Growing unpopularity of GreenLabor Canberra Government corresponds exactly with post April weakness in the ASXAugust 6th, 2011 by Warwick Hughes
Comparing one year charts for DOW and ASX All Ords – note how the ASX has performed much worse that the DOW – particularly since April this year. Yet the fundamentals of our economy would be sounder than in the USA.
IMHO the unpopular GreenLabor Govt in Canberra is the cause of most of the difference. Everybody knows they view the productive sectors of our economy as simply a source of extra taxation – that they then redistribute to their unproductive constituency. Just off the charts in May 2010 they announced version 1 of the mining tax – that had a negative effect on the ASX that has been added to by the version 2 mining tax proposal – and lately the Carbon Tax.
ASX All Ords (Charts by Proview)
A year of “Newspolls” measuring shifting Australian Federal “Two Party Preferred” voting intentions. Note how the collapse in the ASX relative to the DOW started in April – exactly when the popularity of the Canberra GreenLabor Govt began to collapse.
Millions of Australian investors realise that the Gillard/Brown GreenLabor Government in Canberra knows little about safeguarding Australian prosperity.
Post March 11 as talk around introducing the Govts. new Carbon Tax increased and caused the Govt to become more unpopular – worried investors began to take cash out of the ASX. Our Nation is now weaker than it need be – had we had prudent economic managers.
The sooner the Gillard/Brown GreenLabor Government in Canberra comes to an end – the better for our Nation and all of us.
No wonder concerned Australians are planning a “Convoy of No Confidence” – actually eleven truck convoys converging on Canberra on 22 August.