Two Month Point

Today and yesterday involved busy days at my internship near Martin Place in Sydney.

Martin Place 1924Martin Place modern-day

The Australian guys I work with were interested in my opinion on the QE3 program recently undertaken by the Fed to prop up the economy. Ironically, I think that my opinion seems to be more negative than their own, about these sorts of policy initiatives. Either way, the policy will only make my dollar worth less during my time abroad, thanks Mr. Bernanke. It's also interesting that Australia's current interest rates are around 3.5% whereas current US rates are near zero and yet the US is considered riskier based on the ratings agencies as a borrower. The US bonds themselves have become a "greater fool game," with the only reason to buy them is someone else will pay a little more for them. 

One of the books I am reading now, Reminiscences of a Stock Operator (an old book from the 1920s/30s era) mentions Saratoga Springs, which is actually where the central character (Jesse Livermore, a real person) was visiting during a turning point in his career. Some of the city's history, including tidbits about William Travers, the Grand Union Hotel, and the racetrack are mentioned as well. Brings me back to my senior year in high school in Mr. Patterson's local history class.

I wrapped up the evening with some baseball practice, boxing training, and more kangaroo of course. This time in sausage form.

Tonight's dinner; "Kanga Bangas"

I have now been in the land of kangaroos and koalas for two months, which is hard for me to believe. I am also fast approaching my trip to Cairns during the school break on the week of September 24.