Nedved, as of tonight the XAO is below 5400 with the $Aud at just US$0.72 and the RBA's cash rate at a record low of 2%, the latest Morgan Poll found Confidence at a record low of just 86, investors in manufacturing and renewables are fleeing Australia and the commodity prices Tony Abbott hoped would rise and bankroll his profligate spending are on the mat. Even cattle imports into Indonesia have been slashed and longer term now have an undiplomatic cloud overhead.
And Abbott's masterplan is ....... [drumroll] ........ invest in coal, pump-prime it via a DAP, subsidise its operations and denigrate alternatives such as wind turbines.
Mainstream Australians are waking up to Emperor Abbott's NO plan and it appears as though the tipping point beyond which they will NO longer listen to his spin has been reached.
But on his way out the back door Abbott will not go quietly and will almost certainly inflict considerable collateral damage on any and everyone he thinks has crossed his path; especially those who have dared to speak about the outcome from that Coalition meeting held to kill off a vote on gay marriage [yet another backflip too by George].
