I would like for KRudd to come out and publically say what he has spent $200+billion (our new debt figure) on to 'stimulize' the economy.

When people actually see what this smiling assasin has actually spent the money on (and the values), you will be quite shocked.

Anyone with the ability to sign a chequebook could do the same.

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[COLOR="Gray"]550Nm off a 2L... Just wish it was in the dak dak...[/COLOR]

As the saying goes money talks and bullshit walks...look and listen Krudd this is a reality and freight train coming.
http://www.perthnow.com.au/business/...-1225875342861

JPMorgan cuts BHP, Rio stake because of proposed resource super-profits tax

* Matt Chambers
* From: The Australian
* June 03, 2010 10:00PM

ONE of the world's biggest resource fund managers has sold down a quarter of his BHP Billiton and Rio Tinto holdings because of Kevin Rudd's proposed 40 per cent tax on mining profits, which he described as a "wake up call".

JPMorgan Chase's Ian Henderson said Rio had been his biggest investment, about 4.5 per cent of the $US7 billion ($8.2bn) of resource assets under his control, but he had reduced his holding by about $US100 million.

He said also that he had made a "reasonably significant" reduction in his holdings of Fortescue Metals Group because of the proposed tax, but the JPMorgan resource funds had increased their holdings in gold miners.

"I'm sorry to say we've reduced our Australian exposure," Mr Henderson told Bloomberg.

"It's been a wake-up call, frankly. I had not thought that the changes in Australia would be quite as drastic as they are proposed to be."

Start of sidebar. Skip to end of sidebar.
Related Coverage

* Warning: Tax risks capital flight: ANZ

* Xstrata in warning over $6bn coal project Daily Telegraph, 8 hours ago
* Tax hits mine workers The Australian, 15 hours ago
* Rio Tinto intensifies tax attack The Australian, 4 days ago
* UK investors urged to join protest against profit slug The Australian, 10 days ago
* Australia at top of risk list: Rio boss The Australian, 10 days ago

End of sidebar. Return to start of sidebar.

Mr Henderson, who is based in London, manages JPMorgan's Global Natural Resources fund.

"It clearly does reduce the attractions of developing new projects in Australia and indeed investing in Australian-based mining ventures," he said.

"It has made people aware of the potential for these industries to be used as milk cows by governments. That has altered the risk profile for the mining industry probably for quite a long time."

Mr Henderson's comments back up claims from international and local mining companies that their big shareholders are seriously worried about the negative effects the tax will have on investments in Australia.

Xstrata chief executive Mick Davis said the government's planned tax changes meant mining projects in Australia would now need a higher rate of return to balance the added uncertainty.

"Investors will also expect higher project returns to justify the increased risk of investing in Australia," he said.

Rio chief Tom Albanese said yesterday on Sydney radio 2GB that he believed the mining tax had weighed on his shares.

But a look at the performance of the world's top-five miners since the tax plans were announced early last month does not back the claim.

Rio and BHP, with falls of 2.5 per cent and 4.5 per cent, respectively, have outperformed Vale, down 7.5 per cent, Xstrata, down 6.8 per cent, and AngloAmerican, down 5.9 per cent.

Those three have less Australian exposure than BHP and Rio.

Mr Albanese said he felt like he had been "sucker-punched" by the Rudd government on the tax.

"Over the past year, we have been assured that we would be given the opportunity to provide input," Mr Albanese said.

"And I felt like I got sucker-punched when the thing came out (without any consultation)."

He emphasised the strength of the Australian economy, compared with the rest of the world, during the global financial crisis.

"I've been travelling all over the world last year, in the depths of the recession, and the only place anywhere in the world where people were actually in restaurants was in Australia as they were the only ones in the world that had any money," he said.

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Funny looking German Subaru

Dont forget to paste the article where he buys them back cheap after all the mum and dad investors read that and sell theirs in true sheep form.

It would be nice to have that much influence on the market!

:P

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[S]kid[S]

Aint that the Truth!!!

apparently he shifted his investments into a company called Vale in Brazil

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Funny looking German Subaru

The Mum & Dad investors are still hurting from the sharemarket dive immediately following Rudds initial announcement of his intent to introduce this SPRT.

16 billion dollars was wiped from ASX resources companies in just 1 day.

How any Australian can support this tax is beyond me, I am yet to hear one rational view as to how the proposed tax will benefit Australia as a whole.

This is pork barrelling at its very worst.

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"sorry we all can't spell prefect english like you's .."

http://www.news.com.au/business/reso...-1225876508564

Asked if he had exaggerated the threat, Mr Palmer has told Monday night's Four Corners program: "Probably. It should've been, you know, slowing them down, waiting to see what happens."

The Federal Government has been quick to criticise Mr Palmer, a prominent donor to Queensland's Liberal National Party and Australia's seventh richest man.

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[S]kid[S]

Some real facts:

JUNE 8TH 2010 WORLD INDICIES
=====================

DJIA……....6440 up to 11309 down to 9817 a 76% increase… 13.2% decrease
S&P500……… 667 up to 1220 down to 1051 a 83% increase… 13.8% decrease
FTSE100……3461 up to 5834 down to 5007 a 69% increase… 14.2% decrease
ASX200….….3073 up to 5025 down to 4381 a 64% increase… 12.4% decrease


DJIA = Dow Jones Industrial Average (USA)
S&P500 = Standard & Poors top 500 Companies (USA)
FTSE100 = Top 100 Companies on London Stock Exchange
ASX200 = Top 200 Companies on Australian Stock Exchange

Spot Metal Prices:






% Down from Recent Peak Prices:
=====================
Copper 24%
Nickel 32%
Aluminum 24.5%

Gold 6% up



Its a fact that the mass media hysteria simply does not stand up to proper scrutiny. This talk of a new tax simply is not the cause of the recent share market drop.

Australian Superannuation Funds and very large international funds have been selling down their stakes in the majority of ASX200 companies since mid April. This coincides with a drop in spot base metal prices around the world, and a lack of risk appetite by currency traders for the Australian dollar.
Australian based currency shares have been sold down and converted into US dollars as base metals prices have dropped.

The flip side to all this is that as the Australian dollar has dropped 13% (same as base metals index) from its recent peak, Oz exports priced in US dollars now earn Aussie companies 13% more. i.e. Iron Ore, gold and precious metals from BHP, RIO, FMG, MMX, MGX, AGO, NCM and others.


NOW Y'ALL GOT ALL THAT!!!

J

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"You can turn your back on a person, but, never turn your back on a drug. Especially when it's waving a razor-sharp hunting knife in your eye." - Raoul Duke

Clears up a few things:

http://www.news.com.au/business/the-...-1225880647733

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[S]kid[S]

Nice example, but it excludes the biggest factor.

Suddenly there is less profit for the company yet there is still a major risk in running a mine. It is that $/risk ratio that will determine if they keep mining in Australia.

What happens to KRudd's repayment plan of all the money he has put us in debt for if a majority of the miners go to any of the other countries begging them to set up shop?

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[COLOR="Gray"]550Nm off a 2L... Just wish it was in the dak dak...[/COLOR]