Good morning

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The headlines:

1. Apple seeks ban on 8 Samsung phones in the US.

   Link: that was fast.

   And let’s have a look at the share prices. Start with the AAPL:

   

   And the SAMS or whatever:

   

   And actually, there’s general assumption of a Google impact (because the Android systems are generally tied to Samsung phones). So:

   

   I love it when August 27 market sentiment is so obvious.

   The ruling on the injunction petition is expected next month.

2. Romney used tax-planning!!

   Link: the shameless bastard.

   There is much general outrage, etc, that Mitt Romney and his wife used “sophisticated tax-planning techniques” to minimise taxes and accumulate a familial estate worth more than $100 million.

   All the billionaires out there are shaking heads at the amateurishness of it all*.

   But I don’t think that there’s really anything that sophisticated about a family trust. You just write a trust deed and get a lawyer to create it for you. It’s only sophisticated because, well, it involves the foreign concept of “saving” as opposed to the American concept of “living on credit”.

   Sorry – that was mean.

   But I just think that Romney’s personal finances shouldn’t really be the issue. Yes – he’s rich. Yes – he pays tax efficiently. But if he didn’t, he would be stupid.

   And we’ve all seen what happens when a Republican president-elect isn’t that intelligent…

   *Only $100 million?! Honestly. 

3. SA’s National Union of Mineworkers wants more money for gold miners.

   Link: well there’s a surprise.

   After the rousing success of the platinum mines and the Lonmin disaster, there’s nothing like attempting to renegotiate a two-year agreement that was signed last August.

   You have to wonder whether the trade unions are really fighting for their members, or if this is all for political advantage. Because NUM has been losing members to rival trade unions (it’s how the Lonmin saga started). And it all feels more like a play to maintain a power base.

4. Tropical Storm Isaac is on his way to Louisiana.

   Link: soon to be a hurricane.

   It’s closed 78% of gasoline production in the Gulf of Mexico. And it also might interrupt the Republican National Convention down in Florida*.

   Let’s look at oil futures prices:

   

   Don’t forget the weather. It’s important.

   *It’s either nature protesting against the Republicans as an ancient prophet of old summoning down the storm on the infidels for the feelings toward global warming; or it’s demonic forces malovently gathering against the Chosen Upholders of family values. Depending on which side you’re on. 

That’s all for now.

Have a good day.