Reuters headline
Pardon my emotion … but what a ****ing shambles this is turning into.
–
Better shift forward those RBA rate cut expectations (next meeting isn’t until February 4)
–
From the Australian Financial Review(gated) Government’s treatment of Holden was bizarre
The federal government has decided to park the ambulance at the bottom of the cliff, not at the top.
As the government gives Holden its marching orders, it has become a case of be careful what you wish for.
The government may save $1.5 billion between now and 2020 by cutting the car industry free, but it stands to be liable for at least that amount to repair the damage.
No wonder they abandoned the debt ceiling to allow more government debt.
And more from the Australian Financial Review:
everyone believes its (GM’s) departure will precipitate the demise of the entire industry – Toyota and component manufacturers included
The government thought Holden was bluffing. Clearly it was not.
It was a bizarre way to conduct business with a multinational.
