With the media over-preoccupied with the Budget, Tony’s women issues (which is code for Fairfax/ABC issues) and the legitimate concern of how badly Joe and Tony have sold this ‘tough’ Budget, in the words of the Monty Python team, “now for something entirely different.”
Let’s look at the economic implications of the Budget and its likely impact on our investments. But let’s not get too carried away with ourselves. We need to shine the spotlight on overseas developments that make me scoff with anger when I receive emails from viewers, readers, listeners and subscribers concerned about the chances of a huge sell off in shares. More on this below.
A big stock dumping will happen one day but I can’t see it soon. Bell Potter’s Charlie Aitken thinks a correction is on the cards over July but he argues it also creates a buying opportunity. By the way, this piece by Charlie was written before the ‘better than expected’ HSBC flash PMI reading, which showed manufacturing was on the up in China.