Bob Calco wrote: >> Mock all you like but our economy is superb and yours is on the brink >> of >> total collapse. It is just possible we know something you don't. >> >> > > And now for ... the rest of the story ... > > http://tinyurl.com/avtnzt > > - - - > The Australian economy, once considered a relatively save haven, is headed > for a steep downturn in 2009, in part because of slower-than-expected growth > in China, a leading forecaster said Monday. > > In a starkly worded quarterly outlook report, the Australian research firm > Access Economics warned that the mining-led economy "will unwind scarily > fast" in 2009, sending the Australian dollar and interest rates crashing. > > "This is not just a recession," the report said. "This is the sharpest > deceleration Australia's economy has ever seen." > > The report predicted that the central bank would be forced to cut interest > rates to 2.5 percent, from 4.25 percent, to stimulate growth. > > About 300,000 jobs will be lost and corporate profits will be cut in half, > it said. > > "China's slowdown is Australia's recession," the report said. "Many > businesses will fail, as demand gains shrink." > > ... > > "The bottom line is that I would be expecting the I.M.F. to be downgrading > its outlook for Australia," Mr. Smirk said. > > Wayne Swan, the Australian treasurer, said the government, which has already > thrown billions of dollars in stimulus money at the economy, was prepared to > "take further decisive action" if necessary. > > But how much more leeway Mr. Swan will have is open to debate. > > - - - > > Glad y'all got that figured out. > > The only difference I see is you *had* political pressure to keep deficit > spending to a minimum. We've had the opposite. Otherwise I see pretty much > the same problems manifesting. > > - Bob > > Oh! And the tiny little fact that it was YOUR economy that triggered this whole thing.
--- StripMime Report -- processed MIME parts --- multipart/alternative text/plain (text body -- kept) text/html --- _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[email protected] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
