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What is a hangover, Dad?
‘What is a hangover Dad’ was the question we were asked
during our school run this morning. As ‘it
wasn’t me’ as 2 beers after a run doesn’t
do that we were remiss to ask ‘why do you
ask?’.
However It did
give us the opportunity to provide some analogies & connect them with some
lessons to be learnt. But do we learn & those who might have suffered a 2nd
hangover & even sworn off it sometimes don’t.
This is
what the markets are suffering at present. Not of course those European
politicians who were on their sacrosanct August holidays when decisions
were needed to be made. So the markets have had a riot of a party. We can only sympathise
with those English Bobbies after teaching maths in North London in 1975 &
1976.
Why is the
electorate so mad at present. Why would there be a riot of a poll if it was
held today. Simply because all that is wrong
in Europe we are seeing here. The English are taking their medicine after laboring
with a government which was turfed out because they were very browned off. Just
compare what
Brown sold gold at then & the
1800p.oz it is today.
Now the
rest of Europe is having its hangover & unfortunately when others have
hangovers you don’t want to be around. This could be a long hangover as the
European banks as Peter Q from Bell Potter suggested in April haven’t yet ‘dried
out’ or recapitalised as they need to do. Peter Q was also optimistic on next
year & demonstrated with a template that this was ‘normal volatility’. He also suggested 15% correction & we may
well have suffered more than that but it was fair guideline.
Very simply
the party where we have Big Brother government provided the cheap plonk &
the banks the cheap debt is over. It’s now back to individual responsibility where you are in charge of your destiny. As
coach Robbie Deans has pointed out & what
the Wallabies didn’t do on last Saturday night ‘you must play what is in front of you’ & ‘you must earn the right & confront’ before going sideways. We understand
at least two of those All Blacks have no hangovers as they intend to have a
bigger party [maybe] in October. Self discipline is what Dad would like a child
to practice although we can’t be a spoil sport or ‘train cats’.
The electorate
is mad because they have been ‘on the wagon’ for 3 years & the poll dancers
& the ‘taxx & confiscate’ haven’t. Why are there so many anti Red Queen
emails circulating?
It was
scary to be advised that the IRS want to
know [‘Important
changes to US tax documentation processes. Due to changes made by the Internal Revenue
Service (IRS), clients now need to submit their own tax documentation if they
hold securities that pay U.S. derived income.
Read more...’] There is a lesson here to be read & we
suggest 1984 is a good read.
As Dads do we need & try to be exemplary. It
is time our elected leaders do the same. As individuals & companies most
are behaving & reducing down debts & saving cash & staying out of
DJs.
Is it now a better
time to ‘Now when we say we have a deal, we mean we have a deal and today
we have what could be THE
BEST PRICED CENTRAL OTAGO PINOT NOIR IN AUSTRALIA, IF NOT THE WORLD, PRODUCED
by AWARD
WINNING winemaker Ant Moore the, Row 88 Central Otago Pinot Noir 2009. AT UNDER HALF OF ITS NORMAL
PRICE FOR JUST $9.99 (DON’T PAY $25.99) this is one of those deals that even
we find hard to fathom but get in quick as once word gets out that we have a
Pinot Noir from NZ’s if not the world’s finest Pinot growing region Central
Otago!
This above email just arrived & although tempting we will
resist at least until October when those two AB forward abstainers might have a
better excuse for a party.
DWM did indicate to us on Tuesday ‘I
am going to be away for 2 months. While I'm away, use your discretion to invest
some of my cash fund.’
Bret suggested today ‘Might buy this morning & sell this arvo & then
invest the profits into some CFD's in currency for overnight, so I can make a
fortune even when I go to bed. Can't possibly see how that could go wrong.’
We will resist all at least until
October& you are welcome to call
us on 07 3848 1088 or email us or
visit our websites. It’s HW time
or practice before the next big game.
John McAuliffe
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