Woodstock v Bond market

Paul O’Loughlin

As a little bloke, I listened in awe as my elder siblings introduced me to a kaleidoscope of rock music that erupted out of Woodstock. “Woodstock was a music festival held August 15–18, 1969, which attracted an audience of more than 400,000. Billed as “An Aquarian Exposition: 3 Days of Peace & Music”, it was held at Max Yasgur’s 600-acre dairy farm in Bethel, New York, 43 miles southwest of Woodstock. Wikipedia

Initially, the event planning predicted an audience of little more than 60,000 people. What wasn’t predicted was a massive movement of humanity that gathered to protest the Vietnam war, which saw the event scale into what could have been a human calamity. A massive storm blew in colliding with a tidal wave of humanity turning the site into a mud bath of gargantuan proportions. The army had been placed on standby to evacuate the protestors but in fact, the national guard flew in to provide food, medicine and other necessities to sustain the tsunami of people, donated by the communities surrounding the event.

The concert launched bands on a global scale. Jefferson Airplane, Santana, Joe Cocker, Janis Joplin, 10 Years After, Crosby Stills Nash, Country Joe and the Fish and the list goes on. Who could forget Jimi Hendrix on the final morning belting out a screaming rendition of the Star-Spangled Banner to the noise of machine-gun fire, rockets exploding and jet fighters crashing… all played on his Fender Stratocaster.

It was a concert for the ages, an event in history that has defined the generation of “flower power” and has continued to define the musical horizon of that period in time and beyond.

And now what will define the current generation. Two worlds colliding, those being the US and China. Two countries destined to ink out their “play” on global domination. All the while the global economic markets are beginning to levitate and gyrate, surge and stutter, as the economic pundits predict and forecast an economic seizure somewhere down the line.15-18 months to be precise when the fallout from the “inverse bond curve” filters through the worldwide economy.

Will it happen… who knows, but one thing is for shore in that is the strength in the current US economy and the weakness in the Chinese economy is probably not enough to trigger a worldwide recession. Australia is in reasonable economic shape however as we ride the favourable mining tide with record precise for iron ore and coal… fingers crossed. Our fundamentals are in “reasonable shape” including the jobs market. The recruitment industry is bullish, but the broader economic platform is from all accounts going to require further stimulus with lower interest rates. The Reserve Bank Governor predicting another 2 within 6 months.

Overall a bumpy ride heading our way, but you know what… from calamity, we are defined. Woodstock, which could have been an event of such devastation turned out to be a musical celebration of Peace and Love. What could our current period’s legacy be…

If you are inclined, you can watch Woodstock on Foxtel Arts, Saturdays in August!