Will this stop or enshrine the MRRT in legislation for iron ore and coal ? Will this stop or enshrine the PRRT in legislation for oil,gas,gtl,CBM etc ? Will we have a double dissolution election when the senators get sworn in next July (2011) ? Should we all pull out of the Australian market before it is too late ?
I fear I will lose even more from this very unstable hung parliament, sovereign risk due to mining taxes (MRRT, and the extension of PRRT to oil and gas onshore), the imploding of the US recovery, and the Eurozone debt crunch. Cash may be the only option for the next year or 2. The US is going into a death spiral of debt, possible deflation, flat economic growth, millions of more defaults from home owners with negative equity leading to lower sales, and a possible meltdown in the commercial property sector. Unless I am mistaken this is not good for anyone especially all of us that own shares !!!
