We now return you to your regularly scheduled JRE
Between a weekend back home and a busy week at work, I haven’t had much time to post this week. As penance, here’s a linkdump to keep you entertained until I can put some real posts together…
SCANDAL: BANKS USING CHEAP MONEY TO MAKE MORE MONEY - STOP THESE GREEDY PIGS, scream the dreadlocked mung-bean-munching tree-hugging dope-smoking filthy vegan commies at the Spencer Street Soviet. They seem to be offended that - shock! horror! - Macquarie Bank is using the cheap funding it obtained under the Aussie government guarantee to make money for the bank. Good god, we can’t have that, can we?
They’ve even got a long-lens paparazzi photo of Macquarie’s head of Corporate and Asset Finance, because apparently he’s the scumbag with a “$16 million home in Sydney’s swish Vaucluse” who’s… doing what exactly? Making money for the bank so it doesn’t go bust in the next round of the GFC? He must be stopped!
While the Fairfax papers beat up on the banksters, the Murdoch papers beat up on the resource super-profits tax…
THE chairman of Citic Pacific, the largest Chinese mining investor in Australia, says he is “shocked” by the Rudd government’s planned resources tax and is seeking special exemptions for his $US5 billion ($6bn) Pilbara iron ore project.
In an exclusive interview with The Australian while visiting Perth, Chang Zhenming also warned that any future expansion of the massive project – involving billions of dollars in planned spending – would hinge on the company achieving a “reasonable outcome” on the tax. […]
“The reason it’s called a super-profit tax is because it’s taxed on super profits and we don’t believe this mine will have super profits as this is a magnetite project with very low iron concentrate,” Mr Chang said through an interpreter.
…but if this huge mine won’t have super profits for the super profits tax to tax, then what the hell is he worried about?
And on a related note, if this huge mine won’t have super profits, then why on earth are they pouring five billion dollars into it? Doesn’t sound like a winning investment strategy to me.
Rogue knitters encamped along the Berkeley-Oakland border with lawn chairs, tea cakes and knitting projects to protest the city of Berkeley’s order they remove an 8-foot knitted tea cozy they sewed over the “T” in a public sculpture they believe insults Oakland.
Zombies … walking speeds … testicle-less … self-euthanasia … selfish, inconsiderate and clearly unconscious bastards … asshat … mental midget … puppy tranquilizers … wheezing, anemic … chassis sawed in half … even uglier … order a set of machine guns.
Used car for sale. One owner, (very) low miles, only driven to church on Sundays. $1.9 million or best offer.