Bad news all round

Spain in trouble.  Greece and France voting without using their brains.  China faltering.  USA selling their coal in the international market as shale gas is now plentiful.

And worse news of all... Wayne Swan who should be Cuba's or Venezuela's treasurer is handing down a budget, with every intention of killing off the entrepreneurial spirit of Australians.  Robin Hood sounds romantic but when it comes to economics, he is a fool.

However, POG is still over USD1600 per oz and AUD has fallen below USD1.03.  I still cannot understand why gold stocks are jettisoned.  I am keeping or topping up mine.  Interestingly, I bought a gambling stock JIN but it too fell!  Gamblers gamble in boom times and in recessions.  I haven't touched any non-resource stock for a long time other than with rights issue and compulsory dividend reinvestments.