN .....+11.80%
URANIUM ONE .....+10.10%
FORSYSTH METALS .....+1.29%
DENISON MINES .....+5.23%
URANIUM PARTICIPATION .....+0.20%
FIRST URANIUM .....+26.95%
MEGA URANIUM .....+4.63%
ALTIUS ......+5%
UEX CORP .....+2.33%
Monday, October 20, 2008
RBA Chief acknowledges China's growth path
This is in line with the growth figures out of China at the weekend. Not sure that a 9.9% continuing growth is any cause for concern The drop in commodity prices has more to do with the antics of Hedge Funds rather than the real economy.
20 billion reasons to be confident
1.Primary production was up by 4.5% Grain production has been up for the past five years.Pig production is up6%
2.Fixed assett investment continues to grow particularly in rural areas where growth is fastest.
3. Domestic retail sales are up 22%.
4.Rural and Urban incomes continue to grow (11% and 7.5%).
5. Savings continue to grow.
6.While industrial production slowed profits increased. (up19%)
Now if all that is a cause for concern then show me the door! The long march continues!
Is 9% growth a negative?
Kurtz family wines a hidden Barossa gem
Sunday, October 19, 2008
China stimulates its economy
China is beginning direct startegies to stimulate its economy.It may cut interest rates for the third time this year after weaker export orders and factory closures for the Olympic Games dampened industrial output. The nation will raise investment in infrastructure and boost export-tax rebates to protect the economy from the increasing risks posed by the financial turmoil, the cabinet said yesterday.
There are no options for the Chinese government except to stimulate the economy -- more monetary easing is needed,'' said Sherman Chan, an economist with Moody's Economy.com in Sydney. She predicts five rate cuts by mid-2009 and the abolition of quotas that limit banks' lending. China is determined to stay ahead at the moment and to use its considerable advantages to become the world's most powerful economy.
Melbourne train system is broken
The following report is in today's Age.
Melburnians want better system:
Commuters are crying out for a better public transport system while the State Government pours hundreds of millions of dollars into the city's roads. Almost one in three Melbourne drivers have reduced their car use in the past year, research by public transport promotion and information service Metlink found. And 94% believe the Government should be spending more on public transport. Extra spending on roads was supported by 55% of those surveyed. The survey comes as the State Government commits hundreds of millions of dollars to new road projects, including a $1.4 billion upgrade of the West Gate-Monash Freeway and a $700 million Frankston bypass, announced last week.
Metlink said Melbourne's "rail infrastructure has not changed significantly since the 1950s, yet the urban area has nearly doubled". Chief executive Bernie Carolan said the survey showed many car users prioritised investment in public transport over roads. "For this city to continue to be the sort of place we like it to be, we need a rich mix of public transport," Mr Carolan said. In its submission to Infrastructure Australia, Metlink calls for a new rail tunnel between Footscray and Caulfield - which would boost City Loop capacity by 40,000 passengers an hour - and for a rail line from Werribee to Deer Park. A Public Transport Users Association analysis shows money spent on new roads in Melbourne by state and federal governments since 1999 has been five times that spent on new public transport."
Well tell me something I don't know!! I have recently returned to Melbourne from rural Victoria for a few days a week to fulfill a consultancy contract. I catch the train from a Zone 1 station. Invariably trains are cancelled or delayed and are usually dirty .Recently I hopped on a train at Spencer St. (It may have a new roof but it is still dusty smelly Spencer St with little protection from the North winds). It was going to Werribee according to the boards and the announcements. By the time it arrived at Flinders St. it was going to Broadmeadows...only alerted by the conversation of passengers who got on at Flinders. Jumped off at at Melbourne Central with other confused travellers.And waited waited for the Werribee train.The other annoying failure is to be waiting on a station with your destination highlighted as the next train..then...boom ...the message reads Do Not Board This Train....Listen for an Announcement...Crikey talk about a lottery!! The system is broken!!!....does not work!!!!is staffed by defeated low morale workers who are clearly embarrassed and feed up!! Get Brumby and a few of his Cabinet apologists to stand around city stations for a few hours a week (if they know where the stations are). It is a really inefficient,drab, dirty,uncaring, insulting service to Victorian working people.Perhaps turn the system over to Intralot,Tatts, David White and Tony Sheehan who could sell us lottery tickets for a comfortable train ride!! Or send the Transport "Minister" to H.K. to experience a train system that works and does so with out drama, waste and corruption!
America's debt = China's ascendancy
America is a broken economy like really broken. George W. and his witless advisors seemed to have no idea that they existed on a planet that was somewhat bigger than the state of Texas. What a shame George didn't have a passport before he "dubiously" became President!! And a greater shame is that if he had one he might have used it to remove some of his restricted, dumb, biased and dangerous beliefs about the world outside Texas and the USA.
What has he done? Well he dropped his country and its people in it! eg
During his two terms the USA has borrowed more money from foreign governments and banks than all other American administrations put together, from 1776 to 2000. And more debt will be added in the eight Bush years than in the previous two hundred. The trade deficit more than tripled since Greenspan stumbled into Washington, from $150.7 billionto $830 billion by 2006. The United States was a creditor a few years ago. Now, it is a debtor, with more than $14 trillion worth of U.S. assets in foreign hands, a more than 520% increase since 1987.
So why are we surprised at China's ascendancy...George borrowed from them like there was no tomorrow! But there was a tomorrow which is now today. And if you can't pay your loans the creditor takes your assets. Good night George and good night America.
Another buyer of Montec
Anthony Phillip bought 3,550,000 Montec International shares worth $63,830 between May 19 and September 19, 2008 becoming a substantial shareholder with 8,000,000 shares (5.17%).This follows my previous report of the NSW Real Estate identy taking a big stake. Watch it!
China slowdown? Not likely
I wouldn't be too convinced of the "Chinese slowdown" syndrome. You can bet that China will not let this opportunity slip to steal a march on the U.S. It has huge sovereign reserves, is owed trillions by the US and is slowly (maybe not so slowly) taking control of the US financial system.It will now act more aggressively while they can still deal with a broken Government and devasted economy. Get online and read a selection of Asian newspapers to get a feel.
China is not about to go into a deep sleep but rather will continue the long march.
American Presidents and Golf Aspirations
A history of the American presidency has uncovered a startling truth for occupants of the White House. You can lie and get away with it. You can harbour secret vices. But once you step on the golf course your true character is laid bare.
Fourteen of the last 17 presidents have been golfers, and their conduct on the links is a metaphor for their place in history, the book argues.
Many presidents have abused the perks of office, bending the rules and taking "mulligans" (free repeat shots), the author, Don Van Natta Jr, discovered.
Few were as blatant as Richard Nixon, a joyless player whose swing "looked as if he was trying to beat the dust out of a floor rug".
Playing the leading tournament player Sam Snead, Mr Nixon sent a shot into a dense thicket. Snead waited for the president to take his loss, drop a new ball and play on. Instead, he saw a ball arc high out of the woods on to the fairway, followed by the president "looking real pleased with himself", Snead recalled. "I knew he threw it out, but I didn't say anything."
Lyndon Baines Johnson, the master manipulator, played golf like he played politics, says Van Natta in First Off The Tee. L B J would simply ignore his bad shots, fish a new ball out of his pocket and hit it. "No permission was sought, ever." He routinely took 300 swings per round.
Worst of all was Bill Clinton. Van Natta once wrote a searing New York Times exposé of Mr Clinton's claim to have shot a round in 78, a personal best. It noted the president's endless mulligans and "gimmes" - his habit of asking opponents to give him putts from as far as 50 feet away.
When Van Natta asked to play golf with Mr Clinton last year he was surprised that the ex-president accepted. "He was on his best behaviour for about a hole and a half," Mr Van Natta said yesterday. "After that it was his usual game of three shots off the tee.
"He would get out to the fairway, there'd be three balls there, and he'd ask, 'Now which of these was my first one?' " More often than not, the other players replied: "No, Mr President, it's this ball closest to the flag." Mr Clinton, chewing on an unlit cigar, then happily played that "first" ball.
"I estimate that he took 200 swings during our 18-hole round, but he had an 82 on his score," said Van Natta.
The best was John F Kennedy, who had a "perfect, almost effortless swing". J F K would sneak out of the White House for secret rounds to avoid photographers, not least because he had denounced his predecessor, Dwight Eisenhower, for playing too much.
Gerald Ford became the butt of jokes. He hit at least half a dozen onlookers during his golfing career.
President George W Bush and his father play together, though the elder now has to play off the ladies' tees. "I am getting a little tired of my sons saying, 'Don't trip on your skirt when you hit the next one, Betsy'," Mr Bush snr told Van Natta.
From The Tribune
How the mighty have fallen
While quick to jump on the "tiger economy" bandwagon in the up years, Western bankers were just as quick to criticise South-East Asian economies for poor lending practices, lax credit standards and draconian restrictions.How the mighty have fallen.
The Asian economy bail-outs during their crisis came from the International Monetary Fund but with them came strict criteria. As part of the conditions for its initial $US3.9 billion standby credit from the IMF, Thailand suspended 58 finance companies. The remainder had to strengthen their capital base and mergers were encouraged. Indonesia was required to have its state-owned banks audited by internationally recognised accounting firms for its $US10 billion.In contrast the US bank rescue package was revised last week to include $US150 billion in tax concessions for individuals and businesses.Political expediency at its silliest! It also included an increase in the sum of bank deposits covered by insurance to $US250,000 from $US100,000.The Asian crisis IMF rescue packages, which started in 1997, may pale in comparison with the $US700 billion package but their upshot - the stronger financial systems that eventually resulted - means Asia is in a much stronger position to weather current financial instability. Compared with the US, Asia's banking systems now could almost be called healthy. As one commentator noted this week, the irony will not be lost on many in Asia. And the Chinese Government will not be slow to take advantage.
Saturday, October 18, 2008
China to maintain foreign press access
Golf and the American Presidency
China stokes the engine
Friday, October 17, 2008
OZ banks No fear ANZ talks turkey
Big artificial bang today on Wall St
80 million options expire today so expect some wild swings on the DOW
Owners of the contracts on stocks, indexes and exchange- traded funds have until today's close to take advantage of the rights granted by the calls and puts they own. Investors are preparing for the possibility that market makers will boost volatility by buying and selling stock to hedge the risk of the options they have facilitated. Expect fireworks!!!
George Bush and his last pathetic stand
The president cautioned that it will take time(again How much time George?) to thaw out the frozen credit system so that people and businesses can get the loans they need to get the economy moving.Bush, offering his(dodgy) reassurances in a speech to the U.S. Chamber of Commerce Friday 17 Oct., said the rescue moves are ''big enough and bold enough to work.''He says the U.S. is working with European nations (George! Have you heard about China and the rest of Asia? and have you conveniently forgotten your Middle East mates?) to resolve what has become a global crisis. He said, ''We're determined to overcome this challenge together.' Hmm! First time George has used the together word...He will go down in history as Unilateral George! The architect of global failure and division!!
LIBOR rates improve
Montec Chinese partner in Corporate play
Thursday, October 16, 2008
Vendor Terms Resurrected In the Housing Market
Wednesday, October 15, 2008
China Plans Land Reform
Old Australian Pottery Prices Soar
Tuesday, October 14, 2008
China continues milk shake up
The government announced limits for allowable traces of melamine last week. If the recalled products meet the new standards, they will be put back on the market, the government said. Dairy products thought to have a real risk of melamine contamination were already recalled weeks ago, right after the milk crisis first emerged. The recall announced Tuesday was an effort by the government to show the public that it was enforcing its new trace melamine limits.All good for Montec..which so far has a clean slate.