Quantitative easing or just printing money?

So we have just been through a period of quantitative easing but what does it all mean? Quantitative easing is considered an unconventional monetary policy, or at least new, to lower interest rates and increase money supply.

So the central bank creates electronic money to purchase government bonds from the secondary market, as this creates buying demand the price of the bond should rise in accordance with the principles of supply and demand. Naturally, this distorts the natural equilibrium of the free market creating an oversupply of capital. 

So far we haven't seen the effects of inflation and we need to ask why? Have the central banks managed the process to such a fine degree that they avoided the old issue of inflation? The core issue during the global financial crisis was liquidity and business lending, as the banks held onto cash with business activity curtailed. 

QE provided the required liquidity and flooded the bond market with cash. The growth of money didn't appear to affect the  markets, well not yet anyway and may just push the problem out. This is what we are finding out now, I was told they will be no world growth for the foreseeable future, just the growth of money and that is what we are seeing.  

Classic Heuer chronographs

I love old Heuer timepieces, whilst I don't own any vintage Heuer, this is before TAG bought in and rescued the company in 1984, I will keep looking. I don't buy these goods online but keep my options open with dealers.

Heuer has a heritage dating back to 1860; for me, the golden period is the 1960s and 1970s when Jack Heuer was in charge of the company. Heuer stood for motorsport and their chronographs were spectacular, TAG Heuer has maintained their motorsport linkages.

They had the Carrera, to my way of thinking, this was the classic chronograph design. Whilst the Carrera has been re-released in multiple formats, even as a three hand watch, the chronograph is the ultimate expression of watchmaking style.

The Autavia has been recently re-released by TAG Heuer and people have been raving about the timepiece. Initially released in 1962, the Autavia was a dashboard instrument later becoming a wristwatch.

The Camaro was released in 1968 and powered by the hand-wound Valjoux 7733 movement and was never fitted with an automatic movement before being discontinued in 1972. The Valjoux 7733 movement was a no-date model, although some Valjoux 7734 date versions were sold with a Valjoux 7736 movement that included the 12-hour sub-dial. The two sub-dial format of the Valjoux 7733 movement offers a really clean and uncluttered dial.  

The square cased Monaco is an outstanding timepiece, made famous by Steve McQueen in the 1971 movie Le Mans. Available with a Calibre 11 with a left hand crown or a Calibre 12 and right hand crown, the Monaco was released in 1969 and running to 1975 as the first automatic movement in a square case. Looking back, it is hard to believe that the Monaco was a failure, now appreciated as a classic timepiece, the Monaco is an expression of the time.

The Monza was an economy version of the Carrera although its design was a re-edition of a 1930s inspired timepiece. The Monza used a brass version of a second generation carrera case with a chrome plate or PVD finish. The Monza was fitted with an in-house Calibe 15 movement, basically a low cost version of the Calibre 12 with a left side crown and right side pushers.

The Montreal, released in 1972 had a 42 mm brushed case with right hand fluted pushers and a left hand crown. The earlier series were white dials with an array of colours on the hands and sub-dials. The earlier models hand in-house movements with the later versions fitted with updated Valjoux 7750 movements.

Looking back now, it is hard to believe the Monaco was not a success when it was first released. The Silverstone, released in 1974 was the replacement for the Monaco. The square case with rounded corners came with three dial colours with sub-dials at the 3 o’clock and 9 o’clock positions.

Not only does Rolex have a Daytona chronograph, Heuer released their version in 1976. Rather short lived, the Daytona used Heuer’s in-house chronograph with the pushers on the right side of the case and the crown on the left. The 39 mm brushed case held an integrated three link bracelet that came with no leather strap options.

The Kentucky, with horseshoe shaped case is a chronograph but does not have the motorsport heritage of most Heuer chronographs. The Kentucky launched in 1977 targets the equestrian crowd with screws at the lower section of the case and the Heuer name plate attached.

The Cortina was released in 1977 and was fitted with the same dial, albeit with the name change and the sub-dial hands differed. The case was octagonal and an integrated single link bracelet was fitted. The Cortina had a choice of index markers or roman numerals on the dial with a left crown and right pusher format.

The Jarama appeared in 1977 and only lasted a couple of years, named after a racetrack near Madrid that hosted a number of Formula 1 events. This isn’t a great looking timepiece by any stretch of the imagination with the fluted bezel and isn’t hard to see why it was released in limited numbers.

The Verona was released in 1978 and returned to clean lines and style of 1960s design. The sub-dials were positioned at the 3 o’clock and 9 o’clock positions with the date at 6 o’clock. I find the internal angled tachymeter scale an interesting inclusion. The crown is positioned on the left-side of the case and chronograph pushers on the right-side case to wind, adjust and operate the Calibre 12 movement.

The Pasadena was released in 1979 and fitted with the Valjoux 7750 chronograph movement. The black 41 mm lugless case design appears to be an anodised steel or there were also stainless steel options available. The Pasadena transitioned back to the crown and pushers located on the right side of the case. 

TAG Heuer has re-released a number of their vintage timepieces with the Carrera, Monaco and Autavia all listed in the current collection. I would argue that some of the vintage Heuer are not to my tastes although the Verona, Silverstone and possibly the Camaro might work for me.

Still diving my VR3

I get these unusual looks when I go diving; new divers watch in amazement when I strap on my old but reliable VR3 dive computer.

The technology may be equivalent to Microsoft's Windows 95 software; however, the algorithm is better than many modern computers and in terms of functionality, the VR3 was ahead of its time and stands up well.

The computer is bulky, it is the equivalent of an old style mobile phone housing with an operating system just as good as the latest release. In terms of trusting the algorithm. I will always dive any new computer side-by-side with my VR3 to verify the program.

This is why I played around with the pressure gradients to get my OSTC diving right. I have had plenty of decompression-stop dives with my VR3 and trust the program. Whilst I now have more modern dive computers, the VR3 will always be used for extended range dives as my reserve computer.

Making a decision

In my first year out in the workforce after completing my apprenticeship I was employed by a large earthmoving contractor at a major gold mining operation. The maintenance superintendent was incapable of making a decision and this was detrimental to the whole engineering workshop.

I was told by the frontline supervisors to "make a decision and follow that decision through even if it is the wrong decision." This was great advice that I pretty much used throughout my working life, it mostly worked.

This doesn't mean make a rash decision on the spot without collecting all the necessary data, this means collect all the data and make an informed decision. Don't be indecisive, you soon lose the respect of people if you are indecisive.

The maintenance superintendent was replaced not too far into the project and a hard core guy brought in. I lacked respect for the indecisive maintenance superintendent and held immense respect for the guy who replaced him - this has stayed with me throughout my working life.

Aligning decision-making with values is relatively new in my industry; this is the value of learning leadership at a business school. You need to make ethical decisions, this is a prerequisite for any leadership position.

A business school such as Kellogg at North Western University equips graduates with such decision-making skills to make informed decisions required in modern business environments. Leadership and decision-making is a very important aspect to management development.

Getting abused by losers - big deal

So I received some pre-warning when I returned to Perth, I was going to cop an ear full of abuse from some of my former colleagues when I volunteered over the weekend for the WorldSkills competition.

This all stemmed from a private email I wrote based to a former colleague based on a discussion we had prior to my departure. What I do know is the blow-hards and non-performers are pretty sensitive about their lack of ability.

The reason I left this employer was the toxic work environment based upon the lack of leadership by those instilled to provide direction. That being said, I should be a little more respectful of their knowledge and skill short-comings.

This is why that toxic work environment exists, they are miserable and I am laughing at them. They are running around weeks ahead of the event telling everyone around the office how they are going to abuse.

It gets better, I never applied for this job, they contacted me and made a reasonable offer that I decided not to refuse. Whilst it is an international location earning US dollars, they pick up flights, accommodation and all costs.

My post-tax income in US dollars is higher than their pre-tax income in Australian dollars, not that the salary was the deciding factor, but it helps pay the bills. What annoys them more is the fact that I won't brag about salary because they want to know what I am earning.

The biggest laugh for me is I never spent my full salary anyway, my mortgage was discharged at age 28. I paid it off after 6 years so my life after 30 was one of no financial stress, I invested some, spent a whole lot on travel and enjoying myself.

My move was all about the challenge and I am loving my new job and team mates whom I hold in high regard, unlike these other blow-hards. This is exactly why talent leaves and non-performers remain.

Diving Blue Corner - Palau

I was working in Guam in the late 90s and I was sent down to Palau for a week to repair a drag line we had dredging the harbour in Koror. I had my flights booked and the job had to be completed within the time frame, I had a team to work with down there and we pushed real hard to get the job done within the time frame.

The job was completed a day early and I was off diving for the final day, we worked back every afternoon for those six days to get the job completed. Our itinerary for the day was Blue Corner followed by the Big Drop Off and a night dive later on.

We were handed reef hooks, this was the first time I had ever used one so I was kind of interested in what this site had to offer if this is how they dive it. I think reef hooks are a brilliant idea, used correctly they really save the reef is strong currents.

Blue Corner is every bit as good as people say it is - we hooked onto the reef and sat in the current with the sharks, barracuda and pelagics out in the current hunting. I was counting sharks as they swam by before I thought to myself, why waste my time counting sharks?

Blue Corner is a sensational dive, I was lucky I was there in the late 90s, it was a good time to be diving with enough infrastructure and no overcrowding. Just enjoy your time hooked to the reef, watch the big fish swim past you and make the moment count - I did just that.

Action learning in the workplace

Action learning in the workplace has emerged as an on-the-job problem-solving methodology building team capability and individual leadership abilities holistically benefiting the organisation.

Action learning projects are designed to solve problems whilst developing leadership abilities as participants are required to apply critical-thinking abilities to problems, work collaboratively in a team and reflect on both processes and results.

The focus of action learning is to increase learning capacity within an organisation whilst responding to real world challenges in a cross-departmental teams. As complex problems require multiple skills to solve; individual team members develop customised learning agendas utilising a humanistic approach. 

A humanistic learning strategy requires motivation, self-development and affective skills differing from standardised behavioural and cognitive off-the-job classroom based training programs.

Action learning is an effective strategy developing individual leadership capabilities including team problem-solving skills; the program has been extensively utilised as an organisational leadership development tool reducing time lost off the job.

Typical Manila scams

I would love to tell everyone I am an experienced traveller and have never been scammed in my life, but that would be an outrageous filthy lie and no one would believe me. Instead I would like to share some personal experiences and observations to prevent people getting caught out in trips to the Philippines.

For most people their initial port of entry is Manila, they then generally move out to the provincial areas for their holiday. As a scuba diver, the Philippines is my favourite diving destination and I frequently travel to this interesting country. There are plenty of hard-working and honest Filipinos whom I respect, but you need to be aware as there are so many traps for unsuspecting and trusting tourists.

Taxi drivers - I have frequent arguments with taxi drivers refusing to turn the meter on instead quoting an outrageous price. As soon as they see I'm white they see the opportunity to try to gouge me, I don't mind an argument and like them, I'm happy to make a scene.

The familiar face - in the morning, mostly Sundays when no one is around you get approached by a male (in my experience) who claims to work at the hotel you are staying. Wouldn't you know it, he has a family issue that requires fast cash and since he works at the hotel you are staying he will get it back to you.

While I should just walk off, sometimes I like to engage these guys in a little conversation and play along naming the hotel and getting them to agree, naturally you are staying at a different hotel but I just like to see the look on their faces when you expose them.

Porters - in a country with no social security system, it is pretty much every man for himself. There are plenty of poorly educated under-employed working age males touting for work and a porter is as good a job as any as there is a demand for their services.

I don't begrudge these guys trying to scrape out a living in difficult circumstances but when you pull into a bus station, ferry terminal or airport. These guys descend on you grabbing at your belongings with no intention of giving them back without a fee then I become a little less sympathetic to their plight. I might not be young anymore but I am still capable of carrying my own bags.

Taxi and bus touts - arriving at airports and ports, the touts try to direct you to non-metered taxi stands that gouge you, there are fixed price taxi stands at the airports and these touts will operate along side them to try to feed you into cramming taxi drivers.

Question everything, even at the fixed charge stands they try to overcharge you, always check the fare printed on the board and argue everything. This can also crossover into bus touts and I have been caught out by one of these guys posing as a conductor on the bus.

The conductor only ever asks for your destination once the bus is on route working his way from the front of the bus to the back and issuing a ticket. He then moves to the front again working his way back collecting fares based on the ticket he issued you.

Restaurant bill overcharging - this could happen by accident with a clerical error. However, experience tells me that the frequency that this happens at Manila restaurants is that either the whole city is financially illiterate or they are pulling a swifty. Check every charge, question everything and then demand a large discount or free meal in the future when you catch them out.

Card skimming - ATMs are the major point of contact for card skimmers with card readers attached to the card reader skimming details when the card is inserted into the machine. Small cameras are fixed to read your password when you enter your details so always check the card reader before inserting you card and always cover your hand when you enter your code.

Bar rip-offs - most bars allow you to run a tab so things can get away from you really quickly. This is especially true for people coming from areas that don't run tabs. Always check the price of drinks before you order and enquire if you are beginning with a discount for the first drink. Even changing bars within the confines of a large hotel can come with nasty consequences as I found out the hard and expensive way.

Spiked drinks - this happens on a regular basis more often than one would think. This happens especially in the tourist district of Intramuros where a friendly woman approaches usually a single female, quickly strikes up a friendship and invites the person out to lunch where they are joined by friends including the alleged husband.

Drinks are spiked and the female is put in a taxi and driven around for a while before taken to an ATM and her account is emptied. As they are unconscious, they are vulnerable to sexual assault with a victim recounting to me where she began to regain consciousness with the alleged husband kissing her before passing out again. The police aren't interested even though they know the identities of the perpetrators and they operate unhindered. 

Fake goods - I see a lot of name brand designer stores and boutiques in Manila, the affluent clientele don't seem to be as price conscious as other destinations and I have no issues with authentic goods here. Manila is pretty much built on enormous shopping malls so no concerns here but buyer beware in the smaller shabby malls targeting a totally different consumer group.

Kidnapping - whilst most of the kidnapping occurs on the southern island of Mindanao, these crime gangs sometimes move into an area, grad someone and then sneak out immediately. When you see a local get into a vehicle their first action is to lock all the doors - a good habit to emulate.

Taxi drivers have been known to swipe people so I have seen locals, especially females take a shot of their licence displayed in the vehicle and send to a friend. This happens in the open and acts as a deterrent to seedy cab drivers.

The Rolex Oyster Perpetual

The Rolex Oyster Perpetual is the entry-level Rolex model, incidentally it is my preferred model as I am not a fan of many Rolex features. I really don't understand what people see in the Jubilee bracelet, fluted bezel or Mercedes hour hand.

According to Rolex, the Oyster bracelet was first introduced in 1930, the three-piece brushed design is fitted with an Oysterclasp, the Rolex propriety clasp. The Oyster bracelet defines the style along with the uncluttered dial with index markers and the Rolex crown at the 12 o'clock position. 

The 3132 in-house movement is a pretty robust movement, Rolex are on the ball here. Whilst the movement isn't highly finished like a Vacheron Constantin or a A. Lange & Söhne, the specifications cannot be faulted.

Some of the dial colours leave a little to be desired, I can see what Rolex is trying to do, they are trying to create a fun concept but at this price point, you don’t want fun - you want serious. If you want fun, you buy a Swatch, a Rolex is an old man’s watch that generally doesn't follow trends.

That being said, they still have black, blue and silver dials to offer some sensibility. I really like the look of the 2020 Oyster Perpetual - I would own one of these. The reference 124300 maintains the baton hands and hour index markers, that is a clean combination.

Xi Jinping - Head of the CCP (Corrupt Corona Party)

Xi Jinping became the president of the Chinese Communist Party (CCP) in 2012 ushering a new era of Chinese authoritarianism and assertiveness. This has not been a positive interaction for both the region or the world.

Xi Jinping joined the communist party back in 1974, he is the son of one of the party's founders who was expelled from the party in the 1962 purge. Xi Jinping was then sent to the country for some hard labour and re-education while his father was imprisoned.

Xi Jinping is no stranger to political purges, launching a series of actions to expel members and shore up his support base. But what Jinping is unable to do is free the party from corruption, nepotism and incompetence instead reinforcing such behaviours.

The Coronavirus pandemic unleashed on the world is very much of Jinping's actions. His rule has created both distrust and disorganisation in the CCP, the inability of the CCP to contain Covid-19 within Chinese borders is on Xi Jinping.

During Chinese new years celebrations the CCP allowed their citizens to roam the world taking the Chinavirus with them. There were fears this would be the catalyst that this would spread the virus around the globe and this is unfortunately what happened.

The Chinese new year is the largest movement of people in the world and the concerns that the spread of the virus would be accelerated across both the region and continents has been realised.

Now we all face restrictions, loss of incomes and devaluation of our wealth and retirement savings all while Xi Jinping consolidates his position within the CCP. The incompetence of the CCP and their failure to maintain control in their country has had negative worldwide effects and we all pay.

China has to clean up its act

China has to clean up its act, this pandemic that it has unleashed upon the world is a direct result of their inability to manage their own country.

Their wet markets are not the first time pandemics have been unleashed upon the world. Their recklessness has cost people their jobs, their livelihoods and people's lives. The hotspots are Europe and the United States, pretty much the developed world.

What happens when the Chinavirus gains a foothold in developing nations in Africa, South-East Asia, Central Asia and South America? They don't have the medical systems of the developed world, people don't have access to ventilators and sophisticated medical supplies.

They live in close quarters, they live in squalid conditions and a conventional lock-down doesn't work. Their governments don't have the resources to tackle the problems apart from maintaining power. I think we might escape the worst of it in Australia but I fear for those living in developing countries.

As it turns out, the developed world was hit the hardest with Europe and the United States leading infections and deaths. Brazil, India and Russia lead developing world infections with the Philippines and Indonesia leading Southeast Asian nations.

Singapore started well for a developed nation before succumbing to infections stemming from immigrant housing. This damaged their reputation, Hong Kong was going fantastic until China saw the opportunity to shut them down and Taiwan stared China down.

China has once again screwed over the world and their arrogance is breathtaking. They are using this pandemic to further their national interests in an unethical manner. The world needs to decouple from China so their only allies are Russia and North Korea.

Microlearning - a modern technique for distracted learners

Microlearning is a modern approach to learning based on short concise lessons delivered to learners at a convenient time. Microlearning predominantly deals with relatively small learning chunks aligned to short-term learning activities.

Microlearning is a holistic approach utilising short-term strategies seeking skills based training solutions. Whilst microlearning was pioneered as computer based training, the acceptance of smartphones and tablets allowed microlearning that are generally based around short videos of the two to five minute duration.

Microlearning is considered an agile method of delivering short bursts of training content that is self-paced. Active learning allows learners to engage with content instead of passively attending lectures, methodologies such as problem-based learning allows learners to actively engage with action learning projects increasing knowledge retention.

My Covid-19 setbacks

This Covid-19 pandemic couldn't have come at a worse time for me, I had just completed an international assignment and was looking to the next placement.

You need to ensure you are still within their sights, you need to be current and recent both contactable and available, you need to be recent and I was reinventing myself. I had retired from the mining industry and was ready to enter again.

That being said, I am residing in Perth, not a large city by international standards, but with a population of 2.1 million inhabitants, it isn't insignificant either. I am seeking both adventure and a challenging role - I want to make a difference.

Even better, I want to be involved in a positive role providing leadership and influence - the remuneration is usually better too. I get to fly around to new countries, engage in challenging projects and roles and have adventures. 

You tend to meet interesting people who are well travelled, organised and professional - very different to what I was used to. I wanted to not go backwards in my career with those miserable non-performers I was required to endure.