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October 7, 2020
Coffin Bay, South Australia
I have decamped to the township of Coffin Bay for the next few weeks. It's a great community on South Australia's Eyre Peninsula and home to the finest Oysters in Australia. If you doubt me, you can order some for home delivery and try them for yourself!
Although only a small town, it has never been as busy as it is currently. The few shops and restaurants are booming thanks to domestic tourists, many visiting for the first time.
I love that people are discovering this part of the world and suspect more will do so in the years ahead. That's because there is little optimism that the international travel bans are going to disappear any time soon.
It's all going to come down to a coronavirus 'vaccine' which 'everyone' will need to take. If that sounds a bit suspicious to you (like it does to me) then you'll also be suspicious of last night's budget.
Although the Budget 2020 financial figures are dreadful they'll be even worse if a vaccine isn't discovered very soon.
Not that it seems to worry many media commentators or business groups. They love the irresponsibility of throwing borrowed money around because they can make money out of it today and leave others to pick up the debt.
Many Australians could be forgiven for counting the cash handed to them in last nights Federal budget. The government hopes you'll spend it which is why there was something in it for almost everyone - even those yet to be born.
They get the privilege of paying back the trillion dollars in debt we are on the hook for. Here's my bet. The forward estimates debt figures will prove as fanciful as every other budget projection from the past ten years.
You won't read much in the media about the scandalous conduct of the Obama administration, aided and abetted by Hillary Clinton and her cronies.
That's because they are Democratic royalty and have a protection racket going with most US media networks.
Naturally that racket extends to our media who can't get past brown skin and female body parts as the principle criteria on whether someone is worthy of their support.
But it's not just deception and criminal conduct that plagues the modern day Democratic party. They are also religious bigots. This was revealed in the Wikileaks email expose of some years ago but was on display again when Trump nominated his candidate for the Supreme Court.
Despite her impressive history and suitability, the Democratic machine went to war against Amy Coney Barrett because she is a Catholic. It begs the question if they'd allow JFK to be part of the tribe today?
A lot of recent financial media commentary has been about how government borrowing is costing us less because interest rates are so low.
That's true today but it cannot last forever, Eventually market forces will see interest rates rise, no matter what government does. Read why it could happen much sooner (and faster) than many think.
Just as we were scheduled to pay off Kevin Rudd's temporary debt of $200 million, we find ourselves faced with a new wall of debt that some of us warned about years ago. Those concerns were dismissed but the passage of time proves the adage that a billion here, a billion there, pretty soon you are talking real money!
This week I've included a few updates on previous posts including our crypto portfolio performance and how Australia's covid mortality figures are probably just as dodgy as the US ones.
Plus, get the inside scoop on how my latest ride share hack let me get home for just 15 cents! It's so easy you can do it too.
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Until next week.