Of course I've been bearish on the AUD for a while now and continue to be worried about slowing tax receipts and a government unable to make cuts in social policy infrastructure, Having said that the comparative yield advantages and lack of debt stress make it hard to see a major fall in the currency before the new year. At least a high AUD makes it easier for the Australian public to turn to online shopping to escape the various duopolies that dominate the retail sectors:
|Follow the leader? Maybe yes, maybe not so fast?|
I noticed that shipping giant AP Moeller-Maersk CEO Nils Anderson told the FT that his group will not be investing significant amounts in the container shipping business during the next 5 years. They prefer to concerntrate on oil rigs and ports. Mr. Anderson told the FT that . . . "we have sufficient capacity to grow in line with the market." That to me sounds like someone is not willing to bet on a global pick-up. I obviously hope he's wrong.
I buy a lot of my bike equipment online. Even with priority shipping to Sydney I often find that I get what I want quicker and at a lower price. Where it makes sense I support my favorite local bike shop, but because of their size they can't carry everything in stock and often are forced to wait a considerable amount of time for something I can get easily from some of the European mega bike shops.
Their were some splendid bikes here on the road yesterday. I particularly liked the Giant TCR Advance SLR that I saw when I stopped for a breather at Little Bay yesterday.