This is default featured slide 1 title

Go to Blogger edit html and find these sentences.Now replace these sentences with your own descriptions.

This is default featured slide 2 title

Go to Blogger edit html and find these sentences.Now replace these sentences with your own descriptions.

This is default featured slide 3 title

Go to Blogger edit html and find these sentences.Now replace these sentences with your own descriptions.

This is default featured slide 4 title

Go to Blogger edit html and find these sentences.Now replace these sentences with your own descriptions.

This is default featured slide 5 title

Go to Blogger edit html and find these sentences.Now replace these sentences with your own descriptions.

Labels:

Takeya Classic Glass Water Bottle with Silicone Sleeve, Purple, 16-1/2-Ounce


Features
  • High quality glass bottle provides a healthier way to drink
  • Silicone sleeve provides a good grip, a see-through window, and protects the glass vessel
  • Eliminates toxic leaching that plastic can cause
  • Innovative design holds 16-1/2 ounces
  • Dishwasher safe

List Price: $19.99
Special Offer: check this out!

Related Products

Product Description
This Takeya Classic Water Bottle features a high quality glass bottle with a wide mouth, and is encapsulated by a silicone jacket that provides a nice grip, as well as protection for the bottle. The sleeve has a see-through window for checking the liquid level. The twist-off cap is airtight and includes an easy carry loop. This H2O bottle provides a healthier way to drink, and eliminates metallic or plastic tastes, and leaching from toxic plastics. This bottle holds 16-1/2 ounces, is dishwasher safe, and is available in several colors.


Buy Glass Water Bottles online at LuckyVitamin.com Shop online for Glass Water Bottles at discount prices at Lucky Vitamin. Save on brand name Glass Water Bottles and Water Purification & Storage. Secure online shopping. Takeya Classic Glass Water Bottle with Silicone Sleeve, Black ... This Takeya Classic Water Bottle features a high quality glass bottle with a wide mouth, and is encapsulated by a silicone jacket that provides a nice grip, as well ... Roz designz christian web design company Think PINK! Contact roz for an affordable website package customized especially for you. What's New? Ecommerce-get your store online today! Beautiful Blue Blenko Glass Water Bottle Sports and Outdoors ... Exclusively ours. Engraved on the base to commemorate our 40th anniversary, this classic Blenko Glass carafe is handmade in Milton, West Virginia. Amazon.com: Takeya Modern Glass Water Bottle with Silicone Sleeve ... This Takeya Slim Glass Water Bottle features a high quality glass bottle with a wide mouth, and is encapsulated by a silicone jacket that provides a nice grip, as ... Simple Steps to Prevent Water Pollution - Squidoo : Welcome to Squidoo Preventing pollution of our waterways is everyone's responsibility. Our oceans, lakes, rivers and streams are suffering from industrial waste and unhealthy farming ... Facebook, Apps, Twitter, Backgrounds, Free, People, Search ... Apps Facebook Search Twitter Free Youtube Videos Funny Pictures Watch Movies Online Stock Photos Craigslist Jobs American Idol Dancing With ... bottle sleeves eBay - Electronics, Cars, Fashion, Collectibles ... Find great deals on eBay for bottle sleeves and lifefactory sippy. Shop with confidence. Glass Water Bottle 5 Gallon Sports and Outdoors - Shopping.com Explore our large selection of top rated products at low prices from CoasterStone, 3d Rose, Water, Lixit, and Takeya Amazon.com: Takeya Classic Glass Water Bottle with Silicone Sleeve ... This Takeya Classic Water Bottle features a high quality glass bottle with a wide mouth, and is encapsulated by a silicone jacket that provides a nice grip, as well ...

0 comments
Labels:

Property Update: Lessons from the UK crisis

I write for Property Update today on the topic of the UK housing crisis.

You can read the article here.




0 comments
Labels:

The accelerating Australian population boom

It's a bit of a mystery to me why people are so keen to try to dismiss population growth as a key factor which underpins our major capital city property markets.

I mean, just take a look at today's numbers from the ABS:


Source: ABS

In the year to December 2012, the population of Australia increased by 394,200 people or 1.8%, which is way ahead of the long-term average of 1.4%.

Of course, population growth does not occur smoothly across the states. 

In some states such as South Australia (+15,600), ACT (+8,600), Northern Territory (+4,200) and Tasmania (+400), the absolute growth numbers continue to be quite small. I don't expect that to change too much.

On the other hand, take a look at what is happening in the states which house the major capital cities.

The population of WA is absolutely booming by 3.5% in the year to December 2012 or 83,000 people, so it's little wonder that the Perth property market is flying.

And in Queensland (+92,500), Victoria (+99,500) and New South Wales (+90,400) the population growth continues apace.

People continue to head largely to the capital cities, and so it's little coincidence that over the past 12 months prices in Sydney (+4.61%) and Perth are smoking along (+7.8%). Growth in Melbourne has been a little more subdued (+2.12%) but then, why wouldn't it be? Melbourne has, after all, experienced a quite phenomenal boom in prices since 2007.

It's small wonder that we struggle to keep up with accommodation and infrastructure needs with population growth figures such as these reported today.

0 comments
Labels:

Return of the Urn 2013? Poms 1 Green caps 0

Unbelievable stuff in the first Ashes Test in Nottingham, with England squeezing home by only 14 runs.

Australia are now $4.50 to win the series if anyone is feeling brave...

Can't wait for the 2nd Test at Lords!

0 comments
Labels:

Gold capitulation continues

A big bounce for Aussie stocks today up around more than 1.6% following positive US economic data.

But gold shed another 3.3% to just $1,228/oz. 

In the second half of 2011, prices had stormed up to $1,900/oz but this year alone the precious metal has lost a quarter of its value.


Source: kitco

0 comments
Labels:

The nature of growth

Greetings from bright but rather brisk England where I've been hanging out for the past week. Busy as ever, I've been taking in a bit of culture, being the history buff that I am. 

In the last week, I've visited the ruins of the 6th century fort of Bolingbroke Castle, which was once one of the most important sites in Britain, being the birthplace of Henry IV. Today, it's essentially a mound of earth and a pile of stones in the countryside, but tremendously interesting nonetheless!

This morning I also visited the magnificent Kings College in Cambridge which was founded by Henry VI in 1441, and the restoration of which - a bit like the unending painting of the Sydney Harbour Bridge - seems to be an ongoing, 365-day-a-year job.

And, just in case all that wasn't tiring enough, I've also been spending some time with my three nieces.

Not having children of my own, I forget just how darned noisy and energetic kids can be, and I'm also amazed at how they seemingly eat round the clock: breakfast at 7am, sausage sandwiches by 9am, morning snacks by 10.30..."Well, they're growing kids, y'know..." - and it's true enough, they definitely are growing!

Physical growth and price appreciation

So, what have I missed in the world of Aussie real estate this week? Prices are on the move in some cities, it seems, with data provider indices showing some "growth".

A couple of commentators have again highlighted the risks inherent in mining towns, noting the possibility of land being released. I wholeheartedly agree with this assessment, although I note that this risk extends to many regional towns in general: land being available for release introduces a risk of very weak real long-term price appreciation.

Over here in the chilly south-east of England, it's very noticeable how so many former greenfield sites have been developed on the fringes of provincial towns and the smaller satellite cities in recent years. New property developments are sprouting up all over the place in fringe suburbs, with the UK Government and Bank of England pushing things along with its 'Help to Buy' scheme and ZIRP respectively.

While UK median prices have shown a very moderate uptick (this can happen when new builds come online), in many areas outside London the prices of existing properties remain way below where they were in 2007.

Remember that the physical growth of a town or city does not necessarily equate to price growth in existing properties, and this is especially the case where new land is being released.

In London, the dynamic is markedly different. Not only is there a massive, growing population and almost no prime land available for release, investors from Britain and overseas who were spooked by share market crashes during and after the financial crisis are simply throwing money at the property market, pushing prices up to unheard of levels, way ahead of their previous peaks.

"Room to grow"?

Some commentators say that investors should buy in the cheapest quartile of the market where properties have "more room to grow". 

But properties do not "grow", unless of course you are investing in building them to make them bigger. No. Instead, properties, just, well...kind of sit there.

Plants grow. Trees grow (though, as the saying goes, trees don't grow to the sky). My nieces grow. 

But properties do not grow.

And besides, why on earth should each successive generation pay more for property than its immediate predecessor? Particularly now that the deregulation of lending standards and products is well in the past and interest rates have fallen to as close to the 'zero bound' as they hopefully ever will be in Australia. 

If you want investments to grow - like my nieces - they need to be fed. You need to re-invest in them.

If you want a term deposit to grow, re-invest the interest.

How do companies grow? Because companies tend to only pay out a small portion of their net earnings as dividends and they retain sufficient capital to re-invest in the business. 

This is why value investors and Buffett-types seek businesses with strong and growing owner earnings (reported earnings with depreciation and amortisation added back, less capital expenditure for plant and equipment) - they want companies which can be self-perpetuating and are able to re-invest in their own futures.

If you want to grow your own share portfolio, re-invest your dividends via a dividend re-investment plan (DRP).

But, I'm afraid to say, properties do not "grow", especially if you take the approach recommended by some pundits of not maintaining properties to a reasonable standard.

In fact, if you don't re-invest in a property regularly through paying for repairs and maintenance (as the chaps do at Kings College in Cambridge nigh on continually) then eventually the property will fall down and you will be left with a pile of rubble and some earth (such as exists at Bolingbroke Castle in rural Lincolnshire).

Price growth

It's common to talk of "market value" or "intrinsic value" in the world of real estate. 

But what is market value? It's really only what another individual or entity will pay for the title at a given point in time.

Imputed rents don't make for a great measure of 'fair value' in residential property for they take little account of the emotional factors impacting homebuyers. In property, price is perhaps a far more appropriate word to use than value.

All things being equal, the price of a property should only move in line with inflation: as the currency becomes gradually worth less over time, the price of property should slowly tick up accordingly, but no faster than inflation.

A property in strong demand might potentially move rather in tandem with the growth in household incomes over time, with the effective speed limit for price growth being the ability of the populace to service mortgage repayments.

So how does an investor source price growth which outperforms inflation over the long term? Ultimately, unless you are a skilled renovator (and, let's face it, most property investors definitely aren't) there's only one way that it is possible to do this, by finding a property which:

(1) is in an area with a strongly increasing population, with real wages appreciation and booming demand;

(2) is in an area where there is little or no land available for development or release and thus supply does not keep pace; and

(3) where investors are pushing up prices through seeking returns on their capital.

This discounts most regional markets and fringe suburbs where land is available for release, demand is very low and price-to-income ratios remain subdued.

The markets which are fitting the criteria for price growth at present are Perth, Sydney and Darwin and prices are increasing accordingly.

Investors tend to prefer capital cities and the combination of land-locked suburbs and growing populations tend to be a happy one for investors and an unhappy one for homebuyers, pushing the price of the prime-location land ever higher. 

0 comments
Labels:

Gloves In A Bottle Shielding Lotion 8 fl oz (240 ml)


Features
  • A shielding lotion: rapidly absorbs, protects the skin to retains its natural moisture-Like wearing an invisible pair of gloves!
  • Actually prevents dry skin, unlike conventional lotions which only act as a temporary (ineffective) solution.
  • Made in USA; Hypoallergenic, Fragrance Free, Colorant Free, Non-greasy, Non-sticky.
  • Used & recommended by thousands of dermatologists for all dry skin, including itchy, cracked skin.
  • Alleviates eczema, psoriasis, contact dermatitis, skin allergies, sunburn, handles cracked skin, snagging cuticles.

List Price: $15.99
Special Offer: check this out!

Related Products

Product Description
Recommended by dermatologists, Gloves in a Bottle bonds with the outer layer of skin creating a protective layer that helps retain your skin's natural moisture. Unlike conventional moisturizers that attempt to replace the loss of natural moisture with artificial moisture, these invisible gloves help alleviate dry skin by preserving your body's moisture. Works wonders on hands, feet, elbows, knees and heels. Non-greasy, non-sticky, fragrance-free, hypoallergenic, non-toxic and undetectable when dry. Does not wash off, but comes off naturally with exfoliated skin cells. Reapply every 4 hours. 8-ounce home size.

When you apply artificial moisture (conventional lotions) to the skin's surface you are often sending the body the wrong signal - that your skin is being adequately moisturized, when in fact it is actually dehydrated of natural moisture. This "wrong signal" often results in the reduction of your skin's own production of the natural moisture needed to actually resolve a dry skin condition. In addition, such conventional lotions only temporarily mask dry skin by placing artificial moisture over the top of it. Unlike artificial moisturizers, Gloves In A Bottle is a shielding lotion that bonds with the outermost layer of skin cells to turn it into what works like an invisible pair of gloves.

These "invisible gloves" prevent dry skin by helping to keep moisture-robbing irritants OUT while better retaining your skin's own natural moisture, resulting in skin that is far better hydrated, over the long term, than what can ever be achieved by conventional lotions.

When you know you ought to be wearing gloves, but can't or just don't want to because they are also drying or irritating, at least wear Gloves In A Bottle. One application of Gloves In A Bottle lasts four hours or more and comes off naturally as you exfoliate the outer most layer of skin cells.


Gloves In A Bottle Shielding Lotion drugstore.com Buy Gloves In A Bottle Shielding Lotion with free shipping on orders over $35, low prices & product reviews drugstore.com PediaSure Vanilla Shake - 24 pk. - 8 fl. oz. - Sam's Club When kids don't get all the nutrition they need, Pediasure can help. Pediasure is a source of complete, balanced nutrition. That helps support growth and development. Buy facial cleansers, face cream and more for serious skin care ... Get serious skin care for your face at LovelySkin.com. Shop our large selection of facial cleansers, face creams and anti aging treatments. Youll find serious skin ... MINOXIDIL 5% FOR MEN 12 x 60ml Bottles (12 Month Supply) - GENERIC ... "Many thanks, great customer service, will continue referring you to all around me!" Read more Gloves In A Bottle - Compare Prices, Reviews and Buy at Nextag Gloves In A Bottle - 149 results like Gloves in a Bottle (8 oz.), Gloves In A Bottle Shielding Lotion 8 fl oz (240 ml), Gloves In A Bottle Dry Skin Shielding Lotion ... Gloves in A Bottle 240ml: Amazon.co.uk: Health & Beauty Best-selling moisturiser Gloves in a Bottle bonds with the top layer of skin and acts as a barrier, protecting hands from the drying effects of earth, chemicals or ... Amazon.com: Gloves In A Bottle Shielding Lotion 8 fl oz (240 ml ... Recommended by dermatologists, Gloves in a Bottle bonds with the outer layer of skin creating a protective layer that helps retain your skin's natural moisture ... gloves in a bottle eBay - Electronics, Cars, Fashion ... Find great deals on eBay for gloves in a bottle and gloves in a bottle 8 oz. Shop with confidence. st tropez mousse eBay - Electronics, Cars, Fashion, Collectibles ... Find great deals on eBay for st tropez mousse and st tropez mousse 8 oz. Shop with confidence. Amazon.com: Customer Reviews: Gloves In A Bottle Shielding Lotion ... 5 stars. "Amazing stuff" A little bit of background: I'm in my 60s, and live in a place where it's quite dry most of the time, and I've had a lot of trouble (for ...

0 comments
Labels:

Prices set to soar as dollar falls to 33 month low

Inflation in the pipeline as the dollar falls, reports SMH here:

The days of cheap overseas travel and attractive online prices are over, leading economists say. With the Australian dollar falling to a 33-month low on Thursday, travel and online retail prices are expected to soar immediately.

Petrol, whitegoods and electronic equipment prices are expected to rise by up to 10 per cent.
Mr Harvey said if the dollar dropped below 80 cents compared with the US dollar, consumers should expect a 25 per cent increase 
"Anything in a foreign price will go up straight away," AMP Capital's chief economist Shane Oliver said. "It's the same with online suppliers. That price, when translated, will be higher than it was six week ago."

Also, expect travel costs to increase.

0 comments
Labels:

How are futures markets seeing the interest rate decision?


Fairly conclusive then, with the chances of rate cut to 2.50% being 100% priced in.

Does that mean that there is 0% of chance of interest rates staying on hold? 

Not quite. 

August 2013 cash rate futures contracts are trading at 97.455, so what it essentially means is that a 50bps  (0.50%) cut to 2.25% is considered to be as likely as rates staying on hold at 2.75%.

On balance, therefore, a 25bps (0.25%) cut to a record low of 2.50% cut is the red hot favourite outcome today.

0 comments
Labels:

UK housing market +3.7% and ready for lift-off

Flicking through The Times this morning, and there are no fewer than six separate articles discussing Britain's housing market recovery.

The Halifax House Price index shows that prices nationwide are up over the past year (+3.7%).

While prices in some parts of south-eastern cities such as London and Cambridge never really stumbled, many other parts of Britain have endured a 5 year slump.

The UK's FTSE share market also jumped by 3% yesterday after the Bank of England's new Governor Mark Carney "went to extraordinary lengths to convince markets that monetary policy will remain loose."

The Bank has left UK interest rates at a rock bottom 0.5%, but markets had begun to price in rate rises in 2015.

0 comments
Labels:

Property Update: are low interest rates working?

I write for Property Update here on whether monetary policy is being effective.

Since I wrote this we've had weaker retail trade figures and a 4 year low in business confidence reported by the NAB survey - there's another interest rate cut in the pipeline.

In brighter news, US stocks are up for a fourth day in a row on earnings optimism, the Dow passing 15,300.



0 comments
Labels:

Rio hits record iron ore production

Rio Tinto (RIO) released its second quarter operations review showing sizeable y/y increases in production and shipments of iron ore, as well as material increases in copper, aluminium, thermal coal and titanium dioxide production.

If you've been up to the Pilbara in recent times, you'll already know what a spectacular sight the operations up there represent. From the ASX release:


"-Record first half iron ore production, shipments and rail volumes despite a conveyor belt 
breakage resulting in one of five ship loaders being side-lined for almost three weeks and 
unseasonal wet weather which led to flooding in the Pilbara. 

-Expansion of Pilbara capacity to 290 million tonnes per year remains on budget and on time to 
deliver first tonnes by the end of the third quarter of this year. Delivery of first tonnes will be 
followed by a steady commissioning and ramp-up period. Completion of the Rail Capacity 
Expansion infrastructure project was the most recent milestone reached in the quarter."

Some have pointed out that this is not all beneficial to Australia as our major resources companies are 100% not Australian-owned.

This is true: Rio has a very complex group structure being a dual-listed group with a maze of subsidiaries, and ownership is spread widely around the world - as indeed are its ~70,000 global employees.

A glance at Rio's segmental reporting disclosures in its most recent annual report shows that a large chunk of the group's gross revenue is from iron ore production, with a sizeable percentage being shipped to China.

The Australian-based employees will benefit from the group's massive wealth (the group has a global market capitalisation of well over $100 billion) and of course Australia will benefit from mineral royalties, which is good news for the state of WA.

Such major projects also create employment and revenues for mining services companies, so the increasing levels of production can have a knock-on effect.

And this, naturally, is what Australia wants to happen through the second phase of its mining boom.

Meanwhile, Rio will hope that the iron ore price stays as high as it is today at above US $125/tonne.

0 comments
Labels:

Dow futures rise as economy adds 195,000 workers

US payrolls up for a second straight month +195,000 workers beating market expectations of +165,000.

The US unemployment rate is 7.6%, so there is still plenty to do, but this is a stark improvement on the 9%+ levels of two years ago.

"Not a booming report, but a satisfactory report" as the US recovery continues...

0 comments
Labels:

Radio Flyer 4-in-1 Trike Red


Features
  • Removable wrap around tray for safety
  • 3 point harness to keep infants safe
  • Adjustable grow-with-me seat
  • Pedals become footrests when pushed
  • For 9 Months - 5 Years

List Price: $109.99
Special Offer: check this out!

Related Products

Product Description
About Radio Flyer Like the Original Red Wagon that lent the company its name, Radio Flyer has become an American classic. From humble beginnings, Radio Flyer has been rediscovered with each new generation - creating a legacy of toys that continue to spark the imagination. For over 90 years, millions of children have played with Radio Flyer wagons, launching countless voyages of imagination. Their beauty, simplicity, and standards of safety encourage adventure, discovery, and the wonders of childhood. As the new millennium gains momentum, Radio Flyer is still in the driver's seat - creating tomorrow's innovative products with the same classic quality and sheer sense of play that have been their trademarks from the beginning. Radio Flyer wagons are truly icons of Americana. The ultimate grow-with-me trike. 4-in-1 tricycle for children 9 months to 5 years. Converts from a stroller, steering trike, learning-to-ride trike and finally a classic tricycle. Removable wrap around tray with cup holder for child's protection. Removable 3-point safety harness. Adult steer and stroll bar adjusts for comfort. Pedals convert into footrests for child's comfort when being pushed. Comfortable headrest provides neck support (removable). Seat adjusts to grow with your child. Unique roller-style canopy provides protection from UV rays. Covered bin for parent or child storage. Quiet ride tires won't wake your child. Sturdy steel frame construction. Weight capacity 49 lbs.. Suitable for children 9 months to 5 years.


Radio Flyer Portable Folding Trike Red - Walmart.com Get the Radio Flyer Folding Trike Red for less from Walmart.com. Save money to live better. Radio Flyer Kid's "My First Big Flyer" Trike - Red : Target Find product information, ratings and reviews for a Radio Flyer Kid's "My First Big Flyer" Trike - Red. Amazon.com: Radio Flyer Tailspin Trike, Red: Toys & Games The only ride with a shift to spin! Create your own tricks with the spin out bar. Ride fast & straight and then pull the bar for an extreme action spin out. The steel ... Amazon.com: Radio Flyer 4-in-1 Trike Red: Toys & Games The 4-in-1 Trike is the ultimate Grow-with-Me Trike. It offers 4 ways to ride, to accommodate ages 9 months to 5 years: it easily converts from a stroller to a ... 4-in-1 Trike. The Ultimate Grow-With-Me Trike from Radio Flyer ... From 9 months to 5 years old, this 4-in-1 tricycle converts from a stroller to a steering trike, learning to ride trike and finally a classic trike and ... Radio Flyer Wagons, Tricycles, Scooters, Horses, Bikes & Ride-Ons ... Red Wagons carries a huge selection of official Radio Flyer wagons, Radio Flyer tricycles and trikes, Radio Flyer scooters, Radio Flyer horses and ponies, Radio Flyer ... Radio Flyer Kid's 4 in 1 Trike - Red : Target Find product information, ratings and reviews for a Radio Flyer Kid's 4 in 1 Trike - Red. Radio Flyer Trikes Radio Flyer is the official maker of the little red wagon, tricycles and other safe, quality toys that spark imagination and inspire active play. Radio Flyer Tailspin Trike, Red - YouTube Children will love learning to speed up, shift, and spin the Tricycle Radio Flyer Tailspin Featuring steel retention. Racing bold red, that Allah tea ... Radio Flyer Makers of the Little Red Wagon and Tricycle Makers of the "little red wagon" for children and youth. Find wagons, bikes, trikes and accessories. Offers downloads, catalog, and spare parts.

0 comments
Labels:

Gold miners slammed

There has been a reasonable bounce in the gold price in recent weeks, but much of the pain has already been felt by the gold miners.

Share prices had been pumped up across the sector as forward earnings estimates were modelled based upon a continuing high gold spot price, but as institutional investors pulled funds out of the sector the gold price collapsed.

And while ever-bullish brokers had rated a swathe of Australian miners as 'buy' recommendations based upon a copper price of around US$5.00/lb, nervous global sentiment has failed to see this happy position materialise with the copper spot languishing at a decidedly pessimistic ~US$3.10/lb.

US gold miner Newmont has been forced to take a large write-down totalling US $1.5 billion as well as laying off staff.

Gold and copper miner Newcrest Mining (ASX: NCM) has already been hit with impairment write-offs totalling a whopping A$6 billion and has a correspondingly ugly share price chart, the company having lost almost three-quarters of its market capitalisation in the past 2 years.

Similar pain was felt by Goldcorp, who booked a $2 billion write-down after recording losses highlighting potential impairments.

This highlights the potential volatility of companies which are exposed heavily to one metric such as a commodity price or an exchange rate.

While larger mining companies hedge forward their revenue streams, lower commodity prices will ultimately be reflected in the bottom line and lower earnings.

As mining companies deplete their resources over time, they tend to retain capital for thepruposes of re-investment, rather than distributing strong dividends back to shareholders.

This makes it especially important to be wary of buying resources stocks when they are trading at high price-earnings multiples based upon unpredictable commodity price forecasts.


Source; ASX

0 comments
Labels:

Koolatron 28-Quart Soft-Sided Electric Travel Cooler, Black


Features
  • Soft-sided electric travel cooler with 12 volt, cigarette-lighter car adapter
  • Adjustable shoulder strap; external zippered pocket for storage, mesh interior pocket; 2 exterior beverage holders, cell phone pocket
  • Cools to 16.5C (30F) below ambient temperature;
  • Holds 26 quarts or up to 34 12-ounce cans
  • Measures 9 by 17.5 by 15 inches; weighs 7 pounds

List Price: $129.97
Special Offer: check this out!

Related Products

Product Description
This Koolatron D25 Soft Bag Cooler can be taken anywhere! Such as in a car, picnic sites, hotels, office, etc. For even more convenience the D25 plugs into all 12V cigarette lighters. Koolatron D25 Soft Bag Cooler comes with an easy-to-carry adjustable shoulder strap, and holds up 32 cans. An optional 110V adapter is available for home use. The Koolatron D25 Soft Bag Cooler also has a convenient cord storage compartment when not in use


Power Inverters, 12 Volt Cab Accessories and Trucker Log Books We offer power inverters, 12 volt accessories, and 12 volt appliances for your car, truck, and RV. We also have a large selection trucker log books. electric travel cooler eBay - Electronics, Cars, Fashion ... Top Rated Plus. Sellers with highest buyer ratings; Returns, money back; Ships in a business day with tracking koolatron cooler eBay - Electronics, Cars, Fashion, Collectibles ... Find great deals on eBay for koolatron cooler and vending machine. Shop with confidence. Car Cooler Car Coolers & Travel Cooler The Rubbermaid car cooler/warmer has a sleek design. Do not travel without the Rubbermaid car coolers/warmer, you will regret it! Amazon.com: Customer Reviews: Koolatron 14-Quart Soft-Sided ... 4 stars. "Great Cooler!" I use this in my car for drinks or to keep small items of food cold on the way home from long trips to Costco, etc. It's durable, has many ... Koolatron 28-Quart Soft-Sided Electric Travel Cooler, Black ... No more ice to lug around in the cooler, this soft-sided electric cooler plugs into the cars 12 volt cigarette lighter or into any standard outlet keep things cool ... Koolatron Coolers - Compare Prices, Reviews and Buy at Nextag Koolatron Coolers - 89 results like Koolatron Quart 12V Cooler, Koolatron 40B Super-Cool AC-DC Thermoelectric Cooler-Refrigerator with Heat Pipe Technology, Koolatron ... 12 Volt Coolers Ice Chests Peltier Coolers Koolatron 12 ... Portable coolers, both thermoelectric cooler and ice chests, use 12V or ice to keep food and beverages cold. Use as travel coolers, camping coolers, portable ...

0 comments
Labels:

SQM's Louis Christopher on the Aussie housing market


Interesting video on Switzer TV here featuring Louis Christopher of SQM, who tends to talk a lot of sense.

He notes that the Sydney market is very strong with stock levels plummeting (by more than 23% y/y), and this is being reflecting in housing data, with the Sydney market easily breaking new highs and rising. 

Price growth in Sydney has shown no real signs of slowing to date.

Perth has been on a great run thanks to the mining boom, but the housing market could begin to slow as the mining construction boom passes its peak, notes Christopher.

Christopher also believes that the Adelaide is likely to remain soft due to plenty of supply. 

Plenty have been tipping Adelaide as a hot market for many years now but price growth has been weak and dwelling values remain around 4-5% below their previous peaks. 

Quality investments in Melbourne would have represented an infinitely better selection since 2008 with prices booming dramatically. And, for that matter so would Sydney.

Unsurprisingly, the Melbourne market has calmed down since its meteoric rise, though inner- and middle-ring  suburbs seem to have remained robust enough.

Dwelling Prices graph

0 comments
Labels:

Property Observer: most read articles

My piece on the Aussie housing bubble is the most read article on Property Observer.

Take a read here.

0 comments
Labels:

BICO AUSTRALIA JEWELRY (E303) KORUTAO - INNER EVOLUTION & AEON - Comes with a Generic 18 inch (to 20in) Adjustable 4mm Black Rubber Necklace.


Features
  • BICO AUSTRALIA JEWELRY
  • E303 - KORUTAO
  • INNER EVOLUTION & AEON
  • ALL PENDANTS AND MOST METAL ELEMENTS ARE MADE OF FINE GRADE PEWTER

List Price:
Special Offer: check this out!

Related Products

Product Description
Caring for your Bico Product - Chemicals used in traditional jewelry cleaning methods must not be used when cleaning your BICO product. BICO recommends gently rinsing your product in warm water and drying it with a soft cloth. In general, sensible care will ensure a long life for your BICO product. Direct exposure to colognes and aftershave, pool products, and excess sweat can affect the coating and plating of your product. Furthermore, pendants and chains should be rinsed and dried if worn in the ocean - Comes with a Generic 18 inch (to 20in) Adjustable 4mm Black Rubber Necklace.


0 comments
Labels:

Sydney dwelling prices +2.7% in June

The month draws to a close and RP Data's index shows that Sydney dwelling prices are up more than 2.7% in the month of June alone, increasing substantially from $649,000 to more than $667,000.

While I'm not a fan on monthly figures due to their inherent volatility, this should at least put an end to the flawed discussions of prices falling (or more properties being sold into a falling market) - they aren't.

While futures markets have priced in a one-in-five chance of an interest rate cut on Tuesday, particularly in light of the below figures, interest rates must surely be kept on hold in July. 

The futures yield curve still expects interest rates to hit 2.50% by October 2013, but any signals of rapid dwelling price appreciation certainly won't encourage further cuts.

The next round of inflation data for the June quarter will be released on 24 July which will play a key role in determining future interest rate movements.


Over the past 12 months all of the main capital cities except for Adelaide have demonstrated capital growth, with Sydney (+5.6%) and Perth (+6.0%) leading the way.

The 5 city capital aggregate has consequently increased (+3.9%) over the period.


Source: RP Data

0 comments
Labels:

Aussie dollar to fall to 75 cents?

From SMH:

"More bears have joined the downgrading party against the dollar, with a major investment bank expecting the currency to fall to US75¢ in 12 months as enthusiasm for what was once dubbed the ''Goldilocks economy'' grows cold.

While the dollar has fallen more than 13 per cent against its US counterpart since mid-April, Credit Suisse analysts said on Thursday they expected it to slip further to US87¢, a level it has not seen since July 2010.

The analysts forecast the dollar to drop to US75¢ in 12 months. 

''Our feeling remains that either the dollar will continue to fall naturally or the RBA will need to give it another push with a further interest rate cut,'' Credit Suisse said."

Markets are pricing in a 47% chance of an interest rate cut on August 6 - those odds look too low to me at this distance.

---

In forecasting news of a different kind, the long range weather forecast for England for the remainder of the month is for hot weather, which bodes well with Britain's Andy Murray in to the final four at Wimbledon and the Ashes cricket starting next week.

It's a sticky 24 degrees here today - and a lot warmer than that sounds!

0 comments
Labels:

Bloomie survey sees unemployment 5.6%; housing finance jump

The latest Bloomberg survey expects unemployment of 5.6% next week, up a tick from 5.5% in May with only a tiny increase in jobs forecast.

Over the past year, jobs growth has been all about New South Wales, which has been reflected in a surging housing market in that state.

Employed persons
Graph: Employed Persons

Unemployment rate
Graph: Unemployment Rate

Source: ABS

The survey also expects housing finance to jump by 2%...so much positivity around the housing markets at the moment.

Meanwhile, what's happening in auctions?

Mebourne recorded a 71% clearance rate today (last week revised to 70%) from 317 reported auctions, a level which should be regarded as 'solid enough'.

In Sydney, auction rates continue to perform very strongly with a scorching 78% clearance rate last weekend.

The hot sector of the market remains the inner west with some 67 auctions today.

Hopes of a correction in Sydney have been dashed.

Dwelling prices in the city are now up by more than 8% since their lowest point of just over one year ago.

As there tends to be a time lag in the data, strong auction clearance rates such as are still being recorded suggest that Sydney's price gains still have some way to run yet. 

After that, investor attention should probably turn to Brisbane.

More experienced heads such as Michael Matusik suggest that housing recoveries tend to "head north" in Australia. 

And Brisbane is overdue for a better run, particularly for those who buy the in-demand property types and in the right locations.

---

Great stuff at Wimbledon yesterday, teeing up a thriller of a final between Britain's Andy Murray and Novak Djokovic on Sunday. Lions vs. Wallabies kicking off in less than one hour's time...

0 comments
Labels:

Made in Australia



List Price: $20.98
Special Offer: check this out!

Related Products

Product Description
This concert was captured live at the Evelyn Hotel in Melbourne, Australia on June 20th 2003. Virgil Donati - Drums, Ric Fierabracci - Bass, Frank Gambale - Guitar.


World Vision Australia - Official site for child sponsorship and ... World Vision is a Christian relief, development and advocacy organisation dedicated to working with children, families and communities to overcome poverty and injustice. Sony Home & Consumer Electronics : Sony Australia Sony Australia website for electronic products: LCD & LED TVs, laptops, tablets, smart phones, DSLR & compact digital cameras, headphones and home entertainment systems. madeit the handmade market open all day every day :: buy & sell ... Shimmer & Sparkle Mad Max (1979) - IMDb A vision of an apocalyptic future set in the wastelands of Australia. Total social decay is just around the corner in this spectacular cheap budget gang orientated ... APS Jobs - gateway to the Australian Public Service Government jobs. Get inspired. Get rewarded. The Australian Public Service is the place to realise your potential. More than 160,000 employees currently enjoy a ... Oxfam Australia A development organisation that promotes social justice and fights poverty by working with communities around the world and through campaigning and advocacy. IP Australia Administers Australia's intellectual property (IP) rights system, specifically patents, trade marks, designs and plant breeder's rights. Attempts to ensure that ... Home australia.gov.au Entry point for all Australian Commonwealth Government authorised information and services. Australian Bureau of Statistics Welcome to the Australian Bureau of Statistics web site. The Australian Bureau of Statistics is Australia's official statistical organisation. We assist and encourage ... Australian Taxation Office Tax information for individuals, Companies and organisations, from the Tax Department of the Australian Federal Government.

0 comments
Labels:

Sterling Silver and Stainless Steel Round St. Christopher Medal, 20"


Features
  • Sterling silver pendant with an included stainless steel chain.
  • This item is handcrafted in the USA
  • Domestic

List Price: $50.00
Special Offer: check this out!

Related Products

Amazon.com
This sterling silver rounded pendant contains the classic Saint Christopher medal design, a symbol of protection. The pendant rests from a sturdy and durable stainless steel chain.


stainless steel saint medals eBay - Electronics, Cars, Fashion ... Find great deals on eBay for stainless steel saint medals and st benedict cross. Shop with confidence. Engraved St. Jude Medal Sterling Silver Pendant: Pendants ... Shop Low Prices on: Engraved St. Jude Medal Sterling Silver Pendant : Pendants & Necklaces Sterling silver st michael Necklaces & Pendants Bizrate ($16.49 - $153.89) : 2000 matches. Find great deals on the latest styles of Sterling silver st michael. Compare prices & save money on Necklaces & Pendants. Patron Saint Christopher Medals, Silver & Gold St Christopher ... Buy your Patron Saint Christopher Medals at Discount Catholic Products today! We have a large selection of items to help you find the perfect patron saint christopher ... Amazon.com: Sterling Silver and Stainless Steel Round St ... This sterling silver rounded pendant contains the classic Saint Christopher medal design, a symbol of protection. The pendant rests from a sturdy and durable ... Patron Saint Medals Jewelry and Watches - Shopping.com Catholic Jewelry. Custom Patron Saint Medal Charm Bracelet. St Christopher. St Michael. Choose YOUR Saint Bracelet. Stainless Steel. Choose your cause and together we ... Patron Saint Medals, St. Christopher Medals & St. Michael Medals ... Patron Saint Medals: All Sterling Silver Patron Saint Medals are delivered in a deluxe velour gift box with an attached heavy stainless steel rhodium plated chain. st christopher medal eBay - Electronics, Cars, Fashion ... Find great deals on eBay for st christopher medal and sterling silver st christopher medal. Shop with confidence. Catholic Crucifix Necklaces, Stainless Steel, Gold Plated & Pewter ... Catholic Lutheran sterling jewelry cross necklaces & Stainless Steel crucifi, necklaces, medals, risen christ, guardian angels jewelry, fish necklaces at big discounts. Amazon.com: Sterling Silver St. Christopher Medal Charm- 15mm ... Sterling Silver St. Christopher Medal Charm - 5/8" in diameter- chain not included - in Sterling Silver - Made in the USA - Product Attributes: - Engraveable (back ...

0 comments
Labels:

Newcrest...oops

Gold-mining company Newcrest sank as low as $9.96 in the trade, having been pole-axed from above $40 in 2011.

A complete mess - business reviews, project withdrawals...bottom-picking when the share price halved turned out to be a very poor strategy.

Wonder what Jordan Wirsz is thinking today after he advised buying gold at US$1,729/oz as well as tipping a 60% crash in Australian property prices (they went up)?

Very ordinary.


Source: ASX

0 comments
Labels:

Spillard (again) ends in Kevenge

So, Labor has another leadership spill (again) and Australia will get another Prime Minister (again).

Well, kind of, we'll be reverting back to Kevin Rudd (again), for now at least.

It's all a bit deja vu.

This is only a politics blog to the extent that politics impacts the economy, and I think that, regardless of whether the Coalition or Labor get voted back in in the coming few months, it will be a challenging period ahead.

I doubt there will be many immediate game-changing shifts in economic policy. 

Both parties have pledged to steer clear of reform on the negative gearing tax rules, for example. Will we see any major shifts on the Carbon Tax or the MRRT? 

Whether or not Rudd returning the favour on Julia Gillard by stabbing her in the back will be enough to save Labor in the forthcoming election is highly doubtful.

The bookies certainly don't seem to think so with Labor priced at odds of $5.00 as compared to Abbott's Coalition quoted at $1.15.

It's all very well changing leaders on the basis that politics is "about personality", but is Australia really going to re-elect a party which can/t seem to get its own house in order?

It was only a matter of three months ago that after Rudd's most recent failure to challenge for the leadership that he said he "was a man of his word" and he would "never" partake in a leadership spill.

Sure, we have short memories but not that short.

Rudd's election campaign will doubtless be run along the lines of portraying Labor as the "proven" or known quantity which has steered Australia away from recession through a challenging period. Abbott will be portrayed as the "risky unknown quantity" (not without some reason, it must be said).

In Rudd's own words, talking of Labor's tiresome leadership squabbles and internal wranglings: "All this now has to stop".

Well, yep, I guess it will - in two or three months when the whole debacle will finally be ended by an election and a leadership contest which we're actually allowed to vote in.

---

Too easy a win for Queensland in Origin II at Suncorp stadium - sends the Aussie dollar back up to 92.9 cents...

;-)

0 comments
Labels:

US unemployment falls from 7.6% to 7.4%

The US economy added 162,000 workers in July as unemployment continue its downward trend of the last couple of years from 7.6% to 7.4%.

It had been hoped that the payrolls data would show more jobs added, but the drop in the unemployment rate was nevertheless welcome.

Some people are trying to down play the progress made by the US, terming it a 'bubblecovery'.

No. It's a steady recovery.

Source: Bureau of Labor Statistics

0 comments
Labels:

Propolis & Honey Soap 100g by Australian By Nature - Made in AUSTRALIA


Features
  • Australian made.
  • A long lasting soap combining the natural antiseptic and antibacterial properties of propolis and honey.
  • When use regularly Australian By Nature's propolis and honey soap protects, moisturises and leaves you feeling clean and softall over.

List Price:
Special Offer: check this out!

Product Description
All Australian By Nature products undergo extensive quality testing and minimum processing, ensuring you consume the finest range of products for 'Complete health and wellbeing'. By choosing Australian By Nature, you are well on the journey to optimum health, nutrition and wellbeing.


Bar Soap - iHerb.com Nubian Heritage, Raw Shea Butter Soap, With Soy Milk, Frankincense & Myrrh, 5 oz (141 g) Online Health Store Australia, Vitamins, Bodybuilding Supplements ... Buy discount vitamins, bodybuilding supplements, natural cosmetics etc. Fast, free delivery Australia wide and overseas from our online health store. Organic Empire home; our values. about us; our values; testimonials; workplace/ fundraising ; media ; home delivery. order online; ordering instructions ; satisfaction guaranteed New Zealand made health dietary supplements, cosmetics, toiletries ... Untouched Native New Zealand offers a selection of 100% Natural skim care, toiletries, honey, wine, dietary supplements BODY - Welcome to Organics Australia Online - Your organics & eco ... Body creams & moisturisers made in Australia from organic or natural/biodynamic ingredients. Green Businesses - Organic Consumers Association Blissful Heights - Blissful Organics - All Organic, Fair Trade Skin and Body Care Products. (Birmingham, AL) VitaminLife.com: Y.S. Organic Bee Farms Raw Manuka Honey - 12 oz ... Raw Manuka Honey (Active 12) 12 oz Liquid. Suggested Use As a dietary supplement Take 1/2 tablespoon twice daily or more as needed. - Or as directed by your ... Australian Vitamins :: Placenta Cream :: Rich & Nourishing ... Australian by Nature Placenta Cream () is a rich and nourishing cream made from all natural ingredients. It contains a blend of placenta cell extract ... Handmade Soap, Handmade Soap Products, Handmade Soap Suppliers and ... Handmade Soap, You Can Buy Various High Quality Handmade Soap Products from Global Handmade Soap Suppliers and Handmade Soap Manufacturers at Alibaba.com Acne Soap, Acne Soap Products, Acne Soap Suppliers and ... Acne Soap, You Can Buy Various High Quality Acne Soap Products from Global Acne Soap Suppliers and Acne Soap Manufacturers at Alibaba.com

0 comments
Labels:

Could one of Australia's main lenders fail? (and what would happen if they did?)

The Big Four

Australia's four major banks were named this week as being the most profitable in the whole world...for the third year in a row! Big bank profits appear likely to come it at well in excess of a combined $25 billion, and probably some way higher than that.

Why? It's partly because the Australian banks have wider interest margins than most, and lower equivalent costs. 

It's also because of a lack of competition worthy of the name. After a number of smaller lenders went to the wall during the global financial crisis, the 'big four' banks (Commonwealth, Westpac, ANZ, National Australia Bank) control a massive 83% of the mortgage market in Australia. 

Last year, as cuts in the cash rate were relentlessly delivered by the Reserve Bank of Australia (RBA), the major lenders consistently failed to pass on the full cuts to borrowers citing 'higher funding costs". It's laughable really, given the profits which will now again be reported, but the truth is that the banks get away with it because of the "feeble competition". It's an oligopoly.

Sure, there's talk of introducing more competition, and perhaps Macquarie will step in to become a fifth major player, but it all feels rather half-hearted given the monstrous profits which have once again been generated.

Some are more equal than others

Under Corporations Law, you might be forgiving for thinking that all companies are created equal. In theory, maybe businesses are in many ways equal, but in reality some are far more equal than others. If a retail company becomes insolvent and goes under it would be sad news for the owners and the employees, but the sun would likely come up tomorrow and the world would continue as before. 

There are some industries which the government might elect to support, such as car manufacturing. And then there are some businesses without who out entire financial system would implode: namely, the banks.

Without the banks to transfer money between borrowers and lenders, for want of a better word, we'd be well and truly stuffed. How would we even survive on a day-to-day basis with no cash cards, credit cards,  internet banking, ATMs? Undeveloped countries manage to run cash economies reasonably enough, but for the Australia of today, we'd be faced with almost unthinkable turmoil.

What do the banks DO?

At the simplest level, banks make their colossal profits through charging a higher rate of interest on their loans than they pay out on the money we bank as deposits.

If you've ever tried to buy a property with a deposit of less than 20% of the purchase price (an 'LVR' of more than 80%) you'll be aware that the bank can charge you a higher rate of interest as well as hit you up for Lenders Mortgage Insurance (LMI) as compensation for the higher perceived risk.

Investment banks also generate profits from issuing financial advice or from engaging in transactional activities such as capital raisings or takeovers.

Of course, under the modern system of banking, banks are not required to hold enough money to pay all of its depositors. It's known as fractional reserve banking. If we simultaneously all demanded our cash, the banks would not have the funds available to pay us, so much rests on our collective confidence in the institutions. Sometimes governments therefore choose to guarantee deposits up to a certain level in order to shore up confidence.

In fact, where I am today - in England - we saw a modern version of an old-fashioned 'run on the bank' in 2007 after rumours spread of the Northern Rock bank being in financial strife. The result was that the Bank of England had to step in as the 'lender of last resort' to provide emergency funding. The UK Treasury ultimately intervened and nationalised the bank.

Last resort

And that is the key point. 

There is simply no way Australia could allow one of its major lenders to fail because the fallout would be catastrophic beyond belief. For this reason the banks receive what is known as an implicit guarantee from the government.

The paradox of an implicit guarantee is that it can cause the largest banks to become larger still. They are seen as more creditworthy which can attract more business, and the very act of becoming larger reassures banks that they will become 'too big to fail'. An implicit guarantee could therefore the theory be seen to encourage reckless management.

However, banks will quite rightly be subject to increased regulation in the form of BASEL III and stress testing. 

What would happen if a major bank failed?

Overall, it is unlikely but certainly possible that with massive exposure to residential property one of our major banks could fall into difficulties. Take a look at the typical capital structure of a bank's balance sheet - you will notice that the net asset positions are surprisingly low given the vast loan balances on the books. 

However, a bank collapse would have the most diabolical and far-reaching consequences for the Australian economy. 

What would happen? Well, consumer confidence would instantly evaporate, the money supply would be annihilated as the insolvent or failed bank ceased lending funds to instead shore up their reserves...and we would likely end up in a deflationary economy with disastrous outcomes for the entire country.

So, it is for all these reasons that hell would probably freeze over before one of our major lenders would be allowed to fail. In business and economics, some are indeed created more equal than others.

---

A bit of talk of 'Ruddmentum' in the press - on a two party preferred basis Labor might have gained as much as five points in the polls! I'm not sure how thorough the polls were, though. Business leaders, who hate uncertainty, will push for an early election to be called.

0 comments
Labels:

Flat Stanley (Turtleback School & Library Binding Edition) (Flat Stanley (Prebound))



List Price: $14.75
Special Offer: check this out!

Amazon.com Review
Poor Stanley. He's a perfectly normal boy until one morning he wakes up flat. After his parents peel the incriminating bulletin board off of him, Stanley must adjust to life as a pancake. He is a boy who takes this kind of thing in stride, though, and soon he's enjoying the advantages of squashedness. Sliding under closed doors is fun, and it's gratifying to be of use to his mother when she drops her ring through a narrow metal grating. Expensive plane fare to California? No problem. Svelte Stanley folds comfortably into a brown paper envelope. There's even room left over in there for an egg-salad sandwich. But Stanley's true moment of glory comes when a gang of thieves begins stealing paintings from the Famous Museum of Art. The case seems hopeless--until our two-dimensional hero saves the day. Here is one boy who doesn't let his profile-challenged body stop him from living life fully--that is, until his brother finds a way to help him become well rounded again. Jeff Brown's matter-of-fact tone and Tomi Ungerer's witty and engaging drawings tickle the funny bone, making this 1964 classic a perennial favorite. (Ages 4 to 8) --Emilie Coulter


Invisible Stanley (Flat Stanley): Jeff Brown, Macky Pamintuan ... Grade 2-3-Stanley Lambchop continues his antics begun in Flat Stanley (1964) and Stanley and the Magic Lamp (1996, both HarperCollins). This time, he disappears ... Flat Stanley (Book 2002) - Barnes & Noble Meet Stanley Lambchop. He's an ordinary boy with an extraordinary problem. He's four feet tall, about a foot wide . . . oh, and half an inch thick. Stanley, Flat Again! (Flat Stanley Series) (Book 2010) - Barnes ... Is Stanley flat again!? Stanley Lambchop has had his share of unusual adventures. But being flat was one thing he thought he was through with forever. louis sachar - holes - Bookseller-supplied photos - AbeBooks Holes by Sachar, Louis and a great selection of similar Used, New and Collectible Books available now at AbeBooks.com. Flat Stanley and the Haunted House (I Can Read!, Level 2): Jeff ... Jeff Brown created the beloved character of Flat Stanley as a bedtime story for his sons. He has written other outrageous books about the Lambchop family, including ... Full text of " - Internet Archive: Digital Library of Free Books ... See other formats The Empty Envelope (Book 1998) - Goodreads The Empty Envelope has 1,107 ratings and 29 reviews. Brittany said: Dink keeps getting envelopes addressed to D. Duncan, but the letters themselves say... Download Video Arestra (Pthc) Valya 13 Text below is selected. Please press Ctrl+C to copy to your clipboard. (+C on Mac) Twitpic - Share photos and videos on Twitter Share your photos and videos as they happen with Twitpic A Clockwork Orange - Wikipedia, the free encyclopedia A Clockwork Orange is a dystopian novella by Anthony Burgess published in 1962. Set in a not-so-distant future society that has a culture of extreme youth violence ...

0 comments
Labels:

Sydney auction clearance rate ~70%...ish

Fewer auctions this weekend as it is the Queen's Birthday long weekend.

APM reported here that there were 253 auctions to be held this weekend with the highest listings on the north shore and in the inner west.

And APM later reported here that the clearance rate was 70%.

However, the reported results only covered 171 properties. These inconsistencies cause scepticism around the robust nature of results.

I noticed in passing that one of the reported results wasn't a scheduled auction for this weekend - it was a property scheduled for auction next weekend which sold prior to auction.

Overall, the results looked a little patchy - solid but not spectacular, with perhaps only a moderate lift in prices on a year ago.

Maybe Sydney is in for a quieter winter selling season, although in truth this wasn't the best weekend from which to judge with far fewer properties scheduled for auction.

Similar story in Melbourne where the reported clearance rate from APM was weaker than the trend at 60%.

0 comments
Labels:

AUD hits 89.36 cents

And, there it is...

The resilient Aussie dollar finally cracks and drops below 90 cents hitting 89.36 cents down from 106.24 cents in just a few short months, before bouncing a little.

That's great news for the economy and the lowest level we have seen since September 2010, nearly three years ago.

Perhaps the market is anticipating more than one interest rate cut yet...

It's been a long, long time coming, but this is welcome and excellent news for Australia's exporting economy.

0 comments
Labels:

Fujifilm INSTAX MINI Twin Pack Instant Film


Features
  • Hi-Speed 800 ISO
  • Super-Fine grain
  • Vivid, sharp images
  • Fast developing
  • Image Size: 2.13" x 3.4"

List Price: $20.75
Special Offer: check this out!

Related Products

Product Description
INSTAX MINI Film - Hi-Speed 800 ISO, Super-Fine grain, Vivid, sharp images, Fast Developing, Image Size: 2.13" x 3.4".


FujiFilm Instax Instant Wide Film Twin(20 Pictures) For Instax 200 ... Home; Film Cameras & Supplies ; FujiFilm Instax; FujiFilm Instax Instant Wide Film Twin(20 Pictures) For Instax 200/210 Cams Amazon.com: Fujifilm Instax Wide Instant Film Twin Pack: Camera ... Fujifilm Instax Instant Color Film is professional grade and provides superior performance. Customer Reviews 4.3 out of 5 stars ( 114 ) 4.3 out of 5 stars 5 star 78 4 ... Amazon.com: Fujifilm INSTAX MINI Twin Pack Instant Film: Camera ... INSTAX MINI Film - Hi-Speed 800 ISO, Super-Fine grain, Vivid, sharp images, Fast Developing, Image Size: 2.13" x 3.4". Customer Reviews 4.6 out of 5 stars ( 181 ) 4.6 ... Fujifilm Instax Mini Twin Pack Film - Walmart.com Get great value on the Fujifilm Instax Mini Twin Pack Film that is available at Walmart.com. Fujifilm Instax Mini Twin Pack Film Walgreens Shop Walgreens.com for Cameras & Camcorders and other Electronics Products. fujifilm instax mini 7s film eBay - Electronics, Cars, Fashion ... Newly listed Fujifilm Instax Instant Mini Film 2 Pack(20 Photos) for Mini7 7s 8 25 50 55i Fujifilm Instax Mini 8 Appareil photo instantan Blanc: Amazon ... Film : Fujifilm Couleur instantane Instax Mini Taille de limage : 86 mm x 54 mm Objectif : 2 composants, 2 lments, f = 60 mm, 1 : 12,7 Viseur ... Fujifilm Instax Mini Instant Film, Pack of Two: Amazon.ca: Electronics This item: Fujifilm Instax Mini Instant Film, Pack of Two . Usually ships within 2 to 3 days. Ships from and sold by Canadian Shoppe. CDN$ 7.09 shipping. Fujifilm Instax Mini 7 Instant Film Camera White: Amazon.co.uk ... With a high-quality Fujinon lens in combination with the Instax Mini Film, superior images are just an instant away. Attractive and accurate images are printed ... Instax mini film Fujifilm Global instax mini film is for all instax mini cameras and comes in a handy cartridge. It offers stunning instant pictures that you can fit into a purse, wallet or ...

0 comments
Labels:

Is Australia suffering from Dutch Disease?

Dutch disease

In 1959, the Netherlands discovered a significant natural gas field, and the subsequent focus on exploiting the resource resulted in a decline in sectors such as manufacturing leading to a new term being coined in 1977: Dutch Disease. In a case of Dutch Disease, there is usually a booming sector such as, for example, oil or the mining of gold and copper, and a lagging sector, such as manufacture or perhaps agriculture.

Production (and labour) can shift towards the new resources industry and the extra revenue the resources boom brings shifts in spending patterns.

Dr. Lowe of the Reserve Bank of Australia has argued that Australia is "unlikely" to suffer from Dutch Disease, instead seeing the mining construction boom as part of a "structural adjustment" 

"The process of development in Asia is going to take many decades, and Australia has to supply the resource needs to Asia for a number of decades.

"If that is the case, the economy has to go through some structural adjustment, and my sense is that we're not losing the skills that will make us competitive in the medium term."


There would be plenty who disagree strongly with that view.

Higher dollar

One of the problems facing Australia has been that our relatively higher interest rates and perceived 'safe-haven' status, has led to us having a significantly stronger dollar in recent years, which has made the going very tough for some exporting industries. Lowe again:

"The effects of the high exchange rate are evident in the manufacturing, tourism and education sectors, as well as some parts of the agriculture sector and, more recently, in some business services sectors," he said.

"In some cases, this is prompting renewed investment to improve firms' international competitiveness.

"But in other cases, businesses are scaling back their operations in Australia and some are closing down."


The good news is that the dollar hit new 12 month lows today, falling to just 88.9 cents as interest rates have been lowered and the mining construction boom begins to unwind.

Reality

Australia's economy has benefited from the mining construction boom while other industries have suffered to some extent, and this is likely to be an ongoing theme.

In keeping with the theory of competitive advantage, the reality is that with China in the midst of an unprecedented construction boom, Australia is going to be looking to its resources exports as a key cornerstone of the economy in the years to come.

If you include both mining and 'mining-related' economy, that comprises around a fifth of Australia's GDP (services is by far and away the largest sector as you might expect in a developed country), so in reality there is a heavy reliance on our mining industry transitioning from construction to production.

For this reason, Australia will place a lot of emphasis on the health or otherwise of the index of commodity prices, which fell 1.5% in July after falling by a revised 3.9% in June, with falls in the prices of coal and gold to some extent offset by an increase in the iron ore price.

Graph: RBA Index of Commodity Prices

Sadly, the index is back to levels last seen in 2010.

However, the falling Australian dollar means that the index in Australian dollar terms increased in July and sits at a 12 month high, which is more heartening news.

Key themes

I write about all manner of subjects on this blog, but a lot of them fall under just three broad headings.

1 - Property trends

After the great leveraging up of Australian households between 1990 and 2005, a number of Australian property markets will experience severe headwinds going forward (especially in a large number of the regional markets), and some of them may experience severe declines when the next downturn hits. 

On the flip side, in the popular suburbs of Sydney close to the CBD and amenities (i.e. where people actually want to live) construction of appropriate dwellings will fail to keep pace with the massively booming demand and I have always argued strongly that the widely-touted price crash c.2008 was unrealistic in these market sectors. Prices in Sydney's 'broad middle market' have jumped way past previous highs and I expect them to continue increasing in coming months.

Similarly, while UK property has been through a very weak five years, I've suggested that if you were invested in London or key hubs of the south-east of England, prices would not be impacted unduly and a massive housing shortage in the pipeline will likely push price on to all-time highs there too. And, in fact, that has already happened.

In these days of higher household leverage, real estate can be a risky asset class if you adopt the approach of chasing yields and looking for new regional 'hotspots', and personally I stick to suburbs with key transport hubs and do not venture outside Sydney's inner 5-6km ring (or towns and cities within easy commuting distance of the city of London). Far less risk over the longer term.

2 - Stock market success

Stock markets will continue to be irrational beasts, in some cases being impacted by monetary stimulus being pumped in and then withdrawn. 

Contrary to popular belief, the strongest performing Australian stocks over the long haul are unlikely to be those in resources (or property trusts): history shows that resources companies operate in a capital-intensive industry and pay weaker dividends, particularly in market downturns. 

For most investors, a superior approach is likely to be to continue to contribute regularly in to a well-established low-cost diversified LIC which has a strong focus on industrial and financial stocks. The exporting industrials with US dollar-denominated exposure will in particular be firing at the moment. When the market is cheap and 'on sale', buy more. 

3 - No Australian recession

This third theme is the one which is generating a lot of debate at the moment. My position has always been that Australia has had a lot of ammunition in its relatively higher interest rates, and as the mining construction boom unwinds the RBA would be able to drop interest rates leading to a lower Australian dollar while simulataneously stimulating other sectors of the economy.

While a downturn in the economy was perhaps at some point inevitable and some risk of a recession always exists, I have felt that the risk was relatively low and Australian growth will continue at a slower pace before rebounding. 

This debate is still very much a live one...watch this space!

0 comments