Austrailian Mining Tax

[BlasterBates]

So is this new mining tax in Oz "going to fly" ???

Is this a triumph for the workers?

[Mich the Tester]

So is this new mining tax in Oz "going to fly" ???

Is this a triumph for the workers?

I don't know, but it's a triumph for Australia's version of Hector, whatever his name is. Bruce?

[AtW]

So is this new mining tax in Oz "going to fly" ???

If they don't like it then they can mine valuable stuff somewhere else.

Simples.

[Jeebo72]

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,.

[AtW]

mainly due to the mining companies

Wrong.

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.

[Jeebo72]

Wrong.

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.

Wrong.

[AtW]

Wrong.

Just ask Gecko - he'd confirm I am right.

[Jeebo72]

Just ask Gecko - he'd confirm I am right.

Explain then complete collapse of mining stocks in 2008? You are wrong.

[AtW]

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.

Is that clear to you now?

[Jeebo72]

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.

Is that clear to you now?

Wrong.