WORLD

Ron Paul thinks the worst is still to come:

“We might have up to a year or so of an economy growing just slightly above stagnation, followed by a drop in growth worse than anything we have seen in the past two years. As the housing market fails to return to any sense of normalcy, commercial real estate begins to collapse and manufacturers produce goods that cannot be purchased by debt-strapped consumers, the economy will falter.”

But Japan is apparently the real worry. What happens when a whole country defaults? Especially when it’s like the 2nd biggest economy in the world:

“The IMF expects Japan’s gross public debt to reach 218pc of gross domestic product (GDP) this year, 227pc next year, and 246pc by 2014.”

And, does anyone know what India’s going to do with all that gold?

AUSTRALIA

Looks debt servicing peaked in 2007?
And there should be a strong correlation between that and prices, no?

Look at the impact stimulus has had here!
Basically because of the relative large scale of spending (compared to gdp) in oz, compared to the others.

Remember, ALL our growth is due to stimulus.
Wonder if we’re the quickest to recover, because our election cycle is shorter?
Good one Lindsay. I guess it’s like the way I actually earned $1M last financial year, if I include the saving from the Bugatti Veyron that I didn’t buy. Shit, was I meant to pay stamp duty on that too? Woops.

And what’s up with that appointment of Costello?I thought his neo-classical bullshit view of money is half the reason we have a problem anyway?!
As everyone is saying, what a load of toss!