Perhaps we are just overly curmudgeonly about the whole idea of spreading the wealth around. Still, it seems like a fraud has been foisted upon the Australian public…that everyone is entitled to benefit from the risk-taking of others without taking any risk at all…because the resources “belong” to all Australians.
July 2nd, 2010 | Dan Denning | 14 comments | ContinuedAll Posts Tagged With: "RSPT"
Socialist Pigs
One need only look to the recent goings on in Australia, your editor’s country of birth, for a glimpse into the real world outcomes of this ideological struggle. Kevin Rudd was last week ousted from Prime Ministership after a botched attempt to impose a “super profits” tax on the most productive sector of the Australian economy – the mighty mining sector. We provided a few details in Thursday’s issue:
July 1st, 2010 | Joel Bowman | 33 comments | Continued
Even Taxes are Pretty in Pink
Forcing the more productive, intelligent and resourceful people in the economy to bear the weight of those who should be going out of business is just stupid. That hasn’t stopped countries from trying it. But the IMF points out that most countries abandon it. And what would happen to government revenue when the economy slows?
June 26th, 2010 | Nickolai Hubble | 11 comments | Continued
European Failout
It doesn’t mean you can’t get a rally from here. But worries about debt default in Europe just won’t go away. Credit default swaps on sovereign Greek debt blew out to all time highs in European trading overnight. That means the cost of insuring Greek government debt from default has never been higher.
June 25th, 2010 | Dan Denning | 5 comments | Continued
After the Fall
The current direction of U.S. home prices (down) has been brought about by many of the same economic management principles applied here in Australia. In fact, the whole Keynesian effort to support aggregate demand and “bring forward” demand through tax credits and handouts has been used the world over.
June 24th, 2010 | Dan Denning | 39 comments | Continued
Buckle Up
He goes on to explain the relationship between the level of housing finance available in Australia and the mining industry. With 270 pre-RSPT projects queued up valued at $300 billion, foreign lenders had plenty of confidence in Australia as an attractive economy to lend into. This despite the fact that total debt in the economy (public, corporate, AND private) is the neighbourhood of Italian and Greek levels, according to Gottliebsen.
June 23rd, 2010 | Dan Denning | 5 comments | Continued
Zombie Bureaucratic Socialists Attack in Daylight
These rules are worth reviewing because an army of wealth-stealing Zombies from the government are now on the march. They walk amongst us in broad daylight. And their ludicrous proposals to impose super taxes on every industry and to bludgeon free people into unthinking submission are starting to become a real threat to personal freedom and your ability to achieve financial independence.
June 22nd, 2010 | Dan Denning | 62 comments | Continued
Safe as Earth Quakes
Tax-confiscating, power-mongering, pseudo-intellectual moralistic bullies are like terminator roaches. They never go away and they just seem to keep multiplying. We had hoped to return from our quick trip to Seattle to find that the resource super profits tax and been beaten into the submission and defeat which it so richly deserve.
June 17th, 2010 | Dan Denning | 24 comments | Continued
European Bankers go to the Mattresses
Are Europe’s banks now playing a game of hide-and-don’t-lend? According to overnight deposits made by European banks at the European Central Bank, the answer is “yes.” The Financial Times reports that European banks parked around €350 billion at the ECB on Friday. There, huddled with all the other frightened deposits, it earned 0.25% in interest.
June 8th, 2010 | Dan Denning | 2 comments | Continued
Stimulating What?
If the economy tries to revert back to providing something of value, it will notice that capital, resources and employment will have to be reallocated. This is not a fun process. It is called a depression. But if you don’t have the depression, you will continue to misallocate the capital into malinvestments, which turn out to be worthless to the economy in real terms.
June 5th, 2010 | Nickolai Hubble | 44 comments | Continued
Pricing in Uncertainty
What about dividends? Stocks are usually a buy when yields peak. For one, at bear market bottoms when no one wants to own stocks, companies forced to pay out more in earnings to attract equity buyers. Secondly, economic troughs are accompanied by higher interest rates. The higher interest rates in the real economy are usually matched with higher yields on corporate bonds and larger dividends.
June 3rd, 2010 | Dan Denning | 21 comments | Continued
