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Just look at BHP/RIO share prices. No one wants BHP or RIO...

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TeTeTe

2,304 Posts.

19/11/14

15:11

Post #: 14315908
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Originally posted by hotwolf ↑

Please bare with me Mods. This rant is very much AGO related.

AGO like FMG et al are another victim in BHPs long list of crimes against this nation.

BHP is not our friend and its about time we stopped thinking of this company as the defining Australian business model!! Lets look at the record.

They helped significantly, to eliminate Kevin Rudds prime minister ship through a wildly dishonest campaign about the Mining rent tax and Carbon Tax. Both of these would have helped enormously to balance the budget but instead the burden has been shifted back to the wage earners.

In real terms, the board of BHP trumped the votes of millions of Australians at the polls. Yes, I know you can spew other factors in Rudds fall and fair call, but BHP played an enormous part in that is all I'm saying. Maybe you dont agree? Bare with me, I'm just getting warmed up.

They then renegotiated an ineffective MRRT in its place and ultimately, with RIO, Rhinehart, Stokes and Murdoch, installed the most pro predatory ( like BHP) capitalistic govt in our history. Even if you voted for Abbott you cannot avoid this observation .

What was the first action in office?. To give Rhinehart the go ahead to dump coal slurry on the reef. That was an intentional opening salvo to mark the tone and aspirations of Tony Abbott. Growth at any cost.

Because BHP and other cartels lobbied for it, we are now a signatory to the TPT now which even Howard shirked at. We have little idea what rights have been lost but thanks to WIKILEAKS we know companies can now sue the government if they believe our environmental laws crimp their profit. It's little wonder Abbott considers Assange an enemy of the state.

Lets move on from politics.

BHP contributes to our coffers at an effective tax rate of 13%. Bugger all. We get 13% of their profit in exchange for their environmental footprint on this continent. Think about the scale of that damage and permanent loss of resources both mineral and biological. Do we think the aboriginal nation has been helped by negotiating away land rights for cash?

They employ around 28 000 people in the whole country. Yes I'm aware of related employment industries but for the sake of scale and accuracy I'll quote direct employment only (from their website). Its a paltry contribution relative to their income (which they avoid reasonable taxes on) and which are largely distributed to foreigners. That cash (a limited supply) never re enters the economy.

This government casually eliminated 100 000 jobs from car manufacturing industry remember .

And the Pièce de résistance from this predator?: The deliberate over production of one of this countries major bulk commodity exports, Iron ore.

They have been quite clear in the rationale...to dominate the market by eliminating the market. Monopolies are illegal but trying to be one apparently isn't.

This action by the bover twins BHP/RIO not only affects AGO FMG etc, but by all of us, our children and in the unlikely event, their children.

It will eliminate more jobs than BHP/ RIO provide. By hammering state budgets It will close down schools put people on the street and push crime rates through the roof. This isnt hyperbole, they are real world consequences.

Despite this nation providing such a large part of their shareholders profits they are doing more than biting the hand that feeds them. They are permanently marking this nation as a willing rape victim with a clear invite to other Conglomerates to join the party.

Harsh words? I don't think so. You simply don't hear language like this anymore because we have become a nation of passive, uninterested participants,; not only our own future but the horrendous quality of life we will leave our own progeny.

Correct and criticize if you like but I would rather hear some voices add to this sentiment and see if a Hotcopper thread can focus the anger born from this bloated vampires actions

We certainly aren't seeing it in the media are we? Only praise for the might Broken Hill Proprietary.

Occasionally the AFR will quote HC so maybe we can trigger a real discussion about the rectitude of such companies and their place in subverting the democracy we have assumed exists for all people

Ranted.

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Just look at BHP/RIO share prices. No one wants BHP or RIO either. They continue to fall like all other IO and mining stocks. If they are doing what you say. Then why would they want to do this. Becuse this will only damage their reputaion and share price in the long run anyhow. It is not counter productive IMO. They are just suffering like the rest. Maybe a little less, due to their market cap. Just relax my friend the IO price will be over $100 soon.

AGO Price at posting: 20.5¢ Sentiment: None Disclosure: Not Held

RIO Price at posting: $58.05 Sentiment: None Disclosure: Not Held

FMG Price at posting: $2.71 Sentiment: Buy Disclosure: Not Held
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