Wednesday, April 8, 2009

Damn Aussies

The Reserve Bank of Australia cut its benchmark rate by a quarter percentage point to 3%. Most economists had been predicting no change to rates. Australia's government announced a 42bn Australian dollar ($26.5bn; £19bn) stimulus plan last month as the country faces its first recession since 1991. BBC

In other words, the Australians have now joined in with the fun of creating a worldwide depression. All we need to wait for now is that the dollar collapses, China reviling some horrifying economic figures or some big companies like GE or Microsoft plumbers downwards and we are off. Fun fun fun…
Also noticed that some oil prices is starting to climb and that the only big economy left that’s not in any immediate danger is the Indian one but also they are having some problems.

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