ARCHIVES 1997-2007  --- ARCHIVES 2007 +


OK. So Kevin got sacked because the MRRT was going to take $Billions from CRA & BHP.  Julia was promoted and signed a much weakened deal (MRRT) designed by CRA/BHP.  Julia has announced an election for mid September,  the MRRT (tax on mining) has only brought in $120 Mill instead of the $4 Billion predicted. Senator Evans and Roxon (Rudd enemies) have resigned, Rudd is highly visible and stating absolutely no intent to challenge (for ALP Leadership).  Also the heads of the two mining companies (Conzinc and BHP) who helped Julia design the MRRT have resigned after their respectiver companies made record losses.

What narrative connects all of those?

Lets start with the ALP is pwnd by the unions.  The unions want the mining companies to be rich and powerful, so they can afford to pay (whether they like it or not!) generous wages under the "Fair Work" Act.  So the Unions sacked Kevin, who planned to use Henry's tax, and told Julia to accept whatever the miners offered.  The miners proposed a good tax, with unbelievably huge write downs available on debt.

Shock Horror, we have just learned that the miners "wrote down" all their accumulated investment, turning a tidy profit into a loss, and thereby depriving us (Australian people) of a couple of $billion tax.  This made Julia look pretty stupid, so the mining moguls had to go for making those huge "losses".  Fact is, those write down made them a mint of saved taxes.

Now Julia is so much on the nose, and Kevin is the best bet for winning.  But Evans and Roxon are on record as saying they would never serve under Rudd.  So the plan is, they quit, then sack Julia and appoint Rudd as soon as expediency dictates.

These guys make Obeid look like a piker.