Going, going …. sold!

John Howard - Crazy Warehouse GuyLatest figures on foreign investment in Whorestralia are worrisome.

In 2003/04, foreign investment totalled $1,059,345m – and 30.8% of Whorestralia’s total enterprise equity was owned by foreigners, with the United Stupids heading the list at 32% of total foreign ownership, followed closely by the United Kooks at 30%. By the end of the December 2006 quarter, foreign investment increased to $1,433,466m.

That’s an gigantic 35.3% increase in foreign investment in just 3 years. Why did the rodent add more sugar by removing CGT for foreign equities investors last December?

Nett Whorestralian foreign debt has risen from $390,565m in 03/04 to a disturbing $521,161m at the end of Dec 06. The vast majority of foreign debt is implicated in the private sector, with a disgraceful increase from $385,490m in 03/04 to $518,841m in Dec 06.

Whorestralia’s total liabilities at the end of 2006 were a staggering $900,258m.

So what use has the concurrent resource boom during the past 3 years been to Whorestralia? It is clear that much of the profits therefrom have been expropriated overseas, leaving the Whorestralian economy beholden.

Team Rodent has patently been very busy selling us out.

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