Chronic Snoozer, long term it will be probably milk and honey.
But, if the demand for Chinese goods slows in the US, the slowdown in economic activity in China will be reflected here short to mid term.
KB's she'll-be-right comments are a little delusional IMO. Quite a large chunk of our have-it-now generation in Australia has a bigger household negative equity problem than the USA (more`debts than assets*). It will correct and there will be defaults. Kevin Rudd hit the panic button last week.
*Oh but my house is worth $600K. Bull!!!!! Its unrealised paper assets. Put it on the market and see what you actually get for it.
How come were still getting ripped a $150-60 a litre for gas?
Tinpis. It should be around $1.10L accounting for the flight from the AUD. So what about greed as a reason?
On the raison d'etre of this thread, currency traders are abandoning Commodity Currencies like the AUD. Unlike
KB, they don't think its all hunky dory downunder.
The ANZ has reduced its interest rates greater than the RB's 1%
The CBA is busy with its acquisition of Bank West
The merger with Westpac and St George is still on.
Nothing there would indicate portending drama.
Greedy bastards still being greedy?