Posts by Rob Hosking
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I would add: "Bury deceased family pets".
And come up with convincing lies about how Floppy Muffkins died, because you accidentally backed the trailer over it.
VERY surprised mending a fuse isn't anywhere on the lists.
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Must be Thursday...
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Have to admire the surrealism of the underlying metaphor.
You Bugger. The origin of that line has been bugging me all day, because I knew I should know it. Eureka moment walking up Mt Vic this arvo.
Good ol' Vogon Poetry.
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A friend of mine back in high school had a name for the projecting confidence thing: walk around pretending you're a turkey.
Excellent. So you pour a jar of cranberry sauce over your bonce and suddenly its babe magnet time.
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is Filament in fact the *least* sexy word in the English language?
It would have to be WAAAYYY behind words like 'infrastructure' or 'depreciation' or 'polypropelene'.
I actually had the opposite response - what a great name. Nothing to do with the actual meaning, all to do with the way the consonants play together.
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Wow. You guys must really be into some Sting-and-Trudie Tantric-sex type stuff.
Nah, mate, that's too weird. But if you concentrate on thinking of your top All Black team of the 1970s you can make it last six whole minutes.
Any longer though the tea gets cold.
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I would hope that diversification would mean that the Cullen Fund wasn't just investing in stock markets, as they all tend to fall over at the same time.
NO they don't. If they had. we wouldn't be discussing the Nikkei having been so bad for so long while other equity markets boomed.
They have done, recently, but this hasn't happened since the '30s. Even '87 wasn't universal...(and most recovered quite quickly, although of course ours didn't).
But on your wider point...yep the Cullen fund doesn't just invest in stock markets. 50% of it is currently invested in global equities.
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And furthermore, even if you have a paper loss on the current house, why wouldn't you buy another one?
You might if you had the money to do so. But if your income was dropping, and you had other demands on it, I doubt you would.
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Rich: The press release said just that. Which is why I didn't use it.
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Adding to what Gary said... 1.5% increase on current interest rates if we get a credit downgrade, because we're a bigger risk. On our current debt level, that's about $3.75 billion a year in extra interest payments, by govt, businesses and households. Depending on which GDP measure you want to use, that's around 2% of GDP.
A lot of the commentary around the credit downgrade issue infantile and petulant, often from people who should know better.