I do believe the Aussie electorate is naive when it comes to understanding where their constant stream of welfare comes from that they are enjoying.
If they don't understand now by the time the next election comes around they will become acutely aware, because at some point welfare cuts must be made as income from mining and resources decline as companies are already heading offshore into more favourable tax jurisdictions. They have been doing this for some time, already anticipating a Labor/Greens coalition. Unfortunately this also aligns with my belief that Labor and Greens will form a minority government with Greens getting a swathe of their demands through parliament. I really dread the day and it will be the end of Australia as we know it when it comes to investing locally. It does almost appear that Labor/ Greens are helping Trump to get his way in total ignorance of what they are doing, that is drive investment out of Australia and into the arms of the USA.
Start preparing now because atm it's sell on the rumour, and when we get fact, watch out it's everyone (investors) for the exit at the same time.
Sell in May (3rd) and go away may well become the colloquial truism.
BHP Price at posting:
$36.48 Sentiment: Hold Disclosure: Held
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