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NEWS PAPER OR MEDIA ARTICLES, ANYTHING INTERESTING
alonso
post Posted: Jul 12 2014, 10:03 AM
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In Reply To: triage's post @ Jul 11 2014, 02:31 PM

I haven't seen the full context of the comments triage, but I rather imagine he was referring not to national insolvency, but to a budgetary situation in which a government would not be able to carry on meeting the demands on it for funding health, education and welfare at the levels presently enjoyed.



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"The optimist proclaims that we live in the best of all possible worlds. The pessimist fears this is true"

"What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom." Adam Smith
 
Kev
post Posted: Jul 11 2014, 07:59 PM
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In Reply To: triage's post @ Jul 11 2014, 02:31 PM

I will disagree with your logic triage - ask the people of these countries what happens when you do not manage your finances and then try to print your way out of it.



Most severe hyperinflations in world history
Highest monthly inflation rates in history[91]CountryCurrency nameMonth with highest inflation rateHighest monthly inflation rateEquivalent daily inflation rateTime required for prices to doubleHungaryHungarian pengőJuly 19464.19 1016 %207.19%15 hoursZimbabweZimbabwe dollarNovember 20087.96 1010 %98.01%24.7 hoursYugoslaviaYugoslav dinarJanuary 19943.13 108 %64.63%1.4 daysRepublika SrpskaRepublika Srpska dinarJanuary 19942.97 108 %64.3%1.4 daysGermany (Weimar Republic)German PapiermarkOctober 192329,500%20.87%3.7 daysGreeceGreek drachmaOctober 194413,800%17.84%4.3 days

 
triage
post Posted: Jul 11 2014, 02:31 PM
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Well it's official: Barnaby Joyce is a moron.

QUOTE
"If we don't turn our nation around financially, we are going to go broke - whether its three years, five years or ten years," [Mr Joyce] said.


http://www.abc.net.au/news/2014-07-11/joyc...-budget/5590038

It's one thing to set out to spook the horses when you are in opposition but why would a senior government minister sprout such drivel, on several levels (Paul Keating did similar with his "banana republic" comment to brilliant effect but he never ever stooped so low as suggest that the nation would "go broke"). As long as Australia is a sovereign state and has its own currency and printing presses (or the electronic equivalent), it is an absolute impossibility for it to go broke. This has nothing to do with politics or even economics, just basic logic. The simple fact is that we as a nation can create as many AUD's as is needed to pay whatever bills we decide to pay.

The worst thing that could happen is that Australia would simply refuse to pay back money lent to it by foreigners, and given that we have never done that in our history the chances are remote that we would get into that predicament any time soon (whether that be 3, 5 or 10 years).

From memory Mr Joyce is a qualified accountant but if he cannot differentiate between the reality of households and businesses and that of sovereign states then he is an unqualified moron (imo).



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"The market can stay irrational longer than you can stay solvent." John Maynard Keynes

"The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought." Rudiger Dornbush

"It is the mark of an educated mind to be able to entertain a thought without accepting it." Aristotle
 
neilo3
post Posted: Jul 11 2014, 11:23 AM
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This company is maybe what Melua is after

http://finance.ninemsn.com.au/newsbusiness...-worth-billions

biggrin.gif

 
nipper
post Posted: Jul 3 2014, 09:28 PM
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A man of infinite gall feasted for free 35 times in a year at Lufthansa's Munich airport lounge without actually taking a flight, exploiting the change rules on a business-class ticket he had bought.

A German court ordered the man to repay Lufthansa 1,980 ($2,710), or about 55 for each time he visited the lounge. The man had bought a single ticket for about 744 and changed the date of travel repeatedly, exploiting the flexibility offered by that fare class. The airline canceled the ticket after more than a year and refunded the money. "Lufthansa pursued a prosecution only after the man bought the second ticket with the intention of resuming his foraging raids," Bloomberg News reporter Richard Weiss wrote on Wednesday.



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"Cause they told me everybody's got to pay their dues
And I explained that I had overpaid them"
- Rodriguez

"What a deplorable existence I lead in this absurd climate and under what frightful conditions! How boring! How stupid life is! What am I doing here?"
- Rimbaud 1884 (Aden)
 
triage
post Posted: Jun 26 2014, 08:27 PM
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Want to get an idea of why the current regime in Egypt has come down so hard on the journo Peter Greste and his mates from the Qatar media organisation, Al Jazeer?

Well this doco put out by Al Jazeer about Egypt's ongoing energy dealings with Israel may give a hint.

http://topdocumentaryfilms.com/egypt-lost-power/

I'm no student of middle east affairs but I suspect that one bunch of arabs accusing another bunch of arabs of aiding and abetting the "Zionist" state, and in doing so making billions for their cronies, is about as offensive as it gets. On the face of it it all seems to be about religion but another possible factor is that Qatar is already a huge exporter of natural gas and Israel now has the prospects of becoming not only self-sufficient when it comes to energy but a major gas exporter (it surprised me that Woodside even gave it a moment's thought to buy into the Israeli gas sector: talk about country and sovereign risk???).

FWIW hopefully though the Americans or perhaps the Israelis can work out a way to convince President el-Sisi that it is in his better interests to release at least the western journo as soon as possible.



--------------------
"The market can stay irrational longer than you can stay solvent." John Maynard Keynes

"The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought." Rudiger Dornbush

"It is the mark of an educated mind to be able to entertain a thought without accepting it." Aristotle
 


arty
post Posted: Jun 25 2014, 02:33 PM
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In Reply To: arty's post @ Jun 25 2014, 10:37 AM

http://www.huffingtonpost.co.uk/2012/11/04..._n_2072727.html
QUOTE
Britain Has Invaded Nine Out Of Ten Countries, From France To United States
Britain has invaded nearly 90% of the world's countries during its history, with only 22 out of 193 not on the receiving end of a bit of Great British aggression according to new research.

The findings are detailed in a book, "All the Countries We've Ever Invaded: And the Few We Never Got Round To", by history author, Stuart Laycock.




--------------------
I trade daily, but I am not a licensed adviser. Whether you find my ideas reasonable or not: The only person responsible for your actions is YOU.
I follow two rules: (1) There are no sacred truths. All assumptions must be critically examined. Arguments from authority are worthless. (2) Whatever is inconsistent with observed facts must be discarded or revised. We must understand the Market as it is and not confuse how it is with how we wish it to be. (inspired by Carl Sagan)
 
arty
post Posted: Jun 25 2014, 10:37 AM
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In Reply To: nipper's post @ Jun 25 2014, 10:27 AM

"Do as I say. Forget what I do."



--------------------
I trade daily, but I am not a licensed adviser. Whether you find my ideas reasonable or not: The only person responsible for your actions is YOU.
I follow two rules: (1) There are no sacred truths. All assumptions must be critically examined. Arguments from authority are worthless. (2) Whatever is inconsistent with observed facts must be discarded or revised. We must understand the Market as it is and not confuse how it is with how we wish it to be. (inspired by Carl Sagan)
 
nipper
post Posted: Jun 25 2014, 10:27 AM
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QUOTE
A SENIOR Greenpeace executive commutes to work by plane despite working for an organisation that calls for flights to be restricted because of their contribution to global warming.

Pascal Husting, international program director of Greenpeace International, flies 350km between his home in Luxembourg and the group's headquarters in Amsterdam. He has been making the journey several times a month since 2012 after telling colleagues the train would take too long.

Greenpeace aggressively campaigns against airport expansion and argues "the growth in aviation is ruining our chances of stopping dangerous climate change". Information on its website reads: "Flying causes 10 times more climate change than taking the train."
The Times

similar to many- hubris takes over



--------------------
"Cause they told me everybody's got to pay their dues
And I explained that I had overpaid them"
- Rodriguez

"What a deplorable existence I lead in this absurd climate and under what frightful conditions! How boring! How stupid life is! What am I doing here?"
- Rimbaud 1884 (Aden)
 
arty
post Posted: Jun 24 2014, 06:02 PM
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You may have seen Felix Baumgartner's jump from 128,1000 feet - but have you ever seen it FIRST PERSON like this???

If you've ever been in freefall you'll find this exhilarating, to say the least.
After about a minute you will see the altimeter and airspeed indicator come on the screen.
Watch the speed, and his rate of descent. Also watch the heart rate !

24+ miles above the surface of the Earth. What a view!

http://www.flixxy.com/first-person-view-of...5KxEhDi7Q.gmail



--------------------
I trade daily, but I am not a licensed adviser. Whether you find my ideas reasonable or not: The only person responsible for your actions is YOU.
I follow two rules: (1) There are no sacred truths. All assumptions must be critically examined. Arguments from authority are worthless. (2) Whatever is inconsistent with observed facts must be discarded or revised. We must understand the Market as it is and not confuse how it is with how we wish it to be. (inspired by Carl Sagan)

Said 'Thanks' for this post: balance  
 
 


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