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Halebop
18-05-2006, 09:31 PM
US Treasury yields for the last 12 years. Almost 10 years to confirm the trend and then another 2 to break it...

http://img73.imageshack.us/img73/8615/tyxin13may94to19may064zv.png

2 years...

http://img47.imageshack.us/img47/9111/tyxin13may04to19may064sp.png

Halebop
18-05-2006, 09:33 PM
So are we looking at a rising cost of money? Or is it a short term abberation? What are the consequences of more expensive debt?

skinny
19-05-2006, 12:01 PM
Yes. What Greenspan called a conundrum and Bernanke calls the "global savings glut" does look like it is unwinding.

A few hypotheses:

1) Financial markets are realising Bernanke is not a cuddly toy despite external appearances (his journal articles would have revealed this long ago but the math is a bit much for your average 20 something year old bonehead trader or Bush administration official ;)) Most central banks around the world are also in tightening phases.


2) In relation, concern over world inflation (oil) continues to increase.

3) Savings diversification away from the US gains momentum - alternative currencies and commodities are popular now but ultimately the funds will probably be soaked up by Asia itself as financial markets develop in the region. [Note, however, there is a counter argument run by people such as Leeper that the US has a strong competitive advantage in managing other peoples money and hence it will continue to take the lions share of world savings.]

4) US risk premiums rise due to concern over the twin deficits


(1) and (2) imply a rise in the world cost of capital, (3) and (4) are more US specific stories, but hard to isolate spill over effects. My pick is that the world cost of capital is certainly headed north from here and would not be surprised to see long dated treasuries perhaps going back over 6%. The valuation effects of this are obvious, but prefer to sit on cash then go short!

Halebop
19-05-2006, 01:02 PM
I don't think there would be much threat in the concept at 6% but up around and over 8% would be getting more exciting.

Cooper
20-05-2006, 11:25 AM
Would the consequences be unwelcome, given what we know of some countries savings rates? (Yes I'm looking at you, NZ). It's probably something for the indebted to consider.

What other "fixes" to the problem could there be (or could be engineered) though? Surely changes in relative currencies between net savers and net borrowers would alleviate some of the problem? Or the US accepting that it's currency's special status has changed, and beginning to act accordingly?

Halebop
20-05-2006, 02:31 PM
It depends what the real problem is I think. If the real problem is inflation the only response that ever occurs, no matter how long they try to defer it, is a harshly higher interest rate to crush the beast. The longer they defer the bad tasting medicine, the worse it tastes.

So is inflation "structural"? (Is there such a thing?) Or cyclical and soon to recede? Have recent rises by various reserve bankers been enough to assuage the beast?

Its been a long time since I had to invest in an inflationary environment and I had the benefit of ignorance and a speculative equity bubble to insulate my ineptitude. Inflation is nobodies friend. Even gold bugs will struggle to pay the rent with the stuff.

Is inflation only just coming or has it been tamed already? I'm getting uncertain about the resource boom and its impact on financial assets. It might be the golden egg yolk that drowns the goose.

Cooper
21-05-2006, 12:29 PM
quote:Originally posted by Halebop

It depends what the real problem is I think. If the real problem is inflation the only response that ever occurs, no matter how long they try to defer it, is a harshly higher interest rate to crush the beast. The longer they defer the bad tasting medicine, the worse it tastes.

So is inflation "structural"? (Is there such a thing?) Or cyclical and soon to recede? Have recent rises by various reserve bankers been enough to assuage the beast?


I don't know if you can ever be sure. They certainly appear to be targetting perceptions of inflation as opposed to overall inflation itself. Is this enough? How close do they have to get it for any extra inflation to be "written off" as an abberation? There is significant talk about the inflationary pressures which aren't being considered, but does this factor deflationary pressures like lower cost production?

I think you'll have to define what you mean by "structural" for me... are you referring to the focus primarily on a low inflation environment or the nature of the fiat system?


quote:
Its been a long time since I had to invest in an inflationary environment and I had the benefit of ignorance and a speculative equity bubble to insulate my ineptitude. Inflation is nobodies friend. Even gold bugs will struggle to pay the rent with the stuff.


I still have the benefit of ignorance, so I should be good...


quote:
Is inflation only just coming or has it been tamed already? I'm getting uncertain about the resource boom and its impact on financial assets. It might be the golden egg yolk that drowns the goose.


I won't ask why the Goose was eating it's own eggs. That's just sick. The question for me is if the same process or structure can be maintained in a different form if expectations begin to develop that inflation is getting too high. Can expectations be reigned back in by changing the structure to provide more accountability or transparency?

So you're saying the resource boom is a result more of inflationary expectations than it is of increased demand?

Halebop
21-05-2006, 12:40 PM
quote:Originally posted by Cooper

So you're saying the resource boom is a result more of inflationary expectations than it is of increased demand?


I don't know. But the alleged $120b of "Hot money" playing commodities has less to do with demand than expectations of both demand and inflation.

P.S. Geese are sick, disgustung creatures. They also like Brussel Sprouts and watching Paul Holmes.

Halebop
21-05-2006, 12:43 PM
quote:Originally posted by Cooper

I don't know if you can ever be sure. They certainly appear to be targetting perceptions of inflation as opposed to overall inflation itself.

Lets say someone convinces me gravity doesn't exist and so my expectation of gravity is nil. Sooner or later perception and reality will have to collide. Probably at speed. Bet those damned evil geese had something to do with it.

Halebop
21-05-2006, 12:46 PM
quote:Originally posted by Cooper

I think you'll have to define what you mean by "structural" for me... are you referring to the focus primarily on a low inflation environment or the nature of the fiat system?

By structural I meant like a relative visiting from the UK. Unwelcome, here for quite a while and much more expensive than anything I envisaged.

Halebop
21-05-2006, 12:47 PM
quote:Originally posted by Cooper

I still have the benefit of ignorance, so I should be good...

It works for me. With your good looks and ball passing skills combined with a totally healthy hatred of geese you should be sweet.

Cooper
21-05-2006, 12:49 PM
quote:Originally posted by Halebop


quote:Originally posted by Cooper

So you're saying the resource boom is a result more of inflationary expectations than it is of increased demand?


I don't know. But the alleged $120b of "Hot money" playing commodities has less to do with demand than expectations of both demand and inflation.

P.S. Geese are sick, disgustung creatures. They also like Brussel Sprouts and watching Paul Holmes.


That's it. Next time that goose liver pate is trundled out, I'm in. And I'm taking my own pack of crackers. That honking sound they make always struck me as unnatural.

Halebop
21-05-2006, 12:51 PM
quote:Originally posted by Cooper

...That honking sound they make always struck me as unnatural.

That's how they taunt you know...

Cooper
21-05-2006, 01:01 PM
quote:Originally posted by Halebop


quote:Originally posted by Cooper

I don't know if you can ever be sure. They certainly appear to be targetting perceptions of inflation as opposed to overall inflation itself.

Lets say someone convinces me gravity doesn't exist and so my expectation of gravity is nil. Sooner or later perception and reality will have to collide. Probably at speed. Bet those damned evil geese had something to do with it.



You're right of course. The difference is we're more informed about gravity than we are about inflation. Inflation experiences more lags, and is less easy to quantify. As Inflationary expectations are forward looking, the problem is trying to inputs which can only be assumed, so "rough enough" can be good enough, hence inflationary bands. Whereas I know if I'm 10% "heavier" because of gravity, I can only guess at the amount my buying power has been reduced by in a high inflation environment.

If high inflation is expected but low inflation exists, we have high inflation. If inflation is high and low expectations exist, we eventually get high expectations. If inflation is high we get high expectations. The only way it ever works is if expectations and inflation are both low. Is that a state that can be maintained?

If inflation, or more importantly the expectations thereof, get away on us, then it'll be harder to rein in than last time. What alternatives could there be?

Cooper
21-05-2006, 01:04 PM
quote:Originally posted by Halebop


quote:Originally posted by Cooper

I think you'll have to define what you mean by "structural" for me... are you referring to the focus primarily on a low inflation environment or the nature of the fiat system?

By structural I meant like a relative visiting from the UK. Unwelcome, here for quite a while and much more expensive than anything I envisaged.


Reciprocate. With friends and a poodle.

Cooper
21-05-2006, 01:06 PM
quote:Originally posted by Halebop


quote:Originally posted by Cooper

...That honking sound they make always struck me as unnatural.

That's how they taunt you know...


...and their beady Goose eyes, which follow you no matter where you are. They've done it well though, you have to admit. Foisted humanity's perception of their evil onto the Duck. There's no goose shooting season, you'll note.

The freemasons of the animal kingdom.

Halebop
21-05-2006, 01:20 PM
Their evil is indeed insidious. Don't look at their eyes for long though. They hypnotize their prey into believing all sorts of crazy stuff.

Cooper
21-05-2006, 06:09 PM
quote:Originally posted by Halebop


quote:Originally posted by Cooper

I still have the benefit of ignorance, so I should be good...

It works for me. With your good looks and ball passing skills combined with a totally healthy hatred of geese you should be sweet.


I've come upon a stumbling block with our ignorance theory. I thought I'd top our intellectual discussion off by finding a picture of a menacing looking goose, only to find I'm too ignorant to put a picture on ST. Cue frustration and eventual dismissal of the idea.

From this I've learned that ignorance is frustrating, not "bliss" as the phrase would lead you to believe, and if posting pictures is anything to go by, then my particular brand of ignorance may not help too much against the forces of inflation. It's an evil ignorance, a goose ignorance if you will. I'm just thankful that I'm still handsome, if ignorant.

Westie
22-05-2006, 01:33 PM
quote:I'm getting uncertain about the resource boom and its impact on financial assets

My recent readings on economic cycles suggest that commodity price booms are the last stages of a bullish economic cycle & harken a recession. Unfortunately i'm too young to be able to offer much comment on the truth of this. You might find the latest Legg Mason fund's 1st quarter commentary, written by Bill Miller, interesting though. He seems to remember the boom of the 70's, although i was told never to trust anyone over the age of 30 :o)

I've pasted the link & an excerpt.
I note that, disappointingly, there is no mention of any avian species, goose-like or not, nor how they may influence future market trends. Makes me wonder if Miller is all he is cracked up to be really.....

http://www.leggmason.com/funds/knowledge/management/2006MillerCommentaryQ1.pdf



quote:The great commodities bull market in the 1970’s had many of the same features as this one, except that most of what drives
this story is demand, while that one was driven by scarcity of supply, either due to the OPEC cartel, or due to Club of Rome
type analyses about running out of all the major commodities. (If you don’t remember the Club of Rome you are of a different
generation.) I recall one prominent forecast around 1979 that oil would go up 15% per year “forever.”
A feature of the data showing the performance of commodities over 50 years that appears lost on those now allocating assets
illustrates the distinction made by Stephen Jay Gould in his book Full House between conflating the trends of a system with
the trends within a system. From the early 1950’s to the early 1970’s commodities prices oscillated, and were lower in 1972 in
nominal terms than they were in 1950. Prices then tripled over the next three years, then declined for a couple of years, then
spiked up in 1979 and 1980, and traded sideways for nearly twenty years before declining into the tech and telecom boom.
They have subsequently soared over the past 3 or 4 years.
The 50-year trend OF the system is indeed up at about the rate of equities—after this big move we have just experienced--
with minimal correlation, but that obscures the trends IN the system, which show 20+ years of returns that oscillate around
zero (depending on the index and the measurement period there are modest nominal returns that offer about a zero real rate),
followed by very sharp moves up to a new equilibrium level that is about 3x the old level, then a few decades of stasis.
Since the rally we are experiencing is already bigger and longer lasting than the one that kicked off the 70’s, it takes a determined
optimist to say that now is time to be putting money in commodities.

Bel
22-05-2006, 02:37 PM
it takes a determined
optimist to say that now is time to be putting money in commoditie

Or a person desperate for the market to match his prediction rather than going with the market and now selling.

The more things change the more they stay the same.

Halebop
22-05-2006, 02:56 PM
quote:Originally posted by Westie

...He seems to remember the boom of the 70's, although i was told never to trust anyone over the age of 30 :o)...

Hey that hurts! I'm over 30. True I'm not as good looking as Cooper, my fabulous looks started fading way back in the 90s, before you could track gold futures in real time from a wireless hand held device. But what I lack in looks I partially compensate for with goose hunting skills. Who would you rather have at your back? Huh? Huh?


quote:Originally posted by Westie

Blah blah blah something financial blah blah blah...
I note that, disappointingly, there is no mention of any avian species, goose-like or not, nor how they may influence future market trends. Makes me wonder if Miller is all he is cracked up to be really.....

There's something I don't like about that guy. Plenty of doom and gloom trying to talk down my diversified portfolio of unranium explorers but not a single mention of the Goose issue. Spooky how far their influence extends.


quote:Originally posted by Westie

Blah blah blah more financial stuff blah blah

So dammit after all that I should stick to financial assets and miss out on all those creamy iron ore profits?

Halebop
22-05-2006, 03:04 PM
The world is like the matrix. We aren't alone. There are people out there just like us. Found this image under the google image search "evil goose"... my hands a still shaking.

http://www.gain-online.com/blog/blog_images/IMG_8674.jpg

Westie
22-05-2006, 03:10 PM
quote:So dammit after all that I should stick to financial assets and miss out on all those creamy iron ore profits?


Not necessarily. You could invest with me in an ostrich farm in Albania. Risk free, guaranteed returns of 4000% in 1 year. I was introduced to the concept by a nice nigerian man who has been emailing me. Ostriches are nice birds that have none of the guile & malevolence associated with the goose. Although not all geese are bad mind you. Some of my best friends are geese. I'll have to say though, that ostriches aren't as cute as the duck, and only half as intelligent as an owl, but you can't win em all. Did i mention they are nicer than geese? and 4000% return in 1 year?

Halebop
22-05-2006, 03:18 PM
quote:Originally posted by Westie

Not necessarily. You could invest with me in an ostrich farm in Albania. Risk free, guaranteed returns of 4000% in 1 year. I was introduced to the concept by a nice nigerian man who has been emailing me. Ostriches are nice birds that have none of the guile & malevolence associated with the goose. Although not all geese are bad mind you. Some of my best friends are geese. I'll have to say though, that ostriches aren't as cute as the duck, and only half as intelligent as an owl, but you can't win em all. Did i mention they are nicer than geese? and 4000% return in 1 year?

Hmmmm. 4000% you say? What's the catch? According to GB my US denominated Christmas Savings account will soon be paying this sort of rate. Will I have to pay any tax on those earnings?

Ostriches do have nice smiles...

http://www.african-safari-journals.com/image-files/ostrich-pictures.jpg

(OK Coop, I admit it, just showing off my picture posting skills. Napoleon Dynamite was right. Women dig guys with skills).

Westie
22-05-2006, 03:19 PM
Just look at this goose, exuding the typical menace & arrogance we've become so used to seeing down at Western Springs.

http://thumbs.photo.net/photo/3980280-sm.jpg


Whereas, this.....well! need i say more! Who couldn't trust a face like this. The very definition of honesty & trustworthiness. Why wouldn't you want to invest with this fine speciman?

http://www.dafyd.me.uk/blog/docs/ostrich.jpg

Halebop
22-05-2006, 03:21 PM
Westie you show off!

Westie
22-05-2006, 03:27 PM
Sorry......just to clear up any confusion, the bottom picture is a photo of me, not an ostrich. 4000% i say!! tax free!!

Halebop
22-05-2006, 03:34 PM
Damn! You are much better looking than Cooper. Lucky bastage. I was never quite so genetically blessed. Not sure what sort of bird it is but everyone says I look like a dork. I've always imagined it was like a noble eagle or something...

Halebop
22-05-2006, 03:47 PM
Just read the Leg Mason article. I think I largely agree with him. My hunch is China will make a difference to some commodity consumption and keep prices above their previous subdued level. But things are feeling very speculative in the resources sector - which shouldn't really be surprising at this more advanced stage of a bull run.

Cooper
22-05-2006, 06:32 PM
I understand Ostriches and Geese once worked in conjunction with each other, working towards a better life for fowl everywhere. Then something happened, the memory of which has been lost, and Geese turned every other bird against the poor Ostriches using their typical machiavellian cunning. Nothing with a feather has ever had anything to do with the poor Ostrich ever since.

Thats right. They were ostrichsized.

See what I did there? Huh? HUH?

Cooper
22-05-2006, 06:38 PM
quote:Originally posted by Westie

My recent readings on economic cycles suggest that commodity price booms are the last stages of a bullish economic cycle & harken a recession. Unfortunately i'm too young to be able to offer much comment on the truth of this. You might find the latest Legg Mason fund's 1st quarter commentary, written by Bill Miller, interesting though. He seems to remember the boom of the 70's, although i was told never to trust anyone over the age of 30 :o)

I've pasted the link & an excerpt.
I note that, disappointingly, there is no mention of any avian species, goose-like or not, nor how they may influence future market trends. Makes me wonder if Miller is all he is cracked up to be really.....

http://www.leggmason.com/funds/knowledge/management/2006MillerCommentaryQ1.pdf


Are you saying Miller could be a quack? Or a quackpot?

Honk if you like fowl jokes.

I'm a little sceptical about anyone who draws a direct comparison between now and the seventies. Was just in time to get the end of that stunning decade. But the thing which differentiates now and the seventies, in terms of inflation, gold, stagflation... whatever, is that in the seventies people didn't have the seventies as a reference for what not to do.

It'd be a very optimistic individual who'd claim that some of the mistakes which were made in the seventies can't be replicated, but as most central banks and monetary systems were "re-tooled" as a direct result of the seventies, it'd be a very pessimistic individual who'd claim that the same thing(s) will happen again.

Cooper
22-05-2006, 06:39 PM
Good to have other people on this thread by the way. It was in danger of going to the birds.

Halebop
22-05-2006, 07:45 PM
quote:Originally posted by Cooper

...They were ostrichsized.

See what I did there? Huh? HUH?


That has to be the 17th... No 16th funniest thing I have ever read



...in this thread.

Halebop
22-05-2006, 07:56 PM
quote:Originally posted by Cooper

I'm a little sceptical about anyone who draws a direct comparison between now and the seventies. Was just in time to get the end of that stunning decade. But the thing which differentiates now and the seventies, in terms of inflation, gold, stagflation... whatever, is that in the seventies people didn't have the seventies as a reference for what not to do.

I should have some sort of emergency kit marked "In case of 70's break glass".

Halebop
22-05-2006, 07:59 PM
...It should contain platform shoes, a 'fro wig, big fat short tie and a copy of Lotus 123 on a 5 1/4 disk.

...I always loved that fortune magazine cover with the BeeGees. Boardrooms must have been ultra stylie back then.

Cooper
22-05-2006, 08:08 PM
quote:Originally posted by Halebop


quote:Originally posted by Cooper

I'm a little sceptical about anyone who draws a direct comparison between now and the seventies. Was just in time to get the end of that stunning decade. But the thing which differentiates now and the seventies, in terms of inflation, gold, stagflation... whatever, is that in the seventies people didn't have the seventies as a reference for what not to do.

I should have some sort of emergency kit marked "In case of 70's break glass".


Your wardrobe will suffice.

Cooper
22-05-2006, 08:10 PM
quote:Originally posted by Halebop

...It should contain platform shoes, a 'fro wig, big fat short tie and a copy of Lotus 123 on a 5 1/4 disk.

...I always loved that fortune magazine cover with the BeeGees. Boardrooms must have been ultra stylie back then.


I model myself on "shaft", which is quite an effort for a 5 ft 9 white guy.

Cooper
22-05-2006, 08:11 PM
....mostly because I'm a complicated man, and no-one understands me but my woman.

Cooper
22-05-2006, 08:12 PM
Although even she has blatantly stated "I don't understand you sometimes" after I've done something highly entertaining but of questionable maturity.

Cooper
22-05-2006, 08:13 PM
Like throw stuff at a Goose. While wearing an afro and platforms.

Cooper
22-05-2006, 08:15 PM
Damn the restraints that 60 second flood control rule puts on my attempts at humour. Damn it straight to hell.

Halebop
22-05-2006, 08:23 PM
quote:Originally posted by Cooper

....mostly because I'm a complicated man, and no-one understands me but my woman.


I'm out of the dating market these days. Can an inflatable doll really be classed as a woman? At least being a petroleum based polymer she might be an appreciating asset?

Halebop
22-05-2006, 08:26 PM
quote:Originally posted by Cooper

Your wardrobe will suffice.


That was really bloody rude. This wildly colorful shirt is 128% nylon you know. They can't even make nylon this thick any more.

Cooper
22-05-2006, 08:28 PM
quote:Originally posted by Halebop


quote:Originally posted by Cooper

....mostly because I'm a complicated man, and no-one understands me but my woman.


I'm out of the dating market these days. Can an inflatable doll really be classed as a woman? At least being a petroleum based polymer she might be an appreciating asset?


Is that the kind of inflation we were talking about? Why would you take an inflatable doll on a date? And finally, she isn't that much of a partner, but she gives a great massage. She's a good rubber.

Cooper
22-05-2006, 08:30 PM
quote:Originally posted by Halebop


quote:Originally posted by Cooper

Your wardrobe will suffice.


That was really bloody rude. This wildly colorful shirt is 128% nylon you know. They can't even make nylon this thick any more.


I thought it was the prospective buyer they couldn't make thick enough any more?

Cooper
22-05-2006, 08:49 PM
Who's the <s>black</s> white private dick
That's a sex machine to all the chicks?
COOP!
Ya damn right!

Who is the man that would risk his neck
For his brother man?
COOP!
Can you dig it?

Who's the cat that won't cop out
When there's danger all about?
COOP!
Right On!

They say this cat Coop is a bad mother
SHUT YOUR MOUTH!
I'm talkin' 'bout Coop.
THEN WE CAN DIG IT!

He's a complicated man
But no one understands him but his woman
COOP!

Cooper
22-05-2006, 08:51 PM
My preceding post had a reference to birds in it, it was from the seventies, and it deals with inflation (of the ego variety). Theres the relevance, right there.

Cooper
22-05-2006, 08:52 PM
quote:Originally posted by Cooper

Who's the <s>black</s> white private dick


I can be a dick in public as well though. I'm versatile in that regard.

Cooper
22-05-2006, 09:02 PM
quote:Originally posted by Halebop
http://www.gain-online.com/blog/blog_images/IMG_8674.jpg

Their evil is indeed insidious. Don't look at their eyes for long though. They hypnotize their prey into believing all sorts of crazy stuff.


I was hypnotised into believing I was a private detective from the seventies.

And cool.

Halebop
22-05-2006, 09:08 PM
quote:Originally posted by Cooper

I can be a dick in public as well though. I'm versatile in that regard.


That's a form of multi tasking but I'm not heading back there.

Cooper
22-05-2006, 09:08 PM
http://travel.u.nu/pic/my/5292-small.jpg

Ignorant no longer.

Halebop
22-05-2006, 09:10 PM
Clever bugger

Cooper
22-05-2006, 09:13 PM
http://www.briggsdaleschool.org/webdesign/kelby/Fat%20Cat.jpg

I told you I was handsome.

Halebop
22-05-2006, 09:48 PM
You drink Bud Light?

Westie
23-05-2006, 08:20 AM
This thread has really gone to the birds since i last posted. I don't know if i can beer to post here again.

No wonder coop has a thing against geese, they're all honkies!
Shut yo mouf honky!

http://www.lumiere.org/films/images/shaft.jpg


A picture of me in my only brief foray into movies. You don't get fly-er than a black vampire!

http://www.bcmanning.com/wordpress/images/BLACKULA.jpg

Cooper
23-05-2006, 07:33 PM
quote:Originally posted by Halebop

You drink Bud Light?


I don't empty it, I fill it. Do you know how inconvenient a bladder can be during a weekend of couch sitting?

Then I can go on to sell the filled bottle as premium light beer. Everyone wins!

Cooper
23-05-2006, 07:38 PM
quote:Originally posted by Westie

This thread has really gone to the birds since i last posted. I don't know if i can beer to post here again.


It was Halebop. He's a birdbrain. Gets himself into a flap about the rising price of money, feels he has to squawk about it to everyone, and then pecks the eyes out of everyone's posts. Best advice is to duck. He'll start swanning about like its his site soon, not that he hasn't already performed the "feet" of trapping us in his "web" of avian dysfunction. What a tit.

Halebop
23-05-2006, 07:39 PM
quote:Originally posted by Cooper

I don't empty it, I fill it. Do you know how inconvenient a bladder can be during a weekend of couch sitting?

Then I can go on to sell the filled bottle as premium light beer. Everyone wins!

Ah. I've only had Bud a couple of times. It must have been yours.

Cooper
23-05-2006, 07:41 PM
quote:Originally posted by Cooper


quote:Originally posted by Westie

This thread has really gone to the birds since i last posted. I don't know if i can beer to post here again.


What a tit.




As in the bird, of course. Not as in a booby. Which is also a bird, by the way.

Cooper
23-05-2006, 07:42 PM
quote:Originally posted by Halebop
Ah. I've only had Bud a couple of times. It must have been yours.


Did it taste like cat biscuits? If so, the odds are good it was from the Cooper batch.

Halebop
23-05-2006, 09:36 PM
...and there was me thinking Coopers were South Australian.

Cat biscuits? No. Cat p!ss? Yes. (No references to setting the cat amongst the pigeons please)

skinny
23-05-2006, 09:49 PM
quote:Originally posted by Halebop

I don't think there would be much threat in the concept at 6% but up around and over 8% would be getting more exciting.


Looks like you two have had fun.
I don't think the Fed is that far behind the [8]


http://www.worth1000.com/entries/202500/202579MsUQ_w.jpg

Westie
24-05-2006, 08:27 AM
quote:Originally posted by Cooper


quote:
--------------------------------------------------------------------------------
Originally posted by Westie

This thread has really gone to the birds since i last posted. I don't know if i can beer to post here again.

--------------------------------------------------------------------------------


What a tit.

As in the bird, of course. Not as in a booby. Which is also a bird, by the way.


Thanks for keeping me abreast Cooper.

Halebop
24-05-2006, 10:14 AM
quote:Originally posted by skinny

http://www.worth1000.com/entries/202500/202579MsUQ_w.jpg


Ostriches once had a valued position in society as indigo plantation owners and were widely praised for their firm but fair treatment of slaves.

Later a commercial dispute with the Geese was to precipitate the American Civil War and the rest, as they say, is history.

Halebop
24-05-2006, 10:15 AM
quote:Originally posted by aspex

Watch out for unseen traps

Nice kitty.