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Seems a bit crazy to me, the Perth market has been buoyant all through the credit crunch (as has much of aus) and mainly due to the mining companies... and yet they want to f**** it all up. Seems a bit socialist to me, with the usual socialist repercussions that we’re experiencing in the UK,.
Commodities markets were buyoant (and by extension mining companies) because of speculative activity related to putting 0% interest rate loans from centrals banks into those markets.
Australian Govt wants a slice of those extra revenues - you can hardly blame them since the stuff is mined from Australian ground in the first place.
Commodities markets were buyoant (and by extension mining companies) because of speculative activity related to putting 0% interest rate loans from centrals banks into those markets.
Australian Govt wants a slice of those extra revenues - you can hardly blame them since the stuff is mined from Australian ground in the first place.
Explain then complete collapse of mining stocks in 2008?
They collapsed because commodity markets got overheated and gone down (oil from $150 to $30 where it belongs), then Govts started printing money and giving out loans at 0% interest rate so speculators put all that back into commodity markets, consequently oil is not back to $80, other commodities also up considerably, which in turn why mining stocks gone up and so are the taxes on same work they do but get a lot more dosh for.
They collapsed because commodity markets got overheated and gone down (oil from $150 to $30 where it belongs), then Govts started printing money and giving out loans at 0% interest rate so speculators put all that back into commodity markets, consequently oil is not back to $80, other commodities also up considerably, which in turn why mining stocks gone up and so are the taxes on same work they do but get a lot more dosh for.
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