Blog/Australia & Oceania
Posted Feb 13, 2016 by Martin Armstrong
I have followed your work for more than 7 years now and it is fair to say that you have opened my eyes and mind to how the world and global economy really functions.
This morning on my way to work I read an article in a major newspaper here in Melbourne stating that the Australian Taxation Office (ATO) is now sending employees to hide in car parks at weekend football matches in an attempt to catch taxpayers out using their ‘business use’ vehicles (typically SUVs for which they claim tax concessions) for private use.
There is seemingly no end (or ethical barrier) to this global hunt for taxes.
You cannot even exit a train station here of a morning without half a dozen ‘ticket inspectors’ dressed in para-military like uniforms over bearing the exit gates, just waiting to pounce on, and fine anyone without the correct ticket type.
You were absolutely correct when you referred to Australia having a very high Marxist influence – I worry for where this country is headed.
Ps. What is your view on the Australian economy and Australian Real Estate in the near term?
All the very best
REPLY: This is the sovereign debt crisis in full bloom. In Italy, they have taxmen lurking outside of jewelry stores. Governments are desperately hunting for money as they see it as their own survival. This is becoming THEM against US. They claim the market crashed because of confidence in central banks is declining. Hello! They never had the power to control the economy. It has always been about talking the markets up and down. When G5 was established at the Plaza Accord in 1985, they came out publicly and stated they wanted to see the dollar down by 40%. They TALK the markets up or down and society is stupid enough to think they are in control. The eyes are starting to open for everyone. They will be bug-eyed and in shock by 2017.
Tags: ATO, Australia