wet'n wild wednesday., page-10

BrighterSpark

This isn't meant to be a political post but while we have economic imbeciles (regardless of party) implementing wasteful schemes such as $700 set-top boxes (see the Australian website) I think there is a very clear picture why the local market is floundering - total lack of business and consumer confidence.

IMO while many traders keep looking elsewhere for direction and reasons, it is vastly underestimated how much the ongoing political malaise here is keeping cash sidelined.

I think this quote from the Alcoa Australia sums up the general investment outlook here...

"I don't think there's anybody in the world who's going to put billions of dollars into the ground without understanding what are the rules for an ETS (emissions trading scheme) or a carbon tax," Mr Cransberg said.

Whether you are for or against the carbon tax, the reality is people are sitting on their hands.

So on that note it could be seriously tedious until 2013 election unless there is an unseen catalyst.