Emerging Markets Walk The Tapertalk

Emerging Markets Walk The Tapertalk:

"Those bumbling politicians would be good value if they taxed us less. The Coalition's internet censorship policy was released 'in error'. The irony is so brilliant it hurts.

Better still, the guy responsible for it, Malcolm Turnbull 'read the policy for the first time when it was released'. Shadow Treasurer Joe Hockey had no idea the policy even existed on TV last night.

It's only the law they're dealing with folks. And remember, ignorance isn't a defence...unless you're a politician.

We're going to be introducing our own filter here at the Daily Reckoning, not that our publisher knows about it yet. Instead of porn, it will filter politics.

So while we can, let's mention the coalition's planned reduction of foreign aid. Right now, our government borrows money from emerging countries and then gives it back in foreign aid. Well, that was until recently, anyway. It looks like emerging markets are dumping their reserve assets, including Aussie dollars, before we can cut their foreign aid. They're doing it to try and defend the value of their currency. So why not make the rest of the situation a bit more sensible and stop sending borrowed money back to where it came?"

'via Blog this'