SPECULATION is rife that our Reserve Bank will lower the official cash rate a couple more times as this is seen as a direct stimulus measure to assist our flagging economy.
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If the Federal Government provides a meaningful cash stimulus, this will affect its hard-won balanced budget.
A glance towards Germany sees a cash rate of minus 0.32 per cent and Austria has 100-year government bonds at 1.2 per cent.
To top this tale, The Wall Street Journal reports a couple in Denmark with a loan equal to $800,000 Australian, at minus 0.05 per cent interest, are paid an amount by their bank every month.
We are living in intriguing times.
Be patient
THE Prime Minister's drought summit in Dubbo last week brought many affected groups together and probable strategies were outlined and discussed.
Everyone can see the light at tunnel's end, but none can guess at the length of the tunnel.
Drought conditions have continued for so long that even the hardiest of farm families must find it hard to rise and shine every morning.
This drought now compares with the Federation drought of the turn of the 1800 to 1900s that caused grief to our early settlers and the 1940s NSW drought, whose survivors often told me "we didn't think it would ever rain again".
But rain it did, in river-fulls in the 1950s. So never, ever give up, because Mother Nature always evens up the score.
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On the road
TONIGHT brings Australia All Over's Macca's drought support to Quirindi and tomorrow night to Coonabarabran, plus Coona races on Saturday, all with free admission, and all to show support for farming families and the town businesses that service them.
The organisers at Coonabarabran races have planned for every race-goer to be on the track between races four and five to take part in a rain dance which should bring lots of laughs and probably a flood in the Castlereagh.
Remember when a church community had prayers for rain at a public venue and crowds turned up to be involved? Would prayers draw a crowd in 2019?
Will be missed
SINCERE sympathy is offered to Alan Peterson of Rocket Street, Bathurst on the recent passing of his wife Daphne.
They were land owners of a lovely block of grazing country at Glanmire.
Daphne was a frontline nursing sister at the old St Vincent's Hospital and Alan was a motor mechanic at his own business in George and William streets. Many Bathurst residents will greatly miss Daphne.
Don't forget
BACK to the everyday happenings in country life and we see that the Bathurst Ram Expo and Working Dog auction is close at hand on Saturday, August 10.
A good number of stud and commercial sheep will be on display as well as entrants in the Super Six Competition for young Merino ewe teams.
Junior sheep judging will involve impressive numbers of interested young people and good prizes are on offer.
The Bowyer and Livermore dog auction will again draw the most interest as dogs give a demonstration of their ability with a small mob of sheep before the auction.
The ram expo is a quiet country event and a good chance to see friends that you don't often see.
Worth a read
THE Land's Angus cattle supplement was included in last week's newspaper and is a top quality glossy publication, full of tales of successful commercial Angus breeders and including plenty of ads for leading Angus studs.
Some of our district studs are right at the forefront of the nation's stud breeders and they are recognised across the Commonwealth and, in at least one instance, internationally.
Sales' tales
REPORTS from cattle auctions at Roma and Gunnedah are supporting the theory that "the wheel is finally turning nicely" for most classes of trade cattle, as processors and possible restockers have realised that cattle numbers across the nation are at historically low levels.
Very few landholders in our district are climbing the rails to buy cattle at auction sales, but we know that a real drought break would make all livestock expensive to buy.
Laugh lines
THEY sat on the farmhouse verandah and talked of their happy 53 years together.
"But sadly, dear, one of us must pass on," he said. "Do you think of that sometimes?"
"Of course I do, George," she replied, "and I think I'll get a modern little apartment at Manly."
***
THE ad read: Wanted: new young secretary with typing ability; must have no bad habits but be willing to learn.
***
"Your hearing has gotten much worse; and I want you to give up liquor, tobacco and sex," the doctor said.
"What?" George shouted, "just so I can hear better?"
