April 11 Links: Plans gone astray

You’re still with DE

  • Week ahead for the DOW Calculated Risk
  • PIMCO goes even more cash Zero Hedge
  • Icelanders say No Again WSJ
  • Europe sues SMH
  • Troika in Portugal with a new “plan” News.com.au. I am sure I have seen that plan somewhere else
  • Europes banks stampede for capital The economist
  • UN all in at Ivory Coast  Washington Post , Reuters
  • Egypt sizzles SMH
  • Yemen as well SMH
  • Libya rebels hold ground Reuters
  • If we are all doing so well where has all the tax gone ? The OZ ,Peter Martin
  • Maybe they can find some at Macquarie SMH 
  • Rate cut coming ? Funny what a falling market can do  News.com.au. Where has the “funding pressure” gone?
  • China’s trade deficit SMH
  • Usual suspects call for Yuan appreciation Bloomberg
  • After the stall, the real US budget fight begins Bloomberg
  • Looks like it is going to be a long one NYT
  • Oil above $126 , Euro up Reuters
  • Can’t stop our AUD FT
  • Gold and Silver both are records GoldandSilverBlog
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  1. RE: the tax shortfall:

    Softer capital gains, from a sharemarket still below pre-global financial crisis levels, was a major factor in the company tax revenue drop, Mr Swan said.

    Hello? Were they expecting the ASX to be back to pre-crisis levels this year? Or perhaps the shortfall in capital gains is happening in real estate?

    I note also that personal income tax collections are down by $1 billion:


    So perhaps the labour market isn’t quite as rosy as some would have us believe.

  2. The income tax is a shocker. It reminds me of the US government claiming the economy was back on track, yet a quick glance at sales tax data proved the opposite

    If wages are “rising” and employment is so strong how could we possibly be a billion down on income tax. If I take the tax rate at say 30% that is $3.3 billion less on earnings. Maybe someone can explain this in terms of middle class welfare changes? If not these figures just called [email protected] on the government

  3. This is an easy one. It’s all those sham contractors cooking the books and makiong non-payments. Must be.

    How else can you justify paying Glenn Stevens RBA Governor, PUBLIC SERVANT, $1M annually.
    Glenn, the miner. Of what?

    Mentioned Glenn’s pay packet to a friend and he retorted how important a role as head of the RBA was etc.

    So important that he is compensated more than the president of the US and the US Fed Governor combined?

    US president-US$400K +50K expenses.
    US fed chairman board of govs.-$199,700

  4. Regarding the offshore banking unit loophole that Mac has been using – isn’t the Aussie government better off getting 10% of something, rather than 30% of nothing (if they put those profits through offshore entities instead)?