Selloff and NDP Govt Interesting selloff. I don't have any other play behaving quite like this. Never mind the drill results, the reserves, the top drawer management, or anything else: somebody seems determined to drive PVG down.
I wonder if the state of BC govt is a factor:
BC Deficit 2012-13 Rises, Spending Cuts Loom (Huffington Post, 28-Nov)
De Jong said the Liberal government's second quarterly report projects the deficit to hit $1.47 billion, up from his forecast in September of a deficit of $1.1 billion, but he's convinced if the government cuts up to $300 million from its current budget, it will reach balance next year.
The Finance Minister needs help with his math, but the point is that BC govt under the scummy Liberals is already in deficit and getting worse. They say nobody is smarter than the market. I know the topic has been raised before, but can somebody please tell me why we as mining stock investors should be pleased at the prospect of Marxist wealth-redistributionists returning to power in the next election, smack in the middle of broadening recession, and given their legacy of punishing the sector?
Thanks in advance for any frank opinion.
'Wuggy'