How to screw the productive

ABC News - Treasurer Wayne Swan has accused the mining industry of making "extreme" claims against the Government's new super profits tax, as resources stocks continued to fall around the world. Overnight London's FTSE 100 closed 2.6 per cent lower in its first trading session since the tax was announced, with London-listed shares in BHP Billiton shedding nearly 8 per cent and Rio Tinto shares losing more than 6 per cent.

Prime Minister Kevin Rudd met mining bosses in Perth this morning as one leading investment bank confirmed that it was advising its clients not to buy into Australian-based resource stocks. ...One mining executive heading into the breakfast meeting said his reaction to the super profit tax had been one of "absolute horror".

...London stockbroker Jeremy Bastone-Carr says a disastrous day in trading for him was partly due to the tax. ...Head of resources at Fairfax Investment Bank John Meyer says he has been advising clients to invest in other countries.

The Australian - AUSTRALIA'S proposed new tax on its resources industry could be a huge competitive advantage for Canada, according to that country's finance minister, Jim Flaherty. Speaking to the media ahead of a speech to a public-policy forum on pension reform, Mr Flaherty said overnight that the continued decline in corporate taxes in Canada was a “great attraction for investment”.

You know what the crazy thing about all this is, kevin rudd is famous for 'burning the midnight oil' [when he's not burning down your roof], driving his staff to work to the bone, all day and all night and still with all the work they put in, he cannot come up with a policy that isn't going to be shot to shit within days of being released.

It's not that he's a socialist ass that we have to live with, but he's an idiot on top of it, it's actually becoming embarrassing now, not just frustrating. Until now his idiocy masquerading as policy was just being torn to pieces here in Australia and he was just making a fool of himself here. But now, it's all across the world, hold on folks, watch out for that moron kevin rudd from down under.

Back to this policy though, I have a feeling that this super-tax is going to be shelved in the next few weeks if not earlier, sauce-boy doesn't have what it takes to make unpopular decisions at the best of times, like the greatest moral challenge of our time, not his difficulty at telling the truth, I'm talking about his carbon-tax. He cried that we were all going to burn but eventually he lost bladder control and shelved it.

With this one the heat is coming from all over the place, not just at home, stock prices are sinking and with it people's Super, sauce-boy thought he could give a free kick at the big miners like he did with the smokers but this hasn't worked out that way, so I think he'll fold soon, like the cheap suit he always was.

4 comments:

  1. Phil StephensonMay 5, 2010 at 4:16 PM

    Rudd/Swan and co. have what was once described to me as the Errol Flynn syndrome.

    They f*ck everything they touch.

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  2. Definitely Phil, i can't think of anything that hasn't turned to shit after they've fiddled with it.

    kevin rudd is just learning first hand that old saying, careful what you wish for, you might just get it.

    All along he prattled and prattled that he had the answers, he knew it all, he knew how to fix it all, he had all the ideas and the answers. Then the unthinkable happened, people asked him for the answers and the idea. They gave him what he wished for, they asked him to fix it all.

    I remember reading an article recently where the author put forward that leftist ideology is its own worst enemy. And this is one such example, their entire ideology is designed to stuff everything up, yet for some reason, they're shocked when it happens exactly as expected.

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  3. Krunt isn't learning anything. He just wants to be Prime Minister.

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  4. I heard Julia Gillard defending the ass this morning, even she was having trouble waffling around his stupidity.

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