Many analysts and commentators judged the Federal Budget, not by what it would do for average Australians, but by how the financial markets would react, Pat Byrne reports. The reason that government policy must satisfy the markets first and the electorate second, is because the markets can withdraw their capital, which Australia badly needs to keep servicing its massive foreign debt, and reinvest it anywhere in the world with the press of a computer key.Prime Minister Howard seemed to demonstra…
