The world economy is on a knife edge.
The EU and US are almost bankrupt (both 13trillion+ indebt, over 90% gdp)
The Katla volcano when it erupts will destroy the fragile EU economy.
The US economy, which is even worse, will suffer the same fait once the EU goes down. (will be lots more detroits)
It also has its own little natural disaster, the lovely bp oil spill in the gulf of mexico, still cant stop it.
Hurricane season is starting soon and I wouldn't think oil + hurricanes make a good combination.
One thing that is almost certain is if the EU and US go down the world will have another great depression and that'll probably mean WW3.
Might not even need to wait until 2012 solar flares before the world turns to shit.
Fun times ahead.
Monday, May 31, 2010
Thursday, May 6, 2010
Kevin Rudd worst PM ever
Unbelievable how incompetent this guy is.
40% tax on miners "super profits" wtf are you thinking.
Firstly his "super profits" are based on 10 year government bond rates, which are about 4.5%. To say anything over this is a super profit is an absolute joke. Mining companies take big risks to find and mine a good resource they spend many years on development (many fail) and have to borrow hundreds of millions sometimes billions of dollars to get these projects running. To imply that they have the same risk rating as government bonds is just unbelievably stupid.
Mining companies already pay over 30% tax, this increase effectively taxes them at 57%. Thanks for investing billions of dollars and helping us avoid a recession.
This is not only bad for anyone with super, mining stocks, or jobs in the mining industry this is bad for everyone.
Foreign investors will be taking their large amounts of money out of Australia, not just out of the mining industry. They will deem Australia too high risk.
The world economy is heading to the shitter real soon and we would have been in a good position to avoid the worst of it, now I'm not too sure.
40% tax on miners "super profits" wtf are you thinking.
Firstly his "super profits" are based on 10 year government bond rates, which are about 4.5%. To say anything over this is a super profit is an absolute joke. Mining companies take big risks to find and mine a good resource they spend many years on development (many fail) and have to borrow hundreds of millions sometimes billions of dollars to get these projects running. To imply that they have the same risk rating as government bonds is just unbelievably stupid.
Mining companies already pay over 30% tax, this increase effectively taxes them at 57%. Thanks for investing billions of dollars and helping us avoid a recession.
This is not only bad for anyone with super, mining stocks, or jobs in the mining industry this is bad for everyone.
Foreign investors will be taking their large amounts of money out of Australia, not just out of the mining industry. They will deem Australia too high risk.
The world economy is heading to the shitter real soon and we would have been in a good position to avoid the worst of it, now I'm not too sure.
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