Originally Posted by truthvigilante
Think Australia is immune to global downturn, depression and despair? Think again.
One would be plundering the depths of na´vetÚ to believe that Australia can continue to exist in an oasis of economic tranquility, while the global economy plunges into turmoil.
and what does the US say?
THE earnings season in the United States has been peppered with negative commentary about Australia's weak economy...
Last week, the chief executive of Illinois Tool Works, a 100 year-old manufacturer and Fortune 200 company, told an audience of US analysts that the Australian economy was ''slowing significantly'', and that that the downturn had taken his company by surprise.
While Government is busy trying to prop up the building industry
The Australian housing market is at a point where it will either decline slowly or collapse swiftly due to the drive among households to reduce their debts and increase their savings, says property bear Steve Keen.
Seems very embarrassing to preach to other governments about how great your economy is going, when there are major problems occurring in it.
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