I really should do my research.
Our Dollar tanked on July 15th, 2008.
What happened on or around that day?
Oil peaked
Aluminium started to slide
Copper peaked
KRudd gave his speech on Carbon Pollution Elimination and the announcment of the green paper.
AND the winner is....FAR EAST STEEL PRICES Peaked at over $900tonne in July and now heading south of $335tonne
All commodities heading south and we are just sliding with it. This is all linked to a very global retraction that is bought about by corporate greed in the land of the free. So, in a fashion, it is linked to the sub prime meltdown in the US but not because of our own domestic housing market.
Housing is fast becoming a victim and as pointed out about that Government forced savings policies?....by the way here is another $24000AU for a new house. BUT wait theres more! My kids just gave me a windfall $8500 to spend for christmas..NOT BLOODY LIKELY! Half of the surplus just disappeared in a pen stroke.
This government is trying to remedy the symptoms and doing nothing about the cause. This time last year, we were all collectively berated for causing inflation to increase by spending so much on ourselves over christmas????(What with?)..I wonder what this lever does?