From Dow Jones news this morning. Charlie hit the nail on the head - abandon these socialist tax grabs and regulate against illegal trading. That sounds like some sound economic principles.
I wish Peter Costello was still around!
"0954 [Dow Jones] Australia's S&P/ASX 200 index is likely to fall Thursday less than half of Wednesday's 4.6% fall in the DJIA, because "money is starting to move from where there is no or low growth, to where this is still some growth and policy response options," says Bell Potter Managing Director Charlie Aitken. "You could see that last night where the high interest rate, commodity based exporter economies of Brazil (up 0.5%) and Canada (up 0.7%) outperformed sharply in the global rout, as did the physical commodities." Aitken says that to maximize global investment inflow, Australia should abandon the mineral resources rent tax, abandon the carbon tax, abandon gaming reform, cut interest rates by 150 basis points this year and tighten regulation over electronic equities trading. The S&P/ASX index closed at 4141.3 on Wednesday. ([email protected])"
