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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?


To: Maurice Winn who wrote (73141)4/3/2010 10:49:02 AM
From: Snowshoe  Read Replies (1) | Respond to of 74559
 
Mq,

Maybe there isn't much greed on your idyllic sheep-dotted isle, but believe me it's a major force in commodity producing regions such as mine. My ex-governor Sarah Palin, who masquerades as a small-government fiscal conservative, led the charge to enact a draconian tax increase on our oil exports. Lula and Dilma have the same idea now, and Elmat licks his chops in anticipation of gorging on the profits. And of course you've seen how TJ's amygdala lights up when he fondles that diamond-encrusted gold pen and thinks about the bullion in his counting room.

The big iron ore producers are playing a dangerous game with their huge greedy price increases.

-Snow



To: Maurice Winn who wrote (73141)5/4/2010 9:17:32 PM
From: Snowshoe1 Recommendation  Read Replies (1) | Respond to of 74559
 
>>it's just the price the market will bear, not the "greedy" iron miners.<<

Mq, you really underestimate the role of greed in these things. The miners grabbed for too much, the Australian government noticed the big pile of loot and decided to slap on a 40% "super profits" tax. Just like a seagull swooping down to grab a piece of bread from a duck's beak...

Super tax will erode Australia's competitiveness: Rio
au.news.yahoo.com