"Liquid Gold" Whisky on a Tear
"According to the Rare Whisky Top 1000 index, launched on Thursday, the 1,000 most collectable Scotch whiskies have gained 203% in value since December 31, 2008, to the end of June this year."
"Savers are still paying up to 2.6% on MySuper retirement products, despite them being promoted as low cost, no-frills investment options."
"The official Xinhua News Agency published at least eight articles this week advocating equity investing after similar stories appeared in the People's Daily newspaper and on state-run television last month, part of what Everbright Securities Co. says is an increased government push to bolster the market.
"Authorities have also cut trading fees, made it cheaper to open new accounts and organized investor presentations by the biggest listed banks in the past two weeks."
"This is part of China's overall plan to expand its capital market in equities, bond, derivatives and other products. You have no doubt heard about all the fear of a credit blowout in China. Well, this is part of the answer to that problem. This will allow Chinese companies and governments to diversify away from banking lending and the primary credit market. It's going to make capital pricing more efficient, and it will enable better liquidity."