Economy - Finance - Is the Perfect Storm Brewing for the World

I have a 'gut' feeling that the World is heading for what I would call a 'Perfect Storm' and I'm not talking Mother Nature (that's another worry) !
What I am most concerned about is the current condition of the 'Financial World' and that my friends effects all of us, no matter where you live !!!
[Disclaimer: Let me say up front that I have no formal Financial Education and any opinions expressed by me are only that 'opinions' !
My opinions are based on over 40 years of being a Business Owner and being able to survive through a number of so called Credit Squeezes and Recessions]
My big concerns are listed below but not in any particular order as in their own right they are all important:
  • Interest Rates, historically low (America at 0%, Australia 2%, this is making borrowing 'too' easy which leads to more 'debt'!
  • Debt both Domestic and Soveriegn, the numbers in the Debt ledger are mind boggling ( and if numbers I have read are true debt has nearly trebled since the GFC in 2008)  Prob due to the first point above!
  • Gross Domestic Product, at .2% growth Australia is a whisker away from being in a 'recession' cycle!  and it is 24 years (so I'm told) since Australia has had 'negative' growth.  Bad Sign that one :(
  • Refugee situation, you might say what has the refugee situation got to do with 'finances' ?  I just ask ?  Where does the money come from to pay for the Refugees being relocated to all the Countries that are being compassionate enough to accept them into their welcomeing arms?
  • Global Warming,  again the cost of 'fixing' Global Warming seems to be aimed right at the Taxpayers Pocket!
  • Government Fragmentation, by this I mean the inability of the Ruling Party of Government, no matter, where in the World be it in the USA or Australia , to get through Laws that are needed to encourage Progress!
Sorry for my 77 year oldies Rant but I am not holding out much hope for the future :(  However I would sure love to hear from one of my readers with some good news  !
Cheers for now
Image attribution: Jeny -


Mr Malcolm Turnbull new Prime Minister of Australia

As the old saying goes
 'Everything comes to he who waits'
 or rather more like Thomas Edison is believed to have said
 'Everything comes to he who hustles while he waits'

The Honorable Mr Malcolm Turnbull has been sworn in as the 29th Prime Minister of Australia ! This also makes him the 5th Prime Minister that we have had in 5 years!
Mr Turnbull rolled Tony Abbott in a party room ballot on Monday night in what is regarded as as a walk-over 54-44 .
 Julie Bishop was re-elected as Deputy leader with voting being 70-30.

Although over the years there has been many 'stabs in the back' not a drop of real blood has been spilt :) 
Earlier this year Mr Abbott survived a 'spill' and won by the narrowest of margins however there has been rumblings going on for months and it finally came to a head on Monday when Julie Bishop and Malcolm Turnball called on the then PM Abbott for a party room 'spill' of positions!
Begrudgingly (my word) Mr Abbott agreed and in my opinion made the mistake of bringing it on the same day.
 This I feel might have been his downfall as it did not give him time to get his 'followers' marshalled and he fell into the well laid out plan of Mr Turnbull/ Ms Bishop.
  Well I'm going to stick my neck right out here and say that is my belief that Malcolm Turnbull is the man for the job.
My Patio Buddy (Geoff) and I have been discussing this for a long time and both of us have seen many leaders 'come and go' and most have been 'found wanting'!
Then again 'what would we know' ;)
My congratulations go out to Mr Turnbull and hope that he has the 'communications ability' to unite the Government and get on with the job of making Australia a GREAT country , only time will tell :)

Image attribution: "Lucy and Malcolm Turnbull (6707565323)" by Eva Rinaldi from Sydney Australia - Lucy and Malcolm TurnbullUploaded by russavia. Licensed under CC BY-SA 2.0 via Commons -


JB Bart Cummings passed away !

Sad news today !!!
Bart Cummings has passed away aged 87 :(
OK I hear you ask who is Bart Cummings?  If you have never heard of him you would have to be from another Planet ?
I'm sure every Australian, would have heard of Bart Cummings?

Bart was probably the most successful Horse Trainer in the history of Australian Thoroughbred racing, if not the whole World and his feats of training success is 'legendary' and I am not exaggerating !
Here are some of his major successes :

Melbourne Cups, surely everyone has heard of the Melbourne Cup, the ''Race that Stops a Nation''
Well Bart Cummings did not just train One or Two winners of the Melbourne Cup Oh no... he trained 12 yes you read that correctly Twelve !!!
Starting in 1956 with a horse called 'Light Fingers' and his last winner was in 2008 with 'Viewed'.
  No one has ever come close to this achievement and I dare to say it will not happen again for a long time, if ever!

Bart also trained over 250 Group One winners and numerous other races and always seemed to have horses running at tracks all over Australia.

The Cummings name will not be lost to racing as Bart Cummings was passing on his uncanny knack of 'picking' great horses to buy and train to his Grandson who hopefully will continue on with Bart's Legacy :)

Rest In Peace Bart Cummings

a sad Opa


The Australian Federal Election 2013

The Australian Federal Election held on 07 September 2013 has been conducted with what I regard a resounded defeat for the Australian Labor Party (previous Government).
As it stands at the moment the Liberal and National Parties (The Liberal/National Coalition) will hold 90 seats (a gain of 17 seats) and the Australian Labor Party will hold 54 (loss of some 18 seats)
The balance of the seats split up between The Greens and others. Some seats have yet to be decided.

The result was a clear message to Labor that they had lost the confidence of the Australian Electrate and it was time for a change.
The huge loss, I believe it was the lowest primary vote for Labor in a long time, forced the resignation of the Caretaker Prime Minister who had replaced Julia Gillard as PM not long before the Election was called by Mr Rudd.
In my opinion among the majority of people was that the result was a foregone conclusion and the Bookies had stopped taking bets on the result weeks before it was held :)
Now the the dust is settling it is time for the new Government led by Tony Abbott to get on with the job that they have been mandated to do and get the in-fighting of Politics off the front page of the Newspapers.
 Labor has a long way to go in regaining the confidence of we Electors, the first part is to elect a new Leader.
 And that dear readers is a whole new story.
 cheers till next time :)


Australian Election 7th September 2013

OK Australia after, what seems like an eternity, we have finally been given an opportunity to vote ourselves a Government that can actually govern !
 Australia goes to the Polls on the 7th September 2013 !
  For way too long this country has been under the control of a  minority Government (Labor) which has had to pander to the demands of the very minor parties and Independent Politicians.
  Then we had the farcical Leadership woes of the Labor Party to contend with.
  First Kevin Rudd was ousted ( read stabbed in the back ) by Julia Gillard.
 Then after winning ??? an election Ms Gillard was herself ousted ( read stabbed in the back ) by the same man she stabbe... oops sorry ousted to once again become the Leader of the Ruling Labor Party.
   Not to mention the Pink Batts Insulation Scandal?

I have heard many times that History has a habit of repeating itself?

Please, Please speaking as one who has seen many elections in my 70 odd years I can say that there are not many Labor Prime Ministers who can say that they have left the country in a better state than when they came into office.

Now that I have bagged Labor I have to offer an alternative Prime Minister.
 Now that is the catch, the man that I think would make the best PM is not even in the contest for the job so I have to give up and name the next most viable choice.
  The only other viable choice is and I say this most reluctantly is Tony Abbott !

In his favor Tony Abbott has been the Leader of the Liberal Party for some time now and from the outside looking in he appears to be running a tight ship and all the squabbles are being handled in House so to speak ( there are always squabbles when you have men with big egos all wanting to get their own way).
  If the Liberal/National Party are elected they will be handed an estimated 30 billion Dollar deficit to overcome.  Just a reminder that to win the last election Labor 'promised' that there would be a surplus by 2013 then 'adjusted' that to a small deficit early this year and now the estimate is 30 billion dollars, god knows what the real figure will be when the dust settles after the election.

So Australia do the right thing and elect a Government we deserve.
Cheers for now and lets see what happens on Saturday.
On a more important note my football team Richmond (Tigers) are in the finals for the first time this Century.  Go Tigers :)