One (more) thing about this whole sorry mess I don't understand. If it's good enough and seemingly economically and politically viable for Bush and now Obama to launch a multi-billion tax payer funded bailout for the motor industry. then why is there not far more discusssion about something similar for our ailing Mining sector?
Surely the Mining sector to Australia is equally if not more important than the car industry is to the US.
Can anyone imagine a scenario whereby the US govt sits idly by and lets its greatest benchmark industry be sold off to the Chinese (or anybody else) for a song?
For a fraction of the cost of the current and probably massively ineffective stimulus package we could ensure that some of our most important long term assets and emerging companies are retained, with the added benefit that within the next 3 -5 years max the ROI for the Govt of the day and the Nation will undoubtedly be enormous.
I suppose the only way this can happen is if the Captains of Industry get together in the same manner that GM, Chrysler etc have done and bluntly outline the consequences of inaction.
Am I missing something here?
OZL Price at posting:
$6.50 Sentiment: Hold Disclosure: Held
