Australian stocks are down 1.5 per cent, erasing all of the gains made on Thursday in just the first half hour of trading.
The biggest losses are coming from the banks as investors flock to safe haven asset gold, which people buy in terms of crisis. Overnight on Wall Street, four per cent of value was wiped off the markets due to the number of coronavirus cases, which rose to 164 people in the US. Image: AP
Profits taken, the rich now turn to gold to secure their greed
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Green lawfare 'needs to be tackled head on' | Sky News AustraliaSky News contributor Dan Petrie says green law-fare 'is a self-fulfilling prophecy for self-assured destruction from an economic point of view”. \n\nThe Australian is reporting “green activists are using a back door on environmental laws to delay an estimated $65 billion in projects ranging from dams to a salmon farm, with 'lawfare' forcing companies into court for more than 10,000 days in total since 2000'. \n\nMr Petrie said “the simple fact is that… the standard of living we enjoy is in large paid for by the mining industry”. \n\n“Australia at its very core, particularly from an exports base, is a farm and quarry economy,” he said. \n\n“We’ve got great regulations that take into account environmental concerns'.\n\n'Green lawfare needs to be tackled head on,” he said. \n\nImage: Getty\n Backdoors or just mere being lawyers. Thank god for crowdfunding and a separate judicial system. Well that should surprise exactly no one...
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Australia is ‘paying the price’ for destroying agriculture: Katter | Sky News AustraliaAustralia’s “brainless” obsession with the free market has left consumers vulnerable to a global coronavirus-sparked slowdown according to Independent MP Bob Katter.\n\nAustralia's Department of Treasury has warned COVID-19, otherwise known as coronavirus, could wipe $34 billion from the economy this year.\n\nThe virus outbreak has also caused severe shortages of toilet paper and baby formula as nervous consumers stock up.\n\nMr Katter told Sky News Australia is “paying the price” for outsourcing much of its manufacturing sector to China, which is the epicentre of the coronavirus.\n\n“We are now in a situation where most of our fruit and vegetables come from overseas, we are net importer of fruit and vegetables,” he said.\n\n“Coronavirus has just brought out the serious implications of this.”\n\nImage: News Corp Is that Bob Tweeting from hos underground bunker with his prepper rations of 500 rolls of bog paper?
Source: SkyNewsAust - 🏆 7. / 78 Read more »