world debt crisis, page-27

Hmmm ... folks should note that sovereign debts are not the result of just the GFC.

e.g. US debt in 2007 was US$10trillion and counting due to profligate Bush (US$5.6trillion at end of Clinton Presidency) who gave $trillions away in tax cuts and went to war.

The US Federal Reserve profit after costs for 2010 was US$80billion which was returned to US Treasury.

US Fortune 500 collective profit for 2010 was US$318billion and Corporations sitting on US$1.3trillion in CASH ... but not investing in US jobs !!!

Western economies (including Eurozone) need jobs ... pay taxes and spend.

In AUS ... Capital is fleeing our shores due to Corporate unfriendly policies of present Govt. RBA being anal about 2-3% inflation target is not helping.

May2011 Budget needed to move Company Tax rate to $0.29 as first step one in aligning AUS tax rate and keeping us an attractive investment destination.

Note for Julia/Swanny: Govt's don't create jobs ... Capital invests/creates jobs only when it believes it can make a return greater than the risk-free rate.


Cheers ... tight stops.