australian gdp

here is the score.the last 4 quarters of gdp figures are +1.4, 0, 0.8, -1.2. this gives a total of 1 percent for the last running year. with the last quarters figures due out in a couple of weeks the +1.4 will drop off. this means that a gdp figure of +0.4 is needed just to say that in the last year we had zero growth. if the figure comes in a bit lower we will avoid a technical recession but the truth is we are in one. but according to glen stephens stiff shit- get over it; controlling inflation is all that matters. as the mining boom in australia is amazing to behold- the rest of the country has gone to shit. this quarter is even worse. so while rates remain at 4.75% while the rest of the world is near zero we can lose our jobs and our homes. the fact is that our inflation is being caused by overseas because they keep printing money at zero rates it is not from domestic forces because no-one is spending.

bernanke lays blame

today bb offered no solution to the state of the economy. though he did blame everyone else for the current mess
those that were looking for an immediate QE3 were dissapointed. but i have no doubt it will come. i also have no doubt there will be a QE4 and QE5 unless there is a complete change of direction. one way to prevent this would be to get rid of the fed. they caused this problem in the first place and lets face it- they cant fix it. i couldnt help notice that the dow went up at the end of the day so clearly QE3 is happening soon and also gold shot up $60 before closing despite the huge margin increases  which confirms it.

fatally flawed system

when markets can fluctuate hundreds of points upon the release of any data or rumour of data shows just how false share prices really are. but big dollars are made and lost in volatile markets due to derivatives. these wild swings in share prices are exactly what these big players want and the share price is intentionally manipulated thus. naked short selling(selling stock or commodities you dont own) to artificially alter prices needs to be outlawed. exchange stabilisation funds should cease to manipulate prices. the markets should be free to reflect true value. 

shit hitting the fan

the blame game has started on who lost americas AAA rating. the truth is why- a plan to reduce debt that did not tackle the issue. the downgrade would have happened anyway. so finally the markets have realised that any reduction in debt will come at the cost of growth and down they came. the aussie dollar has free falled as exporting is all we got. gillards dream of a balanced budget by 12/13 has been shot dead- but surely they didnt really believe it- after all they are experts. it is interesting how in times of trouble people flock to the US dollar-but this time it is more noticeable that gold does seem to be more of a foothold as choice