Friday is go.
1. The cost of building or renovating keeps going up. And Australian households are borrowing too much to stay in the real estate game, so news the construction industry just won a 15% pay rise – 2.5% every six months for three years – is alarming on that front alone. But it also shows how the RBA rate cuts are achieving bugger-all besides fueling the housing and construction industry. Here’s Greg McKenna on why that means another rate cut is probably some way off.
2. Kim Kardashian turned blonde overnight. The world went mad.
3. In Asia yesterday, the reset of growth in China seemed to weigh on the Shanghai and Hong Kong stock exchanges, which both fell heavily. The growth rate target of “approximately 7%” would be the lowest growth rate this century. Interestingly, Bloomberg reported yesterday Cao Yang, a Shanghai-based senior analyst at Shanghai Pudong Development Bank said: “The lower target may indicate less broad-based, aggressive easing measures than what the market expected previously.” Is that a headwind for the Chinese exchanges?
4. The US dollar was in the ascendancy and the Aussie dollar was dragged along, and lower, for the ride. It’s at 0.7769 and traders will be watching the 0.7725/35 region in trade today if it slips that low.
5. On the data front today, we get the AiGroup’s performance of construction index at 9.30am in Australia while Japan will release its coincident and leading indices.
6. Barely any female animal survives menopause. There’s humans, killer whales and some other type of whale. Basically, nature – being cruel as it is – feels post-menopausal women have outlived their usefulness. But killer whales live long after The Change, and go on to become pack leaders, according to some pretty amazing new research. They “transfer ecological knowledge” such as teaching the younger whales how to find salmon grounds and occupy highly-respected positions. Happy International Women’s Day.
7. Science! It’s been doing great things for years now, but 2015 is shaping up as a proper daisy. We’ve already got the first new antiobiotic in decades, found a black hole 12 billion times more massive than our Sun, and found a way to push atoms along at the speed of light (oh yes). There’s 17 more great discoveries this year already where they came from but they don’t include this laser etching on a human hair, so we’ll drop it here for you:
8. You’re not going to get rich overnight. Basically no self-made millionaire actually gets there by the time they’re 40; we all just think so because we’re programmed to worry about how well off everyone else is. But Thomas C Corley shared the findings from his Rich Habits Study and here’s the breakdown:
- 1% became wealthy before the age of 40
- 3% became wealthy between age 40 and 55
- 16% became wealthy between age 46 and 50
- 28% became wealthy between age 51 and 55
- 31% became wealthy between age 56 and 60
- 21% became wealthy after the age of 60
9. So anyway, here’s one guy who did it easily by the time he was 24. Mike Henkel dropped out of college after only two years, got his real estate licence in only eight days and, two weeks later, he bought a $US60,000 condo with the $US10,000 in his bank account and rented the bedrooms to mates. By 2013, he was able to buy two lots of 15 units. Here’s how he’s now living the dream.
10. Charisma is a handy trait to have, but it’s not necessarily something you’re born with. Olivia Fox Cobane, author of “The Charisma Myth”, has found nine proven strategies to help you learn how to influence those around you, and shared them with us right here.
BONUS ITEM: “Oh my gosh I did not know they could do that.”
Have a great weekend. I’m on Twitter, occasionally.
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