Australian national wealth eaten away by unpopularity of our GreenLabor Government
February 17th, 2012 by Warwick HughesChart replaced by this version with All Ords Index converted to a $US scale.
Thanks for that reminder Philip – I have this new chart from 2 Apr 2010 –
before the Rudd Govt intro of the first version mining tax on 3 May. The ASX fell after that – then Rudd was removed 24 June – then folowed the election 21 August – and the recovery in ASX sentiment can be seen after that with what I term the Gillard honeymoon lasting until debate about the carbon tax set in early last year. The carbon tax produced a negative sentiment and then maybe the recovery this year could be due to a growing realization that stresses within the GreenLabor Govt. means it may not run the full term.
I see today Treasury secretary Martin Parkinson at a Senate hearing has said; Australian consumers are too pessimistic about the future.
You have got that wrong Secretary Parkinson – it is the disgraceful Government that is affecting sentiment. We want an ELECTION NOW.
Posted in Resources | 10 Comments »
February 17th, 2012 at 7:48 pm
And listed companies represent what percentage of employment?
& what percentage of the earnings in the balance of trade?
& what percentage of the institutional super-annuation investment?
Go Julia!…………..just go.
February 19th, 2012 at 5:02 pm
Warwick,
you are drawing a long bow. If lack of confidence in the Federal Government was causing the market to drop, the Index would be below 2,000 by now.
I think it is just the current uncertainty about the future, but you are almost certainly right when you select 5500, as that is likely to be the market rate 3 days after this bungling, incompetent, wasteful “government” gets voted out of office.
Yes, we need an election soon, but look at those opposed to one. The greens and their associated NGO’s, gullible people who think wind turbines work (and not so gullible types wanting to feed on the subsidies), the “independents”, Mr. Slipper, Tim Flannery, the Fairfax press, entrenched University staff, dodgy (formerly pink batt) set top box installers, low flow shower head and solar panel sellers, and sundry Union Officials not wishing to face questions about use of Union Funds etc. to name a few. And about a hundred Labor pollies worried about future unemployment.
Tony Abbott will have to use dynamite, or something similar. If he should want a reliable formula for Amatol I can help.
February 20th, 2012 at 8:54 am
Yes, Please, an election, now, straightaway, before even more damage is done to the Country!
What we have now is not a Government but rather a Circus composed entirely of Clowns hitting each other over the heads while being paid huge over-blown salaries by the unfortunate Electorate who had expected that they would give us serious thought and care.
February 20th, 2012 at 9:54 am
If you priced the ASX in USD you would find the divergence from the NYSE mostly dissapears.
The divergence is mostly due to exchange rate movements.
February 20th, 2012 at 7:07 pm
Proved wrong by that change.
lol
February 23rd, 2012 at 10:11 am
I see today Treasury secretary Martin Parkinson at a Senate hearing has said;
Australian consumers are too pessimistic about the future.
I’m pessimistic about Parkinson’s predictions.
Parkinson when he was Secretary of the Dept of Climate Change told us that Obama was committed to cap n trade, was going to lead the world in a new era of global cooperation on climate change, that the EU were delivering on their targets, the UK were committed to 80% cuts by 2050 and that we better hurry up or we will be playing “catchup”???
He claimed Treasury Modelling shows compelling evidence? that the world will act.. that China is making real efforts to restrain its emissions…
February 23rd, 2012 at 10:15 am
Former Secretary of the Dept of Climate Change and now Treasury Secretary Dr Martin Parkinson at the Senate Estimates:
“I don’t think any industry that exists in the long term only because of government assistance makes a lot of sense.”
Oh, so he is opposed to all those green subsidies!!!!
February 28th, 2012 at 4:16 am
Warwick;
I was wrong. Julia got back today, and even though it was expected, the share market dropped despite good news from overseas.
Obviously a walking disaster.
March 12th, 2012 at 5:43 pm
I hope you all saw this. A report showing exactly how resource investment is walking from Australia to other countries.
June 22nd, 2012 at 12:12 pm
[...] in February I posted “Australian national wealth eaten away by unpopularity of our GreenLabor Government” – and doing an update today I see the difference between the DOW and ASX has continued to widen. [...]