Australia Mining Tax

+ Proposed uniform 40% “Resources Super Profits Tax” to be implemented July 1, 2012

+ Rio Tinto is threatening to shelve their expansion plans in Australia.

Baron’s Big Money Poll

+ Investors are optimistic but cautious: 46% are either bullish or very bullish; 16% are bearish or very bearish; 77% are expecting to buy stocks in the next 6 to 12 months.

+ 49% believe commodity prices will rise over the next 6 months; 40% say they will stay near current levels.

+ Investor say that the best use of corporate cash is: 39% acquisitions, 33% dividends, 15% stock buy-backs, 2% debt reduction.

+ Best Performing Asset Class over the next 6 – 12 months according to investors: 62% stocks, 19% commodities, 13% cash, 4% real estate, 2% bonds.

+ Investors expect the Best Performing stock market over the next 6 – 12 months: 44% US, 25% Emerging Asia, 14% Japan, 5% Developed Europe.

Other Thoughts

+ Don Coxe says “BP oil spill is ‘3 Mile Island’ but offshore in deep water.

+ UK will have a coalition government. Even though the Conservatives won the most seats, the ruling Labour Party gets the first opportunity to form a coalition government.

+ There are rumours of a pre-emptive package for Portugal to be discussed this weekend.

+ Greek parliament passed their austerity measures yesterday and today, Germany’s upper house approved their share of the Greek rescue package.

For more information on Step 9 – “In the red zone” Governments Force Turnover, click here