Australia Ashes Cricket, Skill Shortages, RBA, House Prices, Private Colleges, VET, Regulation

Último tomo de la colección, el número 40. A la venta la semana del 2 de noviembre de 2009, y la siguiente en muchas provincias.

Reúne 11 series de Bruguera, con la excusa (peregrina en algunos casos, como el de Los cuentos de tío Vázquez) de la temática familiar. Como sus tres entregas predecesoras, incluye una pequeña introducción con dos páginas de texto y una portadilla y una ficha para cada personaje:

- La familia Trapisonda, un grupito que es la monda, de Ibáñez. Primera página publicada (Pulgarcito, 1958) y 17 páginas de El Capitán Trueno Extra entre 1960 y 1962.

- La familia Pepe, de Iranzo. 18 páginas aparecidas en Pulgarcito entre 1948 y 1950.

- Doña Tula, suegra, de Escobar. 16 páginas de El DDT entre 1951 y 1955.

- Toby, de Escobar. Primera página publicada de la serie, más otras 15, todas aparecidas en Din Dan en 1967.

- Casildo Calasparra, de Nadal. 13 páginas publicadas en Pulgarcito entre 1948 y 1949 y 3 páginas de El DDT entre 1952 y 1953.

- Maripili y Gustavito, todavía sin pisito, de Nadal. 12 páginas aparecidas en Sissí y sus extras en 1958 y 1959.

- La familia Pí, de Peñarroya. 8 páginas publicadas en la primera etapa de Tío Vivo entre 1957 y 1958. Incluye la primera.

- La familia Gambérrez, de Vázquez. 9 páginas aparecidas en Ven y Ven (1959) y 3 del Suplemento de Historietas de El DDT (1959).

- La familia Churumbel, de Vázquez. 14 páginas de El Campeón de las Historietas y sus extras de 1960 y 1961, y 2 de El DDT, de 1962 y 1963. Incluye la primera.

- Los cuentos de tío Vázquez, de Vázquez. 8 historietas de dos páginas publicadas en Din Dan en 1968. Incluye la primera.

- La terrible Fifí, de Nené Estivill. 13 páginas aparecidas en Pulgarcito entre 1958 y 1962. Incluye la primera.

Enlaces sobre este tomo:

CLÁSICOS DEL HUMOR: LA FAMILIA TRAPISONDA Y OTROS PERSONAJES FAMILIARES (Guía del cómic)
Clásicos del Humor: final y balance (La cárcel de papel)
Reseña: “La familia Trapisonda y otros personajes familiares” (Cómic pasión)

After an eventful week which included several central bank meetings and the US Jobs report there is less for markets to get their teeth into this week.  Despite the weak US jobs report risk appetite looks relatively resilient suggesting that the USD will struggle to make much headway over coming days.  

Despite all of the events last week markets have been uninspired.  Even the G20 meeting delivered little to be excited about with no further developments on how to rebalance the global economy and the USD’s role in the process.  The lack of attention on the USD will leave it with little directional influence this week, with equity markets likely to the main driver once again.

One currency that may look a little better supported over coming days is the EUR.  GDP data later in the week is likely to reveal an expansion over Q3 after several quarters of contraction as indicated by various PMI data. Although it will likely be led by inventories and exports rather than domestic demand it will nonetheless come as good news, albeit backward looking.  Going forward growth in Europe is unlikely to match the pace of recovery in the US but for now the GDP data will be EUR supportive helping EUR/USD to gravitate around 1.50 and beyond. 

Meanwhile, central banks may also do their part in influencing currencies given their differing stances on monetary policy.  Although the Fed did not deliver any big surprises last week the FOMC statement will play for a softer USD as the currency looks to maintain its funding currency status for an “extended period”.   In contrast the RBA hiked rates as expected and despite hinting at more gradual rate increases in the months ahead the AUD continues to stand to benefit.   Going in the opposite direction the BoE increased its asset purchases but GBP avoided a significant negative fall out as the move is likely to be seen as the final step in the BoE’s asset purchase programme.

Penúltimo tomo de la colección y tercero de los cuatro dedicados a recopilar varios personajes. A la venta la semana de 26 de octubre de 2009, pero no disponible en casi ningún quiosco hasta la siguiente.

Consta de una corta introducción general, y de las consiguientes portadillas y fichas de las cinco series recopiladas:

- Blasa, portera de su casa, de Escobar. La historieta primera y 25 más, publicadas en Tío Vivo en 1957 y 1958.

- Apolino Tarúguez, hombre de negocios, de Conti. Entregas de El DDT y sus extras, de 1952 a 1962. 44 páginas.

- Facundo da la vuelta al mundo, de Gosset. Primera página de la serie y 47 más, publicadas en Tío Vivo (1964-1966) y Din Dan (1968-1972).

- Pepe Barrena, de Segura. Su primera aparición, e historietas publicadas en Gran Pulgarcito en 1969 y 1970, y Mortadelo y sus extras entre 1970 y 1972. En total, 28 páginas.

- Los casos del Inspector O’Jal, de Vázquez. La primera entrega, y 26 páginas más, procedentes todas del DDT (1968-1971), excepto una de un Din Dan extra de 1971.

Enlaces:

CLÁSICOS DEL HUMOR: BLASA, PORTERA DE SU CASA Y OTROS PERSONAJES CHAPUCEROS (Guía del cómic)
Clásicos del Humor: final y balance (La cárcel de papel)
Reseña: “Blasa, portera de su casa y otros personajes chapuceros” (Cómic pasión)

The Reserve Bank of Australia boosted its forecasts for economic growth for the coming year and indicated more interest rate increases are coming.

The RBA issued its quarterly Monetary Policy Statement Friday in Sydney.

The central bank’s forecast of GDP growth was expanded to 1.75 percent to the end of calendar year 2009, compared to its previous forecast of 0.5 percent growth.

The RBA said it projects growth in 2010 will rise to 2.25 percent for the year to June and 3.25 percent by the end of 2010. The bank’s August forecast predicted a growth rate of 1.0 percent to mid-2010 and 2.25 percent for full 2010.

On the future of interest rates, the RBA strongly hinted that more rate hikes were on the horizon, following increases of 0.25 percent at each of the last two monthly meetings.

"The board has judged it prudent to lessen the degree of monetary stimulus that was put in place when the outlook appeared much weaker," the statement said. "The cash rate remains at a low level, and a further gradual lessening of monetary stimulus is likely to be required over time if the economy evolves broadly as expected."

The RBA also said it expects inflation to continue to moderate, in the wake of a slowdown in wage growth and lower prices for imported goods. Underlying inflation, which excludes volatile items, is expected to drop to 2.25 percent by the end of 2010 from a projected 3.25 percent at the end of 2009.

The bank previously estimated 2.0 percent CPI contraction for 2010 and 3.25 at the end of 2009.

The government reported underlying inflation at an annualized rate of 3.5 percent in the September quarter.

As everyone knows by now, the RBA increased the cash rate yesterday by 25 basis points (or what normal folk call .25%).

This is expected to add an extra $46 each month to the average repayments on a mortgage of $300,000.

The Opposition has been particularly vocal in recent months in its opposition to the Government’s extensive stimulus spending, with calls for the spending to be dramatically cut back in the context of better than predicted employment figures and strong demand for resources and commodities.

As we have witnessed, Australia technically avoided a recession and has weathered the storm of the Global Financial Crisis far better than American and European economies.

The Treasurer Wayne Swan, maintains that the stimulus spending must continue arguing that any premature withdrawal would result in a sharp rise in unemployment. Although he has conceded in recent weeks that some cut backs could be on the cards.

However, figures out this week suggest that retail sales have fallen sharply in September possibly affected by the gradual withdrawal of government economic stimulus as well as concerns about rising interest rates.

Of course the lead up to Christmas is the peak period for Australian retail and it is the level of spending over this period that will provide an interesting indicator of the ‘confidence’ of the Australian consumer.

The strong Aussie dollar will be a boost for companies like JB Hi-Fi, however it does not bode well for the farming and agriculture sector who will be competing on international markets with cheaper exports from other countries.

While the strong Aussie dollar – buoyed by recent rate hikes – provides an indication of the strong Australian economy, Australia remains the first developed nation to raise interest rates since the beginning of the GFC.

Given the still precarious nature of the economy, did the RBA move too soon?

The Reserve Bank has lifted its key interest rate for a second month in a row as it attempts to keep Australia’s economy on track for sustained growth.

Today’s widely tipped 25-basis-point increase raises the central bank’s cash rate to 3.5 per cent, marking the first back-to-back monthly increase by the RBA board since March last year when rates peaked at 7.25 per cent.

The quarter-point increase will add about $45 to the average monthly payment for a typical 25-year, $300,000 mortgage if it is passed on in full by commercial banks – as looks likely.

 The ANZ, Commonwealth and NAB, announced their standard variable mortgage rate would rise by 25 basis points in coming days. Westpac said its rates are under review.

Federal Treasurer Wayne Swan said the rate rise will be tough on families and businesses, but rates could not stay at emergency lows for ever.

“Because the economy is recovering we’ll see changes to rates from time to time,’’ Mr Swan said

But the Treasurer warned banks on lifting mortgage rates by more than the RBA’s rise.

‘‘I don’t believe that any bank should have any justification to increase interest rates over and above the increase in the cash rate delivered by the Reserve Bank today,’’ he said.

The RBA’s accompanying statement echoed much of the wording of the October rate decision, which saw rates rise for the first time since March 2008.

”With the risk of serious economic contraction in Australia now having passed, the Board’s view is that it is prudent to lessen gradually the degree of monetary stimulus that was put in place when the outlook appeared to be much weaker,” RBA Governor Glenn Stevens said in the statement.

”The adjustments at the October and November meetings will work to increase the sustainability of growth in economic activity and keep inflation consistent with the target over the years ahead,” he said.

The statement ”just confirms the RBA is rather open-minded about pausing in December before probably hiking in February,” said Macquarie interest rate strategist Rory Robertson. The RBA board is not scheduled to meet during January.

The language of the RBA’s statement also underscores its policy of “gradual” rate movements, Mr Robertson said, with “gradual” likely a code for hiking by a quarter percentage point regularly but not at every meeting.

Investors responded to the rate rise by selling the Australian dollar, sending it more than one-third of a US cent lower to 90.34 US cents in recent trading.

Unexpected strength

”Economic conditions in Australia have been stronger than expected and measures of confidence have recovered,” Mr Stevens said.

Slightly modified in the statement, though, were Mr Stevens’ comments about inflation, one of the key reasons why the RBA has decided to start to tighten monetary controls.

”In underlying terms, inflation should continue to moderate in the near term, but now will probably not fall as far as earlier thought,” Mr Stevens said. ”Headline CPI inflation on a year-ended basis has been unusually low because of temporary factors, and will probably rise somewhat over the coming year.”

Last week’s headline CPI came in at its lowest in about a decade. The RBA’s preferred measured of inflation, though, remained at 3.5 per cent for the September quarter, year on year, above its 2-3 per cent target range.

More to come

Today’s interest rate rise is likely to be followed by many more over the coming year, if financial markets have it right.

While the RBA may hold off another increase when its board meets next month, ComSec’s Craig James says the pause may only be temporary.

”Clearly the Reserve Bank did not want to frighten the horses by lifting interest rates by half of one per cent at this time,” Mr James told Reuters.

”The question now comes to the December meeting: are we going to see a rate hike in December or not? It’s interesting that the Reserve Bank in its history has never lifted interest rates for three consecutive meetings.

”We believe that the Reserve Bank will hold fire in December, come back in February after it has time to assess the impact of the rate hikes on the economy, and perhaps when it comes back in February we will be lifting rates by 50 basis points at that time.”

China-fuelled

The RBA said the economy’s expansion is ”likely to continue during 2010,” with Australia set to benefit from its relatively large exposure to the faster growing Asian economies.

”Growth in China has been very strong, which is having a significant impact on other economies in the region and on commodity markets,” Mr Stevens noted in his comments.

Private investment, while still constrained by fall-out from the global financial turmoil over the past year, ”will not be as weak as earlier expected.” Spending on housing and public funding of infrastructure are also helping to bolster the economy, he said.

Mr Stevens also noted the recent run-up of residential real estate prices. ”Housing credit growth has been solid and dwelling prices have risen appreciably this year,” he said.

Dollar wary

On financial markets, the dollar’s dip came in part as traders digested the RBA’s comments indicating the central bank will monitor its recent strengthening closely.

The Aussie has risen 33 per cent against the US dollar over the past year, including 7.4 per cent in the past three months, making it the top performing major currency in the 12 months.

The RBA’s statement said: “The Board noted that the rise in the exchange rate is likely to constrain output in the tradeables sector and dampen price pressures.”

”They’re telling us they’re keeping a close eye on the currency,” said New York-based GFT currency specialist Kathy Lien.

The RBA is doing what the Bank of Canada has done recently, Ms Lien said, basically criticising the strength of the local currency in order to ease some of the momentum.

”If the acceleration of the currency gets too rapid, they might begin to express some concern,” she said.

Revised growth

Fresh data out in coming days may reveal the health of the economy. Retail sales for September may have risen 0.5 per cent for the month, figures out tomorrow may show, according to a survey by Bloomberg.

Building approvals may have accelerated to an annual growth rate of 8.2 per cent, and 2.3 per cent for September alone, in data also due out tomorrow. The trade balance, though, may blow out to a deficit of 2.15 billion for the month when figures are released on Thursday.

The Australian economy’s unexpectedly strong performance during the global financial crisis was fueled in part by record-low interest rates that the RBA is now nudging higher to prevent inflation picking up. The central bank has singled out a run-up in housing prices – which jumped an average 4.2 per cent in eight capital cities in the September quarter alone – as one area of concern.

Yesterday, the Federal Government upgraded growth expectations for the Australian economy, forecasting growth of 1.5 per cent in the 2009-10 year, up from a forecast of a 0.5 per cent contraction made in the May budget.

The Government also slashed its projections for the unemployment rate, which is now expected to be 6.75 per cent by next June, down from the 8.25 per cent forecast in the budget. The jobless rate is currently at 5.7 per cent.

As TV Tokyo’s World Business Satellite late night news program was drowned out by the sound of my washing up, I picked up the words “Australian Central Bank” – and turned to see that the 0.25% consecutive rate rise by the Reserve Bank of Australia had indeed been picked up by the late night news team on the TV channel affiliated with Japan’s ubiquitous financial newspaper, the Nikkei (Nihon Keizai) Shimbun.

And the presenters quickly showed why – a graph of central bank (official) rates in several countries showed that Australia was well higher than Norway, the EU, and the US, which had flatlined to the same level as Japan. Hence, whether the typical reading for such a macroeconomic policy movement be to curb spending, increase investment, or prevent deflation, for investors, Australia clearly offers one of the highest cash rates among OECD countries, and one of the first to begin raising rates (at least so the WBS graph seemed to indicate).

And, while there macroeconomic policies – or at least the policies on controlling official rates – may differ, it seems that Australia (HT political fiend) and Japan may well have in common a massive blowout in the public budget. On Monday the Hatoyama Cabinet was being subjected to questions and patronising remarks by LDP lawmakers as I tried to recover from jetlag after a delayed flight from Copenhagen. I only imagined the same thing was happening in Canberra, if only I could get off the couch to switch on the live feed from parliament…

Again, the difference is that Australia’s blowout is real; the Hatoyama blowout is still only on paper, for now. But let’s not forget the LDP has rung up public debt in the neighbourhood of 200% of GDP before the DPJ took power last month.

Text (in part) courtesy Brad Gooda Smartline Stones Corner, chart Courier Mail.

Today’s decision will see the cash rate lift from 3.25% to 3.50%. It is important to remember that the 3.00% cash rate was an “emergency” position for the RBA to take. The chart below depicts the rate changes in the last 4 plus years, from a high of 7.25% in March 2008 to the incredibly low 3.00% only a year later.

We have one more RBA Board Meeting (December) until February next year. It will be interested to see if the RBA wants to give us something to think about over our summer “Spending” break.

Australia’s central bank raised its benchmark interest rate by a quarter percentage point, the second increase in four weeks, amid signs the economy is strengthening.

STATEMENT BY GLENN STEVENS, GOVERNOR

At its meeting today, the Board decided to raise the cash rate by 25 basis points to 3.5 per cent, effective 4 November 2009.

The global economy has resumed growth.  With economic policy settings likely to remain expansionary for some time, the recovery is likely to continue during 2010 and forecasts have been revised higher. The expansion is generally expected to be modest in the major countries, due to the continuing legacy of the financial crisis. Prospects for Australia’s Asian trading partners appear to be noticeably better. Growth in China has been very strong, which is having a significant impact on other economies in the region and on commodity markets. For Australia’s trading partner group, growth in 2010 is likely to be close to trend.

Sentiment in global financial markets is much better than earlier in the year. Nonetheless, the state of balance sheets in some major countries remains a potential constraint on their expansion.

Economic conditions in Australia have been stronger than expected and measures of confidence have recovered. Some spending has probably been brought forward by the various policy initiatives. With those effects now diminishing, these areas of demand may soften somewhat. Some types of capital spending are likely to be held back for a while by financing constraints, but it now appears that private investment will not be as weak as earlier expected. Medium-term prospects for investment appear, moreover, to be strengthening. Higher dwelling activity and public infrastructure spending are also starting to provide more support to spending. There have been some early signs of an improvement in labour market conditions. The rate of unemployment is now likely to peak at a considerably lower level than earlier expected.

Inflation has been declining for the past year. In underlying terms, inflation should continue to moderate in the near term, but now will probably not fall as far as earlier thought. Headline CPI inflation on a year-ended basis has been unusually low because of temporary factors, and will probably rise somewhat over the coming year. Both CPI and underlying inflation are expected to be consistent with the target in 2010.

Housing credit growth has been solid and dwelling prices have risen appreciably this year. Business borrowing has been declining as companies have sought to reduce leverage in an environment of tighter lending standards. For many business borrowers, increases in risk margins are still coming through. The decline in credit has been concentrated among large firms, which have had good access to equity capital and, more recently, to debt markets. Share markets have recovered significant ground.

The Board noted that the rise in the exchange rate is likely to constrain output in the tradeables sector and dampen price pressures. Nonetheless, growth is likely to be close to trend over the year ahead and inflation close to target. With the risk of serious economic contraction in Australia now having passed, the Board’s view is that it is prudent to lessen gradually the degree of monetary stimulus that was put in place when the outlook appeared to be much weaker. The adjustments at the October and November meetings will work to increase the sustainability of growth in economic activity and keep inflation consistent with the target over the years ahead.

Well the purple patch is continuing with another fantastic day within the markets. However whilst the end result was very pleasing, getting there was certainly a mission within itself! I was down 30 pips by lunchtime (GMT+4) and I wasn’t feeling too good about things. However, putting emotions aside is absolutely paramount when trading. I quickly gained back the loss and I was then waiting for the US news release. I ended with up with a signal entry on TUFXP to go long at 133.12, I missed my entry by 3 but I decided I’d remove my limit of 25 pips and let the trade run incase the news went my way. Went my way it certainly did! I closed out for +75 pips and a very pleasing result. The NY breakout method also collected +100 pips. 50 on EJ long and 50 on EU long. GU was only valid for a short but that went out the window with the news. So another strong day pips wise and % wise.

I’ll be up early tomorrow for the Australian RBA release and some analysts are predicting 50 base points rise whilst others are going with 25 base points. I’ll be fully hedging this one so I’ll be looking for at least 25 pips of movement in one direction without any violent spikes!

Whilst I consider myself fairly well disciplined, everyday provides a new challenge and I’m happy I didn’t go chasing the market. 30 pips was absolutely nothing and I knew there would be plenty of opportunities ahead to gain them back and thankfully things panned out well. Keep a strong mind and the results will follow..

A big thanks to my trading room today for some high quality entertainment and banter..

Internships in today’s economy are getting harder and harder to come by.  As a result, many college students are turning to less legitimate job sources, even… Craigslist [cue dramatic music].  Every time a friend tells me that they’re looking for jobs on Craigslist, I am reminded of my first experience with the site.

I was looking for a marketing internship, and sure enough, Craigslist had one.  I applied and went for an interview.  The owner gave a vague description of his start-up marketing company that he ran out of his parent’s house.  The internship would be from home and sounded cool enough, so I took it.  I received no instructions or training, forcing me to ask questions every step of the way.  After a few weeks, I stopped receiving emails.  I immediately jumped to the conclusion that I had been a terrible marketing intern.  What else was I supposed to think?

Looking back, I can see two problems, neither one of which was my own ineptitude.  Firstly, I was working for a guy who thought it was appropriate to cold shoulder an intern.  More importantly, neither of us was aware of our Role.  I now know that I am a Vision Mover, and as such, I need a clear vision to work with in order to be successful.  While I learned absolutely nothing about marketing, I did come away with a newfound appreciation for the wise words of Dwayne “The Rock” Johnson, who frequently reminded the WWE audience to “Know your role!”  Can you smell what the Rock is cookin’?

Governors of the world’s central banks have agreed to use interest rates as the blunt tool to try and slow asset price growth even though Alan Greenspan is on the record as saying this is ineffective.

The Global consensus is that rates need to rise to dampen the 76% increase in stock prices; the high gold price and the continuing increases in real estate and oil prices.

Bloomberg

As part of the Public Policy Breakfast Forum at the John Curtain Institute of Public Policy, Glenn Stevens, Governor of the Reserve Bank of Australia, shared his thoughts about the current economic climate we are experiencing. As home owners, buyers, and investors, we have all been interested to know what the global financial crisis means for Australia. Glenn Stevens offered some hope on the economic situation.

According to Mr Stevens, the economy is probably past its weakest point, and excluding any great international setbacks, it is likely to continue to improve into 2010. He does however mention that we need to encourage a sustainable and responsible amount of growth.

To read the full address, download RBA – The Conduct of Monetary Policy in Crisis and Recovery

What are your thoughts on this topic? Has Australia managed to be relatively unscathed by the recent economic turmoil? Or are we simply lagging behind and are yet to feel any real economic pain?

Semana del 19 de octubre de 2009: entrega número 38 y antepenúltima de la colección, dedicada 9 de las series humorísticas de Bruguera con protagonistas “frustrados”.

Tras un leve texto introductorio, se presenta una selección, precedida de portadilla y ficha, de las siguientes cabeceras de historieta:

- Don Berrinche, de Peñarroya. Incluye la primera historieta del personaje, aparecida en 1948 en El Campeón, y una selección de páginas aparecidas entre 1949 y 1964 en Súper Pulgarcito, El DDT, Ven y Ven y Suplemento de Historietas de El DDT. En total, 28 páginas.

- Pepe el “hincha”, de Peñarroya. Selección de 20 páginas publicadas entre 1964 y 1973 en números regulares y especiales del semanario Tío Vivo. Incluye la primera.

- Golondrino Pérez, de Cifré. Selección de 8 páginas aparecidas en Tío Vivo entre 1957 y 1958. Nota: “Golondrino Pérez es una versión diferente de otro personaje que el propio Cifré ya había creado para el semanario Pulgarcito en 1949: Cucufato Pi”. Cabe añadir que Golondrino habla permanentemente en verso, mientras que su antecesor Cucufato no lo hacía.

- Plim, el Magno, de Escobar. Selección de 16 páginas publicacas en Pulgarcito en 1969. Incluye la primera.

- Don Polillo, de Vázquez. Selección de 22 historietas publicadas como portadas de Gran Pulgarcito entre 1969 y 1970. Incluye la primera.

- Deliranta Rococó, de Montserrat Vives y Martz Schmidt. Selección de 18 historietas publicadas en Mortadelo y Súper Mortadelo entre 1979 y 1981. 

- Pepe, de Jaume Rovira. 20 páginas publicadas en DDT entre 1969 y 1970. Incluye la primera.

- El mini Rey, de Joan March. Selección de historietas publicadas originalmente en Súper Mortadelo y Bruguelandia entre 1981 y 1983. En total, 18 páginas.

- Ricky y Los Desahuciados, de Jesús de Cos y Miguel. Con 15 páginas de historietas publicadas en Súper Mortadelo entre 1984 y1986. Incluye la primera.

Enlaces:

CLÁSICOS DEL HUMOR: DON BERRINCHE Y OTROS PERSONAJES FRUSTRADOS (Guía del cómic)
Clásicos del Humor (La cárcel de papel)

Tuesday in Asia, the Aussie surged up to fresh multi-month highs against its U.S., European and Japanese counterparts after the release of the minutes of the Reserve Bank of Australia’s October meeting showed that the board members saw evidence of improving economic conditions both at home and abroad when they voted earlier this month to raise interest rates.

The Aussie also showed strength against the currencies of New Zealand and Canada.

Concerns about inflation and recognition that Australia’s economy was improving faster than other developed nations prompted the Reserve Bank of Australia to raise interest rates earlier this month.

It is quoting now (16:30 GMT+8  ) at 0.9269 with a high at 0.9311.

Israel, fue el primer país en el mundo en subir sus tasas de interés. Su banco central decido subir en un cuarto de punto sus tasas de interés (.25) para pasar a un final del 3.25%.

Así, se da el primer paso de forma mundial a la recuperación que se empieza a vislumbrar, pero todavía sin una imagen nítida en la que nos podamos confiar. Después de esta alza, se comento en todo el mundo que podria ser el inicio de la recuperación y esta subida podría ser algo contagiosa, lo cual podria beneficiar a los países que poco a poco vayan saliendo adelante ante la crisis.

Pues tenían razón…

La semana pasada, la RBA (Banco de Reserva Australiana) anuncio también una subida en sus tasas de interés de la misma manera de Israel (.25) para colocarlo en 3.25%. Australia es el primer país desarrollado en hacerlo (G20).

En nuestro continente, Chile será el primer país dentro de su región, en aumentar sus tasas de interés. Se prevé que para el primer trimestre del 2010 se terminaría en un nivel entre e 2% y 4%.

Como ya sabemos, las tasas de interés dentro de la economía se encuentran ubicadas dentro de la política monetaria de cada país, la cual es regulada por sus respectivos bancos centrales. Estas tasas son instrumentos para regular y ajustar la moneda en relación con su flujo nacional. (o al menos así lo tengo entendido).

Al subir las tasas de interés, se ajusta la demanda agregada en los países al ocasionar una disminución en la misma, al contrario del circulante que tiene un efecto directo.

Durante esta etapa económica difícil, las tasas de interés habían disminuido para mejorar o motivar a las personas a comprar y así, ir moviendo la economía poco a poco para que pueda empezar a andar sola (esperando que ahora si sea bien regulada y no sigan inventando mas instrumentos financieros engañosos, complejos).

AmoK.

The majority of US Q3 earnings have beaten market expectations resulting in a boost to risk appetite and further pressure on the US dollar. At the time of writing, 61 companies have reported earnings in the S&P 500 and an impressive 79% have beaten forecasts according to Thomson Reuters. This week there are plenty of earnings on tap and although a lot of positive news appears to be priced in the overall tone to risk appetite remains positive. This implies a weaker US dollar bias given the strong negative correlation between US equities and the USD index.

Aside from the plethora of earnings there are plenty of data releases on tap this week including housing data in the US in the form of building permits and starts as well as existing home sales. The data will likely maintain the message of housing market stabilisation and recovery in the US. There will also be plenty of Fed speakers this week and markets will once again scrutinize the speeches to determine the Fed’s exit strategy.

Highlights this week also include interest rate decisions in Canada and Sweden. Both the BoC and Riksbank to leave policy unchanged and expect a further improvement in the German IFO in October though at a more gradual pace than in recent months. There will be plenty of interest in the UK MPC minutes given conflicting comments from officials about extending quantitative easing. RBA minutes will be looked at for the opposite reason, to determine how quickly the Bank will raise interest rates again.

The USD index managed a slight rebound at the end of last week but is likely to remain under pressure unless earnings disappoint over coming days. US dollar Speculative sentiment became more bearish last week according to the CFTC IMM data, with dollar bloc currencies including the AUD, NZD and CAD benefiting the most in terms of an increase in speculative appetite. GBP short positions increased to a new record but the rally towards the end of last week may have seen some of these short positions being covered. Overall any recovery in the USD this week may just provide better levels to go short.

Thursday, Reserve Bank of Australia Governor Glenn Stevens said that interest rates will need to be raised appropriately to foster a sustained economic recovery in the country, giving a clear indication that further rate hikes can be expected sooner rather than later.

Speaking at a public policy breakfast forum in Perth, Stevens said that it would be a mistake to be "too timid" in hiking interest rates in a timely manner, when the worst of the recession appears to be already over.

In its last monetary policy meeting on October 6, the Reserve Bank raised the benchmark interest rate to 3.25% from a 49-year-low of 3%.

Following Governor Stevens’ comments on monetary policy, the Australian dollar jumped to 14-month highs against the U.S. dollar and the euro.

It’s now (at 14:45 GMT+8  ) at 0.9215 with a high at 0.9228.

RESERVE Bank governor Glenn Stevens explained that just as rates were cut rapidly, they also would have to rise in a ‘timely fashion’…. From The Australian. Full story

This site may contain information about: fashion models. The blog is also related to: fashion catwalk.

When I started this blog, I did it with the intent that I’d turn it over to the younger, fresher voices of our interns.  Brian wrote this and I had to laugh because I was well into my – ummm – more than thirties – and still dreading the question.  In fact, if I wasn’t doing what I’m doing, I’d be dreading it too.  Here’s Brian:

College is a very uncertain time for many of us.  One of the most confusing things can be the one thing that everyone feels compelled to ask constantly; “So… what do you want to do?”  I personally cannot escape this question.  Anyone I’ve ever met that has run out of legitimate things to say to me immediately falls back on this question.

Unfortunately, it’s a question many of us can’t answer.  There are the lucky few who happen to love the first thing they do, but most of us just try things until we find something that we’re good at, and even then, happiness isn’t guaranteed.

Fortunately for those of us who fall into the latter category, there are tools out there to help us answer this difficult question.  One such tool is Role Based Assessment.  RBA offers a different way of looking at ourselves, and how we fit into the workplace.  Universities across the country are noticing its usefulness.  One prominent northeastern college is considering offering RBA to all of its undergraduate business students, after being taken by only six students.  While there are other tools out there that were created for career guidance, RBA has been proven to work.

Wouldn’t it be nice to have something else to say the next time someone asks what you want to do?  Keep in mind: Thanksgiving break is approaching rapidly, a classic time for that question.

—

Ok Brian, I hereby promise NEVER to ask that question again.  Well, unless I’m trying to interest someone in getting the answer that’s right for them.

Be your own knight in shining armour – time to get building your own castle!

I thought I’d tell you a bit about my property history, to encourage you along with how easy and beneficial buying homes for yourself really is. With the economy the way it is currently, it is an opportune and (relatively) easy time to enter the market. Melbourne is a very property – centric city, we love our auctions, our quarter-acre blocks, and increasingly our townhouses and apartments. The amount of growth I got out of the little investment properties I owned – well, quite frankly I couldn’t have saved it from the wages I was earning.

Buying property as a young woman by myself was both scary and wonderfully empowering. I was living on a pretty tight budget, but successfully managed to nab myself a newly fitted out apartment on Raleigh Street, in Thornbury. Here is a photo of my first little apartment – how I loved it.I bought it for $195,000.00 back in 2005. Thornbury was a great neighbourhood, and had all the qualities that a good growth neighbourhood has. It was close to public transport and within 10 kilometres of the city. It had lots of older homes with permanent residents, and good amenities like Safeway, the Police, gorgeous All Nations Park in Northcote and lots of primary schools. It also had a rockin’ Greek Orthodox Church on St David Street. Areas in the inner north such as Preston, Thornbury and Reservoir are still very affordable, and a great way to start investing. Because these areas are so well serviced and full of families, you are assured of good rental returns too. I sold it in 2008 for $245,000.

I then went on to buy a little property on Rossmoyne Street, Thornbury – only a couple of streets away from Raleigh Street. And boy, WAS IT UGLY! It was so ugly, in fact that I don’t even have any pictures of it for you. It was mouldy and skankier than a Pussycat Doll. Its bathroom was like something out of a Silent Hill video game. But I put a couple of tenants in there – it didn’t quite cover the loan amount, but it did have low body corporate fees which made it OK to hold onto. I purchased it in 2007 for $165,000. I sold it in 2008 for $225,000.

I then decided I’d get creative and buy a bomb with ‘great bones’ in Preston. Now, I personally love Preston. It is a big mix of people, from new migrants all the way to really old skool Italians, Greeks and Turks. Preston has a fascinating history and there is lots of pre-war and post-war interesting architecture around, along with the most incredible vegie patches you’ve seen. I bought a three bedroom home in late 2007 for $320,000. Here is a picture of the old girl.

By the time I finished with her, she did look a bit better. It was a huge home and would have been a massive renovation job. I did enjoy my time there, as Preston also has Northland nearby, great public transport, the Preston Market and lots of families living nearby. Funnily enough, I bought all three of these homes through Love Real Estate, who are in both Thornbury and Preston. I got engaged within a year of buying this home, and I sold this home exactly a year after I purchased it for $355,000.

I didn’t come from a family of investors or property moguls. I really just gave it a crack and hung on to my properties as long as I could. I used the equity (or the amount the property increased in value according to the bank) to purchase secondary investment properties. The combined profit allowed me and my husband to purchase a funny little home in Carlton which has a lot of work to do, but has a great spirit (and excellent potential growth). We bought this one through Nelson Alexander. Here she is.

So, my purpose in writing this little history of my own experiences is: don’t let the ‘bigness’ of owning a home by yourself stop you from doing it. With the right loan from a good broker, a good little apartment in a neighbourhood with potential and some determination – you will be your own knight on a white horse. I am only 26 and have expertise in selling over 160 homes for other people – but I have also owned four by myself. I can help point you in the right direction so that you can begin getting up on your own feet – it really is the key to financial independence. I will be able to help you figure out what you want – and the next few steps you need to take in order to make it yours. Talk about good karma!

 Iolanthe Gabrie

Director

Ruby Slipper Consultants

e.iolanthegabrie@mac.com

m.0403 475 919

Twitter with me peeps: http://twitter.com/Iolanthegabrie