How come Italians don’t like Jehovah witnesses? They don’t like any witnesses!

Well they have plenty of witnesses now with Italy at breaking point, Greece in chaos prompting another global financial meltdown as Australian stocks plunge on Italy gloom. Again Ringing The Bell best summed it up when Charlie Aitken wrote “Italian equities intraday reversed sharply, while Italian bonds also came down in yield on well sourced stories about Italian Prime Minister Berlusconi stepping down in the near future. Berlusconi’s resignation would be the single best development that could happen to risk assets globally (and the single worst thing that could happen to 18yr old Italian women), with the fear that Italian default (third highest bond market in the world) being the only fear holding back equities globally from what could be a stellar Christmas rally. The Bunga Bunga rally”.

Here in Australia, we constantly hear and read about illegal arrivals on our shores so I was gobsmacked when I read Migrants blamed amid Greek debt crisis “Imagine an Australia where one in every 12 people on the streets was an asylum seeker or undocumented migrant. Some 6,879 people landed on our shores last year, but how would Australia border protection forces cope if 128,000 appeared over the horizon. This is precisely the situation now facing Greece. With an official population of just over 11 million (half that of Australia), Greece now hosts a staggering 1 million illegal immigrants and asylum seekers.”

So it would come as little surprise that IMF warns world economy at risk when European leaders called on China, which has the world’s largest foreign exchange reserves at $US3.2 trillion ($A3.09 trillion), to invest in the fund. Time will tell if China comes to that party!

One of your best Mr Mooney – shot yesterday afternoon The Lakes GC in all its glory and it looks absolutely sensational too!

BUY PRINT

Given Asia’s pace of growth slows, says RBA’s Lowe which should not come as a great surprise (unless you are in mining) that businesses should be bracing for a slowdown. In Australia, it is most evident today how corporate strategies for a slowing economy are now a very simple fact of life.

The attention in Australia has now shifted to the Reserve Bank of Australia (RBA) as our financial lifeguard in these stormy and turbulent waters. The cash rate was dropped on November 2 to 4.50 per cent so will the RBA match the February 4, 2009 rate of 3.00 per cent?

More rate cuts needed following lacklustre mortgage lending figures: HIA given the Westpac/Melbourne Institute Index of Consumer Sentiment increased by 6.3 per cent in November from 97.2 in October to 103.4 in November. So I was interested to note one rate cut not enough to help economy, but watch employment data: Macquarie the employment data sent a succinct message Australia’s jobless rate down to 5.2 per cent in October this showed a stark contrast to employment outlook in other countries.

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Home loans continue to rise which represents the number of home loans having risen for six straight months. This should come as no great surprise given these days we appear to focus more on the negative sentiment which more often than not, clouds judgement. A classic example is strong dollar not chasing foreigners away so let’s look at the Australian Bureau of Statistics (ABS) data.

• Sept 01 – 403,600
• Sept 02 – 405,100
• Sept 03 – 425,000
• Sept 04 – 439.500
• Sept 05 – 458,900
• Sept 06 – 462,500
• Sept 07 – 471,700
• Sept 08 – 454,700
• Sept 09 – 466,300
• Sept 10 – 500,200
• Sept 11 – 500,600

In September the $AUD dollar dropped to $US 0.94 and in 2001, it was $US0.48. Today, in Australia, it is more a case of the basic fundamentals of our economy remaining strong – for most obvious reasons.

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You will note that our rate cut and unemployment data point to housing recovery. This is evident with data this week revealing that for the first time in 2011, our home owners have finally come out to play. The number of houses on offer in Mosman jumped this week from 147 to 168 (the highest number recorded in 2011) and up over 100 per cent from the July 13, 2011 number of 80 houses.

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Apartments are also up significantly which would be based on the furphy that the NSW government will abolish the First Home Buyers Grant from January 1, 2012 – no legislation has been passed so it won’t happen!

MOSMAN – 2088

• Number of houses on the market last week – 147
• Number of houses on the market this week – 168
• Number of apartments on the market last week – 110
• Number of apartments on the market this week – 138

CREMORNE – 2090

• Number of houses on the market last week – 16
• Number of houses on the market this week – 21
• Number of apartments on the market last week – 35
• Number of apartments on the market this week – 44

NEUTRAL BAY – 2089

• Number of houses on the market last week – 18
• Number of houses on the market this week – 21
• Number of apartments on the market last week – 98
• Number of apartments on the market this week – 136

For this week’s sales in Mosman real estate, Beauty Point real estate, Clifton Gardens real estate, Balmoral real estate, Cremorne real estate, Cremorne Point real estate, Neutral Bay real estate, Cammeray real estate – Click Here

For this week’s open for inspections – Click Here

So back to Mamma Mia – the volume is turned up and to Greece and Italy the lyrics say “I’ve been cheated by you since I don’t know when. So I made up my mind, it must come to an end”.

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Look at me now – and I’m not talking about the Bunga Bunga parties either!

By the way, we also had the carbon tax passes the Senate this week so Socialism is alive and well in Australia. Just imagine the promises at the next election: no income tax payable and the national anthem will be Mamma Mia.

Cheers ^__^

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11.11.11Robert Simeon3 Comments »

Another mad week in Australia with Qantas (Queer And Nasty Try Another Service) shutting down all operations to create a massive spat with allegations that the government ignored warnings about Qantas grounding: Alan Joyce. We then heard that Qantas CEO Alan Joyce made a phone call to PM Julia Gillard but was ignored. This became all the more ironic when the PM made an urgent call recently to a fourteen year old boy who was arrested recently for buying marijuana in Bali. So Labor’s Fair Work Act has sent a signal that unions are on the way back prompting a savage rebuke with business to fight union Fair Work ‘wishlist’. Now we shall watch and see whether Qantas should compete or die – I think the latter.

Then we had news of a Greek referendum plan plunges markets into chaos prompting European leaders confront Greek PM. It will take Greece more than a few generations to recover from its debt debacle so it makes sense to see them booted from the Eurozone. I thought Charlie Aitken best summed it up when he wrote this week on his blog Ringing The Bell – “The Greeks need to remember they lied their way into the EU, they cheated with the help of Goldman’s to stay in the EU, and now the world is helping them stay in the EU. I strongly suspect the rest of the world won’t put up with any more rubbish from them and hopefully in six months time we won’t have a peripheral fishing hamlet running daily global financial market sentiment.” Touché!

BUY PRINT

It must have been a full moon this week with a November coup plotted on Julia Gillard – pressure on Kevin Rudd to push for top job. This gained further momentum with Kevin Rudd fuels leadership talk by failing to voice support for planned pokies reforms which has the federal Labor on another a hiding to nothing. Australians were then aghast to learn that Julia Gillard vows to double money to IMF – Ms Gillard will tell a session on reform of the IMF that Australia will double its special drawing rights (SDRs) quota – from SDR 3.3 billion (about $5.3 billion) to SDR 6.6 billion (about $10.6 billion). Australia has the most notorious government that thrives on giving other people’s money away.

Then we had some good news as the Reserve Bank of Australia (RBA) cuts interest rates to brace economy facing global headwinds with the cash rate dropping from 4.75 per cent to 4.50 per cent. This was the first cut in official interest rates since the global financial crisis (GFC) 2 ½ years ago and follows rises in unemployment and sharp falls in the prices of key resource exports. In 2012, I predict that the cash rate will end up at around 3.50 per cent so the RBA still has another 1.00 per cent to play with – which is great news for our property markets. For our top end markets to start punching above their weight again, we would need to see our ASX All Ordinaries Index at greater than 5,000 today it is 4,267.6.

The September update for Australia’s official house price index was released this week, indicating that house prices in Australia have continued to fall for nine consecutive months. The weighted average of the eight capital cities fell 1.2 per cent in the last quarter according to the Australian Bureau of Statistics (ABS).

It’s a very hard property market to pinpoint at the moment, with conditions appearing more reminiscent of the housing market in the early 1990’s (better known as “the recession we had to have”). From the above graph you will observe that for the last thirty years, Australian households have recorded record debt. It is somewhat ironic that in the recession of the early 1990’s, the cash rate was at 17.5 per cent where today it stands at 4.50 per cent. There is a dramatic upward trending from 2001 to 2010 although it should be noted the significant debt pay down during the GFC.

The great Australian rental inflation: Christopher Joye “There is a lot of talk about house prices in Australia. We hear much less about rental costs. Importantly for the inflation debate, house prices, which tell us the cost of buying an asset (namely a home), are not included in the ABS measures of inflation. However, the costs of securing accommodation in this country – that is, rents – are naturally a key component of the inflation data. Indeed, rents alone make up 6.7 per cent of the overall inflation index.” This can be explained by the data release that NSW leads revival of first – home buyer market – and the fix is on: AFG. The first home buyer market, compared to one year ago, is up 40 per cent, with NSW leading the charge. Rental escalations are driving the surge into property ownership.

Interesting to observe that new listings for Mosman houses (may) have peaked for 2011, with the number of houses on the market increasing by just one, from last week. More importantly, will the RBA’s cash rate move resonate with purchasers that the cash rate is on the way down and property prices have now technically bottomed? It would be refreshing to think so, although I hasten to add that real estate has never been an exact science. Residential real estate is an emotional acquisition although many have confused the transaction by applying a commercial formula with price determination.

MOSMAN – 2088

• Number of houses on the market last week – 148
• Number of houses on the market this week – 147
• Number of apartments on the market last week – 103
• Number of apartments on the market this week – 110

CREMORNE – 2090

• Number of houses on the market last week – 18
• Number of houses on the market this week – 16
• Number of apartments on the market last week – 34
• Number of apartments on the market this week – 35

NEUTRAL BAY – 2089

• Number of houses on the market last week – 18
• Number of houses on the market this week – 18
• Number of apartments on the market last week – 92
• Number of apartments on the market this week – 98

For this week’s sales in Mosman real estate, Beauty Point real estate, Clifton Gardens real estate, Balmoral real estate, Cremorne real estate, Cremorne Point real estate, Neutral Bay real estate, Cammeray real estate - Click Here For this weeks open for inspections – Click Here

So has the tide turned? When will the All Ords climb back over 5,000 again? It will happen and we all know what happens to property prices then. Buyers are knocking opportunity instead of seeing that opportunity knocks!

What confuses the issue further is that everyone, for some strange reason, wants to buy in a vendor’s market yet are reluctant to engage in a purchaser’s market. Go figure?

Cheers ^__^

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4.11.11Robert Simeon1 Comment »

Finally the EU leaders reach deal on bailout fund where the big banks will be forced to take a fifty per cent haircut on Greek Bond holdings. The Eurozone bailout fund will be leveraged to 1 trillion euros under deals thrashed out by the continent’s leaders during all night talks in Brussels. We are now nearing the end of October 2011, yet European leaders registered their concerns on the rise of sovereign debt in France, Ireland and Greece in April 2009. That’s 31 months ago!! Greece currently has a debt of 350 billion euro ($466 billion) and this deal will allow Greece to reduce its debt by 100 billion euros ($133 billion).

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One blog comment I read summed up the European crisis “The countries that have suffered do have one thing in common (Iceland, Italy, Greece, The US all have this): a desire to have first – world services and a first – world infrastructure, but without paying first – world taxes for them. Consequently, it’s been politically unviable to either raise taxes because people think they can maintain their current levels of govt service and infrastructure by cutting around the edges in welfare. Or, accept a lower grade of service/infrastructure because they’ve been told that they can have a low tax without actually cutting any serious expenditure. Hence, irreversible deficit and exploding debt. I’m not a fan of the GST, but I’ll agree that it did the job it was supposed to do – it created a large body of tax revenue that isn’t under constant political pressure to be cut, protecting Australia from the disastrous belief that you can have something for nothing and just cut taxes each election without harming the national infrastructure.”

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.BUY PRINT

The world’s greatest treasurer Wayne Swan says households still doing it tough– the man is a genius! The consumer price index (CPI) rose by 0.6 per cent in the September quarter, for an annual rate of 3.5 per cent. The average of the Reserve Bank of Australia (RBA) trimmed mean and weighted median inflation measure was a 0.3 per cent rise in the quarter for an annual rate of 2.45 per cent.

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Macquarie Economics Research offered the following commentary.

• Headline consumer prices rose by 0.6% in Q3, but the Reserve Bank‘s preferred measure of underlying increased by just 0.3%QoQ.
• Looking in more detail at the sectoral drivers of inflation in Q3 it is now clear that we are starting to see the sharp rise in fresh food prices after the Queensland and Victoria floods. Overall, food prices fell by 0.2% in Q33, but are still 6.4% higher than a year ago. Fruit prices are still 64% higher than a year ago. Clearly, food prices will fall much further in 4Q11 and 1Q12. Health care prices were the other broad category to record a decline in prices, but this was consistent with similar falls in Q3 in 2010 and 2009.
• On the flipside, the much discussed surge in utilities bills certainly came through as expected. Together with the lift in local government rates and another solid rise in rents (up 1.2%QoQ and 4.6%YoY) this meant that overall housing costs increased by 1.9%. Of course, as utility bills only increase once a year, this component should record a much more modest rise in Q4.

This would explain carbon tax opposition grows: Newspoll where opposition to the tax jumped six per cent to 59 per cent and support for the tax has fallen four points, to 32 per cent.

More Sydney home owners and renters in housing stress than any other capital – Sydney has the highest number of renters as well as the highest percentage of mortgage holders at risk of falling into poverty. More than 106,000 people who rent in Sydney face difficulties meeting the basic cost of living, according to Housing Costs through the Roof a report compiled by the National Centre for Social and Economic Modelling at the University of Canberra on behalf of Australians for Affordable Housing.

Brisbane wins housing race to the bottom as the national medium home price has now fallen for five successive quarters. Grey clouds gather over housing market although the good news is that Sydney house prices to recover from next year: ANZ.

Property buyers should factor in – it’s a boom, baby, as births hit a new record Australian women have rewritten the history books by giving birth to 297,900 babies last year, a new national record, the Australian Bureau of Statistics (ABS) reports. On the flipside we have apartment construction to slump in 2012: Industry survey. Turnover generated from the construction of new apartments grew by 2% for the 2010-11 year, but forecasts to fall by 1.2% over 2011-12 before picking up by 4.8% over 2012-13. So rents will continue to climb through the roof which explains why the Gillard government refuses point blank to address housing affordability.

NSW in slow lane of new economy a study by the National Centre for Social and Economic Modelling shows that one in ten Australian households – 850,000 – spend so much on rent or mortgage payments they have little left over for other bills. A rate cut won’t rescue the market so I (yes a real estate agent) don’t believe that the RBA should cut the cash rate when they meet on Melbourne Cup day. Such a move would send a negative message that our economy is trending downwards and that would severely impact consumer confidence. We have to toughen up and not rely on artificial stimulation.

Yesterday we saw the ASX incur four hours offline, due to a computer glitch which when resolved at 2.00pm saw our markets close up two per cent higher due to the European announcement of Greece’s bailout.

MOSMAN – 2088

• Number of houses on the market last week – 133

• Number of houses on the market this week – 148

• Number of apartments on the market last week – 86

• Number of apartments on the market this week – 103

CREMORNE – 2090

• Number of houses on the market last week – 15

• Number of houses on the market this week – 18

• Number of apartments on the market last week – 36

• Number of apartments on the market this week – 34

NEUTRAL BAY – 2089

• Number of houses on the market last week – 17

• Number of houses on the market this week – 18

• Number of apartments on the market last week – 83

• Number of apartments on the market this week – 92

For this week’s sales in Mosman real estate, Beauty Point real estate, Clifton Gardens real estate, Balmoral real estate, Cremorne real estate, Cremorne Point real estate, Neutral Bay real estate, Cammeray real estate - Click Here

Listings in Mosman peaked this week and should we see this number reduce in the run up Christmas, then market forces are engaging. If not, this will definitely happen in 2012. The next six week’s will be most revealing.

Cheers ^__^

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28.10.11Robert Simeon5 Comments »

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The economic roller coaster was travelling at high speed this week with the “shock market” at a three year high share price surge adds $42b to market’s value. For the moment, it would appear (based on these results) that the much awaited consumer ‘ring of confidence’ is again smiling on these markets. Despite a focus on financial markets it was refreshing to note that Sydney’s still as safe as houses where data has revealed that the toughest residential market in Australia is still the best performing city over the past year. Compared to the rest of the capital cities, RP Data Rismark reported that property prices in Sydney actually increased 0.3 per cent in the year ending August.

It should be emphasised that most Australians read more into bad news which clearly overshadows those ‘good news weeks’. The 2010 General Social Survey found that 78 per cent of Australians were satisfied, 43 per cent reported being pleased or delighted with their lives, while 34 per cent gave a more moderate appraisal, saying they were ‘mostly satisfied’. Based on that assumption, we can then conclude that most Aussies are satisfied with their lives.

Alan Kohler was succinct when he wrote on Business Spectator – Flagging down a recession “Markets are falling now because the US, and probably the world, is tipping into recession once again.” Why? “That’s because a recession “isn’t just a statistical event. It’s a vicious cycle that must run its course.” Australia has caught a cold from what’s happening in the US and Europe – not pneumonia! Although we should be constantly reminded that we live in a society based on excuses.

BUY PRINT

To be expected RBA extends rate pause although more interesting was the Statement by Glenn Stevens, Governor: Monetary Policy decision which signals Reserve puts rate cut on the menu. I doubt very much that this will happen when they next meet on Melbourne Cup day, given a clear indication that for the moment, they are keeping their powder dry. Our banks remain strong and the Australian Prudential Regulation Authority (APRA) showed that $27 billion in deposits were channelled into our banking system in August. Cash deposits swell amid global worries and the entire system saw a two per cent lift in deposits to $1.42 trillion.

One should never let the facts get in the way of a good story – too many people and not enough houses. Despite a collapse in Sydney’s housing affordability in 2010, due to a 20 per cent increase in house prices in eighteen months and seven increases in interest rates, Sydney is leading the nation’s housing recovery as demand pressures continue to intensify. A crash in property prices? Don’t bet on it so it is now time for Sydney to shed its housing funk. At this juncture, I would add that our Mosman market remains healthy, wealthy and buyers not wise as it will be going up not down. Unlike the US – when you buy a house you don’t get another one free!

We read with great sadness yesterday, about the passing of Steve Jobs: the man who changed the way we live. I’m also a tragic admirer, so it was understandable that mourners flood websites, social media with tributes to Steve Jobs. His death provoked the biggest online reaction of any in recent history with Twitter figures expected to come in at 10,000 tweets per second. To put this into context, the Japan earthquake and tsunami in March recorded 5,530 tweets per second and the British royal wedding recorded 3,966 tweets per second. I read two notable comments about Steve Jobs – the best Twitter comment “RIP Steve Jobs. You left your mark on our desks, on our ears and in our hands.” And “Jobs concerned himself with making computers work the way people expected them to rather than making people learn how the computer wanted them to work.” Which takes me to why the Gillard governments NBN roll – out will be a dismal failure.

Source: Australian Bureau of Statistics

The Australian Bureau of Statistics released the latest June 2011 internet activity revealing:

• At the end of June 2011, there were 10.9 million internet subscribers in Australia (excluding internet connections through mobile handsets). This represents annual growth of 14.8% and an increase of 4.4% since the end of December 2010.
• The phasing out of dial – up continued with 95% of internet connections being broadband. Australians continued to access increasingly faster download speeds, with 87% of access connections offering a download speed of 1.5 Mbps or greater.
• Mobile wireless internet (excluding mobile handset) connections (44%) now exceed Digital Subscriber Line (DSL) connections (41%) in Australia. Mobile wireless (excluding mobile handset connections) was the fastest growing internet access technology in actual numbers, increasing from 4.2 million in December 2010 to 4.8 million in June 2011.

So Julia Gillard wants to persist with underground fibre – optic cable installations? I will be writing an article on Property Observer to be published next Monday about this taxpayer catastrophe which is fast looking like Australia’s all time greatest waste at $50 billion plus.

Mosman house vendors are ever so gradually testing the market again with the number of new properties (houses) entering the market this week, increasing by 8.5 per cent.

MOSMAN – 2088

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• Number of houses on the market last week – 106
• Number of houses on the market this week – 115
• Number of apartments on the market last week – 83
• Number of apartments on the market this week – 78

CREMORNE – 2090

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• Number of houses on the market last week – 15
• Number of houses on the market this week – 16
• Number of apartments on the market last week – 36
• Number of apartments on the market this week – 34

NEUTRAL BAY – 2089

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• Number of houses on the market last week – 16
• Number of houses on the market this week – 15
• Number of apartments on the market last week – 76
• Number of apartments on the market this week – 80

For this week’s sales in Mosman real estate, Beauty Point real estate, Clifton Gardens real estate, Balmoral real estate, Cremorne real estate, Cremorne Point real estate, Neutral Bay real estate, Cammeray real estate Click Here

You can put your house on the NBN being an abysmal failure – so it is understandable that the Government will be the most surprised. Telstra’s new 4G network is boasting internet speeds 25x faster than the 3G so the NBN roll –out is fast looking like Australia’s greatest ever tax payer debacle.

Cheers ^__^

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7.10.11Robert Simeon9 Comments »

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That proverbial property fence is about to get a whole lot lighter because this week in real estate is good news week! Thus far in 2011, the Mosman house market has erred on the side of caution with historically low property offerings, but is this about to change? Let’s analyse this week’s announcements, bearing in mind that since the global financial crisis (GFC) in 2008 our property markets have been in self–imposed hibernation.

This week, the Reserve Bank of Australia (RBA) decided to leave the cash rate at 4.75 per cent. Here is the Statement by Glenn Stevens, Governor: Monetary Policy Decision. Then the big news announcement that Australia’s gross domestic product (GDP) rose by 1.2 per cent which clearly shows that the summer floods and storms seriously impacted our two biggest export commodities – iron ore and coal. The strong National Accounts position also means that the federal government will not be able to use this as an excuse for not returning the budget deficit back to surplus. A better than expected result as the economy returns to growth in the June quarter so the September quarter should post a positive GDP result also.

Just as interesting as the GDP jumps ahead of market forecasts as consumer spending rises was a revealing survey: more cash, struggling to pay for basics, but spending more on fun. Further evidence this week – RBA graphs highlight growing savings culture where the growing trend of households is to save more and reduce debt. Despite market bets on rate cut the RBA continues to play a waiting game this cautious outlook may help contain inflation.

BUY PRINT

Australia’s unemployment rate rose in August, to 5.3 per cent (the highest level in a year) up from 5.1 per cent in July. Rising unemployment builds case for RBA to cut interest rates given the GDP results the rise in unemployment actually means that the economy is slowing. The September unemployment figures will actually show if this is trending and I suspect that unemployment will continue to rise due to the inherent problems in retail and manufacturing.

This will place the RBA under extreme pressure to lower the cash rate and it will be interesting to see if the banks, this time around, follow suit or play hard ball again? I would expect that this time, (if the following graph is any indication), they will all be singing from the same hymn book

What is interesting is that when the RBA met over cucumber sandwiches in August, there was strong argument to increase the cash rate. One month later, it has acknowledged that the global outlook is deteriorating and Australia will feel it down the track. The September quarter GDP results may tell a completely different story to that of the June quarter? Just as confusing prices fall for first time in two years where on an annual basis, inflation rose by 2.9 per cent in August, slowing from the 3.2 per cent in July.

Sydney house sales slow but steady before expected late spring uptake which is an expected, given the recent ‘shock’ market capitulations last month. We also share the opinion that the spring market set to bloom late so we expect the Mosman market to step up and step out in September, October, November and December. The telltale factor will be an easy observation – just watch the stock levels!  We expect to see a week on week growth through to Christmas. I would have to agree that the economy and housing markets are stronger than you think although households are still concerned about ‘that’ stench – Rio Tinto warns Gillard over carbon tax.

MOSMAN – 2088

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• Number of houses on the market last week – 107
• Number of houses on the market this week – 115
• Number of apartments on the market last week – 93
• Number of apartments on the market this week – 91

CREMORNE – 2090

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• Number of houses on the market last week – 14
• Number of houses on the market this week – 14
• Number of apartments on the market last week – 31
• Number of apartments on the market this week – 34

NEUTRAL BAY – 2089

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• Number of houses on the market last week – 9
• Number of houses on the market this week – 13
• Number of apartments on the market last week – 67
• Number of apartments on the market this week – 79

For this week’s sales in Mosman real estate, Beauty Point real estate, Clifton Gardens real estate, Balmoral real estate, Cremorne real estate, Cremorne Point real estate, Neutral Bay real estate, Cammeray real estate Click Here It is interesting to note from the past week’s activity that anecdotal sales evidence keeps growing as against declining.

The Australian – Bill Leak

Another diabolical week for Julia Gillard and her Fort Fumble with voter satisfaction plunging: Gillard’s support dives to new low. The obvious was stated in that only a miracle can save Julia Gillard as Labor moves on to the main game: who’s next? Stockbroker Charlie Aitken stepped up his attack on Julia Gillard by forecasting that the Australian equities market would rally by ten per cent if the Prime Minister was rolled.  I reported a few editions back, that Julia Gillard has until Christmas to turn her popularity around and I stand by that!

Cheers ^__^

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